The company sold the 505,436 square feet of industrial space in four warehouses at 12700 N.W. 42nd Ave. to TA Realty. The price equated to $317 per square foot. Called the Ironwood Commerce Center, the warehouses were built on the 28.3-acre site in 2022 and this is the first time it has sold.
The loan is for the refinancing of the 471-room Renaissance Boston Seaport Hotel, which was built in 2008 and set to be renovated next year, the hotel offers amenities such as 21,000 square feet of meeting and event space, a 10,700-square-foot ballroom, club lounge, recently renovated fitness center, an indoor pool and several food-and-beverage outlets. Eastdil Secured arranged the loan on behalf of the borrower, a JV between affiliates of Rockpoint, Highgate and hotelAVE.
The 172,000-square-foot office building at 9 Times Square has sold for $63.5 million to Elliot and Ike Chehebar, who own the Jackson Group. AIC, who bought the building on the corner of Seventh Ave. and West 41st St. in Nov. 2014 for $162.3 million, sold the property to help diversity its investments. The building is fully leased.
The company bought two industrial buildings on Airport Dr. from developer McCraney Property, which built the buildings as the second phase of Airport South Logistics Park. The buildings total around 235,000 square feet of industrial space. No further details were released.
The building at 17 to 23 Avenue of the Americas in Tribeca was sold to a JV between Sumaida + Khurana and Siras Development. The three-story 12,000-square-foot building is located on a 4,700-square-foot lot on the corner of Walker St., West Broadway and Avenue of the Americas. The seller was the Matera family, who's owned the building since 1974.
The firm acquired Granada Plaza, a 74,000-square-foot retail center located in Tampa. Publix anchors the property, which was 95% leased at the time of sale. An undisclosed seller sold the property.
The health system purchased an assemblage of 218 acres at 3838 Harden Blvd. in South Lakeland. The buyer plans to build a hospital with 400 beds as well as an offsite emergency building and a medical office building. AdventHealth also has commercial and residential development plans for the site. The seller was undisclosed.
The company bought the University Place Apartments at 3285 N. University Blvd., from an undisclosed seller, and plans to renovation and rebrand the building. The 4.62-acre property includes 131,117 square feet of apartment buildings, which were built in 1966. The property last sold in 2013 for $2.6 million.
The firm bought the 35,542-square-foot industrial building at 14301 South Lakes D. from The CF. The 1985-constructed building, which is fully leased to three tenants, traded for over $191 per square foot. The building includes 18-foot clear heights, 10 loading docks and a glass exterior.
The company sold Princeton Overlook, a 158,180-square-foot office building in Trenton, N.J. The building was constructed in 1988 on a four-acre site that can support additional expansion. The buyer was Princeton University, which is a current tenant at the building.
The company bought Shoppes of Wilton Manors, a 78,600-square-foot shopping center on 5.4 acres at 2262 Wilton Dr. The seller was 2262 Wilton Drive Owner. Stiles said it partnered with FCA Partners on the purchase, who together will renovate the shopping center in 2025.
1989 Sunny Court sold the 7.87-acre property at 6024 and 6020 S.W. 8th St. to Cade Capital Partners. The property currently has the 80-room Sunnyside Motel, an 8,411-square-foot building, and Sunnyside Motel & Trailer Park. The hotel was built in 1935 and the property last traded for $21 million in 2021.
The firm bought Northlake Square, an 82,000-square-foot retail center in Tucker, Ga. The seller was Barnhart Commercial Management. The center, anchored by Aldi, Best Buy and Mellow Mushroom, has a 20-year average tenure and is 98% occupied.
The company acquired eight parcels near the N.C. State Fairgrounds where it will develop a 267-unit apartment project. The multi-building complex will be located at 108 and 114 Grand Ave., 5203 and 5205 Dorcas St. and 5200, 5204, 5210 and 5212 Hillsborough St. The parcel sellers were undisclosed.
Century Plaza, located at 1700 Woolco Way, was sold to a JV between CF Properties and Beerock Holdings. Century Plaza Trust was the seller. The 28,700-square-foot strip mall was 97% leased at the time of the sale, and tenants include T-Mobile, Dollar Store, Broadway Pizzeria and Restaurant, Cubamax and others.
