Acquisitions

Disney Investment Group Arranges Sale of 37,500 SF Lake Forest Marketplace in McKinney, Texas

by Taylor Williams March 9, 2022

MCKINNEY, TEXAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Lake Forest Marketplace, a 37,500-square-foot shopping center in the northern Dallas suburb of McKinney. The property was built in 2019. At the time of sale, Lake Forest Marketplace was fully leased to 14 tenants, including Pet Supplies Plus, MOD Pizza, Athletico, Floyds 99 Barbershop, Jersey Mike’s Subs and The UPS Store. David Disney and Adam Crockett of DIG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 9, 2022

Acquisitions Montana Multifamily Oregon Seniors Housing Western

Harrison Street Sells Five Seniors Housing Properties in Oregon, Montana to Springs Living for $193.5M

by Amy Works March 9, 2022

MEDFORD AND EUGENE, ORE., AND BUTTE AND BILLINGS, MONT. — Harrison Street has completed the disposition of five senior housing properties valued at $193.5 million to The Springs Living. The properties were held across several of Harrison Street’s U.S Opportunity Funds and related co-investment vehicles. The portfolio consists of 622 independent living, assisted living and memory care units in Medford, Eugene, Butte and Billings. As of December 2021, the properties had an average occupancy of 93 percent. Further details on the properties were not disclosed.

March 9, 2022

Acquisitions Retail Washington Western

Marcus & Millichap Brokers $1.9M Sale of Nix 99 Retail Property in Lynnwood, Washington

by Amy Works March 9, 2022

LYNNWOOD, WASH. — Marcus & Millichap has brokered the sale of The Nix 99 Building at Mukilteo Gateway, a retail property in Lynnwood. A private investor sold the asset to Lighthouse Diving for $1.9 million. Located at 13718 31st Ave. W, The Nix 99 Building at Mukilteo Gateway features 5,200 square feet of retail space. At the time of sale, the property was vacant. The new owner plans to open a diving gear superstore at the site. Christopher Secreto and Stren Lea of Marcus & Millichap’s Seattle office represented the seller, while Art Thimpson of NAI-PSP represented the buyer in the deal.

March 9, 2022

Acquisitions Development Georgia Mixed-Use Southeast

Origin Investments, Kaplan Residential Acquire Land in South Atlanta, Plan Mixed-Use Development

by Julia Sanders March 9, 2022

ATLANTA — Origin Investments and Kaplan Residential have acquired a 40-acre parcel in Atlanta, for $31.5 million. The property was purchased through Origin Investments’ $300 million Qualified Opportunity Zone Fund II. Pierce Owings and Matt Hawkins of Cushman & Wakefield represented the undisclosed seller for the land. The joint venture plans to develop a master-planned, mixed-use project that will be the largest mixed-use project along the Atlanta BeltLine’s Southside Trail. Located within Chosewood Park at 500 Sawtell Ave. SE, the project’s first phase will feature approximately 700 build-to-rent townhomes and multifamily units. Once completed, the project will have more than 2,000 multifamily residences, activated park space and up to 150,000 square feet of commercial space. Plans also include a variety of local restaurants with outdoor seating, coffee shops, a wellness center, dedicated areas for food trucks, pet amenities, coworking centers, office areas and entertainment space. The property will also have a resident-only club experience called Club Sawtell that will include fitness, wellness, coworking and lifestyle amenities. Experiential retail consultants at Revel will spearhead the concept origination of the commercial and adaptive reuse component. Additionally, HGOR and The Beck Group will lead the architecture and construction for Club Sawtell. Lancaster Associates …

March 9, 2022

Acquisitions Alabama Multifamily Southeast

Brass Enterprises Buys 273-Unit Multifamily Property in Huntsville

by Julia Sanders March 9, 2022

HUNTSVILLE, ALA. — Brass Enterprises has bought Henry House at Clift Farm, a 273-unit, garden-style multifamily property in Huntsville. The sales price was not disclosed. Russ Hardy and David Wilson of Berkadia Institutional Solutions completed the sale on behalf of the seller, a joint venture partnership between Atlanta-based META Real Estate Partners and Huntsville-based Watercress Partners. Tom Genetti of Berkadia arranged an undisclosed amount of financing on behalf of Brass. Henry House at Clift Farm offers one-, two- and three-bedroom floorplans. Unit features include in-unit washers and dryers and private patios or balconies. Community amenities include a clubhouse, fitness center, swimming pool, multiple outdoor kitchens, dog park and a playground. Located at 1435 Balch Road, the property is situated close to a new Publix, Madison Hospital, the shops and restaurants along Highway 72 and walking trails within the 600-acre Clift Farm master-planned development.

