more_sales_and_leases

High Real Estate Group Acquires 412-Unit Multifamily Portfolio in Central Pennsylvania

by Amy Works July 26, 2017

LANCASTER, ELIZABETHTOWN AND LEBANON, PA. — High Real Estate Group has purchased a four-property, value-add multifamily portfolio in Central Pennsylvania from Equus Capital Partners for an undisclosed price. The portfolio comprises the 112-unit Greenview Terrace and 85-unit Barrcrest Manor in Lancaster, the 128-unit Village Green in Elizabethtown and the 87-unit Lebanon Court in Lebanon. Mark Thomson, Carl Fiebig, Francis Coyne, Jose Cruz and Matthew Lawton of HFF represented the seller in the transaction. High Real Estate acquired the portfolio free and clear of debt.

July 26, 2017

Multifamily New York Northeast

Ariel Property Advisors Negotiates $15.8M Sale of Two Apartment Buildings in Manhattan

by Amy Works July 26, 2017

NEW YORK CITY — Ariel Property Advisors has arranged the sale of a two-building multifamily portfolio located at 517 W. 180th St. and 570 W. 182nd St. in the Washington Heights neighborhood of Manhattan. A private investor acquired the portfolio for $15.8 million. Totaling 37,305 square feet, the portfolio features 51 residential units in one-, two-, three- and five-bedroom layouts. Thirty-nine of the units are rent stabilized and 12 are free-market apartments. Michael Tortorici, Victor Sozio, Matthew Gillis and Shimon Shkury of Ariel Property Advisors represented the seller, a private investor, and the buyer in the deal.

July 26, 2017

New Jersey Northeast Office

Markeim Chalmers Negotiates $2.4M Sale of Two Office Buildings in Cherry Hill, New Jersey

by Amy Works July 25, 2017

CHERRY HILL, N.J. — Markeim Chalmers Inc. has arranged the sale of two adjacent office buildings located at 401 and 403 Route 70 in Cherry Hill. Becca Inc. sold the buildings, which total 35,700 square feet, to a local investor for $2.4 million. Kevin Burns of Markeim Chalmers represented the seller and buyer in the deal.

July 25, 2017

Connecticut Northeast Retail

Angel Commercial Facilitates $1M Sale of Retail Strip Center in Bridgeport, Connecticut

by Amy Works July 25, 2017

BRIDGEPORT, CONN. — Angel Commercial has arranged the sale of a retail strip center located at 4086-4108 Main St. in Bridgeport. A private investor acquired the property from Applebaum Schneider for $1 million. Luigi’s Italian Pastries anchors the 6,380-square-foot property. Lester Fradkoff of Angel Commercial represented the seller and buyer in the deal.

July 25, 2017

California Industrial Western

Rexford Industrial Buys 1.2 MSF Industrial Facility in Los Angeles

by Nellie Day July 25, 2017

LOS ANGELES — Rexford Industrial Realty has purchased a 1.2 million-square-foot industrial facility in the South Bay submarket of Los Angeles for an undisclosed sum. The facility is located at 20001-20021 Rancho Way and 2301-2399 E. Pacifica Place in Rancho Dominguez. The master-planned park was built between 1987 and 1989. It includes five industrial buildings and one flex building, each residing on its own parcel. Known as Rancho Pacifica Park, the facility was 99 percent leased at the time of sale. Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield represented the seller in this transaction.

July 25, 2017

California Hospitality Western

Rodeway Inn San Diego Sells for $7.5M

by Nellie Day July 25, 2017

SAN DIEGO — An undisclosed buyer has acquired the 63-room Rodeway Inn San Diego for $7.5 million. The hotel is located at 5399 Adobe Falls Road, near Qualcomm Stadium. Joshua Yammer, Sarhan Mheni and Walter Brauer of Marcus & Millichap represented the seller, a partnership, in this transaction.

July 25, 2017

Georgia Retail Southeast

Ziff Properties Purchases Retail Center in Metro Atlanta for $8.7M

by Camren Skelton July 25, 2017

MARIETTA, GA. — Ziff Properties Inc. has acquired Burnt Hickory Village, a 56,640-square-foot retail center located in Marietta, roughly 20 miles north of Atlanta, for $8.7 million. Robby Pfeiffer of Marcus & Millichap facilitated the transaction. The seller was not disclosed. Chicken and the Egg, a farm-to-table restaurant, is housed in the center.

July 25, 2017

Midwest Missouri Office

Hilliker Corp. Brokers $1.5M Sale of Office Building in St. Louis

by Kristin Harlow July 25, 2017

ST. LOUIS — Hilliker Corp. has brokered the sale of a 33,000-square-foot office building in St. Louis for $1.5 million. The Little Bit Foundation, a St. Louis-based nonprofit organization that provides basic needs for children living in poverty, purchased the property for its new headquarters. A commercial construction company previously occupied the building and will continue to occupy a portion of the property, located at 516 Hanley Industrial Court. Hal Ball and Brennan Gaffney of Hilliker Corp. represented the seller, Kraska Enterprises. Bahn Realty represented The Little Bit Foundation.

July 25, 2017

Michigan Midwest Retail

Cohn Commercial Arranges Sale of 30,000 SF Shopping Center in Westland, Michigan

by Kristin Harlow July 25, 2017

WESTLAND, MICH. — Cohn Commercial Properties Inc. has arranged the sale of a 30,000-square-foot shopping center in Westland, about 16 miles west of Detroit. The sales price was not disclosed. The property is located at 35700 W. Warren Road across from Westland Mall. Prime Healthcare Services-Garden City LLC purchased the property from MI Westland Retail Center LLC. Cohn Commercial brokered the transaction on behalf of both parties.

July 25, 2017

Healthcare Texas

Inland Real Estate Acquires 27,500 SF Healthcare Property in Arlington

by Taylor Williams July 25, 2017

ARLINGTON, TEXAS — Inland Real Estate Acquisitions Inc. has acquired the Kleiman/Evangelista Eye Center, a 27,500-square-foot medical office building located at 350 E. Interstate 20 in Arlington. Built in 2015, the center is the only one of the practice’s three locations provides patients with same-day surgicare and expanded treatments beyond Lasik surgery. The company, which is the purchasing arm of The Inland Real Estate Group of Cos. Inc., also helped broker the sale.

July 25, 2017

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