The firm bought the 35,542-square-foot industrial building at 14301 South Lakes Dr. from an undisclosed seller. The 1985-constructed building, which is fully leased to three tenants, traded for over $191 per square foot. The building includes 18-foot clear heights, 10 loading docks and a glass exterior.
The company acquired 4.5 acres from the Boynton Beach Community Redevelopment Agency (CRA) to build workforce housing. Located at 145 N.E. 4th Ave., the CRA agreed to sell the land to PulteGroup in 2022 and fund $3.3 million towards the workforce housing project. The housing will include 41 for-sale homes, with 19 single-family homes and 22 townhouses.
The company purchased 232 Richmond Ave. from 232 Richmond. The 136 year-old, 17-unit apartment building, titled The Alexander, was bought by the seller in 2018 for $659,000. The State Historical Preservation Office said the building is an "excellent example" of Queen Anne style architecture.
Summit Palms Apartments sold the 352-unit building at 4491 N.W. 19th St. for $125,284 per unit. It last sold for $28.5 million in 2018. Totaling 400,154 square feet, Windward Vista was built on the 9.7-acre site in 1973 and includes a pool, a clubhouse and a playground.
The company will execute a $30 million loan to renovate 99 Park Ave., a 26-story, 600,000-square-foot office building in Midtown Manhattan. The improvements will include a reimagined lobby and updated amenity spaces, including a conference center, speakeasy, barbershop and salon and an entertainment lounge with a bowling alley and golf simulator. Completion is slated for early 2026.
Downstream Realty sold the 97,740-square-foot self-storage facility at 4400 S.W. 75th Ave. for $297 per square foot. It last traded for $10 million in 2016. The property was built on the three-acre site in 1963, and UTEX plans to expand the facility by constructing a three-story, 60,000-square-foot self-storage facility on the RV parking lot.
Reto West Investments sold 9.83 acres at 33700 S.W. 192nd Ave. and 10 acres at 35655 S.W. 192nd Ave. to the homebuilder. As part of the deal, Lennar said it'll pay the seller additional proceeds from the sale of homes on the properties should its development plans come to fruition. The 9.83-acre site last traded for $1 million in 2020 and the 10-acre property last sold for $1.5 million in 2021.
The firm sold the 63 apartments at 120 S.W. 8th Ave. to Eco Ipanema for $279,365 per unit. The apartment complex last traded for $13.6 million in 2015, so it gained in value. Totaling 118,256 square feet in 11 stories, the Ipanema Apartments were built on the 20,865-square-foot lot in 2010.
The firm sold the facilities at 211 Murphy Rd. and 171 Murphy Rd. 211 is a 92,616-square-foot industrial building that includes a weigh station and access rights to a railspur. The adjacent property at 171 is a one-story, 19,200-square-foot industrial building. The buyers were not disclosed.
The company sold Woburn Plaza, a 31,994-square-foot shopping center located in Boston. Tenants at the property include West Marine, Eastern Bank and Mattress Firm. The buyer was Chestnut Realty Management.
Forrest Street Partners sold Dogwood Blossom, a manufactured housing community totaling 78 homesites in Douglasville, Ga. The seller acquired Dogwood Blossom in 2021 and performed repairs to the road, sewer enhancements, water line repairs, power and landscaping improvements, community signage and enhanced amenities. At the time of the sale, property occupancy was 96%.
The property at 187-193 Main St. recently sold in an off-market transaction for $7 million, according to Hyatt Commercial, who brokered the deal for both the undisclosed seller and buyer. A local investor acquired the fully leased building. The 21,000-square-foot building is located in the middle of Annapolis' main thoroughfare and last sold for $4.1 million in 2003 to Rickman Development.
The company bought the 43,000-square-foot Manhattan site at 180 E. 125th St. from Extell Development. JCS plans to build a 13-floor, 440,000-square-foot development with 479 apartments on site.
The firm bought the 310-unit, 1960s-era apartment complex at 6166 Leesburg Pike, formerly called Ravenwood Tower Apartments. The seller was Capital Investment Advisors, who acquired the property for $52 million in 2015. The building rises to six stories and comprises apartments between studios and two-bedrooms, and includes a swimming pool, tennis courts and a playground.
The company bought Gates Hotel South Beach, a 230-room hotel at 2360 Collins Ave. from Rockpoint Group. The hotel totals 141,514 square feet on the 1.3-acre lot a block west from the ocean. The hotel includes a restaurant, a bar, a pool and 1,200 square feet of meeting rooms.
