Acquisitions

EQT Exeter Acquires 380-Unit Multifamily Property in Suburban Chicago

by Kristin Harlow July 14, 2022

WEST DUNDEE, ILL. — EQT Exeter’s U.S. multifamily team has acquired Reserve Randall Road in West Dundee, a far northwest suburb of Chicago. The purchase price was undisclosed. The 380-unit multifamily property, located at 400 Randall Road, comprises 19 buildings. Amenities include a clubhouse, fitness center, pool, grilling station, dog park and entertainment lounges. The seller, Milwaukee-based Fiduciary Real Estate Development, developed the community in two phases. Phase I was completed in 2021 and consists of 300 units, while Phase II was completed earlier this year. EQT Exeter plans to make certain enhancements to the property, including upgrading the outdoor grill area and dog park, the addition of a cabana to the pool area and the implementation of a KeyTrak management system as well as various upgrades to the parking lot, sidewalks and landscaping. EQT Exeter’s property management company, Redwood Residential, will manage the property.

July 14, 2022

Acquisitions Multifamily Texas

S2 Capital Acquires 4,455-Unit Multifamily Portfolio in Dallas-Fort Worth, Houston

by Taylor Williams July 14, 2022

DALLAS — Locally based investment firm S2 Capital has acquired a portfolio of 14 multifamily properties totaling 4,455 units that are located in various cities throughout the Dallas-Fort Worth (DFW) metroplex as well as in Houston. The DFW component of the portfolio totals 3,399 units, and the Houston portion comprises 1,056 units. All properties were built between 1979 and 1987. Mark Brandenburg, Lauren Dow and Michael Cosby of JLL, along with Lauren Bresky and Loren Heikenfeld of Northmarq, arranged debt financing for the transaction. Roberto Casas, Rob Key, Matthew Lawton and Dustin Selzer with JLL, as well as Taylor Snoddy with Northmarq, brokered the sale. The seller was not disclosed. S2 Capital plans to extensively renovate and enhance the unit interiors, building exteriors and amenity spaces at all of the properties.

July 14, 2022

Acquisitions Illinois Industrial Midwest

Cresa Brokers Sale-Leaseback of 58,000 SF Industrial Building in Franklin Park, Illinois

by Kristin Harlow July 14, 2022

FRANKLIN PARK, ILL. — Cresa has brokered the sale-leaseback of a 58,000-square-foot industrial building in the Chicago suburb of Franklin Park for an undisclosed price. The property at 11058 Addison Ave. features a clear height of 20 feet, five docks and parking for 50 cars. Ed Lowenbaum of Cresa represented the seller, ConCan II, an affiliated party to the tenant, Alliance Paper and Foodservice Equipment. Clear Height Properties was the buyer. Alliance Paper, which has occupied the building since 2002, signed a lease for roughly 55 percent of the building. The remainder of the facility will become vacant effective Monday, Aug. 1.

July 14, 2022

Acquisitions New Jersey Northeast Office

Cantor Fitzgerald Acquires Northern New Jersey Office Building for $131.7M

by Taylor Williams July 14, 2022

NUTLEY, N.J. — Global investment firm Cantor Fitzgerald has acquired 200 Metro Boulevard, a 300,000-square-foot office building in the Northern New Jersey community of Nutley, for $131.7 million. The building is located within Prism Capital Partners’ 116-acre ON3 campus, which is a redevelopment of the former North American headquarters site of Swiss pharmaceutical company Hoffman-La Roche. The building also serves as the U.S headquarters of Japanese pharmaceutical giant Eisai Inc., which relocated some 1,200 employees to the ON3 campus in 2020. Eastdil Secured represented Prism Capital Partners in the sale. Other tenants at ON3 include Quest Diagnostics, Ralph Lauren Corp., the Hackensack-Meridian School of Medicine and Seton Hall University’s Graduate College of Nursing & School of Health & Medical Sciences.

