more_sales_and_leases

CBRE Arranges Sale of Two Apartment Complexes in Dallas

by Haisten Willis March 27, 2015

DALLAS — CBRE Capital Markets has arranged the sale of Chapel Brook Apartments in northeast Dallas and Crosswinds Apartments in west Dallas. In a double tax exchange, Crosswinds Estates LLC purchased Chapel Brook from Santa Barbara, Calif.-based EXC Ventures LLC, while EXC Ventures LLC purchased Crosswinds Apartments from Crosswinds Estates LLC. Chris Deuillet of CBRE represented both sellers. Chapel Brook Apartments is a 204-unit community at 9765 Webb Chapel Road in the Bachman Lake area. It was constructed in 1969 and is 93 percent occupied. Crosswinds Apartments is a 48-unit, value-add community at 515 W. 10th St. in the Bishop Arts District. It was constructed in 1964 and is 96 percent occupied.

March 27, 2015

Syndicate Fund Purchases Burleson Retail Center in Metro Dallas

by Haisten Willis March 27, 2015

BURLESON, TEXAS — Bloomfield Frontline Burleson Retail LLC has purchased a 17,860-square-foot shopping center located at 1055 SW. Wilshire Blvd. in Burleson. The company is a syndication partnership set up by managing partners Steve Fithian and Thomas Wilson. Clint Montgomery of Sperry Van Ness/Visions Commercial represented the seller, SPCP Group VI LLC. Built in 2008 on 2.3 acres, the retail center is located in the main Burleson retail corridor, adjacent to a Walmart. Tenants include CATO Fashions, Shoe Show, Fred Loya & Rodney D. Young Insurance, World Finance Corp. of Burleson and Perla Dental. The property was purchased through a real estate syndication set up by Fithian and Wilson.

March 27, 2015

Multifamily Texas

ARA Newmark Arranges Sale of 195-Unit Apartment Complex in Austin

by Haisten Willis March 27, 2015

AUSTIN, TEXAS — ARA Newmark has arranged the sale of a 195-unit apartment community located in the south central submarket of Austin. New York-based Clarion Partners sold Platinum Southside to FrontRange Capital Partners, a Denver, Colo.-based private equity firm that focuses on investments in both real estate and business operations. The property was 95 percent occupied at the time of sale. Platinum Southside was built in 2009. Layouts range from one-bedroom to two-bedroom designs. Amenities include a clubhouse, café with WiFi, billiards, business center, pool, grilling stations and picnic areas. Patton Jones of ARA Newmark represented Clarion Partners in the sale.

March 27, 2015

Mixed-Use Restaurant Retail South Carolina Southeast

NAI Avant Brings Retail Portion of Mixed-Use Property in Downtown Charleston to Full Occupancy

by John Nelson March 27, 2015

CHARLESTON, S.C. — NAI Avant has secured retail tenants for all five available suites in The Grand at Midtown, a mixed-use apartment community located at the corner of Meeting and Spring streets in downtown Charleston. King of Pops, a gourmet popsicle company, and an unnamed retailer will join existing retailers Edward Jones, Bull Street Market and CHS Revolution at the property, which was formerly known as Elan Midtown. Phillipa Ward of Arthur Ravenel Commercial Realty represented King of Pops in the 615-square-foot lease transaction. Amanda Reeves of Lee & Associates represented the unnamed retailer in the 1,575-square-foot lease deal. Scott Peevy and Ruth Marie Embler of NAI Avant represented the landlord, Meeting Street Realty Co., in the lease negotiations.

March 27, 2015

Massachusetts Northeast Office

Transwestern | RBJ Brokers $22.3M Sale of Two Office Buildings in Massachusetts

by Amy Works March 27, 2015

WALTHAM, MASS. — Transwestern | RBJ has brokered the sale of two office buildings, located at 1432 and 1440 Main St. in Waltham. Charles River Realty Investors and Crosspoint Associates Inc. sold the properties to Ferris Development for $22.3 million. The two-building portfolio totals 134,839 square feet of office space and is 90 percent occupied. Ferris Development plans to upgrade the base infrastructure of the buildings and make cosmetic improvements to the lobbies, common areas and restrooms. Chris Skeffington, Ron Friedman and Roy Sandeman of Transwestern | RBJ represented the seller and procured the buyer in the transaction.

March 27, 2015

Mixed-Use New York Northeast

Kinsey Capital Arranges Sale of Upper East Side Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Kinsey Capital has arranged the sale of a mixed-use property, located at 808 Lexington Ave. in Manhattan’s Upper East Side. An affiliate of ICON Realty Management purchased the property for $9.7 million, or $1,500 per square foot. Fig & Chain occupies the retail portion of the building. Brent Glodowski and James Kinsey of Kinsey Capital were the sole brokers in the transaction.

March 27, 2015

Mixed-Use New York Northeast

Cushman & Wakefield Arranges Sale of East Harlem Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building, located at 2147 Second Ave. in Manhattan’s East Harlem neighborhood. The nine-story building sold for $7.5 million, or $465 per square foot, in an all-cash transaction. The newly constructed 16,128-square-foot property features 16 residential units and 1,950 square feet of ground-level commercial space. Lev Kimyagarov of Cushman & Wakefield represented the seller, while Edmond Levy of Cornerstone Real Estate Investments represented the seller in the transaction. The names of the seller and buyer were not released.

March 27, 2015

Multifamily New York Northeast

Shamah Properties Buys Eight-Building Multifamily Portfolio in Manhattan

by Amy Works March 26, 2015

NEW YORK CITY — Shamah Properties has acquired an eight-building multifamily portfolio for $44 million from Brooklyn, N.Y.-based E&M Associates. Located in Manhattan’s Washington Heights neighborhood, the 138,214-square-foot, 184-unit portfolio includes 535-539 West 162nd Street, 522-536 West 147th Street and 521-523 West 156th St. Steven Vegh of Westwood Realty Associates represented both the seller and buyer in the transaction. Additionally, Edward Setton of Shamah Properties negotiated the purchase and financing on behalf of the buyer. Shamco Management, Shamah Properties’ in-house management company, will manage the assets.

March 26, 2015

New York Northeast Retail

CPEX Brokers $4.5M Sale of Brooklyn Retail Property

by Amy Works March 26, 2015

NEW YORK CITY — CPEX has arranged the sale of a retail property located at 2038-2050 Flatbush Ave. in Brooklyn. The 15,000-square-foot property sold for $4.5 million, or $300 per square foot. The four-unit property was 76 percent occupied at the time of sale. Current tenants are Telco Stores and Sports Physical Therapy of NY. Andre Sigourney and Harrison Balisky of CPEX’s retail sales team represented the seller and buyer in the transaction. The names of the seller and buyer were not released.

March 26, 2015

Massachusetts Northeast Office

Akamai Technologies Leases 67,000 SF in Cambridge Innovation District

by Amy Works March 26, 2015

CAMBRIDGE, MASS. — Akamai Technologies, a provider of cloud services, has signed a 10-year lease for 67,000 square feet at 50 Hampshire in Cambridge. The company will occupy the entire sixth and seventh floors of the building and use the space to expand its Cambridge office, which serves as its U.S. headquarters. BioMed Realty owns the property, which will be 50 percent leased once Akamai takes occupancy. Terms of the transaction were not released.

March 26, 2015

Newer Posts

Older Posts

Upcoming Events

Aug
18