Acquisitions

Standard, TCC Sell 217,000 SF Industrial Facility in Woodridge, Illinois

by Kristin Harlow November 26, 2024

WOODRIDGE, ILL. — Standard Real Estate Investments LP and Trammell Crow Co. (TCC) have sold Woodridge Industrial Center in the Chicago suburb of Woodridge for an undisclosed price. Standard made an equity investment through its $150 million investment vehicle last year, and construction was completed in July of this year. The transaction marks the first sale in the investment vehicle. Located at 8110 Lemont Road, Woodridge Industrial Center totals 217,000 square feet on 17 acres. The development is situated two miles north of the I-55/I-355 interchange and features 22 dock doors with 130-foot truck courts and 270 parking spaces. The project team included Harris Architects, general contractor FCL and civil engineer SpaceCo.

November 26, 2024

Acquisitions Healthcare Indiana Midwest

SPHERE Investments Acquires 66,143 SF PAM Health Rehabilitation Hospital of Greater Indiana

by Kristin Harlow November 26, 2024

NEW ALBANY, IND. — SPHERE Investments has acquired the PAM Health Rehabilitation Hospital of Greater Indiana — South Campus, a 66,143-square-foot inpatient rehabilitation facility in New Albany, just north of Louisville. The purchase price was undisclosed. Previously operating under Southern Indiana Rehabilitation Hospital, the asset sits on nearly seven acres at 3104 Blackiston Blvd. and features 40 inpatient beds. Under PAM Health’s management, the hospital will offer comprehensive recovery services for patients with serious injuries, surgeries and chronic conditions as well as interdisciplinary care such as physical, occupational and speech therapy. The seller had purchased the property in 2018 for $23.4 million. SPHERE stands for Strategic Public Health Equities and Real Estate. The company is based in Miami with a European presence. The acquisition marks SPHERE’s first investment in Indiana.

November 26, 2024

Acquisitions Georgia Industrial Southeast

JLL Arranges $100.6M Sale of New Bulk Industrial Building in Savannah

by John Nelson November 25, 2024

SAVANNAH, GA. — JLL has arranged the $100.6 million sale of Rockingham Farms Building 9, a 942,210-square-foot industrial facility located at 125 Feldspar Drive in Savannah. The seller, Scannell Properties, developed the bulk industrial building in 2023 within Rockingham Farms Logistics Park, a 5.8 million-square-foot industrial development approximately nine miles from Port of Savannah’s Garden City terminal. Goldman Sachs Alternatives purchased the facility, which was fully leased at the time of sale to four tenants. Britton Burdette, Matt Wirth, Dennis Mitchell and Jim Freeman of JLL represented the seller in the transaction. The cross-dock building features 40-foot clear heights, 185-foot truck court, 183 dock-high doors, 7,500 square feet of offices and ample automobile and trailer parking.

November 25, 2024

Acquisitions Retail Texas

Weitzman Brokers Sale of 17,657 SF Bowling Alley in Denton, Texas

by Taylor Williams November 25, 2024

DENTON, TEXAS — Weitzman has brokered the sale of University Lanes, a 17,657-square-foot bowling alley and entertainment venue in the North Texas city of Denton. The venue is located near Texas Woman’s University and includes a snack and alcoholic beverages bar. Kevin Butkus and Guillermo Lopez of Weitzman brokered the deal. The names of the seller and locally based buyer were not disclosed.

November 25, 2024

Acquisitions Industrial North Carolina Southeast

Avison Young Brokers Sale of 402,390 SF Distribution Center in Metro Charlotte Leased to Amazon

by John Nelson November 25, 2024

CONCORD, N.C. — Avison Young has brokered the sale of a 402,390-square-foot distribution center located at 7040 Northwinds Drive NW in Concord, a suburb of Charlotte along I-85. E-commerce giant Amazon fully occupies the facility for use as a fulfillment center. Texas-based Stonelake Capital Partners purchased the property from SL Industrial Partners, a member of the Silverman Group family of companies. Chris Skibinski, Henry Lobb and Abby Rights of Avison Young brokered the transaction. The sales price was not disclosed, but the Charlotte Business Journal reports the property traded for approximately $51 million. Will Jenkins, Marc Hedrick and Jack Harvey led Stonelake Capital’s team in the transaction on an internal basis.

