Acquisitions

22600-22700-E-I-76-Frontage-Rd-Brighton-CO

CBRE Negotiates Sale of Two Distribution Buildings in Denver’s I-76 Corridor

by Amy Works January 19, 2022

BRIGHTON, COLO. — CBRE has arranged the sale of Buildings 4 and 5 within 76 Commerce Center, a logistics park in Denver’s I-76 corridor. Principal Real Estate Advisors acquired the assets from Mortenson Properties and Hyde Development for an undisclosed price. Tyler Carner, Jeremy Ballenger, Jessica Ostermick, Judson Welliver, Sonja Dusil and Bentley Smith of CBRE represented the sellers in the transaction. Located at 22600 and 22700 E. I-76 Frontage Road in Brighton, Buildings 4 and 5 total 618,480 square feet and are fully leased. Building 5 was constructed in 2018 and Building 4 in 2020. The buildings have Class A features throughout, in addition to fenced outside storage, trailer parking and office space. 76 Commerce Center is a 155-acre regional distribution center with one full mile of Interstate 76 frontage and immediate interstate access. At full build out, the project will have four buildings totaling 1.7 million square feet.

January 19, 2022

Acquisitions Industrial Michigan Midwest

Colliers Negotiates Sale of 51,954 SF Industrial Flex Building in Southfield, Michigan

by Kristin Harlow January 19, 2022

SOUTHFIELD, MICH. — Colliers Detroit has negotiated the sale of a 51,954-square-foot industrial flex building in Southfield for an undisclosed price. The property is located at 26545 American Drive. John Fricke, Peter Kepic and Jonathon Loos of Colliers represented the seller, Veoneer, which previously used the building as office space. Oakland Family Centers, a family mental health services organization with existing locations in Michigan, was the buyer. Oakland plans to take occupancy this quarter.

January 19, 2022

Acquisitions Arizona Restaurant Retail Western

Hanley Investment Negotiates $7.1M Sale of Portillo’s Drive-Thru Property in Glendale, Arizona

by Amy Works January 19, 2022

GLENDALE, ARIZ. — Hanley Investment Real Estate Advisors has brokered the sale of a newly constructed, single-tenant restaurant property located 17125 N. 79th Ave. in Glendale. An Orange County, Calif.-based private investor sold the asset to a Los Angeles County-based private investor for $7.1 million. Portillo’s occupies the 7,800-square-foot restaurant building, which is situated on 1.9 acres. The property features an outdoor patio and a double-lane drive-thru. The diner-themed restaurant, which opened in April 2021, serves Chicago-style hot dogs, Italian beef sandwiches, chargrilled burgers, fresh salads and chocolate cake. Bill Asher, Jeff Lefko and Ed Hanley of Hanley Investments represented the seller, while Chuck Wilson and Kenny Patricia of Colliers’ Irvine, Calif., office represented the buyer in the deal. Lee Csenar of Hanley Investment Real Estate Advisors served as broker of record in Arizona.

January 19, 2022

Acquisitions Connecticut Multifamily Northeast Seniors Housing

Senior Living Residences Acquires Former Atria Community in Ridgefield, Connecticut

by Taylor Williams January 19, 2022

RIDGEFIELD, CONN. — New England-based Senior Living Residences (SLR) has acquired a former Atria Senior Living Community in Ridgefield, located approximately 50 miles northeast of Manhattan along the New York-Connecticut border. SLR is rebranding the community, which opened in 2020, as Ridgefield Station Senior Living. The number of units and types of services provided were not disclosed.

January 19, 2022

Acquisitions Data Centers Industrial Texas Top Stories

CyrusOne Agrees to Sell Four Data Centers in Houston for $670M

by Kristin Harlow January 19, 2022

HOUSTON — CyrusOne Inc. (NASDAQ: CONE) has entered into a definitive agreement to sell four of its data centers in Houston for approximately $670 million. Under the terms of the agreement, DataBank Holdings Ltd. will acquire Houston West I, II and III, as well as Houston Galleria. The four facilities total more than 300,000 square feet. Additionally, CyrusOne will lease back the Houston West III shell to support a lease signed with a customer in the fourth quarter of 2021. The transaction is expected to close by the end of this quarter. Proceeds from the sale will be utilized to fund future development projects. “We are excited to execute on our capital recycling initiative to fund our continued growth,” says David Ferdman, interim president and CEO of Dallas-based CyrusOne. “This divestiture further optimizes our portfolio as we redeploy capital into accretive developments across core markets with diverse hyperscale and enterprise demand in the U.S. and Europe.” The transaction marks DataBank’s entry into the Houston market. “With our deep roots in Texas, [Houston] was a logical metro for us to expand into and allows us to bring our digital infrastructure and interconnection solutions to the fourth-largest metro in the U.S.,” says …

