more_sales_and_leases

M&M Arranges Sale of 52,015 SF Self-Storage Facility in Fort Worth

by Haisten Willis June 29, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Safe & Secure Self-Storage, a 52,015-square-foot self-storage facility located in Fort Worth. Brandon Karr and Danny Cunningham of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured by Cunningham and Karr. Safe & Secure Self-Storage is located at 8500 S. Hulen Street. The facility rests on 3.3 acres, was built in 2004 and features an on-site manager’s residence, climate-controlled units, garage-style roll up doors, personalized key-pad gated entry, video surveillance, perimeter fencing and lighting and wide concrete driveways. The property is comprised of 182 interior climate-controlled units, 242 drive-up storage units, five covered parking spaces and 21 uncovered parking spaces.

June 29, 2015

Fort McPherson Board OKs 330-Acre Land Sale to Tyler Perry for $30M

by John Nelson June 29, 2015

ATLANTA — The McPherson Implementing Local Redevelopment Authority (MILRA) board has approved a land sale of 330-acres at the former Fort McPherson in southwest Atlanta to media mogul Tyler Perry. MILRA is a civilian authority board tasked with overseeing the redevelopment of the former army post. As part of the agreement, MILRA will purchase the 488-acre former army base for $26 million and subsequently sell 330 acres to Tyler Perry for $30 million for a movie/TV studio. MILRA plans to add a mixed-use development, anchored by the new studio. MILRA is collaborating with the state and city governments, as well as Urban Land Institute (ULI) to determine market needs going forward.

June 29, 2015

Georgia Retail Southeast

Bull Realty Brokers $6.9M Sale of Retail Strip Center in Metro Atlanta

by John Nelson June 29, 2015

DULUTH, GA. — Bull Realty has brokered the $6.9 million sale of The Walk at Johns Creek, a 43,112-square-foot retail strip center located in Duluth, a northeast suburb of Atlanta. The property is part of a larger mixed-use development, Johns Creek Walk, which comprises apartments and a bank. The strip center’s tenant roster includes Another Broken Egg, Coldwell Banker, Palomilla’s Grille and Maverick’s Steakhouse. John Harrison of Bull Realty represented the buyer, South Coast Commercial LLC, in the transaction. Jill Tanner of Tanner Real Estate represented the sellers, John’s Walk at John’s Creek LLC and Bob’s Walk at John’s Creek LLC.

June 29, 2015

California Office Western

Matura Farrington Leases Office Space in Downtown Los Angeles

by Nellie Day June 29, 2015

LOS ANGELES – Matura Farrington has signed a 65-month lease for 5,696 square feet of office space in Downtown Los Angeles. The space is located at 617 West Seventh Street. Matura Farrington is a staffing services agency. The building is owned by the Swig Company.

June 29, 2015

Hospitality Midwest Minnesota

Ashford Trust to Acquire The W Minneapolis, Le Meridien Minneapolis for $101M

by Amy Works June 26, 2015

MINNEAPOLIS — Ashford Hospitality Trust Inc. has signed a definitive agreement to acquire two hotels in Minneapolis for a total of $101 million, or $349,000 per key. The hotels include the 229-room W Minneapolis Hotel – The Foshay and the 60-room Le Meridian Chambers Minneapolis. As part of the transaction, Ashford will assume approximately $56 million of mortgage debt on the W Minneapolis Hotel. The assumed debt matures in May 2023 and carries a fixed interest rate of 5.4 percent. After closing, both properties will continue to be managed by Starwood Hotels. W Minneapolis features 6,700 square feet of meeting space, the open-aired Foshay Tower Museum and Observation Deck, a FIT gym, 24-hour business center and Manny’s Steakhouse. Le Meridien Chambers Minneapolis offers 3,648 square foot of meeting space, a bar and restaurant, a fitness center, and more than 200 pieces of original contemporary artwork in the guestrooms and public areas.

June 26, 2015

Illinois Midwest Retail

Brennan Investment Group Leases 98,785 SF to Pet Foods Experts in Illinois

by Amy Works June 26, 2015

DES PLAINES, ILL. — Brennan Investment Group has signed a new lease with Pet Food Experts at its newly construction warehouse facility in Des Plaines. Pet Food Experts will lease 98,785 square feet at the property, which is located at 1780 Birchwood Ave. The 140,000-square-foot industrial facility features 32-foot clear heights, ample loading, trailer parking and auto parking. The lease is slated to commence in third quarter 2015. Jonathan Kohn and Thomas Rodeno of Colliers International represented the landlord, while Daniel Smolensky of Modal Group represented the tenant in the transaction.

June 26, 2015

Multifamily New York Northeast

Madison Realty Capital Sells Brooklyn Multifamily Property for $37.4M

by Amy Works June 26, 2015

NEW YORK CITY — Madison Realty Capital has completed the disposition of a multifamily property located at 385 Union Ave. in Brooklyn’s Williamsburg neighborhood. Originally in foreclosure and under management of a receiver, the six-story property sold for $37.4 million. The 40,000-square-foot property features 47 residential units. The property was sold in an off-market transaction facilitated by Aaron Jungreis of Rosewood Realty Group, who represented both parties. The name of the buyer was not released.

June 26, 2015

Mixed-Use Multifamily New York Northeast Retail

Silvershore Properties Acquires Mixed-Use Property on NYC’s Lower East Side

by Amy Works June 26, 2015

NEW YORK CITY — Silvershore Properties has acquired a mixed-use property, located at 149 Rivington St. in New York City’s Lower East Side, for $2.8 million. The buyer plans to redevelop the four-story, walk-up building into a larger property with additional residential and retail units by adding two floors to create two duplex apartments and build out the two retail floors on the lower level. No brokers were involved in the transaction. The name of the seller was not disclosed.

June 26, 2015

Connecticut Northeast Retail

O,R&L Commercial Brokers 26,035 SF Retail Lease in Connecticut

by Amy Works June 26, 2015

ENFIELD, CONN. — O,R&L Commercial has brokered the lease of 26,035 square feet of retail space in Enfield to Crown Furniture. The furniture store will join Dollar General, Whirly Ball and a local comic book store at the fully occupied 57,322-square-foot retail center at 481 Enfield St. Crown Furniture is relocating from its current space in West Springfield, Mass. Robert Gaucher of O,R&L Commercial brokered the transaction.

June 26, 2015

Multifamily Texas

Berkadia Arranges Sale of Apartment Complex in Austin

by Haisten Willis June 26, 2015

AUSTIN, TEXAS — Berkadia has arranged the sale of Lantana Trace, an apartment complex located at 1830 Rundberg Lane W. and 9315 Northgate Blvd. in Austin. Forrest Bass of Berkadia’s Austin office negotiated the transaction. The property was 97 percent occupied at the time of the sale. Built in 1972, the 112-unit property features studio, one- and two-bedroom floor plans. Each unit features kitchens with tile backsplashes and double sinks, tiled showers, walk-in closets, wood-grain vinyl flooring, ceramic tile, ceiling fans and mini-blinds. Community amenities include two swimming pools, two laundry facilities, barbecue and picnic areas, courtyards with landscaping and perimeter fencing. The seller originally purchased the asset as two separate, 56-unit properties in 2012 and 2013. Since those acquisitions, the operator combined the communities to run as one property. The new owner plans minor interior and exterior renovations.

June 26, 2015

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