Acquisitions

JLL Negotiates Sale of 210-Unit Active Adult Community in Metro Austin

by Taylor Williams March 21, 2022

GEORGETOWN, TEXAS — JLL has negotiated the sale of Northstar Apartments, a 210-unit active adult community located on the northern outskirts of Austin in Georgetown. The age-restricted property was built in 2021 and features one- and two-bedroom units averaging 1,016 square feet. Amenities include a media center and theater room, pool and spa, outdoor fire pit with seating area, landscaped courtyards and pickleball and bocce ball courts. Ryan McBride, Joe Dowdle, Zach Rigby and Sean Sorrell of JLL represented the seller, Chalk Hill Ventures, in the transaction. A partnership between Bain Capital Real Estate and Capitol Seniors Housing acquired the property for an undisclosed price.

March 21, 2022

Acquisitions Georgia Retail Southeast

Stan Johnson Co. Arranges $6M Sale of Shopping Center in Metro Atlanta

by Julia Sanders March 21, 2022

MARIETTA, GA. — Stan Johnson Co. has arranged the sale of Windy Hill Crossing, a 32,000-square-foot center in Marietta. Billy Benedict and Jeff Enck of Stan Johnson Co. represented the 1031 exchange buyer, a locally based group of investors. The seller, represented by Kyle Stonis of SRS Real Estate Partners, was an investor group based in nearby Smyrna. The sales price was $6 million. Windy Hill Crossing includes tenants such as FedEx Office and Jackson Hewitt Tax Service. Built in 1986, the property was over 96 percent occupied at the time of sale. Situated on 3.4 acres at 2311 Windy Hill Road, the property is situated at the signalized intersection of Windy Hill Road and U.S. Highway 41 (Cobb Parkway). The property is also two miles from Truist Park, the home ballpark of the Atlanta Braves, and 3.8 miles from The Home Depot’s corporate headquarters.

March 21, 2022

Acquisitions Midwest Minnesota Multifamily

JLL Brokers $65.1M Sale of Apartment Community in Woodbury, Minnesota

by Kristin Harlow March 21, 2022

WOODBURY, MINN. — JLL Capital Markets has brokered the $65.1 million sale of Beyond Apartments in Woodbury, a suburb of the Twin Cities. Built in 2021, the 255-unit apartment community features studios, one-, two- and three-bedroom units. Amenities include a sky lounge patio, pet wash, coworking lounge, fitness center, golf simulator and underground parking. Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller, Roers Cos. Affiliates of MLG Capital purchased the asset. Scott Streiff and Brock Yaffe of JLL originated a 10-year Fannie Mae loan for the acquisition.

March 21, 2022

Acquisitions Illinois Midwest Multifamily

Interra Realty Arranges $8.5M Sale of Four-Building Multifamily Portfolio in Chicago

by Kristin Harlow March 21, 2022

CHICAGO — Interra Realty has arranged the $8.5 million sale of a four-building multifamily portfolio in Chicago’s Hyde Park neighborhood. The 24-unit, fully leased portfolio includes two buildings on Blackstone Avenue, one building on Dorchester Avenue and one on Greenwood Avenue. They were all built in the early 1900s. Joe Smazal of Interra brokered the transaction. A private seller sold the portfolio to an East Coast-based buyer that maintains a significant presence in Chicago.

March 21, 2022

Acquisitions Illinois Midwest Net Lease Retail

Boulder Group Negotiates $7.9M Sale of Property Net Leased to Best Buy in Peoria, Illinois

by Kristin Harlow March 21, 2022

PEORIA, ILL. — The Boulder Group has negotiated the $7.9 million sale of a single-tenant retail property net leased to Best Buy in Peoria. The 46,432-square-foot building is located at 5001 N. Big Hollow Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based investor. A Midwest-based real estate company was the buyer. Best Buy has more than four years remaining on its lease.

