Acquisitions

Hanley Investment Group Brokers $3.1M Sale of Retail Center in Zionsville, Indiana

by Kristin Harlow May 17, 2022

ZIONSVILLE, IND. — Hanley Investment Group Real Estate Advisors has brokered the $3.1 million sale of a two-tenant retail center spanning 11,400 square feet in Zionsville, a northern suburb of Indianapolis. Named Zionsville Station, the property is located at 10615 Zionsville Road. Tenants include Hotel Tango Whiskey, a local whiskey brand, and Pampered Pooch Resort and Spa. Dylan Mallory of Hanley represented the seller, Indiana-based Jackson Investment Group. Forest Bender of Marcus & Millichap represented the buyer, a metro Indianapolis-based private investor.

May 17, 2022

Acquisitions Illinois Midwest Retail

Marcus & Millichap Negotiates $2M Sale of Retail Property in Woodridge, Illinois

by Kristin Harlow May 17, 2022

WOODRIDGE, ILL. — Marcus & Millichap has negotiated the sale of Green Ridge Center in the Chicago suburb of Woodridge for $2 million. The 11,832-square-foot, multi-tenant retail property is located at 2800 75th St. The anchor tenant is Cellular Sales of Knoxville, a Verizon Wireless authorized retailer with more than 750 locations nationwide. Dominic Sulo and Samuel Malato of Marcus & Millichap represented the seller, a Georgia-based partnership. The duo also secured and represented the buyer, a Virginia-based limited liability company.

May 17, 2022

Acquisitions Connecticut Net Lease Northeast Retail

Marcus & Millichap Brokers $11.7M Sale of Two Connecticut Retail Properties Leased to Walgreens

by Taylor Williams May 17, 2022

MONROE AND NEWINGTON, CONN. — Marcus & Millichap has brokered the sale of two Connecticut retail properties that are net leased to Walgreens for a combined price of $11.7 million. Both properties, which are located in Monroe and Newington, total approximately 15,000 square feet. Nick Geaneotes, Steve Garthwaite and Derrick Dougherty of Marcus & Millichap represented the sellers, both of which were limited liability companies, in the transactions. The trio also procured the undisclosed buyers. Susan Bands of Marcus & Millichap assisted in closing both deals as the broker of record.

May 17, 2022

Acquisitions Development Life Sciences Northeast Pennsylvania Top Stories

Tishman Speyer, Bellco Capital to Develop 200,000 SF Life Sciences Campus in Philadelphia

by John Nelson May 17, 2022

PHILADELPHIA — A joint venture between Tishman Speyer and Bellco Capital has purchased a development site at the 2300 Market Street city block in Philadelphia’s Center City district. The joint venture, which goes by the name Breakthrough Properties, plans to redevelop the site into 200,000 square feet of life sciences space. The site is located adjacent to the University of Pennsylvania and Drexel University and within walking distance to several academic medical centers. The property will sit between the city’s Rittenhouse Square and University City neighborhoods, as well as near the 30th Street Transit Station that is serviced by SEPTA, Amtrak and trolley and commuter rail lines. The development team plans to deliver the laboratory and research and development spaces by 2024. Breakthrough has enlisted KieranTimberlake, a Philadelphia-based architectural firm, as the project architect and Cushman & Wakefield as the exclusive leasing agent. All Breakthrough properties are designed to achieve LEED Gold certification, according to the developer’s website. Philadelphia has emerged as one of the leading life sciences clusters in the country. Greater Philadelphia ranks No. 1 nationally for the National Institutes of Health (NIH) Grant Funding for cell and gene therapy and has attracted over $3.8 billion in venture …

May 17, 2022

Acquisitions Multifamily Texas

Vision & Beyond Capital Buys Three Houston Apartment Communities for $73M

by Taylor Williams May 16, 2022

HOUSTON — Cincinnati-based Vision & Beyond Capital Investments has purchased three Houston apartment communities totaling 460 units for a combined price of $73 million. Pine Lake Village totals 96 units and is located in the Greenpoint area. Ridge Point is situated within Texas Medical Center and comprises 168 units. Green Tree Place totals 196 units and is located on the city’s north side. The investment is the first in Houston for the new ownership, which plans to implement a value-add program. The seller(s) was not disclosed.

