Miami-Dade County bought the six-story, 625,000-square-foot office at 9250 W. Flagler St., with plans to use it for either office space or affordable housing. The County Commission approved the acquisition in June after cutting the price by $23 million from the original proposal. This office building, built on the 19.8-acre site in 1974, last traded for $57.5 million in 2014.
The company scooped up a three-property, 778-unit community portfolio located in Atlanta, all of which were built in the mid-2000s. The first property is Eastwood Village, which is located at 3005 Eastwood Village Dr. in Stockbridge and features 360 units spread across 26 buildings. LRE Management also bought Peachtree Landing, located at 7915 Senoia Rd. in Fairburn and featuring 220 units across 10 buildings, and Monterey Village, located at 6265 Lee’s Mill Rd. in Jonesboro and featuring 198 units across 13 buildings.
The company bought ANKR Wilton Manors, a property featuring 133 units across nine three-story buildings at 513 NE 21st Ct., from Gables Residential. Amenities include a fitness center, a pool and a resident lounge. Maxx Properties plans to renovate the complex, including upgrades to the leasing center.
The property at 2292 W. Sand Lake Rd. was sold by a JV between Banner Property Group and an unnamed partner. The JV bought the 8.9-acre property in 2022 for $26 million and has since made "extensive" capital improvements and renovations to the facility. The 149,000-square-foot facility is leased to international food distributor Quirch Foods, which has operated out of the location for 17 years.
The company is using the loan to acquire a 35,800-square-foot industrial outdoor storage facility located outside of Trenton, N.J. The site spans 6.4 acres and houses three buildings totaling 10,300, 19,500 and 9,000 square feet. Buildings feature 24- to 28-foot clear heights and a combined 26 dock positions.
The municipality of Monroeville bought the Monroeville Convention Center, located at 209 Mall Blvd. The sale comes after the seller, Oxford Development, announced plans to close the convention center in Feb. Mayor Nick Gresock said the center is an important part of the community, noting that it draws more than 400,000 visitors a year and generates 20,000 hotel stays.
Matan Cos. sold the Milestone Business Park located in Germantown, which it bought in 2014 for about $128 million. The Milestone campus sits on 44 acres northeast of the I-270 and Ridge Road interchange, and features four buildings constructed between 2002 and 2012. MRP Realty said the lot will either stay as a business park or it'll redevelop it as an apartment complex.
The developer bought the vacant lot at 842 Avenue of the Americas from 842 Enterprises. The seller previously intended to develop the site, but plans stalled in 2023 when lender Avana Capital filed a $33 million pre-foreclosure action at the site due to an outstanding $25.5 million debut on its $50 million loan. The case was eventually settled in Aug 2023, allowing 842 Enterprise to unload the site.
The company acquired 400 Atlantic Ave., a 100,000-square-foot building, from UBS Group. The property last sold in 2014 for $50 million. JAJ is exploring how it'll fill the building.
The system purchased a 15.7-acre parcel of land in Pasco County where it plans to build one of its HealthHubs. The seller of the land was undisclosed. BayCare said it will partner with Metro Development Group to develop health and wellness offerings for local residents.
The company acquired 601 and 611 W. South St. for $10.3 million combined from Lambert Development. The lots were sold over two transactions, with 601 W. South St. selling for $6.9 million and 611 selling for $3.3 million. The property is 1.73 acres and the buyer plans to build a residential unit on the site.
The company sold its 8,000-square-foot industrial outdoor storage facility in Sayreville, which spans 1.3 acres. The buyer was Dalfen Industrial, and the facility was sold in the off-market transaction.
Blue Dawn Properties sold the three-story, mixed-use building at 1225 Hertel Ave. in Buffalo. The 8,450-square-foot building has 12 apartments, nine of which are renovated. A tattoo parlor and a beauty salon fully lease the commercial spaces on the ground floor.
The financing is for the company's residential project at 138 Bruckner Blvd. in the Bronx’s Mott Haven neighborhood. JCS Realty purchased the site for $55 million and plans to build a rental building at the former warehouse site. The planned 12-story build will consist of 579 units, 135 of which are to be affordable.
