MELBOURNE, FLA. — CBRE Group Inc has negotiated the sale of Northrop Grumman Engineering Facility, a 107,4190 square-foot, single-tenant office building located at 3990 S. Babcock St. in the Orlando suburb of Melbourne. CBRE’s Ron Rogg and Chip Wooten represented the seller, BH Properties, in the transaction. California-based Rich Uncles NNN REIT acquired the property for approximately $13.3 million.
CLEARWATER, FLA. — Marcus & Millichap has arranged the $3.6 million sale of New Towne at Glen Oaks, a multifamily property located at 311 S. Betty Lane in Clearwater, a city in the Tampa-St. Petersburg area. The community consists of 38 one-bedroom units averaging 570 square feet per unit, and eight two-bedroom units averaging 800 square feet per unit. Shawn Rupp and Casey Babb of Marcus & Millichap represented the undisclosed seller and procured the unspecified, California-based buyer.
SAN FRANCISCO — An unnamed buyer has acquired a 38-unit apartment building in San Francisco for $31.8 million. The community is located at 2201 Pacific Ave. Edward E. Young designed the property, which features a Spanish Colonial-themed lobby with a vaulted wood ceiling and gold and copper leaf design. James Devincenti and Brad Lagomarsino of Colliers International arranged the sale on behalf of Union Bank’s Trust Department, which represents the buildings’ outgoing ownership entity.
SPRINGFIELD, ORE. — JLL has arranged the sale of Shoppes at Gateway, an 821,564-square-foot shopping center in Springfield, for an undisclosed price. Target, Walmart Neighborhood Market, Cabela’s, Kohl’s, Cinemark and Sears anchor the center, which is also home to tenants including Marshalls, Ross Dress for Less, Petco, Ulta Beauty, Hobby Lobby and Ashley Furniture. David Monahan and Geoff Tranchina of JLL represented the seller, Rouse Properties LLC, in the disposition of the property to an affiliate of Balboa Retail Partners.
EDEN PRAIRIE, MINN. — CBRE has arranged the sale of Crosstown Corporate Center in Eden Prairie, 12 miles southwest of Minneapolis, for $8.2 million. The 59,487-square-foot building is located at 6385 Old Shady Oak Road. Built in 1999, the Class A building consists of two stories. Altus Property Investments LLC was the buyer. Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz of CBRE arranged the sale on behalf of the seller, a Boston-based commercial real estate private equity fund manager.
GRAND RAPIDS, MICH. — Grand Rapids Surgical Suites has signed a 6,936-square-foot lease for its ambulatory surgical center in Grand Rapids. The building is located at 2505 East Paris Ave. along the East Paris medical corridor. Grand Rapids Surgical Suites is a partner of SurgCenter Development, a corporation that partners with local surgeons to create physician-owned and operated ambulatory surgical centers. Mary Anne Wisinski-Rosely and Jason Makowski of NAI Wisinski brokered the lease transaction.
CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of Clear Sky Retail Center, a 9,717-square-foot property located at 1805 S. Padre Island Drive in Corpus Christi. Built in 2003, the center is situated on nearly one acre and was 100 percent occupied at the time of sale to tenants such as GameStop, Ace Cash Express and Sally Beauty Supply. Philip Levy of Marcus & Millichap represented the seller, an unspecified developer, and procured the buyer, a private investor.
CYPRESS, TEXAS — An affiliate of United Equities Inc. has sold Fry-529 Retail Center, a 115,000-square-foot retail center in Cypress, a northwestern suburb of Houston. The buyer was undisclosed. Anchored by Fiesta Mart and Goodwill Select Stores, the center was 98 percent occupied at the time of sale.
ATLANTA — CBRE has arranged the $36 million sale of 10 Perimeter Park, a 230-unit multifamily development in Chamblee, a northeastern suburb of Atlanta. Shea Campbell and Kevin Geiger of CBRE represented the seller, California-based Ardena Capital Management. The buyer, Aududon Communities, an Atlanta-based firm specializing in multifamily acquisitions, obtained the property by assuming the existing loan and sourcing a supplemental one.
WESTPORT, CONN. — David Fugitt of Westport-based Vidal/Wettenstein LLC has arranged the $2.6 million sale of 18-26 Imperial Ave. located in downtown Westport. The property is a fully leased five-building medical complex with a total of 7,428 rentable square feet. Amalgamated Realty Company LLC was the seller and Greens Farms Centre Associates was the buyer. Fugitt was the sole broker involved in the transaction.
