NEW HAVEN, MICH. — L. Mason Capitani CORFAC International has arranged the lease of a 12,133-square-foot office building in New Haven. Cargill will occupy the space within a larger office & hi‐tech facility located at 31029 Comcast Drive. Cargill provides food, agriculture, financial and industrial products and services. The company employs more than 145,000 people in 67 countries. Jason Capitani and Joe DePonio of L. Mason Capitani represented the landlord in the transaction.
LITHIA SPRINGS, GA. — PointOne Holdings has acquired Madison at Waterford Apartments, a 344-unit, Class B apartment community in Lithia Springs, for $18.7 million. PointOne Holdings will rebrand the community as Waterford Point. The apartment complex was 93 percent leased at the time of sale. The property’s amenity offerings include two swimming pools, two tennis courts, a fitness center, indoor racquetball court, car care center, detached garages, picnic areas and a walking trail. The apartment residences average 905 square feet. Walker & Dunlop arranged a $14.7 million acquisition loan through Freddie Mac on behalf of PointOne Holdings, which also plans to invest $2.4 million in capital improvements.
NEW YORK CITY — HFF has arranged the sale of a development site located at 11-55 49th Ave. in Long Island City. Criterion Group purchased the site for an undisclosed price. Currently a 26,415-square-foot vacant parking lot, the site is zoned for 132,074 square feet of residential or commercial development. Andrew Scandalios, Jeff Julien, Rob Hinckley and David Fowler of HFF represented the seller and procured the buyer in the transaction.
UNION, N.J. — Bussel Realty Corp. has brokered the sale of 600 Green Lane, a 91,000-square-foot distribution and headquarters facility in Union. Millstein Acquisitions and D’Artagnan purchased the property for $6.6 million. Situated on 5.9 acres the property features 13,000 square feet of modern offices, 26- to 28-foot ceiling heights, 17 loading docks and 163 parking spaces. The property most recently underwent renovations in 2005. Robert Sagar and David Blitt of Bussel Realty represented the seller, while Blau & Berg represented the purchaser in the transaction.
STATEN ISLAND, N.Y. — Sovereign Realty Group has completed the sale of a freestanding bank building on Staten Island. Train City Ltd. sold the asset sold for $3.5 million or $1,105 per square foot to a private investor from New York City. Located at 386 Forest Ave., the 3,165-square-foot building is occupied by Capital One. Frank Caporrino and Clem Cote of Sovereign Realty Group brokered the transaction.
MIAMI — FA Commercial has brokered the $10 million sale of a 52,499-square-foot office building located at 3415 N.E. 2nd Ave. near Miami’s Midtown and Design District neighborhoods. The asset was 60 percent leased at the time of sale. Fabio Faerman of FA Commercial represented both the buyer and the seller in the transaction. The undisclosed buyer plans to reposition the office building’s first two floors into retail space.
AUSTIN — BMC Capital has arranged a refinancing loan for 36 apartment units in the SoCo area of Austin. The borrower used a hard money loan to purchase the units and Hank Crane of BMC’s Austin office arranged the new loan with a lower, long-term fixed interest rate. The new, 10-year loan carries a 5.5 percent interest rate with a 30-year amortization schedule.
NEW YORK CITY — Marcus & Millichap has brokered the sale of 307 East 85th Street, a mixed-use building located in New York City. The 9,625-square-foot property sold for $6.4 million. Peter Von Der Ahe, Joseph Koicim, David Lloyd and Daniel Handweiler of Marcus & Millichap’s Manhattan office represented the seller, a private investor, and the buyer, a private investor, in the transaction. The five-story building offers 15 residential units and one commercial unit. The apartment mix includes four studio units, six one-bedroom units and five two-bedroom units.
HOUSTON — Coldwell Banker Commercial United has arranged the sale of Tiffany Bay Court, an apartment complex located at 16505 Tiffany Bay Court in Houston. Patrick Buckhoff of Coldwell Banker represented the seller. Jerry Turner of Jerry Turner Realty represented the buyer, Homes Renew LLC.
DESOTO, TEXAS — Mark One Capital has arranged financing for the purchase of a four-story, 88-room Holiday Inn Express in Desoto, a suburb of Dallas. Chris Parker and Farhan Kabani of Mark One’s Dallas office arranged the financing. Chris Gomes of Marcus & Millichap’s Dallas office and Allan Miller of the firm’s San Antonio office represented the buyer and the seller in the transaction. The hotel was built in 2006 and renovated in 2012.