sales_and_leases

LOS ANGELES — Intercontinental Real Estate Corp. has purchased Apollo at Rosecrans, a 546,833-square-foot creative office campus in the Los Angeles submarket of El Segundo, for an undisclosed sum. The four-building, 13-acre campus is located at 2150, 2120, 2121 and 2175 Park Place, along the Rosecrans Corridor, a hotspot for tech and creative companies. Apollo at Rosecrans is 98 percent leased. Amenities include concrete floors, African Mahogany accent panels, LED strip accent lights, a basketball court, dog park, biking and walking trails, shower facilities and an outdoor fireplace. NGKF’s Kevin Shannon and CBRE represented the sellers, Invesco Real Estate and Second Street Ventures, in this transaction.

FacebookTwitterLinkedinEmail

GLENDALE, ARIZ. — CBRE has arranged the $10 million sale of Shops at Arrowhead Gateway, a 35,684-square-foot shopping center located on an outparcel of Arrowhead Towne Center Mall in Glendale. Steve Julius and Jesse Goldsmith of CBRE negotiated the transaction on behalf of the buyer, NLT Properties LLC. Chad Tiedeman and Steve Underwood of Phoenix Commercial Advisors represented the seller, FPWL Bell and 75th LLC, in the transaction. The 95 percent-occupied property is home to tenants including Red Mountain Weight Loss, iRepair Plus, Salon Boutique and Merle Norman. The center is also home to a medical component, with tenants including IMS Urologist, IMS Allergist, Noah’s Ark Pediatrics and Desert Valley Dental.

FacebookTwitterLinkedinEmail
112-120-E-11th-St-NYC

NEW YORK CITY — Rosewood Realty Group has brokered the sale of a six-building multifamily portfolio in Manhattan’s East Village. Lightstone Group acquired the 181-unit residential portfolio from Pan Am Equities for $130 million. The properties are a six-story, 106-unit building at 85 E. 10th St., and five five-story buildings totaling 75 units at 112-120 E. 11th St. Aaron Jungreis of Rosewood Realty Group represented the buyer and seller in the deal.

FacebookTwitterLinkedinEmail

LOS ANGELES — Blueprint Post Production has purchased a 60,087-square-foot office complex in the North Hollywood submarket of Toluca Lake for $13 million. The complex is located at 4142, 4144 and 4146 Lankershim Blvd. The three buildings were constructed in 1977, 1964, and 1987, respectively. They are adjacent to Universal City, near NBC Universal and CBS Paramount, as well as the 101 and 170 freeways. Stacy Vierheilig-Fraser of Charles Dunn Co. represented the post-production services company. Vierheilig-Fraser also represented the seller, Lankershim Media Center Associates, an entity of LS Capital.

FacebookTwitterLinkedinEmail

POMONA, CALIF. — Marcus & Millichap has arranged the sale of Foothill Square, a 123,127-square-foot shopping center located in the Los Angeles suburb of Pomona, for an undisclosed price. David Ridgway of Marcus & Millichap represented the seller, a private limited family partnership, and Ridgway and Dimitry Orlov, also of Marcus & Millichap, represented the buyer, Reliable Properties, in the transaction. Superior Grocers and O’Reilly Auto Parts anchor the center, which is also home to tenants including Chase Bank and Carl’s Jr.

FacebookTwitterLinkedinEmail

AURORA, COLO. — Matthews Retail Advisors has arranged the $4 million sale of Quincy Corners, a 15,765-square-foot shopping center located in the Denver suburb of Aurora. Patrick Toomey of Matthews represented the seller, Spirit Realty Capital, in the sale of the property to a private local investor. The Big 5 Sporting Goods-anchored center is fully occupied.

FacebookTwitterLinkedinEmail

LIBERTYVILLE, ILL. — All American Containers of the Midwest has signed a long-term industrial lease for a 51,624-square-foot space at Bridge Point 94 Building 1 in Libertyville, approximately 40 miles northwest of Chicago. The lease brings the facility, located at 851-899 E. Park Ave., to 49 percent occupancy. Bridge Development Partners LLC, which delivered the building in the summer of 2015, is the landlord. All American Containers of the Midwest is expanding from a current location in Lake Forest, Ill. Keith Puritz of Avison Young, as well as Rob Wheeler, Juan Rodriguez and Sky Groden of Cresa, represented the tenant in the transaction. John Hauser, Michael Fonda and Hugh Williams of Avison Young represented Bridge Development.

FacebookTwitterLinkedinEmail
WashingtonHeights-NYC

NEW YORK CITY — Eastern Consolidated has arranged the sale of a portfolio of nine mixed-use, elevator-serviced buildings in Manhattan’s Washington Heights neighborhood. WHP LLC acquired the portfolio, which totals 487,700 square feet, from Intervest Development Corp. for $165 million. Located on major corridors between W. 164th and W. 192nd streets, the portfolio consists of 413 apartments, of which 70 percent contain two or more bedrooms; 48 street-level retail stores; two professional offices; and one rooftop antenna. Marcia Rose Yawitz, Ron Solarz and Wade Hazelton of Eastern Consolidated represented the seller and procured the buyer in the deal.

FacebookTwitterLinkedinEmail
200-town-center-blvd-garland-texas-panera-bread

GARLAND, TEXAS — InvestCore Commercial has brokered the $3.2 million sale of a 4,315-square-foot retail building in Garland, which is triple-net leased to Panera Bread. The 0.9-acre pad is located at 200 Town Center Blvd., directly adjacent to an In-N-Out Burger. The eatery is situated at the entrance to Firewheel Town Center, a more than 1 million-square-foot shopping center owned by Simon Property Group. Panera Bread opened on Feb. 8. The fast-casual bakery-café holds a 15-year ground lease, with three, five-year renewal options. Rent schedules include increases of up to 7.3 percent. An out-of-state investor purchased the asset from Next Play Firewheel LLC in an all-cash, 1031 tax-deferred exchange transaction. The deal closed at a 4.25 percent cap rate. Michael Campbell and Ed Colson of InvestCore Commercial represented the seller.

FacebookTwitterLinkedinEmail
Coastal North Town Center North Myrtle Beach

NORTH MYRTLE BEACH, S.C. — Inland Real Estate Income Trust Inc. has purchased the 311,313-square-foot Coastal North Town Center in North Myrtle Beach. According to Inland’s federally mandated quarterly report, the sales price was $72.4 million and the company borrowed from its credit facility to fund a portion of the acquisition. Constructed in 2014, the shopping center was 93.5 percent leased at the time of sale to tenants such as Publix, Hobby Lobby, Dick’s Sporting Goods, Ulta Beauty, PetSmart, T.J. Maxx, Ross Dress for Less, Rack Room Shoes, Mattress Firm and several restaurants. Mark Cosenza of Inland Real Estate Acquisitions Inc. facilitated the purchase of the property on behalf of Inland Income Trust. The seller was undisclosed.

FacebookTwitterLinkedinEmail