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Calif. office assets trade for $56M; NY development site sells for $46M

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Calif. office assets trade for $56M; NY development site sells for $46M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Harbor Associates and Goldman Sachs Asset Management Private Real Estate acquired the two-building, 156,630-square-foot, 81%-leased office campus, the Commons at 25124–25125 Springfield Court, in Valencia, Calif., for $33.1 million from Barings. Harbor Associates, in a joint venture with Blue Vista Capital Management, also bought the 198,500-square-foot Conejo Corporate Campus at 2380 and 2400 Conejo Spectrum St. in Thousand Oaks, Calif., from Cusamano Real Estate Group for $22.9 million, The Real Deal reported.

* HAP Investments paid $46 million to Crescent Heights Realty for a 64,430-square-foot development site at 65 Franklin St. in New York City, where it plans to build a 40-unit condominium project, The Real Deal reported.

* AA Cherry Creek LLC sold the 12-story, 238,302-square-foot, 85%-leased Cherry Creek Corporate Center office tower at 4500 Cherry Creek Dr. in Glendale, Colo., to M&J Wilkow and a DRA Advisors LLC managed fund for $40.5 million, the Colorado Real Estate Journal reported, citing property records.

* Sentinel Real Estate Corp. sold a six-story, 83-unit, roughly 100,000-square-foot rental apartment building at 31 Ocean Parkway in Windsor Terrace, N.Y., to Frey Management for $33.7 million, The Real Deal reported, citing unnamed sources.

* The Naftali Group bought the building at 1039 Madison Ave. in the Upper East Side of New York City for about $26 million from Buchbinder & Warren, The Real Deal reported.

* Gladstone Commercial Corp. divested a 64,000-square-foot bakery facility in Arlington, Texas, for $5.6 million to the building's sole tenant.

* Vesta Industrial Real Estate Fund acquired a 1,341,730-square-foot, 96%-occupied portfolio and a 143,337-square-foot building in Tijuana, Mexico, for an undisclosed amount during the fourth quarter.

* Acer Service Corp. signed on for 166,024 square feet at Duke Realty Corp.'s 16508 S. John Lane Crossing warehouse in Lockport, Ill.

Additional coverage

Report: Ares puts 50% stake in NYC office building on the block

Slate Retail buys 2 properties for US$48.5M, signs new US$250M term loan

Gramercy Property affiliate sells Fla. office complex for $43M

Rayonier sells 11,000 acres of land in Florida for $40M