more_sales_and_leases

Angelic Real Estate Arranges Acquisition Loan for Three Office Buildings

by Amy Works November 18, 2014

PARSIPPANY, N.J. — Angelic Real Estate has secured $7.85 million in financing for the acquisition of three office buildings, 10 and 30 Lanidex and 299 Cherry Hill in Parsippany. A joint venture between Red River Asset Management and Lincoln Property Co. purchased the properties, which included excess land at 20 Lanidex that currently serves as additional parking. The joint venture immediately resold one of the buildings to an affiliate of Grammercy Property Trust. CorAmerica/Colony Capital provided the acquisition financing and loan. The portfolio was approximately 67 percent leased at the time of sale. Gabriel Silverstein and Louis D’Lando of Angelic Real Estate brokered the transaction.

November 18, 2014

Mixed-Use New York Northeast

Marcus & Millichap Arranges $1.2M Sale of Brooklyn Mixed-Use Building

by Amy Works November 18, 2014

NEW YORK CITY — Marcus & Millichap has brokered the sale of a mixed-use property located at 320 Van Brunt St. in Brooklyn. The 3,975-square-foot property sold for $1.2 million. Jakub Nowak and Matthew Rosenzweig of Marcus & Millichap’s Brooklyn office marketed the property on behalf of the seller, a private investor, and represented the buyer, a private investor, in the transaction.

November 18, 2014

Connecticut Northeast Retail

The Geenty Group Brokers Retail Lease in Connecticut

by Amy Works November 18, 2014

OLD SAYBROOK, CONN. — The Geenty Group, Realtors, has brokered a long-term lease at 137 Mill Rock Road in Old Saybrook. Located within The Old Saybrook Business Park, the 5,192-square-foot unit is occupied by Iron House Fitness LLC. Mill Rock Leasing LLC is the landlord. Kevin Geenty of The Geenty Group, Realtors, arranged the transaction.

November 18, 2014

Florida Restaurant Southeast

Marcus & Millichap Brokers $26.5M Sale-Leaseback of Wendy’s Portfolio in South Florida

by John Nelson November 18, 2014

MIAMI — Marcus & Millichap has brokered the $26.5 million sale-leaseback of 12 Wendy’s restaurants in South Florida. Adam Tiktin and Debra Franklin of Marcus & Millichap’s Miami office, along with Philip Rosen of Bloomgarden, Goudreau & Rosen PA, represented the seller, Starboard Group, in the transaction. Todd Cohen, Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the buyer, a Miami-based limited liability company. Farhan Kabani of Mark One Capital arranged a 10-year acquisition loan that amortizes over 30 years on behalf of the buyer. As part of the transaction, Starboard Group signed a new 20-year lease at the restaurants. The 12 Wendy’s restaurants are located at 831 Yamato Road in Boca Raton; 4950 Linton Road in Delray Beach; 15020 Jog Road in Delray Beach; 1197 S. Military Trail in Deerfield Beach; 10050 W. Sample Road in Coral Springs; 4676 N. University Drive in Coral Springs; 6375 W. Sample Road in Coral Springs; 9960 W. Oakland Park Blvd. in Sunrise; 14900 S.W. 31st St. in Miramar; 7560 N.W. 186th St. in Hialeah; 11925 N.W. 27th Place in Miami; and 1515 N.W. 7th St. in Miami.

November 18, 2014

Office Southeast Virginia

St. John Properties Buys Three Office/Flex Buildings in Virginia for $11.7M

by John Nelson November 18, 2014

STERLING, VA. — St. John Properties Inc. has acquired three office/flex buildings spanning 125,000 square feet for approximately $11.7 million. The properties are located at 21660, 21670 and 21680 Ridgetop Circle in the Loudoun Tech Center in Sterling, roughly eight miles northwest of Reston, Va. The properties were 36 percent leased at the time of sale. Steve Gichner and Eric Berkman of Cushman & Wakefield represented the undisclosed seller in the transaction. St. John Properties plans to make capital improvements to the properties to improve occupancy.

November 18, 2014

California Multifamily Western

Vista Ridge Apartment Homes in Sylmar Sells for $14.2M

by Nellie Day November 18, 2014

SYLMAR, CALIF. – The 81-unit Vista Ridge Apartment Homes in Sylmar has sold to a private owner/operator for $14.2 million. The community is located at 13500 Foothill Blvd. in the San Fernando Valley submarket. It was built in 1987. The seller, Benedict Canyon Equities, was represented by Ronald Harris, Rick Raymundo, Paul Darrow and Michael DiSimone of Marcus & Millichap’s Los Angeles office.

November 18, 2014

California Retail Western

7-Eleven Ground Lease in Oceanside Sells for $2.1M

by Nellie Day November 18, 2014

OCEANSIDE, CALIF. – A triple-net ground lease for a 7-Eleven at Oceanside Plaza has sold to a private investor from Northern California for $2.1 million. The space is located at 2003 Mission Ave. in Oceanside. The property is currently under construction. It will eventually include the 2,400-square-foot convenience store and a gas station. The property used to house a Union 76 gas station. The buyer was represented by Jay Patel of Cushman Wakefield. The seller, a private investor from Agoura Hills, was represented by Jonathan Selznick of Hanley Investment Group Real Estate Advisors.

November 18, 2014

Multifamily New York Northeast

GFI Realty Brokers $1.95M Sale of Apartment Building in Brooklyn

by Amy Works November 17, 2014

NEW YORK CITY — GFI Realty Services has brokered the sale of an apartment building located at 197 St. Marks Ave. in Brooklyn’s Prospect Heights. The asset sold for $1.95 million, or $325,000 per unit. Constructed in 1931, the three-story, walk-up building features six apartments. Shlomo Antebi of GFI Realty Services represented the buyer and seller, both of which are local investors, in the transaction.

November 17, 2014

Colorado Retail Western

The Shoppes on Academy in Colorado Springs Sells for $4.1M

by Nellie Day November 17, 2014

COLORADO SPRINGS, COLO. – The Shoppes on Academy, a 7,599-square-foot shopping center in Colorado Springs, has sold to an unnamed buyer for $4.1 million. The Class A center is located at 7252 North Academy Blvd. Notable tenants include Verizon, Floyd’s 99 Barber Shop and Five Guys Burgers and Fries. The seller was represented by Tom Ethington and Rob Edwards of Pinnacle Real Estate Advisors.

November 17, 2014

California Multifamily Western

North Park Apartment Complex Sells for $3.2M

by Nellie Day November 17, 2014

SAN DIEGO – An 18-unit apartment complex in the North Park submarket of San Diego has sold to the Bill Shepard MD Trust for $3.2 million. The complex is located at 3946-52 Idaho Street. It was built in 1970. The trust was represented by CBRE’s Eric Comer. The seller, LenRae LLC, was represented by Terry Taylor of ACI Apartments.

November 17, 2014

Newer Posts

Older Posts

Upcoming Events

Aug
18