Acquisitions

Marcus & Millichap Arranges $2.4M Sale of Chick-fil-A Ground Lease in Metro Savannah

by John Nelson June 23, 2022

POOLER, GA. — Marcus & Millichap has arranged the $2.4 million sale of a Chick-fil-A ground lease located at 2100 Pooler Parkway in Pooler, about 12 miles west of Savannah’s downtown historic district. The 5,181-square-foot restaurant is currently underway on a 1.5-acre site, and Chick-fil-A has 15 years remaining on its lease. An out-of-state, privately held investor purchased the ground lease in an all-cash transaction at a 3.45 percent cap rate. The seller was not disclosed. Don McMinn and Brian Munn of Marcus & Millichap brokered the transaction. “This property was sold pre-construction eight months out from delivery,” says McMinn. “[The transaction] demonstrates the strong demand and aggressive pricing for quality net-lease assets.”

June 23, 2022

Acquisitions Arizona Development Industrial Top Stories Western

Creation Sells Industrial Building Near Phoenix for $130M, Plans 4.2 MSF New Development

by Jeff Shaw June 23, 2022

BUCKEYE, ARIZ. — Creation, a real estate development and alternative investment firm headquartered in Phoenix, has sold 10 West Commerce Park in the Phoenix suburb of Buckeye for $130 million. The seller says it’s the highest gross sales price for an industrial property in Buckeye’s history. The buyer was Los Angeles-based investment firm Cohen Asset Management. Funko, a toy company best known for its pop culture figurines, bobbleheads and other collectibles, fully occupies the 10 West property, signing the lease in advance of completion in 2021. The 860,602-square-foot asset serves as the company’s U.S. distribution center. Will Strong of Cushman & Wakefield’s Phoenix office brokered the sale transaction. “We are firm believers that the Buckeye industrial submarket will continue to mature and attract industry-leading organizations as it establishes its place among sought-after West Coast industrial development hubs,” says Brandon Delf, principal and co-chief investment officer with Cohen Asset Management. Simultaneously with the sale announcement, Creation unveiled plans for a new industrial development in Buckeye. Named Ten85, the proposal calls for 4.2 million square feet of speculative space on a 270-acre parcel. The planned Ten85 logistics park will include four buildings ranging in size from 650,000 to 1.2 million square feet …

June 23, 2022

Acquisitions Industrial Texas

Lee & Associates Brokers Sale-Leaseback of 165,000 SF Industrial Building in Coppell, Texas

by Taylor Williams June 22, 2022

COPPELL, TEXAS — Lee & Associates has brokered the sale-leaseback of a 165,000-square-foot industrial building located at 585 S. Royal Lane in northern central metroplex city of Coppell. Alex Wilson and Nathan Denton of Lee & Associates represented the buyer, Nuveen Real Estate, in the off-market transaction. The seller and tenant was Dexas International, a local manufacturer of kitchen tools and specialty gadgets.

June 22, 2022

Acquisitions Office Texas

Newmark Negotiates Sale of 156,104 SF One Mockingbird Plaza Office Building in Dallas

by Taylor Williams June 22, 2022

DALLAS — Newmark has negotiated the sale of One Mockingbird Plaza, a 156,104-square-foot office building located near Dallas Love Field Airport. Chris Murphy, Gary Carr, Robert Hill and Chase Tagen of Newmark represented the seller, TXRE Properties, in the transaction. The buyer and additional terms of sale were not disclosed. The newly renovated One Mockingbird Plaza was 94 percent leased at the time of sale.

June 22, 2022

Acquisitions Industrial Northeast Pennsylvania

Larken Associates Acquires 137,404 SF Industrial Complex Near Harrisburg

by Taylor Williams June 22, 2022

LEWISBERRY, PA. — New Jersey-based investment firm Larken Associates has acquired Fairview Industrial Park, a 137,404-square-foot complex in Lewisberry, a southern suburb of Harrisburg. The three-building complex was close to fully leased at the time of sale to tenants such as LeafGuard, Best Dressed Associates, Precision Pulley, Eastern Surfaces and Paul Davis Restoration. Buildings range in size from 16,800 to 61,714 square feet and feature clear heights of 18 feet. Gerry Blinebury and Brendan McGeary of Cushman & Wakefield represented the undisclosed seller in the transaction. Larken Associates was represented by its in-house brokerage division, Raider Realty.

