Acquisitions

Connolly, Coro Realty Purchase Sprouts-Anchored Shopping Center in Metro Atlanta for $40.5M

by John Nelson February 18, 2022

SANDY SPRINGS, GA. — Connolly, in a joint venture with Coro Realty Advisors, has purchased Sandy Springs Gateway, a 121,370-square-foot, grocery-anchored shopping center in Sandy Springs, about 16.2 miles from downtown Atlanta. The two Atlanta-based firms purchased the center from Atlanta-based Core Property Capital for $40.5 million. Anchored by Sprouts Farmers Market, Sandy Springs Gateway was 82 percent leased at the time of sale to tenants including Snooze A.M. Eatery, Taka Sushi and Passion, Big B’s Fish Joint, Tupelo Honey Café, Blast fitness studio, Corks & Caps, The Whole Dog Market, Chipotle, Kale Me Crazy, Buttermilk Sky Pie Shop and CVS. The property also features 28,000 square feet of second-story boutique office space. Conor Lalor and Eric Zimmerman of Eastdil Secured brokered the sale. Walker & Dunlop secured an undisclosed amount of financing through Credit Union Business Services and Georgia’s Own Credit Union. Coro Realty will manage the property, and LaVista Associates Inc. will lease the retail space.

February 18, 2022

Acquisitions Georgia Multifamily Southeast

Crown Bay Group Sells Apartment Community in Southwest Atlanta for $37.1M

by John Nelson February 18, 2022

ATLANTA — Crown Bay Group has sold FortyThree 75 Apartments, a 260-unit multifamily community in southwest Atlanta, for $37.1 million. Chandler Brown, Barden Brown and Taylor Brown of Global Real Estate Advisors represented the seller in the transaction. The Beach Co. was the buyer. Built in 1974, FortyThree 75 offers one-, two- and three-bedroom floorplans. Unit features include hardwood floors, home alarms, walk-in closets and washer and dryer connections. Community amenities include a leasing office, clubhouse, fitness center, swimming pool, grilling/picnic pavilion, laundry center playground and a dog park. The buyer plans to complete interior and exterior renovations, as well as add amenities. Located at 4375 Cascade Road, the property is situated 12.1 miles west from downtown Atlanta and 12.3 miles from the Hartsfield-Jackson Atlanta International Airport.

February 18, 2022

Acquisitions Florida Office Southeast

CBRE Arranges Sale of 42,442 SF Office Building in Fort Lauderdale

by John Nelson February 18, 2022

FORT LAUDERDALE, FLA. — CBRE has arranged the $7 million sale of a 42,442-square-foot office building in Fort Lauderdale known as the 5100 Building. The buyer, medical office user Hall Consolidated Group LLC, plans to eventually occupy the property. Benjamin Silver with CBRE represented the seller, an entity known as 5100 Realty LLC, in the transaction. The seller is an affiliate of Cambridge Security, the property’s anchor tenant that plans to eventually vacate the office building. Originally built in 1972, the four-story office building received several capital improvements last year, including a new roof, exterior waterproofing, lobby upgrades and the replacement of several air conditioning units. The buyer plans to make further improvements Located at 5100 N. Federal Highway, the property is situated close to the area’s largest medical provider, Holy Cross Hospital, a 557-bed healthcare facility. The property also has nearby access to Interstates 95, 441 and Florida Turnpike from East Commercial Boulevard.

February 18, 2022

Acquisitions New York Northeast Office

Argent Ventures Acquires 715,365 SF Office Complex in White Plains, New York

by Taylor Williams February 18, 2022

WHITE PLAINS, N.Y. — Locally based investment firm Argent Ventures has acquired White Plains Plaza, a 715,365-square-foot office complex located north of New York City, for $105 million. The two-building complex was 76 percent leased to a roster of 74 tenants at the time of sale. Kevin Welsh, Brian Schulz, Jason Emrani, Evan Layne, Brett Siegel, Alex Foshay and Glenn Walsh of Newmark represented the seller, a partnership between Ivy Realty and DW Capital, in the transaction. Anthony Orso and Ari Schwartzbard of Newmark arranged acquisition financing on behalf of Argent Ventures.

