LIVINGSTON AND NEW PROVIDENCE, N.J. — Cushman & Wakefield has arranged the $40.5 million sale of two medical office buildings totaling 131,314 square feet in Northern New Jersey. The buildings, which are located in Livingston and New Providence, were both fully leased at the time of sale to regional provider Summit Health. Gary Gabriel, Frank DiTommaso, David Bernhaut, Andy Merin and Max Helfman of Cushman & Wakefield represented the seller, The Silverman Group, in the transaction. Len Blackman of Leklen Realty represented the buyer, Nashville-based Montecito Medical Real Estate.
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MORRISTOWN, N.J. — Cushman & Wakefield has brokered the $21.5 million sale of Morristown Plaza, a 122,103-square-foot office complex in Northern New Jersey. The development consists of two buildings on a 3.9-acre site. Gary Gabriel, David Bernhaut, Frank DiTommaso, Bill Baunach, Maia Sirabian, Andy Schwartz, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller, The Silverman Group, in the transaction. The buyer was Pentaurus Properties. The property, which was 92 percent leased at the time of sale, offers a fitness center, café and conference facilities.
LIVINGSTON, N.J. — Cushman & Wakefield has arranged the sale of West Essex Logistics Center, a 293,887-square-foot industrial property in the Northern New Jersey community of Livingston. The property is a redevelopment of the former CIT Bank office headquarters campus and features a clear height of 36 feet, 54 loading docks and two drive-in doors. Gary Gabriel, David Bernhaut, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield represented the seller, a partnership between Bluewater Property Group and Affinius Capital, in the deal. The buyer was Atlanta-based Invesco Real Estate.
EAST LONGMEADOW, MASS. — New York City-based ShopOne Centers REIT Inc. has acquired Heritage Park Plaza, a 117,337-square-foot retail property in East Longmeadow, located in Hampden County in western Massachusetts. Grocer Stop & Shop anchors the property, which was 98 percent leased at the time of sale. Other tenants at Heritage Park Plaza include Petco, orangetheory Fitness, Panera Bread, Dollar Tree, Pure Barre, 99 Restaurant & Pub and H & R Block. ShopOne Centers acquired the asset in a joint venture with Pantheon Group and an undisclosed institutional investor. The seller was also not disclosed.
IRVING, TEXAS — Locally based brokerage firm Wellington Realty has arranged the sale of Cielo Azul, an apartment community in Irving that was originally built in 1985 and totals 320 units, according to Apartments.com. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center, playground and outdoor grilling and dining stations. David Shaffer, Caleb Jones, Will Miller and Charles Larkam of Wellington Realty brokered the deal. The buyer and seller were not disclosed.
NEW YORK CITY — Long Island-based investment firm Bayrock Capital has acquired a 381-room Holiday Inn hotel located in the Long Island City area of Queens for $76.5 million. The 114,000-square-foot hotel, which is located at 37-10 10th St., opened in 2022 and offers a business center, fitness center and a convenience mart. Jake Blatter of KFIR Capital represented Bayrock Capital in the off-market transaction. The seller was New York-based owner-operator McSam Hotel Group.
HOUSTON — Marcus & Millichap has brokered the sale of Space City Self Storage, a 400-unit facility located about 10 miles south of downtown Houston. The facility consists of nine buildings that house 225 non-climate-controlled units and 175 climate-controlled units for a total of 57,545 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston-based limited liability company, in the deal. The duo also procured the buyer, an Arizona-based REIT. Both parties requested anonymity.
THE WOODLANDS, TEXAS — JLL has negotiated the sale of two office buildings totaling 153,294 square feet in The Woodlands, about 30 miles north of Houston. The buildings sit on a combined 9.8 acres at 10200 Grogans Mill Road and 1610 Woodstead Court and had a collective occupancy rate of about 67 percent at the time of sale. Rick Goings, Marty Hogan and Kevin McConn of JLL represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
GALVESTON, TEXAS — Colliers has arranged the sale of Lakeside at Campeche, a 320-unit apartment community located in the southeastern Texas city of Galveston. The property offers one- and two-bedroom units and amenities such as a pool, outdoor gym and grilling and dining stations. Chip Nash, Bob Heard and Jaleel Adatia of Colliers represented the seller, a California-based joint venture that owned the property for 20 years, in the transaction. Metro Dallas-based investment firm Clearworth Capital purchased the asset for an undisclosed price.
HINGHAM, MASS. — Newmark has brokered the $45.2 million sale of Lincoln Plaza, a 127,505-square-foot shopping center located about 20 miles south of Boston in Hingham. A 68,087-square-foot Stop & Shop grocery store and a 31,882-square-foot Marshalls anchor the center, which was 99 percent leased at the time of sale. Robert Griffin, Jon Martin, Paul Penman and Matthew Adler of Newmark represented the seller, AEW, in the transaction and procured the buyer, a subsidiary of Jumbo Capital Inc. Casey O’Brien and Connor Scott of Newmark provided financial analysis support for the deal.