sales_and_leases

CBRE Brokers $57.7M Sale of Luxury Apartment Community in Metro Orlando

by John Nelson October 16, 2014

WINTER PARK, FLA. — CBRE has brokered the $57.7 million sale of Sun Key Apartment Homes, a 596-unit luxury apartment community in Winter Park, roughly 7.5 miles northeast of Orlando. The multifamily property is located at 7502 Sun Key Blvd. BC Property Investments purchased the asset from an affiliate of Starwood Capital Group, which bought Sun Key back in September 2010. The property has recently undergone $12 million worth of renovations and was 94 percent occupied at the time of sale. The community’s amenity package includes a Wi-Fi business center, two swimming pools, an 1,800-square-foot fitness center, renovated clubhouse, firepit, spa and a game room with flat-screen TVs, video game consoles, air hockey, foosball and billiards. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction.

October 16, 2014

California Retail Western

Pacific Plaza in Torrance Sells for $10.6M

by Nellie Day October 16, 2014

TORRANCE, CALIF. – Pacific Plaza, a 23,438-square-foot retail property in Torrance, has sold to Metro Properties for $10.6 million. The space is located at 2382, 2390 & 2396 Crenshaw Blvd. It was built in 1992. The space is fully occupied by tenants like Subway, H&R Block, The UPS Store and BB’s Beauty Nail & Spa. Metro Properties was represented by Jeremy S. McChesney of Hanley Investment Group. The seller, Holt Group, was represented by Patrick G. Kent and Kevin T. Fryman of the same firm.

October 16, 2014

California Office Western

Regus Leases Space at Topaz in Downtown San Pedro

by Nellie Day October 16, 2014

SAN PEDRO, CALIF. – Regus has leased more than 15,000 square feet at Topaz in Downtown San Pedro. The Class A office tower is located at 222 West Sixth Street. The flexible workplaces provider will use this space as an expansion of its South Bay operations, which serve Long Beach, Palos Verdes and the 190th Street Corridor. Regus represented itself in this transaction, while the landlord, Jupiter Holdings, was represented by CBRE’s Tim Vaughan, Dave Smith and Mike Harry.

October 16, 2014

Midwest Ohio Restaurant Retail

M&M Brokers Sale of 6,040 SF Restaurant Property

by Danielle Everson October 15, 2014

POWELL, OHIO — Marcus & Millichap has brokered the $930,000 sale of a 6,040-square-foot, net-leased restaurant property in Powell, approximately 17 miles north of Columbus. Luce Nuovo is located at 3499 Market St. The casual dining restaurant and wine bar serves Italian and French contemporary cuisine. Justin Fenn and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller and buyer, both limited liability companies.

October 15, 2014

Multifamily New York Northeast

GFI Realty Arranges $24M Sale of Five-Building Multifamily Portfolio

by Amy Works October 15, 2014

NEW YORK CITY — GFI Realty Services has brokered the sale of a five-building multifamily portfolio in the Bronx. The portfolio, which consists of 206 units, sold for $24 million or $117,000 per unit. The adjacent properties are located at 922-926, 932-934, 938-940 and 944 Bronx Park South and 2137 Vyse Ave. Shulem Paneth and Eli Matyas of GFI Realty Services represented the buyer, while Yosef Katz, also of GFI Realty, represented the seller, Rising Development-BPS LLC, in the transaction.

October 15, 2014

California Multifamily Western

SyRES Properties Buys Rosemeade at Olympus Pointe in Roseville

by Nellie Day October 15, 2014

ROSEVILLE, CALIF. — SyRES Properties has acquired the 465-unit Rosemeade at Olympus Pointe apartment complex for an undisclosed sum. The community is located at 1451 Rocky Ridge Drive. Rosemeade at Olympus Pointe was built in 1992. The transaction is the largest multifamily deal ever in the Sacramento region, according to CBRE, which represented the seller, the ConAm Group and an institutional client advised by CenterSquare Investment Management. Reports put the deal valued at more than $70 million. The ConAm Group ultimately re-capitalized the deal, partnering with SyRES Properties, a subsidiary of Syufy Enterprises. This is SyRES Properties’ first multifamily acquisition. The seller was represented by CBRE’s Marc Ross, William Blucher, Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch.

October 15, 2014

Mixed-Use New York Northeast

TerraCRG Brokers Sale of Three-Building Mixed-Use Portfolio for $4.75M

by Amy Works October 14, 2014

NEW YORK CITY — TerraCRG has brokered the sale of a three-building mixed-use portfolio in Brooklyn’s Prospect Lefferts Gardens neighborhood. The buildings sold for $4.75 million or $284 per square foot. Located at 608-612 Flatbush Ave., the 16,749-square-foot portfolio offers 21 residential units and three commercial spaces. Adam Hess, Sam Shalumov, Chris Pechlivanides and Edward Setton of TerraCRG handled the transaction.

October 14, 2014

Florida Retail Southeast

Disney Store Opens at St. Johns Town Center in Jacksonville

by John Nelson October 14, 2014

JACKSONVILLE, FLA. — Disney Store has opened its newest store location at St. Johns Town Center, a super-regional, open-air mall located at 4663 River City Drive in Jacksonville. The mall is operated by Simon Property Group. The store will include a path for guests known as the Pixie Dust Trail that guides shoppers through “storytelling neighborhoods” involving Disney, Marvel and Star Wars characters. The store also includes an interactive video library known as the Disney Store Theatre and a limited time Halloween Shop. The Disney Store retail chain, which debuted in 1987, is owned and operated by Disney in North America, Europe and Japan. Disney Store is the retail merchandising arm of Disney Consumer Products, the business segment of The Walt Disney Co. (NYSE:DIS) and its affiliates. There are currently more than 200 Disney Store locations in North America; more than 40 Disney Store locations in Japan; and more than 100 Disney Store locations in Belgium, Denmark, France, Ireland, Italy, Portugal, Spain and the United Kingdom.

October 14, 2014

Florida Retail Southeast

HFF Brokers $32.8M Sale of Shopping Center in Destin

by John Nelson October 14, 2014

DESTIN, FLA. — HFF has brokered the $32.8 million sale of the Shoppes at Paradise Isle, a 171,837-square-foot retail power center in Destin. Located at 34940 Emerald Coast Parkway, the shopping center is 89.7 percent leased to tenants such as Best Buy, Big Lots, Michaels, PetSmart, Ulta Beauty and Office Depot. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Weingarten Realty Investors, in the transaction. Stoltz Real Estate Partners purchased the center through its fifth U.S. diversified fund.

October 14, 2014

New York Northeast Retail

Urstadt Biddle Properties Acquires Majority Equity Interest in McLean Shopping Center

by Amy Works October 13, 2014

YONKERS, N.Y. — A wholly owned subsidiary of Urstadt Biddle Properties Inc. has acquired a 51 percent equity interest in a joint venture that owns McLean Plaza Shopping Center in Yonkers for $7.8 million. Built in 1982, the 57,000-square-foot center is occupied by a 35,000-square-foot A&P Supermarket, other tenants includes Duane Reade pharmacy, an E-Z Pass Service Center, Dunkin’ Donuts and Ridgewood Savings Bank. The purchase price is subject to the company assuming its share of a $2.78 million first mortgage payable that encumbers the shopping center. The company purchased its interest from an affiliate of The Great Atlantic & Pacific Tea Company (A&P), which is a tenant at the shopping center. In conjunction with the purchase, A&P modified its lease and extended the initial term until 2034. The remaining 49 percent of the joint venture is owned by entities owned by the two real estate families that originally developed the shopping center with A&P.

October 13, 2014

Newer Posts

Older Posts