more_sales_and_leases

Crosland Southeast, Childress Klein Sign Novant Health to Anchor South Charlotte Development

by John Nelson March 4, 2015

CHARLOTTE, N.C. — Charlotte-based Crosland Southeast and Childress Klein have inked a lease agreement with Novant Health to serve as the medical office anchor of Waverly, a master-planned, mixed-use development that will be located at Providence and Ardrey Kell roads in south Charlotte. Upon its completion in 2016, Waverly will feature a 40,000-square-foot Whole Foods, Novanta Pizzeria Napoletana, Bad Daddy’s Burger Bar, Menchie’s Frozen Yogurt, Modern Salon & Spa, Polished Nail Bar and Quail Dry Cleaners. Gwen Glaeser and Tommy Trimble of CNL Commercial Real Estate represented the developers in the lease transactions. Novant Health will occupy roughly 23,000 square feet of space in Waverly’s first 33,000-square-foot building, which is slated to open this fall. The medical office space will include an urgent care, family healthcare services and physical therapy. Mike Wiles of NAI Southern Real Estate represented Novant in the lease transaction, and the owners were represented internally by James Downs, partner of Crosland Southeast, and Paul DeVine of Childress Klein. Travis Hart of Childress Klein is working on pre-leasing the remaining medical office space.

March 4, 2015

Georgia Mixed-Use Southeast

Cannon Equities Sells Office, Retail Space in Metro Atlanta

by John Nelson March 4, 2015

CUMMING, GA. — Atlanta-based Cannon Equities has sold office and retail space at Vickery Village, a master-planned development located at 5755 S. Vickery St. in Cumming, a suburb of Atlanta. Cannon Equities sold a 57,064-square-foot retail building and a 5,200-square-foot office building in Vickery Village. Fred Victor of Transwestern represented Cannon Equities in the transaction. Evolution Real Estate Partners purchased Vickery Village for an undisclosed amount.

March 4, 2015

612 Hillsborough Chapel Hill North Carolina

Multifamily North Carolina Southeast

Eller Capital Acquires Colonial Arms Apartments in Chapel Hill for $3.6M

by John Nelson March 4, 2015

CHAPEL HILL, N.C. — Eller Capital Partners has acquired Colonial Arms Apartments located at 612 Hillsborough St. in Chapel Hill for $3.6 million. Eller Capital will rebrand the asset as 612 Hillsborough. The apartment community is within walking distance to the University of North Carolina at Chapel Hill campus and downtown Chapel Hill. 612 Hillsborough is Eller Capital’s fourth acquisition in the Chapel Hill area in the past 16 months, with the other three properties being The Apartments at Midtown 501, 86 North Apartments and Timber Hollow Apartments.

March 4, 2015

Northeast Pennsylvania Retail

CBRE Brokers $24.5M Sale of Lawndale Plaza in Philadelphia

by Amy Works March 4, 2015

PHILADELPHIA — CBRE has brokered the sale of Lawndale Plaza, a 93,282-square-foot retail center in Philadelphia. Highland Development Group and The Glenville Group sold the property for $24.5 million to Cedar Realty Trust. Developed in 1998, the property is anchored by a 63,342-square-foot ShopRite. Additional tenants at the 100 percent occupied property include Advance Auto Parts, T-Mobile and Dunkin’ Donuts. Brad Nathanson and Tom Gorman of CBRE represented both parties in the transaction.

March 4, 2015

Multifamily Northeast Pennsylvania

HFF Arranges $11.5M Sale of Multifamily Community in Metro Philadelphia

by Amy Works March 4, 2015

BENSALEM, PA. — HFF has brokered the sale of Crestwood Apartments, a 165-unit multifamily community in Bensalem. Situated on 5.14 acres at 3241 Hulmeville Road, the community features 15 three-story buildings offering a total of 65 one-, 95 two- and five three-bedroom units and 240 parking spaces for tenants and guests. Mark Thomson and Zac Pierce of HFF represented the seller, 3241 Associates LP, in the transaction.

March 4, 2015

Industrial New York Northeast

Marcus & Millichap Brokers $3.5M Sale of Industrial Building in Brooklyn

by Amy Works March 4, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an industrial building located at 190 Morgan Ave. in Brooklyn. The 14,875-square-foot property sold for $3.5 million. Jakub Nowak and James McGuckin of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a limited liability company, in the deal.

March 4, 2015

Industrial Northeast Pennsylvania

Roddy Inc. Arranges $2.5M Sale of 42,000 SF Industrial Property in Pennsylvania

by Amy Works March 4, 2015

BENSALEM, PA. — Bensalem-based Roddy Inc. has brokered the sale of an industrial building located at 1436 Wells Drive in Bensalem. Alexandria Ventures III LLC sold the property for $2.5 million to 1436 Wells Drive Associates LLC. The 42,000-square-foot building consists of three industrial condominium units featuring 19-foot ceiling heights and 1,798 square feet of office space. Universal Asset Recovery LLC, a wholesale supplier of used office equipment, occupies the facility. Robert Olender of Roddy Inc. represented the seller.

March 4, 2015

California Mixed-Use Western

Venice Beach Mixed-Use Building Sells for $11.5M

by Nellie Day March 4, 2015

LOS ANGELES – A joint venture between BLVD Partners LLC and Arris Investments has acquired a 25,000-square-foot, mixed-use building in the Los Angeles submarket of Venice Beach for $11.5 million. The two-story building is located on Lincoln Boulevard at Rose Avenue. It is divided between retail and office space, with a 30 percent occupancy rate at the time of closing. The creative office space will be marketed by Industry Partners. The acquisition also included an adjacent 55-stall surface parking lot. CBRE’s Jeff Pion represented both the buyer and seller, a private partnership, in this transaction. Acquisition financing was provided by Latitude Real Estate Investors. Sklar Kirsh attorney Andrew Kirsh also advised the JV on the purchase and acquisition financing.

March 4, 2015

California Office Western

Occupational Therapy Training Program Renews at Harbor Gateway Garden Office Park

by Nellie Day March 3, 2015

TORRANCE, CALIF. – Occupational Therapy Training Program (OTTP) has signed a five-year lease renewal at Harbor Gateway Garden Office Park in Torrance. The 94,112-square-foot, nine-building office property is located at 19401 S. Vermont. The lease is valued at $1.5 million. The non-profit agency that offers comprehensive life skills training, work readiness training, job placement and support services is a division of Special Service for Groups. OTTP was represented by Chris Runyen of Charles Dunn Company. The landlord, Harbor Gateway, LLC, was represented by Dwight Everest of Sunny Hills–Palladium.

March 3, 2015

Office Texas

SmartVault Corp. Expands to 7,412 SF in Houston

by Haisten Willis March 3, 2015

HOUSTON — Boxer Property has arranged a lease for SmartVault Corp., a provider of software as a service online document storage and secure file sharing solutions. SmartVault will occupy 7,412 square feet of office space at 720 N. Post Oak Road in Houston. Ashley Myers negotiated the lease on behalf of Boxer Property. The six-floor office building is located north of Uptown Park shopping center and is near the Marque Center and Metro Busline. The building offers a common area conference room, on-site deli with free WiFi, a parking garage and 24-hour key card access.

March 3, 2015

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