more_sales_and_leases

M&M Arranges Sale of 15,400 SF Retail Property in Austin

by Haisten Willis October 24, 2014

AUSTIN — Marcus & Millichap has arranged the sale of Shops at Grandview Hills, a 15,400-square-foot retail property in Austin. Michael Buckner and Richard Mireles of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a limited liability partnership. Buckner and Mireles also secured the buyer, a limited liability company. Shops at Grandview Hills is located at 7814 N. Ranch Road 620 in Austin. The property was built in 2006 and sits on 2.8 acres in northwest Austin.

October 24, 2014

Second SurePoint Self-Storage Facility to be Constructed in Metro Houston

by Haisten Willis October 24, 2014

SUGAR LAND, TEXAS — A second SurePoint self-storage facility is set to be built in metro Houston. The new location will be located on a 2.3-acre property near the intersection of the Grand Parkway and Highway 59 in Sugar Land. This will be SurePoint’s second location in the Houston market. The planned four-story building with 123,000 square feet of rentable space will begin construction in early 2015. SurePoint, which has five locations open in the San Antonio area, also has a location in the Houston suburb of Cypress under contract. Construction on that project is set to begin later this year. Houston developer Bobby Grover is partnering with SurePoint’s Brian Cisarik, Robert Loeb and Jeff Bailey on the developments.

October 24, 2014

Connecticut Industrial Northeast

GTJ REIT Acquires 125,000 SF Industrial Building in Connecticut

by Amy Works October 24, 2014

SHELTON, CONN. — GTJ REIT has acquired an industrial building located in Shelton for an undisclosed price. Situated on 22 acres, the 125,000-square-foot building features an industrial portion with 24-foot clear heights and a central lobby on the second floor with office space. The facility is currently leased and occupied by Sikorsky Aircraft Corp. and guaranteed by United Technologies Corp. pursuant to a lease that expires April 2018. Sikorsky has a five-year extension option on its lease.

October 24, 2014

Multifamily New York Northeast

CPEX Brokers $11M Sale of Development Site in Brooklyn Heights

by Amy Works October 24, 2014

NEW YORK CITY — CPEX Real Estate has brokered the sale of a development site at 88 Schermerhorn St. in the Brooklyn Heights neighborhood of Brooklyn. Rockwood Capital and Heights Realty Advisors purchased the site for $11 million or $330 per buildable square foot. The 3,333-square-foot includes vacant 10,570-square-foot building. Zoned for C5-4 with a special downtown Brooklyn overlay, the site has a maximum floor area ratio of 10, permitting up to approximately 33,330 buildable square feet as of right for residential use. Sean Kelly of CPEX’s Development & Conversion Investment Sales team represented the seller, 88 Schermerhorn LLC, which originally purchased the property in 2013 for $3.75 million. CPEX also procured the buyers in the deal.

October 24, 2014

Healthcare Northeast Rhode Island

RE/MAX Commercial Arranges $3.2M Sale of Rhode Island Medical Office Building

by Amy Works October 24, 2014

WARWICK, R.I. — RE/MAX Commercial has brokered the sale of a 31,500-square-foot medical office building in Warwick. Situated on four acres at 390 Toll Gate Road, the property sold for $3.2 million. The building is occupied by 12 medical groups, including Kent Cardiology, Kent Hospital Lab Services, Bayside Endocrinology, King Opticians, West Bay Surgical Associates and Kent Urology. Andy Kusher and Michael Milano of RE/MAX Commercial represented the seller, Toll Gate Associates. Tom Sullivan of Commercial Realty Advisors represented the buyer, BEM Realty Trust, in the transaction.

October 24, 2014

Florida Retail Southeast

Plaza Advisors Brokers $21.1M Sale of Shopping Center in St. Petersburg

by John Nelson October 24, 2014

ST. PETERSBURG, FLA. — Plaza Advisors has brokered the $21.1 million sale of the South Pasadena Shopping Center, a 165,886-square-foot retail center in St. Petersburg. South Pasadena’s tenant roster includes Walmart Neighborhood Market, Beall’s Outlet, Dollar Tree and CVS/pharmacy. Jim Michalak, Mike Cvetetic and Nick Castellano of Plaza Advisors represented the seller in the transaction. Pine Tree Commercial Realty purchased the asset from VV Florida I LP, a German syndication.

October 24, 2014

Healthcare Maryland Southeast

Scheer Partners Arranges Full-Building Healthcare Lease

by John Nelson October 24, 2014

ROCKVILLE, MD. — Scheer Partners has arranged a full-building, 33,800-square-foot lease at 9708 Medical Center Center Drive in the Center for Life Science | Shady Grove campus in Rockville. GlycoMimetics signed the lease with the building’s owner and operator, BioMed Realty Trust Inc. The property recently underwent extensive renovations, including the addition of a fitness center, shared conferencing facilities, covered walkway, upgraded landscaping, campus lighting, exterior finishes and campus signage. Henry Bernstein and Nathan Crowe of Scheer Partners represented BioMed Realty Trust in the lease transaction.

October 24, 2014

California Office Western

Cypress West Partners Buys Glendale Medical Office Building for $29M

by Nellie Day October 24, 2014

GLENDALE, CALIF. – Cypress West Partners has acquired a 76,758-square-foot medical office building in Glendale for $29 million. The four-story building is located at 1500 E. Chevy Chase Drive. The facility was built in 2008. It sits on the Glendale Adventist Medical Center campus. Cypress West was represented by DAUM Commercial Real Estate Services.

October 24, 2014

California Office Western

Mission Health Center in Rancho Santa Margarita Sells for $7.8M

by Nellie Day October 24, 2014

RANCHO SANTA MARGARITA, CALIF. – Mission Health Center, a 23,289-square-foot medical office building in the Orange County submarket of Rancho Santa Margarita has sold to Cypress West Realty Partners LLC for $7.8 million. The center is located at 22032 El Paseo within the Rancho Santa Margarita Town Center. Mission Health Center was built in 2001. It was 77 percent leased to six medical and dental tenants. The largest tenant is Mission Hospital Regional Medical Center. Dan Vittone and Alan Pekarcik of Avison Young represented both the buyer and the unnamed seller in this transaction.

October 24, 2014

Massachusetts New Hampshire Northeast Retail

Marcus & Millichap Arranges $38.6M Sale of Four-Property Net-Leased Portfolio

by Amy Works October 23, 2014

BOSTON — Marcus & Millichap has brokered the sale of a four-property, net-leased drugstore portfolio. The portfolio sold for $38.6 million. The portfolio consists of a 14,320-square-foot Walgreens in Worchester, Mass., which sold for $9.4 million; a 15,013-square-foot CVS in Foxborough, Mass., which sold for $10.5 million; a 13,612-square-foot Walgreens in Merrimack, N.H., which sold for $7.4 million; and a 14,593-square-foot CVS in Clearwater, Fla., which sold for $11.4 million. Robert Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the seller, a private New England-based real estate family, and the buyer, a private family completing a 1031 exchange, in the transaction. Kirk Felici of Marcus & Millichap’s Miami office is the firm’s broker of record in Florida.

October 23, 2014

Newer Posts

Older Posts