June 22, 2022

Acquisitions Industrial Michigan Midwest

Sealy & Co. Acquires 600,000 SF Industrial Property in Romulus, Michigan

by Kristin Harlow June 22, 2022

ROMULUS, MICH. — Sealy & Co. has acquired AeroPlex One & Two, a 600,000-square-foot industrial property in Romulus. The purchase price was undisclosed. The two buildings feature clear heights of 30 feet, cross-dock configuration and ample truck and automobile parking. The property is located adjacent to the Detroit Metropolitan Wayne County Airport. Dan Labes of Newmark represented the seller and developer, Nemer Property Group.

June 22, 2022

Acquisitions Industrial New Jersey Northeast

NAI Hanson Brokers Sale of 54,000 SF Industrial Building in Mahwah, New Jersey

by Taylor Williams June 22, 2022

MAHWAH, N.J. — NAI James E. Hanson has brokered the sale of a 54,000-square-foot industrial building in Mahwah, located on the New York-New Jersey border. The building sits on six acres and features a clear height of 16 feet. Russ Verducci and Eric Demmers of NAI Hanson represented the seller, Hendon Realty Associates LLC, in the transaction. The name and representative of the buyer were not disclosed.

June 22, 2022

Acquisitions Healthcare Illinois Midwest

Baum Realty Negotiates $8.7M Sale of Urgent Care Facility in River Forest, Illinois

by Kristin Harlow June 22, 2022

RIVER FOREST, ILL. — Baum Realty Group LLC has negotiated the $8.7 million sale of an urgent care facility occupied by Loyola Medicine Immediate Care in River Forest, a western suburb of Chicago. The property, located at 7617 North Ave., features a lease guaranteed by Loyola University Health System, one of Chicagoland’s largest health systems. Loyola has more than nine years remaining on its lease. Patrick Forkin of Baum represented the buyer, a private local investor. The seller was not disclosed.

June 22, 2022

Acquisitions Illinois Industrial Midwest

Marcus & Millichap Brokers $5.2M Sale-Leaseback of Industrial Building in Niles, Illinois

by Kristin Harlow June 22, 2022

NILES, ILL. — Marcus & Millichap has brokered the sale-leaseback of a 56,261-square-foot industrial building in the Chicago suburb of Niles for $5.2 million. The property, located at 7760 N. Merrimac Ave., sold for above asking price. Constructed in 1975, the facility features a clear height of 18 feet, eight internal docks and one drive-in door. The tenant and seller, Quality Elevator Products Inc., had owned the building since 2004. Peter Doughty and Dylan Hyde of Marcus & Millichap represented Quality Elevator Products. The duo also procured the buyer, a real estate investment firm focused on industrial assets.

June 22, 2022

Acquisitions Indiana Industrial Midwest

MAG Capital Partners Purchases 38,250 SF Flex Industrial Facility in Elkhart, Indiana

by Kristin Harlow June 22, 2022

ELKHART, IND. — MAG Capital Partners LLC has purchased a 38,250-square-foot flex industrial facility in Elkhart for an undisclosed price. Built in 2014 and fully renovated in 2019, the property at 5155 Verdant Drive is home to Dometic’s Americas segment. Dometic provides products for use in recreational vehicles (RVs), boats and trucks. Elkhart is known as the “RV Capital of the World” and more than 85 percent of all RVs built in the United States are produced in Indiana, according to the RV Industry Association. Matt Deahl of Imperium Realty & Investments advised both the seller, Verdant Development, and MAG Capital Partners, which is a Fort Worth, Texas-based private investment firm founded by Dax Mitchell and Andrew Gi.

June 22, 2022

Newer Posts

Older Posts