more_sales_and_leases

Marcus & Millichap Brokers $2M Sale of West Harlem Apartment Building

by Amy Works November 19, 2014

NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 533 W. 142nd St. in New York City’s West Harlem neighborhood. The seven-unit building sold for $2 million. The property has been completely renovated to turnkey condition and is now 100 percent free market. Peter Von Der Ahe, Scott Edelstein, Matthew Fotis and Seth Glasser of Marcus & Millichap’s Manhattan office represented the seller, a private investor, and the buyer, a private investor, in the transaction.

November 19, 2014

Civic New Jersey Northeast

CBRE Group Brokers $1.24M Sale of New Jersey Church Facility

by Amy Works November 19, 2014

PLAINFIELD, N.J. — CBRE Group has brokered the sale of 1020 West Seventh St. in Plainfield. The 14,632-square-foot church facility sold for $1.24 million. The new owner plans to occupy the church, which includes a fellowship hall, kitchen, offices and classrooms. Charles Berger and Elli Klapper of CBRE Tri-State Investment Properties represented the seller in the transaction. Both the seller and buyer were not disclosed.

November 19, 2014

Industrial New Jersey Northeast

Bussel Realty Corp. Arranges 225,000 SF Industrial Lease in New Jersey

by Amy Works November 19, 2014

SOUTH BRUNSWICK, N.J. — Bussel Realty Corp. (BRC) has arranged the lease of 225,000 square feet of industrial space at 15 Thatcher Road in South Brunswick. Leo Esses of BRC represented the tenant and landlord, which were both undisclosed, in the transaction. The property features 30-foot ceiling heights, 36 trailer docks and one drive-in door for loading, ESFR sprinklers, 2,500 amps of electric power and more than 100 trailer and car parking spaces.

November 19, 2014

Hospitality Western

Strategic Hotels Buys Four Seasons Resort Scottsdale at Troon North for $140M

by Nellie Day November 19, 2014

SCOTTSDALE, ARIZ. — Strategic Hotels & Resorts has purchased the 210-room Four Seasons Resort Scottsdale at Troon North for $140 million. The AAA Five Diamond resort is located at 10600 E. Crescent Moon Drive. The transaction includes 13.8 acres of developable land that is zoned for an additional 88 rooms, among other things. The hotel features 22 suites, 24,000 square feet of indoor meeting space, a 14-treatment room spa, four food and beverage outlets and contractual access to 36 holes of championship golf at the adjacent Troon North Golf Club. Four Seasons will continue to manage the property. The seller was an affiliate of Walton Street Capital.

November 19, 2014

Retail Southeast Tennessee

Landmark Brokers $22.8M Sale of Shopping Center in Tennessee

by John Nelson November 19, 2014

HIXSON, TENN. — Landmark Commercial Real Estate Services Inc.’s investment sales group has brokered the $22.8 million sale of Oak Park Town Center, a 178,384-square-foot shopping center in Hixson. The property’s tenant roster includes Marshalls, Gander Mountain, Burke’s, Office Depot, Petco and Shoe Carnival. A Walmart Supercenter shadow anchors the property. Kevin Baker and Daniel Kukes of Landmark Commercial Real Estate Services represented the buyer, a non-traded REIT, and the seller, a private developer based locally.

November 19, 2014

Georgia Retail Southeast

Crossman & Co. Brokers $8.8M Sale of Publix-Anchored Center

by John Nelson November 19, 2014

HOSCHTON, GA. — Crossman & Co. has brokered the $8.8 million sale of West Jackson Crossing, a Publix-anchored shopping center in Hoschton. The 68,649-square-foot center’s tenant roster includes Verizon Wireless, Pizza Hut and Great Clips. John Zielinski and Mark Thompson of Crossman & Co. represented the undisclosed seller in the transaction.

November 19, 2014

California Office Western

Kilroy Buys Sunnyvale Office Property for $98M

by Nellie Day November 19, 2014

SUNNYVALE, CALIF. — Kilroy Realty Corporation has acquired a 261,000-square-foot office property in Sunnyvale for $98 million. The four-building complex is located in the Moffett Park district. Kilroy has been extremely active in the Silicon Valley and San Francisco Bay Area regions, as of late. The office development specialist recently leased a 587,000-square-foot, three-building Sunnyvale campus to LinkedIn. It is also building a 340,000-square-foot space in San Francisco’s South of Market (SOMA) district that has been leased to Salesforce. Divco, the Moffett Park seller, was represented by Dan Ball of Gibson Dunn. Kilroy was represented by Pete Roth of Allen Matkins in this transaction.

November 19, 2014

Office Texas

Hudson Peters Arranges Office Lease in Dallas

by Danielle Everson November 18, 2014

DALLAS — Hudson Peters Commercial has arranged a 51,400-square-foot lease at the Pyramids Office Tower for Shackelford, McKinley, Melton & Norton LLP, a Dallas law firm. The property is located at 9201 N. Central Expressway and is part of the Pyramids at Park Lane complex. Healthcare Realty Trust Inc. owns the complex. Cincha Kostman and Sanober Syed of Hudson Peters represented the landlord. The Amend Group represented the tenant.

November 18, 2014

Multifamily Texas

M&M Arranges Sale of 59-Unit Apartment Building in Metro Dallas

by Danielle Everson November 18, 2014

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of Kent Apartments, a 59-unit apartment complex located in Garland. Robert Denninger of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Denninger also procured the buyer, an individual/personal trust. Kent Apartments is located at 3810 W. Walnut St., less than three miles north of I-635. The complex features 18 one-bedroom units and 31 two-bedroom units. Floor plans range in size from 625 to 825 square feet. The complex is pet friendly and includes a gated playground for children.

November 18, 2014

Industrial New Jersey Northeast

Cushman & Wakefield Arranges Sale of Two New Jersey Industrial Properties

by Amy Works November 18, 2014

NORTH BRUNSWICK AND NEW BRUNSWICK, N.J. — Cushman & Wakefield’s Metropolitan Area Capital Markets Group arranged the sale of two industrial facilities located in North Brunswick and New Brunswick for an undisclosed price. Principal Real Estate Investors purchased the two properties, which total 458,000 square feet. The 156,000-square-foot building at 1000 Corporate Road is occupied by Capacity LLC, an e-commerce warehouse and fulfillment center, and Wenner Bread Products occupies the 302,000-square-foot property at 571 Jersey Ave. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer and Kyle Schmidt of Cushman & Wakefield brokered the transaction.

November 18, 2014

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