Acquisitions

11201-11223-National-Blvd-West-Los-Angeles-CA

CBM1 Negotiates $13.1M Sale of Retail Center in West Los Angeles

by Amy Works March 25, 2022

LOS ANGELES — CBM1 has arranged the sale of a neighborhood shopping center located at 11201-11223 National Boulevard in West Los Angeles. Los Robles Office Partners sold the asset to a private party for $13.1 million. The property includes a 10,883-square-foot retail building situated on a 24,400-square-foot lot. The retail center includes eight units; a newsstand; a Wells Fargo ATM; two income-producing billboards; and a cell tower. At the time of sale, seven of the eight units were occupied. Geoff Grossman of CBM1 represented the seller, while Paul Brehme of Lee & Associates represented the buyer in the transaction.

March 25, 2022

Acquisitions Maryland Multifamily Southeast

Comstock Acquires 250-Unit Multifamily Property in Rockville, Maryland

by Julia Sanders March 25, 2022

ROCKVILLE, MD. — Comstock Holdings Cos. Inc. has acquired the Ansel at Rockville Town Center, a 250-unit apartment building in Rockville. Duball LLC sold the property for an undisclosed amount. Jorge Rosa and Anthony Liberto of Cushman & Wakefield arranged the sale, while Marshall Scallan, Michael Zelin and Bindi Shah of Cushman & Wakefield arranged an undisclosed amount of debt financing. Delivered earlier this year, Ansel at Rockville Town Center, which is being rebranded as BLVD Ansel, is an 18-story high-rise apartment community that offers studio, one- and two-bedroom floorplans. BLVD Ansel features 20,153 square feet of retail space, 611 parking spaces and amenity spaces, including a lobby with concierge service, penthouse club room, fitness center with a yoga studio and private workspaces. The outdoor amenity spaces include a ninth-floor swimming pool with outdoor cooking stations, TV lounge and a rooftop courtyard for outdoor dining. Located at 33 Monroe St., the property is located at the entrance to Metro’s Rockville Station and is situated 21.5 miles from Washington, D.C. CHCI Residential Management and ParkX Management, wholly owned subsidiaries of Comstock, will provide property management services for BLVD Ansel.

March 25, 2022

Acquisitions Retail Southeast Tennessee

SRS Brokers Sale of 126,145 SF Shopping Center in Knoxville

by Julia Sanders March 25, 2022

KNOXVILLE, TENN. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Clinton Plaza, a 126,145-square-foot, grocery-anchored shopping center in Knoxville. LBD Properties LLC purchased the property for an undisclosed price. Kyle Stonis and Pierce Mayson of the SRS represented the undisclosed seller in the transaction. The buyer was self-represented. Anchored by Food City, Clinton Plaza’s tenant roster includes Advance Auto Parts, Dollar Tree, Gas ‘N Go, Rent-A-Center, ADMA Biologics, Metro by T-Mobile, 1st Heritage Credit and Cricket Wireless. Food City and Dollar Tree have been operating at the location for 22 years, and Rent-A-Center has been for 32 years. Advance Auto Parts, which is an outparcel at the property, has been a tenant since 1966. Located on Clinton Highway, the property is situated five miles from downtown Knoxville and 5.2 miles from the University of Tennessee campus.

March 25, 2022

Acquisitions Multifamily Student Housing Texas

Preiss Co. Acquires 828-Bed Student Housing Property Near Texas A&M University

by Taylor Williams March 25, 2022

COLLEGE STATION, TEXAS — The Preiss Co. has acquired University Trails College Station, an 828-bed student housing property located within walking distance of the Texas A&M University campus in College Station. The community offers a mix of one-, two-, three- and four-bedroom units that are fully furnished and feature private balconies. Shared amenities include a sand volleyball court, pool and hot tub, basketball court, two fitness centers, a business center and multiple study rooms. Preiss Co. plans to implement a value-add program.

March 25, 2022

Acquisitions Office Texas

NAI Partners Brokers Sale of 31,112 SF Office Complex in San Antonio

by Taylor Williams March 25, 2022

SAN ANTONIO — NAI Partners has brokered the sale of Commons at the Dominion, a five-building, 31,112-square-foot office complex located near The Dominion master-planned community in San Antonio. According to commercialcafé.com, the property was built on 3.7 acres in 2007. Josh Murphy and Clare Flesher of NAI Partners represented the seller, Dominion Drive Partners, in the transaction. The buyer and sales price were not disclosed.

March 25, 2022

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 193,657 SF Shopping Center in Rockford, Illinois

by Kristin Harlow March 25, 2022

ROCKFORD, ILL. — Mid-America Real Estate Group has brokered the sale of State Street Market in Rockford for an undisclosed price. The 193,657-square-foot shopping center is positioned at the northwest corner of State Street and Trainer Road. The property is 69 percent leased to Burlington, Dollar Tree, Jo-Ann Fabric, Old Chicago and PetSmart. Rick Drogosz of Mid-America represented the seller, Highlands REIT, and the buyer, Rhino Investments.

March 25, 2022

Acquisitions Michigan Midwest Net Lease Restaurant Retail

Marcus & Millichap Arranges $3.5M Sale of Net-Leased Restaurant Property in Westland, Michigan

by Kristin Harlow March 25, 2022

WESTLAND, MICH. — Marcus & Millichap has arranged the $3.5 million sale of a restaurant property net leased to On the Border Mexican Grill in Westland, about 16 miles west of downtown Detroit. On the Border has 14 years remaining on its lease. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the seller, an individual trust. Ashish Vakhariya, Darin Gross and Seth Haron of Marcus & Millichap represented the buyer, a limited liability company.

March 25, 2022

Acquisitions Illinois Midwest Net Lease Restaurant Retail

Boulder Group Negotiates $2.1M Sale of Starbucks-Occupied Property in Central Illinois

by Kristin Harlow March 25, 2022

LINCOLN, ILL. — The Boulder Group has negotiated the $2.1 million sale of a single-tenant property net leased to Starbucks in the Central Illinois city of Lincoln. The building is located at 3103 Woodlawn Road near I-55. Randy Blankstein and John Feeney of Boulder represented the seller, a West Coast-based investment group. The Illinois-based buyer completed a 1031 exchange.

March 25, 2022

Acquisitions New York Northeast Office Retail

Avison Young Negotiates $10.5M Sale of Manhattan Office, Retail Building

by Taylor Williams March 25, 2022

NEW YORK CITY — Avison Young has negotiated the $10.5 million sale of a 15,540-square-foot office and retail building located at 206 Spring St. in Manhattan’s So District. The five-story building houses tenants such as Korean restaurant The Woo and cosmetic dentistry firm SoHo Smile. James Nelson, Brandon Polakoff, Eric Karmitz and Bradley Rothschild of Avison Young represented the seller, locally based investment firm Corigin, in the transaction. The team also procured the undisclosed buyer.

March 25, 2022

Acquisitions Civic New York Northeast

Marcus & Millichap Brokers $9.6M Sale of Civic Building in Brooklyn

by Taylor Williams March 25, 2022

NEW YORK CITY — Marcus & Millichap has brokered the $9.6 million sale of a 28,000-square-foot civic building located at 555 Remsen Ave. in the East Flatbush neighborhood of Brooklyn. Jakub Nowak and Thomas Brennan represented the undisclosed seller in the transaction. Yossi Hackner of Sapphire Realty represented the buyer, a religious institution that also requested anonymity.

March 25, 2022

Newer Posts

Older Posts