January 19, 2022

Acquisitions Florida Multifamily Southeast

Cushman & Wakefield Arranges $33.4M Sale of Two Apartment Communities in Gainesville, Florida

by Julia Sanders January 18, 2022

GAINESVILLE, FLA. — Cushman & Wakefield has arranged the $33.4 million sale of two apartment communities in Gainesville known as Mount Vernon and Williamsburg Village. Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the seller, a New York-based private equity fund, in the transaction. An undisclosed private investor based in Orlando was the buyer. Mount Vernon is located at 2370 SW Archer Road, and Williamsburg Village is located at 2000 SW 16th St. Both multifamily communities offer one-, two- and three-bedroom floorplans. Unit features at both apartment communities include stainless steel appliances, laminate countertops, wood-style vinyl flooring, ceiling fans in living rooms and bedrooms, window coverings and a patio or balcony. Both properties feature a swimming pool, poolside fire pit, grilling station and onsite laundry services. Mount Vernon was 95 percent occupied at the time of sale, while Williamsburg Village was 93 percent occupied at the time of sale. Both properties are located close to retailers such as Butler Pizza, Whole Foods Market, Lowe’s Home Improvement, Total Wine & More, Trader Joe’s and Target. The properties are also situated close to the University of Florida College of Medicine, University of Florida College of Veterinary Medicine and the Gainesville …

January 18, 2022

Acquisitions Alabama Multifamily Seniors Housing Southeast Tennessee

Atlas Senior Living, Salta Capital Acquire Two Properties in Alabama and Tennessee

by Julia Sanders January 18, 2022

ATHENS, ALA. AND SPRING HILL, TENN. — Birmingham-based Atlas Senior Living and Salta Capital have acquired two new senior living communities, The Goldton at Athens in Athens and The Goldton at Spring Hill in Spring Hill, bringing their total number of properties in their owned portfolio to 32. The seller and sales price were not disclosed. Atlas will be the owner-operator of the communities, which will be rebranded. Located at 22171 Traditions Way, The Goldton at Athens totals 75,824 square feet, comprising 12 independent living residences and 72 assisted living residences. Located at 3056 Miles Johnson Parkway, The Goldton at Spring Hill totals 66,395 square feet comprising 63 assisted living residences and 16 memory care residences.

January 18, 2022

Acquisitions Office Southeast Virginia

Avison Young Brokers $12.9M Sale of Two Office Properties in Metro D.C.

by Julia Sanders January 18, 2022

KINGSTOWNE, VA. — Avison Young’s Capital Markets Group has brokered the sale of two office buildings located in Kingstowne, a live-work-play community situated about 16.3 miles south of Washington, D.C. Melrose Solomon Enterprises purchased the two office buildings, 5695 Kings Centre Drive and 5901 Kingstowne Village Parkway, for $12.9 million. Chip Ryan and Matt Weber of Avison Young represented the seller, The Halle Cos., in the transaction. Jon Goldstein, Wes Boatwright and Mike Yavinsky of Avison Young arranged the undisclosed amount of acquisition financing on behalf of Tenafly, N.J.-based Melrose Solomon. 5695 Kings Centre Drive is a three-story, 44,262-square-foot office building constructed in 2002, and 5901 Kingstowne Village Parkway features 8,000-square-foot floorplans and has 22,117 square feet of net rentable space. The properties were a combined 93 percent leased to a variety of medical office, government contractors and traditional office tenants at the time of sale. Developed by The Halle Cos. in the mid-1980s, Kingstowne spans 1,200 acres and is Northern Virginia’s second largest master-planned community. Kingstowne has more than one million square feet of retailers and office buildings.

January 18, 2022

Acquisitions Illinois Industrial Midwest

Colliers Brokers Sale of 400,000 SF Distribution Center in Rochelle, Illinois

by Kristin Harlow January 18, 2022

ROCHELLE, ILL. — Colliers has brokered the sale of a 400,000-square-foot distribution center located at 101 N. Centerpoint Drive in Rochelle, about 25 miles south of Rockford. The sales price was undisclosed. Situated on 21 acres, the building features a clear height of 30 feet, 40 truck docks and 79 trailer spots. The facility is fully leased to global toy manufacturer TOMY, which has been the sole occupant since the building’s completion in 2004. Jeff Devine and Steve Disse of Colliers brokered the transaction. Hillwood Development purchased the asset from a fund advised by the U.S. real estate business of UBS Asset Management.

January 18, 2022

Acquisitions Illinois Midwest Multifamily

Monarch Realty Partners Negotiates $13.6M Sale of Apartment Building in Libertyville, Illinois

by Kristin Harlow January 18, 2022

LIBERTYVILLE, ILL. — Monarch Realty Partners has negotiated the $13.6 million sale of The Manchester in Libertyville, a northern suburb of Chicago. The property includes 34 luxury apartment units, five commercial spaces, a parking garage with 36 spaces and an additional 37 outdoor parking spaces. Located at 115 Lake St. and originally constructed in 2008, the building was renovated in 2016. Bill Baumann and Michael Anguiano of Monarch brokered the sale. Buyer and seller information was not provided.

January 18, 2022

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