Acquisitions

Horvath & Tremblay Negotiates $7.2M Sale of Grocery-Anchored Retail Center in Wareham, Massachusetts

by Taylor Williams August 10, 2021

WAREHAM, MASS. — Horvath & Tremblay, a national brokerage firm based in metro Boston, has negotiated the $7.2 million sale of Wareham Marketplace, a 35,247-square-foot retail center located about 70 miles south of Boston. German discount grocer Aldi anchors the newly constructed property. Other tenants include Dollar Tree, AutoZone, Wendy’s and Mattress Firm. The pad sites occupied by the latter three tenants were not part of the sale and are being marketed separately. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer in the deal.

August 10, 2021

Acquisitions Development Industrial New Jersey Northeast

AMS Acquisitions Buys Multifamily Development Site in East Brunswick, New Jersey, for $5.1M

by Taylor Williams August 10, 2021

EAST BRUNSWICK, N.J. — New York-based investment firm AMS Acquisitions has purchased a seven-acre multifamily development site in East Brunswick, about 35 miles south of New York City, for $5.1 million. The company plans to construct a 96-unit complex that will consist of 24 affordable units and 72 market-rate units across four buildings. Amenities will include a clubhouse, fitness center, tenant lounge, dog run and a playground. A Cushman & Wakefield team led by Brian Whitmer, Ryan Dowd and Peter Welch represented the seller, a joint venture between the Hampshire Cos. and Diversified Realty Advisors, and procured AMS Acquisitions as the buyer.

August 10, 2021

Acquisitions Illinois Industrial Midwest

Boulder Group Brokers $8.9M Sale of Net-Leased Industrial Property in Metro Chicago

by Kristin Harlow August 10, 2021

NORTHBROOK, ILL. — The Boulder Group has brokered the $8.9 million sale of a single-tenant, net-leased industrial property in Northbrook, a northern suburb of Chicago. The 117,000-square-foot building is situated within the 1.8 million-square-foot Sky Harbor Industrial Park. Located at 3411 Woodhead Drive, the facility is fully leased to Atlas Fibre and recently underwent $2.1 million in improvements. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a local real estate owner. Buyer information was undisclosed.

August 10, 2021

Acquisitions Midwest Ohio Retail

Marcus & Millichap Arranges $8.5M Sale of Shopping Center in Huber Heights, Ohio

by Kristin Harlow August 10, 2021

HUBER HEIGHTS, OHIO — Marcus & Millichap has arranged the $8.5 million sale of North Heights Plaza in Huber Heights, just north of Dayton. The 113,732-square-foot shopping center was fully occupied at the time of sale. Anchor tenants include Hobby Lobby and Bed Bath & Beyond. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller marketed the property on behalf of the seller, a private out-of-state investor. The team procured the buyer, ExchangeRight, in collaboration with JRW Realty.

August 10, 2021

Acquisitions Colorado Healthcare Illinois Industrial Life Sciences Midwest Office Top Stories Western

NexCore, Nuveen Acquire National Medical Office and Life Sciences Portfolio for $620.4M

by John Nelson August 10, 2021

CHICAGO AND DENVER — NexCore Group, a national healthcare real estate developer and owner, has teamed up with global investment management firm Nuveen Real Estate to acquire a portfolio of 27 medical office and two life sciences buildings spanning nearly 1.2 million square feet. IRA Capital, a private equity firm based in Southern California, sold the portfolio in two transactions totaling $620.4 million. The portfolio spans 13 states: Arizona, California, Florida, Illinois, Michigan, North Carolina, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, Texas and Wisconsin. The medical office properties comprise ambulatory surgery centers, micro-hospitals, freestanding emergency departments and single- and multi-tenant clinics. The properties were 99 percent leased at the time of sale to 38 tenants, the vast majority of which are well-established healthcare systems. The medical office buildings sold for about $463 million, according to NexCore, which will manage the facilities moving forward. Allianz Real Estate provided $234 million in acquisition financing on behalf of NexCore and Nuveen for the medical office portfolio. The financing is structured on a seven-year term with both a fixed-rate tranche totaling $163.8 million and a floating-rate tranche totaling $70.2 million. Chicago-based Nuveen is using equity for the medical office assets via its newly launched U.S. Cities …

