Acquisitions

Davis Cos. Buys 156,276 SF Industrial Flex Portfolio in Metro Boston for $44.2M

by Taylor Williams April 14, 2021

WILMINGTON AND METHUEN, MASS. — Locally based investment firm The Davis Cos. has purchased a portfolio of four industrial flex properties totaling 156,276 square feet in Wilmington and Methuen, two northern suburbs of Boston, for $44.2 million. The sale also included a fully entitled development site that can support up to 235,000 square feet of new product. Kerry Hawkins of JLL represented the seller, PGA Realty Co., a family-owned investment firm based in Massachusetts. The portfolio was 100 percent leased at the time of sale.

April 14, 2021

Acquisitions Illinois Midwest Multifamily

Interra Negotiates $5.7M Sale of Apartment Building in Chicago’s Lakeview Neighborhood

by Kristin Harlow April 14, 2021

CHICAGO — Interra Realty has negotiated the sale of a 16-unit apartment building in Chicago’s Lakeview neighborhood for $5.7 million. Originally constructed in 1916, the property is located at 700 W. Grace St. Units range in size from 850 to 1,500 square feet. The property was fully occupied at the time of sale. Joe Smazal of Interra represented both the East Coast-based seller and the private local buyer.

April 14, 2021

Acquisitions Midwest Ohio Retail

Marcus & Millichap Arranges $3.4M Sale of Kroger-Occupied Property in Ohio

by Kristin Harlow April 14, 2021

MOUNT GILEAD, OHIO — Marcus & Millichap has arranged the $3.4 million sale of a 51,443-square-foot property occupied by Kroger in Mount Gilead, about 40 miles northeast of Columbus. The asset is located at 555 W. Marion St. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the buyer, a publicly traded REIT. Seller information was undisclosed.

April 14, 2021

Acquisitions Michigan Midwest Office

Gerdom Negotiates Sale of 10,772 SF Office Asset in Howell, Michigan

by Kristin Harlow April 14, 2021

HOWELL, MICH. — Gerdom Realty & Investment has negotiated the sale of Bankers Square in Howell, about 55 miles northwest of Detroit, for an undisclosed price. The 10,772-square-foot office building is situated on the northeast corner of Michigan Avenue and Clinton Street. Howell Orthodontics and KNE Realty will occupy a portion of the property. Additional space remains available for lease. Bill McLeod of Gerdom represented the undisclosed buyer.

April 14, 2021

Acquisitions Healthcare Midwest Ohio

Quantum Brokers $1.4M Sale of Medical Office Building in Columbus, Ohio

by Kristin Harlow April 14, 2021

COLUMBUS, OHIO — Quantum Real Estate Advisors Inc. has brokered the sale of a single-tenant medical office building in Columbus for $1.4 million. Located at 4660 Roberts Road, the property is fully occupied by BrightView Health, a behavioral clinic specializing in the treatment of opioid addiction. Chad Firsel and Jason Lenhoff of Quantum represented the seller, a local real estate investment and development company. A Florida-based private investor was the buyer.

April 14, 2021

Acquisitions Florida Mixed-Use Multifamily Restaurant Retail Southeast

Abbhi Capital Purchases One-Acre Development Parcel at Miami Worldcenter for $20M

by Julia Sanders April 13, 2021

MIAMI — Abbhi Capital, a Coral Gables, Fla.-based investment firm, has purchased a one-acre parcel within Miami Worldcenter for $20 million. The seller was Miami Worldcenter Associates, the developer behind Miami Worldcenter doing business as MWC Block A LLC. The $4 billion, 27-acre mixed-use development is now underway in downtown Miami across 10 city blocks. Robert Given, Troy Ballard and James Quinn of Cushman & Wakefield represented the seller in the land transaction. The assemblage includes 45,000 square feet of developable space. The property, known as the west parcel of Miami Worldcenter’s “Block A,” is located between Northeast 10th and 11th streets along Northeast 1st Avenue. The parcel is zoned for a mixed-use project, with a base development capacity of nearly 850 residential units and 1.2 million square feet. The sale marks the second parcel of Miami Worldcenter land purchased by Abbhi Capital within the last year. In August 2020, the firm bought the neighboring center parcel of Block A for $24 million. Miami Worldcenter will total 300,000 square feet of retail, restaurant and entertainment space. Other uses include two completed residential buildings, the 60-story Paramount Miami Worldcenter condominium and the 43-story Caoba luxury apartment tower. Approximately 150,000 square feet …

