Richards Barry Joyce & Partners, LLC (RBJ&P) have brokered the sale of 176 Grove St. and 130 Constitution Blvd.
Novaya Real Estate Ventures purchased the two industrial buildings, which are each fully leased due to their location and strong functional attributes. 176 Grove St., a 169,968 s/f warehouse/distribution building, is occupied by Williams-Sonoma Direct and Spirit Delivery & Distribution Services, and serves as a regional distribution center for each. 130 Constitution Blvd. is a 59,970 s/f warehouse building fully occupied by Clark Cutler McDermott. The building also serves as a dry storage and distribution facility for the company.
"This is an excellent investment on the part of Novaya Real Estate Ventures," said Chris Skeffington, senior vice president, RBJ&P. "The buildings are well located and both fully leased to well capitalized national and local tenants."
John Lashar, partner, and Skeffington, senior vice president of RBJ&P represented the buildings' seller and procured the buyer. RBJ&P has been retained as leasing agent for both buildings.
The Novaya Real Estate Ventures principals bring together nearly 100 years of collective experience in the real estate ownership arena. The complementary backgrounds of the Novaya principals enable our investors to access deep experience sets in real estate development, re-development and operations, as well as in real estate finance and the capital markets, and within real estate permitting and transactional law.
About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company's focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com. Follow us on Twitter at @RBJ_Partners.
Editor's Note: On September 9, 2013, Houston-based Transwestern announced the acquisition of Richards Barry Joyce & Partners. Richards Barry Joyce & Partners will begin operating as Transwestern RBJ on November 1, 2013.