March 9, 2022

Acquisitions Kansas Midwest Retail

Marcus & Millichap Brokers $6.4M Sale of Walgreens-Occupied Property in Olathe, Kansas

by Kristin Harlow March 9, 2022

OLATHE, KAN. — Marcus & Millichap has brokered the sale of a 14,631-square-foot retail property occupied by Walgreens in Olathe for $6.4 million. The building is located at 15066 W. 151st St., about 24 miles southwest of downtown Kansas City. Neighboring retail tenants include Starbucks, FedEx, McDonald’s, Sonic, Taco Bell and Hy-Vee. Walgreens executed an early five-year lease renewal on its original 20-year net lease. Nicholas Kanich of Marcus & Millichap marketed the property on behalf of the seller, an Iowa-based investment group. Colby Haugness, Marcus & Millichap’s Kansas broker of record, assisted in closing the transaction. A Delaware-based investment group was the buyer.

March 9, 2022

Acquisitions Northeast Pennsylvania Retail

First National Realty Acquires 216,000 SF Dauphin Plaza Shopping Center in Harrisburg

by Taylor Williams March 9, 2022

HARRISBURG, PA. — New Jersey-based investment firm First National Realty Partners has acquired Dauphin Plaza, a 216,000-square-foot, open-air shopping center in Harrisburg. Grocer Price Rite has served as the anchor tenant since 2006 and currently operates a 33,500-square-foot store. Other tenants include Big Lots, Ashley Furniture, Crunch Fitness, Dollar General, Waffle House, Subway, Weight Watchers and H&R Block. James Galbally, Chris Munley and Colin Behr of JLL represented the undisclosed seller in the transaction.

March 9, 2022

Acquisitions Industrial NAI New Jersey Northeast

NAI Hanson Negotiates Sale of 132,135 SF Industrial Flex Complex in Clifton, New Jersey

by Taylor Williams March 9, 2022

CLIFTON, N.J. — NAI James E. Hanson has negotiated the sale of a 132,135-square-foot industrial flex property in the Northern New Jersey community of Clifton. The property consists of two buildings totaling approximately 57,000 and 68,000 square feet on a 6.2-acre site. Andrew Somple of NAI Hanson represented the seller, an entity doing business as 1913 Realty Associates LLC. The buyer and sales price were not disclosed.

March 9, 2022

Acquisitions Connecticut Industrial Northeast

Lyman Real Estate Arranges Sale of 96,000 SF Industrial Facility in Norwich, Connecticut

by Taylor Williams March 9, 2022

NORWICH, CONN. — Locally based firm Lyman Real Estate Brokerage & Development has arranged the $6.8 million sale of a 96,000-square-foot industrial facility within Norwich Business Park in the southern coastal part of the state. Ron Lyman of Lyman Real Estate Brokerage & Development represented the seller, Nutron Manufacturing, which vacated the property in 2019, in the transaction. The buyer, an entity doing business as 5 Wisconsin Owner LP, has subsequently leased the building to S&S, a purveyor of arts, crafts, athletic equipment and other recreational/educational products.

March 9, 2022

Acquisitions California Retail Western

Marcus & Millichap Brokers $44.7M Sale of Washington Plaza Shopping Center in Downtown Los Angeles

by Amy Works March 8, 2022

LOS ANGELES — Marcus & Millichap (NYSE: MMI) has arranged the sale of Washington Plaza, a grocery-anchored retail property located in downtown Los Angeles. Southern California-based Eagles Nest Property LLC sold the asset to Reliable Properties for $44.7 million. The 136,908-square-foot asset was fully occupied at the time of sale. Long-term tenants include 99 Cents Only and Rite Aid. Additional tenants include DaVita Dialysis, Ace Cash Express, Dunkin’, Baskin Robbins, WaBa Grill, El Pollo Loco, T-Mobile, Panda Express and Boost Mobile. Orbell Ovaness and Ara Rostamian of the Ovaness-Rostamian Group of Marcus & Millichap represented the seller and procured the buyer in the transaction.

March 8, 2022

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