PASADENA, TEXAS — NAI Partners represented Bart Industries LP in leasing 30,000 square feet of new industrial space located at 1605-A Genoa Red Bluff in Pasadena. John Ferruzzo and Chris Kugle of NAI Partners represented the landlord, Bart Industries, while Leigh Anne Ahr of Proximity Real Estate Advisors represented the tenant, WLSC Incopro LLC.
CARROLLTON, TEXAS — Variosystems Inc. has purchased a 14,550-square-foot light industrial building in Valwood Industrial Park for its international headquarters. The electronics service company is planning to relocate in 60 to 90 days to 1628 Valwood Parkway in Carrollton from its current leased space in Southlake. Variosystems has acquired a former call center on nearly 3.5 acres from Global Harvest Church, which was represented by George Tanghongs of Lee & Associates. The property is located near I-35, I-635 and the George Bush Turnpike and was developed in 1986. The air-conditioned tech space will be retooled to include employee areas. Founded in 1993, Variosystems specializes in engineering and global project management. It employs more than 1,100 professionals in the U.S., Switzerland, Sri Lanka and China.
CHARLESTON, S.C. — Berkadia has brokered the $12.4 million sale of East Central Lofts, a 72-unit, Class A apartment community located at 274 Huger St. in Charleston. Built in 2013, East Central Lofts comprises studio, one- and two-bedroom units with granite countertops, stainless steel appliances, hardwood floors and floor-to-ceiling windows. The property’s amenities include laundry facilities on each floor, a bocce ball court, barbecue area and covered and gated parking. The property offers views of the Ravenel Bridge and is located within walking distance of historic downtown Charleston. East Central Lofts LLC sold the asset to a group of buyers, including Federal Capital Partners, Kane Realty Corp., Randolph Development and Canongate Capital. Mark Boyce of Berkadia’s Charleston office brokered the transaction.
FORT LAUDERDALE, FLA. — ARA, A Newmark Company (ARA Newmark) has brokered the $10 million sale of a 0.6-acre waterfront development site at 321 N. Birch Road in Fort Lauderdale. The site has more than 200 feet of frontage on the Intracoastal Waterway and is steps away from the beach and the Atlantic Ocean. The site is approved for an 11-story, 22-unit condominium project, as well as a marina with four 70-foot boat slips. Troy Ballard, Avery Klann and Marc deBaptiste of ARA Newmark represented the sellers, Jeremy Bedzow and Grand Birch LLC. An affiliate of Sobel Co. known as 321 Birch LLC purchased the development site. According to ARA Newmark, the sales price of $454,000 per unit is the new record for land pricing per unit for a non-oceanfront site in South Florida.
WESTLAND, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of an industrial building located at 38309 Abruzzi Drive in Westland. Abruzzi Properties LLC sold the 14,200-square-foot property to Sriraj Holding LLC for an undisclosed price. Canada-based NutraNorth, a manufacturer and packager of vitamins and supplements, is the parent company of the buyer. This acquisition is the company’s first American venture. Bob Frank of Friedman represented the seller in the transaction.
BROOKLYN PARK, MINN. — Composites One LLC has signed a 10-year lease for 39,680 square feet of industrial space at North Distribution Center I in Brooklyn Park. The Arlington Heights, Ill.-based distributor of composites materials is relocating and expanding from its Lino Lakes, Minn., facility to the new space at 7035 Winnetka Ave. North. Noam Newman and Mark Sims of DTZ represented the tenant, while Steven Nilsson of Colliers represented the landlord, Chicago-based First Industrial Realty Trust, in the lease.
CONCORD, CALIF. – The 40-unit Modera Apartments in Concord has sold to a group of local investors for $7.3 million. The community was built in 1969. CBRE’s Keith Manson represented both the buyers and the seller, Graham Chernoff of Cumberland Holdings, in this transaction. The buyers were in a 1031 exchange.
ARLINGTON, TEXAS — The Greysteel Co. has arranged the sale of West Village, a 66-unit apartment complex located at 300-310 W. Pioneer Parkway in Arlington. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel served as advisor and agent to Westside Village LP in the sale of West Village to Alpine Heritage Group LLC.
DALLAS — Hartman Hillcrest LLC, an affiliate of Hartman Short Term Income Properties XX (Hartman XX), has purchased the Commerce Plaza Hillcrest office property in Dallas. Commerce Plaza Hillcrest is a 203,688-square-foot, nine-building office complex located on Lyndon B. Johnson Freeway (IH-635) and Hillcrest Road. The property sits on 10 acres and is 74 percent leased to 95 tenants. The property primarily caters to smaller community tenants. Tenants include Signature Medical Imaging (14,410 square feet) and Playworks (5,408 square feet).
DALLAS — Marcus & Millichap has arranged the sale of 5905 Victor Street, a 16-unit apartment property located in Dallas. Stephen Crittenden, William Jarnagin and Michael Ware of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Crittenden, Jarnagin and Ware also procured the buyer, a local investor. The buyer acquired the property as part of a 1031 exchange with an asset in Austin. Prior to marketing the asset, the seller renovated the interiors of 40 percent of the units and then capitalized on the investment through significant rental rate increases.