Acquisitions

MAG Capital Partners Acquires 30,000 SF Retail Building in Kansas City Via Sale-Leaseback Transaction

by Kristin Harlow March 14, 2022

KANSAS CITY, KAN. — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired a 30,000-square-foot retail building occupied by Frontier Justice in Kansas City. The purchase price was undisclosed. Frontier Justice a retail destination founded in 2015 by Mike and Bren Brown, offers firing ranges, a café and an exclusive fashion boutique that sells a variety of men’s and women’s apparel, jewelry and home décor. Judd Dunning of DWG Capital Group arranged debt financing for MAG Capital Partners, which is a Texas-based private investment firm founded by Dax Mitchell and Andrew Gi. The transaction marks the second sale-leaseback that MAG Capital Partners has completed in the Kansas City market.

March 14, 2022

Acquisitions North Carolina Office Southeast

Stream Realty Arranges Sales of Two Office Buildings in Research Triangle Region

by Julia Sanders March 11, 2022

DURHAM AND MORRISVILLE, N.C. — Dallas-based Stream Realty Partners has arranged the sale of two multi-tenant office buildings in the Research Triangle area. Continental Capital Partners, which has an office in Charlotte, sold the two properties to Texas-based Woodside for an undisclosed price. Jared Londry, Mack Freudenstein and Alex Olofson of Stream Realty Partners represented the seller in the transaction. The two buildings are Park40 Plaza in Durham and RDU Center II in Morrisville. Located at 1000 Park Forty Plaza Drive, Park40 Plaza spans 122,311 square feet. Located at 3131 RDU Center Drive, RDU Center II totals 61,606 square feet. Park40 Plaza and RDU Center II offer easy access to Interstate 40, Research Triangle Park, Raleigh-Durham International Airport and cities including Raleigh, Cary and Chapel Hill.

March 11, 2022

Acquisitions Industrial Midwest Ohio

Phoenix Investors to Acquire 1 MSF Industrial Park in Cleveland

by Kristin Harlow March 11, 2022

CLEVELAND — An affiliate of Phoenix Investors has reached a definitive agreement to acquire Nela Park in Cleveland for an undisclosed price. Nela Park is home to GE Lighting, a Savant company. The acquisition will add more than 1 million square feet of industrial space to Phoenix’s portfolio. Built in 1913, Nela Park is considered the first industrial park in the world, according to Phoenix. The 138-acre property consists of industrial space, office space, a cafeteria, fitness center and outdoor recreation facilities. Savant acquired GE Lighting in July 2020. GE Lighting plans to maintain partial tenancy at Nela Park after Phoenix’s acquisition.

March 11, 2022

Acquisitions Midwest Missouri Multifamily Northmarq

Northmarq Arranges Sale of 56-Unit Apartment Building in Kansas City

by Kristin Harlow March 11, 2022

KANSAS CITY, MO. — Northmarq has arranged the sale of Centropolis on Grand, a 56-unit apartment building in Kansas City’s River Market neighborhood. The sales price was undisclosed. Gabe Tovar and Jeff Lamott of Northmarq represented the seller, KC Commercial Realty Group, which developed the property in 2016. Tovar and Lamott are also arranging permanent financing on behalf of the buyer, Minneapolis-based Oaks Properties. The transaction marks the buyer’s first investment in the Kansas City market.

March 11, 2022

Acquisitions Industrial Midwest Ohio

MDH Partners Buys Newly Completed Warehouse in Columbus Spanning 100,000 SF

by Kristin Harlow March 11, 2022

COLUMBUS, OHIO — MDH Partners has purchased Green Pointe Landing, a 100,000-square-foot warehouse in Columbus. The purchase price was undisclosed. Completed this January, the property sits on nearly nine acres at 5740 N. Green Pointe Drive. The building features 20 dock doors, 135 car parking spaces and clear heights that range from 28 to 32 feet. Cushman & Wakefield represented the seller, Oakridge Development Co. Houston Hawley served as the acquisition lead for MDH, which now owns more than 680,000 square feet of industrial space in Ohio.

March 11, 2022

Acquisitions Michigan Midwest Retail

Boulder Group Arranges $4.1M Sale of Firestone-Occupied Property in Metro Detroit

by Kristin Harlow March 11, 2022

LAKE ORION, MICH. — The Boulder Group has arranged the $4.1 million sale of a single-tenant retail property occupied by tire company Firestone in Lake Orion, about 38 miles north of Detroit. The net-leased, 6,116-square-foot building is located at 25 Indianwood Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate developer. A Southeast-based private real estate investor was the buyer.

March 11, 2022

Acquisitions Florida Retail Southeast

Brickell Station Partners Sells Retail Building in Downtown Miami for $20.1M

by Julia Sanders March 11, 2022

MIAMI — Brickell Station Partners has sold a retail property in Miami to Gazit Horizons for $20.1 million. Hector Antunez and Juan Andres Nava from Metro 1 represented Brickell Station Partners, and Fabian Graff of Metro 1 represented Gazit Horizons. The building, located in downtown Miami’s Brickell neighborhood, is currently home to Toasted Bagelry & Deli, Talkin’ Tacos, CBD American Shaman and Stanzione 87 pizzeria. Located at 83-97 Southwest Eighth St. along The Underline linear park, the building is situated close to Brickell City Centre and Metromover and Metrorail stops.

March 11, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 459-Unit Self-Storage Facility in Melissa, Texas

by Taylor Williams March 11, 2022

MELISSA, TEXAS — Marcus & Millichap has brokered the sale of a 459-unit self-storage facility in Melissa, located north of Dallas in Collin County. The Class A property consists of 293 climate-controlled units and 166 non-climate-controlled units across 56,525 net rentable square feet of space. Brett Hatcher, Gabriel Coe and Brian Kelly of Marcus & Millichap represented the buyer and seller, both of which requested anonymity, in the transaction. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.

March 11, 2022

Acquisitions Multifamily New Jersey Northeast

CBRE Negotiates $173.4M Sale of Apartment Community in New Brunswick, New Jersey

by Taylor Williams March 11, 2022

NEW BRUNSWICK, N.J. — CBRE has negotiated the $173.4 million sale of Plaza Square, a 415-unit apartment community located in the Northern New Jersey community of New Brunswick. The transit-served property was built in 2004 and offers amenities such as a pool, fitness center, resident clubhouse, business center and a dog run. Jeffrey Dunne, Jeremy Neuer, Richard Gatto, Fahri Ozturk, Stuart MacKenzie and Eric Apfel of CBRE represented the seller, Manulife Investment Management, in the transaction. The team also procured the buyer, Renaissance Management.

March 11, 2022

Acquisitions New York Northeast Retail

Palomar Group Arranges Sale of 53,642 SF Shopping Center in Olean, New York

by Taylor Williams March 11, 2022

OLEAN, N.Y. — The Palomar Group, an investment sales brokerage firm based in Georgia, has arranged the sale of Shops at Walmart Plaza, a 53,642-square-foot shopping center in Olean, about 70 miles south of Buffalo. Shadow-anchored by Walmart, the center was 94 percent leased at the time of sale to tenants such as Old Navy, Pet Supplies Plus, GameStop, GNC, Supercuts, Spectrum and The Shoe Depot. Palomar Group represented the seller, Dallas-based Tabani Group, which sold the property to a private investor based in the Boston area for $12 million.

March 11, 2022

Newer Posts

Older Posts