LOS ANGELES – Officia Imaging has signed a 63-month lease for 3,150 square feet of office space in Downtown Los Angeles. The space is located at 617 West Seventh Street. Officia Imaging is an office equipment and document management software solutions provider. The building is owned by the Swig Company.
PUEBLO, COLO. – A 7,371-square-foot retail strip center in Pueblo has sold to a local private investor for $3 million. The center is located at 1425 US Highway 50 West. It is full occupied by McAlister’s Deli, Papa John’s Pizza and Open MRI. The McAlister’s Deli franchisee has agreed to enter into a new 15-year, triple-net master lease once this transaction has closed. It will contain two, 10-year renewal options. The buyer was represented by Drew Isaac and Howard Stark of Marcus & Millichap’s Denver office. The seller, a private investor, was represented by Barry Higgins and David Lee of the same firm.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of four properties in Brooklyn totaling $7.4 million. In the first transaction, Jonathan Berman, Mark Spinelli, Daniel Tropp and Michael Tortorici of Ariel Properties represented the seller and buyer, both private investors, in the $2.3 million sale of a vacant lot at 876 Bergen Ave. in Prospect Heights. The property is zoned R7A and contains 10,847 buildable square feet as-of-right. In the second transaction, Tropp, Spinelli and Berman represented the seller and buyer, both private investors, in the trade of a property, which contains two residential units and one commercial unit, located at 154 Graham Ave. in East Williamsburg. The 4,500-square-foot asset sold for $1.9 million. In the final transaction, Shimon Shkury, Berman, Spinelli and Tropp represented the seller and buyer, both private investors, in the sale of two industrial properties, located at 402-422 Snediker Ave. and 485-515 Van Sinderen Ave. in East New York. The buildings, which total 33,500 square feet, sold for $3.2 million.
CRYSTAL LAKE, ILL. — Marcus & Millichap has brokered the sale of Next Door Storage, a self-storage facility located in Crystal Lake. Located at 7209 Teckler Blvd., the 58,100-square-foot property sold for an undisclosed sum. Originally constructed in 1977 and most recently renovated in 2014, the property features 579 storage units. Sean Delaney and Michael Mele of Marcus & Millichap represented the seller and buyer, both limited liability companies, in the transaction.
ELMHURST AND MUNDELEIN, ILL. — Transwestern has brokered the sale of three commercial properties in three separate transactions totaling 82,285 square feet in Elmhurst and Mundelein. In the first transaction, Justin Lerner and Joe Karmin of Transwestern represented Venture One in the disposition of a 33,000-square-foot property at 899 Larch in Elmhurst. Craftwood Inc. acquired the building for an undisclosed price. In the second deal, Lerner and Karmin represented Terrence Sherman in the sale of a 29,000-square-foot building at 877 S. Route 83 in Elmhurst. U Store It LLC purchased the property for an undisclosed sum. In the final transaction, Tom Boyle and Jared Paff represented International Equipment Trading Inc. in the acquisition of a 19,295-square-foot property at 955 Campus Drive in Mundelein from G&M Enterprises for an undisclosed price.
PALATINE, ILL. — Adelphia Properties has arranged the sale of a single-tenant, absolute net-leased property located in Palatine, northwest of Chicago. The 6,173-square-foot property is occupied by Kindercare Learning Center, which has 4.5 years remaining on its lease with two five-year extension options. A private investor acquired the property for $1.6 million. Simeon Spirrison of Adelphia Properties represented the seller, a private investor, in the transaction.
EDGEWATER PARK, N.J. — New York City-based Nassimi Realty LLC has acquired Edgewater Park Plaza, a shopping center in Edgewater Park. A&P, which previously operated a Pathmark store at the location, sold the property for an undisclosed price. Located at 2110 Route 130, the 115,000-square-foot center is tenanted by Big Lots, Dunkin Donuts and a Getty gas station. Winbrook Management LLC represented the buyer in the transaction, while Metro Commercial Real Estate Inc. represented the seller.
NEW YORK CITY — The Kaufman Organization has brokered a 10-year lease for 46,000 square feet of office space at 111 West 19th St. in New York City. Law360, a LexisNexis company, is relocating to the space from its Union Square offices at 860 Broadway and 200 Park Avenue South. The company’s new space can accommodate up to 300 staffers, including reporters and business professionals. Steven Kaufman, Barbara Raskob and Yvonne Chang of the Kaufman Organization represented the landlord, 19th Street Associates LLC, while Paul Ippolito of Newmark Knight Grubb Knight represented the tenant in the transaction.
NEW YORK CITY — Eastern Consolidated has arranged a 15-year, 1,400-square-foot lease for the Eatery in Hell’s Kitchen. The popular restaurant is relocating to 788 Ninth Ave. from another location on the block. James Famularo and Jeff Geoghegan of Eastern Consolidated represented the owner, while Ravi Idnani, also of Eastern Consolidated, represented the tenant in the transaction.
CARROLLTON, TEXAS — Marcus & Millichap has arranged the sale of Fox Creek Apartments, a 172-unit apartment property located in Carrollton. John Barker and Mark Allen of Marcus & Millichap’s Fort Worth office secured the buyer, a limited liability corporation based in New York. Fox Creek Apartments is located at 1910 S. Josey Lane. The complex includes apartment homes with four floor plans ranging from 712 to 1,000 square feet. Constructed in 1969, Fox Creek features a total of five two-story buildings under flat roofs. The construction consists of brick siding with asphalt surface parking. The rentable square footage is 142,456 and the total lot size is 6.2 acres. The previous owner spent more than $1.08 million renovating the property in the past 16 months. The exterior renovations include roof replacement, exterior paint, a resealed and restriped parking lot, landscaping upgrades, wrought iron perimeter fence and plumbing and electrical improvements. The interior renovations include new appliances, faux wood flooring, new carpet, resurfaced countertops and new plumbing fixtures in select units.