GARDENA, CALIF. — CBRE has arranged the sale of Gardena Crenshaw Plaza, a retail center located at 14730-14842 Crenshaw Blvd. in Gardena. Crenshaw Retail Holding acquired the property from Diamond Rock Partners for $7 million. Dan Riley and Austin Wolitarsky of CBRE represented the seller, while the buyer was self-represented with Mark Rafeh and John Proia of Promark Investments being the primary principals. At the time of sale, the 26,504-square-foot property was 100 percent occupied. AutoZone is the anchor tenant.
SOUTH PORTLAND, MAINE — The RAM Companies has completed the disposition of RiverPlace, an apartment complex located at 1 River Place Drive in South Portland. RiverPlace Properties LLC acquired the 136-unit property for an undisclosed price. Situated on 11 acres, the four-building complex features apartments with private decks and central A/C, a waterfront pool, tennis courts, a clubhouse with fitness center, a private dock for canoes and kayaks, gated access and covered parking. Simon Butler of CBRE represented the seller, while Jim Harnden of Harnden Commercial Brokers represented the buyer in the transaction. RiverPlace was opened by developer Howard A. Goldenfarb and his team at RAM in 2003.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of an apartment building located at 316 E. 55th St. in Manhattan. An undisclosed buyer acquired the seven-story 25,040-square-foot building for $17 million, or $678 per square foot. The elevator-serviced building features 41 rent-regulated apartments, a laundry room and 1,000 square feet of amenity space. The buyer plans to implement a significant renovation program at the building. Clint Olsen, Alex Woodlief and Will Conrad of Cushman & Wakefield represented the undisclosed seller in the deal. George Samarjian of Lineaire Group served as advisor to the seller.
ROSELAND, N.J. — CBRE has arranged the sale of an office building located at 4 Becker Farm Road in Roseland. An undisclosed buyer purchased the 281,762-square-foot building for $16.7 million. At the time of sale, the building was 95 percent leased to a variety of tenants, including KMPG and CohnReznick. Jeffrey Dunne, Jeremy Neuer, Patrick Arangio, Jack Howard and Nick Savage of CBRE represented the seller, a special servicer, in the transaction.
NEW YORK CITY — Besen & Associates has arranged the sale of a mixed-use building located at 151 Bruckner Blvd. in the South Bronx’s Port Morris section. The five-story building features 12 apartment units and four retail spaces. A group led by Steven Satz (151 Realty LLC) acquired the property for an undisclosed price. Amit Doshi and Shallini Mehra of Besen & Associates represented the undisclosed seller in the deal.
SIMI VALLEY, CALIF. — A 1031 exchange buyer has acquired Rand Medical Building, a 19,833-square foot office property in Simi Valley, for $3 million in an all-cash transaction. The property is located at 1633 Erringer Road. It was 75 percent leased at the time of closing. The buyer plans to occupy a portion of the building. Gregory Mills of Marcus & Millichap represented the seller, an individual/personal trust, in this transaction.
PHILADELPHIA — Gladstone Commercial has purchased a single-tenant industrial building in Philadelphia. PNC Realty Investors, as investment advisor to the AFL-CIO Building Investment Fund, sold the 300,000-square-foot facility for an undisclosed price. The National Archives and Records Administration has leased the building through 2032, with a termination option beginning in 2027. The property is located on a 30.3-acre site with the ability to accommodate future expansion. Michael Hines, Brian Fiumara, Brad Ruppel, Lauren Dawicki and Jeffrey Shell of CBRE represented the seller in the transaction.
NEW YORK CITY — Akelius has acquired a multifamily building located at 185 Prospect Park West in Brooklyn. A private local investor sold the property for $7.2 million, or $725,000 per unit. Built in 1920, the building features 10 apartment units. Michael Stimler of Greysteel represented the buyer and seller in the transaction.
RANCHO CUCAMONGA, CALIF. — Rexford Industrial Realty has purchased a 201,035-square-foot industrial property in the Inland Empire West submarket of Rancho Cucamonga for $19.8 million. The property is located at 11190 White Birch Drive. The asset is fully leased to a single tenant in the logistics industry on a triple-net basis at below-market rent. The building was originally constructed for two tenants, but, upon lease expiration, the property has the potential for efficient re-tenanting to two tenants at higher rents. The acquisition was funded utilizing the company’s line of credit. The seller was not disclosed.
DENVER — A fund advised by CBRE Global Investors has acquired Viridian at the Gardens on Havana near Denver for an undisclosed sum. The 227-unit garden-style community is located at 10901 E. Garden Drive in Aurora. Viridian is two miles from a light rail station that is scheduled to open later this year. It sits adjacent to the 500,000-square-foot Gardens on Havana Shopping Center. The Class A community is nearly 95 percent occupied. ARA represented the seller.