Acquisitions

MDH Partners Purchases 808,505 SF Industrial Facility in Franklin, Indiana

by Kristin Harlow April 12, 2022

FRANKLIN, IND. — MDH Partners has purchased Franklin Tech Park, an 808,505-square-foot industrial facility in the Indianapolis suburb of Franklin. The purchase price was undisclosed. Constructed in 2009, the property sits on 42 acres at 500 Bartram Parkway. The facility is LEED Gold-certified and features a clear height of 32 feet, 78 exterior dock doors and over 100 trailer parking spaces. The transaction marks the first acquisition in Indiana for Atlanta-based MDH. Upon acquisition, MDH executed a lease with Atlanta-based, third-party logistics provider Broadrange Logistics. Houston Hawley of MDH served as the acquisition lead for the company. JR Wright and John Gosnell of Strategic Real Estate Partners brokered the sale.

April 12, 2022

Acquisitions Development Industrial Midwest Ohio

Brennan Acquires 34 Acres in Suburban Cincinnati, Plans 445,000 SF Spec Industrial Development

by Kristin Harlow April 12, 2022

FAIRFIELD, OHIO — Brennan Investment Group has acquired 34 acres at the intersection of Seward and Symmes roads in Fairfield, a northern suburb of Cincinnati. The firm plans to build two speculative industrial buildings totaling 445,000 square feet. One building will span 282,000 square feet, while the other will total 163,000 square feet. The site is near I-75, I-275 and the Cincinnati-Northern Kentucky International Airport. The seller and sales price were not released.

April 12, 2022

Acquisitions Midwest Ohio Retail

SRS Real Estate Brokers $10.2M Sale of Shopping Center in Cincinnati

by Kristin Harlow April 12, 2022

CINCINNATI — SRS Real Estate Partners has brokered the sale of Ridgewater Plaza in Cincinnati for $10.2 million. The 175,945-square-foot shopping center is located at 3240 Highland Ave. The property is 92 percent occupied by tenants such as American Freight and NAPA Auto Parts. Jack Cornell of SRS represented the seller, Oklahoma-based Frayer Enterprises, as well as the buyer, an Ohio-based private real estate investment firm.

April 12, 2022

Acquisitions Illinois Industrial Midwest

Transwestern Arranges Sale of 131,000 SF Industrial Flex Building in Suburban Chicago

by Kristin Harlow April 12, 2022

BATAVIA, ILL. — Transwestern Real Estate Services has arranged the sale of the Campana Building in the Chicago suburb of Batavia for an undisclosed price. The 131,000-square-foot industrial flex building is located at 901 N. Batavia Ave. Michael Marconi and Paige Gunn of Transwestern represented the seller, Campana Redevelopment, and the buyer, Batavia Business Center LLC. The property was 65 percent leased at the time of sale. The new ownership has retained Transwestern to provide leasing and property management services.

April 12, 2022

Acquisitions Midwest Ohio Restaurant Retail

Cooper Group Negotiates Sale of P.F. Chang’s-Occupied Property Near Cleveland for $3.8M

by Kristin Harlow April 12, 2022

BEACHWOOD, OHIO — The Cooper Commercial Investment Group has negotiated the $3.8 million sale of a single-tenant property occupied by P.F. Chang’s in Beachwood, a suburb of Cleveland. The restaurant’s lease expires in 2025. Dan Cooper of Cooper Group represented the seller, a private investment group, and procured the all-cash buyer. The transaction represents a cap rate of 4.62 percent. The property sold for $543 per square foot and at approximately 98 percent of the list price.

April 12, 2022

Acquisitions Office Southeast Tennessee Top Stories

KBS Acquires 29-Story Office Tower in Downtown Nashville for $175M

by Taylor Williams April 12, 2022

NASHVILLE — California-based investment and development firm KBS has acquired UBS Tower, a 29-story office tower in downtown Nashville. The sales price was approximately $175 million, according to The Nashville Business Journal. Located at 315 Deaderick St., the 605,000-square-foot UBS Tower is the second-tallest office building in the city and occupies a full city block. The property was originally constructed in 1972 and has been renovated several times over the ensuing decades. The namesake tenant and investment banking firm renewed its 138,000-square-foot lease in 2021 and will serve as the building’s anchor tenant until 2034. The most recent capital improvement program delivered new and revamped amenity spaces, including the lobby, tenant lounge, coffee bar, fitness center and conference facilities. This project also upgraded the building’s mechanical systems. “With a population quickly approaching 2 million, Nashville is a vital business, tourism and transportation center,” says Marc DeLuca, CEO and Eastern regional president at KBS. “Nashville boasts a thriving economy that is predicted to see a 3.9 percent growth in employment in 2022. This activity creates numerous office-using jobs and significantly increases the rental growth and demand in the market.” According to CoStar Group, Nashville has approximately 80 percent more office-using jobs …

