Acquisitions

SLI Capital, Regent Acquire 15 Parcels in Raleigh for Phase II of East End Market

by Julia Sanders July 9, 2021

RALEIGH, N.C. — A joint venture between SLI Capital and Regent Partners has acquired 15 parcels totaling approximately 10 acres in Raleigh for the second phase of the East End Market mixed-use development. Seven undisclosed entities sold the 15 parcels to the joint venture for a total of approximately $18 million. Located on Whitaker Mill Road between Wake Forest Road and Atlantic Avenue, East End Market is a mixed-use, food and beverage destination that will offer a collection of restaurants, apartments, shops and office spaces. Phase I of East End Market began in March and is expected to be completed by the end of the year with the first tenants expected to move in shortly thereafter. The tenant lineup includes East End Bistro, a French chop house by acclaimed restaurateur Giorgios Bakatsias; Shady Grove Cider Co., Raleigh’s first cidery; Common Desk, a Texas-based coworking brand; and local businesses Campion Capital and Piedmont Capital. Phase II will include new construction featuring 235,000 square feet of office space, 40,000 square feet of retail and food and beverage and 465 apartments. The project is fully capitalized via a joint venture with Koch Real Estate Investments. Construction will commence without any preleasing, according to …

July 9, 2021

Acquisitions Healthcare Indiana Midwest

Fairfield Advisors Arranges $88M Sale of Medical Office Building in Newburgh, Indiana

by Kristin Harlow July 9, 2021

NEWBURGH, IND. — Fairfield Advisors has arranged the $88 million sale of St. Vincent’s Orthopedic Hospital and Medical Office Building in southern Indiana’s Newburgh. Completed in 2019, the 136,000-square-foot building contains 10 operating rooms, 48 beds and a number of medical office suites. The facility is located at 10388 Warrick Trail. The tenant, St. Vincent’s Hospital, is part of the Ascension Health Network. Greg Trainor and Ben Whitney of Fairfield represented the seller, a physician group that developed the property. The buyer was undisclosed.

July 9, 2021

Acquisitions Industrial Midwest Nebraska

Investors Realty Brokers $11.4M Sale of Industrial Campus in Omaha

by Kristin Harlow July 9, 2021

OMAHA, NEB. — Investors Realty has brokered the sale of the Hi-Park Campus in Omaha for $11.4 million. The asset consists of eight flex industrial buildings that were fully leased at the time of sale. Located on the southeast corner of 94th and F streets, the campus spans 150,000 square feet. Ember Grummons of Investors Realty represented the buyer, Fulton Acquisitions. Clint Seemann of Investors Realty and John Dickerson of OMNE represented the seller, Hannibal Properties.

July 9, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 582,803 SF Industrial Portfolio in Arlington

by Taylor Williams July 9, 2021

ARLINGTON, TEXAS — JLL has negotiated the sale of a 12-building, 582,803-square-foot industrial portfolio in Arlington. The portfolio includes 109th Street Business Park (414,724 square feet), 2821 East Randol Mill (40,000 square feet), 1170-1180 109th Street (93,079 square feet) and 3016-3030 Avenue East (35,000 square feet). The infill buildings were collectively 77 percent leased at the time of sale. Stephen Bailey, Dustin Volz, Dom Espinosa, Wesley Gilmer and Pauli Kerr of JLL represented the seller, Fort Worth-based investment firm Fort Capital, in the transaction. The buyer was Arden Group, a national investment management firm.

July 9, 2021

Acquisitions Office Retail Texas

CTO Realty Growth Buys Shops at Legacy North Retail Center for $72.5M

by Taylor Williams July 9, 2021

PLANO, TEXAS — Florida-based investment firm CTO Realty Growth Inc. (NYSE: CTO) has purchased The Shops at Legacy North, an approximately 236,000-square-foot office and retail center in Plano, for $72.5 million. The property was built on 12.7 acres in 2007 and was 83 percent leased across its office and retail components at the time of sale. The retail portion of the property consists of 121,496 square feet and houses tenants such as Capital Grille, Seasons 52, Mexican Sugar, Benihana and Ra Sushi. The office component spans 114,936 square feet and is home to users such as Unum, Technologent, Timmons Group, BRP and Shift Digital.