A JV between Blake Partners, JAM Real Estate Partners and The Straus Group bought the two buildings located at 303 W. 42nd St. and 300 W. 43rd St. in the Times Square area. The buildings, which feature a mix of retail and office space, were recently renovated. The sellers were a pair of limited liability companies.
A JV between The Gordon B. Certain Jr. Trust of Atlanta and Lawrence C. Turner sold the properties at 12700, 12864, and 13000 Biscayne Blvd. to Publix. The 11.8-acre site has a 90,188-square-foot retail plaza anchored by Publix, a 22,877-square-foot office building of four stories with a Wells Fargo Bank branch, and a 4,362-square-foot restaurant leased to McDonald's. The retail center was first developed in 1963, but it's been renovated multiple times since.
Zell One sold the 93,219-square-foot office building at 2101 N.W. Corporate Blvd. to Larsen MacColl Partners. The price equated to $215 per square foot. Boca Corporate Center last traded for $6.75 million in 1982, the same year the four-story building was developed on the 5-acre site.
The developer purchased the 0.94-acre property at 233 Fifth St., and they plan to build a residential complex on the property. Red Apple says construction on their build will start in 2025. The seller was undisclosed.
The firm acquired the retail component of 40 Bleecker Street from a JV between Broad Street Development and Crow Holdings. The 10,500-square-foot retail condominium sits at the base of a luxury condo building. The retail condominium consists of four spaces, one of which is vacant and Infinite Real Estate plans to fill.
The company said it purchased Cumberland Crossing at 1505 North Washington St. in North Attleborough. Ocean State Job Lot says it plans to repurpose the existing retail center on site. The seller was undisclosed.
A JV between Leyad and Capstone Equities bought the 226-room hotel at 653 11th Ave. from Brookfield Property Group. The hotel was sold for $275,000 per room key, which Leyad said is one of the lowest closing costs per key for a renovated hotel in recent years. Brookfield previously paid PGIM Real Estate Investors $82.7 million to acquire the hotel in Sept. 2019.
The investment group purchased the 227,000-square-foot Eagle Plaza shopping center in Voorhees from First National Realty Partners. An Acme grocery store anchors the nearly fully leased Eagle Plaza. Located at 700 Haddonfield-Berlin Rd., tenants at the plaza also include Bath & Body Works, Chase Bank, Mattress Warehouse, Sherwin-Williams, T-Mobile and McDonald's.
The company bought the 31,100-square-foot property at 350 Grand Concourse in Mott Haven from Atlantic Development Group. The seller first bought the site in Nov. 2021 for $21.2 million. Shorewood plans to develop a 220,000-square-foot mixed-use project, anchored by a grocery tenant, at the property.
Knight Capital acquired the office building at 75 Enterprise Center. KVH says the sale will boost its working capital and allow it to take advantage of "strategic opportunities." The buyer plans to redevelop and perform upgrades on the building.
The firm acquired the 66-door truck terminal, located at 8814 W. Market St. The property is 10.4 acres and includes a 22,998-square-foot warehouse and 3,250 square feet of office space. The facility also includes 71 trailer parking spaces, a 2,080-square-foot drive-thru maintenance facility and an on-site fueling station. The seller was Crosspoint Property Group.
The company bought 0.67 acres of mostly vacant land off East Horatio Ave. from Collison Capital of Winter Park. The seller bought the three-parcel assemblage in 2022 for $899,800. The buyer plans to demolish the small, shuttered building on site to construct a four-story building with roughly 18,000 square feet of retail space on the first floor and residential units on the upper floors.
The company bought a 1.6-acre site in Miami's Edgewater neighborhood where it plans to build a 47-story, mixed-use skyscraper. The development, Tower 36, is set to feature 312,058 square feet of branded residences and a variety of commercial and retail uses. Located at 3501 Biscayne Blvd., 345 and 409 NE 36th St., the seller of the site was undisclosed.
A JV between Winstanley Enterprises and Surrey Equities purchased the 225,000-square-foot Chelmsford Mall, including Concord-based Winstanley Enterprises. Chelmsford Mall is fully leased. The 22-acre site at 265 Chelmsford St. was sold by Carex Realty Trust.