May 16, 2022

Acquisitions Office Texas

Marcus & Millichap Brokers Sale of 445-Unit Self-Storage Facility in Longview, Texas

by Taylor Williams May 16, 2022

LONGVIEW, TEXAS — Marcus & Millichap has brokered the sale of 80 West Self Storage, a 445-unit facility in Longview, located about 120 miles east of Dallas. The facility spans 76,814 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor, in the transaction. The duo also procured a privately held investment group as the buyer. Both parties requested anonymity.

May 16, 2022

Acquisitions Multifamily Texas

Newmark Arranges Sale of 210-Unit Sofia Apartments in East Austin

by Taylor Williams May 16, 2022

AUSTIN, TEXAS — Newmark has arranged the sale of The Sofia, a 210-unit apartment community in East Austin. Built in phases between 1973 and 1983 and renovated in 2019, The Sofia features one- and two-bedroom units with an average size of 723 square feet. Amenities include a pool, outdoor grilling and dining areas, a business center, fitness center, basketball court and a dog park. Jim Young and Chase Easley of Newmark represented the seller, a partnership between Dallas-based Lion Real Estate Group and Los Angeles-based Marble Partners Management LLC, in the transaction. Matt Greer and Andrew Wilson of Newmark arranged acquisition financing through Bridge Investment Group on behalf of the buyer, New York-based RockFarmer Properties.

May 16, 2022

Acquisitions Office Texas

Arc Capital Acquires 100,166 SF Office Building in Downtown Austin

by Taylor Williams May 16, 2022

AUSTIN, TEXAS — Dallas-based investment firm Arc Capital Partners has acquired Westview, a 100,166-square-foot office building located at the corner of 12th and Guadalupe streets in downtown Austin. The recently renovated property was 93 percent leased at the time of sale. Amenities include a café, conference room, fitness center, bike lockers and a rooftop terrace. Andrew Levy, Todd Savage, Kelsey Shebay and Jeff Coddington of JLL represented the seller, Dallas-based Prescott Group, in the transaction. Jeff Sause, Casey Wenzel and Matthew Ctvrtlik, also with JLL, arranged acquisition financing on behalf of Arc Capital Partners.

May 16, 2022

Acquisitions Loans Multifamily New York Northeast

Midwood Acquires Candela Tower Apartments in Manhattan for $102M

by Taylor Williams May 16, 2022

NEW YORK CITY — Locally based firm Midwood Investment & Development has acquired Candela Tower, a 158-unit apartment building in Manhattan’s West Village area, for $102 million. Named after its designer, Rosario Candela, the 20-story building was originally constructed in 1931 and includes 6,721 square feet of retail space. Cushman & Wakefield’s Adam Spies, Adam Doneger and Marcella Fasulo represented the seller, BlackRock, in the deal. MetLife Investment Management provided $63.5 million in acquisition financing to Midwood, which plans to upgrade the unit interiors and amenity spaces.

May 16, 2022

Acquisitions Multifamily New Jersey Northeast

Hudson Atlantic Arranges $13.5M Sale of Two Multifamily Properties in Montclair, New Jersey

by Taylor Williams May 16, 2022

MONTCLAIR, N.J. — Locally based brokerage firm Hudson Atlantic Realty has arranged the $13.5 million sale of two transit-served multifamily properties totaling 56 units and one commercial space in the Northern New Jersey community of Montclair. The properties include a 27-unit building at 10 Roosevelt Place and a 29-unit building with a commercial space at 47 N. Fullerton Ave. Both buildings were constructed in the early 1920s. Hudson Atlantic Realty represented the undisclosed seller in the transaction. The buyer was also not disclosed.

May 16, 2022

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