Acquisitions

Syndicated Equities Acquires 111,500 SF Office Building in Oklahoma City

by Taylor Williams October 6, 2022

OKLAHOMA CITY — Chicago-based investment firm Syndicated Equities has acquired a 111,500-square-foot office building in Oklahoma City’s Automobile Alley neighborhood. The seven-story building was constructed in 2020 as a build-to-suit for the corporate headquarters of financial technology firm Heartland Payment Systems, which occupies the entire property on a net-lease basis. The seller and sales price were not disclosed. Old Second National Bank and Gateway First Bank provided acquisition financing for the deal.

October 6, 2022

Acquisitions Multifamily Northmarq Texas

Northmarq Brokers Sale of 61-Unit Aviation Place Apartments in Universal City, Texas

by Taylor Williams October 6, 2022

UNIVERSAL CITY, TEXAS — Northmarq has brokered the sale of Aviation Place, a 61-unit apartment complex in Universal City, located northeast of San Antonio. According to Apartments.com, the property was delivered in 1961 and offers one- and two-bedroom units. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented the buyer, Raybec Investment Group, in the transaction. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.

October 6, 2022

Acquisitions Industrial Texas

Partners Arranges Sale of 19,598 SF Industrial Property in Marshall, Texas

by Taylor Williams October 6, 2022

MARSHALL, TEXAS — Partners, the firm formerly known as NAI Partners, has arranged the sale of a 19,598-square-foot industrial property located at 281 Gateway Park Road in Marshall, located near the Texas-Louisiana border. The sale included nine acres of undeveloped land. Josh Lass-Sughrue of Partners represented the seller, an entity doing business as Davis Property Partnership LLC, in the transaction. Colten Courtney, Brett Lum and Carlos Marquez, also with Partners, represented the buyer, R&S Empire Properties LLC.

October 6, 2022

Canter-Green-Apartments-Union-New-Jersey

Acquisitions Multifamily New Jersey Northeast

CBRE Negotiates Sale of 153-Unit Canter Green Apartments in Union, New Jersey

by Taylor Williams October 6, 2022

UNION, N.J. — CBRE has negotiated the sale of Canter Green, a 153-unit apartment complex located in the Northern New Jersey community of Union. The property was built on six acres in 2021 and offers one-, two- and three-bedroom units. Amenities include a pool, lounges, fitness center, sport simulator, game room and a dog run. Jeff Dunne, Stuart MacKenzie, Zach McHale and Travis Langer of CBRE represented the seller, RMS Cos., in the transaction. The team also procured the buyer, Atlanta-based Invesco Real Estate.

October 6, 2022

Acquisitions New Hampshire Northeast Retail

Atlantic Capital Partners Arranges Sale of Former Sears Building in Newington, New Hampshire

by Taylor Williams October 6, 2022

NEWINGTON, N.H. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a 127,058-square-foot retail building formerly occupied by Sears in Newington, located in the southeastern part of the Granite State. The building is situated within Fox Run Mall. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

October 6, 2022

Acquisitions Multifamily Southeast Tennessee

Newmark Brokers $96.5M Sale of Alta Union Apartments in Nashville’s The Nations Neighborhood

by John Nelson October 6, 2022

NASHVILLE, TENN. — Newmark has brokered the $96.5 million sale of Alta Union, a newly constructed, 283-unit apartment community located at 5800 Centennial Blvd. in Nashville. Weinstein Properties purchased the property from the developer, Wood Partners. Tarek El Gammal and Vincent Lefler of Newmark represented the seller in the transaction. Located in The Nations neighborhood, Alta Union features a two-story clubhouse with outdoor terraces on the second level, a swimming pool, courtyard, private offices for rent and individual and group coworking spaces.

October 6, 2022

Acquisitions Industrial Leasing Activity Southeast Virginia

Cushman & Wakefield | Thalhimer Secures $20M Sale-Leaseback of Distribution Center in Norfolk

by John Nelson October 6, 2022

NORFOLK, VA. — Cushman & Wakefield | Thalhimer has secured the $20 million sale-leaseback of a 346,000-square-foot distribution facility located at 1129 Production Road in Norfolk. The undisclosed seller leased back a portion of the property, which is situated on a 18.3-acre site within Norfolk Industrial Park. An entity doing business as 1129 Production Road LLC purchased the property as part of a 1031 exchange. Clark Simpson, Erik Conradi, Geoff Poston and Clay Culbreth of Thalhimer represented the buyer in the transaction. Poston is the exclusive leasing representative for the property and is marketing the remaining industrial space for lease. Christina Erman, also with Thalhimer, has been named portfolio manager of the facility.

October 6, 2022

Acquisitions Indiana Industrial Midwest North Dakota Ohio

Provender Partners Buys 483,000 SF Refrigerated Warehouse Portfolio Across Four States for $29.9M

by Kristin Harlow October 6, 2022

NEWPORT BEACH, CALIF. — Newport Beach-based Provender Partners has purchased a four-property food production and distribution portfolio totaling 483,000 square feet from SpartanNash for $29.9 million. The portfolio is made up of four temperature-controlled buildings. These include a 171,371-square-foot food processing and distribution facility in Indianapolis; a 160,986-square-foot food distribution facility in Minot, N.D.; a 103,838-square-foot grocery distribution property in Newcomerstown, Ohio; and a 42,124-square-foot frozen and refrigerated distribution building in Lakeland, Fla. All of the buildings were constructed between 1990 and 2005 and feature clear heights of 30 feet or higher. Provender plans a multi-million-dollar capital improvements program across the portfolio, including a full refrigeration refit, roof repairs, and interior and exterior upgrades to meet the demands of today’s food companies. Chuck Rosien of JLL represented the seller. With this acquisition, Provender has purchased 1.8 million square feet of cold storage and temperature-controlled facilities in 2022.

October 6, 2022

Acquisitions Hospitality Illinois Midwest

Partnership Acquires 254-Room Marriott Suites Hotel in Downers Grove, Illinois

by Kristin Harlow October 6, 2022

DOWNERS GROVE, ILL. — A partnership between Frontier Development & Hospitality Group LLC, Sun Development & Management Corp. and 3H Group Inc. has acquired the 254-room Chicago Marriott Suites Downers Grove hotel. The seven-story hotel is located at 1500 Opus Place in the Chicago suburb of Downers Grove. Amenities at the property include 3,400 square feet of meeting space, indoor and outdoor pools, a fitness center, restaurant and bar, onsite parking and in-room dining. The hotel is scheduled to undergo a $10 million capital improvements plan. The seller and sales price were undisclosed.

October 6, 2022

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 21,571 SF Retail Center in Chicago’s Beverly Neighborhood

by Kristin Harlow October 6, 2022

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of Shops of Beverly, a 21,571-square-foot retail center in Chicago’s Beverly neighborhood. The fully leased property is home to tenants such as Chipotle, Chase Bank and For Eyes. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, Sperry Equities. A private investor purchased the asset for an undisclosed price.

October 6, 2022

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