Acquisitions

Norris & Stevens Brokers $5.5M Sale of Industrial Building in Clackamas, Oregon

by Amy Works October 5, 2022

CLACKAMAS, ORE. — Norris & Stevens has arranged the sale of the 98th & Lawnfield building, an industrial/flex property located at 14200 SE 98th Court in Clackamas. An undisclosed buyer acquired the asset from 14200 SE 98th LLC and BF Lawnfield for $5.5 million. Constructed in 1998, the five-tenant 26,219-square-foot flex facility features abundant parking, five drive-in doors and a 17-foot clear height. Additionally, the building has easy access to Interstate 205, Highway 224 and Highway 212. Greg Nesting and Gabe Schnitzer of Portland-based Norris & Stevens represented the buyer and seller in the deal.

October 5, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Negotiates Sale of 648-Unit Self-Storage Facility in Metro Houston

by Taylor Williams October 5, 2022

CYPRESS, TEXAS — Marcus & Millichap has negotiated the sale of AllSafe Storage, a 648-unit self-storage facility located northwest of Houston in Cypress. The facility comprises 354 climate-controlled units, 107 non-climate-controlled units and 187 outdoor storage spaces for a total of 59,625 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Texas-based limited liability company, in the deal. The duo also secured the buyer, a national REIT. Both parties requested anonymity.

October 5, 2022

Acquisitions Kansas Midwest Multifamily Northmarq

Northmarq Arranges $11.5M Sale of Apartment Building in Lawrence, Kansas

by Kristin Harlow October 5, 2022

LAWRENCE, KAN. — Northmarq has arranged the sale of 901 Lofts in Lawrence for $11.5 million. The apartment building rises seven stories with 55 units. Built in 2011, the property at 901 New Hampshire St. includes 20,843 square feet of commercial space. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, First Management Inc. Buyer information was not provided.

October 5, 2022

Richland-Marketplace-Quakertown-Pennsylvania

Acquisitions Northeast Pennsylvania Retail

FNRP Acquires 162,000 SF Richland Marketplace in Quakertown, Pennsylvania

by Taylor Williams October 5, 2022

QUAKERTOWN, PA. — New Jersey-based investment firm First National Realty Partners (FNRP) has acquired Richland Marketplace, a 162,000-square-foot shopping center in Quakertown, about 50 miles north of Philadelphia. Built in 2009, the center houses tenants such as Aldi, Best Buy, PetSmart, Planet Fitness, Staples, Ulta, Visionworks, Sally Beauty and Skechers. Colin Behr, Jim Galbally, Chris Munley and James Graf of JLL represented the seller, KPR, in the transaction.

October 5, 2022

Acquisitions Midwest Ohio Retail

PEBB Enterprises Sells Retail Center Near Columbus for $10M

by Kristin Harlow October 5, 2022

GAHANNA, OHIO — PEBB Enterprises has sold Hunter’s Ridge Shopping Center in Gahanna near Columbus for $10 million. WB Ventures LLC purchased the 84,724-square-foot retail center, which is 93 percent leased. Planet Fitness and Goodwill are the anchor tenants. PEBB acquired the asset in 2018. The property was originally built in 1975. Evan Halkias and Hank Davis of Cushman & Wakefield represented PEBB in the sale.

October 5, 2022

Acquisitions Illinois Industrial Midwest

Clear Height Properties Acquires 34,700 SF Industrial Building in Addison, Illinois

by Kristin Harlow October 5, 2022

ADDISON, ILL. — Clear Height Properties has acquired a 34,700-square-foot industrial building in Addison, a western suburb of Chicago, for an undisclosed price. The property at 1404 W. Fullerton Ave. features convenient access to I-355 between I-290 and Route 83. The facility features six exterior docks, seven drive-thru service bays and an additional 1.5 acres of secured land for outdoor storage or trailer parking. Nick Saraceno and Howard Caplan of CTK Chicago Partners represented the undisclosed seller. Robin Stolberg and Dominic Carbonari of JLL are marketing the property for lease.

October 5, 2022

Acquisitions Illinois Midwest Restaurant Retail

Marcus & Millichap Brokers $1.9M Sale of Chili’s Ground Lease in Plainfield, Illinois

by Kristin Harlow October 5, 2022

PLAINFIELD, ILL. — Marcus & Millichap has brokered the $1.9 million sale of a Chili’s ground lease in Plainfield, about 40 miles southwest of Chicago. The restaurant building spans 6,150 square feet. The property at 12740 Illinois Route 59 is situated near Target, Ross Dress for Less and Five Below stores. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an individual trust. The duo also secured and represented the buyer, a Chicagoland private investor and limited liability company. The property sold at the full list price.

October 5, 2022

Acquisitions Industrial Maine Northeast Self-Storage

Marcus & Millichap Brokers Sale of 157-Unit Self-Storage Facility in Richmond, Maine

by Taylor Williams October 5, 2022

RICHMOND, MAINE — Marcus & Millichap has brokered the sale of Mid-Maine Storage, a 157-unit self-storage facility located on the southern outskirts of Augusta. The property comprises 154 non-climate-controlled units and three garage units for a total of 17,410 net rentable square feet. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Jim Koury of Marcus & Millichap assisted in closing the deal as the broker of record.

October 5, 2022

Acquisitions Development Florida Mixed-Use Restaurant Retail Southeast

BSD Capital to Redevelop 148,857 SF Former Sears Department Store and Automotive Center in Ocala, Florida

by John Nelson October 5, 2022

OCALA, FLA. — BSD Capital recently purchased a former Sears department store and Sears Automotive Center in Ocala spanning 148,857 square feet. An affiliate of Seritage Growth Properties, the spun-off REIT from Sears Holding Corp., sold the buildings at a private auction for $3.2 million. Louie Granteed of Tobin Real Estate represented BSD Capital in the acquisition and is leading leasing efforts for the new owner’s redevelopment that will convert the property to a retail and entertainment destination. Granteed says that prospective tenants for the redevelopment include grocers, big-box retailers and entertainment operators. Located on 12 acres near I-75, the former Sears once served as an anchor to Paddock Mall, an enclosed regional mall that is still open and operating with tenants including Belk, Macy’s, JCPenney and more than 90 specialty stores.

October 5, 2022

Acquisitions Build-to-Rent Georgia Multifamily Single-Family Rental Southeast

Berkadia Brokers $73M Sale of Build-to-Rent Residential Property in Savannah

by John Nelson October 5, 2022

SAVANNAH, GA. — Berkadia Institutional Solutions has brokered the $73 million sale of Beacon Place Godley Station, a 252-unit build-to-rent multifamily community located at 165 W. Mulberry Blvd. in Savannah. Russ Hardy of Berkadia’s Atlanta office represented the unnamed seller in the transaction. Washington-based Wilkinson Corp. purchased the property, which features one-, two- and three-bedroom single-family rental homes. Amenities include a swimming pool, fitness center and a business center. Richard Levine of Berkadia’s Atlanta office arranged a $51 million, three-year acquisition loan through Bridge Investment Group on behalf of Wilkinson Corp.

October 5, 2022

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