DALLAS — Colliers International has acquired Conger and Sutherland Enterprises (CASE) Commercial Real Estate Partners. Dallas-based CASE was formed when Tom Sutherland and John Conger acquired GVA Cawley from Dallas real estate investor and developer Bill Cawley in April of 2008. Sutherland and Conger have grown the company to 50 employees, serving both tenants and investors, since the acquisition. Both firms are active in investment sales, but CASE caters more to private capital, according to Colliers’ regional manager David Pinsel. The deal takes Colliers from about 45 local brokers to about 80, with more than 180 total employees in Dallas and Fort Worth. CASE will be rebranded as Colliers International, and its Dallas team will move to Colliers’ Uptown office at 1717 McKinney Ave. in the coming months. Colliers International is a subsidiary of FirstService Corp., which generates about $2.7 billion in annual revenue and has more than 24,000 employees worldwide.
LAREDO, TEXAS — Majestic Realty Co. has purchased a 2000-acre site from a subsidiary of Mercedes-Benz. Majestic plans to redevelop the site with warehouse distribution space to support commerce between Mexico and the United States. Laredo is a customs district with annual U.S-Mexico trade totaling $230 billion. Majestic executives have begun master-planning the development with the aim of putting the first phase of development into production immediately.
SAN DIEGO – Mission View Plaza, a 52,118-square-foot office building in San Diego, has sold to PWI CDRS LP for $8.1 million. The building is located at 3517 Camino Del Rio South. It was built in 1988. The LP was represented by Brian Jenkins and Mike Conger of ECP Commercial. The seller, Stephens Properties, was represented by Derek Hulse and Derek Applbaum of Colliers International.
SALT LAKE CITY – A 27,300-square-foot office building in Salt Lake City has sold to 210 FLT Realty for $4.7 million. The building is located within the Salt Lake City-Provo-Orem combined statistical area. It serves as the state headquarters for the Utah Division of Disability Determination Services (DDS). The transaction was executed by Brian Corriston and Steve Wolff of Stan Johnson Company.
LOS ANGELES – Essential Management has acquired a 16-unit apartment building in Los Angeles for $2.4 million. The community is located at 634 N. Kingsley Drive. It is fully occupied. Essential Management was represented by Joseph Mackin of Charles Dunn Company. The seller, a private overseas investor, was represented by First Investment & Realty.
NEW YORK CITY — Eastern Consolidated has arranged the off-market sale of a development site located at 207 West 79th St. on the Upper West Side. Anbau Enterprises purchased the 6,600-square-foot site for $39 million from 79th Street Associates LLC. The site offers 60,000 buildable square feet. The buyer plans to demolish the existing five-story building and develop a 13-story luxury condominium project on the site. George Moss of Eastern Consolidated procured the buyer, while Deborah Gutoff, also of Eastern Consolidated, represented the seller in the transaction.
BELLMAWR, N.J. — Colliers has brokered the sale of two industrial/flex buildings at Korman’s Interstate Business Park in Bellmawr. Bellmawr Industrial and Technology Center LLC purchased the properties for $2.7 million from Korman Commercial Properties. The assets, which total more than 96,000 square feet, are located at 420 and 440 Benigno Blvd. The two-building property, called Kor-Center, is a multi-tenant complex. Current tenants are Show-n-Tell Media, an affiliate of the buyer; Dade Paper; Spectrum Show Services; and JDJ Construction; among others. Marc Isdaner of Colliers represented the seller in the transaction.
SYRACUSE, N.Y. — Philadelphia Mills, Pa.-based PaperWorks Industries has signed a lease for 496,200 square feet of industrial space in Syracuse. PaperWorks has leased the space from Orangeball LLC through 2032. Dennis Hennessy of COR Brokerage represented the landlord, while Mark Rupprecht of CBRE/Syracuse represented the tenant in the transaction. Additional terms of the lease were not released.
FOREST PARK, GA. — A joint venture between Sealy & Co. and AEW Capital Management have sold Overmyer Way Industrial Park in Forest Park, a major industrial submarket located south of Atlanta. The buyer and sales price were undisclosed. The 242,000-square-foot development featured 28-foot clear heights, truck courts, outdoor storage options and spaces ranging from 20,000 to 80,000 square feet. The joint venture purchased the industrial park in 2014.
RICHARDSON, TEXAS — KBS Strategic Opportunity REIT, a public, non-traded real estate investment trust based in Newport Beach, Calif., has signed two lease renewals at its Richardson Office Portfolio property totaling 22,511 square feet. Cheryl Mullin & Associates, a law firm, and National Write Your Congressman, an organization dedicated to facilitating communication between elected officials and their constituents, have both renewed their leases. Cheryl Mullin & Associates renewed a 9,340-square-foot lease, while National Write Your Congressman renewed a 13,171-square-foot lease. The buildings are located near the intersection of US-75 Central Expressway and the President George Bush Turnpike. Mark Jordan of Sooner National Property Management LP represented KBS Strategic Opportunity REIT in the transactions.