Acquisitions

Pennybacker Capital Buys 251,314 SF Infill Industrial Facility in Raleigh

by John Nelson May 17, 2022

RALEIGH, N.C. — Pennybacker Capital has purchased a 251,314-square-foot infill industrial facility located at 3200 Bush St. in Raleigh. Grayson Hawkins, Chandler Hawkins, Patrick Gildea and Matt Smith of CBRE represented Pennybacker Capital in the transaction. New Market Strategies sold the asset, which was fully leased at the time of sale to an e-commerce user, building material suppliers and Wake Tech, a regional community college, for an undisclosed price. Situated on a 20-acre site, the facility is located north of I-440 near Raleigh’s North Hills district.

May 17, 2022

Acquisitions Multifamily Texas

FCP, One Real Estate Acquire 284-Unit Summit Apartments in San Antonio

by Taylor Williams May 17, 2022

SAN ANTONIO — A joint venture between Maryland-based investment firm FCP and One Real Estate Investment has acquired The Summit, a 284-unit apartment community in San Antonio. The Summit offers one-, two- and three-bedroom units. The property was built in 1984. According to Apartments.com, amenities include a pool, fitness center, clubhouse and an outdoor kitchen. The new ownership plans to invest about $5 million in capital improvements to the unit interiors, building exteriors and amenity spaces. Will Caruth of Berkadia represented the undisclosed seller in the transaction.

May 17, 2022

Acquisitions Hospitality Texas

Chatham Lodging Trust Sells Two Marriott-Branded Hotels Totaling 220 Rooms in Houston

by Taylor Williams May 17, 2022

HOUSTON — South Florida-based hospitality REIT Chatham Lodging Trust has sold two Marriott-branded hotels totaling 220 rooms in Houston’s West University submarket. The properties, which include a 100-room Courtyard by Marriott and a 120-room Residence Inn by Marriott, were sold in conjunction with a 137-room Homewood Suites by Hilton hotel in Dallas and a 180-room Hilton Garden Inn in Burlington, Mass. The collective sales price was $80 million. The buyer(s) was not disclosed.

May 17, 2022

Acquisitions Industrial Texas

Finial Group Negotiates Sale-Leaseback of 59,028 SF Industrial Building in Garland, Texas

by Taylor Williams May 17, 2022

GARLAND, TEXAS — Houston-based brokerage firm Finial Group has negotiated the sale-leaseback of a 59,028-square-foot industrial building in the northeastern Dallas suburb of Garland. The seller and tenant was Belgian chemical supplier Azelis. The single-tenant building is located at 3857 Miller Park Drive. Travis McEldowney and Jack Gaffney of Finial Group represented the buyer, Faropoint Ventures, in the off-market transaction.

May 17, 2022

Acquisitions Industrial Massachusetts Northeast

Newmark Negotiates Sale of 345,000 SF Distribution Center in Bellingham, Massachusetts

by Taylor Williams May 17, 2022

BELLINGHAM, MASS. — Newmark has negotiated the sale of Bellingham Distribution Center, a 345,000-square-foot industrial property located about 40 miles southwest of Boston. The facility was fully leased to restaurant equipment and foodservices supplier TriMark USA at the time of sale. A partnership between global investment manager Barings and Dallas-based Lincoln Property Co. originally developed the building, which features a clear height of 36 feet, 70 loading docks and 45 trailer parking spaces, in 2021. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Brian Pinch, Samantha Hallowell and Nickolas Revers of Newmark represented the seller in the transaction. LaSalle Property Fund purchased the asset for an undisclosed price.

May 17, 2022

Acquisitions Industrial Midwest Minnesota

CBRE Arranges $143M Sale of Industrial Portfolio in Suburban Minneapolis

by Kristin Harlow May 17, 2022

MINNEAPOLIS — CBRE has arranged the sale and recapitalization of an 11-building industrial portfolio totaling nearly 1.4 million square feet in suburban Minneapolis for $143 million. The properties are located in Oakdale, Maplewood, New Hope, Bloomington, Brooklyn Park, Maple Grove, Minneapolis and Roseville. Michael Caprile, Judd Welliver, Ryan Bain, Zachary Graham and Bentley Smith of CBRE represented the seller, Onward Investors, which recapitalized the portfolio with a new capital partner.

May 17, 2022

Acquisitions Indiana Midwest Retail

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

Newer Posts

Older Posts