NEW YORK CITY — Cushman & Wakefield has negotiated the $9.9 million sale of 43-10/24 Queens Blvd., an 8,521-square-foot retail building in the Sunnyside neighborhood of Queens. The single-story property features 95 feet of retail frontage and currently houses eight retail tenants. Tom Donovan, Will Suarez, Eugene Kim, Maurice Suede and Sean Rucker of Cushman & Wakefield represented the seller in the transaction. The buyer was undisclosed.
PHILADELPHIA — Colliers International has brokered the $3.3 million sale of 1026 Arch St. in the Chinatown neighborhood of Philadelphia. The three-story, 9,000-square-foot building currently houses ground-floor retail and second-floor office space. Colliers represented the seller, Alfred and Nancy Cappelli, in the transaction. A private investor purchased the building.
BLOOMINGTON, IND. — The Preiss Company and TH Real Estate have acquired The Park on Morton, located two blocks from Indiana University in Bloomington. The purchase price was not disclosed. Preiss will manage the 472-unit student housing property, which will undergo upgrades to the clubhouse and amenity spaces. Several of the units will receive upgrades as well. Situated on the western edge of campus, The Park on Morton features a mix of one-, two-, three- and four-bedroom units, which are all fully furnished.
HOUSTON — HFF has negotiated the sale of Interwood Business Center, a 192,000-square-foot industrial asset located near George Bush Intercontinental Airport in north Houston. The two-building property, which includes one rear-load building and one cross-dock building, features 24-foot clear heights, dock-high doors and 130- to 190-foot truck courts. Trent Agnew, Rusty Tamlyn and Dane Petersen of HFF represented the seller, Stockbridge Capital Group, in the transaction. California-based Black Equities Group Ltd. purchased the property, which was 93 percent leased at the time of sale, for an undisclosed price.
NEWARK, DEL. — CBRE has negotiated the sale of 322 Ruthar Drive in Newark for an undisclosed amount. DuPont Transportation & Advanced Polymers acquired the 120,000-square-foot industrial facility. CBRE represented DuPont in the transaction. The seller was undisclosed. DuPont has committed to invest $45 million in the new facility, which will increase its manufacturing capacity for DuPont Kalrez, a specialized engineered material used in a variety of sealing applications.
CASSELBERRY, FLA. — ARA Newmark has arranged the $72.3 million sale of Bainbridge Crossing, a 336-unit apartment community located in Casselberry, roughly 10 miles north of downtown Orlando. Scott Ramey and Patrick Dufour of ARA Newmark arranged the transaction on behalf of the seller and developer, The Bainbridge Cos. TH Real Estate, an affiliate of Nuveen, acquired the asset. Matthew Williams of NKF Capital Markets secured acquisition financing on behalf of TH Real Estate. Constructed in 2017, Bainbridge Crossing features a clubhouse, resort-style pool, fitness center with a separate yoga room and a dog park. The community was approximately 96 percent occupied at the time of sale.
SAN FRANCISCO — HFF has arranged the sale of a subdivided office condominium interest in 1390 Market St., a transit-oriented office building in San Francisco. Broadreach Capital Partners sold the property to Swift Real Estate Partners for $109.8 million. Michael Leggett, Gerry Rohm, David Dokko, Ben Bullock, Thomas Foley and Austin White of HFF represented the seller and procured the buyer in the deal. Additionally, Jordan Angel and Bercut Smith, also of HFF, arranged a $103.6 million floating-rate loan through Brookfield for the buyer. Located in San Francisco’s Mid-Market, the property features 218,791 square feet of office space and 920 square feet of ground-floor retail space. Originally built in 1967, the property was renovated in 2007. Current tenants include Twitter, Jones Clifford and several branches of the City of San Francisco. The property also includes apartments on the top floors, which were not included in the sale or financing.
MANCHESTER, MO. — Kimco Realty Corp. has sold an 89,305-square-foot retail building occupied by Kohl’s in Manchester, a suburb of St. Louis, for $8.6 million. Kohl’s has occupied the property since 1998 and recently executed a 10-year lease extension. The single-tenant building is situated on 9.5 acres at 14425 Andersohn Drive. Marc Mandel, Steve Schrenk and Danny Kaufman of HFF represented Kimco in the sale. The buyer was not disclosed.
MINNEAPOLIS — Marcus & Millichap has brokered the $1.4 million sale of Colfax Avenue in the Uptown neighborhood of Minneapolis. The 12-unit apartment building is located at 2500 Colfax Ave. Built in 1967, the property features nine one-bedroom units and three studios. Mox Gunderson, Dan Linnell, Josh Talberg and Abe Roberts of Marcus & Millichap brokered the transaction. Both the buyer and the seller were private investors.
CHARLOTTE, N.C. — CBRE has arranged the sale of 400 South Tryon, a 33-story office tower in Charlotte’s central business district. Funds managed by Oaktree Capital Management LP acquired the property from DRA Advisors and Trinity Capital Advisors. The sales price was not disclosed, but the Charlotte Business Journal reports the building sold for $133.5 million — more than double the price the joint venture paid in 2014. Patrick Gildea, Matt Smith, Will Yowell, Justin Parsonnet and Jay O’Meara of CBRE arranged the transaction on behalf of DRA and Trinity Capital. CBRE’s Harris Ralston, Jeff Ackerman and Jonathan Rice arranged a floating-rate loan on behalf of Oaktree. 400 South Tryon underwent significant renovations during its prior ownership, including a modernized lobby, new restrooms, new fitness center and new street-level retail space. The building was 94.6 percent leased at the time of sale. Companies recently joining the tenant roster include Skillstorm, Document Technologies and Driven Brands.