Acquisitions

CGI+ Buys Alturas Multifamily Community in Oxnard, California for $50.7M

by Amy Works November 17, 2021

OXNARD, CALIF. — CGI+ Real Estate Strategies has acquired Alturas, a multifamily property located in Oxnard, for $50.7 million in an off-market transaction. The company plans to rebrand the 170-unit community as Via Oxnard. Built in 1965, the property features one-, two- and three-bedroom units with 76 percent being two-story townhomes. CGI+ plans to upgrade and renovated the non-renovated units and common areas. Greg Harris, Joe Grabiec and Kevin Green of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller and buyer in the deal.

November 17, 2021

Acquisitions Industrial Texas

HLCI Sells 700,000 SF Industrial Portfolio in Dallas Area to TA Realty

by Taylor Williams November 17, 2021

DALLAS — Locally based firm Holt Lunsford Commercial Investments (HLCI) has sold a portfolio of five shallow-bay industrial properties totaling approximately 700,000 square feet in the Dallas area to Boston-based investment firm TA Realty. The sales price was not disclosed. Two of the properties, Valwood Trade Center and Golden Bear Distribution Center, are located in Carrollton. The remainder of the portfolio consists of McKinney Logistics Center, Richardson Logistics Center and Edmonds Airport Trade Center, located in Lewisville. HLCI developed all of the assets between late 2020 and the summer of 2021.

November 17, 2021

Acquisitions Idaho Multifamily Western

RanchHarbor Acquires 112-Unit Glenbrook Apartments in Boise, Idaho

by Amy Works November 17, 2021

BOISE, IDAHO — Newport Beach, Calif.-based RanchHarbor has purchased Glenbrook Apartments, a multifamily community at 563 S. Curtis Road in Boise. A private seller sold the asset for an undisclosed price in an off-market transaction. Built in 1973 and lightly renovated in 2017, Glenbrook features 112 apartments in a mix of one- and two-bedroom units. At the time of sale, the property was 92 percent occupied. RanchHarbor plans to perform deferred maintenance and an extensive exterior renovation program on the property. The renovation plan includes paint, new laundry rooms, installation of a dog park and wash station, package locker system, bike racks, barbecue areas and a new playground, as well as updating the pool area and clubhouse. The company also plans to replace windows in all units, add carports and update the unit interiors. Jake Miles of Marcus & Millichap represented the buyer and seller in the deal.

November 17, 2021

Acquisitions Multifamily Texas

Newmark Brokers Sale of 334-Unit West Lake Vistas Apartment Community in Austin

by Taylor Williams November 17, 2021

AUSTIN, TEXAS — Newmark has brokered the sale of West Lake Vistas, a 334-unit apartment community located in northwest Austin. Built in 2009, the property features one-, two-, and three-bedroom units with an average size of 1,032 square feet. Amenities include three pools with lounge seating, two clubhouses with culinary presentation kitchens, a business center, dog park, 24-hour fitness center and media rooms. Patton Jones and Andrew Dickson of Newmark represented the seller, The Connor Group, in the transaction. Henry Stimler, Bill Weber and Ari Schwartzbard of Newmark arranged acquisition financing on behalf of the buyer, Houston-based Hines. The property was 96 percent occupied at the time of sale.

November 17, 2021

Acquisitions Industrial Texas

Stan Johnson Co. Arranges Sale of 28,907 SF Industrial Facility in Longview, Texas

by Taylor Williams November 17, 2021

LONGVIEW, TEXAS — Oklahoma-based brokerage firm Stan Johnson Co. has arranged the sale of a 28,907-square-foot industrial facility in Longview, located about 120 miles east of Dallas. The two-building complex was constructed in phases in the 1970s and is leased to utilities contractor ADB Cos. and S&B Engineers. Evan Altemus of Stan Johnson Co. represented the seller, a locally based private investor, in the transaction. An undisclosed, California-based 1031 exchange purchased the asset at a cap rate of 9.3. percent.

