more_sales_and_leases

Tulfra Real Estate, Hamsphire Cos. Acquire 202,000 SF Distribution Facility

by Amy Works April 10, 2015

CLIFTON, N.J. — Tulfra Real Estate has partnered with Hampshire Cos. to acquire a distribution facility located at 65 Industrial St. South in Clifton for an undisclosed price. The former Glaxo SmithKline building, features 202,000 square feet of space, including 28,000 square feet of office space, as well as 16 loading docks and 200 on-site parking spaces. The buyers have launched a major repositioning program for the former manufacturing plant to convert the property to a single-tenant use and increase the ceiling height to 27 feet. Additional renovations include a new ESFR sprinkler system, new exterior skin, T5 lighting, epoxy floors and new electrical and mechanical systems, as well as 22,000 square feet of space for lab and/or office use. The name of the seller was not released.

April 10, 2015

Northeast Retail Rhode Island

RK Centers Acquires 98,575 SF Retail Center in Rhode Island for $16.7M

by Amy Works April 10, 2015

MIDDLETOWN, R.I. — RK Centers has acquired Middletown Village, a retail center located on Route 114 in Middletown, for $16.7 million. The 98,575-square-foot center is occupied by a variety of national tenants, including Barnes & Noble, Sports Authority, Michaels and Petco. The name of the seller was not released.

April 10, 2015

Multifamily Texas

Greysteel Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis April 10, 2015

GRAND PRAIRIE — The Greysteel Co., a Washington, D.C.-based real estate investment services firm, has arranged the sale of Rose Garden, a 57-unit apartment community located at 2718 Sherman Street in Grand Prairie. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel represented NYE LLC in the sale of Rose Garden to Series C of Intelligent Investments LLC. Built in 1968, Rose Garden is a six-building, 43,670-square-foot property consisting of 33 one-bedroom units and 24 two-bedroom units. The property is located near prominent entertainment hubs, retailers and restaurants, and offers access to nearby amenities.

April 10, 2015

Multifamily Texas

Berkadia Negotiates Sale of Two Texas Multifamily Properties

by Haisten Willis April 10, 2015

AUSTIN AND GALVESTON, TEXAS — Berkadia has negotiated the sale of two multifamily properties in Texas. George Deuillet III and Forrest Bass of Berkadia’s Austin office negotiated the sale of Capitol Village Apartments located in Austin. Chip Nash, Greg Austin, Wade Schmitz and Bob Heard of the firm’s Houston office negotiated the sale of Driftwood Apartments in Galveston. Both sales closed on March 31. Capitol Village Apartments, located at 6855 E. Highway 290 in Austin, was built in 1969. The 249-unit property features studio, one-, two- and three-bedroom layouts. Unit amenities include kitchens with electrical appliances, balconies, patios, fireplaces, ceiling fans and walk-in closets. Community amenities include a swimming pool, clubhouse, playground, fitness center and business center, as well as barbeques, carports and two laundry facilities. The property, which is 96 percent occupied, is located on Highway 290 near State Route 183. The seller was InterGroup Corp. of Los Angeles and buyer was a private investor from San Francisco. Built in 1982, Driftwood Apartments is located at 7019 Lasker Drive in Galveston and is 97 percent occupied. The 238-unit property features one- and two-bedroom layouts, and unit amenities include kitchens, pantries, balconies, patios, washer and dryer connections, walk-in closets and …

April 10, 2015

Arizona Industrial Western

SmartStop Self-Storage Buys Facility in Tempe For $4.4M

by Nellie Day April 10, 2015

TEMPE, ARIZ. – SmartStop Self Storage has acquired a 350-unit self-storage facility in Tempe for $4.4 million. The facility is located at 3803 South Priest Drive. It is currently 89 percent occupied. The facility was built in 2005. SmartStop owns five other facilities in the Phoenix area. The new facility will be managed by and rebranded under the SmartStop flag.

April 10, 2015

Florida Industrial Southeast

CBRE Arranges 230,600 SF Distribution Center Lease in Broward County

by John Nelson April 10, 2015

WESTON, FLA. — CBRE has arranged a long-term 230,600-square-foot industrial lease in Weston. The tenant, Gold Coast Freightways, originally occupied half of the Class A distribution center but will now lease the entire facility. Tom O’Loughlin and Larry Genet of CBRE represented the landlord, Clarion Partners, in the lease transaction. Luis Marquez of the Casal Group represented Gold Coast Freightways, a less-than-truck-load carrier based in Miami.

April 10, 2015

Arizona Industrial

Phoenix Distribution Building Sells for $5.1M

by Nellie Day April 9, 2015

PHOENIX – A 94,885-square-foot distribution building in Phoenix has sold to Cohen Asset Management for $5.1 million. The building is located at 2021 E. Jones Ave. It is situated southwest of Phoenix Sky Harbor International Airport. Cohen was represented by Matt McDougall of Lee & Associates. The seller, Michael Lewis Company, was represented by DTZ’s Andy Cloud.

April 9, 2015

Loans Multifamily Texas

Pillar Arranges $9.2M Loan for Multifamily Property in Metro Dallas

by Haisten Willis April 9, 2015

FRISCO, TEXAS — Pillar has arranged a $9.2 million Fannie Mae acquisition loan for Stonebrook Village, a multifamily affordable housing property. Stonebrook Village includes one-, two- and three-bedroom apartment units located in Frisco. The property was developed in 1994. Marc Cesare of Pillar’s Dallas office originated the fixed-rate, 10-year term loan with a 30-year amortization schedule. Stonebrook Village is located near the North Dallas Tollway and just north of the new Dallas Cowboys world headquarters scheduled for completion in 2016.

April 9, 2015

Retail Texas

M&M Arranges Sale of Retail Property in Metro Houston

by Haisten Willis April 9, 2015

LEAGUE CITY, TEXAS — Marcus & Millichap has arranged the sale of Centre At South Shore Harbour, a 28,150-square-foot retail property located in League City. Matthew Mignerey and Derek Hargrove of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Mignerey and Hargrove also secured and represented the buyer, a private investor. Centre At South Shore Harbour is located at 2800 Marina Bay Drive.

April 9, 2015

Office Texas

Caddis Sells Southwest Medical Portfolio to Griffin-American Healthcare REIT III

by Haisten Willis April 9, 2015

DALLAS AND HOUSTON — Caddis has sold its southwest medical office building portfolio to Griffin-American Healthcare REIT III Inc. The portfolio, totaling 182,528 square feet, includes two medical office buildings located in metro Houston, one medical office building in metro Dallas in addition to a hospital/medical office building complex in Durango, Colo. The Texas properties include Winding Way Medical Plaza, a two-story, 27,405-square-foot building, which was built in 2008 and is located in Friendswood. It is 92 percent occupied. Memorial Hermann is the anchor tenant; South Texas Medical Clinic, a two-story, 55,000-square-foot medical office building located in Wharton. It is fully leased to Memorial Hermann Medical Group. Services in the building include family practice, internal medicine, obstetrics/gynecology, neurology, radiology and a lab and pharmacy. It was built in 1987; Keller Medical Plaza, a 31,070-square-foot, retail-style building, which was completed in 2011 in Keller. It is 94 percent leased, primarily to Texas Health Resources (THR) and THR affiliates, including anchor primary care and sports medicine tenants.

April 9, 2015

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