Acquisitions

TruAmerica Multifamily Buys Two Properties in Houston Totaling 652 Units

by Taylor Williams November 23, 2021

HOUSTON — Los Angeles-based TruAmerica Multifamily has purchased two properties in Houston totaling 652 units. Camden Oak Crest totals 364 units, and Camden Park totals 288 units. The two garden-style properties are located 1.5 miles apart in the Westchase neighborhood and feature a mix of one-, two- and three-bedroom units. Amenities at both communities include pools, fitness centers and outdoor grilling areas. David Mitchell of Newmark brokered the sale between TruAmerica and the undisclosed, Houston-based REIT that developed the properties. Ryan Greer of CBRE arranged acquisition financing on behalf of the buyer, which will respectively rebrand the assets as Oak Crest and Wood Park.

November 23, 2021

Acquisitions Illinois Midwest Retail

L3 Capital Acquires 10,000 SF Retail Property in Chicago

by Kristin Harlow November 23, 2021

CHICAGO — L3 Capital has acquired 1051 N. Rush, a high-profile retail property in Chicago’s Gold Coast neighborhood. The purchase price was undisclosed. The two-level asset spans 10,000 square feet and is fully leased to Vans and Uniform Teeth. Marol Rush was the seller. Keely Polczynski of CBRE brokered the transaction.

November 23, 2021

Acquisitions Nevada Office Western

Voit Real Estate Services Negotiates Purchase of 204,123 SF Office Building in Las Vegas

by Amy Works November 23, 2021

LAS VEGAS — Voit Real Estate Services has arranged the acquisition of a six-story office building located at 2716 N. Tenaya Way in Las Vegas. San Diego-based Premier Realty Holdings LP (PRH XXXV LLC) purchased the property for $67 million. United HealthCare Services occupies the 204,123-square-foot property, which features a campus conference facility, auditorium, full-service cafeteria, multiple break rooms and a credit union, as well as an on-site, five-story parking structure. The healthcare company uses the office property to house its administrative and operations functions of OptumHealth, United HealthCare’s data and health intelligence business. Mike Bench of Voit represented the buyer, while Rick Reeder, Brad Tecca, Marlene Fujita and Charles Moore of Cushman & Wakefield represented the seller in the transaction.

November 23, 2021

Acquisitions Illinois Life Sciences Midwest

JLL Brokers Sale of 228,362 SF Life Sciences Building in Skokie, Illinois

by Kristin Harlow November 23, 2021

SKOKIE, ILL. — JLL Capital Markets has brokered the sale of 4901 Searle Parkway, a 228,362-square-foot life sciences building in Skokie. The sales price was undisclosed. Located within the Illinois Science + Technology Park, the property originally served as the headquarters of pharmaceutical giant G.D. Searle. Today, the building is leased to NorthShore University HealthSystem. Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller and Brian Shanfeld of JLL represented the seller, American Landmark Properties. TopMed Realty, a private equity firm focused on healthcare real estate, was the buyer.

November 23, 2021

Acquisitions Retail Utah Western

Matthews Brokers $8.4M Sale of Walgreens-Occupied Retail Property in Riverton, Utah

by Amy Works November 23, 2021

RIVERTON, UTAH — Matthews Real Estate Investment Services has arranged the acquisition of a retail property located at 12623 S. Redwood Road in Riverton. An undisclosed buyer purchased the asset for $8.4 million in a 1031 exchange. Anthony Connell, Preston Schwartz, David Harrington and Chad Kurz of Matthews handled the transaction.

November 23, 2021

Acquisitions Multifamily Texas

IPA Negotiates Sale of 165-Unit Radius Turtle Creek Apartments in Dallas

by Taylor Williams November 23, 2021

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Radius Turtle Creek, a 165-unit apartment community in Dallas. The property was built in 2001 and offers one- and two-bedroom units, as well as a pool and an internet lounge. A partnership between McCann Realty Partners and The Carlyle Group sold the community to Dallas-based Colgate McCallum for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Grant Raymond and Will Balthrope of IPA brokered the deal on behalf of both parties.

November 23, 2021

Acquisitions Arizona Retail Western

ORION Investment Real Estate Arranges Sale of 62,000 SF Central Marketplace in Goodyear, Arizona

by Amy Works November 23, 2021

GOODYEAR, ARIZ. — ORION Investment Real Estate has brokered the sale of Central Marketplace, a 62,000-square-foot retail center located at the northwest corner of Central Avenue and Van Buren Street in Goodyear. A California-based seller sold the asset to an undisclosed buyer for $9.8 million in an all-cash transaction. Ari Spiro, Sean Stutzman, Michael Achtman and Jennifer Eggert of ORION handled the transaction. At the time of sale, the 62,000-square-foot property was 98 percent occupied and anchored by the busiest 99 Cents Only stores in Arizona, according to ORION.

November 23, 2021

Acquisitions Arizona Retail Western

Newmark Brokers $5.3M Sale of Retail Center in Gilbert, Arizona

by Amy Works November 23, 2021

GILBERT, ARIZ. — Newmark has arranged the sale of Centre at Higley-Williams Field, a shopping center located at 2473 S. Higley Road in Gilbert. Bruce Galloway (Higley Evergreen) sold the asset to Brandon Sparks (BedTech) for $5.3 million. Built in 2004, Centre at Higley-Williams Fields features 12,190 square feet of retail space leased to six tenants. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller and buyer in deal.

November 23, 2021

990-Corporate-Center-Framingham-Massachusetts

Acquisitions Life Sciences Massachusetts Northeast Office

Newmark Brokers Sale of 400,000 SF Office, Lab Campus in Metro Boston

by Taylor Williams November 23, 2021

FRAMINGHAM, MASS. — Newmark has brokered the sale of 9/90 Corporate Center, a 400,000-square-foot office and laboratory campus located in the western Boston suburb of Framingham. The three-building property was roughly 80 percent leased to 12 tenants at the time of sale. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the undisclosed seller and procured the buyer, a partnership between Outshine Properties and Jadian Capital, in the transaction.

November 23, 2021

Acquisitions Northeast Pennsylvania Retail

JLL Negotiates Sale of 236,277 SF Red Lion Plaza Shopping Center in Philadelphia

by Taylor Williams November 23, 2021

PHILADELPHIA — JLL has negotiated the sale of Red Lion Plaza, a 236,277-square-foot shopping center in Philadelphia. Built in 1962 and expanded in 2021, the property was 97 percent leased at the time of sale. Tenants include Burlington, Ross Dress for Less, Pep Boys, Planet Fitness, Mattress Firm, Panera Bread, Aspen Dental and Tropical Smoothie Café. Jim Galbally, Chris Munley and Colin Behr of JLL represented the seller, a partnership between Finmarc Management Inc. and New York City-based KPR, in the deal. Michael Pagniucci of JLL arranged acquisition financing through a regional bank on behalf of the undisclosed buyer. The nonrecourse loan was structured with a 12-year term and a fixed interest rate.

November 23, 2021

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