SCOTTSDALE, ARIZ. – Hartford Place, a 66,800-square-foot flex office/warehouse in Scottsdale, has sold to Hartford Exchange LLC and Reems & Greenway LLC for $7 million. The property is located at 8388 E. Hartford Drive within the Perimeter Center Business Park. HomeSmart recently signed on to occupy half of the building. The seller, Buchanan Street Partners, was represented by Eric Wichterman, Mike Coover and Michael Kitlica of Cassidy Turley.
PHOENIX – Tierra Del Sol, a 42,994-square foot retail property in Phoenix, has sold to Pacific Property Group for $4.2 million. The center is located at 1606 East Bell Road. It is currently 75 percent leased. Ben Tashakorian and Stuart Fagan of Marcus & Millichap’s San Diego office represented both the buyer and seller, 5121 Glendale Associates, in this transaction.
LOS ANGELES – The 22,416-square-foot Diamond Indoor Swapmeet in Los Angeles has sold to an undisclosed non-profit organization for $3.6 million. It is located in an infill area of South Gate along Firestone Boulevard. The property contains a large building that serves as the Diamond Indoor Swapmeet, general store and banquet hall. The second building had been used for a small taco stand. The seller, Diamond 888 LLC, was represented by Steve Liu and Roger Niez of NAI Capital’s Orange County office.
SOUTHGAE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 4,450-square-foot retail building in Southgate. Girrbach-Krasun Funeral Home is located at 15748 Fort St. Fort Street Associates LLC purchased the property for an undisclosed sales price. Paul Feldman of Friedman represented the seller, Land Holding LLC, and the buyer in the transaction.
HACKENSACK, N.J. — Marcus & Millichap has arranged the sale of a net-leased retail property located on Polifly Road in Hackensack. The 10,000-square-foot asset, which is net-leased by CVS, sold for $3.7 million. Michael Lombardi and Greg Babaian of Marcus & Millichap’s New Jersey office listed the property on behalf of the seller, a private investor. Giovanni LaGalia and Scott Plasky of Marcus & Millichap’s Manhattan office secured and represented the buyer in the transaction.
NEW YORK CITY — Winick Realty Group has brokered the leases of two retail storefronts at 22 Spring St., which is located between Mott and Elizabeth streets in the Nolita neighborhood of New York City. The two 700-square-foot spaces were previously ground-floor apartments and recently underwent renovations to become retail space. Paint Box, an art gallery and custom framing store, and The Clay Pot, a boutique jewelry store, have leased the storefronts. Matthew Ball of Winick Realty Group represented Paint Box, which is opening in October. Andrew Mendel and Lindsay Charles of Ripco represented The Clay Pot, which plans to open in time for the holiday season. Darrell Rubens, Lee Block and Matthew Ball of Winick Realty Group represented the landlord, Samy Manhar, in the transactions.
WHITE PLAINS, N.Y. — GHP Office Realty has leased the entire 15,000-square-foot, street-level of 7-11 South Broadway in White Plains. Located in the central business district, the four-story, 70,000-square-foot building has been repositioned to medical use and is now 100 percent leased to medical tenants. Formé Rehabilitation Inc. has signed a long-term lease for 11,500 square feet of space at the building. Gina Cappelli and Bruce Berg of Cappelli Enterprises represented Formé Rehabilitation Inc. Additionally, Broadway Dental Associates inked a long-term lease for the remainder of the floor, approximately 3,500 square feet, for a state-of-the-art dental infrastructure facility. Jamie Schwartz provided in-house representation for the owner, GHP Office Realty, in the deals.
PENSACOLA, FLA. — Marcus & Millichap has arranged the $4.1 million sale of a 42,296-square-foot Walmart Neighborhood Market located at the corner of Mobile and Pine Forest roads in Pensacola. Don McMinn and Zachary Taylor of Marcus & Millichap’s Atlanta office represented the seller, a Tennessee-based developer, in the transaction. Patrick Furlong of Marcus & Millichap’s Seattle office represented the buyer, a private 1031 investor. Kirk Felici of Marcus & Millichap’s Miami office is the firm’s broker of record in Florida. Walmart has a 20-year triple-net lease on the asset, which opened for business in July 2014.
ATLANTA — HREC Investment Advisors has brokered the sale of the Sheraton Atlanta Airport Hotel, a 395-room property located one mile from Hartsfield-Jackson Atlanta International Airport. Monty Levy, Bill Murney and Scott Stephens of HREC represented the seller, FelCor Lodging Trust Inc., in the transaction. The buyer, an affiliate of Hotel Capital LLC, has selected Expotel Hospitality to manage the hotel.
LIVINGSTON, N.J. — The Fresh Market has opened its third location in New Jersey at The Village at Livingston in Livingston. The store has signed a long-term lease to occupy 23,000 square feet at the 93,000-square-foot shopping center, which is owned and managed by Eastman Cos. Located at 277 Eisenhower Parkway, the shopping center serves a growing residential population of more than 185,000 people within a five-mile radius. The Fresh Market was founded in 1982 and provides a product selection and expert customer service in an atmosphere that is reminiscent of European-style markets. The company currently operates 155 stores in 26 states.
