more_sales_and_leases

The Feil Organization Sells 340,000 SF Shopping Center to Wharton Realty Group

by Amy Works December 3, 2014

PHILADELPHIA — The Feil Organization, as managing partner of the partnership of Feil, Chera & Goldman, has completed the disposition of One & Olney Square, shopping center located in North Philadelphia. Wharton Realty Group purchased the ShopRite-anchored center for an undisclosed price. Situated on 26 acres at 5675 North Front St., the 340,000-square-foot center is 85 percent leased to national and regional tenants, including Modell’s, Conway and Ashley Stewart. The property was built in 1986 and acquired by the Feil partnership in 2002. James Galbally of JLL represented The Feil Organization, while Wharton Realty Group was represented in-house for the transaction.

December 3, 2014

Multifamily New York Northeast

Kalmon Dolgin Affiliates Negotiates $4.5M Sale of 8,000 SF Brooklyn Lot

by Amy Works December 3, 2014

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.

December 3, 2014

Mixed-Use New York Northeast

Marcus & Millichap Arranges $2.4M Sale of Brooklyn Mixed-Use Building

by Amy Works December 3, 2014

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.

December 3, 2014

Healthcare North Carolina Southeast

JLL Brokers Sale of Pharmaceutical Manufacturing Plant in Metro Charlotte

by John Nelson December 3, 2014

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.

December 3, 2014

Illinois Midwest Retail

Yoga Six Signs Retail Lease in Chicago

by Danielle Everson December 3, 2014

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.

December 3, 2014

Restaurant Retail Texas

Baker Katz Arranges Lease of Five Chipotle Locations in Texas

by Haisten Willis December 3, 2014

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.

December 3, 2014

Multifamily Texas

M&M Arranges Sale of Apartment Building in Fort Worth

by Haisten Willis December 3, 2014

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.

December 3, 2014

Multifamily Texas

Eastern Union Arranges $3.3M Loan for Apartment Complex in Tulsa

by Haisten Willis December 3, 2014

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.

December 3, 2014

California Multifamily Western

Alliance Residential Buys Lasselle Place in Moreno Valley for $45M

by Nellie Day December 3, 2014

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.

December 3, 2014

Industrial Nevada Western

Las Vegas Industrial Building Sells for $9.1M

by Nellie Day December 3, 2014

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.

December 3, 2014

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