Acquisitions

Epic Investments Sells Las Brisas de Cheyenne Apartments in Las Vegas for $40M

by Amy Works July 8, 2022

LAS VEGAS — Epic Investments has completed the sale of Las Brisas de Cheyenne, an apartment property located at 3985 E. Cheyenne Ave. in Las Vegas. Tides Equities acquired the asset for $40 million, or $227,272 per unit. Located in Las Vegas’ Sunrise Manor submarket, Las Brisas de Cheyenne features 176 apartments on nine acres. Built in 1999 and renovated in 2020, the two-story, garden-style apartment community offers one-, two- and three-bedroom floor plans with an average unit size of 720 square feet. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of Avison Young represented the seller in the deal.

July 8, 2022

Acquisitions California Civic Development Office Western

Partnering With Parents Buys Office Park in Oceanside for $11.8M, Plans Conversion to Charter School Campus

by Amy Works July 8, 2022

OCEANSIDE, CALIF. — Sunrise Capital has completed the disposition of a vacant office campus situated on six acres at 1305-1320 Union Plaza Court in Oceanside. Partnering With Parents, doing business as The Classical Academies, acquired the asset for $11.8 million. The buyer, an organization of tuition-free California public charter schools in North San Diego County, plans to convert the four-building, 99,968-square-foot office park into a school campus. Peter Curry, Jason Kimmel and Tim Winslow of Cushman & Wakefield represented the seller, while Jon Walters and Jim Benson of Kidder Mathews represented the buyer in the deal.

July 8, 2022

Acquisitions Arizona Industrial Western

Refrigeration Supplies Distributor Buys 40,794 SF Industrial Building in Phoenix

by Amy Works July 8, 2022

PHOENIX — Phoenix-based Refrigeration Supplies Distributor has purchased a freestanding industrial property, located at 3935 W. Adams St. in Phoenix. BECMED LLC sold the asset for $7.2 million in an off-market transaction. Michael Kitlica and Jason Ward of Cushman & Wakefield represented the buyer in the transaction. The 40,794-square-foot building features 24-foot clear heights, dock-high loading and a secured, fenced yard.

July 8, 2022

Acquisitions Multifamily Texas

GREA Negotiates Sale of 192-Unit Multifamily Property in Grand Prairie, Texas

by Taylor Williams July 8, 2022

GRAND PRAIRIE, TEXAS — Global Real Estate Advisors (GREA) has negotiated the sale of Vista Terraza, a 192-unit multifamily property located in the central metroplex city of Grand Prairie. According to Apartments.com, the property offers one-, two and three-bedroom units and amenities such as a pool, playground and onsite laundry facilities. A locally based seller sold the asset to a New Jersey-based investor, with both parties requesting anonymity. Mark Allen, Zac Thomas and Byron Griffith of GREA brokered the deal.

July 8, 2022

Acquisitions California Restaurant Retail Western

Hanley Investment Group Arranges $4.6M Sale of Starbucks-Occupied Building in Mojave, California

by Amy Works July 8, 2022

MOJAVE, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a new construction, single-tenant retail property located at 15652 Sierra Highway in Mojave. Phoenix-based Kaidence Group sold the asset to an Orange County-based private investor for $4.6 million. Starbucks Coffee occupies the 3,000-square-foot freestanding property that includes a café and drive-thru. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller in the deal.

July 8, 2022

Acquisitions Office Texas

Colliers Brokers Sale of 180,030 SF Office Building in North Houston

by Taylor Williams July 8, 2022

HOUSTON — Colliers has brokered the sale of a 180,030-square-foot office building located at 450 Gears Road in North Houston. The eight-story building, which was originally constructed on 4.5 acres in 1984, includes a four-story parking garage and a conference center. David Carter, Doug Pack and Sam Hansen of Colliers represented the seller in the transaction. Evens Grandoit of Krueger Real Estate represented the buyer. Both parties requested anonymity.

July 8, 2022

Acquisitions Illinois Midwest Retail

Inland Sells 29 CVS, Walgreens Properties Nationwide for $172.3M

by Kristin Harlow July 8, 2022

OAK BROOK, ILL. — Oak Brook-based Inland Private Capital Corp. (IPC) has sold 29 properties occupied by CVS and Walgreens across the country for $172.3 million. The separate transactions were completed over the course of five months. The sales included six CVS properties and 23 Walgreens assets totaling 398,040 square feet. IPC, through its subsidiary that serves as asset manager, facilitated the sales on behalf of nine IPC 1031 investment programs.

July 8, 2022

Acquisitions Industrial Midwest Wisconsin

Phoenix Investors Acquires Three Former Manufacturing Facilities in Wisconsin, North Carolina

by Kristin Harlow July 8, 2022

WISCONSIN AND NORTH CAROLINA — Affiliates of Phoenix Investors have acquired three former manufacturing facilities totaling more than 1 million square feet in Wisconsin and North Carolina. Phoenix plans to make various capital improvements to each facility in the coming months. The first property was formerly home to Silgan Container Manufacturing Corp. and is located at 500 Libby St. in Waupun, about 70 miles northwest of Milwaukee. The 260,000-square-foot building features 10 dock doors and a freight elevator. Scott Furmanski of CBRE brokered the sale. The second transaction involved a 375,000-square-foot facility formerly occupied by Eaton Corp. in Necedah, a city in central Wisconsin. Adam Matson and Patrick Hanrahan of Newmark represented the seller, MVP Logistics. The sales price was $3 million. The third facility is a 410,000-square-foot property formerly occupied by Alamac American Knits in Lumberton, a city in southern North Carolina. The property features manufacturing, warehousing and office space as well as parking for up to 650 vehicles. Thomas Turner of Newmark brokered the sale.

July 8, 2022

Acquisitions Industrial New Jersey Northeast

Faropoint Sells National Industrial Portfolio for $481M

by Taylor Williams July 8, 2022

HOBOKEN, N.J. — Northern New Jersey-based investment firm Faropoint has sold a national portfolio of 109 industrial properties totaling approximately 6.8 million square feet of $481 million. The properties are largely concentrated in Atlanta, Houston, Philadelphia and Memphis and feature an average building size of 62,000 square feet. At the time of sale, the portfolio was 98 percent leased to roughly 200 local, regional and national tenants. The buyer was not disclosed. Eastdil Secured served as Faropoint’s financial advisor on the deal.

July 8, 2022

Acquisitions Multifamily New Jersey Northeast

Cushman & Wakefield Brokers $51.7M Sale of Multifamily Property in Fort Lee, New Jersey

by Taylor Williams July 8, 2022

FORT LEE, N.J. — Cushman & Wakefield has brokered the $51.7 million sale of The Sterling, a 128-unit multifamily property located in the Northern New Jersey community of Fort Lee. The community’s unit mix consists of 14 studios, 56 one-bedroom apartments, 56 two-bedroom residences and two four-bedroom units. Communal amenities include an updated lobby, pool and laundry facilities. Niko Nicolaou, Brian Whitmer, Ryan Dowd and Will Gerlin of Cushman & Wakefield represented the undisclosed seller and procured the buyer, Blue Diamond Equities, in the transaction.

July 8, 2022

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