more_sales_and_leases

CBRE Arranges Sale of 238,000 SF Office Building in Philadelphia

by Haisten Willis May 30, 2017

PHILADELPHIA — CBRE has arranged for the sale of a 238,000-square-foot office building at One Crown Way in Philadelphia. CBRE’s Michael Kane represented the buyer, One Crown Properties LLC, during the negotiations, while CBRE’s Carl Gersbach represented the seller, Crown Cork & Seal USA. Crown Cork plans to lease back the building for the short term while seeking a site for a new headquarters property. Ballinger designed the property, which was built in 1996, and Nason and Cullen was the construction manager. The corporate campus environment sits on 40 acres and also includes a cafeteria, fitness center, underground parking and a walking trail.

May 30, 2017

Industrial South Carolina Southeast

NAI Avant Arranges 50,000 SF Industrial Lease in Charleston

by John Nelson May 30, 2017

CHARLESTON, S.C. — NAI Avant has arranged a full-building, 50,000-square-foot industrial lease at 2509 Clements Ferry Road in Charleston. The tenant, Winston-Salem-based plumbing company Murray Supply Co., will use the facility as its Lowcountry distribution center. The property is Murray Supply’s first facility in Charleston. Thomas Boulware of NAI Avant represented Murray Supply in the lease deal. David Seay of Seay Development LLC represented the landlord, Yeros Investments LLC.

May 30, 2017

Midwest Retail Wisconsin

Shoe Sensation Signs 7,240 SF Retail Lease in Beaver Dam, Wisconsin

by Kristin Harlow May 30, 2017

BEAVER DAM, WIS. — Shoe Sensation has signed a 7,240-square-foot retail lease at Heritage Village Mall in Beaver Dam, about 40 miles northeast of Madison. The property is located at 1645 N. Spring St. Joe Kleiman of Mid-America Real Estate-Wisconsin LLC represented the undisclosed landlord in the lease transaction.

May 30, 2017

Office Washington Western

Lake Washington Partners Acquires Commons 90 Office Park in Bellevue

by Nellie Day May 26, 2017

BELLEVUE, WASH. — Lake Washington Partners has purchased Commons 90 Office Park in Bellevue for an undisclosed sum. The two-building park is located at 15800 and 15900 S.E. Eastgate Way. Lake Washington Partners will manage Commons 90 through its property management division and a partnership with Urban Renaissance Group. CBRE’s Jeff Jochums will take over the leasing assignment. The seller was a joint venture between Clarion Partners and Tennessee Consolidation Retirement System.

May 26, 2017

Hospitality Texas

Marcus & Millichap Brokers $1.6M Sale of 86-Room La Quinta Hotel in Channelview, Texas

by Taylor Williams May 26, 2017

CHANNELVIEW, TEXAS — Marcus & Millichap has brokered the $1.6 million sale of an 86-room La Quinta hotel located at 16211 E. Freeway in the eastern Houston suburb of Channelview. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a limited liability company and procured the buyer, a partnership. Both parties requested confidentiality.

May 26, 2017

Florida Industrial Southeast

Easton Group Buys New Distribution Center in Metro Miami for $21.8M

by John Nelson May 26, 2017

MEDLEY, FLA. — An affiliate of The Easton Group has purchased a newly built, 182,000-square-foot distribution center in Miami’s Medley submarket for $21.8 million. The affiliate, EWE Airport North Logistics Center LLC, purchased the asset from the developer, Ridge Development, in an all-cash transaction. The Easton Group is handling leasing and management for the property, which is situated on 10 acres at the corner of 87th Avenue and 90th Street, about six miles north of Miami International Airport.

May 26, 2017

Industrial Office Southeast Virginia

Avison Young Arranges $19.9M Sale of Two Flex Buildings in Metro D.C.

by John Nelson May 26, 2017

CHANTILLY, VA. — Avison Young has arranged the $19.9 million sale of two flex buildings in Washington, D.C.’s Dulles South industrial submarket totaling 245,888 square feet. Beckham Gumbin Ventures purchased the buildings from CIM Group. Built in 1986, the assets are located within Sullyfield Business Park at 14320 and 14340 Sullyfield Circle in Chantilly, about 30 miles west of Washington, D.C. John Kevill, Chip Ryan, Bert Harrell and Jesse Martin of Avison Young represented CIM Group in the sale. Sullyfield Commerce Center I was 95 percent leased at the time of sale to seven tenants including Northrop Grumman, and Sullyfield Commerce Center II was 63 percent leased.

May 26, 2017

Kentucky Multifamily Southeast

Independence Realty Trust Acquires Apartment Community Near Lexington for $14.2M

by John Nelson May 26, 2017

GEORGETOWN, KY. — Independence Realty Trust Inc. has purchased a 160-unit apartment community in Georgetown, a city near Lexington in Scott County. The Philadelphia-based REIT purchased the community from an undisclosed seller for $14.2 million using cash and its available line of credit. Built in 2001, the property features one-, two- and three-bedroom units averaging 1,206 square feet. The asset was about 99 percent occupied at the time of sale and had an average effective rent per occupied unit of $874 per month.

May 26, 2017

Multifamily New York Northeast

IPA Arranges $72.9M Sale of Multifamily Portfolio in Brooklyn

by Haisten Willis May 26, 2017

NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $72.9 million sale of a multifamily portfolio in New York City. The portfolio includes 17 buildings containing 194 residential units and five commercial spaces in central and northern Brooklyn. IPA’s Peter Von Der Ahe, Joe Koicim, Shaun Riney, Daniel Greenblatt and Thomas Shihadeh represented the seller, a private investor, and procured the buyer, a real estate fund. Located in Brooklyn’s Prospect Heights, Crown Heights, Williamsburg and Bedford-Stuyvesant neighborhoods, the portfolio includes 167,668 square feet. The properties are located at 874 Bergen St., 942 Bergen St., 267 Clifton Place, 1400 Dean St., 135 Devoe St., 147 Grand St., 95 Kingston Ave., 403 Macon St., 244 New York Ave., 585 Park Place, 306 Prospect Place, 299 Putnam Ave., 303 Putnam Ave., 927 Putnam Ave., 931 Putnam Ave., 701 Saint Marks Ave. and 276 Throop Ave.

May 26, 2017

New York Northeast Office

CBRE Arranges 101,000 SF Office Lease in White Plains, New York

by Haisten Willis May 26, 2017

WHITE PLAINS, NEW YORK — CBRE has arranged a 101,000-square-foot office lease for Sumitomo Mitsui Banking Corp. at 1 N. Lexington Ave. in White Plains. Sumitomo is a Japanese banking and financial services company headquartered in Tokyo. The company signed a 13-year lease at the office complex. CBRE’s William Cuddy Jr. and Jacqueline Novotny represented the landlord, Gateway One Group, in the transaction. Williams Peters, Derek Trulson, Robert Ageloff and Paul Tortora of Jones Lang LaSalle acted on behalf of Sumitomo.

May 26, 2017

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