Acquisitions

Dalfen Industrial Buys 86,680 SF Property in San Diego from Alcion Ventures, LPC West

by Amy Works July 18, 2022

SAN DIEGO — Dalfen Industrial has acquired a freestanding industrial building, located at 7615 Siempre Viva Road in San Diego’s Otay Mesa submarket. A partnership between Alcion Ventures and Lincoln Property Co. West sold the asset for $24.8 million. Mark Lewkowitz and Chris Holder of Colliers represented the buyer and seller in the deal. Totaling 86,680 square feet, the building is divisible by 45,180 square feet and features 20 dock-high doors, two grade-level roll-up doors, a sprinkler system, 27- to 28-foot clear heights, 1,500 amps, a 180-foot truck court and 6,950 square feet of office space.

July 18, 2022

Acquisitions Arizona Office Western

BatchService Acquires Office Building in Tempe, Arizona for $8.8M

by Amy Works July 18, 2022

TEMPE, ARIZ. — BatchService has purchased an office property, located at 4625 S. Wendler Drive in Tempe, for $8.8 million. BatchService is a software company that provides an all-in-one prospecting platform for residential real estate investors, agents and brokers. Built in 1985 and renovated in 2016, the two-story building offers 44,000 square feet of useable office space. The property is currently undergoing tenant improvements for additional offices, new paint and new flooring. Eddie Gonzalez of SVN Desert Commercial Advisors represented the buyer in the transaction.

July 18, 2022

Acquisitions Colorado Multifamily Western

Capstone Brokers $7.1M Sale of Gabion Apartments in Colorado Springs

by Amy Works July 18, 2022

COLORADO SPRINGS, COLO. — Capstone has brokered the sale of The Gabion Apartments, a multifamily building located at 676 W. Monument St. in Colorado Springs. The property traded for $7.1 million. Pat Knowlton of Capstone represented the undisclosed seller, while Jeff Dimmen, also of Capstone, represented the undisclosed buyer in the deal. Built in 2015, Gabion Apartments features 20 units. At the time of sale, the property was fully leased.

July 18, 2022

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

Berkadia Negotiates $75M Sale of Built-to-Rent Community in Flagstaff, Arizona

by Amy Works July 15, 2022

FLAGSTAFF, ARIZ. — Berkadia has arranged the sale of The Overlook at Buffalo Park, a built-to-rent multifamily property at 1651 N. Gemini Drive in Flagstaff. Georgia-based St. Clair Holdings sold the asset to San Diego-based Logan Capital Advisors for $75 million. Built in 2021, The Overlook at Buffalo Park features 155 rental homes in a mix of one-, two- and three-bedroom cottage-style designs. The homes feature largely detached floor plans with vaulted ceilings, front porches and stainless steel appliances, including full-size washers and dryers. Community amenities include a clubhouse with porch seating, two pet parks, a dog washing station, fire pits and a fitness center. Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix represented the seller in the deal.

July 15, 2022

Acquisitions California Mixed-Use Office Retail Western

Bolour Associates Acquires 32,500 SF Mixed-Use Building in Hollywood

by Amy Works July 15, 2022

LOS ANGELES — Bolour Associates has purchased a two-story, mixed-use building located at 6432 Santa Monica Blvd. in the Hollywood neighborhood of Los Angeles for $13.7 million, or $421 per square foot. Totaling 32,500 square feet, the property features 17,500 square feet of ground-floor retail space and 15,000 square feet of second-story office space. At the time of sale, the property was 100 percent occupied by tenants ranging from creative management and casting to production equipment rentals and photography studios. Brandon Michaels, Matthew Luchs and Andrew Leff of Marcush & Millichap represented the buyer and undisclosed seller in the deal.

July 15, 2022

Acquisitions California Industrial Western

CenterSquare, RAF Pacifica Group Sell 202,844 SF Industrial Facility in Vista, California

by Amy Works July 15, 2022

VISTA, CALIF. — A joint venture between CenterSquare and RAF Pacifica Group has completed the disposition of 1 Viper Way, an industrial property located in Vista. BLT Enterprises acquired the asset for an undisclosed price. Totaling 202,822 square feet, the facility features 28-foot clear heights, 20 dock-high doors, 16 grade-level doors, heavy power and ample skylights to provide natural light and energy efficiencies. At the time of sale, the property was fully leased to two tenants. Cushman & Wakefield advised CenterSquare and RAF Pacifica Group in the initial acquisition in 2021, as well as the lease-up and sale of the property.

July 15, 2022

Acquisitions Colorado Retail Western

Marcus & Millichap Brokers $6.1M Sale of Highlands Ranch Marketplace in Colorado

by Amy Works July 15, 2022

HIGHLANDS RANCH, COLO. — Marcus & Millichap has arranged the sale of Highlands Ranch Marketplace, a neighborhood retail center in Highlands Ranch. Sidford Capital acquired the asset for $6.1 million. Located at 9385 S. Colorado Blvd., Highland Ranch Marketplace was fully leased to 10 tenants at the time of sale. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, a Colorado-based private investor, and procured the buyer in the transaction.

July 15, 2022

Acquisitions Life Sciences Maryland Office Southeast

CBRE Negotiates $25.5M Sale of Office Complex in Rockville, Maryland

by John Nelson July 15, 2022

ROCKVILLE, MD. — CBRE has negotiated the $25.5 million sale of Research Square, a two-building office complex located at 1500 and 1550 Research Blvd. in Rockville, a suburb of Washington, D.C. The seller is Westat, an employee-owned research company based in Rockville. Tommy Cleaver, Dan Grimes and Stuart Kenny of CBRE represented Westat in the transaction. The buyer was not disclosed. CBRE says that the properties, which were fully vacated at the time of sale, represent a “premier life sciences conversion opportunity” as the Washington-Baltimore Corridor ranked No. 2 in CBRE’s Life Sciences Research Talent 2022 report.

July 15, 2022

Acquisitions North Carolina Retail Southeast

Armada Hoffler Sells Two Single-Tenant Retail Properties in Durham for $23.9M

by John Nelson July 15, 2022

DURHAM, N.C. — Virginia Beach, Va.-based Armada Hoffler Properties has sold two single-tenant retail properties in Durham for a combined $23.9 million. The assets include a 120,000-square-foot store at 1700 N. Pointe Drive that is leased to The Home Depot and a 148,663-square-foot store at 1510 N. Pointe Drive leased to Costco. The adjacent, triple-net-leased stores are situated within two miles of Duke University and downtown Durham. Alex Sharrin, Alex Geanakos and Michael Roberts of JLL represented Armada Hoffler in the transaction. An unnamed investment firm based in New York City purchased both stores.

July 15, 2022

Acquisitions Georgia Multifamily Southeast

Berkadia Arranges $16.8M Sale of Terraces at Summerville Apartments in Augusta

by John Nelson July 15, 2022

AUGUSTA, GA. — Berkadia has arranged the $16.8 million sale of Terraces at Summerville, a 120-unit apartment community located at 817 Hickman Road in Augusta. Mark Boyce and Blake Coffey of Berkadia’s Charleston office represented the seller, Nebraska-based Burlington Capital Group, in the transaction. The buyer was Tennessee-based JBT Holdings. Built in 1972, Terraces at Summerville was 95 percent occupied at the time of sale. According to Apartments.com, the property features a pool, fitness center, laundry facilities, tennis court, clubhouse and picnic area.

July 15, 2022

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