CAMBRIDGE, MASS. — Biogen has signed a 10-year lease for 80,000 square feet of Class A laboratory and office space at BioMed Realty Trust Inc.’s 301 Binney St. property in Cambridge. Biogen — which develops, markets and manufactures therapies for neurological, autoimmune and hematological disorders — plans to use the space to expand its drug discovery efforts. This lease brings BioMed Realty’s property to 100 percent leased.
SAN DIEGO – Spike LLC has purchased a 50,220-square-foot industrial building in the San Diego submarket of San Marcos for $5.4 million. The building is located at 495 Enterprise Street. The buyer plans to hold the property as a long-term investment. The seller, Thornton Technology, leased back 50 percent of the property for an undisclosed period of time. Spike was represented by Justin Beattie of Palomar Commercial. Thornton Technology was represented by Daniel Knoke, Peter Merz, Marko Dragovic and Isaac Little of Lee & Associates-North San Diego County.
TEMPE, ARIZ. – The 58-unit Arizona Sun apartment community has sold to a limited liability company for $3.6 million. The community is located at 1895 & 1901 East Don Carlos Ave. Pete Te Kampe of Marcus & Millichap’s Phoenix office represented both the buyer and seller, another LLC, in this transaction.
COLUMBUS, GA. — America’s Realty, in partnership with ARCJ Capital, has purchased Fountain Park Shopping Center, a 107,105-square-foot grocery-anchored shopping center in Columbus. America’s Realty purchased the asset from Phillips Edison and Co. for approximately $5 million. The asset was 89 percent leased at the time of sale to tenants such as Winn Dixie, Dollar Tree, Gallery Wedding, China Café, Golden Beauty, Q Nails, Veri Best Donut and Farmers Home Furniture. The property is the fifth shopping center that America’s Realty has purchased in Georgia.
AUSTIN, TEXAS —Marcus & Millichap has arranged the sale of Star Center, a 20,000-square-foot retail property located in Austin. Michael Buckner and Richard Mireles, investment specialists in Marcus & Millichap’s Austin office, marketed the property on behalf of the seller, a partnership. Buckner and Mireles also secured the buyer, The Blood & Tissue Center of Central Texas. Star Center is located at 3110 W. Slaughter Lane.
PALM SPRINGS, CALIF. – The 121-unit Whispering Palms apartments in Palm Springs has sold to Latitude 33 LLC for $6.8 million. The community is located at 449 E. Arenas Road. The buyer was represented by Milburn Stevens of Lee & Associates Palm Desert. The seller, Metropolitan Management Company and City Center Real Estate, was also represented by Stevens.
LOS ANGELES – A 143,000-square-foot office park in the Los Angeles submarket of Northridge has sold to a local developer for $6.1 million. The building is located at 8350–8454 Reseda Blvd. It is currently occupied by three tenants in six buildings. The buyer, Harridge Capital Group, was represented by Lynwood Fields of Madison Partners. The seller, Lehr Properties, was represented by David Young and Chad Gahr of NAI Capital.
LINDEN, N.J. — CenterPoint Properties has acquired a 386,296-square-foot port-proximate industrial facility located at 1800 Lower Road in Linden for an undisclosed price. Situated on 18 acres, the fully leased property features 600 car parking spots, 30-foot ceiling heights, 59 docks and six drive-in doors. The property is currently leased to Waitex Group, a worldwide conglomerate of companies focusing on supply chain logistics, apparel, retail and real estate investment and development. Jeffrey Miller of Lee & Associates represented CenterPoint Properties in the transaction. The name of the seller was not disclosed.
BUFFALO AND SOUTH WALES, N.Y. — Hanley Investment Group has brokered the sale of four triple-net-leased 7-Eleven stores in Buffalo and South Wales for a combined total of $3 million. In Buffalo, a Tacoma, Wash.-based private investor purchased two 7-Eleven stores from a Buffalo-based investor. The 2,835-square-foot property at 741 Kenmore Ave. sold for $800,000, and the 2,842-square-foot property at 975 Abbott Road sold for $800,000. Jeremy McChesney of Hanley Investment Group represented both the seller and buyer in the transaction. Also in Buffalo, a private investor from San Francisco purchased a 7-Eleven property at 959 Niagara St. for $851,000. Michael Chow of Jones Pacific Land Co. represented the buyer, while McChesney represented the seller, a local private investor, in the deal. In South Wales, a Hermosa Beach, Calif.-based private investor sold a 2,080-square-foot 7-Eleven store at 6444 Olean Road to a San Francisco-based private investor for $525,000. McChesney represented the seller, while Chow represented the buyer in the transaction.
BURLINGTON AND ST. ALBANS, VT. — Nedde Real Estate has brokered the sales of four properties in Vermont. In the first deal, Grant Butterfield of Nedde Real Estate represented Mike DuPont in the acquisition of a three-unit multifamily property located at 54-56 Intervale Ave. in Burlington. Bessery Real Estate Partners, represented by Cannizzaro Real Estate, sold the property for an undisclosed price. In the second transaction, Butterfield arranged the sale of 137-139 Elmwood Avenue, a four-unit multifamily property located in Burlington. Mark Johnson sold the asset for an undisclosed price to Housing Strategies. In the third deal, Butterfield represented Eleven Eleven Enterprises LLC in the disposition of 30 South Main Street in St. Albans to Dominico Spano. The buyer plans to reopen the retail property, which was formerly Cosmic Bagel Bakery, as Round Table Bakery & Café. In the final transaction, Butterfield represented the undisclosed seller in the disposition of 222-224 South Winooki Avenue in Burlington. Karen LaPoint purchased the three-unit multifamily property for an undisclosed price.