November 17, 2021

Acquisitions Healthcare Massachusetts Northeast

Newmark Brokers $29.5M Sale of Medical Office Building in Methuen, Massachusetts

by Taylor Williams November 17, 2021

METHUEN, MASS. — Newmark has brokered the $29.5 million sale of a 94,325-square-foot medical office building anchored by Dana-Farber Cancer Institute in the northern Boston suburb of Methuen. Robert Griffin, Frank Nelson, Michael Greeley and Allie Percoco of Newmark represented the seller, Marcus Partners, and procured the buyer, a joint venture between Celera Properties and AEW Capital Management. Newmark also arranged acquisition financing for the deal.

November 17, 2021

Acquisitions Connecticut Multifamily Northeast

CBRE Negotiates Sale of 250-Unit Tannery Apartments in Glastonbury, Connecticut

by Taylor Williams November 17, 2021

GLASTONBURY, CONN. — CBRE has negotiated the sale of The Tannery, a 250-unit apartment community in Glastonbury, a southern suburb of Hartford. Built in 2017, The Tannery offers a pool, sundeck with grilling areas, fitness center with a yoga studio, dog park, gaming area and a resident lounge. Units feature stainless steel appliances, granite countertops and wood-style vinyl plank flooring. Jeffrey Dunne, Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, a partnership between Lexington Partners LLC and a fund advised by UBS Realty Investors LLC, in the transaction. The team also procured the buyer, Jones Street Investment Partners.

November 17, 2021

Acquisitions Industrial South Carolina Southeast Top Stories

CRG Sells 1.4 MSF Distribution Center in South Carolina for $119.5M

by Kristin Harlow November 17, 2021

GREER, S.C. — Development and investment firm CRG has sold Building C at The Cubes at Inland 85 in Greer, located midway between Greenville and Spartanburg. Investment management firm PRP purchased the asset for $119.5 million. An affiliate of Techtronic Industries Co. Ltd. fully occupies the 1.4 million-square-foot distribution center. Techtronic is a global consumer products company headquartered in Hong Kong. Its brand portfolio includes Milwaukee, Ryobi, Hoover and others within the cordless power tools, accessories, floorcare and do-it-yourself segments. Completed in early November, Building C features a clear height of 36 feet, 246 dock doors, a 185-foot truck court and 555 trailer parking spaces. The building is situated five miles from the Greenville-Spartanburg International Airport and four miles from Inland Port Greer, with rail connection to the Port of Charleston. “The project benefits from great access to major transportation, which we know is more important than ever as e-commerce providers are striving to meet the growing consumer demands for quick delivery,” says Mike Demperio, partner and senior vice president of the Southeast region at CRG. “Additionally, Greenville-Spartanburg continues to be an attractive investment market because of its business-friendly, labor-rich environment and easy access to the Southeast and Eastern Seaboard.” …

November 17, 2021

Acquisitions Industrial Midwest Missouri

Cushman & Wakefield Brokers $75.1M Sale of Two Industrial Buildings in St. Louis

by Kristin Harlow November 16, 2021

ST. LOUIS — Cushman & Wakefield has brokered the sale of two industrial buildings totaling 1.1 million square feet in St. Louis for $75.1 million. The buildings are part of Gateway Commerce Center and are situated within the city’s Metro East submarket. The facilities, Gateway East 520 and Gateway East 624, were both developed in 2016. James Carpenter, Mike Hanrahan, Ed Lampitt and Elizabeth Given of Cushman & Wakefield represented the seller, Dallas-based L&B Realty Advisors. Plymouth REIT was the buyer.

November 16, 2021

Acquisitions Indiana Industrial Midwest

Holladay Properties Sells 97,412 SF Industrial Building in Elkhart, Indiana

by Kristin Harlow November 16, 2021

ELKHART, IND. — Holladay Properties has sold a 97,412-square-foot industrial building in Elkhart for an undisclosed price. The property, which is located at 2810 Bridger Court and built in 1999, is fully leased to All-State Industries and Midwest Sales and Service. Holladay acquired the asset from All-State Industries in 2020. Holladay’s Paul Phair coordinated the sale, while Ryan White of Pinnacle Properties represented the undisclosed buyer.

November 16, 2021

Newer Posts

Older Posts