February 18, 2022

Acquisitions Industrial NAI Northeast Pennsylvania

NAI Mertz Brokers Sale of 180,000 SF Industrial Park in Upper Moreland, Pennsylvania

by Taylor Williams February 18, 2022

UPPER MORELAND, PA. — NAI Mertz has brokered the sale of Huntingdon Glen Business Campus, a 180,000-square-foot industrial park in Upper Moreland, located in Bucks County. The 16.8-acre development, which was 98 percent leased to a roster of 38 tenants at the time of sale, consists of five buildings that range in size from 8,000 to 64,000 square feet. Metro Philadelphia-based Velocity Venture Partners purchased Huntingdon Glen Business Park from an undisclosed seller. Jeff Licht and Jared Licht of NAI Mertz brokered the deal.

February 18, 2022

Acquisitions Massachusetts Net Lease Northeast Retail

JLL Negotiates Sale of 115,650 SF Retail Building Leased to BJ’s Wholesale Club in Metro Boston

by Taylor Williams February 18, 2022

ATTLEBORO, MASS. — JLL has negotiated the sale of a 115,650-square-foot retail building in the southern Boston suburb of Attleboro that is net leased to BJ’s Wholesale Club. The tenant has occupied the building since its original construction in 2011. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction. The buyer and sales price were also undisclosed.

February 18, 2022

Acquisitions Colorado Office Western

Dornin Investment Group Sells 138,771 SF Highland Place Office Property in Centennial, Colorado

by Amy Works February 18, 2022

CENTENNIAL, COLO. — Orange County, Calif.-based Dornin Investment Group has completed the disposition of Highland Place I, an office building located at 8085 Chester St. in Centennial. Bridle Dale LLC acquired the asset for $22.2 million. Jon Hendrickson, Aaron Johnson, Eric Wichterman and Mike Coover of Cushman & Wakefield represented the seller in the transaction. Built in the 1980s, Highland Place I features 138,771 square feet of office space on 6.2 acres within the Panorama/Highland Business Park, a 115-acre master-planned business park in Denver’s Southeast Suburban submarket. The property features a full-height atrium lobby, fitness center, outdoor seating area and Rocky Mountain views.

February 18, 2022

Acquisitions California Office Western

Buck Design Acquires Creative Office Building in Downtown Los Angeles for $26.5M

by Amy Works February 18, 2022

LOS ANGELES — Buck Design, a global creative agency, has acquired a creative office property in Los Angeles for its West Coast operations. Brickstar Capital sold the asset for $26.5 million. Located at 120 S. San Pedro St., the building features 79,249 square feet of creative office space. Brickstar Capital purchased the property in 2017 and transformed it into a creative campus in 2020 with an updated lobby, private patio and new gym. The building was originally built in 1985 and includes ground-floor retail and subterranean parking. Jack Cline, Doug Cline and Even Jurgensen of Lee & Associates represented the buyer, while Taylor Watson, Brad Chelf, Phillip Sample, Chris Caras, Michael Shustak and Ryan Phillips of CBRE represented the seller in the deal.

February 18, 2022

Hampton-Inn-Phoenix-Airport-North-Phoenix-AZ

Acquisitions Arizona Hospitality Western

CBRE Negotiates Purchase of 106-Room Hampton Inn Phoenix Airport North

by Amy Works February 18, 2022

PHOENIX — CBRE has arranged the acquisition of Hampton Inn Phoenix Airport North, a hotel located near Phoenix Sky Harbor International Airport in Phoenix. A private, California-based investor acquired the asset from a Washington, D.C.-based real estate investment firm for an undisclosed price. Located at 601 N. 44th St., the hotel features 106 guest rooms, three meeting rooms, 2,024 square feet of event space, a fitness center and outdoor pool. Jennifer Bergamo, Rick Rush and Cater Gradwell of CBRE Hotels Capital Markets represented the buyer and seller in the transaction.

February 18, 2022

Acquisitions Multifamily Oregon Western

Brinkman Enters Oregon Market with Acquisition of Willow Tree Place Apartments in Salem

by Amy Works February 18, 2022

SALEM, ORE. — Brinkman Real Estate has purchased Willow Tree Place Apartments, a multifamily community in Salem, for an undisclosed price. The transaction is Brinkman’s first acquisition in the Oregon multifamily market. Built in 2021, Willow Tree Place features 96 two- and three-bedroom garden-style apartments with Class A interior finishes. Brady O’Donnell, Jeff Halsey, Alex Scott and Jill Haug of CBRE Capital Markets’ Debt & Structured Finance group in Denver arranged a bridge loan through Ladder Capital for the buyer. Gabe Johansen of SMI Real Estate represented the undisclosed seller in the deal.

February 18, 2022

Newer Posts

Older Posts