NEW YORK CITY — An affiliate of New York City-based Norvin Healthcare Properties has acquired a two-story, 45,000-square-foot property, located at 21-21 44th Dr. in Long Island City, for $66 million. Simultaneously with the acquisition, Norvin entered into a 31-year triple-net lease with NYU Langone Medical Center. NYU Langone Medical Center plans to redevelop the industrial property into a multi-specialty ambulatory care facility. The name of the seller was not disclosed.
SEABROOK, N.H. — Curatolo Seabrook LLC has acquired Seacoast Mini Storage in Seabrook, a suburb of Portsmouth. The Marilyn T. Imke Revocable Trust sold the property for $5.8 million. Located at 233 Route 107, the 63,754-square-foot property has 55,270 square feet of rental storage space with 583 units, 152 of which are climate-controlled units. Situated on 6.1 acres, the property also includes two apartment units on site. Joseph Mendola of NAI Norwood Group represented the seller and assisted the buyer in the transaction.
BUFFALO, N.Y. — Colliers International Student Housing Group has arranged the sale of a 28-acre development site near the State University of New York at Buffalo. A joint venture between Harrison Street Real Estate and University Student Living, a company of The Michaels Organization, acquired the property from Menorah Campus for an undisclosed price. The buyer is planning to build a Class A student housing property on the site with approximately 600 beds. The project is slated for delivery in 2016.
NEW YORK CITY — Alpha Realty has brokered the sale of a multifamily building located at 194 Utica Ave. in Brooklyn’s Crown Heights neighborhood. A local private investor acquired the property for $2.5 million, or $260 per square foot. Constructed in 1906, the 9,100-square-foot property features 14 apartments and two retail spaces. Jacob Aronov of Alpha Realty represented the buyer and the seller, a local private investor, in the transaction.
RANCHO CUCAMONGA, CALIF. – Custom Goods has renewed its lease for 240,249 square feet of industrial space in Rancho Cucamonga. The warehouse and distribution center is located at 12200 Arrow Route. The third-party logistics firm was represented by JLL’s Louis Tomaselli and Jordan Quinn. The landlord was not named.
OXNARD, CALIF. – The 18-unit Oxnard Art Lofts has sold to 2201 Statham LLC for $2.9 million. The live-work complex is located at 2201 Statham Blvd. The project was 90 percent vacant at the time of sale. The project was an adaptive reuse of an old industrial building. The 25,610-square-foot complex contains units ranging from 978 square feet to 1,615 square feet.
DALLAS — Marcus & Millichap has arranged the sale of Northpoint Medical Arts, a 116,875-square-foot multi-tenant medical office building in Dallas. Ron Hebert of Marcus & Millichap’s Dallas office represented the seller, Q Northpoint LP. The buyer, Gregory Interests LLC, was represented and procured by Trinity Interests, a Dallas-based commercial property management firm. The facility is located at 12606 Greenville Ave. near the intersection of I-635 and Greenville Avenue near Central Expressway. The two-story Northpoint Medical Arts building was built on five acres in 1979. Tenants include Concorde Career College, Northpoint Pediatrics, Preston Village Pharmacy, ROSA of North Dallas LLC, Texas Health Recourses, University of Texas Southwest Medical Center and Vivere Health Dallas LLC.
CLEARWATER, FLA. — The RADCO Cos., a value-add multifamily investment firm based in Atlanta, has purchased Bay Meadows, a 276-unit apartment community in Clearwater, for $34.2 million. The property is RADCO’s third acquisition in 2015 and its second property in the state of Florida. The apartment community features a 2,500-square-foot leasing center that has a fitness facility, office space and meeting areas. The property also has a pool that overlooks a lake situated in the center of the community. RADCO financed the acquisition using a mixture of Freddie Mac debt and private capital. Built in 1985, the apartment community is located within the master-planned Feather Sound Country Club. The property was 97.1 percent occupied at the time of sale. RADCO plans to invest $3.6 million to upgrade the apartment community and rebrand the community as Ashford at Feather Sound. Since August 2011, RADCO has raised more than $230 million of private capital to fund its purchases.
OWINGS MILLS, MD. — The Greysteel Co. has brokered the $31.7 million sale of New Town Village Center, a 117,593-square-foot grocery-anchored shopping center located at 9700-9780 Groffs Mill Drive in Owings Mills. Constructed in 1996, the shopping center was 98 percent leased at the time of sale to tenants such as Giant Food, Starbucks Coffee, Hair Cuttery, M&T Bank, Merritt Athletic and Ledo Pizza. Gil Neuman of Greysteel’s Mid-Atlantic office led the Greysteel team in representing the seller, Black Oak Associates LLC. Greysteel also procured the buyer, Inland Real Estate Group Inc.
STAMFORD, CONN. — Cushman & Wakefield has brokered the sale of Airport Campus, a two-building office campus located at 113 King Street in Stamford. MBIA sold the property for an undisclosed price to a joint venture between affiliates of Steven Wise Associates LLC and the Manocherian family. Situated on 38 acres, the campus comprises a 110,000-square-foot building and a 190,000-square-foot property, as well as approvals to expand the facility by more than 240,000 square feet. The campus features a 250-person cafeteria; fitness center; auditorium and video conference center; 17 conference rooms; three meeting rooms; walking trails; tennis, basketball and volleyball courts; and facilities for a sundry shop, ATM, dry cleaner and professional mailroom. Thomas O’Leary, Maureen O’Boyle and Gerry Lees of Cushman & Wakefield represented the seller in the transaction. The buyer has retained Trip Hoffman, Matthew Lisk and Mike McCarthy of Cushman & Wakefield as leasing agents for the property.