IRVINE, CALIF. — CPT Group has purchased a 14,208-square-foot corporate headquarters building in Irvine for $5.3 million. The building is located at 50 Corporate Park. CPT Group was looking for a new headquarters with a significant amount of parking. The class-action settlement administration company will occupy the new space in the first quarter of 2017. Chuck Hardy of Lee & Associates represented CPT, while the firm’s John Collins represented the seller, North Tustin Investment Group LLC.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has negotiated the lease of 114,844 square feet of industrial space in Milwaukee. Southern Star Buske LLC, a limited liability company, will occupy the industrial/office space at 7501 N. 81st St. TJ Huenerbein of the Dickman Co. represented the tenant. Jeff Hoffman of The Boerke Co. Inc. represented the landlord, WMI Milwaukee LLC.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a 13-buildng multifamily portfolio located in Manhattan’s Inwood section. A private real estate investor acquired the portfolio from the long-term private owner for $63.6 million. The portfolio consists of 13 five-story walk-up buildings located on Sherman, Post and Vermilyea avenues and Academy Street. The properties offer a total of two retail stores and 359 residential units in a mix of 93 one-bedroom, 210 two-bedroom, 51 three-bedroom and five superintendent units. Ron Solarz and Matthew Sparks of Eastern Consolidated represented the seller and procured the buyer. Gary Meese, also of Eastern Consolidated, was the analyst for the transaction.
NEWINGTON, CONN. — Ebben Realty has purchased Stonegate Apartments in Newington for $6.8 million, or $114,166 per unit. The property features 20 one-bedroom units and 40 two-bedroom units ranging in size from 950 square feet to 1,043 square feet. Rick Chozick and Steve Pappas of Chozick Realty Brokers represented the seller, Rowaban Holdings, and procured the buyer in the transaction.
UNION, N.J. — Bridge Development Partners has completed the disposition of Bridge Point Port West, an industrial building located at 750 Union Ave. in Union. A fund managed by J.P. Morgan acquired the 263,415-square-foot property for $46.5 million. Completed in 2015, the building features 36-foot clear heights, 55-foot column spacing, 50 loading doors, ESFR sprinkler systems, T-5 lighting and on-site parking for 150 trailers. At the time of sale, the property was fully leased to Boxed.com and Union Beverage Packer. Brian Fiumara, Michael Hines and Brad Ruppel of CBRE represented the seller, while Nick Firth provided in-house representation for the buyer.
SAN ANTONIO — Preferred Real Estate Investments has purchased 151 Technology, a two-building office complex located on 15 acres in San Antonio. Corporate Office Properties Trust sold the property for an undisclosed price. Totaling 122,093 square feet, the complex consists of one fully leased building and one vacant building. The asset was 62 percent occupied at the time of closing. Peloton Commercial Real Estate has been retained to lease and manage the property.
WEST ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of Emerson Hill in West St. Paul for $4.8 million. The 35-unit apartment community is located at 993 Robert St. South. Mox Gunderson, Dan Linnell and Josh Talberg of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also represented the buyer, a private investor.
ATLANTA — GLL Real Estate Partners has purchased The Forum at West Paces, a nine-story, 220,000-square-foot office tower located at 3290 Northside Parkway in Atlanta’s Buckhead submarket. The Munich-based real estate fund management group bought the Class A asset from Atlanta-based Cousins Properties for an undisclosed price. Built in 2001, The Forum at West Paces was 96 percent leased at the time of sale to tenants including healthcare and financial institutions, wealth managers, attorneys, investment funds and other professional services. The building features tenant balconies on every floor, onsite security, a fitness center and an adjacent five-story parking garage. CBRE’s Atlanta office represented Cousins Properties in the transaction.
MELBOURNE, FLA. — Passco Cos. has purchased Marisol at Viera, a 282-unit multifamily community located at 2439 Casona Lane in Melbourne, from Pollack Shores Real Estate Group for $50.3 million. The Class A property is situated within Viera, a 22,000-acre master-planned development in Brevard County. Marisol at Viera features two poolside bars and outdoor kitchens, a private club and amenities deck, clubroom and TV lounge, 6,500-square-foot dog park with an outdoor grooming station and electric car charging stations. Ken Delvillar and Jay Ballard of Cushman & Wakefield represented both Passco Cos. and Pollack Shores in the transaction. Chris Black of KeyBank Real Estate Capital arranged acquisition financing through Fannie Mae on behalf of Passco.
GAINESVILLE, TEXAS — Pierson Retail Advisors has arranged the sale Gainesville Factory Stores, an outlet mall located in Gainesville. A private investor sold the 315,725-square-foot property to a local buyer for an undisclosed price. Pierson Retail Advisors represented the seller in the deal.