April 13, 2021

Acquisitions Retail Southeast Virginia

Stan Johnson Brokers $11.1M Sale of Burlington-Anchored Shopping Center in Metro Richmond

by Julia Sanders April 13, 2021

CHESTERFIELD, VA. — Stan Johnson Co. has brokered the sale of Hancock Village Phase II, a 61,500-square-foot shopping center located at 14601 Hancock Village St. in Chesterfield. The multi-tenant retail center, anchored by Burlington, was fully leased at the time of sale. The buyers were private investors based in Lexington, Ky., that were represented by Jason Taylor of Equity Management Group Inc. The buyers purchased the property for $11.1 million to complete a 1031 exchange. Margaret Caldwell and Patrick Kelley of Stan Johnson Co. represented the seller, a Virginia-based developer. The Hancock Village Phase II is part of a community center located 20 miles from downtown Richmond. The property was constructed in 2018 and is situated on 4.9 acres. Additional tenants include Tuesday Morning, America’s Best Contacts & Eyeglasses and Grand Nail Spa. The property is shadow-anchored by Walmart Supercenter, Hobby Lobby, Dick’s Sporting Goods and Five Below.

April 13, 2021

Acquisitions Florida Loans Multifamily Single-Family Rental Southeast

Pintar Investment Secures $9.3M Refinancing for Single-Family Rental Community in Winter Haven, Florida

by Julia Sanders April 13, 2021

WINTER HAVEN, FLA. — Pintar Investment Co. has secured $9.3 million in refinancing for Lake Lucerne, a 56-unit single-family rental home community in Winter Haven. LendingHome, a San Francisco-based lender for residential investors, provided Pintar with the loan. Pintar chose LendingHome in 2019 to supply a $6.3 million acquisition loan, and Pintar selected LendingHome again to refinance the bridge loan. Built in 2019, Lake Lucerne’s homes feature four-bedroom floor plans averaging 1,678 square feet. Each home features a dedicated two-car garage and a lot size that averages 6,500 square feet.

April 13, 2021

Acquisitions Affordable Housing Development District of Columbia Multifamily Southeast

Feldman Ruel Arranges $4.2M Sale of Land in D.C., Buyers Plan Mixed-Use Affordable Housing Project

by Julia Sanders April 13, 2021

WASHINGTON, D.C. — Feldman Ruel Urban Property Advisors has arranged the $4.2 million sale of 4618 14th Street NW, a 25,153-square-foot development site located directly across the street from WMATA’s planned redevelopment of the Northern Bus Garage in Washington, D.C. Heleos, a Washington, D.C.-based affordable housing developer, bought the site in partnership with a local performing arts nonprofit. Josh Feldman and Ian Ruel of Feldman Ruel marketed the property on behalf of the seller, Raymar Corp., which had controlled the property since 1964. The sale represents the final parcel in Raymar’s portfolio. The new ownership plans to construct 99 multifamily units at the site, with 66 of those units set aside for residents making up to 60 percent of the area median income (AMI) and approximately 20 three-bedroom units designed for families. The new owners also plan to include solar panels in an effort to make the project a net-zero energy building. The site currently includes a commercial property leased to a local furniture store on the first level and a dance studio on part of the second level. The project will be branded as Dance Loft at 14th and will include up to 16,000 square feet of ground-floor retail …

April 13, 2021

Acquisitions Multifamily Texas

The Multifamily Group Arranges Sale of 100-Unit Apartment Complex in San Antonio

by Taylor Williams April 13, 2021

SAN ANTONIO — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Glennwood Apartments, a 100-unit complex situated on a 6.3-acre site on the north side of San Antonio. According to Apartments.com, the property was built in 1970 and offers one-, two- and three-bedroom units. Chris Siemasko and Bryce Smith of TMG represented the seller and buyer, both of which requested anonymity, in the transaction. The 12-building complex was fully occupied at the time of sale.

April 13, 2021

Newer Posts

Older Posts