March 21, 2022

Acquisitions Midwest Missouri Net Lease Retail

Marcus & Millichap Arranges $3.4M Sale of Planet Fitness-Occupied Property Near St. Louis

by Kristin Harlow March 21, 2022

SHREWSBURY, MO. — Marcus & Millichap has arranged the $3.4 million sale of a 20,000-square-foot property net leased to Planet Fitness in Shrewsbury, a western suburb of St. Louis. The building is located at 7521 Watson Road. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller, a limited liability company. A West Coast-based buyer purchased the property while completing a 1031 exchange.

March 21, 2022

Acquisitions New York Northeast Retail

WS Development Acquires 240,000 SF Stuyvesant Plaza in Albany, New York

by Taylor Williams March 21, 2022

ALBANY, N.Y. — Massachusetts-based WS Development has acquired Stuyvesant Plaza, a 240,000-square-foot shopping center in Albany that houses more than 60 retailers and restaurants. The property was originally built in 1959. The seller was an entity doing business as Stuyvesant Plaza Inc. The new ownership plans to implement a value-add program.

March 21, 2022

Acquisitions Healthcare New York Northeast

Cayuga Health Buys 108,000 SF Space at Shops at Ithaca Mall in Upstate New York

by Taylor Williams March 21, 2022

ITHACA, N.Y. — Locally based healthcare provider Cayuga Health has purchased a 108,000-square-foot space at The Shops at Ithaca Mall in upstate New York. The provider has occupied the space since March 2020 as a COVID-19 testing center. Cayuga Health plans to consolidate some of its existing practices into this location, as well as to lease out some of the space to new vendors. The seller was a partnership that includes two Long Island-based investment firms, Mason Asset Management and Namdar Realty Group.

March 21, 2022

Acquisitions New Jersey Northeast Office Top Stories

Vision Properties, Hana Alternative Asset Management Acquire 70 Hudson Street Office Building in Jersey City for $300M

by Jeff Shaw March 21, 2022

JERSEY CITY, N.J. — Vision Properties and Hana Alternative Asset Management have acquired 70 Hudson Street, a 431,281-square-foot office building located on the Hudson River in Jersey City. A joint venture between Danish institutional investor PFA Pension and Spear Street Capital sold the 12-story asset for $300 million. Built in 2000 and recently renovated with a new lobby and elevators, the asset is less than a block away from both the Paulus Hook river taxi station offering passage to several locations in Manhattan and the PATH light rail stations offering transit to Manhattan and New Jersey. It is only 1.5 miles from the Holland Tunnel as well. There is a Citibike bicycle rental station onsite and its waterfront location grants panoramic views of Lower Manhattan as well. Ground-floor retail tenants include CVS/pharmacy, bakery and restaurant Maman and a gym. Three floors of parking above the lobby and retail areas provide 226 parking spaces. According to the property website, only one 26,650-square-foot suite is currently available to rent, while the rest of the building is fully leased. Cushman & Wakefield’s David Bernhaut, Adam Spies, Kevin Donner, Marcella Fasulo, Andrew Merin, Gary Gabriel, Frank DiTommaso and Ryan Larkin, along with local leasing …

March 21, 2022

Acquisitions Florida Multifamily North Carolina South Carolina Southeast

Arch Cos. Sells Multifamily Portfolio in Carolinas, Florida for $199M

by Julia Sanders March 18, 2022

NEW YORK CITY — Arch Cos. has sold 1,993 multifamily units across six properties in Winston-Salem, N.C.; Spartanburg, S.C.; and Jacksonville, Fla. The sales price was $199 million. The buyer was not disclosed. Arch Cos. invested more than $15.5 million in capital expenditures in the properties and renovated 59 percent of all units over the past two years. The properties in the sale include The Arlington, The Arcadian and The Charleston in Winston-Salem; The Abner in Spartanburg; and Riverbank and Midtown Oaks in Jacksonville. Jeffrey Julien, Roberto Casas, Vic Ciancetta, Bill Weber, Bill Shippen and Denise Fansler of JLL represented Arch Cos. in the portfolio transaction. Other agents involved in the transaction include Kay Hill and Bern DuPree of Furman Capital Advisors and John Rutherford of NAI Hallmark.

March 18, 2022

Newer Posts

Older Posts