sales_and_leases

Eleven Food and Beverage Concepts Opening This Month at Toyota Music Factory in Irving

by Taylor Williams March 13, 2018

IRVING, TEXAS — Eleven new food-and-drink-based concepts will open this month at Toyota Music Factory, an entertainment destination located within the Las Colinas district in Irving. New restaurants include Highway 61 South, a barbecue restaurant; Kabuki, a Japanese restaurant; and Texas Jam House, an eatery specializing in Southern cuisine. Night club Martini Ranch and frozen fruit bar Pop Factory by Maxfrut, among others, will also open stores within the destination, which will ultimately consist of 500,000 square feet of retail, restaurant and office space. An eight-screen Alamo Drafthouse Cinema will also open at Toyota Music Factory in April.

March 13, 2018

Retail Texas

Basketball-Focused Fitness Chain Opens 16,936 SF Gym in Metro Dallas

by Taylor Williams March 13, 2018

COPPELL, TEXAS — PickUp USA Fitness, a fitness chain dedicated to basketball, has opened a 16,936-square-foot gym at Sandy Lake Business Center in Coppell, a northwestern suburb of Dallas. The location was formerly leased to a Taekwondo studio. The gym will feature weights and cardio machines in addition to numerous courts for pick-up games. Private lessons and classes are also available. Allyson Yost and Cole Hooper of Colliers International represented Mosely Basketball, the franchise operator of the Coppell gym, in the lease negotiations. Erik Blaise of Bradford Commercial Real Estate Services represented the landlord. PickUp USA Fitness also operates franchises in Arizona, Florida and Nevada.

March 13, 2018

Illinois Industrial Midwest

SVN | Chicago Brokers $1.4M Sale of Industrial Building in Lisle, Illinois

by Kristin Harlow March 13, 2018

LISLE, ILL. — SVN | Chicago Commercial has brokered the $1.4 million sale of a 22,839-square-foot industrial building in Lisle. The property is located at 1958 University Lane. John McDermott and Aidan Bowe of SVN represented the buyer, a Michigan-based electrical motor seller.

March 13, 2018

Arizona Office Western

Arch Street Capital Acquires 180,480 SF Office Property in Gilbert, Arizona

by Amy Works March 13, 2018

GILBERT, ARIZ. — Arch Street Capital Advisors, on behalf of an institutional client, has purchased El Dorado Tech Center in Gilbert for an undisclosed price. Scottsdale, Ariz.-based GoDaddy.com fully occupies the 180,480-square-foot office property. The name of the seller was not released.

March 13, 2018

Illinois Industrial Lee & Associates Midwest

Lee & Associates Brokers Sale of 225,006 SF Industrial Building in Elk Grove Village, Illinois

by Kristin Harlow March 12, 2018

ELK GROVE VILLAGE, ILL. — Lee & Associates has brokered the sale of a 225,006-square-foot industrial building in Elk Grove Village for an undisclosed price. The property is located at 1501 Nicholas Blvd. Chris Nelson, Ken Franzese and John Cassidy of Lee & Associates represented the seller, Prologis. Chris Volkert and Brendan Green of Colliers International represented the buyer, GHP Group Inc., a manufacturing company that specializes in electric fireplaces and accessories, portable heating and barbecue grill products.

March 12, 2018

Hospitality Maine Northeast

AAM 15 Management Acquires 99-Room Hotel in Downtown Freeport, Maine

by Kristin Harlow March 12, 2018

FREEPORT, MAINE — AAM 15 Management LLC has purchased Hilton Garden Inn Freeport Downtown for an undisclosed price. HFF arranged the sale. The 99-room hotel, located at 5 Park St., is the only hotel in its competitive set within walking distance of downtown Freeport, according to HFF. Completed in 2005, the hotel offers 7,500 square feet of meeting space, a restaurant, fitness center, indoor pool and car charging stations. Freeport is 18 miles north of Portland, Maine. Denny Meikleham, Alan Suzuki and Matthew Enright of HFF marketed the property on behalf of the private seller and procured the buyer. AAM 15 will manage the hotel.

