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San Jose, Calif., asset trades for $35M; Slate Retail to pay $25M for Ga. asset


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San Jose, Calif., asset trades for $35M; Slate Retail to pay $25M for Ga. asset

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

* Miraido Village LLC purchased The Miraido Village Apartments at 566 N. 6th St. in San Jose, Calif., in an off-market deal from Japantown Development for about $34.5 million, per public documents, or $36 million per the brokers, the Silicon Valley Business Journal reported. The 122,154-square-foot property comprises 109 residential units and some 12,000 square feet of retail space on the ground level and is fully leased.

* Slate Retail REIT agreed to acquire the 94%-occupied National Hills Shopping Center in the Augusta-Richmond County, Ga.-S.C., Metropolitan Statistical Area for $24.7 million in a deal set to close in the fourth quarter.

* Federal Capital Partners bought the 200-unit The Commons Apartments in Tampa, Fla., for about $24.1 million, Citybizlist reported.

* Marx Realty & Improvement Co. purchased an 11,500-square-foot retail condominium at 124 Hudson St. in Tribeca, New York, from Time Equities for $15 million, Commercial Observer reported.

* Terra bought a part of its planned mixed-use development site at 16000 Pines Blvd. in Florida for $11.5 million from the city of Pembroke Pines, The Real Deal reported, citing records.

* Rexford Industrial Realty Inc. acquired the 25,040-square-foot industrial property at 1825 S. Soto St. in Los Angeles for $3.5 million, and a 15,433-square-foot industrial building at 19402 S. Susana Rd. in Rancho Dominguez, also in Los Angeles, for $3.9 million.

Additionally, the company signed a five-year triple-net lease for the 108,500-square-foot property at 3880 W. Valley Blvd. in Pomona, Calif., with a car company, and a 10-year triple-net lease for the 207,953-square-foot property at 2131 Western Ave. in Garden Grove, Calif., with engineering firm Southland Industries.

* Rockwood Capital LLC and Thor Equities are looking to sell a 2.1-acre development site at 2801 N.W. 3rd Ave. in Wynwood, Miami, for $45 million, The Real Deal reported.

* Seritage Growth Properties intends to convert 90,000 square feet of the 180,000-square-foot Sears store at the Broward Mall in Plantation, Fla., into a development with six restaurants and five retail spaces, through a more than $20 million redevelopment plan, The Real Deal reported.

* Boston Properties Inc. signed a lease with Intermarkets for a portion of One Freedom Square in Reston Town Center, Va. The media company opened its new headquarters on the 11th floor of the building.

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