NEW YORK CITY — A partnership between locally based investment firm Taconic Partners, global asset manager Nuveen Real Estate and Flatiron Equities has acquired 309-324 East 95th Street in Upper Manhattan for $70 million. The property was originally constructed in 1927 as a manufacturing facility but was repurposed in the 1980s. The site now houses a five-story office building that connects with a two-story garage. Barry Goodman of Newmark represented the partnership in the transaction. The seller was not disclosed. Potential redevelopment plans are currently being evaluated.
CARLSBAD, CALIF. — Miramar Capital has purchased Aston Views, a freestanding office/flex building located at 1808 Aston Ave. in Carlsbad. MCR Aston LLC sold the property for $20 million. Built in 2001 on 8.7 acres, the two-story Aston Views features 82,972 square feet of space. At the time of sale, the property was 90 percent leased. Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets team represented the seller in the deal. Justin Halenza and Michael Mahoney, also of Cushman & Wakefield, provided leasing advisory.
AURORA, ILL. — Marcus & Millichap has brokered the sale of a 98,765-square-foot retail center in Aurora for $5 million. Located at 1901 W. Galena Blvd., the property features a mix of retail and medical tenants. Rush-Copley Medical Center, which specializes in family medicine, imaging and obstetrics and gynecology, anchors the center. There is 23,751 square feet available for lease. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local fund manager. The duo also secured the buyer, an Iowa-based limited liability company.
RIVERDALE AND LITHONIA, GA. — Berkadia has arranged the $108.5 million in combined sales of Legacy at Riverdale and The Quarry, two garden-style multifamily properties located in Riverdale and Lithonia, respectively. Matt White, Paul Vetter, Andrew Mays and Judy MacManus of Berkadia completed the sale of Legacy at Riverdale on behalf of the West Coast-based seller. The buyer was based in the Midwest. The same Berkadia team also completed the sale of The Quarry on behalf of the Midwest-based seller. The buyer was based on the West Coast. Located at 6603 Church St. in Riverdale, Legacy at Riverdale offers studio, one-, two- and three-bedroom floorplans. The property is situated 2.1 miles from Southern Regional Medical Center and 14.3 miles from downtown Atlanta. Located at 421 Meadowood Drive in Lithonia, The Quarry offers two- and three-bedroom floor plans that average nearly 1,250 square feet in size. Community amenities include a swimming pool, fitness center, business center, clubhouse, laundry facilities and a playground. The property is situated 2.1 miles from Emory Hillandale Hospital and nearby retailers such as The Home Depot and Publix.
BUFORD, GA. — JLL Income Property Trust has acquired Friendship Distribution Center, a newly constructed, four-building industrial portfolio in Buford totaling nearly 650,000 square feet. The sales price was $95 million. The seller was not disclosed. The four buildings at Friendship Distribution Center are located at 4651, 4627, 4630 and 4646 Distribution Parkway, and are situated about 1.7 miles from Interstate 985. The portfolio is located about 40.7 miles north of downtown Atlanta in Gwinnett County. Friendship Distribution Center was 96 percent leased at the time of sale to five tenants, with a weighted average lease term of approximately six years. The five tenants were not disclosed.
TULSA, OKLA. — Stan Johnson Co., a retail net-leased brokerage firm based in Tulsa, has arranged the sale of a trio of national single-tenant portfolios for $75.5 million. The portfolios consist of 40 properties across seven states that are leased to tenants such as Tractor Supply Co., Dollar General and Advance Auto Parts, among others. Ryan Butler of Stan Johnson Co. represented the undisclosed seller in the off-market transactions. The buyers were also not disclosed.
SANTA CLARITA, CALIF. — Affiliates of Covington Group, along with an institutional capital partner, have acquired Saugus Station Industrial Center, a portfolio of buildings totaling 1 million square feet of industrial space in Santa Clarita. Situated on 69.5 acres, the 24-building complex offers varying clear heights up to 39 feet and units ranging in size from 8,000 square feet to 133,000 square feet. At the time of purchase, the property was 100 percent occupied. The acquisition also includes a separate, 24-acre, fully horizontally improved land site. Covington plans to implement a property and asset management strategy that will focus on tenant retention and aesthetic improvements to the property to increase curb appeal. Craig Peters and Doug Sonderegger of CBRE represented the buyer and seller in the deal. Terms of the transaction were disclosed.
NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has agreed to sell its ownership interest in the office condos and parking garage at 110 East 42nd Street in Midtown Manhattan for $117 million. SL Green is selling its stake, the size of which was not disclosed, to Meadow Partners in a deal that is expected to close before the end of the year. The office condos, which comprise a portion of the ground floor and the sixth through 18th floors, were originally built in 1923. The property is located across from Grand Central Station and One Vanderbilt, SL Green’s 1.7 million-square-foot office skyscraper. The locally based investment and development firm previously sold the office condos in 2007 and regained control of that component of the site in 2011. SL Green acquired the garage in 2013.
BLUE ASH, OHIO — OA Development has sold Hawthorne Center in the Cincinnati suburb of Blue Ash for $26.5 million. Acquired in 2012, Hawthorne Center is a five-story, Class A office building totaling 135,413 square feet. Belcan LLC, a global supplier of engineering, supply chain, technical recruiting and IT services, fully occupies the property. Cushman & Wakefield represented OA in the sale. The buyer was undisclosed.
DURHAM, N.C. — New York-based Oxford Properties Group has acquired Research Commons, a life sciences campus within Research Triangle Park in Durham, as well as an adjacent parcel located at 78 TW Alexander Drive for a total of $158.6 million. By combining the two sites and building three new life sciences facilities totaling 510,000 square feet, Oxford plans to ultimately develop a 940,000-square-foot innovation campus that will house various life sciences firms. The construction timeline was not disclosed. Located at 79 TW Alexander Drive, Research Commons is a 430,000-square-foot, five-building campus with an additional 18 plus acres of developable land. The existing campus is well-leased to a diverse tenant roster across life sciences industries, and is anchored by Grifols, a Los Angeles-based global pharmaceutical manufacturer. At this site, Oxford plans to use the more than 18 acres of vacant land for the development of two dedicated life sciences buildings. Additionally, the firm plans to convert two existing buildings wholly to life sciences tenants as vacancies materialize. For 78 TW Alexander Drive, Oxford plans to build a 95,500-square-foot Current Good Manufacturing Practice (cGMP) facility to be developed on the 14.5-acre parcel of land adjacent to Research Commons.