SAVANNAH, GA. — NAI Brannen Goddard has arranged the sale of 6030 Commerce Blvd., a 400,000-square-foot distribution center in Savannah. Joseph Mullican of NAI Brannen Goddard represented the buyer, New York-based Brookfield Properties. The seller and sales price were not disclosed. The 6030 Commerce Blvd. distribution building is located less than two miles from the Port of Savannah and has access to Interstate 95. The front-load building features 28- to 30-foot clear heights, 31 dock-high doors, 70 extra trailer spaces, 180-foot concrete truck courts, ESFR sprinklers and a recently constructed loading platform.
Acquisitions
TEMPLE, GA. — Atlanta-based Ackerman & Co. has acquired a 102,856-square-foot distribution and manufacturing facility located at 134 Janus International Blvd. in Temple, about 40 miles west of downtown Atlanta. The sales price was $6.8 million. Daniel Levison of CRE Holdings represented Ackerman & Co. in the acquisition, and Neal Shiver of King Industrial Realty/CORFAC International represented the undisclosed seller. The 134 Janus International Blvd. facility is fully occupied by Janus International Group, a Temple-based manufacturer of self-storage and commercial industrial doors and storage facility components. Brett Buckner of Ackerman completed a 10-year lease extension with Janus International Group. Built in 2001 on 12 acres, the building features 24-foot clear heights. The property is located next to Janus’ 217,050-square-foot global headquarters. Janus also has other locations in the United States including in Arizona, California, Florida, Indiana, Texas and Washington.
LAKE JACKSON, TEXAS — Fairstead, a residential investment firm with three offices along the East Coast, has acquired Lake Jackson Apartments, a 160-unit mixed-income community located on the southern outskirts of Houston. The property consists of 11 residential buildings and one communal building on a 14-acre site. The property’s affordable units are reserved for renters earning 60 percent or less of the area median income (AMI). Amenities include a pool, fitness center, dog park, playground, volleyball court and storage units. Fairstead plans to invest about $14 million in capital improvements and preserve affordability by converting a portion of the market-rate units into affordable housing for families earning 80 percent or less of AMI. The seller was not disclosed.
Realterm Logistics Acquires E-Commerce Distribution Facility in North Denver for $94.8M
by Amy Works
BROOMFIELD, COLO. — Annapolis, Md.-based Realterm Logistics has purchased a warehouse and distribution building, located at 400 W. 160th Ave. in Broomfield. Colorado-based McWhinney sold the asset for $94.8 million. Built in fourth-quarter 2021, Amazon occupies the 200,864-square-foot facility. The property features 36-foot clear heights, heating throughout, ESFR sprinklers, ample power, energy-efficient lighting, multiple points of ingress and egress and a concrete truck court apron. Additionally, the property offers a flexible office layout, four entrances/exits, ample outdoor amenity space and extensive landscaping. Will Strong, Jeff Chiate, Kirk Kuller, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield represented the seller. Alec Rhodes and Aaron Valdez of Cushman & Wakefield provided local market leasing advisory.
LAS VEGAS — Brixton Capital has completed the sale of Rainbow Plaza, a dual grocery-anchored shopping center in Las Vegas. An undisclosed buyer acquired the asset for $63.7 million. Rob Ippolito of Newmark represented the seller in the deal. Located on the corner of Rainbow Avenue and Charleston Boulevard, Rainbow Plaza features 259,980 square feet of retail space. At the time of sale, the property was 94 percent occupied by credit, internet-resistant tenants, including Albertsons, Ross Dress for Less, The Home Depot, Sprouts Farmers Market, Goodwill, EOS Fitness and Chase Bank. The weighted average tenture of Rainbow Plaza tenants exceeds 15 years with more than 37 percent of the existing tenants having been at the center for more than 25 years.
CLEVELAND — Aurora Industrial LLC has acquired a 15-property industrial portfolio spanning approximately 2.9 million square feet in metro Cleveland for an undisclosed price. CBRE represented the seller, Premier Development Partners, which acquired or developed the portfolio over the past 15 years. A key property is 51 East Hines Hills Road in Boston Heights. The building serves as the global headquarters and largest distribution and warehousing hub for home furnishings retailer Arhaus Inc. BTG Pactual Strategic Capital, Morning Calm Management LLC and Grupo Patio launched Aurora Industrial, which targets acquisitions of Midwest industrial real estate. The company owns 25 properties totaling more than 4.5 million square feet.
HILLSBORO, ORE. — Trammell Crow Co. (TCC) has completed the sale of an industrial facility located at 3600 NE Huffman St. in Hillsboro. Principal Real Estate Investors acquired the 195,546-square-foot property for an undisclosed price. Hitachi High-Tech America (HTA) plans to occupy the asset, which is known as Hitachi Center of Excellence in Portland, and will utilize the building for semiconductor engineering. HTA plans to be fully operational at the new facility in 2023. The 18-acre site offers additional land that can accommodate an expansion of 100,000 square feet to 130,000 square feet. HTA is an affiliate company that operates within Hitachi Group Cos. to sell and service semiconductor manufacturing equipment, analytical instrumentation, scientific instruments and bio-related products, as well as industrial equipment, electronic devices, and electronic and industrial materials. Paige Morgan, Charles Safley, Tom Pehl, Lou Senini and Chais Lowell of CBRE represented TCC in the sale. Kristin Hammond and David Saad, also of CBRE, represented HTA in the lease negotiations. The project team included Mildren Design Group and Perlo Construction. David Etchart of CBRE Project Management led the tenant project management team, and Lauren Peng of CBRE Property Management acted as the property manager on behalf of the …
WESTMONT, ILL. — JLL Capital Markets has brokered the sale of Oakmont Point in the western Chicago suburb of Westmont for $21.7 million. The Class A office building spans 92,553 square feet and rises three stories. Completed in 2019, Oakmont Point is 91 percent leased to two tenants, JLL and Ryan Cos. US Inc. Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson and Bruce Miller of JLL represented the seller, Ryan Cos. Sidra Capital, which previously owned the property in a joint venture partnership with Ryan Cos., was the buyer. Lucas Borges, Claudio Sgobba and Christopher Carroll of JLL arranged a 10-year, fixed-rate acquisition loan through a multinational investment bank.
SRS Real Estate Partners Negotiates $10.9M Sale of Grocery Outlet-Anchored Retail Center in San Gabriel, California
by Amy Works
SAN GABRIEL, CALIF. — SRS Real Estate Partners has arranged the sale of a grocery-anchored retail center located at 7260 Rosemead Blvd. in San Gabriel. A West Coast-based owner and operator sold the property to a Hong Kong-based buyer for $10.9 million. Situated on 1.8 acres, the three-tenant center was built in 1960 and renovated in 2017 and 2018. Grocery Outlet, Bank of America and Wingstop occupy the 25,510-square-foot property. Matthew Mousavi and Patrick Luther of SRS’ Investment Properties Group represented the seller in the deal.
UPPER SADDLE RIVER, N.J. — New Jersey-based brokerage firm Wellington Real Estate has negotiated the sale of Sherbrooke Office Center, a 75,000-square-foot building in Upper Saddle River, located near the New York-New Jersey border. The four-story building is located at 600 E. Crescent Ave. Wellington represented the seller, Sherbrooke Holding Co. LLC, in the transaction. Additional terms of sale were not disclosed.