Acquisitions

Kislak Arranges $36M Sale of Apartment Complex in Hackensack, New Jersey

by Taylor Williams April 18, 2022

HACKENSACK, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $36 million sale of The VUE Hackensack, a 78-unit apartment complex in Northern New Jersey. The property was built in phases between 2015 and 2017 and consists of six one-bedroom units and 72 two-bedroom units with an average size of 1,205 square feet. Amenities include a fitness center, resident lounge and virtual doorman service. Andrew Scheinerman of Kislak represented the seller, an entity doing business as 295 Polifly Realty LLC, in the off-market transaction. Scott Davidovic, also with Kislak, procured the buyer, Sutton Equity LLC.

April 18, 2022

Acquisitions Midwest Nebraska Office

Cushman & Wakefield/Lund Brokers Sale of 148,524 SF Office Complex in Suburban Omaha

by Kristin Harlow April 18, 2022

LA VISTA, NEB. — Cushman & Wakefield/The Lund Co. has brokered the sale of the Securities America Office Complex in La Vista, a southern suburb of Omaha. The Class A office complex consists of three buildings totaling 148,524 square feet. The property is situated within the 237-acre Southport development, a major mixed-use project near I-80. Richard Secor Jr. and John Lund of Cushman & Wakefield/Lund represented the seller. Further details of the transaction were not disclosed.

April 18, 2022

Acquisitions Healthcare Midwest Missouri

Montecito Medical Acquires 15,000 SF Surgery Center in St. Joseph, Missouri

by Kristin Harlow April 18, 2022

ST. JOSEPH, MO. — Montecito Medical has acquired the St. Joseph Outpatient Surgery Center building in St. Joseph, about 55 miles north of Kansas City. The purchase price and seller were undisclosed. The nearly 15,000-square-foot property is fully leased to St. Joseph Outpatient Surgery Center. Four physician assistants, 19 surgeons and 12 anesthesia providers practice at the facility. The surgeons perform procedures in a variety of specialties, including orthopedics; gastroenterology; plastic surgery; ears, nose and throat (ENT) and podiatry. The facility includes four operating rooms, two procedure rooms and recovery rooms. Montecito Medical is a privately held company specializing in healthcare-related real estate acquisitions and funding for development.

April 18, 2022

Acquisitions Midwest Multifamily Seniors Housing Wisconsin

NAI Greywolf Negotiates Sale of 37-Unit Senior Living Facility in Wisconsin

by Kristin Harlow April 18, 2022

BRODHEAD, WIS. — NAI Greywolf has negotiated the sale of a 37-unit, vacant senior living facility in Brodhead, about 35 miles south of Madison. The sales price was undisclosed. The property, which closed in summer 2021, features two dining rooms, a beauty shop, therapy room and library. Dawn Davis of NAI Greywolf represented the seller, Brodhead Assisted Living Inc. The buyer, AJ Brodhead LLC, intends to reopen the property as assisted living.

April 18, 2022

Acquisitions Arizona Multifamily Western

CREC Real Estate, Rincon Capital Partners Acquire Ascent 1829 Apartments in North Phoenix

by Amy Works April 18, 2022

PHOENIX, ARIZ. — CREC Real Estate and Rincon Capital Partners have purchased Ascent 1829 Apartments, a multifamily community located in North Phoenix. Terms of the transaction were not released. The owners plan to invest up to $4.2 million to renovate the common areas and upgrade interiors and appliances to bring the property on par with nearby recently repositioned residential communities. Built in 1980 on six acres at 1829 E. Morten Ave., Ascent 1829 Apartments features 180 Class B apartments.

April 18, 2022

Acquisitions California Industrial Self-Storage Western

Colliers Negotiates $25M Sale of Self-Storage Facility in Stockton, California

by Amy Works April 18, 2022

STOCKTON, CALIF. — Colliers has arranged the sale of Hammer Lane Self Storage, a self-storage property located at 6220 Sampson Road in Stockton. Northwest Building LLC acquired the asset from Hammer Lane LLC for $25 million, or $227 per rentable square foot and $39,960 per unit. The property features 109,800 square feet in 526 fixed storage units and an additional 49,064 square feet of parking in 99 units. Tom de Jong and Dana Chobor of Colliers’ Self Storage Group represented the buyer and seller in the transaction.

