NEW YORK CITY — Marcus & Millichap has brokered the sale of a 6,385-square-foot land parcel located at 71-74 Parsons Blvd. in the Kews Gardens section of Queens. The asset sold for $2.5 million. The 67-foot by 83-foot parcel offers a floor area ratio of 2.43 for a residential development and a floor area ratio of 4.8 for a development that includes a community facility. Steven Siegel and Michael Kook of Marcus & Millichap’s Manhattan office represented both the seller, a bank/financial institution, and the buyer, a developer, in the transaction.
HOUSTON — Cousins Properties Inc. has arranged a lease renewal with Transocean Ltd. for 255,413 square feet at Greenway Plaza in Houston. Transocean, the fourth largest customer in Cousins’ Houston portfolio, currently occupies 4 Greenway Plaza in its entirety. The 255,413-square-foot transaction renews 100 percent of the company’s current space and extends their expiration from January 2017 to January 2023. Greenway Plaza is a 4.5 million-square-foot Class A office complex located in the Greenway submarket of Houston. With the Transocean renewal, leasing at Greenway Plaza now stands at 90 percent. Bob Boykin, Warren Savery, Bubba Harkins and Will Hightower represented Cousins in the transaction.
HOUSTON — Ashley Furniture has signed a 10-year, 52,360-square-foot lease renewal at Deerbrook Corner located at 20050 Highway 59 North in Houston. Mickey Meyer-Sturgis represented the tenant and landlord, The Richland Cos., in the transaction.
TIGARD, ORE. – A 24,733-square-foot retail building in Tigard has sold to Hobo Properties LLC for $2.5 million. The building is located at 12230 SW Main Street in the downtown region. The center is fully occupied by Crown Carpets and Live Laugh Love Glass. Hobo Properties was represented by Joe Kappler of Macadam Forbes. The seller, 3DM Holdings, was represented by Scott Finney and Nick Chessar of Norris & Stevens.
WILMINGTON, DEL. — Evergreen Apartment Group Inc. has acquired Canby Park Apartments, a 255-unit apartment community located at 1600 Bonwood Road in Wilmington, for an undisclosed sum. Evergreen has rebranded the apartment community as Evergreen Apartments at Riverfront Heights. The buyer plans to implement a significant interior and exterior renovation and improvement program at the property, which was built in 1968. Apartment amenities include in-unit washers/dryers, individually controlled central HVAC, modern kitchens with ceramic tiles, walk-in closets, private entrances and balconies. Community amenities include a full-service leasing and community center, state-of-the-art lifestyle and fitness center, an indoor swimming pool and resident lounge. Fannie Mae provided financing for the acquisition, with Key Bank servicing the loan and AMA Financial serving as the mortgage broker.
OCEAN, N.J. — IMI Acquisitions Ltd. has acquired a shopping center at Ocean Circle Plaza in Ocean. Constructed in 2010, the 20,000-square-foot retail center sold for $3.8 million. Ray Smith of Stafford Smith Realty brokered the transaction. The name of the seller was not released.
WORCESTER, MASS. — Kelleher & Sadowsky Associates has brokered the sale of an office building located at 25 Harvard St. in Worcester. 25 Harvard Street LLC purchased the 5,400-square-foot property, known as the Otis E. Putnam House, from Phylis Jaffee of Jaffee & Associates CPA for an undisclosed price. Aisling Partners will relocate to the property from 446 Main St. in late summer/early fall. Paul Matt and David Cohen of Kelleher & Sadowsky represented both parties in the transaction.
OKLAHOMA CITY — NXT Capital has provided a $30 million first mortgage loan to finance the acquisition of Warwick West Apartments, a Class B, 424-unit property in Oklahoma City. Proceeds from NXT’s loan will fund a renovation plan. The property is adjacent to Integris Baptist Hospital and located near the headquarters of Chesapeake Energy. Community amenities include a clubhouse, fitness center, three swimming pools and a tennis court
SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the sale of Sir Winston Villas Apartments, a 32-unit apartment complex in San Antonio. A California-based private investor was the buyer.
CINCINNATI — CBL & Associates has completed the disposition of Eastgate Crossing, a retail center located on Eastgate Boulevard in Cincinnati. A joint venture of Inland Real Estate Corp. purchased the 174,700-square-foot property for $22.8 million, including $1.7 million of future earn-out payments and the assumption of a $14.6 million loan secured by the property. The property is 97 percent leased to a mix of national and regional tenants, including Kroger, Marshalls, Ashley Furniture, Jo-Ann Fabrics and Dollar Tree. Margaret Caldwell of Jones Lang LaSalle represented CBL in the transaction.