March 12, 2018

Connecticut Multifamily Northeast

Chozick Realty Brokers Sale of 455-Unit Multifamily Portfolio for $48.2M

by Kristin Harlow March 12, 2018

GROTON, WALLINGFORD AND NEW LONDON, CONN. — Chozick Realty Inc. has brokered the sale of a five-property multifamily portfolio consisting of 455 units in Groton, Wallingford and New London for $48.2 million. Chozick Realty represented the seller, The Tree Group, in the transaction and procured the undisclosed buyer. Four complexes in the portfolio totaling 275 units are located in New London and Groton, in southeastern Connecticut midway between Boston and New York. The fifth property, totaling 180 units, is located in Wallingford, 14 miles north of New Haven. All five properties in the portfolio have full amenity packages including swimming pools, tennis courts, fitness centers, community rooms, walking trails and picnic areas.

March 12, 2018

Affordable Housing District of Columbia Multifamily Southeast

NHP Foundation Acquires Affordable Housing Community in D.C. for $44.6M

by Camren Skelton March 12, 2018

WASHINGTON, D.C. — The NHP Foundation (NHPF) has acquired Woodmont Crossing Apartments, a 176-unit affordable housing community in Washington, D.C., for $44.6 million. The District of Columbia Housing Finance Agency (DCFHA) provided a $25.5 million acquisition loan for NHPF through the U.S. Department of Housing and Urban Development (HUD). In addition, the Royal Bank of Canada provided $12.1 million in low-income housing tax credits (LIHTC) on behalf of the NHPF. The Woodmont Crossing United Tenants Association selected NHPF to acquire the property as part of the D.C. Tenant Opportunity to Purchase Act (TOPA). The deal marks NHPF’s fifth TOPA acquisition in the D.C. area. As part of the agreement, NHPF will invest $42,000 per unit to upgrade kitchen and bath areas, as well as making 5 percent of the units fully handicap accessible. The property was originally constructed in 2002. All of the units are reserved for residents earning 60 percent of the area median income (AMI).

March 12, 2018

Industrial Southeast Virginia

CBRE | Richmond Brokers $31.3M Sale of Industrial Park Near Richmond Airport

by Camren Skelton March 12, 2018

RICHMOND, VA. — CBRE | Richmond has brokered the $31.3 million sale of Byrd Corporate Park, a 10-building industrial park located at the intersection of South Laburnum Avenue and Charles City Road in Richmond. The 475,738-square-foot property is located less than two miles from Richmond International Airport. Will Bradley and Matt Anderson of CBRE | Richmond, Scott Adams of CBRE | Hampton Roads and Frank Fallon of CBRE’s Atlanta office arranged the transaction on behalf of the seller, a joint venture between Adler Real Estate Partners and Trigate Capital (AF Byrd Center VA LLC). WestDulles Station LLC, a joint venture between Dreyfuss Investments and Wells Holding Group, acquired the property. The buildings at Byrd Corporate Park were constructed between 1978 and 2003. At the time of sale, the industrial park was 80 percent leased to tenants such as McKesson, Fastenal, Wawa, CarMax and DPR.

March 12, 2018

California Multifamily Western

IPA Negotiates $50M Sale of Two-Property Multifamily Portfolio in Fairfield, California

by Amy Works March 12, 2018

FAIRFIELD, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a two-property multifamily portfolio located in Fairfield. Jackson Square Properties purchased the portfolio from Fairfield Quail Terrace and Fairfield Sheffield Greens for $50 million, or $185,450 per unit. The 268-unit portfolio consists of Avery Park Apartments and Bennington Apartments. Constructed in 1986, both properties feature park-like settings with landscaped greenbelts. Avery Park Apartments and Bennington Apartments offer one- and two-bedroom floor plans with average unit sizes of 884 square feet and 864 square feet, respectively. Salvatore Saglimbeni, Stanford Jones and Philip Saglimbeni of IPA represented the sellers in the transaction.

March 12, 2018

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