Acquisitions

Hines Acquires Four-Building Liberty Station Office Campus in San Diego

by Amy Works January 31, 2022

SAN DIEGO — Hines Global Income Trust has purchased Liberty Station, a four-building office campus located in the Old Town/Point Loma submarket of San Diego. Terms of the transaction were not released. The 187,000-square-foot campus is situated on the waterfront within a 360-acre mixed-use site with convenient access to major employment nodes and the San Diego International Airport. The site also features more than 100 walkable amenities, 349 residential units, a golf club, retail shops, restaurants, the Liberty Public Market and 125 acres of parks and recreation space.

January 31, 2022

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Brokers $13.4M Sale of Shopping Center in Gloucester, Massachusetts

by Taylor Williams January 31, 2022

GLOUCESTER, MASS. — Marcus & Millichap has brokered the $13.4 million sale of Cape Ann Marketplace, a 102,977-square-foot shopping center in the coastal Massachusetts city of Gloucester. Grocer Shaw’s serves as the center’s anchor tenant. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller and sourced the buyer, both of which requested anonymity, in the transaction.

January 31, 2022

Acquisitions California Office Western

Lone Cypress Realty Sells 38,154 SF Office Building in Aliso Viejo for $10.5M

by Amy Works January 31, 2022

ALISO VIEJO, CALIF. — Fort Worth, Texas-based Lone Cypress Realty has completed the disposition of VIEW at 101 Columbia, a Class B office property in Aliso Viejo. Holt Integrated Circuits purchased the asset for $10.5 million. The integrated circuits supplier for the aerospace industry plans to use the 38,154-square-foot building with the ground-floor for warehousing and the second floor for corporate offices. The property was renovated in 2020 with modern entry finishes and light fixtures, as well as updated two-tone exterior paint. Mike Adams and Morgan Adams of Stream Greater L.A. represented the seller in the transaction.

January 31, 2022

Acquisitions Multifamily Nevada Western

Northcap Commercial Brokers $9.1M Sale of Pine Vista Apartments in Las Vegas

by Amy Works January 31, 2022

LAS VEGAS — Northcap Commercial has arranged the sale of Pine Vista Apartments, a multifamily community in Las Vegas. Pine Vista Apartments LLC sold the asset to an undisclosed buyer for $9.1 million, or $114,375 per unit. Located at 1536 N. 22nd St. and 1537 N. 23rd St., Pine Vista Apartments features 80 units. The property was built in 1963. Jason Dittenber, Jerad Roberts, Devin Lee and Robin Willet of Northcap Commercial represented the seller in the off-market, all-cash transaction.

January 31, 2022

Acquisitions Multifamily Student Housing Texas

Joint Venture Acquires 792-Bed Student Housing Community in College Station

by Taylor Williams January 28, 2022

COLLEGE STATION, TEXAS — A joint venture between TEXLA Housing Partners and a private equity fund advised by Crow Holdings Capital has acquired Holleman Crossing, a 792-bed student housing community located near Texas A&M University in College Station. The garden-style property offers one-, two- and four-bedroom units across 20 buildings. Shared amenities include a resort-style pool, 24-hour fitness center, private study rooms, and a dog park. Jeyton McNair and Greg Jasper of Stafford Barrett represented the undisclosed seller and procured the buyer in the transaction. The joint venture plans to implement a capital improvement program.

January 28, 2022

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 677-Unit Self-Storage Portfolio in Santa Fe, Texas

by Taylor Williams January 28, 2022

SANTA FE, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of four self-storage properties totaling 677 units in Santa Fe, located south of Houston in Galveston County. All four properties were built between 1979 and 1984 on a combined 4.4 acres. The portfolio consists of 655 non-climate-controlled units, 21 outdoor parking spaces and an efficiency apartment. Dave Knobler of Marcus & Millichap represented the seller, private investor Raymond Haak, in the transaction. Knobler also procured a Los Angeles-based private investor as the buyer.

January 28, 2022

Acquisitions Industrial Texas

JLL Negotiates Sale of 385,472 SF Industrial Park in Metro Dallas

by Taylor Williams January 28, 2022

DESOTO, TEXAS — JLL has negotiated the sale of I-20 Corporate Center, a 385,472-square-foot industrial park in the southern Dallas suburb of DeSoto. Built in 1986 and expanded in 1992, the property serves as the North American headquarters of Diab America, a manufacturer of core materials for the marine and aerospace industries. Building features include 28- to 33-foot clear heights, 21 overhead dock doors and roughly 23,000 square feet of office space. Stephen Bailey, Dustin Volz, Zach Riebe and Pauli Kerr of JLL represented the seller, locally based investment firm Bradford Cos., in the transaction. The buyer was a joint venture between Denver-based Triumph Capital Group and Mexico City-based Abilia.

January 28, 2022

Acquisitions Development Florida Industrial Southeast

MDH Partners Acquires Development Site in Ocala, Florida for 350,878 SF Industrial Project

by Julia Sanders January 28, 2022

OCALA, FLA. — Atlanta-based MDH Partners has acquired 28 acres of industrial land in Ocala, with plans to construct Ocala Logistics Center, a 350,878-square-foot Class-A, cross-dock distribution building. The seller and the sales price for the land were not disclosed. Joe DeHaven served as the deal lead for MDH Partners. Clay Witherspoon with Avison Young represented the seller and will also lease the property on behalf of MDH. Peak Development Co. will act as the development manager for the project. Situated on 27.9 acres of land, Ocala Logistics Center will feature 279 parking spaces, ESFR sprinkler systems and 36-foot clear heights. Located at the corner of NW 35th Street and NW 27th Avenue, the facility is located a half-mile from Interstate 75 and 25 miles north of the Florida Turnpike Junction. The development of Ocala Logistics Center will increase MDH’s Florida footprint to over 1.5 million square feet.

January 28, 2022

Acquisitions Industrial Office Texas

Partners Capital Sells 149,305 SF Industrial Flex Property in Webster, Texas

by Taylor Williams January 28, 2022

WEBSTER, TEXAS — Partners Capital, the investment management platform and development arm of Partners Real Estate Co., has sold Clear Lake Business Park, a 149,305-square-foot industrial flex property located in the southern Houston suburb of Webster. Cary Latham and Josh Lass-Sughrue of NAI Partners represented Partners Capital, which originally acquired the asset in February 2019, in the transaction. The buyer and sales price were not disclosed.

January 28, 2022

Acquisitions New Jersey Northeast Office

Partnership Buys 523,000 SF Waterfront Office Building in Hoboken

by Taylor Williams January 28, 2022

HOBOKEN, N.J. — A partnership between New York City-based developer SJP Properties and private investor David Werner has purchased Waterfront Corporate Center I, a 523,000-square-foot waterfront office building in Hoboken. The 14-story tower, which also houses 35,000 square feet of retail space that is fully leased, is part of a three-building, 1.5 million-square-foot campus that was originally developed by SJP between 2002 and 2014. With this buyback, SJP now owns and manages the entirety of Waterfront Corporate Center. Miami-based 3650 REIT contributed a $30 million preferred equity investment to the deal. Mack Cali Realty Corp. sold the building for an undisclosed price. Waterfront Corporate Center I was roughly 80 percent leased at the time of sale, while Waterfront Corporate Center II and III are fully leased.

January 28, 2022

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