A JV between PMG and Raven Capital Management will use the loan to refinance its 462-unit Society Orlando property that it opened in March. The property, which is operated by RCM Living Holdings, has resident amenities including a pool deck with grilling areas, coworking space, conference rooms, a fitness center and a lobby offering craft food and beverages.
A JV between AEW Capital Management, Redgate and Optimum Asset Management is using the loan for its Bedford Labs medical building. The 288,000-square-foot building houses multiple businesses, which the owner says can be expanded by another 300,000 square feet to house more tenants as demand rises.
The company bought the Main Street Market shopping center, located at 240 Market View Dr. in Kernersville. Main Street Market is 74,558 square feet and is anchored by Lowes Foods, which has been in the space since the shopping center opened in 2017. The tenant mix includes Jersey Mike's Subs, Pet Supermarket, Aspen Dental and other local restaurants and retailers, and was sold by an undisclosed seller.
The company bought 1114 First Ave. from Himmel + Meringoff Properties, which has owned the building since 1998. The 42,000-square-foot mixed-use medical building currently houses a Goodwill in the building's retail portion. The buyer said the building's "ideal size and location" prompted the purchase.
The developer scooped up the retail portion of 205 E. 59th St. from Zucker Organization. The portion covers a 20,000-square-foot commercial unit on the ground floor of the 25-story building. The buyer expects to fill out the empty retail space with tenants.
The company bought the property addressed as 405 Lewallen Rd. from American Strategic Investment Co., which bought the properties in 2020. The property consists of 888,000 square feet across 78 acres. The buyer said it plans to promote the building to potential tenants, adding the buildings are in excellent shape.
A JV between Rockpark Group and Redwood Capital Group bought Hawthorne Plaza at 2105 Eastern Blvd. The 69,600-square-foot retail hub near Martin State Airport was sold by its original local owners, a family that has owned the property since 1960. The plaza was sold in an off-market deal and is 98% leased.
The company purchased a strip mall at 3110 S. Horner Blvd. in Sanford from an undisclosed seller. The strip mall sits on more than 2.6 acres and encompasses over 10,600 square feet, per property records. The building's four tenants are Jersey Mike's, FirstHealth, Mattress Warehouse and Sports Clips.
Publix bought the seven-property grocery-anchored retail portfolio for $223.9 million, with properties across several Florida markets. The portfolio, totaling 608,314 square feet, was 97% occupied at the time of the transaction. The retail centers are:
DWS Group sold the Marela Apartments multifamily property in Pembroke Pines, Fla. to Abacus Capital Group for $110 million, resulting in an $11.5 million loss. The property was originally purchased for $121.5 million three years prior. The N.Y.-based investor secured a $71.5 million acquisition mortgage from JLL, backed by Freddie Mac, maturing in 2029. The sale's loss is attributed to slowed rent growth in South Fla. and increased operating costs due to higher interest rates and inflation. DWS Group had no mortgage on the property and representatives declined to comment on the sale.
Marcus & Millichap arranged the sale of JSB Apartments, a 48-unit property in Waldorf, Md. on behalf of the seller, RGB Holding, and secured the buyer, Lloyd Grosklags' Crain Flats Owner. The property, located at 2165-2169 Crain Highway near the upcoming Waldorf Station development, is expected to benefit from the buyer's value-add strategy. The 41,728-square-foot property features 48 junior one-bedroom floorplans.
Community Bank, N.A. bought the 1.05-acre site at 325 Orchard Park Rd., West Seneca. The site contains an empty former bank and is located on the corner of a 55-acre parcel owned by Pyramid, which is vacant and formerly held the Seneca Mall.
The health system bought the undeveloped 5.8-acre lot in High Point from Premier Center Associates. Immediate plans have not been announced, but a spokesperson said the purchase was made to support the growth and expansion of its campus.
Jay Properties acquired a 142,000-square-foot office property at 8 W 38th St in Midtown Manhattan to house the new Jay Conference Empire Location. This move is aimed at enhancing client experience by owning the building, thus eliminating the need for external landlords.
Site Centers Corp. acquired Brookhaven shopping center, a 4.6-acre retail center on Peachtree Rd. It was almost fully leased at the time of sale, with tenants including Chick-Fil-A, Mellow Mushroom, Fox Bros. Bar-B-Q and a Northside Hospital primary care location.