July 14, 2022

Acquisitions New Jersey Northeast Retail

Stan Johnson Co. Arranges $56M Sale of Central New Jersey Shopping Center

by Taylor Williams July 14, 2022

FRANKLIN PARK, N.J. — Oklahoma-based brokerage firm Stan Johnson Co. has arranged the $56 million sale of Franklin Towne Center, a 138,000-square-foot shopping center in Central New Jersey. Grocer Stop & Shop anchors the center, which was built on 14 acres in 1990. Isaiah Harf of Stan Johnson Co. represented the seller, a New York-based developer, in the transaction. The buyer was a New Jersey-based investment firm. Both parties involved in the deal requested anonymity.

July 14, 2022

Acquisitions New York Northeast Retail

Northeast Capital Group Buys Shopping Center in West Haverstraw, New York, for $26.5M

by Taylor Williams July 14, 2022

WEST HAVERSTRAW, N.Y. — An affiliate of locally based investment and management firm Northeast Capital Group has purchased Samsondale Plaza, a 156,185-square-foot shopping center in West Haverstraw, about 35 miles north of New York City, for $26.5 million. Anchored by grocer Stop & Shop, the property also houses tenants such as Dollar Tree, Advance Auto, Sports Clips and Sally Beauty Supply. Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn, Austin Pierce and Andrew Scandalios of JLL represented the seller, a joint venture between investment and development firm Mark Holdings and Connecticut-based Paragon Realty Group, in the transaction.

July 14, 2022

Acquisitions Office Texas

Swig Co. Sells 536,000 SF Office Building Leased to Fossil Group in North Dallas

by Taylor Williams July 13, 2022

DALLAS — The Swig Co., a San Francisco-based owner-operator, has sold a 536,000-square-foot office building located at 901 S. Central Expressway in North Dallas. The four-story building sits on 20 acres and serves as the headquarters of fashion design and manufacturing company Fossil Group. Andrew Levy of JLL represented Swig Co. in the transaction. The buyer and sales price were not disclosed.

July 13, 2022

Acquisitions Development Hospitality Midwest Multifamily Wisconsin

Repvblik Purchases Madison Plaza Hotel in Wisconsin, Plans Conversion to Workforce Housing

by Kristin Harlow July 13, 2022

MADISON, WIS. — Repvblik LLC has purchased the Madison Plaza Hotel in Madison for an undisclosed price and plans to convert the hotel into workforce housing. Repvblik intends to fully renovate and repurpose the property into roughly 155 to 190 affordable studio and one-bedroom units. Completion is slated for 2023. Repvblik builds workforce housing for renters who earn 60 to 120 percent of the area median income (AMI). At the Madison property, rents will be affordable for those who earn 60 percent of AMI. In cooperation with HotelBrokerOne, Jameson & Co. brokered the sale of the 197-room hotel. Construction is expected to last 10 to 12 months.

July 13, 2022

Acquisitions Industrial Iowa Midwest

Stan Johnson Co. Brokers $8.3M Sale of Iowa Manufacturing Facility

by Kristin Harlow July 13, 2022

MONTEZUMA, IOWA — Stan Johnson Co. has brokered the $8.3 million sale of a 194,267-square-foot manufacturing facility in Montezuma, a city in Iowa located about midway between Des Moines and Iowa City. The single-tenant building is leased to Dieomatic Inc., a subsidiary of Magna International, which is a global automotive supplier. Rob Gemerchak of Stan Johnson represented the seller, a New York-based private investment firm. An individual investor based in Des Moines was the buyer.

July 13, 2022

Acquisitions Illinois Midwest Retail

AmCap Acquires Hoffman Plaza Shopping Center in Suburban Chicago

by Kristin Harlow July 13, 2022

HOFFMAN ESTATES, ILL. — AmCap Inc. has acquired Hoffman Plaza in the Chicago suburb of Hoffman Estates for an undisclosed price. Jewel-Osco and Burlington anchor the 146,263-square-foot shopping center. AmCap purchased Hoffman Plaza in a joint venture with Encore Enterprises. The property is more than 96 percent leased.

July 13, 2022

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