SPRINGFIELD, N.J. — CBRE FAMECO, a retail division of CBRE Group, has brokered the $5.5 million sale of the former 6th Avenue Electronics store, corporate office and warehouse facility at 22 Route 22 in Springfield. The undisclosed buyer plans to convert the 70,040-square-foot property into an 85,000-square-foot Metro Self Storage facility. The climate-controlled property will feature state-of-the-art security, two sets of elevators, four drive-in loading bays and an office component. Steven Winters of CBRE FAMECO represented the undisclosed seller, while Ed Horne of HK Commercial Realty Advisors LLC represented the buyer.
SALISBURY, MASS. — Marcus & Millichap has brokered the sale of a retail property located at Two Lafayette Road in Salisbury. SPC Acquisition Company LLC purchased the 13,225-square-foot building for $7.4 million from Salisbury Ventures LLC. The property is occupied by CVS, under a 25-year lease with four five-year extension options. Bob Horvath and Todd Tremblay of Marcus & Millichap represented the seller, while Laurie Ann Drinkwater and Seth Richard, also of Marcus & Millichap, represented the buyer in the transaction.
LUBBOCK, TEXAS — Marcus & Millichap has arranged the sale of AAA-Tech Self Storage, a self-storage facility with 56,806 rentable square feet located in Lubbock. Roger Hendricks of Marcus & Millichap’s Dallas office represented the buyer, a private investor. An outside broker represented the seller. AAA-Tech Self Storage is located at 222 N. Ave. U, at the southeast corner of Baylor Street. Built in 1968 and renovated in 2002, the facility is situated on nearly five acres and includes 499 units. The property includes a sales office, manager’s apartment, indoor and outdoor units and roll-up doors.
AUSTIN, TEXAS — Trulan Property Advisors has brokered the sale of a 35,000-square-foot building located at 7944 Great Northern Boulevard in Austin. The property is on a long-term lease to the Magellan International School and sits on more than two acres. Jason Middlebrook with Trulan Property Advisors represented the buyer, Austin-based Long View Equity Partners.
BEE CAVE, TEXAS — Rocco’s Grill is relocating to 12432 Bee Cave Road from its original Lakeway Commons Shopping Center location. The new location spans 6,334 square feet and features two outdoor dining and entertainment areas, including a covered patio and an outdoor deck. The property is adjacent to the Hill Country Galleria, will have larger seating capacity, more parking and is estimated to open in late April. Rocco’s Grill, founded by Rocco C. “Rockey” Piazza 13 years ago in Lakeway, serves Italian recipes including pasta, seafood and steaks. Bryan McMurrey of CBRE represented the landlord, Hill Country Galleria LLC, in the transaction. Currin Van Eman of VC Interests LLC represented Rocco’s Grill.
FISHERS, IND. — Brixx Wood Fired Pizza has opened as the anchor tenant of The Depot at Nickel Plate, a mixed-use development in Fishers. Brixx occupies the 3,824 square feet of retail space, with an additional outdoor dining patio, on the southeast corner of Municipal Drive and 116th Street. Brixx serves wood-fired pizzas cooked in brick ovens, salads, pastas and sandwiches, and offers 24 local and national craft beers on tap and 14 wines by the glass. The Depot at Nickel Plate features 242 units and 17,000 square feet of retail space. First units became available in December, with construction to be completed in April. The Depot also includes approximately 430 structured parking spaces.
NEW YORK CITY — Citicore has brokered the sale of a development site located at 207 West 75th St. between Amsterdam and Broadway in the Upper West Side. Howard Neu purchased the 14,750-square-foot site for $13.3 million from Felipe Coello. The site features a 5,000-square-foot property, with a 2,500-square-foot basement. Beach Bum Tanning leases ground-floor space at the building on a month-to-month basis, while the second floor is currently vacant. Timour Shafran and Benjamin Shafran of Citicore brokered the transaction.
TAMPA, FLA. — CBRE Capital Markets has brokered the $85.1 million sale of Camden Bayside Apartments, an 832-unit waterfront rental community in Tampa. Cortland Partners purchased the asset, located at 6301 S. Westshore Blvd., from Houston-based Camden Property Trust, a multifamily REIT. Camden Bayside’s amenities include two car care centers, two resort-style swimming pools, a fitness center, conference room, business center with Wi-Fi, bayside gazebos, dog park, tennis courts and boat storage areas. John Selby and Sean Williams of CBRE Capital Markets represented Camden Property Trust in the transaction.
VANCOUVER — Pure Industrial Real Estate Trust (PIRET), an industrial REIT based in Vancouver, has purchased a 51 percent interest in the $57 million acquisition of three industrial assets in North Carolina. The three bulk distribution/warehouse facilities are located in the Greensboro/Winston-Salem markets and total roughly 1.3 million square feet. The assets are 100 percent leased to three tenants. The properties are located at 6104 and 6105 Corporate Park Drive in Greensborough and 3928 Westpoint Blvd. in Winston-Salem. The acquisition was funded with a $29 million bridge loan facility and $14.1 million that PIRET provided from existing working capital for its share of the balance of the purchase price. After completing the acquisition, PIRET’s portfolio of assets under management will total 177 properties spanning 17.5 million square feet.
ANNAPOLIS JUNCTION, MD. — Terreno Realty Corp. has purchased a 115,000-square-foot distribution center in Annapolis Junction for approximately $10.4 million. The industrial property is located at 9070 Junction Drive approximately three miles from Fort Meade in the central Baltimore/Washington corridor. The property consists of 25 dock-high loading bays and five grade-level loading positions. The building is currently 38 percent leased to two tenants.