November 25, 2024

Acquisitions Retail Washington Western

Lightstone Group Acquires Outlet Collection Seattle Shopping Mall for $82M

by Amy Works November 25, 2024

AUBURN, WASH.— The Lightstone Group has acquired The Outlet Collection Seattle, an enclosed mall located in Auburn, roughly 30 miles south of Seattle. WPG sold the asset for $82 million. Located at 1101 Outlet Collection Way, the property offers 919,446 square feet of retail space. Tenants include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta Beauty, Coach, Nike, Adidas and Michael Kors. The mall was 98 percent occupied at the time of acquisition. Lightstone plans to implement $10 million of capital improvements and tenancy upgrades. Nicholas King, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors will manage outlet leasing at the property on behalf of the buyer, and Spinoso Real Estate Group will handle big box and mall tenant leasing. Dino Christophilis, Richard Frolik, George Good and Daniel Tibeau of CBRE’s National Retail Partners represented the seller in the deal.

November 25, 2024

Acquisitions California Retail Western

Faris Lee Negotiates $22.8M Sale of Santa Margarita Marketplace in Rancho Santa Margarita, California

by Amy Works November 25, 2024

RANCHO SANTA MARGARITA, CALIF. — Faris Lee Investments has arranged the all-cash sale of Santa Margarita Marketplace, a retail center in Rancho Santa Margarita. K&G Marketplace sold the asset to Curbline Properties, a publicly traded REIT, for $22.8 million. Starbucks Coffee, Luna Grill and Philly’s Best occupy the three-tenant, 29,418-square-foot pad building. Scott DeYoung, Chris DePierro, Jeff Conover and Greg Lukosky of Faris Lee represented the seller in the transaction.

November 25, 2024

Acquisitions Arizona Industrial Western

SKB, Arc Capital Partners Buy Two Industrial Buildings in Gilbert, Arizona for $19M

by Amy Works November 25, 2024

GILBERT, ARIZ. — A joint venture between Portland, Ore.-based SKB and Los Angeles-based Arc Capital Partners has acquired two manufacturing buildings in Gilbert from Walnut Creek, Calif.-based Nearon for $19 million. Located at 1250 and 1300 N. Fiesta Blvd., the freestanding buildings are fully leased to three tenants. Situated on 3.2 acres, 1250 North N. Blvd. offers 45,072 square feet of single-tenant space, which is fully leased to Kaiser Garage Doors & Gates. Fiesta Tech Center, located at 1300 N. Fiesta Blvd., consists of one freestanding building totaling 148,921 square feet on 12.4 acres. The multi-tenant property is primarily leased to MKB Construction and Symage. Both properties offer ample power, excess yard space and convenient access to Loop 101, US-60 and Loop 202. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group represented the buyer and seller in the deal.

November 25, 2024

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Negotiates Sale of 118,041 SF Industrial Building in Batavia, Illinois

by Kristin Harlow November 25, 2024

BATAVIA, ILL. — Lee & Associates has negotiated the sale of a 118,041-square-foot industrial building in the Chicago suburb of Batavia for an undisclosed price. The property is located at 1020 Olympic Drive. Michael Androwich Jr. of Lee & Associates represented the buyer, Blue Peak Tents, which is currently located in Batavia and is expanding its operations. Blue Peak Tents will consolidate three locations into the new facility. Nick Eboli and Andrew Block of Lee & Associates represented the private seller, which closed its screen printing operation that was housed in the building.

November 25, 2024

Acquisitions Illinois Midwest Multifamily

Essex Realty Group Arranges $4.3M Sale of Apartment Building in Chicago’s Buena Park

by Kristin Harlow November 25, 2024

CHICAGO — Essex Realty Group has arranged the $4.3 million sale of a 23-unit, value-add apartment building in Chicago’s Buena Park neighborhood. The property at 821 W. Montrose Ave. is one of the last untouched vintage buildings in the neighborhood, according to Essex. The asset features one-, two- and three-bedroom layouts along with a shared green space and six surface parking spaces. Brian Karmowski of Essex represented the seller, while Matt Feo and Abe Eilian of Essex represented the buyer. The property sold above the listing price.

November 25, 2024

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