BOCA RATON, FLA. — CBRE has brokered the $23.8 million sale of Glades Twin Plaza, a 98,312-square-foot boutique office building located at 2300 Glades Road in Boca Raton. Built in 1982 and renovated in 2010, the office property was 77 percent leased at the time of sale. Christian Lee, Jose Lobon, Charles Foschini, Chris Apone and Michael Erickson of CBRE represented the seller, a fund managed by BlackRock, in the transaction. The buyer was Dallas-based L&B Realty Advisors.
MIAMI GARDENS, FLA. — Marcus & Millichap has brokered the $9.7 million sale of Shoppes of Ives Dairy, a 24,597-square-foot shopping center located at 19801 N.W. 2nd Ave. in Miami Gardens. Constructed in 2006, the center’s tenant roster includes Chili’s Restaurant & Bar, Bank of America, Starbuck’s Coffee, Wells Fargo Bank, Amscot Financial and Foot Locker. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller, a Miami-based limited liability company, and the buyer, an investment group based in New York.
CHARLOTTE, N.C. — Co-owners Grubb Properties and New York Life Real Estate Investors have signed Frontier Capital, a growth equity firm based in North Carolina, to a long-term lease for the top floor of 525 North Tryon Street, a 19-story office building in Uptown Charlotte. Frontier will use the 12,600-square-foot space as its new headquarters beginning in September. Andy Horsey of Cresa Charlotte represented Frontier Capital in the lease transaction. Jonathan Nance of Grubb Properties, along with Meredith Ball and Mark Holoman of Cushman & Wakefield | Thalhimer, represented the ownership group.
NEW YORK CITY — RKF has brokered the sale of a 19,008-square-foot commercial condominium located at 100 West 93rd St. on the Upper West Side in New York City. Coltown Properties acquired the property for $16.5 million and subsequently leased the property to Manhattan Children’s Center, a school that provides scientifically based treatment and education to children with autism spectrum disorders. The two-story asset features 13,834 square feet on the ground floor and 5,174 square feet on the second floor. David Abrams and Marc Finkel of RKF represented the buyer, while Michael Dubin of Savvit Partners represented the seller, Starrett Development. Additionally, Abrams and Finkel represented both parties in the lease transaction.
NEW YORK CITY — Admiral Capital Group and Four Winds Real Estate have acquired a three-building mixed-use portfolio in downtown Manhattan for an undisclosed price. The portfolio features 61 residential units and four commercial units at 106 Ridge St., 118 Ridge St. and 110 Ridge St. The acquisition is Admiral’s first investment in New York City, and it expands Four Winds’ existing multifamily portfolio on the Lower East Side. The seller was a private investor group that owned the properties for more than 30 years. Jarett Kaplus of Admiral and David Schneiderman and Joshua Landau of Four Winds led the transaction teams. The sale was brokered by Eastern Consolidated.
NEW YORK CITY — GFI Realty Services has brokered the sale of a multifamily property located at 15-21 Crooke Ave. in Brooklyn’s Prospect Park South district. A local investor acquired the property for $14.2 million, or $264,000 per unit, in an off-market transaction from an undisclosed buyer. The six-story elevator building features 54 residential units. Erik Yankelovich of GFI Realty represented the buyer in the transaction.
NORTH HAVEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a professional/medical building located at 100 Broadway in North Haven. 100 Broadway North Haven LLC purchased the 11,000-square-foot property for $1 million from Bass Inc. Stephen Press of Press/Cuozzo represented the buyer, while Susan Criscuolo, also of Press/Cuozzo, represented the seller in the transaction.
BULVERDE, TEXAS —Trulan Property Advisors has brokered the sale of the Berry Oaks Shopping Center, a 19,000-square-foot building located at 19851 Highway 46 in Bulverde. The property was 100 percent occupied at the time of sale. Jason Middlebrook of Trulan Property Advisors represented the seller, a San Antonio-based development partnership. Jimbo Cotton of McAllister and Associates represented the buyer, a private partnership.
FORT WORTH, TEXAS — Chestnut Development Partners, in a joint venture with Benbrooke Realty Investment Co., has purchased The Shops at Hulen in Fort Worth. This is Chestnut’s second investment in Texas and second joint venture with Benbrooke. The Shops at Hulen is a 28,382-square-foot shopping center that was constructed in 2005. Currently 59 percent leased, it is shadow-anchored by a Walmart Supercenter and located near the South Hulen retail submarket. Southwest Bank of Fort Worth provided debt financing for the acquisition. Tommy Tucker of The Shop Cos. represented the seller. Pretium Property Management will manage the property.
SEATTLE — ASB Real Estate has acquired the 108-unit REO Flats in Seattle for $47.1 million. The community is located at 1525 14th Ave. It features high-end finishes, a rooftop deck, skyline views and a preserved, historic brick façade. The sellers were Madrona Real Estate and Glenmont Capital Management. The sale was executed by JLL’s David Young, Corey Marx, Seth Heikkila and Matt Kemper.