The developer and property manager bought the Main Street Shopping Market shopping center, located at 240 Market View Dr. in Kernsville. Anchored by Lowes Foods, the 74,558-square-foot center opened in 2017. Other tenants include Jersey Mike's Subs, Pet Supermarket and Aspen Dental.
Northlink Capital secured $24 million in takeout construction financing from MF1 Capital for a 53-unit multifamily property in Brooklyn's Midwood neighborhood, which was formerly a bingo hall. The property, located at 2339 Nostrand Avenue, includes market rate and affordable apartments and amenities such as a rooftop terrace and coworking space.
Sterling Group acquired a portfolio of rent-stabilized buildings, which includes seven buildings totaling 124 units with a mix of market-rate and rent-stabilized units in Sunset Park, Brooklyn. Sterling plans light renovations and can raise rents on some units upon vacancy. The area is described as trendy and the buildings, renovated 15 years ago, are in good condition.
The Gus Machado Revocable Trust sold the dealership at 120 W. 49th St. in Hialeah to Verium Investments. The 52,392-square-foot property sits on a 5.7-acre lot.
Greystone provided the Fannie Mae loan for the refinancing of The Count, a 27-unit apartment building in Harlem, N.Y. The loan features a fixed interest rate, a 30-year amortization schedule and interest-only payments for the initial two years of the five-year term. Avi Kozlowski of Greystone originated the loan for the borrower, Haussmann Development. The Count offers amenities such as a virtual doorman, rooftop terrace and a penthouse level lounge coworking space.
The grocer paid $50.7 million for Davie Shopping Center, a 12-acre property at 4701 South University Dr. which it anchors and is also nearly completely leased. Publix also paid $32.2 million for Regency Square at 4901 SW 148th Ave. The 14.4-acre property is home to 98,967 square feet of retail space, including a 48,555-square-foot Publix.
The firm purchased a 305,870-square-foot industrial building in Middletown from Core5 Industrial Partners. The building features a clear height of 36 feet, 50 dock doors and an ESFR sprinkler system. The building is leased to an undisclosed provider of e-commerce services.
Woolbright Development sold 9.05 acres at 374 Northlake Blvd. for $1.82 million per acre. The property includes a building that AvalonBay plans to keep while it develops the site's vacant land and parking lot into an apartment complex.
The company sold the Courtyard Jacksonville I-295 to Lantern Street Lodging. Shaner bought the 100-key property at 9815 Lantern St. in 2007 for $1.47 million and renovated it 2019. The Courtyard Jacksonville I-295 has an on-site restaurant among other amenities.
The company bought the site at 8501 Westmoreland Dr. NW from Oakmont Business Partners. Steris plans to build a medical facility on the site, but did not provide specifics.
The catering company bought the building at 4310 Regency Dr. in High Point from an undisclosed seller. The office building, which is 44,578 square feet and sits on 5.95 acres of land, will house the offices for the expanding company. Pepper Moon Catering said it needs a bigger space to accommodate its recent growth in customers and employees.
2501 Greenville purchased the medical office building at 2501 Stantonsburg Rd. in Greenville. The building was constructed in 1978 and occupies 11,571 square feet on roughly 1.87 acres. The building is mostly occupied, though space remains for leasing.
A hospitality giant bought 1.3 acres at 210 Peachtree St., which houses the 1,073-room Westin Peachtree Plaza. Marriott already owns the hotel. The state of Ga. sold the land to Marriott, who owned the site since 1870.
A 53,000-square-foot building at 147 Prince St., also listed as 102 Fleet Pl., was sold by Pearl Realty Management. The Jay Group is planning a new building and will demolish the vacant one-story building sitting on the site.
The loan is for the refinancing of The Delford, a 160-unit apartment complex in Rochelle Park, N.J. The Delford offers one-, two- and three-bedroom units, 24 of which are subject to income restrictions. Amenities include an outdoor pool, grilling and dining areas, coworking lounge and a fitness center.
