KEASBEY, N.J. — Cushman & Wakefield has brokered the sale of a 302,500-square-foot industrial facility in Keasbey. The sales price was undisclosed. Located at 19 Crows Mill Road, the property features 50-by-72 foot column spacing as well as an on-site truck repair shop. A Cushman & Wakefield team of New Jersey industrial specialists represented the seller, Lefcourt Associates, in the transaction. The buyer was Liberty Property Trust. Cushman & Wakefield also secured a long-term, full-property lease with Gilbert Co., which will take occupancy in the first quarter of this year.
EATONTOWN, N.J. — Stafford Smith Realty has arranged the $4.4 million sale of Tower Market Shopping Center in Eatontown. Located at 37 Highway 35, the 23,000-square-foot, fully leased shopping center is anchored by Dollar General. Ray Smith of Stafford Smith Realty represented the seller, Eatontown Commons Associates, in the transaction. The buyer was Binyan Partners of New York. A façade renovation is planned as well as further upgrades.
LAS VEGAS — City Sunstone Properties has completed the sale of Blue Diamond Marketplace, a neighborhood retail center located at 8030-8180 Blue Diamond Road in Las Vegas. A company advised by CenterSquare Investment Management acquired the property for an undisclosed price. At the time of sale, the six-building property was 100 percent occupied. Tenants at the 71,651-square-foot center include Auto Zone, 7-11, Taco Bell, Great Clips, Bank of America, Cricket Wireless, State Farm, Babystacks Café, Capriotti’s Sandwich Shop and Rounders Pub. Michael Zobrist, Nelson Tressler and Scott Price of Newmark Knight Frank represented the seller in the deal.
YUMA, ARIZ. — Orion Investment Real Estate has arranged the sale of a restaurant property, located at 590 E. 16th St. in Yuma. Edwards Corral LLC sold the property to an undisclosed buyer for $4.1 million, or $413 per square foot. Golden Corral Buffet & Grill has occupied the 10,015-square-foot property since mid-2004. Judi Butterworth of Orion represented the seller in the transaction.
FARMINGVILLE, N.Y., SMITHFIELD, R.I., AND HERNDON, VA. — Washington D.C.-based real estate investment firm Excel Group has acquired three hotel properties in New York, Rhode Island and Virginia. The price and seller were not disclosed. The properties are the 161-room Hampton Inn Long Island Brookhaven in Farmingville; the 101-room Hampton Inn & Suites Providence-Smithfield in Smithfield; and the 151-room Hyatt Place Dulles Herndon-East in Herndon.
SEATTLE — HFF has arranged $32.5 million in financing for the acquisition of the Original Rainier Brewery, a mixed-use campus located at 5624-6004 Airport Way South in Seattle’s historic Georgetown neighborhood. Tom Wilson and Zachary Kersten of HFF secured a three-year, floating-rate loan with two one-year extension options with a debt fund for the borrower, ScanlanKemperBard. The borrower plans to make improvements to the property. Originally built in the early 1990s as a brewery for Seattle Brewing and Malting Co., the property eventually housed Rainier Beer and is a designated landmark. The campus encompasses four separate buildings — the Bottling Plant, the Malt House, the Warehouse and the General Office — and two land parcels. The assets feature natural light, exposed brick, original flooring, historical detailing and unique layouts. At the time of financing, the property was 92 percent leased to 55 tenants, including REI, Patagonia, Keen, Elysian Brewing Co., Frans Chocolate and Kyoto Art and Antiques.
AURORA, COLO. — Unique Properties has negotiated the sale of The Forum, an office building located in Aurora. An undisclosed buyer acquired the property for $14.2 million, or $82.04 per square foot. Located at 14001 E. Illiff Ave., the property features 174,622 square feet of office space. At the time of sale, the building was 76 percent occupied. The Lippitt/Shwayder Team of Unique Properties represented the undisclosed seller, while Newmark Knight Frank represented the buyer in the deal.
LAKE ELSINORE, CALIF. — SRS Real Estate Partners’ National Net Lease Group has arranged the sale of a single-tenant retail property located at 16810 Lakeshore Drive in Lake Elsinore. A partnership specializing in the ownership of net-lease properties sold the asset to an undisclosed Southern California buyer for $3 million, or $1,957 per square foot. Del Taco occupies the 1,558-square-foot building with 12.5 years remaining on its corporate-guaranteed, 15-year, absolute triple-net lease. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease Group represented the seller, while Chris Itule of Itule Real Estate Group represented the buyer in the all-cash transaction.
NEW YORK CITY — Hodges Ward Elliott has brokered the $43.8 million sale of a 20-story multifamily tower in the South Williamsburg neighborhood of Brooklyn. Located at 424 Bedford Ave., the 63,866-square-foot property includes 66 units. Amenities include a fitness center, gardens, BBQ area, dog run and a rooftop deck. Will Silverman, Paul Gillen, Daniel Parker and Ariel Tambor of Hodges Ward Elliott represented the seller, East End Capital and KBS, in the transaction. The buyer was Global Holdings Group.
BRIDGEWATER, N.J. — HFF has negotiated the sale of the Hyatt House Bridgewater in the central New Jersey community of Bridgewater. Located at 530 Route 22 East, the hotel comprises one two-story building and five three-story buildings. Amenities include a guest market, fitness center, outdoor swimming pool and hot tub, fire pit and 1,500 square feet of meeting space. Daniel C. Peek, Denny Meikleham, Alan Suzuki, KC Patel, Matthew Enright and Kevin O’Hearn of HFF represented the seller, an institutional investor, in the transaction. HFF also secured a seven-year, fixed-rate acquisition loan for the buyer, Gulph Creek Hotels.