LOS ANGELES — Rexford Industrial Realty has purchased a six-building industrial park in the Los Angeles submarket of South Bay for $210.5 million. The Class A park is known as Rancho Pacifica Industrial Park. The acquisition contains a total of about 1.2 million square feet on 56 acres. The park is leased to 23 tenants. It sits adjacent to the Alameda Intermodal Corridor, six miles from the Ports of Long Beach and Los Angeles.
UPPER GWYNEDD TOWNSHIP, PA. — Newmark Knight Frank (NKF) has arranged the sale of a commercial building located at 212 Church Road in Upper Gwynedd Township, approximately 30 miles north of Philadelphia. Patriarch VIII, a part of Patriarch Management, sold the one-story building to Gorman & Co. for $3.7 million. The buyer plans to convert the 94,000-square-foot building into a high-end, climate-controlled self-storage facility. Neil Shupak and Justin Bell of NKF represented the seller in the transaction.
HARTFORD, CONN. — Aria Legacy Group has purchased Congress Street Apartments, a 65-unit multifamily portfolio located in downtown Hartford. Redbrick Partners sold the portfolio for $3.2 million, or nearly $50,000 per unit. The portfolio comprises 11 historic multifamily townhouses with parking on Congress, Morris and Alden streets. Edward Jordan and Taylor Perun of Northeast Private Client Group represented the seller and sourced the buyer in the deal.
RIDGEFIELD PARK, N.J. — NAI James E. Hanson has arranged the sale of an office building located at 158 Bergen Turnpike in Ridgefield Park. Wooti Realty LLC sold the 4,500-square-foot building to 158 Bergen Owners LLC for an undisclosed price. The buyer plans to relocate its fire and security systems sales business from Brooklyn to the new site. Anthony Cassano of NAI Hanson represented the seller, while Marcus & Millichap represented the buyer in the transaction.
NEW YORK CITY — Cignature Realty Associates has brokered the sale of a three-building multifamily portfolio located in the Hell’s Kitchen section of Manhattan. A private interest fund acquired the portfolio from Yaron LLC for $15.5 million. Totaling 34 apartment units, the portfolio includes 439, 441 and 443 W. 48th St. The adjacent buildings, which total 24,515 square feet, were constructed in 1901. Lazer Sternhell, Peter Vanderpool and Michael Rahimzada of Cignature Realty represented the seller and buyer in the deal.
CAMBRIDGE, MASS. — CBRE/New England has brokered the sale of two office buildings located at 125 and 150 Cambridgepark Drive in Cambridge. CBRE Global Investors sold the asset to a joint venture between Longfellow Real Estate Partners and an undisclosed investor for an undisclosed price. The institutional-quality buildings total 470,258 square feet of multi-tenant office space and include a recently constructed 456-space parking garage. Dave Pergola, Brian Doherty, Chuck Kavoogian and Adam Brinch of CBRE represented the seller and procured the buyer in the transaction.
GERMANTOWN, MD. —Marcus & Millichap has arranged the $9 million sale of a 43,245-square-foot retail property leased to Harris Teeter in Germantown, about 27 miles northwest of Washington, D.C. Josh Ein and Dean Zang of Marcus & Millichap facilitated the transaction on behalf of the seller, a private local investor. The buyer, a local private family office, procured an 11-year, non-recourse CMBS loan for the acquisition. Constructed in 1997, the grocery store sits on a 10.6-acre parcel of land on Darnestown Road. Harris Teeter is a wholly owned subsidiary of The Kroger Co.
INDIANAPOLIS — Alpha Partners has acquired Meridian Marketplace in the Greenwood submarket of Indianapolis. The purchase price was not disclosed. The 41,445-square-foot shopping center is located at 8923 S. Meridian St. Crystal Kennard and Scot Courtney of Lee & Associates will oversee leasing of the center, which has 10,815 square feet available for immediate lease. The seller was not disclosed.
SMITHTOWN, N.Y. — American Investment Properties has arranged the sale of Smithwest Plaza, a retail strip center located at 1041 W. Jericho Turnpike in Smithtown. Smith West Plaza LLC sold the property to Summit Blossom LLC for $2.1 million, or $205 per square foot. The 7,200-square-foot property was constructed in 1987. Ron Koenigsberg of American Investment Properties represented the seller and buyer in the 1031-exchange transaction.
BROCKPORT, N.Y. — Marcus & Millichap has arranged the sale of a medical office building located at 6668 Fourth Section Road in Brockport. A REIT acquired the asset from an undisclosed developer for $8.7 million. Unity Hospital of Rochester leases the entire 29,497-square-foot building on a long-term, triple-net basis. Ryan Moore and Christopher Mitchel of Marcus & Millichap represented the seller and secured the buyer in the deal. Additionally, John Krueger of Marcus & Millichap assisted in the closing.