April 18, 2022

Acquisitions California Retail Western

Marcus & Millichap Brokers $1.7M Sale of Mobil-Occupied Gas Station Property in Blythe, California

by Amy Works April 18, 2022

BLYTHE, CALIF. — Marcus & Millichap has brokered the sale of a retail property located at 1900 E. Hobsonway in Blythe. A private investor sold the asset to an individual/personal trust for $1.7 million. A Mobil gas station and convenience store occupies the 2,816-square-foot retail property. Bruce Haulley of Marcus & Millichap’s Palm Springs office represented the buyer and seller in the deal.

April 18, 2022

Acquisitions Development Life Sciences Top Stories Washington Western

BioMed Realty Acquires Life Sciences Development Site in Seattle for $127M

by Taylor Williams April 18, 2022

SEATTLE — BioMed Realty, a San Diego-based owner-operator of healthcare real estate and a Blackstone portfolio company, has acquired a life sciences development site in Seattle. The sales price was $127 million, according to The Puget Sound Business Journal. BioMed plans to develop 616,000 square feet of life sciences space at the site, which is known as Denny Park South and comprises two adjacent parcels totaling 1.6 acres in South Lake Union/Denny Triangle neighborhood. The location is also near a variety of healthcare facilities and research institutions, notes Jon Bergschneider, president of West Coast markets at BioMed Realty. “The South Lake Union/Denny Triangle cluster is flush with renowned research institutes like the University of Washington School of Medicine, Gates Foundation, Fred Hutchinson Cancer Research Center and the Allen Institute, as well as large tech users such as Amazon, Meta and Apple,” he says. Following this development, BioMed’s life sciences portfolio in Seattle, which includes the recently completed flagship Dexter Yard project in South Lake Union, will total approximately 1.8 million square feet. A tentative construction timeline for the Denny Park South project was not disclosed. The acquisition of Denny Park South follows BioMed’s purchase of T6 Innovation Center, located at …

April 18, 2022

Acquisitions Florida Multifamily Southeast

Harbor Group International Acquires Multifamily Property in Miami for $50M

by Julia Sanders April 15, 2022

MIAMI — Norfolk, Va.-based Harbor Group International has acquired 275 FontaineParc, a 133-unit, Class A multifamily property in Miami. The sales price was $50 million, or about $379,939 per unit. The seller was not disclosed. Built in 2020, 275 FontaineParc offers one-, two- and three-bedroom floorplans. Unit features include walk-in closets, private balconies, stainless steel appliances and quartz countertops. Community amenities include a pool, fitness center, private bike storage, onsite maintenance and covered parking. The property was fully occupied at the time of sale. Located at 275 Fontainebleau Blvd., the property is situated 11.7 miles from downtown Miami and 7.4 miles from Miami International Airport.

April 15, 2022

Acquisitions Florida Southeast

Marcus & Millichap Brokers $22M Sale of Hoffner Commerce Center in Orlando

by Julia Sanders April 15, 2022

ORLANDO, FLA. — Marcus & Millichap has brokered the $22 million sale of Hoffner Commerce Center, a 93,749-square-foot property in Orlando. Salim Valiani and Andrew Jaworski of Marcus & Millichap represented the seller, an entity doing business as Hoffner Center LLC, and procured the buyer, Avanti Way Capital, in the transaction. Hoffner Commerce Center is a 53-suite building that was 93 percent occupied at the time of sale by tenants including Herbalife, Labcorp and State Farm Auto Insurance. The property includes ground-floor retail, as well as office and medical office space. The excess land is zoned for industrial. Located at 5449 S. Semoran Blvd., the property is situated 8.2 miles from downtown Orlando and 4.3 miles from Orlando International Airport.

April 15, 2022

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