more_sales_and_leases

Marcus & Millichap Arranges Sale of Net-Leased Retail Property in Connecticut

by Amy Works November 4, 2014

EAST HARTFORD, CONN. — Marcus & Millichap has brokered the sale of a net-leased retail property located at 18 Main St. in East Hartford. Built in 2008, the property, which is occupied by a Wells Fargo bank branch, sold for $4.63 million at a 4.75 percent cap rate. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a Connecticut-based developer. Steven Siegel of Marcus & Millichap represented the buyer, a New York City private investor in a 1031 exchange, in the transaction.

November 4, 2014

Industrial New Jersey Northeast

NAI Hanson Brokers 33,000 SF New Jersey Warehouse Building Lease

by Amy Works November 4, 2014

CARLSTADT, N.J. — NAI Hanson represented landlord, Amor SGE LLC, in the lease of 33,000 square feet at its industrial building in Carlstadt. M4U Inc. will use the space, located at 50 Armor Ave., to expand its operations. The warehouse space features four loading docks, two drive-ins, 1,200 amps of power and ample parking. Jeff DeMagistris and Tom Vetter of NAI Hanson represented the owner in the transaction.

November 4, 2014

Nevada Office Western

Las Vegas Office Portfolio Changes Hands

by Nellie Day November 4, 2014

LAS VEGAS – A five-property office and warehouse portfolio in Las Vegas has sold to McLeod 5 LLC for an undisclosed sum. The transaction includes three multi-tenant office buildings and two multi-tenant office/warehouse buildings. The buildings are located at 6275, 6285, 6325, 6340 and 6360 McLeod Drive. The LLC was represented by Tony Castrignano of Remax Commercial Sky Mesa. The unnamed seller was represented by CBRE’s Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski.

November 4, 2014

California Multifamily Western

San Francisco Apartment Building Sells for $3.1M

by Nellie Day November 4, 2014

SAN FRANCISCO – A five-unit apartment building in San Francisco has sold to an unnamed buyer for $3.1 million. The community is located at 59 Collingwood Street. The seller, a private investor, was represented by Joseph Levy and Mark Mason of Marcus & Millichap’s San Francisco office.

November 4, 2014

California Office Western

Ergobaby Leases Space in Los Angeles

by Nellie Day November 4, 2014

LOS ANGELES – Ergobaby has leased 16,378 square feet of office space in Downtown Los Angeles. The space is located at 617 West 7th Street. The consumer baby products company will occupy an entire floor. The company will be relocating from its existing headquarters at nearby 888 Figueroa early next year. Ergobaby was represented by Andrew Lustgarten and Sonya Schmidt of Studley. The landlord, The Swig Company, was represented by CBRE’s John Zanetos, Chris Penrose and Mark O’Brien.

November 4, 2014

Midwest Mixed-Use Ohio Retail

Edge Real Estate Group Arranges Two Retail Leases at Oakley Station in Cincinnati

by Danielle Everson November 4, 2014

CINCINNATI — Edge Real Estate Group has arranged two retail leases at Oakley Station in Cincinnati. Bar Louie has signed a lease for 6,300 square feet of space and Pet Supplies Plus has signed a lease for 9,750 square feet of space. Bar Louie will be located on Vandercar Way at Factory Colony Way, and Pet Supplies Plus will be located adjacent to Kroger Marketplace. Michael Halonen and Melissa Ruther of Edge represented the landlord, USS Realty, in both lease transactions. Oakley Station is a 74-acre, mixed-use development. Cincinnati Milacron, a manufacturing complex, formerly occupied the center.

November 4, 2014

Mississippi Retail Southeast

UCR Investments Buys Shopping Center in Mississippi

by John Nelson November 4, 2014

VICKSBURG, MISS. — UCR Investments has purchased Pemberton Plaza, a 27,000-square-foot shopping center in Vicksburg, roughly 45 miles west of Jackson. Pemberton Plaza’s tenant roster includes T.J. Maxx, Newks Eatery, Bestway Rent to Own and Anytime Fitness. The shopping center was 94 percent leased at the time of sale. UCR Investments purchased the asset from CBL & Associates Properties Inc. for an undisclosed amount. Micah McCullough and Brett Bailey of Jackson-based UCR Properties, an affiliate of UCR Investments, represented the buyer in the transaction. Jim Morris of CBRE’s Nashville office represented the seller.

November 4, 2014

Multifamily Texas

Capital One Provides $19.5M Loan for Apartment Complex in Austin

by Haisten Willis November 3, 2014

AUSTIN — Capital One Multifamily Finance has provided a $19.5 million Fannie Mae fixed loan for the acquisition of City Point, a 396-unit apartment complex in Austin. Firmus Equity Partners was the borrower. Adam Bieber with Capital One’s Bethesda, Maryland office originated the transaction. The property was built in 1983 and is located near the intersection of I-35 and U.S. Highway 290. The borrower plans to complete interior renovations. The seven-year loan features two years of interest-only payments and a 30-year amortization schedule.

November 3, 2014

Retail Texas

M&M Arranges Sale of Net Leased Property in Metro Houston

by Haisten Willis November 3, 2014

CYPRESS, TEXAS — Marcus & Millichap has arranged the sale of Northlake Forest Shopping Center, a 20,340-square-foot retail property in Cypress. Watt Harrison and James H. Bell of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership. Bell and Harrison also secured the buyer, a private investor. Northlake Forest Shopping Center is located at 15210 Spring Cypress Road.

November 3, 2014

Multifamily Texas

Performance Properties Acquires Apartment Complex in Dallas

by Haisten Willis November 3, 2014

DALLAS — Performance Properties LLC has acquired the 370-unit Linda Vista Apartments in Dallas. The company plans to spend $1.3 million on renovations at the complex. The apartments are located at 13450 Manham Road and were 98 percent leased at the time of sale. Linda Vista consists of 18 buildings and was built in 1980. Units average 667 square feet with a mix of one- and two-bedroom layouts.

November 3, 2014

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