April 12, 2022

Acquisitions Georgia Mixed-Use Retail Southeast

North American Properties, Nuveen Acquire Mixed-Use Property in North Atlanta Suburb

by Julia Sanders April 11, 2022

PEACHTREE CORNERS, GA. — Cincinnati-based North American Properties and Nuveen Real Estate have acquired The Forum on Peachtree Parkway, a 500,000-square-foot shopping center in Peachtree Corners, about 22.9 miles from downtown Atlanta. The seller and sales price were not disclosed. Originally opened in 2002, The Forum on Peachtree Parkway is an open-air lifestyle center that is home to a mix of retail, restaurants and office space, including lululemon, Pottery Barn, Trader Joe’s and Ulta Beauty. Property amenities include walking trails, property-wide Wi-Fi, outdoor seating areas and a pedestrian bridge connecting to Peachtree Corners Town Center. North American Properties has plans to redevelop the property, including making the public realm bigger, improving the common areas and remerchandising the retail collection. No other redevelopment plans were disclosed.

April 11, 2022

Acquisitions Multifamily Texas

Berkadia Arranges Sale of 354-Unit Dawson Apartments in West Houston

by Taylor Williams April 11, 2022

HOUSTON — Berkadia has arranged the sale of The Dawson, a 354-unit apartment community located in the Energy Corridor area of West Houston. Built in 2014, The Dawson offers one- and two-bedroom units that range in size from 649 to 1,552 square feet. Residences are furnished with stainless steel appliances, granite countertops, individual washers and dryers and private balconies/patios. Amenities include a pool, fitness center, business center, outdoor kitchen and a dog park. Chris Curry, Todd Marix, Jeffrey Skipworth, Chris Young, Joey Rippel and Kyle Whitney of Berkadia represented the seller, Austin-based RPM Living, in the transaction. Clay Akiwenzie, also with Berkadia, originated an undisclosed amount of Freddie Mac financing on behalf of the buyer, California-based Bridge Partners. The loan carried a seven-year term and a floating interest rate.

April 11, 2022

Acquisitions Florida Retail Southeast

Marcus & Millichap Arranges $23M Sale of Retail Portfolio in Miami

by Julia Sanders April 11, 2022

MIAMI — Marcus & Millichap has arranged the sale of a 17-suite retail portfolio in Miami dubbed Midtown Miami. The assets sold for $23 million, or $922.77 per square foot. The portfolio is occupied by tenants such as Citi Bank, 305 Kicks, Calligaris, Wynwood Tattoo and Galerie Monnin. Alex Zylberglait, Alejandro D’Alba and Scott Sandelin of Marcus & Millichap represented the seller, Block Capital Group, and procured the German-based buyer, Rüger Holding KG. Robert Bhat of Marcus & Millichap arranged an undisclosed amount of acquisition financing for the buyer. The Midtown Miami retail portfolio features two buildings totaling 24,925 square feet of gross leasable space at 3300 N Miami Ave. and 30 NW 34 St. The property also includes 30 dedicated parking spaces. The adjacent retail assets are located about 7.5 miles from Miami International Airport and 6.4 miles from Miami Beach.

April 11, 2022

Acquisitions Florida Industrial Southeast

Colliers Brokers $14.9M Sale of Two Industrial Buildings in Fort Lauderdale

by Julia Sanders April 11, 2022

FORT LAUDERDALE, FLA. — Colliers has brokered the $14.9 million sale of two industrial buildings in Fort Lauderdale. Mark Rubin, Bastian Laggerbauer, Jake Stauber, Steven Wasserman and Erin Byers of Colliers represented the seller, Apogee Investment Partners LLC, as well as the buyer, Elion Acquisitions LLC, in the transaction. The two buildings include a 60,000-square-foot repair facility that was renovated in 2019 and a 11,682-square-foot staging facility. The buildings are conjoined by a recently constructed covered walkway. The industrial buildings are currently occupied by CTS Engines, a turbine engine maintenance, repair and overhaul (MRO) company, with long-term leases in place. Located at 3000 & 3060 SW 2nd Ave. on 2.6 acres, the properties are adjacent to Fort Lauderdale-Hollywood International Airport and less than three miles from Port Everglades.

April 11, 2022

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