CHICAGO — NelsonHill has brokered the sale of a 40,000-square-foot industrial building in Chicago for $2.6 million. Jeron Electronic Systems Inc. sold the property located at 1743 W. Rosehill Drive. Alan and Armand Candea of Candea Development purchased the building and entered into a sale-leaseback agreement with Jeron Electronics. Frank Melchert of NelsonHill represented the seller.
RIDGELAND, MISS. — Greg Duvall of NorthMarq Capital’s Kansas City regional office has arranged acquisition financing of $24.5 million for Arbors at Natchez Trace, a 328-unit multifamily property located at 715 Rice Road in Ridgeland, Miss. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. Property amenities include a fitness center, pool, tennis court, walking/biking trails, picnic area, laundry facilities and wheelchair accessible rooms.
MISSOURI CITY, TEXAS — HFF has brokered the sale of The Villas at Sienna Plantation, a 190-unit, Class A apartment complex within the Sienna Plantation master-planned community in Missouri City, a southwest suburb of Houston. HFF marketed the property on behalf of the seller, a joint venture between Watermark Residential and Murphy O’Brien. Sun Holdings Group purchased the asset for an undisclosed amount free and clear of existing debt. The Villas at Sienna Plantation is located at 8585 Sienna Springs Blvd. within Sienna Plantation, which is a 10,000-acre golf course community situated just off State Highway 6 in Missouri City. The community is 12 miles from Sugar Land, 18 miles from the Texas Medical Center and 23.5 miles southwest of downtown Houston. Completed in 2015, the two-story community spans 12 acres and includes one-, two- and three-bedroom floor plans averaging 1,103 square feet. Community amenities include a swimming pool, grilling area, fitness center, dog park, clubhouse, conference room and game room. Todd Marix, Todd Stewart, Chris Curry and JC Clemens led the HFF investment sales team representing the seller.
SCOTTSDALE, ARIZ. – A 17,711-square-foot facility in Scottsdale that houses the Arizona School of Real Estate & Business has sold to Arc Construction and MacDonald Development for $7.7 million. The school is located at 7142 E. 1st Street in the downtown region. The sale also includes an adjacent parking lot on 40,623 square feet of land. Bill Gray, the school’s original founder, was represented by Jon Rosenberg and Keri Davies of LevRose Commercial Real Estate.
PHOENIX – The Better Business Bureau (BBB) has purchased the McMurry Buildings in Phoenix for $4.3 million. The center is located at 1002-1010 E. Missouri Ave. It includes two office buildings with a total of 25,918 square feet. The space was previously occupied by McMurry/TMG, an online marketing, advertising and print publishing company. BBB was represented by Kevin Lange of Keyser. The seller, McMurry Properties, was represented by Bill Blake and Colton Trauter of Lee & Associates.
NEW YORK CITY — Cushman & Wakefield has brokered the fee position sale of a multifamily property located at 1080 Amsterdam Ave. in Manhattan’s Upper West Side. Mount Sinai St. Luke’s sold the fee position for $29.1 million to an undisclosed buyer. Constructed in 1932, the 20-story, 82,250-square-foot apartment building was leased in 2012 to a partnership of SL Green and Stonehedge, who have since completed a full gut-renovation of the entire property. The property is subject to a 99-year net lease that commenced in 2012. Hall Oster, Paul Massey Jr., Teddy Galligan and Andrew Berry of Cushman & Wakefield brokered the transaction.
SCOTTSDALE, ARIZ. — A joint venture between Security Properties and Intercontinental Real Estate has acquired the 539-unit Pillar at Scottsdale apartment community for $95.8M. The property is located at 17212 North Scottsdale Road in Scottsdale. The community was built in 1999. It is situated across from TPC Scottsdale, home of the PGA’s Waste Management Phoenix Open, as well as from the Fairmount Princess Resort. Pillar at Scottsdale was 96 percent occupied at the time of sale. The seller was Private Portfolio Group. The transaction was executed by CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch.
ENGLEWOOD, COLO. — CH2M has renewed its lease for a 370,485-square-foot office facility in the Denver submarket of Englewood. The space is located at 9191 S. Jamaica Street. The global engineering and project delivery company has leased the three-building property since 2007. This represented the largest office lease in Denver so far this year, according to Savills Studley, which represented CH2M. Monty Harris and Rob Link worked on behalf of the firm. The landlord, Columbia Property Trust, was represented by Jamie Gard and Jeff Castleton of Newmark Grubb Knight Frank.
PERRIS, CALIF. — IDI Gazeley has leased more than 1 million square feet at the Stratford Ranch development in Perris. The international home improvement retailer will occupy Building A of the development. The new space will serve as a storage, warehousing and distribution center for IDI Gazeley’s products. The firm was represented by Bill Heim and Michael Chavez of Lee & Associates. The landlord was represented by CBRE’s Joey Sugar.
HIGHLANDS RANCH, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $2.6 million sale of a newly constructed 3,798-square-foot Kneaders Bakery and Café in Highlands Ranch. Tom Ethington and Rob Edwards of Pinnacle represented the seller in the transaction.
