sales_and_leases

HFF Closes Sale, Secures Financing for New Jersey Industrial Facility

by Amy Works March 3, 2015

EDISON, N.J. — HFF has brokered the sale of an industrial facility located at One Truman Drive South in Edison. IC/L-A One Truman Drive LLC, wholly owned by affiliates of Lubert-Adler Partners, sold the 369,313-square-foot property to Cohen Asset Management Inc. and institutional investors advised by J.P. Morgan Asset Management – Global Real Assets. In addition to marketing the property on behalf of the seller, HFF arranged a fixed-rate acquisition loan through Principal Real Estate Investors for the buyers. Michael Nachamkin, Jose Cruz and Robert Borny of HFF represented the seller in the transaction. Jon Mikula and Michael Klein, also of HFF, secured the financing for the purchaser.

March 3, 2015

District of Columbia Mixed-Use Retail Southeast

AFIAA Purchases Arch Square in D.C.’s East End for $104.3M

by John Nelson March 3, 2015

WASHINGTON, D.C. — AFIAA, the investment foundation of 35 Swiss pension funds, has purchased Arch Square, a mixed-use building in Washington, D.C.’s Chinatown neighborhood, for roughly $104.3 million. The 54,896-square-foot property was built before World War II and refurbished in 2012. The property features retail space on the first two floors and office space on the top two floors. The office space is leased to the Alliance of Automobile Manufacturers, and the property’s retail tenant roster includes Walgreens, Sports Zone Elite and Panera Bread. Arch Square is located less than one mile from the White House at the corner of 7th and H streets in Washington, D.C.’s East End submarket.

March 3, 2015

Industrial Northeast Pennsylvania

R.R. Donnelley Sells 370,000 SF Industrial Building in Pennsylvania

by Amy Works March 2, 2015

BLOOMSBURG, PA. — R.R. Donnelley has completed the disposition of its 370,000-square-foot industrial building located in Bloomsburg. Sekisui Polymer Innovations LLC purchased the facility for an undisclosed price. Situated on 56.63 acres at 4411 Old Berwick Road, the property features 26-foot ceiling heights, T-8 fluorescent lighting, a wet sprinkler system, 10,500 square feet of office space, 16 dock doors with levelers and seals, two drive-in doors and parking for 480 vehicles. Michael Treacy of Binswanger and Berwick Industrial Development Association brokered the transaction on behalf of R.R. Donnelley.

March 2, 2015

California Industrial Western

American Realty Advisors Buys Santa Fe Springs Industrial Complex

by Nellie Day March 2, 2015

LOS ANGELES – American Realty Advisors has acquired Shoemaker Distribution Center, a 175,000 square-foot warehouse space in the Los Angeles submarket of Santa Fe Springs, for an undisclosed sum. The space is located at 15050-15066 Shoemaker Ave. It is fully leased to tenants like J.B. Hunt Transport Services, Altaquip LLC, Pacific Diving Academy USA Inc., Spartech Corporation and Sysonic USA. American Realty Advisors represented itself in this acquisition. The seller, an entity controlled by Lincoln Property Company, was represented by CBRE’s Barbara Emmons, Darla Longo, Rebecca Perlmutter and Laird Perkins.

March 2, 2015

California Office Western

ValueRock Buys Mission Viejo Garden Plaza for $13.3M

by Nellie Day March 2, 2015

MISSION VIEJO, CALIF. – ValueRock Realty Partners has acquired Mission Viejo Garden Plaza, a 67,000-sqiare-foot office and retail property in the Orange County submarket of Mission Viejo, for $13.3 million. The center is located at the northwest corner of La Paz Road and Marguerite Parkway. The space was built in 1975 and renovated in 2009. Peter D. Beauchamp, Brian Corrigan, and Mark Sigler of Voit Real Estate Services represented both ValueRock and the unnamed seller in this transaction.

March 2, 2015

California Office Western

Alta Medical Center in Upland Sells for $5.5M

by Nellie Day March 2, 2015

UPLAND, CALIF. – Alta Medical Center, a 24,212 square foot medical property in Upland, has sold to Elat Properties for $5.5 million. The center is located at 1113 Alta Ave. The center is currently 93 percent leased. About 34 percent of its current leases will expire in the next few years. The space was built in 1989. CBRE’s Bryan Lewitt, John Oien, and Chris Isola represented both the buyer and the seller, Alta Investment Properties LLC, in this transaction.

March 2, 2015

Multifamily Texas

San Antonio Commercial Arranges Sale of Cotton Crossing Apartments

by Haisten Willis March 2, 2015

NEW BRAUNFELS, TEXAS — San Antonio Commercial Advisors, a member of the Cushman & Wakefield Alliance, has arranged the sale of Cotton Crossing, a 118-unit, Class A apartment complex located in New Braunfels. Brandon Lo Porto and Scott Weems or San Antonio Commercial represented the buyer, a California-based private investor, and the seller, a Kentucky based partnership.

March 2, 2015

Georgia Office Southeast

Regent Partners Finds Buyer for ‘King’ and ‘Queen’ Towers in Atlanta

by John Nelson March 2, 2015

ATLANTA — Atlanta-based Regent Partners has entered into an agreement with Stamford, Conn.-based Building and Land Technology to sell the “King” and “Queen” office buildings in Atlanta’s Central Perimeter submarket. The two towers are located in the 2.2 million-square-foot Concourse Corporate Campus, a mixed-use business park located at the confluence of I-285, Georgia 400, Hammond Drive and Peachtree Dunwoody Road. The Atlanta Business Chronicle is reporting that the deal could fetch $480 million to $500 million. Regent Partners, along with its investment partners, purchased Concourse Corporate Center in October 2012 for roughly $312 million.

March 2, 2015

Mixed-Use New York Northeast

Dalan Management, RWN Real Estate Partners Buy NYC Midtown Ground Lease for $47M

by Amy Works February 27, 2015

NEW YORK CITY — Dalan Management has partnered with RWN Real Estate Partners to purchase the long-term leasehold of The Indigo in Midtown East for $47 million. Located at 230 East 44th St., the 14-story, 135,315-square-foot building features 164 residential units, the Piccolo Fiore restaurant, Pink Blossom Nail Salon and a 25,000-square-foot parking garage. The buyers acquired the leasehold interest in the property and restructured the ground lease to include a 99-year term with contractual rent and no fair market rent resets. The seller is a partnership of Atlantic Realty Group, Moezinia Bros. Capital and 230 MD Member. M&T Bank provided financing for the acquisition. Venture Capital Properties represented the seller in the transaction.

February 27, 2015

Arizona Retail Western

GRI Investors Buys Casas Adobes Plaza in Tucson for $46M

by Nellie Day February 27, 2015

TUCSON, ARIZ. — GRI Investors has acquired Casas Adobes Plaza, a 91,318-square-foot shopping center in Tucson, for $46 million. The center is located at the southwest corner of Ina and Oracle roads. Casas Adobes is anchored by a new Whole Foods that opened this past August. Other notable tenants include Starbucks, Chipotle, Pei Wei Asian Diner, Jos. A. Bank, Chico’s, Sauce, Loop Jean Company and a Wildflower restaurant. GRI Investors was represented by Jan Fincham and Patrick Dempsey of Lee & Associates in Phoenix. The seller was Casas Adobes Plaza LLC.

February 27, 2015

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