more_sales_and_leases

CBRE Brokers Sale of 99,059 SF Medical Campus in Suburban Philadelphia

by Amy Works April 24, 2015

PAOLI, PA. — CBRE has brokered the sale of Paoli Medical Plaza, a medical campus located adjacent to Paoli Hospital in Paoli. Griffin-American Healthcare REIT III Inc., through its sponsor American Healthcare Investors LLC, has acquired the three-building 99,059-square-foot property from Paoli Office Park Partners, a partnership affiliated with Blank Aschkenasy Properties, for an undisclosed price. Current tenants include Paoli Hematology/Oncology, Philadelphia Hand Center, Main Line Health, Premier Orthopedics, Aligned Medical Group, Urology Health Specialists, Women’s Health Care Group of PA and LabCorp. Steve Marzullo, Justin Marlowe, Chris Bodnar and Lee Asher of CBRE represented the seller in the transaction.

April 24, 2015

New Jersey Northeast Office

Colliers Arranges 30,000 SF Relocation for Paychex to One Centennial Plaza

by Amy Works April 24, 2015

PISCATAWAY, N.J. — Colliers International has arranged a long-term 30,000-square-foot lease for Paychex North America Inc. to relocate to One Centennial Plaza in Piscataway. Paychex, a provider of payroll, human resource and benefits outsourcing solutions for small to medium-sized businesses, will relocate to a portion of the first floor of the three-story, 236,961-square-foot office building this fall. The property features a conference and training center, security desk, on-site property management, 24/7 access, a full-service cafeteria and an outdoor seating area. Richard Madison and Jack Callahan of Colliers represented the landlord, while Michael Maroon of Acclaim Group represented Paychex in the transaction.

April 24, 2015

California Retail Western

Round One Family Entertainment Center to Open Six New U.S. Locations

by Nellie Day April 24, 2015

SAN FRANCISCO — Round One, a Japan-based, family friendly entertainment center, has announced plans to open six new locations this year throughout the U.S. This is in addition to the five centers it currently operates. Round One also intends to open eight more locations in 2016. The new concept will soon debut at Westfield Southcenter Mall in Seattle; Eastridge Shopping Center in San Jose, Calif.; and Main Place Mall in Santa Ana, Calif. It will also open outposts in Pennsylvania and Massachusetts. The family entertainment centers typically range between 45,000 square feet and 80,000 square feet. They offer a variety of activities like karaoke, bowling, billiards, ping pong and darts, in addition to food and beverage options. Round One has existing California locations at Lakewood Center Mall in Lakewood; Moreno Valley Mall in Moreno Valley; and Puente Hills Mall in the City of Industry. It also has centers in Texas and Illinois. The company is actively looking for new locations in gateway Northeast markets, as well as in strong retail trade areas like Washington, Oregon and California, according to RKF’s David Friedman, who arranged the six new leases for Round One. Round One currently operates more than 100 locations in …

April 24, 2015

California Retail Western

Smart & Final to Open New Concept Store at Lemon Grove Plaza in Oxnard

by Nellie Day April 23, 2015

OXNARD, CALIF. – Smart & Final has announced plans to open a new 43,200-square-foot Smart & Final Extra! store at Lemon Grove Plaza in Oxnard. The center is located on North Oxnard Boulevard. The company previously operated a 16,092-square-foot space within the center for the past 27 years. Smart & Final Extra! is larger than the company’s traditional warehouse stores, offering an expanded produce section with some organic items. Smart & Final was represented by Pamela Scott of Lee & Associates.

April 23, 2015

California Industrial Western

San Diego Industrial Building Sells for $2.1M

by Nellie Day April 23, 2015

SAN DIEGO – An 18,314-square-foot industrial building in the San Diego submarket of San Marcos has sold to Utah Prime Properties for $2.1 million. The building is located at 1585 Creek Street. The tenant, ESN Restoration, has four years remaining on its lease. Utah Prime was represented by Rusty Williams, Chris Roth and Kyle Carruthers of Lee & Associates – North San Diego County. The seller, Edward Allen Properties, was represented by Kidder Matthews.

