ALVARADO, TEXAS — Janet Formhals of Hurst has sold 10 acres of land located at 3100 FM 2738 in Alvarado to Celida Delgado, a private investor. The property is located 27 miles south of Fort Worth. Wayne Burgdorf of Coldwell Banker Commercial Alliance DFW represented the seller. Rico Francisco of Milenio Real Estate represented the buyer.
HOUSTON — NAI Houston represented Profill Holdings LLC in the renewal of the company’s lease of 57,098 square feet at 7200 Gateway Drive in Houston. John Ferruzzo and Darren O’Conor of NAI Houston represented the tenant, Profill Holdings LLC. Jude Fillipone of Transwestern represented the landlord, Teachers Insurance and Annuity Association of America (TIAA-CREF).
TYLER, TEXAS — Monmouth Real Estate Investment Corp. has acquired a 163,378-square-foot industrial building located at 800 Lindale Industrial Parkway in Lindale, a suburb of Tyler, for $10.3 million. The property is net leased for 10 years to FedEx Ground Package System Inc. and sits on 18 acres near I-20 and the Union Pacific rail hub.
CULVER CITY, CALIF. – A 28-unit apartment complex in Culver City has sold to Trion Properties for $6.8 million. The community is located at 4620 South Slauson Ave. Robert Narchi of Marcus & Millichap represented both the buyer and unnamed seller in this transaction.
TEMPE, ARIZ. – Regional Acceptance Corp. has leased 40,000 square feet of space at Papago Technology Center in Tempe. The space is located at 1700 N. Desert Drive. Regional Acceptance is a division of BB&T Bank. It is a national auto finance company. Regional Acceptance was represented by JLL’s Jason Moore and Keith Lammersen. The landlord, WDP Partners, was represented by CBRE’s Bryan Taute.
LOS ANGELES – NAC|Architecture and Osborn Architects have leased 13,000 square feet in the Chinatown district of Los Angeles. The space is located at 837 North Spring Street. The lease is valued at $3.3 million. The space will serve as the new Los Angeles office for the two companies, which recently merged. The firms were represented by Armen Kazaryan of Lee and Associates. The landlord, Redcar Properties, was represented by Jim Jacobsen of Industry Partners.
SPRINGFIELD, MASS. — Marcus & Millichap has brokered the sale of Morgan Square Apartments, a 266-unit residential property located in Springfield. A limited liability company purchased the asset for $9.1 million from an undisclosed financial institution. Converted from a manufacturing and production facility to a residential building in 1987, the property features a mix of 13 studio, 158 one-bedroom units, 24 one-bedroom lofts, 32 one-bedroom platform units, 38 two-bedroom units and one three-bedroom unit. On-site amenities include a fitness center, elevators in each building, laundry facilities and off-street parking. Victor Nolletti, Steve Witten, Gary Witten and Todd Tremblay of Marcus & Millichap represented the seller; Nolletti, Steve Witten and Gary Witten also represented the buyer in the transaction.
EAST HANOVER, N.J. — Bergman Real Estate Group, in a joint venture with a vehicle managed by Rialto Capital Management, a wholly owned subsidiary of Lennar Corp., has acquired 100 Eagle Rock Avenue, an office building in East Hanover. The partnership purchased the 90,000-square-foot property for $6.4 million or $71 per square foot. Current tenants at the property include Friedman LLP, Burns & McDonnell and Hartford Fire Insurance Company. Michael DiFede and Michael Brody of Garden State Office Properties represented the buyer, while Gary Gabriel and Kyle Schmidt of Cushman & Wakefield represented the seller, TA Associates, in the transaction.
VERNON, CONN. — The Boulder Group has brokered the sale of a newly constructed single-tenant retail property located at 426 Talcottville Road in Vernon. The property, which is net-leased to Dollar General, sold for $1.6 million. Situated on 1.11 acres, the 9,262-square-foot property is leased to Dollar General for at least a 15-year term. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a California-based investment firm, in the transaction. The seller was a Northeast-based developer.
NAPLES, FLA. — Investment Properties Corp. has brokered the sale of Goodlette Corners, a 46,000-square-foot retail center located at the intersection of Goodlette-Frank and Pine Ridge roads in Naples. OREXCO purchased the asset from Goodlette Corners LLC for $13.3 million. David Stevens of Investment Properties Corp. represented the buyer in the transaction. Steve Hovland of Hovland Real Estate represented the seller.