August 10, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 289,225 SF Industrial Portfolio in Dallas-Fort Worth Area

by Taylor Williams August 9, 2021

DALLAS — JLL has negotiated the sale of a portfolio of six shallow-bay industrial properties totaling 289,225 square feet that are located throughout various markets in the Dallas-Fort Worth (DFW) metroplex. Dallas is home to three of the buildings, and the markets of Fort Worth, Arlington and Grand Prairie house one building apiece. The portfolio spans a combined 21.5 acres, was 82 percent leased at the time of sale and features an average office finish of 18 percent. Dustin Volz, Stephen Bailey and Matthew Barge of JLL represented the seller, Dallas-based CanTex Capital, in the transaction. John Chun, Peter Thompson, Jarrod McCabe, Samuel Godfrey and Jordan Leake of JLL arranged a three-year, floating-rate acquisition loan through Bridge Investment Group on behalf of the borrower, The Bendetti Co., an investment firm based in Southern California.

August 9, 2021

Acquisitions Multifamily Texas

TMG Negotiates Sale of 178-Unit Apartment Complex in Killeen, Texas

by Taylor Williams August 9, 2021

KILLEEN, TEXAS — The Multifamily Group (TMG), a Dallas-based investment brokerage firm, has negotiated the sale of Century Oaks, a 178-unit apartment complex located in the Central Texas city of Killeen. The property was originally built in the late 1970s and features an average unit size of 695 square feet. According to Apartments.com, Century Oaks also offers one-, two- and three-bedroom units and amenities such as a picnic area, pet play area and onsite laundry facilities. Paul Yazbeck of TMG represented the seller, and Zach Weik of TMG and procured the buyer in the transaction.

August 9, 2021

East-Park-Apartments-Vineland-New-Jersey

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates Sales of Three Multifamily Properties Totaling 88 Units in New Jersey

by Taylor Williams August 9, 2021

WOODBRIDGE, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has negotiated the sales of three multifamily properties totaling 88 units in various parts of New Jersey. The three assets sold for a combined $9 million. The properties include the 41-unit East Park Apartments in Vineland, located in the southern part of the state; the 30-site Farrell Place Manufactured Home Community in the Philadelphia suburb of Cherry Hill; and a 17-unit complex in the Northern New Jersey community of East Orange. Joni Sweetwood of Kislak represented the sellers and procured the buyers in all three deals.

August 9, 2021

Acquisitions Illinois Industrial Midwest

Faropoint Acquires 757,017 SF Chicagoland Industrial Portfolio

by Kristin Harlow August 9, 2021

CHICAGO — Faropoint has acquire a 757,017-square-foot industrial portfolio throughout Chicagoland for an undisclosed price. The seven-building portfolio was fully leased to 10 tenants at the time of acquisition. The tenant base includes a diverse mix of industries such as technology, manufacturing, robotics and energy. The properties are located in Elk Grove Village, Glendale Heights, Carol Stream, Hanover Park, Bolingbrook and Elgin. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers International represented the undisclosed seller.

August 9, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of Luxury Apartment Community in Houston

by Madison Pettway August 9, 2021

HOUSTON — Marcus & Millichap has brokered the sale of Territory at Greenhouse, a 288-unit luxury apartment complex located in West Houston’s Energy Corridor. The price was undisclosed. Marcus & Millichap represented the seller, Mayde Creek Apartments LLC, and procured the buyer, Civitas Capital Management II LLC, in the transaction. Marcus & Millichap Capital Corp. arranged the acquisition financing. Dhanani Private Equity Group developed the 13-building, garden-style property in 2019. The one-, two- and three-bedroom units feature in-unit washers and dryers, private balconies and wood flooring. Amenities include an amphitheater and resort-style pool. Territory at Greenhouse is located within a five-minute drive time from I-10, Beltway 8, and Grand Parkway. Nearby national and regional employers include Wood Group, BP America, Shell Oil Co., ConocoPhillips, Gulf States Toyota PCL Industrial Construction Co., Citgo, Memorial Hermann Health System, Chase Bank and Houston Methodist Hospital.

August 9, 2021

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