Acquisitions

Commercial Asset Advisors Arranges $6.3M Sale of Office Building in National City, California

by Amy Works July 1, 2022

NATIONAL CITY, CALIF. — Commercial Asset Advisors has brokered the sale of an office property located at 22 W. 35th St. in National City. SCOS LP sold the building to Strong Tower LP for $6.3 million. Mike Conger and Brian Jenkins of Commercial Asset Advisors represented the seller, while Shirley Kanamu and Valley Coleman of Pacific Coast Commercial represented the buyer in the deal. The property features 19,917 square feet of Class B office space with high visibility and convenient freeway access.

July 1, 2022

Acquisitions California Retail Western

CBM1 Brokers $2.9M Sale of Retail Strip Center in Oxnard, California

by Amy Works July 1, 2022

OXNARD, CALIF. — CBM1 has facilitated the sale the of a retail strip center located at 3450-3460 Saviers Road in Oxnard. Rick Rivera of CBM1 represented the seller in the deal. The names of the buyer and seller were not released. Situated on a half-acre lot, the property features a 7,300-square-foot retail building with four tenant units. At the time of sale, the asset was 100 percent occupied. Tenants include Little Caesars, a market, laundromat and nail salon.

July 1, 2022

Acquisitions Industrial North Carolina Southeast

JLL Brokers Sale of 475,901 SF Distribution Center in North Carolina’s Triad Region

by John Nelson July 1, 2022

WHITSETT, N.C. — JLL has brokered the sale of Greensboro I-40 Logistics Center, a newly built, 475,901-square-foot distribution center located in the Triad community of Whitsett. The Class A property is situated on 47.2 acres along the I-40 corridor near Greensboro, N.C. The developer, Atlanta-based Intersect Development Group, sold Greensboro I-40 Logistics Center to BentallGreenOak for an undisclosed price. Luis Castillo, Patrick Nally, Britton Burdette and Cody Brais of JLL represented the seller in the transaction. Paul Spellman, Taylor Allison and Emma Buch, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of BentallGreenOak.

July 1, 2022

Acquisitions Illinois Industrial Midwest

NAI Hiffman Brokers Sale of Seven-Building Industrial Portfolio in Metro Chicago

by Kristin Harlow July 1, 2022

CHICAGO — NAI Hiffman has brokered the sale of the Chicago Strategic Logistics Portfolio for an undisclosed price. The seven-building portfolio totals 1.4 million square feet. The assets are located throughout metro Chicago and are fully leased by 12 tenants. Patrick Sullivan and Ryan Chambers of NAI Hiffman represented the undisclosed seller. The buyer was Ascendas Real Estate Investment Trust, a member of CapitaLand Investments, which is headquartered in Singapore.

July 1, 2022

Acquisitions Industrial Texas

Fort Capital Buys 459,812 SF Light Industrial Portfolio in Northwest Houston

by Taylor Williams July 1, 2022

HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a portfolio of 19 light industrial buildings totaling 459,812 square feet in northwest Houston. At the time of sale, the Class B portfolio was 98 percent leased to 93 tenants in the mechanical, logistics, furniture and fabrication sectors, among others. The seller and sales price were not disclosed.

July 1, 2022

Acquisitions Illinois Midwest Retail

Baum Realty Arranges $3.8M Sale of Retail Center in Streamwood, Illinois

by Kristin Harlow July 1, 2022

STREAMWOOD, ILL. — Baum Realty Group LLC has arranged the sale of the Emerald Hills Shopping Center in the Chicago suburb of Streamwood for $3.8 million. The 20,604-square-foot property, located on South Sutton Road, is fully leased to local and national retailers. Patrick Forkin of Baum represented the seller, a family office. The center was encumbered by a CMBS loan, which the undisclosed buyer assumed at closing.

July 1, 2022

Acquisitions Multifamily Texas

Walker & Dunlop Brokers Sale of 200-Unit Multifamily Property in Richwood, Texas

by Taylor Williams July 1, 2022

RICHWOOD, TEXAS — Walker & Dunlop has brokered the sale of East Bank at Richwood Village, a 200-unit multifamily property located south of Houston in Brazoria County. According to Apartments.com, the property offers one-, two- and three-bedroom units and a pool, fitness center, business center and a resident clubhouse. Ryan Epstein and Jennifer Ray of Walker & Dunlop represented the seller, Pensam Capital, in the transaction.

July 1, 2022

Acquisitions Industrial Texas

Realterm Acquires 186,344 SF Distribution Center Leased to Amazon in Arlington

by Taylor Williams July 1, 2022

ARLINGTON, TEXAS — Global investment manager Realterm has acquired a 186,344-square-foot distribution center in Arlington that is leased to Amazon on a triple-net basis. The facility was originally built on 15.5 acres in 1987 and was upgraded in 2020 to support last-mile distribution. Building features now include 29-foot clear heights, 10 dock-high doors and 338 van parking spaces. John Huguenard, Dustin Volz, Trent Agnew, Stephen Bailey, Dom Espinosa, Zach Riebe and Megan Babovec of JLL represented the seller, Oxford Properties, in the transaction.

July 1, 2022

Acquisitions Office Texas

Coldwell Banker Arranges Sale of 116,000 SF Office Building in Lubbock

by Taylor Williams July 1, 2022

LUBBOCK, TEXAS — Coldwell Banker Commercial has arranged the sale of Pyramid Plaza, a 116,000-square-foot office building in Lubbock. A locally based investment group doing business as Pyramid Plaza Office Building LP purchased the building for an undisclosed price with plans to implement a value-add program. Jordan Wood and Taylor Tucker of Coldwell Banker represented the buyer in the transaction. Scott Womack and Darrell Betts of Avison Young represented the seller, Gemini Rosemont Real Estate.

July 1, 2022

Acquisitions Life Sciences Massachusetts Northeast

Diversified Healthcare Trust Sells Stake in Boston Life Sciences Complex for $108M

by Taylor Williams July 1, 2022

BOSTON — Diversified Healthcare Trust (NASDAQ: DHC) has sold a 10 percent equity interest in a two-building life sciences complex located at 11 Fan Pier and 50 Northern Ave. in Boston’s Seaport District for $108 million. The property comprises two 15-story buildings with a combined 1.1 million square feet of lab, office and retail space. The locally based REIT, which still owns another 10 percent stake, sold its interest to an existing joint venture partner that now owns 45 percent of the property. Diversified Healthcare Trust intends to use the proceeds from the sale to fund capital expenditures, reduce outstanding indebtedness and address other general business needs. At the time of sale, the property was 95 percent leased to Vertex Pharmaceuticals.

July 1, 2022

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