Acquisitions

Avison Young Arranges $6.9M Acquisition of Industrial Property in West Sacramento

by Amy Works July 12, 2021

WEST SACRAMENTO, CALIF. — Avison Young has arranged the purchase of an industrial building located at 879 F St. in West Sacramento. The Bendetti Co. acquired the property from INNOVA Fund I LLC for $6.9 million. Built in 2001 on two acres, the property features 55,000 square feet of industrial space with fully insulated warehouses and concrete tilt-up construction. Alan Pekarcik and Chris Smith of Avison Young’s Irvine office represented the buyer, while Kevin Jasper of Newmark represented the seller in the deal.

July 12, 2021

Acquisitions Arizona Net Lease Restaurant Retail Western

Capstone Advisors Sells Salad and Go-Occupied Restaurant Building in Phoenix for $3.7M

by Amy Works July 12, 2021

PHOENIX — Carlsbad, Calif.-based Capstone Advisors has completed the disposition of a single-tenant building located with Ahwatukee Foothills Towne Center in Phoenix. A Nevada-based investor acquired the asset for $3.7 million. Salad and Go occupies the property under an absolute triple-net, 20-year ground lease. The restaurant opened for business at the newly constructed building in mid-June. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented Capstone in the deal.

July 12, 2021

Acquisitions Northeast Pennsylvania Retail Top Stories

JLL Negotiates $114.2M Sale of Grocery-Anchored Retail Portfolio in Metro Philadelphia

by Taylor Williams July 12, 2021

PHILADELPHIA — JLL has negotiated the $114.2 million sale of a portfolio of five grocery-anchored retail centers in the Philadelphia area. The properties include Lionville Shopping Center in Lionville, located west of the city; Marketplace at Westtown in West Chester, another western suburb; Spring Towne Center in Sinking Spring on Philadelphia’s northwestern outskirts; Dreshertown Plaza in Dresher, located just inside the northern ring of Interstate 276; and Limerick Crossing in Limerick, another northwestern suburb. The grocery anchor for Lionville Shopping Center, Marketplace at Westtown and Spring Towne Center is Giant Food Stores, while Lowe’s Home Improvement is a second anchor at Spring Towne Center. George’s Marketplace is the anchor grocer at Dreshertown Plaza, and German discount grocer Aldi anchors Limerick Crossing. Chris Munley, Jim Galbally, Colin Behr and James Graf of JLL marketed the portfolio for sale on behalf of the seller, locally based development and investment firm Brandolini Cos. Jon Mikula, Jim Cadranell, Michael Pagniucci and Carlos Silva of JLL arranged five fixed-rate acquisition loans totaling $80.5 million on behalf of the buyer, a partnership between New Jersey-based Paramount Realty Services and international investment firm Medipower Group. A trio of undisclosed banks provided the financing. “We continue to see …

July 12, 2021

Acquisitions Industrial North Carolina Southeast

JLL Brokers Sale of 520,431 SF Industrial Facility in Raleigh

by Julia Sanders July 9, 2021

RALEIGH, N.C. — JLL Capital Markets has brokered the sale of 2728 Capital Blvd., a 520,431-square-foot, last-mile industrial facility in Raleigh. Patrick Nally, Pete Pittroff, Dave Andrews and Michael Scarnato of JLL represented the seller, SharpVue Capital. Charlotte-based Beacon Partners purchased the facility for an undisclosed price. The property is situated on 32 acres and is located about 4.6 miles from downtown Raleigh.

July 9, 2021

Acquisitions Industrial North Carolina Southeast

Cushman & Wakefield Arranges $71M Sale of Industrial Portfolio in Charlotte, Durham

by Julia Sanders July 9, 2021

CHARLOTTE AND DURHAM, N.C. — Cushman & Wakefield has arranged the sale of a four-property industrial portfolio located in Charlotte and Durham. Rob Cochran, Stewart Calhoun, Casey Masters, Nolan Ashton, David Finger, Sara Owen, Fermin Deoca and Eric Ridlehoover of Cushman & Wakefield represented the seller, funds managed by Rialto Capital Management LLC, in the transaction. DRA Advisors, on behalf of a separate account client, acquired the properties for $71 million. The portfolio totals 869,916 square feet and was 88 percent leased to five tenants at the time of sale. The buildings include a 406,001-square-foot building located at 1001 Bond St. in Charlotte, a 187,000-square-foot building located at 4001 Performance Road in Charlotte, a 107,968-square-foot building located at 2710 Weck Drive in Durham and a 168,847-square-foot building located at 2910 Weck Drive in Durham.

July 9, 2021

Acquisitions Development Mixed-Use Multifamily North Carolina Office Restaurant Retail Southeast

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

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