more_sales_and_leases

Bussel Realty Brokers $1.5M Acquisition of New Jersey Industrial Facility

by Amy Works November 7, 2014

KENILWORTH, N.J. — Bussel Realty Corp. (BRC) has arranged the sale of an industrial facility located at 25 Sidney Circle in Kenilworth. Scheininger Real Estate purchased the 17,200-square-foot property for $1.5 million from BPS Company. The property features 16-foot ceilings, one loading dock, one drive-in and 1,410 square feet of office space. The buyer purchased the facility for Flexline and plans to use it to manufacture specialty hose assemblies for the pharmaceutical, steel, food and aviation industries. Gregory Irving of BRC represented the buyer in the transaction.

November 7, 2014

Delaware Northeast Office

NAI Emory Hill Brokers 278,000 SF in Leases at White Clay Corporate Center

by Amy Works November 7, 2014

NEWARK, DEL. — NAI Emory Hill has brokered more than 278,000 square feet of office space leases at its White Clay Corporate Center in Newark. CitiGroup Technology renewed its lease for approximately 88,000 square feet of office space and JP Morgan Chase inked a deal for several spaces totaling 190,000 square feet to accommodate an expansion. Neil Kilian of NAI Emory Hill brokered the transactions, which total more than $11.6 million.

November 7, 2014

Massachusetts Northeast Office

MPM Capital Inc. Becomes First Tenant at 450 Kendall Street

by Amy Works November 7, 2014

CAMBRIDGE, MASS. — Transwestern | RBJ has brokered a lease between BioMed Realty Trust Inc. and MPM Capital Inc. at the recently completed 450 Kendall Street in Cambridge. MPM Capital, a venture capital firm focusing on the biomedical industry, will occupy 14,511 square feet at the building starting in April 2015. Steven Purpura and Eric Smith of Transwestern | RBJ represented the building owner, BioMed Realty, while John Barry and Jeff Landers, also of Transwestern | RBJ represented the tenant in the transaction. The 60,117-square-foot property is the first speculative office building to be constructed in Cambridge since 2001.

November 7, 2014

Illinois Midwest Retail

Impact Completes Construction of HomeGoods Store in Fairview Heights, Ill.

by Danielle Everson November 7, 2014

FAIRVIEW HEIGHTS, ILL. — IMPACT Strategies has completed construction of a HomeGoods store in Fairview Heights. The 24,000-square-foot store is located at U.S. Highway 159 across from St. Claire Square in the new Fairview City Centre. MCG Architecture of Cleveland designed the store. Since August 2013, IMPACT Strategies has built nearly 112,000-square-feet of new retail space as part of Fairview City Centre for retailers including Sports Authority, Petco, OfficeMax and Fresh Thyme Farmers Market. In phase I, IMPACT demolished the existing structure, which formerly housed a Kmart and other retailers. In spring 2014, IMPACT began phase II of construction, which included building Fresh Thyme and the space for the center’s fifth tenant, HomeGoods. Kimco Realty Corp. owns the shopping center.

November 7, 2014

Midwest Minnesota Retail

Waba Financial Acquires Polar Plaza Center in North St. Paul, Minn.

by Danielle Everson November 7, 2014

NORTH ST. PAUL, MINN. — Waba Financial has acquired the Polar Plaza retail center in North St. Paul from an undisclosed seller. The 23,362-square-foot shopping center is situated on nearly 3.4 acres and is leased to a variety of retail tenants, with 7,769 square feet available for lease. Anderson Property Management will manage the shopping center. Matthew Klein of Eagan, Minn.-based KW Commercial Midwest represented the buyer.

November 7, 2014

North Carolina Southeast

Argus, Percival Partners Broker $22M Sale of Self Storage Portfolio in the Carolinas

by John Nelson November 7, 2014

CHARLOTTE, N.C. — Charlotte-based Percival Partners LLC and Argus Self Storage Sales Network (ASSSN) have brokered the $22 million sale of a five-property self storage portfolio in North and South Carolina. The portfolio totals 2,400 units and 350,000 square feet, with three assets located in North Carolina and two in South Carolina. Extra Space Self Storage manages all five assets. A national self storage REIT purchased the portfolio in an off-market transaction utilizing an acquisition loan provided by an unnamed CMBS lender. Joey Godbold of Percival Partners and Ben Vestal of ASSSN represented the unnamed seller in the transaction.

November 7, 2014

Maryland Retail Southeast

Greysteel Arranges $2.5M Sale of The Shops at Federal Hill in Baltimore

by John Nelson November 7, 2014

BALTIMORE — The Greysteel Co. has brokered the $2.5 million sale of The Shops at Federal Hill, a 5,750-square-foot retail property located at 1100 Light St. in Baltimore’s historic Federal Hill neighborhood. The property is fully leased to Unleashed by Petco and Dunkin’ Donuts. Gil Neuman led the Greysteel’s Mid-Atlantic retail investment sales team in representing the seller, 28 Walker Development, as well as procuring the buyer, Federal Hill Shops LLC.

November 7, 2014

Arizona Retail Western

Dollar Tree to Open Four Stores in Arizona

by Nellie Day November 6, 2014

PHOENIX – Dollar Tree has opened four stores in Arizona. The locations include a 10,800-square-foot space now open at Chandler Festival in Chandler; a 10,204-square-foot space at Cotton Plaza in Surprise; an 8,625-square-foot space in Bell Camino Shopping Center in Sun City; and a 7,840-square-foot space located at the southwest corner of Guadalupe Road and Hawes Road in Mesa. Dollar Tree was represented by Kurt Kalocin of SRS.

November 6, 2014

Colorado Industrial Western

Denver Industrial Building Sells for $10M

by Nellie Day November 6, 2014

DENVER – A 189,210-square-foot industrial building in Denver has sold to Gladstone Commercial Corporation for $10 million. The building is located in an industrial park, near Downtown Denver. It has direct rail service and easy access to I-25, 1-270 and the Denver airport.

November 6, 2014

California Office Western

San Rafael Office Building Changes Hands

by Nellie Day November 6, 2014

SAN RAFAEL, CALIF. – Ellis Partners LLC has acquired a 130,237-square-foot office building in San Rafael for an undisclosed sum. The building is located at 4040 Civic Center Drive. The seller was an institutional investor. Cushman & Wakefield will handle the leasing of the property and CBRE will take on the property management assignment for the new ownership. This acquisition represents the fourth purchase by Ellis Partners with capital partner Artemis Real Estate Partners.

November 6, 2014

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