Acquisitions

Link Logistics, Western Realco Acquire 16.4-Acre Industrial Redevelopment Site in Corona, California

by Amy Works January 24, 2022

CORONA, CALIF. — A partnership between Link Logistics and Western Realco has purchased a 16.4-acre industrial redevelopment site located at 1375 Magnolia Ave. in Corona. Terms of the acquisition were not released. Jeff Chiate, Mike Adey and Brad Brandenburg of Cushman & Wakefield’s National Industrial Advisory Group represented the undisclosed seller in the deal. Rick Ellison and Brett Lockwood of Cushman & Wakefield will handle leasing for the new project. The site has the potential to house two Class A industrial buildings totaling more than 300,000 square feet of warehouse space. Currently, the property consists of multiple older industrial structures originally built in the mid-1990s that would be demolished.

January 24, 2022

Acquisitions Industrial Oregon Western

Westcore Buys 405,000 SF Halsey Business Park in Gresham, Oregon for $54.1M

by Amy Works January 24, 2022

GRESHAM, ORE. — Westcore has purchased Halsey Business Park, an industrial asset located at 18225-18557 NE Halsey St. in Gresham. New York-based DRA Advisors sold the property for $54.1 million. American Direct, International Paper and Trailblazer Foods fully occupy the 405,000-square-foot facility. Westcore was self-represented, while Buzz Ellis, Mark Detmer, Ryan Sitov and Tyler Sheils of JLL represented the seller in the transaction.

January 24, 2022

Acquisitions Multifamily Texas

Korman Communities, Verde Capital Buy 288-Unit Apartment Community in Irving

by Taylor Williams January 24, 2022

IRVING, TEXAS — A joint venture between two metro Philadelphia-based firms, developer Korman Communities and private equity firm Verde Capital, has purchased AVE Las Colinas, a 288-unit apartment community in Irving. According to Apartments.com, the property was built in 2020. Units come in one- and two-bedroom formats and are furnished with stainless steel appliances, quartz countertops, tile backsplashes, brushed nickel hardware and individual washers and dryers. Amenities include a pool, business center, fitness center and a dog park. The seller and sales price were not disclosed.

January 24, 2022

Acquisitions Nevada Retail Western

DCG Arranges $34M Acquisition of South Meadows Promenade Shopping Center in Reno

by Amy Works January 24, 2022

RENO, NEV. — DCG has brokered the purchase of South Meadows Promenade, a retail center located on the corner of South Meadows Parkway and Double R Boulevard in Reno. An investor in a 1031 exchange acquired the property for $34 million. The name of the seller was not released. At the time of escrow, the 80,000-square-foot shopping center was 100 percent occupied. Current tenants include Sprouts Farmers Market, Marshalls, Pet Station, The Joint Chiropractic, Chase Bank, Chipotle, Panda Express, Starbucks Coffee, Blaze Pizza, Jersey Mike’s Subs and Sports Clips. Truckee Meadows Construction built the asset in 2017. Tom Fennell, Chris Shanks and Matt DeRicco of DCG represented the buyer in the deal.

January 24, 2022

Acquisitions Hospitality New York Northeast

Navika Group, Blue Sky Acquire 253-Room Andaz Wall Street in Manhattan

by Taylor Williams January 24, 2022

NEW YORK CITY — New York-based investment firm Navika Group of Cos. and Blue Sky Hospitality Solutions have acquired Andaz Wall Street, a 253-room hotel in Manhattan. Guestrooms range in size from 345 to 1,500 square feet, and amenities include 10,000 square feet of meeting and event space, as well as a new onsite restaurant and bar. The new ownership plans to invest about $5 million in capital improvements and to rebrand the property as the Hyatt Centric Wall Street New York.

January 24, 2022

Acquisitions Multifamily Northeast Pennsylvania

MultiVersity Housing Partners Buys Two Pittsburgh Multifamily Buildings Totaling 47 Units

by Taylor Williams January 24, 2022

PITTSBURGH — MultiVersity Housing Partners has purchased The Revival on Carson Portfolio, which consists of two Pittsburgh multifamily buildings that are known as The Maul and The Nakama and that total 47 units. The buildings include ground-floor retail space. MultiVersity plans to invest in capital improvements to the property through the additions of outdoor kitchens to the rooftop decks, more fitness equipment, a business center and updated lobby features. The seller was not disclosed.

