Acquisitions

JVM Realty Acquires 297-Unit Luxury Apartment Community in Itasca, Illinois

by Kristin Harlow January 21, 2022

ITASCA, ILL. — JVM Realty Corp. has acquired The Residences at Hamilton Lakes in Itasca, a northwest suburb of Chicago. The purchase price and seller were not released. The 297-unit luxury apartment community is located at 1133 N. Arlington Heights Road. Built in 2017, the property rises four stories with studio, one-, two- and three-bedroom floorplans. Amenities include a fitness center, pool, gourmet kitchen, outdoor patio space, theater and a rejuvenation center complete with a hot tub, steam room and sauna. This is the sixth acquisition for JVM Realty in the Chicagoland area. The company’s portfolio consists of 19 communities across four states.

January 21, 2022

Acquisitions Healthcare Industrial Midwest Minnesota

CBRE Brokers $14.8M Sale of Medical Office, Industrial Building in St. Paul

by Kristin Harlow January 21, 2022

ST. PAUL, MINN. — CBRE has brokered the sale of University Crossing in St. Paul for $14.8 million. The 84,150-square-foot medical office and industrial technology building is located at 2200 University Ave. The fully leased property was built in 1990. Judd Welliver, Sonja Dusil, Ryan Watts, Bentley Smith and Tom Holtz of CBRE represented the seller, Essjay Investments Co. LLC. Capital Partners LLP was the buyer.

January 21, 2022

Hilton-Garden-Inn-Denver-Airport-Aurora-CO

Acquisitions Colorado Hospitality Western

Marcus & Millichap Arranges $27.5M Sale of Hilton Garden Inn Denver Airport

by Amy Works January 21, 2022

AURORA, COLO. — Marcus & Millichap has brokered the sale of Hilton Garden Inn Denver Airport, a hospitality property located at 16475 E. 40th Circle in Aurora. The hotel traded hands for $27.5 million. The names of the seller and buyer were not released. Hilton Garden Inn Denver Airport features 157 guest rooms. The seller completed a renovation of the guest rooms in 2021, and the buyer plans to renovate the lobby and public areas in early 2022.

January 21, 2022

Acquisitions California Industrial Western

Paceline Divests of Light Industrial Building in San Francisco for $19.3M

by Amy Works January 21, 2022

SAN FRANCISCO — Paceline Investors has completed the disposition of 1270 Bush Street, a light industrial property in San Francisco. Sterling Organization acquired the asset for $19.3 million. Situated on a 18,906-square-foot lot, the 38,000-square-foot building is zoned for a wide range of residential and commercial uses. Mark Geisreiter, Seth McKinnon and Nadav Kariv of Newmark represented the seller and Florida-based buyer in the deal.

January 21, 2022

Acquisitions California Net Lease Retail Western

Hanley Investment Brokers $8.5M Sale of Smart & Final-Occupied Property in Murrieta, California

by Amy Works January 21, 2022

MURRIETA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant retail property located in Murrieta. A San Diego-based private partnership sold the building to Los Angeles-based Anza Drive Properties for $8.5 million. Smart & Final Extra occupies the 20,750-square-foot property, which is situated at the intersection of Madison Avenue and Los Alamos Road, on a net-lease basis. The building was built in 2003. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Kris Hons of Glendale, Calif.-based Stevenson Real Estate Services represented the buyer in the transaction.

January 21, 2022

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $6.5M Sale of Walgreens-Occupied Property in Suburban Chicago

by Kristin Harlow January 21, 2022

ROMEOVILLE, ILL. — Marcus & Millichap has arranged the sale of a Walgreens-occupied property in the Chicago suburb of Romeoville for $6.5 million. The 24-hour store is positioned at the entrance to Carillon, a master-planned retirement community. Brian Parmacek and Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the seller, a developer. Benjamin Kohl of Marcus & Millichap secured and represented the buyer, an out-of-state private investor. Frank Montalto and Dean Giannakopoulos of Marcus & Millichap Capital Corp. obtained acquisition financing on behalf of the buyer.

January 21, 2022

Acquisitions Industrial Self-Storage Texas

SkyView Advisors Arranges Sale of 881-Unit Self-Storage Facility in Metro Dallas

by Taylor Williams January 21, 2022

CARROLLTON, TEXAS — Tampa-based self-storage brokerage firm SkyView Advisors has arranged the sale of an 881-unit facility in the northern Dallas suburb of Carrollton that is operated by Life Storage. The property spans 90,656 net rentable square feet. Zachary Urow and Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. Additional terms of sale were not disclosed.

January 21, 2022

Acquisitions Multifamily Texas

Independence Commercial Advisors Negotiates Sale of 256-Unit Apartment Community in San Antonio

by Taylor Williams January 21, 2022

SAN ANTONIO — Locally based brokerage firm Independence Commercial Advisors (ICA) has negotiated the sale of Atrium Commons, a 256-unit apartment community located on the north side of San Antonio. The property was built in 1983 and features studio, one- and two-bedroom units. Amenities include a pool, fitness center, clubhouse and a dog park. Michael Moffitt of ICA represented the seller, a Texas-based limited liability company, in the transaction. The buyer and sales price were not disclosed.

January 21, 2022

Acquisitions Office Texas

Vista Cos. Sells 115,000 SF Office Building in North Austin

by Taylor Williams January 21, 2022

AUSTIN, TEXAS — An ownership group led by an affiliate of Houston-based investment and management firm Vista Cos. has sold Vista Park Central, a 115,000-square-foot office building located on Parmer Lane on the north side of Austin. The property was 93 percent leased at the time of sale. Kelsey Shebay and Drew Fuller of JLL represented Vista Cos., as well as the California-based buyer, in the transaction.

January 21, 2022

Acquisitions Retail Texas

Partners Capital Buys 98,522 SF Bay Pointe Shopping Center in Southeast Houston

by Taylor Williams January 21, 2022

HOUSTON — Partners Capital, the investment management platform and development arm of Partners Real Estate Co., has purchased Bay Pointe Shopping Center, a 98,522-square-foot shopping center in southeast Houston. Matt Berry, Robbie Kilcrease and Drew Reinking of CBRE represented the undisclosed seller in the transaction. Veritex Bank provided acquisition financing. The new ownership plans to expand the property, which was fully leased at the time of sale, with 30,000 square feet of new inline space.

January 21, 2022

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