The organization sold the 172 affordable apartments at 2543 N.W. 49th Ave. to Spira Equity Partners. The buyer has already started renovations on the complex. Totaling 145,205 square feet, the garden-style apartment complex was built on the 10.8-acre site in 1991.
The company purchased Cross County Plaza, a retail center located in West Palm Beach. The property, which totals 49,451 square feet, is fully leased up. The seller was undisclosed.
The company bought 71 Topeka St., home to a Sunbelt Rentals store, from Core Investments. Core had purchased the site in 2020 for $5.5 million. The commercial site is solely occupied by Sunbelt, who's under a long-term lease.
The firm sold the 26,816-square-foot boutique development at 1800 Central Ave. to Edgewater Ventures. Boulevard Real Estate acquired the 0.7-acre site in 2018 for $2.5 million. The property is 80% leased, but the buyer is planning a marketing push to fill up the remaining vacancies.
Andy English, with his Perkins Fund, purchased a 160,000-square-foot building in West Raleigh, well below the $33 million that the previous owner, Bridge Commercial Real Estate, paid for the building in 2020. The building at 5511 Capital Center Dr. has 163,522 square feet of office space and is about 55% leased. The buyer did not divulge any plans it has for the building.
The company bought 455-495 Wehrle Dr. from two private sellers, Richard and Kimberly Worling of Williamsville. The 18-unit apartment building was renovated in 2023 with new kitchens and bathrooms. The Worlings had owned the property since 2005.
A JV between Abacus Acquisitions and 4 River Property Group acquired an automotive site in Fort Lauderdale to set up a self-storage facility. Broward Automotive sold the 3.88-acre property, which is located at 1400 Progresso Dr. The site last traded for $2.55 million in 2013 ans previously used for automotive storage.
A JV between Hornrock Properties and GTIS Partners will use the loan to refinance Ivy & Green, a 389-unit apartment community in Hackensack. The two-building complex features single and two-bedroom units with amenities including a pool, fitness center, coworking space, lounge, theater and music studio and a pet spa.
The loan is for the company's Li'l Abner Mobile Home Park at 11033 N.W. Second Terrace. Consolidated Real Estate Investment says the loan will enable it to advance a "comprehensive community redevelopment plan." The company's plan includes building residential housing, affordable and workforce housing, a school, medical facilities and more.
The firm acquired The Hills Village Center, a 110,453-square-foot retail center at 550 Hills Dr. in Bedminster, N.J. The shopping center will be managed under the firm's Lena Centers brand. Completed in 1988 on a 13-acre site, The Hills Village Center was 89% leased at the time of sale.
The firm acquired The Carriage House at 3500 Powelton Ave., which spans a full block just northwest of Drexel University's campus. The seller was Global Student Accommodation Group. The 133,000-square-foot Carriage House last traded in 2020 for $33.65 million and consists of three connected Victorian-style apartment buildings.
The company sold the Westland Park Plaza near Orange Park to two unnamed entities. Built in 1989, the shopping center at 6000 Lake Gray Blvd. includes 823 parking spaces, 18 stores and 163,259 square feet of leasable area. The property last sold in 1989, when it was built, for $3.6 million.
The company completed its purchase of the 69,723-square-foot retail complex Camfield Corners, which sits on a 9.7-acre parcel at 11535 Elm Lane. The retailer center is 100% leased. The seller was Camfield Corners, which purchased the center for $11.8 million in March 2015.
The company bought the property at 233 Thomas Industry Way from the Barger Kimberly E Inter Vivos Trust. The land is vacant and meant for commercial builds. Neither the buyer nor seller divulged plans for the site.
169 King St bought the 0.16-acre property at the corner of Prawn and King St. in St. Augustine. The seller bought the land in 2018 for $750,000. The parcel is vacant but zoned for commercial use.
A JV between Hornrock Properties and GTIS Partners secured the loan to refinance Ivy and Green, a two-building, 389-unit luxury, multifamily community in Hackensack, N.J. Built over 2023 and 2024, and located at 1 Park Ave., the luxury towers hold 221 units and 168 units. Amenities in the building include concierge service, an outdoor pool, a sundeck, a fitness center, a yoga studio, co-working spaces, a resident lounge, a movie theater and music studio, a pet spa and electric vehicle charging stations.