more_sales_and_leases

MHA Brokers Sale of Two Apartment Communities in Virginia Totaling $11.2M

by John Nelson March 13, 2015

RICHMOND AND SALEM, VA. — Multi Housing Advisors (MHA) has brokered the sale of two Virginia Apartment communities in two separate transactions. The properties include the 120-unit Laurel Pines in Richmond and the 132-unit Northview in Salem. Monument Real Estate Services acquired Laurel Pines from an undisclosed seller for $6.6 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller in the transaction. Additionally, Yorkshire Holdings LLC purchased Northview from Northview Associates for $4.6 million. Robinson, McCarley and Bryant also represented the seller in the transaction. The MHA team was the sole brokerage firm in both transactions.

March 13, 2015

Georgia Retail Southeast

Marcus & Millichap Brokers $6.4M Sale of Mixed-Use Retail in Atlanta

by John Nelson March 13, 2015

ATLANTA — Marcus & Millichap has brokered the $6.4 million sale of the retail component of Windsor Glenridge Springs, a mixed-use development located at 5610 Glenridge Drive in Atlanta. The retail component totals roughly 20,000 square feet and is leased to tenants such as Sushi Nami, Blue Moon Pizza and Firehouse Subs. Built in 2011, Windsor Glenridge Springs also includes 168 luxury apartment residences, which were not part of the transaction. Craig Johnson and Tim Giambrone of Marcus & Millichap’s Atlanta office represented the buyer, an unnamed investment firm based in California.

March 13, 2015

Industrial Office Texas

NAI Partners Arranges 20,000 SF Office/Warehouse Facility Sale in Houston

by Haisten Willis March 12, 2015

HOUSTON — NAI Partners has arranged the sale of a 20,000-square-foot office/warehouse facility located at 13715 N. Promenade Blvd. in Houston. Chris Kugle of NAI Partners represented the seller, E & F Anaya Enterprises. Forbes Henderson of Delta Realty Inc. represented the buyer, Brance-Krachy Co. Inc.

March 12, 2015

Multifamily Texas

Marcus & Millichap Arranges Sale of 72-Unit Apartment Building in East Texas

by Haisten Willis March 12, 2015

NACOGDOCHES, TEXAS — Marcus & Millichap has arranged the sale of Woodland Trails, a 72-unit apartment property located in Nacogdoches. Scott Ogilvie and Robert Denninger of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Ogilvie and Denninger also procured the buyer, a limited liability company. Woodland Trails is located at 1410 Martinsville St. less than one mile southeast of Stephen F. Austin State University. Built in 1984, the Class B apartment community is situated on five acres. Woodland Trails consists of seven three-story buildings with 72 two-bedroom/two-bath units, all of which span 900 square feet. The asset is within walking distance to numerous retail businesses and restaurants such as Belk, Payless, Bath & Body Works, JCPenney, Subway, Dollar General, Aaron’s, Arby’s, CVS, Popeye’s, and Brookshire Brothers.

March 12, 2015

The Executive Building 607 William St. Fredericksburg

Office Southeast Virginia

Wack Cos. Buys Office Building in Fredericksburg for $35M Redevelopment Project

by John Nelson March 12, 2015

FREDERICKSBURG, VA. — Wack Cos. has purchased The Executive Building, a 10,000-square-foot office building located at 607 William St. in downtown Fredericksburg, for $2.8 million. Wack Cos. plans to convert the site into a mixed-use development featuring single-level condos, retail space and restaurants. The company plans to break ground on the $35 million project in the fall. Heather Hagerman of Coldwell Banker Commercial represented Thomas Wack of Wack Cos. in the transaction. Mike Degen and Jamie Scully of Cushman & Wakefield | Thalhimer represented the seller, Sandton Capital, formerly known as the Free Lance-Star Cos. Hagerman, Ben Keddie and Joe Pfahler of Coldwell Banker Commercial and Coldwell Banker Elite will manage the sales and leasing of the commercial and retail portions. Hagerman, Kevin Breen Jr. and Conor Breen of Coldwell Banker will manage the sales and marketing of the residences.

March 12, 2015

5900 Lake Ellenor Drive in Orlando Central Park

Florida Office Southeast

CBRE Brokers $5.8M Sale of Office Property in Orlando

by John Nelson March 12, 2015

ORLANDO, FLA. — CBRE has brokered the sale of a 133,075-square-foot office property located at 5900 Lake Ellenor Drive in Orlando Central Park, an office park in south Orlando. Cardinal Point Management acquired the eight-story building from D Group Acquisition Three Inc. for $5.8 million. The purchase also included an adjoining outparcel at 1854 W. Oak Ridge Road. Ronald Rogg and Chip Wooten of CBRE represented the seller in the transaction.

March 12, 2015

Florida Southeast

Marcus & Millichap Brokers Sale of Self Storage Facility in Florida

by John Nelson March 12, 2015

SEBASTIAN, FLA. — Marcus & Millichap has brokered the sale of US 1 Self Storage, a 55,168-square-foot self storage facility located at 9893 N. US Highway in Sebastian. The property features 29 climate-controlled units, 483 non climate-controlled units, two retail spaces and 16 parking spaces. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented the undisclosed buyer and seller in the transaction.

March 12, 2015

Massachusetts Northeast Office

Hertz Investment Group Buys 218,625 SF Office Building in Massachusetts

by Amy Works March 12, 2015

WORCESTER, MASS. — Hertz Investment Group has acquired Chestnut Place, a two-building office complex located in Worcester’s central business district. The 218,625-square-foot asset, including One Chestnut Place and Two Chestnut Place, sold for $14 million. Constructed in 1990, the 183,781-square-foot One Chestnut Place is currently 98 percent leased to tenants, including Fallon Community Health, UBS Financial Services and Sullivan Group Insurance. Two Chestnut Place, which was built in the 1800s, features 38,844 square feet of Class B office space. Two levels of underground parking and an outdoor plaza connect the two buildings.

March 12, 2015

New Jersey Northeast Office

Langan Engineering Leases 71,500 SF at 300 Kimball Drive in New Jersey

by Amy Works March 12, 2015

PARSIPPANY, N.J. — Transwestern has brokered a 71,500-square-foot lease for Langan Engineering at the newly redeveloped 300 Kimball Drive in Parsippany. Additionally, Transwestern will oversee construction management services, on behalf of the landlord, for the fit-out of Langan’s space. 300 Kimball Drive recently underwent an extensive capital improvement program that transformed the single-tenant building into a multi-tenant office facility. Designed by Gensler, the redeveloped building features stainless steel pillars, polished Italian marble flooring, Shaw carpet tiles and wood wall coverings. Additionally, the renovation included upgrading the lobby, bistro and adding a fitness center with cardio and weight machines, free weights, yoga space and flat-screen televisions. Terms of the lease were not disclosed.

March 12, 2015

Industrial New Jersey Northeast

DTZ Brokers 63,500 SF Industrial Lease in Hamilton, N.J.

by Amy Works March 12, 2015

HAMILTON, N.J. — DTZ has brokered a 63,500-square-foot lease for industrial space within the Hamilton Business Center at 8 Marlen Dr. in Hamilton. Global Essence, a provider of high-quality natural ingredients for fragrance, flavoring, beauty and household products, plans to use the space as corporate headquarters and an operations facility. Robin Ritter-Ceriello and Larry Casey of DTZ represented the tenant, while Steve Tolkach and Dov Sortzkin of Newmark Grubb Knight Frank represented the landlord, Hamilton Business Center, in the transaction.

March 12, 2015

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