SAN MARCOS, CALIF. — Ccare has leased 20,230 square feet of medical office space at Nordahl Medical Centre in the San Diego submarket of San Marcos. The Class A building is located at 838 Nordahl Road. The space will serve as a clinic for Ccare’s oncology and hematology practice. Nordahl Medical Centre was developed by Newport National Corp. JLL’s Paul Braun, Chris Ross and Kelly Moriarty represented the landlord. CBRE’s Lars Eisenhaur and Dan Yeilding represented Ccare.
NEW YORK CITY — Bentall Kennedy has purchased The Addison, a high-rise multifamily property located at 225 Schermerhorn St. in Brooklyn. Waterton sold the 271-unit property for $154.2 million. Constructed in 2011, the property features a 26-story building and 15-story building with 65 studio, 117 one-bedroom and 89 two-bedroom units, with an average size of 715 square feet per unit. Additionally, the property features 6,610 square feet of ground-floor retail space and a 109-space parking garage. Andrew Scandalios, Rob Hinckley, Jeff Julien and Matthew Lawton of HFF represented the seller in the deal.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Windemere, an apartment property located at 2001 Wesley Drive in Arlington. A limited liability company acquired the 60-unit property for an undisclosed price. Built in 1980, the property features a mix of three floorplans with an average unit size of 797 square feet. Nick Fluellen, Bard Hoover and Evan Burke of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the deal.
ATLANTA — Sumitomo Corp. of Americas has closed its $222.5 million purchase of Atlanta Financial Center, a three-building, Class A office asset in Atlanta’s Buckhead district. The 914,774-square-foot property is located on Peachtree Road and sits directly atop the Buckhead MARTA station and has the GA 400 highway run directly underneath. Atlanta Financial Center was 85 percent leased at the time of sale to tenants such as SunTrust Bank and Morris, Manning and Martin. Situated blocks from Lenox Square mall and Phipps Plaza, the property includes a nine-level parking garage with 2,335 parking spaces. Sumitomo Corp. of Americas, a New York-based subsidiary of global Japanese investment firm Sumitomo Corp., plans to upgrade Atlanta Financial Center’s common areas, amenities and building systems and equipment, as well as re-landscape an on-site park. Eastdil Secured brokered the sale.
BRIDGEVIEW, ILL. — Darwin Realty has arranged the sale of 9900 Industrial Drive in Bridgeview, about 17 miles southwest of Chicago. Welch Packaging Group Inc., a manufacturer of corrugated packaging, purchased the 215,000-square-foot building. The sales price was not disclosed. Welch will relocate from Countryside to the former crane facility to support its expanding Chicagoland operations. The facility offers heavy power, land for trailer parking and is located immediately off I-294. Welch also plans to add additional improvements to the building. Noel S. Liston and Kevin D. Cooney of Darwin Realty represented Welch in the transaction. Jeff Locascio of Transwestern represented the undisclosed seller.
BENSENVILLE, ILL. — Liberty Property Trust has acquired a five-acre industrial site in Bensenville in the O’Hare Airport metro area. Liberty plans to redevelop the site beginning in early 2017. The property is located at 350 N. York Road and includes a 60,000-square-foot building, which Liberty plans to replace with a 96,962-square-foot, high-efficiency building. Features will include 32-foot clear heights, 20 exterior docks and two drive-in doors. Shell completion of the $11.6 million project is expected to be completed in the third quarter of 2017. Matt Neumann of Liberty, along with Steve Stone and Eric Fischer of Cushman & Wakefield, will handle the leasing of the property.
LOS ANGELES — A joint venture between Angelo, Gordon & Co. and Lincoln Property Co. has purchased LNR Warner Center IV, a 510,105-square-foot office property in the Los Angeles submarket of Woodland Hills, for $147 million. The property includes two Class A office buildings, as well as a 0.88-acre land parcel that can accommodate a 7,500-square-foot retail building. LNR Warner Center IV is located at 21255 and 21215 Burbank Blvd. It is the newest phase in LNR Warner Center’s four-phase, master-planned office campus, which includes 1.3 million square feet in seven office buildings. Notable tenants include Activision, New York Life Insurance, Wells Fargo, United Online and Kaiser Permanente. Kevin Shannon, Ken White, Rob Hannan and Laura Stumm of NGKF Capital Markets, along with JLL’s Dan Sanchez, represented both the buyer and seller in this transaction. David Milestone and Scott Selke of NGKF Capital Markets arranged acquisition financing on behalf of the buyers.
SAN FRANCISCO — A joint venture between Kennedy Wilson and the Takenaka Corp. has purchased a 247,000-square-foot office tower in San Francisco for $135 million The Class A building is located at 400 and 430 California St. The sale includes a 27,000-square-foot bank branch. MUFG Union Bank is both the seller and the sole occupant of the property. The company will lease the property and vacate the tower over the next two years on a staggered basis. It will vacate the bank branch after four years. The tower will also undergo a complete interior renovation. James Andrew International represented Takenaka in this transaction.
BOSTON — Related Beal through Related Real Estate Fund II has acquired a research and development facility located at 27 Drydock Ave. in Boston’s Seaport District for an undisclosed price. The building was purchased through the assumption of an existing long-term ground lease from Zoom Group LLC. At the time of sale, the 286,000-square-foot building was 84 percent occupied by healthcare, pharmaceutical and technology companies, including Dana Farber Cancer Institute, Ginkgo Bioworks, InviCRO, Emulate Inc. and 908 Devices.
TAMPA, FLA. — Continental Realty Corp. has purchased The Grand Reserve at Tampa Palms, a 390-unit apartment community located at 16616 Palm Royal Drive in Tampa. The Baltimore-based real estate investment firm acquired the asset from PGIM Real Estate for $65.5 million on behalf of Continental Realty Fund IV LP, which is focused on acquiring value-add retail and multifamily properties in the Mid-Atlantic and Southeast regions. Constructed in 1999 on approximately 41 acres, The Grand Reserve is a gated community comprised of 15 three-story garden buildings that feature one-, two-, three- and four-bedroom floorplans ranging from 890 to 1,800 square feet. The property is located within the master-planned community of Tampa Palms and features a clubhouse with a health and fitness facility and resident lounge; an outdoor pool, sundeck and Jacuzzi; screened outdoor kitchen area; sand volleyball pit; lighted tennis and basketball courts and a children’s playground. Individual storage units and a car care center are also integrated within the residential community. Greg Engler, Pat Jones and Chris Chadbourne of Walker & Dunlop Investment Sales represented PGIM Real Estate in the sale.
