SPRINGFIELD, ILL. — Foresite Realty Partners LLC has negotiated the sale of Bally Vaughn Apartments in Springfield in central Illinois for an undisclosed price. The 72-unit property consists of 60 two-bedroom and 12 three-bedroom units in four buildings. The property has been vacant for the past four years. Kristen Keehnast and Ryan Nelson of Foresite Realty represented the seller in the transaction. The buyer, an out-of-state investor, plans to rehab the property.
AUSTIN, TEXAS — Retail Solutions has secured a retail lease in Austin on behalf of Enterprise Rent A Car. Enterprise will occupy 49,246 square feet on a pad site located at 5350 State Highway 290. Barret Espe of Retail Solutions represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
PORT ARTHUR, TEXAS — Colliers International has negotiated the sale of an 8,000-square-foot retail property located at 5255 Twin City Highway in the Gulf Coast city of Port Arthur. The asset is triple-net-leased asset to home furnishings retailer Aaron’s. Riley Sharman of Colliers represented the seller, The Benjamin Revocable Trust, based in Nevada, in the transaction. The name of the buyer, a private investor, was not released.
ANTIOCH, CALIF. — Westcore Properties has purchased Antioch Distribution Center, a 665,775-square-foot manufacturing/distribution project in Antioch, for $32.4 million. The two-building center is located at 2200 to 2300 and 2110 Wilbur St. Westcore represented itself, while Steve Hermann, Scott Bertrand and Brooks Pedder of Cushman & Wakefield represented the seller, The Covington Group, in this transaction.
SCOTTSDALE AND TEMPE, ARIZ. — TA Realty has purchased a 266,607-square-foot industrial portfolio near Phoenix for $24.5 million. The portfolio is situated in Scottsdale and Tempe. The properties include four industrial/flex assets at 9160 S. McKemy St. and 9185 and 9245 S. Farmer Ave. in Tempe, and 7400 E. Tierra Buena Lane in Scottsdale. The portfolio is more than 96 percent leased to 12 tenants across industries like IT services, transportation, automotive and home improvement. JLL’s Capital Markets team represented the seller, The Hewson Company, in this transaction.
SAN FRANCISCO — Shorenstein Co. has purchased an 89,904-square-foot creative office building in the San Francisco submarket of North Waterfront-Jackson Square for an undisclosed sum. The building is located at 901 Battery St. The Swig Company and Medley Partners purchased the asset in December 2012. The JV immediately executed a capital investment program designed to reposition the four-story building as an institutional-quality asset in a submarket growing in popularity with creative tenants. The team recently completed lobby and façade renovations, and upgrades to each tenant floor. The renovated building features large, open floorplates, natural light and high ceilings. NKF’s Kyle Kovac, Michael Taquino, Daniel Cressman and Mandy Lee represented the sellers in this transaction.
DALLAS — Lee & Associates has brokered the sale of a 1,750-square-foot industrial facility located at 2029 E. Levee St. in Dallas’ Design District. The seller, Arte de Arquitectura de Mexico, will be moving from the facility into space at 3414 Doug Drive in Dallas in January 2018. Stephen Williamson of Lee & Associates’ Dallas/Fort Worth office represented the seller in the transaction. Hanes Chatman of Stream Realty Partners represented the buyer, Myrtle Faye Investments LLC.
CONROE, TEXAS —Sherwin Williams has signed a 4,700-square-foot lease at The Shops at 336, a shopping center located along S. Loop 336 near Interstate 45 in Conroe, about 40 miles north of Houston. Stephen Phaigaru and Sandy Aron of Hunington Properties Inc. (HPI) represented the landlord in the lease negotiations. Other terms of the transaction were not disclosed.
RALEIGH, N.C. — CBRE | Raleigh has arranged the $8.6 million sale of a six-property Dollar General portfolio located throughout North Carolina. Joe Graham of CBRE | Raleigh led the 1031 tax deferred exchange on behalf of the seller, a company affiliated with Raleigh-based Vanguard Property Group, a development and investment management firm. Michael McManus of Marcus & Millichap represented the buyer, a local private investor. Each Dollar General location holds a long-term, triple-net lease.
NEW YORK CITY — Trinity Place Holdings has entered into an option agreement to acquire a newly built apartment building, located at 237 11th St. in Brooklyn’s Park Slope neighborhood, for $81 million. The 12-story building features 105 apartment units and 6,264 square feet of retail space, which is leased to Starbucks Coffee. On-site amenities include a courtyard garden, party room, fitness center, tenant lounge, bicycle storage room, parking and a landscaped rooftop terrace. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2018. The name of the seller was not released.