more_sales_and_leases

Crossman & Co. Brings Publix-Anchored Shopping Center in Orlando to Full Occupancy

by John Nelson March 19, 2015

ORLANDO, FLA. — Crossman & Co. has signed Supercuts to a 1,300-square-foot lease at Cornerstone at Lake Hart, a 78,241-square-foot Publix-anchored shopping center located at the corner of Narcoossee and Moss Park roads in Orlando. The lease brings the center to full occupancy. The hair salon will join a tenant roster that features UPS, GNC, 7-Eleven, Giovanni’s Italian Restaurant & Pizzeria and Orlando Cleaners. Tyler Wilkins of Crossman & Co. co-brokered the lease transaction with Joanna Robinson of The Shopping Center Group.

March 19, 2015

Multifamily New York Northeast

Thor Equities Buys 68,000 SF Residential Building in Harlem

by Amy Works March 19, 2015

NEW YORK CITY — Thor Equities has acquired a residential building located at 98 Morningside Ave. in Harlem for an undisclosed price. Situated near Columbia University’s campus in Morningside Heights, the seven-story building features 48 rental units. Additional details of the acquisition were not released.

March 19, 2015

Multifamily Nevada Western

Reno Apartment Building Sells for $15M

by Nellie Day March 19, 2015

RENO, NEV. – A 206-unit apartment building in Reno has sold to M3 Multifamily LLC for $15 million. The Element Apartments is located near Meadowood Regional Mall. It is also near notable employers like Nevada Energy, Microsoft Licensing and Intuit Reno. The seller, FPA Multifamily, was represented by CBRE’s Aiman Noursoultanova.

March 19, 2015

Loans New Jersey Northeast Retail

Integra Real Estate Capital Arranges $14M Acquisition Loan in New Jersey

by Amy Works March 19, 2015

SOUTH BRUNSWICK, N.J. — Integra Real Estate Capital has arranged a $14 million acquisition loan for a shopping center in South Brunswick. A grocery store and Bank of America occupy the 77,500-square-foot South Brunswick Shopping Center. The New Jersey-based borrower received a non-recourse loan of 82.5 percent loan-to-value that features three years of interest-only payments. Meyer Perlman of Integra negotiated the financing through a national balance sheet lender.

March 19, 2015

Hospitality New Jersey Northeast

HREC Arranges Sale of 239-Room DoubleTree Princeton in New Jersey

by Amy Works March 19, 2015

PRINCETON, N.J. — HREC Investment Advisors has brokered the sale of a DoubleTree by Hilton hotel in Princeton. Located at 4355 U.S. Route 1, the 239-room hotel sold for an undisclosed price. Ketan Patel and Geoff David of HREC represented the undisclosed seller in the transaction. The name of the buyer was not released.

March 19, 2015

California Office Western

Wasserman Grossman & Sloan Renews at One Westwood

by Nellie Day March 19, 2015

LOS ANGELES – Business management and accounting firm Wasserman Grossman & Sloan LLP has renewed at One Westwood in the Los Angeles submarket of Westwood. The building is located at 10990 Wilshire Blvd. The firm initially subleased the building’s entire eighth floor in 2010. Its new five-year lease will take Wasserman through 2020. The lease is valued at $2.8 million. The firm was represented by Mitchell Stokes of Madison Partners. The landlord, Douglas Emmett, was represented in-house by Rob Zaas.

March 19, 2015

Hospitality Texas

FelCor Sells Embassy Suites Hotel in San Antonio

by Haisten Willis March 18, 2015

SAN ANTONIO — FelCor Lodging Trust Inc. has sold its 261-room Embassy Suites Hotel – San Antonio Airport for $29.5 million. FelCor will use the proceeds from selling this hotel to repay outstanding debt. Since 2010, FelCor has sold 35 non-strategic hotels for aggregate gross proceeds of $794 million.

March 18, 2015

Industrial Southeast Virginia

Goldstar Group Buys Industrial Warehouse in Northern Virginia for $9.4M

by John Nelson March 18, 2015

MANASSAS, VA. — The Goldstar Group, a private real estate investment and development firm, has purchased a 186,000-square-foot industrial warehouse facility located at 9061 Euclid Ave. in Manassas for $9.4 million. Constructed in 1977, the warehouse was 92 percent leased at the time of sale to two tenants. Stephen Perkins of Newmark Grubb Knight Frank represented the buyer and seller, Euclid Avenue Investors LLC, in the transaction. Clifford Mendelson of Metropolis Capital Finance arranged the debt and equity financing for the acquisition.

March 18, 2015

Industrial North Carolina Southeast

Piedmont Properties/CORFAC Brokers $4M Sale of Industrial Property in Charlotte

by John Nelson March 18, 2015

CHARLOTTE, N.C. — Piedmont Properties/CORFAC International has brokered the $4 million sale of an 80,000-square-foot industrial property located at 10210 Pineville Road in Charlotte. The purchase also included 10 acres of land. Jim Plyler of Piedmont/CORFAC and Xan Law of Investment Partners of Charlotte Ltd. represented the seller, Ellison Co. Inc., in the transaction. Plyler and Law also procured the buyer, TT of HY Pineville LLC.

March 18, 2015

New York Northeast Office

Ariel Property Advisors Arranges Two Sales Totaling $5.85M in New York

by Amy Works March 18, 2015

NEW YORK CITY AND MOUNT VERNON, N.Y. — Ariel Property Advisors has brokered the sales of two properties located in New York. In the first transaction, Post Graduate Center for Mental Health, a non-profit developer, acquired a development site at 130-134 East 177th St. in the Bronx’s Mount Hope section. The site, which offers 56,438 buildable square feet, sold for $2.5 million, or $45 per buildable square foot. Scot Hirschfield, Jason Gold, Victor Sozio and Marko Agbaba of Ariel Property Advisors represented the seller, a private investor, and the procured the buyer in the deal. In the second transaction, a two-story commercial building located at 6 N. Third Ave. in Mount Vernon sold for $3.35 million. The 20,000-square-foot elevator building features seven commercial units, six street-level units and a catering hall on the second floor. Hirschfield, Gold, Sozio and Agbaba represented the seller and procured the buyer, both private investors, in the transaction.

March 18, 2015

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