more_sales_and_leases

Sitex Group Acquires New Jersey Sharp Plaza for $40M

by Amy Works January 19, 2015

MAHWAH, N.J. — Sitex Group has acquired Sharp Plaza, a mixed-use campus located in Mahwah, for $40 million. Situated on the New York state border at the intersection of Routes 17 and 287, the campus includes a three-story, 147,000-square-foot Class A office building, a 350,000-square-foot warehouse building and 23 acres of undeveloped land. The office building is currently leased to Sharp as its North American headquarters on a long-term basis. The warehouse, which is expandable by 200,000 square feet, currently has an 80,000-square-foot vacancy. The remainder of the warehouse is long-term leased to Sharp and Amazing Savings. Sitex Group plans to reposition the warehouse vacancy and market the vacant land for office or warehouse build-to-suit opportunities. McBride Real Estate represented Sitex Group in the acquisition.

January 19, 2015

New York Northeast Retail

Savanna Purchases 24,682 SF Retail Property in NYC’s Meatpacking District

by Amy Works January 19, 2015

NEW YORK CITY — Savanna has acquired a newly built retail property located at 461 West 14th St. in New York City’s Meatpacking District. Brandon Miller and Michael Miller of Real Estate Equities Corp. and Alfieri Development sold the 24,682-square-foot property, which is located under the High Line, for an undisclosed price. The property features 15-foot ceilings, all-glass storefronts and LED paneling atop the glass. Additionally, the floor plates can be configured into one or two large retail spaces or several smaller spaces, with 10,000 square feet on the corner of Tenth Avenue and 14th Street, and 6,000 square feet on the corner of Tenth Avenue and 15th Street. Savanna has engaged JLL to market the property. Neil Helman, Vincent Carrega, Jon Epstein and Charles Kingsley of Avison Young represented the seller, a single-purpose entity controlled by investor/developer Real Estate Equities Corp.

January 19, 2015

Multifamily New York Northeast

Alpha Realty Brokers Three Multifamily Sales Totaling $3.24M

by Amy Works January 19, 2015

NEW YORK CITY — Alpha Realty has brokered the sales of three multifamily properties located in Brooklyn and East New York totaling $3.24 million. In the first transaction, a multifamily investor purchased a three-story, nine-unit apartment building located at 200 28th St. in Brooklyn’s Greenwood Heights section. The 6,000-square-foot building sold for $1.4 million. In the second deal, an investor acquired a 642 Vermont St. in Brooklyn’s East New York area for $995,000. The three-story property features six apartments and one commercial unit. Additionally, 2162 Fulton St., located in Brooklyn, sold for $850,000. The property consists of four apartment units and one store. Lev Mavashev, Jacob Aronov and Adam Traub of Alpha Realty represented all parties in the off-market transactions.

January 19, 2015

California Office Western

Buchanan Street Buys Cornerstone Heights Corporate Center in San Diego

by Nellie Day January 16, 2015

SAN DIEGO — Buchanan Street Partners has acquired Cornerstone Heights Corporate Center, a 97,945-square-foot office property in the San Diego submarket of Sorrento Mesa, for $23.1 million. The two-building center is located at 5959 & 6059 Cornerstone West. The center is 91 percent leased to three tenants, including Konica Minolta, Verimatrix and Tillster. It was developed in 1987. Both buildings recently underwent significant renovations. The seller, a partnership between Lincoln Property Company and Artemis Real Estate Partners, was represented by DTZ’s Rick Reeder and Brad Tecca. The firm’s Brett Ward will lead the center’s leasing efforts.

January 16, 2015

Hospitality New York Northeast

Urgo Hotels & Resorts Buys Whiteface Lodge Resort in Lake Placid

by Amy Works January 16, 2015

LAKE PLACID, N.Y. — Bethesda, Md.-based Urgo Hotels & Resorts has acquired Whiteface Lodge Resort in Lake Placid for an undisclosed price. Located at Seven Whiteface Inn Lane in the Adirondacks, the resort offers 94 one- to four-bedroom suites, a private residence club, a 5,800-square-foot spa with six treatment rooms and a fully equipped fitness center. Additionally, the four-season resort features an indoor/outdoor swimming pool, ice skating rink, 54-seat movie theater, two bowling lanes, tennis courts, snowshoe/cross country trails and a private beach on Lake Placid with a canoe club providing boat rentals. The property also features a fine dining restaurant and 14 undeveloped acres, including lakefront property.

