NEW YORK CITY — Kalmon Dolgin Affiliates has arranged the sale of an 8,000-square-foot lot at 180 Concord St. in Brooklyn’s Vinegar Hill section. Red Rock Resources sold the property to Greentown Equities for $4.5 million. The property consists of a 5,000-square-foot building and a 3,000-square-foot parking lot. Greentown Equities plans to develop two four-story residential buildings totaling 14 units, on the site. Robert Klein of Kalmon Dolgin represented both parties in the transaction.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 411 Graham Ave. in Brooklyn’s Williamsburg neighborhood. The 4,375-square-foot property sold for $2.4 million. Shaun Riley, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, also a private investor, in the transaction.
MONROE, N.C. — JLL has brokered the sale of Monroe Corporate Center, a 102,000-square-foot property located at 4275 Corporate Center Drive in Monroe, about 24 miles southeast of Charlotte. Glenmark Pharmaceuticals Ltd. purchased the facility for an undisclosed amount. The company plans to invest more than $15 million in the next five years to develop three separate pharmaceutical manufacturing units at the site. Glenmark expects to begin manufacturing oral solids at the location by mid-2015. John Buckley, Shawn Straka, John Cashion and Matt Treble of JLL represented Glenmark in the transaction. The seller, the city of Monroe, was represented in-house.
CHICAGO — Mid-America Real Estate Corp. has arranged a new retail lease on behalf of Yoga Six in the River North neighborhood of Chicago. Yoga Six signed a lease for 5,600 square feet at 9 W. Erie St. The studio is a new construction project expected to open in early 2016. Paul Bryant and Michael Wexler of Mid-America represented the tenant in the transaction. New York-based Jenel Management Corp. is the landlord.
HOUSTON, CORPUS CHRISTI, CYPRESS, HUNTSVILLE & SPRING, TEXAS — Baker Katz has arranged the lease of five Chipotle locations in Texas. The restaurants range in size from 2,000 to 3,000 square feet. The Chipotle restaurants are located in Corpus Christi, Houston, Cypress, Huntsville and Spring.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of University Village Apartments, a 15-unit apartment property in Fort Worth. Trey McGhin of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual/personal trust. A Fort Worth-based limited liability company purchased the property in a 1031 tax-deferred exchange. Mason Green of the firm’s Fort Worth office represented the buyer. University Village Apartments is located at 3123-3125 S. University Drive and is within walking distance of Texas Christian University. The property was built in 1959 and sits on .3 acres. It spans 8,800 square feet with an average unit size of 586 square feet.
TULSA, OKLA. — Eastern Union Funding has arranged a $3.3 million acquisition loan for financing of The Landing, an apartment complex located at 9743 E. 12th St. in Tulsa .The complex includes 16 two-story buildings totaling 126 units. Built in 1973, the property includes a mix of one- and two-bedroom units ranging in size from 700 to 1,000 square feet. Motti Blau of Eastern Union Funding arranged financing through Arbor Commercial Mortgages. The transaction is a non-recourse, 10-year loan with 4.5 percent interest.
MORENO VALLEY, CALIF. — Alliance Residential has acquired the 304-unit Lasselle Place apartment complex for $45 million. The garden-style community is located at 15700 Lasselle Street in the Rancho Belago submarket. Lasselle Place was built in 2005. It is situated near Meridian Business Park, World Logistic Center and March Air Force Base Redevelopment. Common-area amenities include a fitness center, business center, and community lounge that opens to a central pool and spa. The seller, a large, Los Angeles-based institutional investor, was represented by Dean Zander, Vince Norris, Margie Molloy and Spencer Scott of Berkadia. The team notes Alliance was one of the first developers to build Class A apartment communities in Moreno Valley during the past development cycle.
LAS VEGAS – A 147,903-square-foot industrial property in Las Vegas has sold to BKM Capital Partners LP for $9.1 million. The property is located at 4301 & 4325 S. Valley View Blvd. BKM plans to reposition the property. The seller, Terra Grandis LLC and the Tiberti Company, was represented by Voit’s Kevin J. Higgins, Garrett Toft and Zac Zaher.
FORESTVILLE, MD. — Federal Capital Partners has acquired Regency Square, a 366-unit apartment community in Forestville, for $21.8 million in an off-market transaction. Federal Capital will invest roughly $8 million of upgrades to Regency Square’s common areas and building systems after closing. The property is Federal Capital’s ninth apartment community acquisition in 2014. Federal Capital has retained Gates Hudson to manage the property. Robin Williams, Dean Sigmon and Justin Shay of Transwestern represented the undisclosed seller in the transaction. Capital One Bank provided acquisition and renovation financing on behalf of Federal Capital.