CUMMING, GA. — Avison Young has brokered the $15 million sale of Brannon Crossing, a 60,780-square-foot shopping center located at 405-435 Peachtree Parkway in Cumming, roughly 35 miles northeast of Atlanta. Brannon Crossing’s tenant roster includes Starbucks Coffee and T-Mobile. AJ Belt III, Brian Mark and David Duckworth of Avison Young represented the seller, Brannon Crossing LLC, in the transaction.
ATLANTA — SG Property Services has acquired an eight-building medical office portfolio known as the Oak Hill Medical Portfolio for $14.5 million. The properties are located in the Atlanta suburbs of Peachtree City, Blairsville and Newnan. Spanning 70,000 square feet, the eight properties are located at 10 Eastbrook Bend in Peachtree City; 1294 Highway 515 E. in Blairsville; 39 Oak Hill Court Buildings A-D in Newnan; and 60 and 110 Oak Hill Blvd. in Newnan. Lee Asher of CBRE represented the undisclosed sellers in the transaction.
MARLBOROUGH, MASS. — Spear Street Capital has completed the disposition of Marlborough Corporate Center, which is located at 377 Simarano Dr. in Marlborough. A private trust controlled by a principal of IPG Photonics purchased the office building for $25.55 million. Built in 1998, the 156,630-square-foot building features a cafeteria and is 30 minutes west of downtown Boston. IPG, a provider of high-power fiber lasers and fiber amplifiers, is a current tenant of the building. David Pergola and Brian Doherty of Cassidy Turley represented the seller in the transaction.
SAUGUS, MASS. — Marcus & Millichap has brokered the sale of a 24-hour CVS/pharmacy location in Saugus. The property sold for $11.34 million, or $879 per square foot. Built in 2008, the property is situated on 1.27 acres at 1075 Broadway St. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a national net-lease investor; Steven Siegel, also of Marcus & Millichap, represented the buyer. Jennifer Athas of Marcus & Millichap is the firm’s broker of record in Massachusetts.
SAN DIEGO – A 71,450-square-foot office building in the San Diego submarket of Mission Valley has sold to Shopoff Realty Investments for $11.1 million. The Class B-plus building is located at 2650 Camino Del Rio North. It is currently 75 percent leased. Notable tenants include Kaiser Foundation Health Plans and U.S. Colleges.
BOOTHWYN, PA. — KarMar Realty Group brokered the sale of an industrial building in Boothwyn. Neltson Edison LP purchased the 53,733-square-foot property from PX Properties LLC for $4.2 million. Located at 5 Chelsea Parkway, the building is occupied by Access Information Management and Priority Express Courier. KarMar Realty Group represented the buyer, while Jim McCahon of Jones Lang LaSalle represented the seller in the transaction.
DALLAS — Harwood International has arranged a new office lease in the Harwood district of Dallas. Collett is expanding its offices to the Rolex Building, occupying 4,000 square feet. Collett was established in 1987, employs 50 real estate professionals, manages six million square feet of commercial space in eight states and has developed more than 95 projects totaling 14 million square feet. The Rolex building, built in 1984, spans seven stories and 155,550 square feet.
SAN ANTONIO — Brian Gramlich of BMC Capital’s Dallas office has arranged a $1.1 million purchase loan for an apartment complex in San Antonio on behalf of an unnamed borrower. The loan was cross collateralized on two properties at a 65 percent loan-to-value ratio with a 4.9 percent rate and 30-year amortization schedule.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Park Row East, a 205-unit apartment complex located in Arlington. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, PPA Group of Austin. Silva also secured the buyer, a local limited liability company. Park Row is located at 3201 E. Park Row Drive, just east of U.S. Highway 360 and south of I-30. The property was built in 1972 and consists of 28 buildings. The new owner plans to make improvements to the property to make it more competitive in the rental market.
KANSAS CITY — Monmouth Real Estate Investment Corp. has acquired a new 158,417-square-foot industrial building in Kansas City for $9.6 million. The property is located at Skyport Industrial Park, 7503 N.W. 106th Terrace. The building is situated on 13 acres. The property is net-leased for seven years to Bunzl Distribution Midcentral Inc. The new built-to-suit, Class A industrial building is situated off of I-29 and is across from the Kansas City International Airport. The space is expandable to accommodate future growth.
