Acquisitions

JLL Negotiates Sale of 576,047 SF Corner Ridge Crossing Industrial Park in San Antonio

by Taylor Williams June 6, 2022

SAN ANTONIO — JLL has negotiated the sale of Corner Ridge Crossing, a 576,047-square-foot industrial park on San Antonio’s east side. Built in 2020, the property comprises four industrial buildings: one cross-dock, one front-load and two rear-load buildings. Each building has 28- to 32-foot clear heights, 28- to 60-foot dock high doors and truck court depths ranging from 130 to 210 feet. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Zach Riebe of JLL represented the seller, Houston-based Hines, in the transaction. Global investment firm KKR acquired the development for an undisclosed price.

June 6, 2022

Acquisitions Florida Restaurant Retail Southeast

FrostPoint Capital Acquires Bridgewater Commons Shopping Center in Orlando for $9.9M

by Amy Works June 6, 2022

ORLANDO, FLA. — FrostPoint Capital has purchased Bridgewater Commons, a shopping center in Orlando, from Fort Lauderdale, Fla.-based HS Capital for $9.9 million. Winn-Dixie anchors the 62,460-square-foot retail center, which is shadow-anchored by a CVS/pharmacy outparcel that was not part of the transaction. Other tenants include Subway, Avalon Dance Studio, Two Guys Pizzeria, Amigos Barbershop, New Shang Hai Restaurant, Winn-Dixie Liquors and Greenberg Dental. Kirk Olson and Drew Kristol of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the West Palm Beach, Fla.-based buyer in the deal.

June 6, 2022

Acquisitions Multifamily Texas

Newmark Brokers Sale of 309-Unit Alamo Park Apartments in San Antonio

by Taylor Williams June 6, 2022

SAN ANTONIO — Newmark has brokered the sale of Alamo Park, a 309-unit apartment community in northeast San Antonio. The property features one- and two-bedroom units with an average size of 658 square feet. Amenities include a pool, fitness center, volleyball court and outdoor grilling and dining areas. Jim Young, Matt Michelson and Chase Easley of Newmark represented the seller, Austin-based Achieve Investment Group, in the transaction. New York-based River Rock Capital purchased the asset for an undisclosed price and plans to implement a value-add program. Alamo Park was 94 percent occupied at the time of sale.

June 6, 2022

Acquisitions Multifamily Texas

Vista Investment Group Acquires 122-Unit Multifamily Property in Austin

by Taylor Williams June 6, 2022

AUSTIN, TEXAS — Southern California-based Vista Investment Group has acquired SoCo Apartments, a 122-unit multifamily property in Austin. Built in 2004, the property offers one, two- and three-bedroom units that are housed across 16 two-story buildings. Amenities include a pool, clubhouse, fitness center, coffee bar and picnic and grilling areas. The new ownership plans to invest in capital improvements to unit interiors, building exteriors and amenity spaces. Will Balthrope, Jordan Featherston and Kent Myers of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.

June 6, 2022

Acquisitions Affordable Housing Multifamily New Jersey Northeast

Greystone Provides $74.3M in Agency Financing for Newark Affordable Housing Portfolio

by Taylor Williams June 6, 2022

NEWARK, N.J. — Greystone has provided $74.3 million in Fannie Mae financing for a portfolio of 17 affordable housing properties totaling 574 units in Newark. The financing comprises five separate loans, all of which carry 10-year terms and 30-year amortization schedules. The properties range in size from nine to 108 units. Some of the assets are reserved for renters earning 60 percent or less of the area median income (AMI), while others feature an income restriction threshold of 80 percent of AMI. Hope Curtis of Greystone originated the financing. The borrower(s) were not disclosed.

June 6, 2022

Acquisitions Industrial New Jersey Northeast

CenterPoint Acquires 57,731 SF Industrial Building in Fairfield, New Jersey

by Taylor Williams June 6, 2022

FAIRFIELD, N.J. — Chicago-based investment firm CenterPoint Properties has acquired a 57,731-square-foot industrial building in the Northern New Jersey community of Fairfield. The undisclosed tenant will continue to lease back the space, which is situated on a 4.3-acre site. Eric Lewin and Joe Manganaro of Team Resources brokered the deal, which traded off-market.

June 6, 2022

Acquisitions New Jersey Northeast Retail

Jeffery Realty Arranges Sale of 30,000 SF Shopping Center in Willingboro, New Jersey

by Taylor Williams June 6, 2022

WILLINGBORO, N.J. — New Jersey-based brokerage firm Jeffery Realty has arranged the sale of Willingboro Town Center, a 30,000-square-foot shopping center in Southern New Jersey. The property was built in 2006 and is located at 4376 Route 130. Shane Wierks of Jeffery Realty represented the undisclosed seller and procured the buyer, a private investor, in the transaction.

June 6, 2022

Acquisitions California Industrial Western

Harbor Gateway Sells Office-to-Industrial Conversion Property in Los Angeles for $39.8M

by Amy Works June 6, 2022

LOS ANGELES — Harbor Gateway LLC has completed the disposition of a 5.4-acre industrial redevelopment property located at 19401 S. Vermont Ave. in Los Angeles’ South Bay market. Atlas Capital acquired the asset for $39.8 million. The property currently comprises 12 office buildings totaling 94,113 square feet. The location offers close proximity to two of the busiest seaports in North America and Los Angeles International Airport, as well as immediate access to the 105, 110, 710, 405 and 91 freeways. Kevin Shannon, Scott Schumacher, Ken White, Bret Hardy, Jim Linn, Andrew Briner, John McMillan and Danny Williams of Newmark represented the seller.

June 6, 2022

Acquisitions California Retail Western

Agora Realty Buys 115,522 SF Antelope Marketplace Near Sacramento

by Amy Works June 6, 2022

ANTELOPE, CALIF. — Agora Realty and Management has purchased Antelope Marketplace, a retail center located at 7901 Walerga Road in Antelope, a suburb of Sacramento. Philips Edison & Co. sold the asset for $33 million. Built in 1992 and remodeled in 2005, the 115,522-square-foot shopping center was 98 percent occupied at the time of sale. Current tenants include Bel Air, 24 Hour Fitness, Banfield Pet Hospital, Round Table Pizza, Leslie’s Pool Supplies, Wing Stop, Jamba Juice, Supercuts and State Farm Insurance. Ryan Thompson and Roman Benvenuti of Palmer Capital represented the buyer and seller in the transaction.

June 6, 2022

Acquisitions Arizona Retail Western

Marcus & Millichap Brokers Sale of La Gran Plaza Retail Center in Mesa, Arizona

by Amy Works June 6, 2022

MESA, ARIZ. — Marcus & Millichap has arranged the sale of La Gran Plaza, a retail property located at 1245 E. Southern Ave. in Mesa. An Arizona-based developer sold the asset to a California-based investor for $12.3 million. Sanford Burstyn of Marcus & Millichap represented the seller, while Bryan Ledbetter and Bryan Baits of Western Retail Advisors represented the buyer in the deal. Built in 1986 and remodeled in 2014, La Gran Plaza features 79,743 square feet of retail space. At the time of sale, the property was 96 percent occupied. Current tenants include El Super Grocery, Panda Express, Los Altos Ranch Market, dd’s Fashion, Taco Bell, WSS Shoes, Aaron’s, Walgreens and T-Mobile.

June 6, 2022

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