FORT WASHINGTON, PA. — Laurus Corp. has arranged the $22.5 million sale of the Hilton Garden Inn located in the Philadelphia suburb of Fort Washington. Laurus acted as sponsor on behalf of Ethika Diversified Opportunity Real Estate Fund. After acquiring the hotel in 2013, Laurus implemented a $2.5 million value-add strategy including a renovated lobby and outdoor seating areas as well as enhancements to the guest rooms. Laurus also selected a new management company. The property is located adjacent to the Fort Washington Office Park.
TARRYTOWN, N.Y. — Cushman & Wakefield has brokered the sale of an office property at 555 White Plains Road in Tarrytown to Robert Martin Co. (RMC). RNY Property Trust sold the 133,645-square-foot, five-story office building, which sits on 4.2 acres with frontage along White Plains Road. Currently 25 percent leased to two tenants, the building features floor sizes of 33,000 square feet with 386 parking spaces. Cushman & Wakefield’s team included Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso II and Al Mirin.
HAMPSTEAD, N.H. — NAI Norwood Group has negotiated the $2.4 million sale of the former Granite Rose events center located at 22 Garland Drive in Hampstead. Matt Bacon, Pam Lynch and Karl Norwood of NAI Norwood Group represented the seller of the 32,000-square-foot property. Z Golf Food & Beverage was the buyer. Z Golf operates a collection of banquet and meeting centers under the Wedgewood Wedding & Banquet Center brand, and will rename the center Wedgewood Granite Rose.
CHICAGO — CIM Group has acquired two newly constructed buildings in Chicago’s Wicker Park for an undisclosed price. Built in 2016, 1643 N. Milwaukee Ave. is a mixed-use property comprising, residential, office and retail space. 1237 N. Milwaukee Ave., a mixed-use property consisting of residential and retail space, just received a certificate of occupancy. Together, the buildings include 96 apartment units, 23,000 square feet of street-level retail space and 17,400 square feet of office space.
SWANSEA, ILL. — BARBERMurphy Group has arranged the sale of a 108-unit apartment property in Swansea, about 15 miles east of St. Louis. The sales price was not disclosed. The building, located at Cantwell Lane and Old Collinsville Road, consists of 113,400 square feet. BARBERMurphy represented the seller, Dan L. Sheils LLC. Swansea Applegate Apartments LLC purchased the property.
ALPHARETTA, GA. — Colliers International has brokered the $21.2 million sale of Mansell Commons Business Park, a nine-building, 223,251-square-foot business park located along Mansell Road in Alpharetta. The project includes office, showroom, retail and warehouse space. Roswell, Ga.-based Mimms Investment purchased the property from Atlanta Property Group LLC. Dennis Mitchell and Matt Wirth of Colliers represented the seller in the transaction.
LOUISVILLE, KY. — Baceline Investments has purchased Shoppes at Forest Green, a 48,716-square-foot shopping center located at 10001 Forest Green Blvd. in Louisville. A private investor sold the asset to Baceline for $7 million. The property was 84 percent leased at the time of sale to tenants such as Metro PCS, Nails on K, Four Season Barber Shop, ShowMe Crossfit, A Better Pizza, Mike’s Grill & Tap and Computer Depot.
HUNTSVILLE, ALA. — Dallas-based Venture Commercial Real Estate has arranged a 20,000-square-foot lease for Northern Tool + Equipment in Huntsville. The new store will be located at 7262 Governors West along Interstate 565. Clay Mote of Venture Commercial is the master broker for Northern Tool in all markets across the U.S. and represented the tenant in lease negotiations. Kathy Dennis of The Shopping Center Group’s Birmingham office represented the landlord, Sen LLC.
BOSTON — HFF has secured the $8.9 million sale of Newmarket Center, a 55,000-square-foot office building located at 67 Kemble St. in Boston’s Roxbury submarket. HFF arranged the sale on behalf of the seller, DDJB Real Estate Holdings, and procured the buyer, The Winhall Cos., on an off-market basis. Urban Core Development redeveloped the property and served as its manager. Newmarket Center was originally built in the 1880s to house one of the area’s blacksmith shops, which operated until the 1930s. After sitting vacant, the building was again occupied in the 1940s by Newmarket Wool and operated as a wool storage and sorting warehouse for roughly 50 years. The building then ended up vacant during the late 1990s. Urban Core Development redeveloped the former warehouse into a loft-style office building in 2014 and 2015. Ben Sayles and Adam Dunn led the HFF investment sales team representing the seller.
REVERE, MASS. — NAI Hunneman has brokered the $6.3 million sale of 777 N. Shore Road, a 31,950-square-foot office/warehouse building located on Route 1A in Revere. The location will be the new headquarters location for AmQuip, a crane rental company. NAI Hunneman’s Trey Agnew represented the landlord, N.S. Realty Trust, while Steve Clancy of CBRE represented the buyer, Alterra LLC. The property includes a one- and two-story office and warehouse building, with the office component accounting for 25 percent. The warehouse component features 23-foot clear heights and 10 overhead doors.