January 24, 2022

Acquisitions Florida Multifamily South Carolina Southeast

West Shore Acquires Three Multifamily Properties in South Carolina, Florida

by Julia Sanders January 24, 2022

BOSTON — West Shore has acquired Sweetwater Apartments in Charleston, Vantage at Wildewood in Columbia, S.C., and Uptown Village in Gainesville, Fla. The acquisition brings the Boston-based investor’s total units to over 12,000. The sales price and sellers were not disclosed. Sweetwater Apartments is a 320-unit waterfront luxury community that offers studio, one-, two- and three-bedroom floorplans. Community amenities include community gardens, a fitness center, outdoor kitchen, yoga studio, six deep water docks, private boat ramp and a kayak ramp. Located at 12000 Sweet Place, the property is 17.7 miles from the College of Charleston and 10.7 miles from Charleston International Airport. Vantage at Wildewood, a 264-unit apartment complex with newly renovated units, offers one-, two- and three-bedroom floorplans. Unit features include in-unit washers and dryers, fireplaces and open layouts. Community amenities include a pool and an outside fireside sitting area. The property also has access to local trails and nearby parks. Located at 811 Mallet Hill Road, the property is 12.3 miles from the University of South Carolina. Uptown Village, formerly known as Evergreen at Uptown Village, is a 322-unit luxury apartment community that offers one-, two- and three-bedroom floorplans. Community amenities include a resort-style pool, shaded cabana, nature …

January 24, 2022

Acquisitions Florida Industrial Self-Storage Southeast

InSite Purchases, Rebrands 42,210 SF Self-Storage Property in Metro Miami

by Julia Sanders January 24, 2022

HOMESTEAD, FLA. — Torrance, Calif.-based InSite Property Group has purchased Storage Maxx, a 42,210-square-foot self-storage property in Homestead. The sales price and seller were not disclosed. The facility will be operated by InSite’s management firm and will be rebranded as SecureSpace Homestead. The property includes a three-story, climate-controlled building, several single-story buildings with drive-up and interior units and a 2.2-acre rentable parking area. The property was 96 percent occupied at the time of sale. Renovations are planned for the property, including a complete remodel of the leasing office, upgrades to the highway-facing signage, refreshed landscaping and a fresh paint scheme will be added throughout. A contactless infrastructure will also be implemented, as well as upgraded security systems replaced with the latest technology and free Wi-Fi offered across the entire site. Located at 1496 Old Dixie Highway, the property is situated 38.8 miles from Miami Beach, 25.1 miles from University of Miami and 32.1 miles from downtown Miami.

January 24, 2022

Acquisitions Illinois Industrial Midwest

ML Realty Partners Acquires 1 MSF Industrial Portfolio Across Greater Chicago Area

by Kristin Harlow January 24, 2022

CHICAGO — ML Realty Partners has acquired a 1 million-square-foot industrial portfolio in metro Chicago for an undisclosed price. The portfolio consists of 15 buildings within the I-55 corridor, Central DuPage, Lake County and O’Hare submarkets. The transaction also includes five shovel-ready land sites totaling 40 acres in the I-55 corridor and an additional five acres in Lake County. Jeff Devine, Steve Disse and Mike Senner of Colliers represented the undisclosed seller.

January 24, 2022

Acquisitions Midwest Ohio Retail

Cooper Group Brokers Sale of 11,746 SF Retail Center in Cincinnati

by Kristin Harlow January 24, 2022

CINCINNATI — Cooper Commercial Investment Group has brokered the sale of Meadows Plaza in Cincinnati for an undisclosed price. The 11,746-square-foot retail center is fully leased to tenants such as Harper’s Point Eye Associates, Allstate Insurance, Reliable Staffing and AnyLabTestNow. Dan Cooper of Cooper Group represented the seller, a metro Cincinnati-based private investor. A West Coast-based buyer purchased the property for the full price, representing a cap rate of 7.6 percent.

January 24, 2022

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