April 23, 2015

Retail Utah Western

DUB Nutrition to Open Second Location in Utah

by Nellie Day April 23, 2015

CLEARFIELD, UTAH – DUB Nutrition has leased 7,221 square feet of office and retail space at Legend Hills office complex in Clearfield. The space is located at 1649 East 1400 South. This Class A office is one of only a handful of new gym facilities to emerge in Davis County within the past several years. DUB (Discover their Ultimate Bodies) assists individuals with their personal health challenges through healthy eating, exercise and nutrition supplements. The new facility will provide services like weightlifting, cardio, hot yoga, indoor cycling and full-service MMA. The grand opening is scheduled for Sept. 1. DUB was represented by Ryan Flint of Newmark Grubb ACRES.

April 23, 2015

Industrial Texas

Transwestern Arranges Sale of Industrial Property in Fort Worth

by Haisten Willis April 23, 2015

FORT WORTH — Transwestern’s Fort Worth office has arranged the sale of Riverbend Center on behalf of Klabzuba Realty LLC. Riverbend Complex LLC purchased the industrial/flex property located at 2301 – 2435 Gravel Drive and 7401 – 7445 Pebble Drive in Fort Worth for an undisclosed price. Steve Rowland, Jeff Givens and Tracy Georges of Transwestern represented the seller, Klabzuba. The 188,355-square-foot, four-building property was 90 percent leased at the time of sale. Riverbend Center includes 5,000 square feet of excess land for potential additional parking. Todd Lambeth of Colliers International represented Riverbend Complex in the transaction.

April 23, 2015

Retail Texas

HFF Brokers Sale of Power Center in Metro Houston

by Haisten Willis April 23, 2015

KATY, TEXAS — HFF has brokered the sale of Green Tree Shopping Center, a 147,658-square-foot, 99 percent leased power center in Katy. HFF arranged the sale of the property on behalf of the seller, a tenants-in-common ownership group managed by Joseph and Henry Mandelbaum of RealTax Inc. Inland American Real Estate Trust Inc. purchased the asset for an undisclosed amount. Tenants include TJ Maxx, PetSmart, Office Depot, Party City, Five Below, Ulta Salon, Famous Footwear, Mattress Firm, Bath & Body Works, GNC and Castle Dental. Target and Randall’s shadow-anchor the center. Renovated in 2004, the Green Tree Shopping Center spans 21.6 acres at 231-515 South Fry Road in Katy, a suburb west of Houston. Ryan West, Rusty Tamlyn, Matt Berry and Robbie Kilcrease led the HFF investment sales team representing the seller.

April 23, 2015

Retail Texas

M&M Arranges Sale of Retail Development Land Site in Metro Houston

by Haisten Willis April 23, 2015

MAGNOLIA, TEXAS — Marcus & Millichap has arranged the sale of a five-acre development site at FM 1488 and Carriage Hills located in Magnolia. Derek Hargrove of Marcus & Millichap’s Houston office handled the acquisition on behalf of the buyer, The Marcel Group. The buyer will begin construction of a new mixed-use development during the second quarter. Based in The Woodlands, The Marcel Group has developed and sold over 1 million square feet of retail and office projects.

April 23, 2015

New Jersey Northeast Office

NAI Mertz Brokers Three Transactions in Cherry Hill’s Golden Triangle

by Amy Works April 23, 2015

CHERRY HILL, N.J. — NAI Mertz has brokered three transactions in Cherry Hill. In the first transaction, Byrn Mawr Investments purchased a 28,000-square-foot office building, located at 706 Haddonfield Road, from Multiple Sclerosis Association of America for an undisclosed price. The buyer plans to redevelop the property into retail use by demolishing a portion of the building and converting it into parking spaces. Jeff Sloan of NAI Mertz negotiated the transaction. Sloan also represented Multiple Sclerosis Association of America in the acquisition of a 14,400-square-foot office building located at 375 N. Kings Highway. The seller was 375 NKH LLC. In the third deal, SportsArena Employees 137 Welfare Fund sold a two-story 11,683-square-foot office building, located at 1012 Haddonfield Road, to Several Properties and First American Exchange. Marc Cutler and John Brown of NAI Mertz were the sole brokers in the transaction. The prices for the transactions were not released.

April 23, 2015

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