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NKF Brokers $282M Sale of Mixed-Use Building in Manhattan

by David Cohen December 18, 2018

NEW YORK CITY — NKF has brokered the sale of a 349,274-square-foot mixed-use building in the Bryant Park neighborhood of Manhattan for $282 million. Located at 114 W. 41st St., the 22-story property is currently 91 percent leased to 13 office tenants and several street-level restaurants. Office tenants include Roku, Quartet Health, View the Space (VTS), Kensington Publishing, SpotCo and the New York headquarters of Guess?. The property recently underwent nearly $30 million in capital investment, including a dual-entrance lobby and tenant-only amenity center. James Kuhn, Edward Maher, David Colen and James Tribble of NKF’s New York Capital Markets team represented the seller, Blackstone, in the transaction. The buyer was Clarion Partners.

December 18, 2018

Acquisitions Mixed-Use New York Northeast

Cushman & Wakefield Negotiates $6.1M Sale of Mixed-Use Property on Upper East Side

by David Cohen December 18, 2018

NEW YORK CITY — Cushman & Wakefield has negotiated the $6.1 million sale of a four-story mixed-use property on the Upper East Side of Manhattan. Located at 218 E. 61 St., the property includes two floors of commercial space as well as two floors of residential space. A periodontics practice currently occupies the commercial space. Will Conrad of Cushman & Wakefield, in partnership with Olshan Realty, represented the seller, Teri Betesh. The buyer was Justin Derfner of the Feil Organization.

December 18, 2018

Acquisitions Midwest Ohio Retail

Eidi Properties Acquires Two Shopping Centers in Rossford, Ohio

by Kristin Harlow December 18, 2018

ROSSFORD, OHIO — Eidi Properties has acquired Crossroads Centre and Rossford Pointe near Toledo for an undisclosed price. RPT Realty, a publicly traded real estate investment trust, was the seller, according to The Blade, Toledo’s daily newspaper.Crossroads Centre is a 470,225-square-foot power center anchored by Target and Home Depot. Rossford Pointe spans 47,477 square feet. Toledo-based Eidi Properties now owns 40 shopping centers.

December 18, 2018

Acquisitions Illinois Midwest Retail

Thor Equities Sells Retail Property in Chicago for $26M

by Kristin Harlow December 18, 2018

CHICAGO — Thor Equities Group has sold its two-level retail property at 36 S. State St. in Chicago for $26 million. Jenel Management Corp. purchased the asset. Verizon, T-Mobile and Blick Art Materials fully occupy the 18,800-square-foot property. Thor Equities purchased the entire 19-story building for $10.3 million in 2004, before selling the upper floors to a developer for conversion to residential condominiums.

December 18, 2018

Acquisitions Illinois Midwest Net Lease Retail

Adelphia Properties Brokers $4.4M Sale of Property Net Leased to CVS in Taylorville, Illinois

by Kristin Harlow December 18, 2018

TAYLORVILLE, ILL. — Adelphia Properties has brokered the $4.4 million sale of a single-tenant property net leased to CVS Pharmacy in Taylorville, about 25 miles southeast of Springfield. The 13,255-square-foot building is located at 401 N. Webster St. George Spirrison and Simeon Spirrison of Adelphia represented the buyer, a private investor. CVS has more than 22 years remaining on its lease.

December 18, 2018

Acquisitions Multifamily Washington Western

CBRE Directs Sale of 94-Unit Multifamily Property in Richland, Washington

by Amy Works December 18, 2018

RICHLAND, WASH. — CBRE has arranged the sale of 575 Columbia, a 77,700-square-foot multifamily property located along the Columbia River in Richland. Evergreen Housing Development Group sold the property for an undisclosed price. Phil Oester, Joe Nydahl and Josh McDonald of CBRE’s Portland office represented the seller in the deal. The name of the buyer was not released. Built in 2017, 575 Columbia features 58 one-bedroom units and 36 two-bedroom units with nine-foot ceilings, quartz countertops and ample storage. Community amenities include a resident pool and lounge, as well as a fitness center.

December 18, 2018

Acquisitions New Jersey Northeast Office

JLL Brokers $33.5M Sale of Office Park in Somerset, New Jersey

by David Cohen December 17, 2018

SOMERSET, N.J. — JLL Capital Markets has brokered the $33.5 million sale of Atrium Corporate Park in Somerset. Located at 300, 400 and 500 Atrium Drive, the 679,251-square-foot office park consists of three buildings and is situated on more than 47 acres. Joseph Garibaldi, Thomas Walsh, Heather Lombardi, Katelyn Borovsky and Nick Vanderslice of JLL represented both the buyer and seller, who were undisclosed, in the transaction.

December 17, 2018

Acquisitions Industrial Office Washington Western

Investcorp Sells 201,766 SF Tech Campus in Washington to Equus Capital Partners

by Amy Works December 17, 2018

BOTHELL, WASH — Investcorp has completed the sale of Highlands Campus Tech Centre, a technology campus located at 21520, 21312 and 21222 30th Drive SE in Bothell. Equus Capital Partners acquired the asset for an undisclosed price. The 201,766-square-foot campus features two flex/R&D buildings and one office building. Kevin Shannon, Nick Kucha, Ken White, Michael Moll and Bill DeLacy of Newmark Knight Frank represented the seller in the deal.

December 17, 2018

Acquisitions Illinois Midwest Multifamily

Interra Brokers $3.2M Sale of Multifamily Building in Chicago

by Kristin Harlow December 17, 2018

CHICAGO — Interra Realty has brokered the sale of a 61-unit multifamily building in Chicago’s South Shore neighborhood for $3.2 million. Located at 7131-7151 S. Bennett Ave., the property includes a mix of studios, one-, two- and three-bedroom units. The buyer plans to make capital improvements to the units. At the time of sale, the units were 80 percent leased. Lucas Fryman of Interra represented both parties.

December 17, 2018

Acquisitions Northeast Office

Savanna Acquires 126,256 SF Office Building in Manhattan for $100M

by David Cohen December 14, 2018

NEW YORK CITY — New York City-based real estate investment owner/operator Savanna has acquired a 12-story, 126,256-square-foot office and retail building in the NoMad neighborhood of Manhattan. The sales price was $100 million. Located at 48 W. 25th St., the property was built in 1920. Savanna plans to implement a $21 million capital improvement plan at the property, which will include a complete lobby renovation as well as roof and façade repairs. Adam Spies, Adam Doneger and Josh King of Cushman & Wakefield represented the seller, a longtime family owner, in the transaction.

December 14, 2018

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