July 9, 2021

Acquisitions Multifamily Texas

One Real Estate Acquires 222-Unit Lotus Village Apartments in North Austin

by Taylor Williams July 9, 2021

AUSTIN, TEXAS — An affiliate of Miami-based One Real Estate Investment has acquired Lotus Village, a 222-unit apartment community in North Austin. Built in 2012, the property offers one-, two- and three-bedroom units with hardwood floors, individual washers and dryers and private balconies/patios. Communal amenities include a fitness center, clubhouse, business center, picnic area and a pet play area. Brad Williamson of Berkadia arranged acquisition financing through LoanCore on behalf of the buyer. The seller was undisclosed.

July 9, 2021

Acquisitions California Multifamily Western

Harbor International Group Buys Olive Ridge Resort Apartments in Pomona, California for $46.8M

by Amy Works July 9, 2021

POMONA, CALIF. — Harbor International Group (HGI) has purchased The Olive Ridge Resort, a multifamily property in Pomona, for $46.8 million. Located at 2261 Valley Blvd., the 11-building community features 220 apartments in a mix of studio, one- and two-bedroom units. Community amenities include a fitness center; tennis and volleyball court; swimming pool and spa; business center; barbecue grilling stations; a junior soccer field; and on-site laundry facilities. Shane Shafer and Quinn Breslin of NorthMarq’s Newport Beach office handled the transaction.

July 9, 2021

Acquisitions California Retail Western

Retail Equities Sells 352,666 SF East Hills Mall in Bakersfield, California for $7.2M

by Amy Works July 9, 2021

BAKERSFIELD, CALIF. — Modesto-based Retail Equities has completed the disposition of East Hills Malls, a vacant shopping center situated on 38 acres in Bakersfield. A partnership between Steve Zimmerman of ZDI and Michael Heslov of Soboroff Partners acquired the asset for $7.2 million. Located at 2800-3200 Mall View Road, the 352,666-square-foot property was initially developed by the Hahn Co. in 1988. The property was formerly called City Lights at East Hills. Orbell Ovaness, Ara Rostamian and Aren Ohanian of Marcus & Millichap’s Los Angeles office represented the seller in the deal. Vincent Roche of Cushman & Wakefield/Pacific consulted on the transaction.

July 9, 2021

Acquisitions Colorado Office Western

Quiver Investments Negotiates $6.5M Sale of Synergy Corporate Center in Colorado Springs

by Amy Works July 9, 2021

COLORADO SPRINGS, COLO. — Denver-based Quiver Investments has arranged the sale of Synergy Corporate Center, an office building located in Colorado Springs. Great Western Foloh sold the asset to a Colorado-based investor group for $6.5 million, or $148 per rentable square foot. Located at 5225 N. Academy Blvd., the property features 44,256 rentable square feet. At the time of sale, the building was 90 percent occupied. John Witt and Ben Swanson of Quiver Investments represented the seller, while Riki Hashimoto of Newmark represented the buyer in the deal.

July 9, 2021

Acquisitions California Healthcare Office Retail Western

Matthews Arranges $5.4M Sale of Medical Office, Retail Building Near Los Angeles

by Amy Works July 9, 2021

SANTA FE SPRINGS, CALIF. — Matthews Real Estate Investment Services has brokered the sale of a medical office and retail building located at 13063 Rosecrans Ave. in Santa Fe Springs, a suburb of Los Angeles. The property traded hands for $5.4 million. The names of the seller and buyer were not released. Fresenius Medical Care and TNV International, a wholesale distributor of bulk ingredients for the nutritional supplement industry, occupy the property. Jake Linksy and Simon Assaf of Matthews brokered the transaction.

July 9, 2021

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