January 16, 2015

New Jersey Northeast Retail Texas

Simon Purchases The Mills at Jersey Gardens and University Park Village in Fort Worth

by Amy Works January 16, 2015

ELIZABETH, N.J., AND FORT WORTH, TEXAS — Simon has closed on its acquisition of two retail centers in New Jersey and Fort Worth, Texas, for an aggregate purchase price of $1.09 billion, including the assumption of existing mortgage debt. The two properties were acquired in connection with the closing of Washington Prime Group’s acquisition of Glimcher Realty Trust. Located in Elizabeth, Jersey Gardens, which has been renamed The Mills at Jersey Gardens, features a variety of tenants, including Bed, Bath & Beyond; Century 21; Coach Factory; Forever XX1; Lord & Taylor Outlet; Michael Kors; Neiman Marcus Last Call; Nike Factory Store; Saks Fifth Avenue Off 5th; and AMC Theatres. University Park Village in Fort Worth is tenanted by Ann Taylor, Anthropologie, Apple, Athleta, Banana Republic, Chico’s, Free People, J. Crew, Lululemon Athletica, Madewell, Michael Kors, Pottery Barn, Talbots, Vera Bradley, White House | Black Market, and Williams-Sonoma.

January 16, 2015

Industrial New Jersey Northeast

CenterPoint Properties Sells 35,038 SF Industrial Facility in New Jersey

by Amy Works January 16, 2015

CARLSTADT, N.J. — CenterPoint Properties has sold its facility at 30 Commerce Road in Carlstadt for an undisclosed price. Caudalie, a French skin care company, purchased the property, which is located on 1.44 acres and features two exterior loading docks, in an off-market transaction. The facility offers close proximity to New York and major highways, including Interstate 95, the New Jersey Turnpike and New Jersey Routes 46 and 80. Andrew Houston, Larry Casey and Robin Ritter-Ceriello of DTZ represented the seller in the deal.

January 16, 2015

Texas

Bright Realty Brokers Sale of Land in Metro Dallas

by Haisten Willis January 16, 2015

MURPHY, TEXAS — Bright Realty brokered the sale of 1.3 acres in Murphy located on FM 544 in Murphy. Shawn Hall of Bright Realty represented the buyer, Jain Estates LLC, in the transaction. Doug Carignan of Jones Lang LaSalle represented the seller.

January 16, 2015

Office Texas

Henry S. Miller Arranges Two Office Leases in Metro Dallas

by Haisten Willis January 16, 2015

DALLAS — Henry S. Miller Brokerage represented Ann Anderson and Stephen Leitzke of Farmers Insurance in the lease of two office locations in Frisco and north Dallas. Jim Breitenfeld of Henry S. Miller’s Dallas/Fort Worth office arranged the transactions. Ann Anderson leased a 150-square-foot office suite at 6500 Preston Road in the 6500 Business Center in Frisco. Stephen Leitzke leased a 1,319-square-foot office space at 17000 Preston Road, Building 3, Suite 330 in the East Preston Trails Office Park in Dallas. Mark Macy of MacyNewman Commercial Real Estate represented the landlord, Preston-Town Trails LP, in the 17000 Preston Road, Dallas transaction.

January 16, 2015

Multifamily Texas

Marcus & Millichap Arranges Sale of Apartment Building in Metro Dallas

by Haisten Willis January 16, 2015

EULESS, TEXAS — Marcus & Millichap has arranged the sale of Oakwood Crest Apartment Homes, a 96-unit apartment property located in Euless. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Barker and Alexander Skotarek, also of the firm’s Fort Worth office, represented the buyer, a private investor. Oakwood Crest Apartment Homes is located at 307 Martha St. The property features five, one-story buildings, one, two-story building and includes 96 units.

January 16, 2015

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