Acquisitions

Stan Johnson Co. Brokers Sale of Industrial Property in Suburban St. Louis

by Kristin Harlow May 24, 2021

HAZELWOOD, MO. — Stan Johnson Co. has brokered the sale of an industrial property comprised of a 25,107-square-foot building and an adjacent parking lot in Hazelwood, a northern suburb of St. Louis. The sales price was undisclosed. Carvana Service Center occupies the building, which was renovated for the tenant in 2020. Amazon Fleet Parking leases the parking lot for its sprinter fleet vans and trucks. The property is located at 5651-5701 Phantom Drive. Jonathan Ameen of Stan Johnson represented the Missouri-based seller. A Georgia-based institutional investor was the buyer.

May 24, 2021

Acquisitions Georgia Industrial Southeast

Coldwell Banker Arranges Sale of 370,000 SF Warehouse in Manchester, Georgia

by Julia Sanders May 21, 2021

MANCHESTER, GA. — Coldwell Banker Commercial has arranged the sale of a 370,000-square-foot warehouse and distribution building located at 1000 W. Main St. in Manchester. The sales price was not disclosed. Ernie Smallman IV of Coldwell Banker Commercial Kennon, Parker, Duncan & Davis represented the buyer, FW Logistics, and the seller, Global Track Warehouse. Built in 1978, the single-story property is situated on 30 acres roughly 39 miles from Columbus, Ga., and 19 miles from Pine Mountain, Ga. The property has 21 exterior dock doors and 300 parking spaces located outside of the building. FW Logistics has selected Coldwell Banker Commercial as the exclusive leasing agent for the property. The firm intends to lease 300,000 square feet of the building to a tenant and utilize the remaining space for its own operations. The company also plans to do upgrades and renovations to the building.

May 21, 2021

Acquisitions Florida Industrial Leasing Activity Southeast

Stan Johnson Brokers $23M Sale of Amazon-Leased Distribution Facility in Clearwater, Florida

by Julia Sanders May 21, 2021

CLEARWATER, FLA. — Stan Johnson Co. has brokered the $23 million sale of a 106,000-square-foot distribution facility located at 13133 34th Street N. in Clearwater. Seattle-based Amazon anchors the industrial facility, which is adjacent to Macy’s operations center and Raymond James’ headquarters. Stan Johnson’s Craig Tomlinson, John Zimmerman and Rocco Driscoll represented the 1031 exchange buyer, a New Jersey-based syndicator, in the transaction. Bruce Vaughan of Vaughan Commercial represented the seller, a private local partnership group. Originally built in 1980, the distribution facility was fully renovated in 2019 and is situated on 8.8 acres. The property is located less than two miles from Interstate 275, St. Pete-Clearwater International Airport and Old Tampa Bay.

May 21, 2021

Acquisitions Kentucky Retail Southeast

Bay Country Estates Purchases Burger King-Leased Property in Shepherdsville, Kentucky for $1.6M

by Julia Sanders May 21, 2021

SHEPHERDSVILLE, KY. — Bay Country Estates has purchased a 34,484-square-foot retail property in Shepherdsville that is ground-leased to Burger King. An entity doing business as Dixie Hwy Development #3 LLC sold the property for $1.6 million. Carrols Corp. operates the Burger King location, which has 18.5 years remaining on its lease. The property is located at 315 Keystone Crossing Drive, about 20 miles south of Louisville. Jesse Limon of Marcus & Millichap’s Manhattan office represented the seller in the transaction. Jesse Limon and Colby Haugness of Marcus & Millichap’s Kentucky office represented the buyer.

May 21, 2021

Acquisitions Office Texas

Newmark Arranges Sale of 115,000 SF Office Complex in Houston’s Galleria District

by Taylor Williams May 21, 2021

HOUSTON — Newmark has arranged the sale of a two-building, 115,000-square-foot office complex located at 6250 and 6260 Westpark Drive in Houston’s Galleria District. Built in 1973 and renovated in 2016, the complex offers amenities such as covered parking, multiple conference rooms and a deli. Spencer Hough and Connor Darling of Newmark, along with Jim Autenreith and Stephen Ghedi of Moody Rambin, represented the seller, Texas-based developer Presidium Group, in the transaction. The buyer was an entity doing business as Westpark @ 59 Office Plaza LLC.