The company purchased Hudson Heritage, a 120,499-square-foot shopping center in Poughkeepsie, N.Y. Grocer ShopRite anchors the center, which is 92% leased with other tenants including CVS, Starbucks, Chipotle, AT&T, Jersey Mike's, Burger King and PulseMD. The seller was EFG/Saber Heritage SC.
A JV between Crosspoint Associates and Long Wharf Capital bought Porter Square Galleria, a 55,610-square-foot property anchored by a Target store. The plaza is 96% leased, with Retro Fitness, Citizens Bank and Anna's Taqueria among its other tenants. The seller was a CBRE affiliate which purchased the property in 2014 for $35.6 million.
The company bought The Town Center at Orange Lake, a 57,512-square-foot shopping center at 14896 E. Orange Lake Blvd., adjacent to Disney's Animal Kingdom. The shopping center is anchored by a 47,955-square-foot Publix grocery store, with Publix planning to lease out the site's remaining vacant space. The seller was PGIM Real Estate.
The company unloaded Smithville Square, a 106,931-square-foot retail property in Atlantic County, N.J. Anchored by Curexa Pharmacy, the property spans 26 acres and was 97% leased to 19 tenants at the time of sale. The buyer was Western Building Co.
The loan will refinance The Duke, a 28-unit apartment building located at 521 W. 134th St. in Harlem. Amenities at the midrise building include a virtual doorman and a rooftop terrace.
The company acquired a two-building office campus in Northeast Raleigh at 6780-6880 Perry Creek Rd. J.D. Beam said it purchased the building, from an undisclosed seller, as it needs space for their expanding operations. The buildings were built in 2001 and renovated in 2019 and sit on 11.6 acres.
The company sold the vacant building at 7675 Canton Center Dr. to Catalyst Investment Partners. Dunbar hasn't used the building since 2018, but maintained ownership. The building was on the market for $3.5 million, but Dunbar accepted a lower office since it sat on the market for "quite some time."
The company secured $35 million to refinance the International Corporate Center, a six-building industrial project located in Concord, N.C. International Corporate Center totals 200,831 square feet and is home to 12 tenants. CIP also used $31 million to acquire a seven-building, 334,989-square-foot industrial portfolio in the Charlotte metropolitan area.
The company bought eight parcels totaling about 39 acres at and around the Colchester Industrial Park. The sellers were various private companies and private individuals. Amazon is set to build a data center on the site.
The tech company sold the 482,571 square feet of office, amenities and parking garages at 851 and 899 W. Cypress Creek Rd. to Illimitat. The property last traded for $58.8 million in 2002. The building runs nine stories and was built in 1987. The site covers 6.45 acres and has 1,048 parking spaces, with amenities including a bank branch, conference rooms, a cafe and a fitness center.
The company sold its 16.2-acre gated truck parking lot at 12640 Wiles Rd. to SNL Coral Springs for $2.1 million per acre. The seller acquired the property for $8.75 million in 2022 and used a $22.93 million loan to build the gated tractor trailer park.
The company bought the shuttered Jeanne D'Arc Residence at 253 West 24th St., and will use the 59,250-square-foot building to expand its development site at 280 Eighth Ave. The building previously housed a Roman Catholic congregation. Catsimatidis plans to turn the site into an apartment building with 64 units.
A JV between Kinross Real Estate and Greenline Realty sold the 14,000-square-foot office building in Brookline, Mass. The buyer was Concept Properties. The seller purchased the building for $2.5 million in 2005.
The developer purchased six parcels off East Lyon Station Rd. but did not divulge its plans for the land. The seller was undisclosed. The land sits in the Town of Butner, located in the southern part of the county and totaling more than 146 acres.
The company unloaded two properties located within Hudson Valley Plaza, a shopping center in Kingston, N.Y. Both tenants, Lowe's and Sam's, have occupied space at the shopping center since 1996. Walmart and PetSmart anchor Hudson Valley Plaza, which totals 673,000 square feet.
The loan is to refinance International Corporate Center, a six-building industrial project in Concord, N.C., along with another two nearby buildings under construction. Located at 725 Corporate Dr. NW, the existing six-building development totals 200,831 square feet and is 92% leased to 12 tenants. CIP Real Estate acquired International Corporate Center as part of a 13-property industrial acquisition from Albany Road Real Estate Partners in 2020.