New York City — Lev Mavashev of Alpha Realty represented both the seller and buyer in the $5.6 million sale of 3315 and 3401 Avenue H in the Flatbush Section of Brooklyn. The corner buildings are located across the street from each other at the intersection of Avenue H and East 34th Street. The two properties together total 14,350 square feet with a total of 10 commercial units. Total buildable space for the two lots is 52,000 square feet, making the properties a future development play.
AUSTIN, TEXAS — ARA Newmark has arranged the sales of the 450-unit Villages of Sage Creek and the 460-unit Park at Walnut Creek, in Austin. The properties were jointly marketed as the “North Austin 2000’s Portfolio.” Pat Jones of ARA Newmark represented the seller, Dallas-based Whole Life Management Co. The buyer in both transactions was Montgomery, Ala.-based B&M Management Co. Constructed in the early 2000s, Villages of Sage Creek and Park at Walnut Creek are Class A communities located in Austin’s Far North submarket. Amenities for both communities include swimming pools, fitness centers, volleyball courts and pet parks. The Villages of Sage Creek has 11 floor plans ranging from 636-square-foot, one-bedroom plans to a 1,441-square-foot, three-bedroom design. The Park at Walnut Creek includes 14 floor plans ranging from a 696-square-foot, one-bedroom to a 1,630-square-foot, three-bedroom design.
GRAND PRAIRIE, TEXAS — Crow Holdings Industrial (CHI) has leased 143,000 square feet of Class A distribution space to Dart Warehouse Corp. The space is located in Regency 1, a 419,520-square-foot building located at 1025 Post and Paddock St. in Grand Prairie. Holmes Davis of Binswanger’s Dallas office handled the transaction for the tenant. Michael Spain of Bradford Commercial Real Estate Services handled the transaction for CHI. Dart Warehouse Corp. owns and operates more than 7 million square feet of industrial property nationwide and offers supply chain services including order fulfillment and e-commerce, transportation, third-party management, public and dedicated warehousing, cross dock services and property management and development.
CHICAGO — ASB Real Estate Investments has sold its nine-building, 174-unit Elaine Place apartment portfolio in the Lakeview neighborhood of Chicago, located blocks from Wrigley Field, for $50.5 million. The sale was made on behalf of ASB’s Allegiance Fund, a $5 billion core investment vehicle, which owned the property in a joint venture with Marc Realty/Chicago Apartment Finders. The portfolio was purchased by New York-based CLK Properties.
WIXOM, MICH. — Signature Associates has negotiated the lease of 14,350 square feet of industrial space located at 48152 West Road in Wixom. Steve Kozak, Steve Gordon and Angela Thomas of Signature Associates represented the tenant, Profiroll, in the transaction. Steve Kozak and Steve Gordon also represented the landlord, International Development, in the transaction. Signature Associates is an independently owned and operated company that is a member of the Cushman & Wakefield Alliance.
SUNRISE, FLA. — Stiles has purchased Sunrise Corporate Plaza, a three-story, Class A suburban office building, for $18.9 million. Developed in 1999, the 106,648-square-foot office building is located at 1300 Sawgrass Corporate Parkway within Sawgrass International Corporate Park in Sunrise, a town in Broward County. The asset was fully leased at the time of sale to tenants such as MacNeill Group and MEDNAX Services. Fort Lauderdale-based Stiles purchased the property through Stiles Property Fund, the company’s value-add real estate fund. Mike McDonald of Eastdil Secured represented the seller, FDG Sunrise Corporate Plaza, an affiliate of Florida East Coast Industries. Following the acquisition, Stiles will lease and manage the asset.
MORROW, GA. — Dallas-based Sealy & Co. has sold a 209,210-square-foot industrial property in Morrow, roughly 14 miles south of Atlanta, for an undisclosed price. The company’s investment offefring, Sealy Strategic Equity Partners, executed the sale to enhance the fund’s key performance metrics.
STRONGSVILLE, OHIO — Marcus & Millichap has brokered the sale of Strongsville Shopping Center, a 30,750-square-foot retail property in Strongsville, a suburb of Cleveland. The asset, which is anchored by Tutor Time, sold for $3.9 million. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap represented the seller, a Florida- and Ohio-based joint venture, in the transaction.
LAFAYETTE, IND. — Chicago-based Baum Realty Group has arranged the sale of a single-tenant, net-leased Goodrich Quality Theaters property. Located at 3525 McCarty Lane in Lafayette, the property sold for $2.4 million. The 18,000-square-foot property has three years remaining on the original 20-year lease with two five-year extension options. Goodrich Quality Theaters is a Michigan-based operator with 30 theater locations across four states. Brad Teitelbaum and Patrick Forkin of Baum represented the undisclosed seller in the transaction. The buyer was a Michigan-based private investor.
LANSING, MICH. — Signature Associates, an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of a self-storage facility, located at 4724 Creyts Road in Lansing. Storage Pros Acquisitions purchased the 71,900-square-foot property for an undisclosed price. Jack Johns of Cushman & Wakefield | Signature Associates represented the seller, Westland Storage LLC, in the transaction.