May 21, 2021

Acquisitions Multifamily Seniors Housing Texas

Chicago Pacific Founders Acquires Shores at Clear Lake Seniors Housing Community in Houston

by Taylor Williams May 21, 2021

HOUSTON — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Shores at Clear Lake, a 100-unit seniors housing community in Houston. Grace Management will take over the operations of the property, which is located on seven acres near Clear Lake and the NASA Johnson Space Center. The community offers assisted living and memory care services. The price and seller were not disclosed.

May 21, 2021

Acquisitions Industrial Texas

Colliers Negotiates Sale of 64,846 SF Industrial Building in West Houston

by Taylor Williams May 21, 2021

HOUSTON — Colliers International has negotiated the sale of a 64,846-square-foot industrial building located at 1314 Sam Houston Parkway in West Houston. Critical Rental Solutions occupies the single-tenant building, which was recently renovated and now features an upgraded roof, higher clear heights, heavier crane capacity and elevated power. Todd Moore of Colliers represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

May 21, 2021

Acquisitions California Office Western

SteelWave Acquires The Switchyard Creative Office Campus in Los Angeles for $80M

by Amy Works May 21, 2021

LOS ANGELES — San Francisco-based SteelWave has purchased The Switchyard, a Class A creative office campus in the Arts District of Los Angeles. Los Angeles-based CEG Construction sold the property for $80 million. The Switchyard consists of two low-rise office buildings, offering a total of 150,451 square feet, located at 500 and 540 S. Santa Fe Ave. Constructed in 2019, the 500 property consists of a newly constructed five-story creative office building totaling 100,000 square feet and offering ground-floor retail space and a penthouse with an open deck. The 540 property consists of a two-story, 50,888-square-foot building, which was built in 2012. Both buildings feature secured parking and gated and secured entry. SteelWave plans to implement a capital improvements program at the campus, including updating the buildings’ exteriors and improving on-site amenities. Mike Condon Jr., Steve Marcussen, Erica Finck and Bailey Dawson of Cushman & Wakefield represented the buyer and seller in the deal. Cushman & Wakfield’s Peter Collins, Brittany Winn, Scott Menkus and Alexa Delahooke provided market leasing advisory, while Rob Rubano, Brian Share, Joseph Lieske, Ernesto Sanchez, Keith Padien and Greg Napper of Cushman & Wakefield assisted the buyer with financing.

May 21, 2021

Acquisitions California Retail Western

Regency Centers Sells 92,110 SF Gateway 101 Retail Center in East Palo Alto, California

by Amy Works May 21, 2021

EAST PALO ALTO, CALIF. — Regency Centers has completed the sale of Gateway 101, a shopping center located at 1771 E. Bayshore Road in East Palo Alto. A private foreign investor acquired the property for $53.2 million. Built in 2000 and renovated in 2017, Gateway 101 features 92,110 square feet of retail space. At the time of sale, the property was fully occupied by Target and Nordstrom Rack. The asset is a part of a larger 430,000-square-foot retail property. Bryan Ley, Eric Kathrein and Tony Ensbury of JLL Capital Markets represented the seller in the deal.

May 21, 2021

Acquisitions Industrial New York Northeast

CenterPoint Properties Acquires 145,144 SF Industrial Building in The Bronx

by Taylor Williams May 21, 2021

NEW YORK CITY — Illinois-based CenterPoint Properties has acquired a 145,144-square-foot industrial building in The Bronx. The warehouse sits on 4.8 acres and features 18 dock-high doors and 1.5 acres for parking. In addition, the facility is located near Hunts Point Food Distribution Center, the largest food distribution hub of its kind in the world, according to CenterPoint. The seller and sales price were not disclosed.

May 21, 2021

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