more_sales_and_leases

Commercial Realty Group Buys 142,620 SF Industrial Building in New Jersey

by Amy Works April 8, 2015

PARSIPPANY, N.J. — Commercial Realty Group (CRG) has acquired an industrial building, located at 7 Eastmans Road in Parsippany, for an undisclosed price. CRG plans to reposition the 142,620-square-foot property to Class A status. Renovations and improvements will include a new roof and energy-efficient lighting, as well as raising ceiling heights to 24 feet in a portion of the building and upgrading the landscaping. Additionally, the buyer plans to reskin the building’s façade, upgrade the loading docks and expand the parking area. Jules Nissim, Stephen Elman and Chris Kinum of Cushman & Wakefield negotiated the transaction and represented the seller, a trust, in the deal. Additionally, CRG has retained Cushman & Wakefield to market and lease the property.

April 8, 2015

District of Columbia Multifamily Southeast

Greysteel Brokers Sale of Apartment Community in Northeast D.C.

by John Nelson April 8, 2015

WASHINGTON, D.C. — The Greysteel Co. has brokered the sale of Hampton Park, a 24-unit multifamily that also includes an adjacent land parcel located at 1215-1225 49th St. in northeast Washington, D.C. The property is located in Washington’s Deanwood neighborhood and is situated three blocks from the Deadwood Metrorail station. The seller, Mary Jenkins, sold the asset to Saha Capital Investments LLC for an undisclosed amount. Ari Firoozabadi, Kyle Tangney, John Mullen, Lance Ahmadian, Mike Bediones, Jake Ying and Alicia Orkisz of Greysteel represented the seller in the transaction.

April 8, 2015

New York Northeast Office

WeWork Leases 180,000 SF of Office Space in NYC’s Times Square

by Amy Works April 8, 2015

NEW YORK CITY — WeWork has signed a 19-year lease for 180,000 square feet of office space at 1460 Broadway in Times Square. The company will occupy the entire 16-story building except for the second and third floors, which will be converted into a multi-level retail space. WeWork, a provider of shared workspace, community and services for entrepreneurs, freelancers, startups and small businesses, will take occupancy of the property later this year. The property is jointly owned by Himmel + Meringoff and The Swig Company. Additional terms of the lease were not released.

April 8, 2015

Industrial Utah Western

Haemonetics Leases Space at Price Bangerter Building in Salt Lake City

by Nellie Day April 8, 2015

SALT LAKE CITY – Haemonetics has signed a 12-year lease for 154,601 square feet of manufacturing space at the Price Bangerter building in Salt Lake City. The Class A space is located at 1555 S. Gramercy Road. This is the blood management firm’s second facility in the region. The new facility will handle its Western United States distribution requirements. Haemonetics was represented by Steve Condie of Newmark Grubb ACRES (NGA) and DTZ’s Kevin Hanna. The landlord, Price Realty Group, was represented by NGA’s Kyle Roberts.

April 8, 2015

Multifamily Seniors Housing Texas

Stroud Cos. Arranges Sale of Four Assisted Living Facilities in Texas

by Haisten Willis April 7, 2015

HOUSTON, AUSTIN AND ODESSA, TEXAS —Dallas-based Stroud Development and Stroud Investments have finalized the sale of four assisted living and memory care communities in the Houston, Odessa and Austin Markets to ROC Seniors. The sale, valued at more than $70 million, was financed using the HUD 232 debt program and has been a joint venture project with Orchard Park Senior Living. Development began in 2011. Bedford, Texas-based Arrive Architecture Group designed the Orchard Park communities. Each community serves 57 assisted living residents and includes a separate secured wing serving 40 Alzheimer’s and/or dementia care residents. The Orchard Park communities also feature landscaped courtyards, private dining amenities, special events venues, fitness and wellness areas, therapy rooms and a salon. Additional services include transportation, wellness programs, weekly linen and housekeeping services and assistance with activities of daily living.

April 7, 2015

Industrial Texas

Lee & Associates Arranges 73,986 SF Sale of Industrial Property in Metro Dallas

by Haisten Willis April 7, 2015

CARROLLTON, TEXAS — Lee & Associates arranged the sale of a 73,986-square-foot industrial building located at 1207 Crosby Road in Carrollton. Nathan Denton of the Dallas/Fort Worth office of Lee & Associates represented the buyer, 1207 Crosby Partners I LLC. Scott Moore with Holt Lunsford Commercial represented the seller, Thackery Partners.

April 7, 2015

Office Texas

Colvill Arranges 35,053 SF Office Lease Renewal in Dallas

by Haisten Willis April 7, 2015

DALLAS — Colvill Office Properties has arranged a 35,053-square-foot office lease renewal on behalf of Hines REIT to Greenberg Traurig at Chase Tower, a 1.3 million-square-foot, Class A tower in downtown Dallas. Blaine Hale and Cameron Colvill of Colvill Office Properties represented Hines in the lease negotiations. Phil Puckett, Jeff Ellerman and Harlan Davis of CBRE represented the tenant. Located at 2200 Ross Ave., Chase Tower is undergoing a capital improvement campaign, which will include the addition of a new fitness center, new executive lounge and boardroom, new main entry and sky lobby and updates to the parking garage.

April 7, 2015

Retail Texas

Coldwell Banker Commercial Brokers Sale of Shopping Center in Metro Austin

by Haisten Willis April 7, 2015

PFLUGERVILLE, TEXAS — The Net Leased Investment Group for Coldwell Banker Commercial has arranged the sale of Pflugerville West Shopping Center in Pflugerville. The 67,149-square-foot shopping center was 89 percent leased at the time of the sale. Parker Carroll of Coldwell Banker Commercial represented the seller, Retail Pflugerville Partners, in the transaction. The buyer was not named.

April 7, 2015

Florida Multifamily Southeast

Marcus & Millichap Brokers $21M Sale of Two Multifamily Properties in Tampa Bay Area

by John Nelson April 7, 2015

CLEARWATER AND TAMPA, FLA. — Marcus & Millichap has brokered the $21 million sale of two apartment communities in the Tampa Bay area. The buyer, Montreal-based Groupe Mach Inc., purchased the 200-unit Royal Breeze Apartments in Clearwater for $13.9 million and the 168-unit Lenox Place Apartments in Tampa for $7.1 million. Casey Babb, Luis Baez and Moe Derbala of Marcus & Millichap’s Tampa office represented the seller, Tampa-based Hachem Investments, in the transaction. Groupe Mach was represented internally.

April 7, 2015

Multifamily Northeast Pennsylvania

Lowe Enterprises, First Capital Advisors Buy 116-Unit Silk Factory Lofts

by Amy Works April 7, 2015

LANSDALE, PA. — A joint venture between Lowe Enterprises Investors and First Capital Advisors has acquired Silk Factory Lofts, a 116-unit apartment community located at 200 S. Line St. in Lansdale, for an undisclosed price. Originally built in 1922 as the Interstate Hosiery Mill, the building was converted to a multifamily property in 2008. The 99 percent-occupied property features a mix of one-, two- and three-bedroom units with open floor plans, high ceilings, large windows and modern finishes. Community amenities include a fitness center, community room and landscaped courtyards. The joint venture plans to upgrade unit finishes and complete improvements to the common areas. Greystar has been retained to manage the property. Jones Lang LaSalle represented the seller, an affiliate of Morgan Properties, in the transaction.

April 7, 2015

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