Acquisitions

Triten Real Estate Partners Buys 300,000 SF Market Square Mall in Plano

by Taylor Williams January 26, 2021

PLANO, TEXAS — Triten Real Estate Partners, which has offices in Houston and Dallas, has purchased Market Square Mall, a 300,000-square-foot shopping and dining destination that is situated on 26 acres in Plano. Daniel Eng and Calvin Wong of ENGVEST represented the seller, private investor Matthew Loh, in the transaction. Dan Zeltser of SHOP Cos. represented the buyer. The new ownership will redevelop the mall, which was built in the 1980s, into a mixed-use destination. Specific details of the redevelopment plan were not disclosed.

January 26, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Negotiates Sale of Two Adjacent Apartment Complexes in Fort Worth

by Taylor Williams January 26, 2021

FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of The Falls and Oak Village, two adjacent apartment complexes that are situated on a combined 22 acres in Fort Worth. The Falls was built in 1976 and totals 256 units, while Oak Village was constructed in 1980 and comprises 152 units. Amenities include two pools, soccer fields, playgrounds, dog parks, grilling areas, and onsite laundry facilities. Al Silva of Marcus & Millichap represented the seller, Florida-based GreenWater Investments, and procured the buyer, an out-of-state investment group.

January 26, 2021

Acquisitions Multifamily Texas

EB Real Estate Acquires 270-Unit Plum Meadow Apartments in South Dallas

by Taylor Williams January 26, 2021

DALLAS — New York-based EB Real Estate Group has acquired Plum Meadow, a 270-unit apartment community in South Dallas. The property features one- and two-bedroom units and amenities such as a pool, courtyard and onsite laundry facilities. Thomas Burns, Jay Gunn and William Jarnagin of Berkadia represented the seller, an affiliate of New York-based Iliad Realty Group, in the deal. Josh Finley of Berkadia originated an undisclosed amount of Freddie Mac acquisition financing on behalf of EB Real Estate Group.

January 26, 2021

Acquisitions Office Texas

Younger Partners Brokers Sale of 251,332 SF Creekview Corporate Center in Metro Dallas

by Taylor Williams January 26, 2021

RICHARDSON, TEXAS — Younger Partners has brokered the sale of Creekview Corporate Center, a two-building, 251,332-square-foot office complex located in the northeastern Dallas metro of Richardson. Scot Farber and Tom Strohbehn of Younger Partners represented the buyer, Pennsylvania-based Exeter Property Group, in the transaction. The seller was locally based owner Beltway Commercial Real Estate.

January 26, 2021

Kuser-Industrial-Center-Hamilton-New-Jersey

Acquisitions Industrial New Jersey Northeast

CBRE Negotiates Sale of 145,950 SF Kuser Industrial Center in Hamilton, New Jersey

by Taylor Williams January 26, 2021

HAMILTON, N.J. — CBRE has negotiated the sale of Kuser Industrial Center, a 145,950-square-foot industrial property located just outside of Trenton in Hamilton, for $29.6 million. The property is under construction and is expected to be complete in February. Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, Scannell Properties, in the transaction. The buyer was Cohen Asset Management. CBRE will also handling leasing of the property.

January 26, 2021

Acquisitions Northeast Office Pennsylvania

Keystone Property Group Sells 132,986 SF Office Building in Metro Philadelphia

by Taylor Williams January 26, 2021

BALA CYNWYD, PA. — Locally based investment firm Keystone Property Group has sold a 132,986-square-foot office building located at 150 Monument Road in Bala Cynwyd, a northeastern suburb of Philadelphia. The six-story building is situated on 6.5 acres and recently underwent a full renovation. Brett Segal and Doug Rodio of JLL represented Keystone Property Group in the transaction. The buyer, FLD Group, purchased the asset for an undisclosed price.

January 26, 2021

Acquisitions Civic Connecticut Multifamily Northeast

Goman + York Brokers Sale of 57,000 SF Former William Seely School in East Hartford

by Taylor Williams January 26, 2021

EAST HARTFORD, CONN. — Connecticut-based Goman + York has brokered the sale of a 57,000-square-foot property formerly known as William Seely School that is located near the junction of I-95 and State Routes 12 and 184 in East Hartford. The new owner, Connecticut-based DonMar Development, plans to redevelop the 14-acre property into a 280-unit apartment community. Goman + York represented the seller, the Town of Groton, in the transaction. A construction timeline for the redevelopment was not disclosed.

January 26, 2021

Acquisitions California Multifamily Western

Waterton Purchases 293-Unit OLiVE DTLA Multifamily Community in Downtown Los Angeles

by Amy Works January 26, 2021

LOS ANGELES — Waterton has purchased OLiVE DTLA, a seven-story mid-rise multifamily community located at 1243 S. Olive St. in downtown Los Angeles. Blake Rogers, Alexandra Caniglia, Hunter Combs, Javier Rivera and Kevin Sheehan of Walker & Dunlop represented the undisclosed seller in the deal. Justin Nelson and Allan Edelson, also of Walker & Dunlop, arranged acquisition financing for Waterton. Built in 2017, OLiVE DTLA features 293 apartments in a mix of studio, one- and two-bedroom floor plans. Units offer stainless steel appliances, subway tile backsplashes, European-style cabinets, quartz countertops, double pane floor-to-ceiling windows and wood-plank flooring. Additionally, select units feature balconies. Community amenities include a lobby, lounge, rooftop courtyard, resort-style pool area with sundeck, fire pit, grilling stations, business center, fitness center, on-site pet park and underground, controlled-access parking. The property also features 14,500 square feet of street-level retail space, 2,400 square feet of which Waterton plans to convert into 110 residential storage units. The company also plans to improve in-tenant technology access.

January 26, 2021

Acquisitions Arizona Multifamily Western

Next Wave Investors Buys The Grove on Glendale Apartments in Phoenix for $25.5M

by Amy Works January 26, 2021

PHOENIX — Next Wave Investors has acquired The Grove on Glendale, a for-rent townhome community located in North Central Phoenix, for $25.5 million. Located at 917 W. Glendale Ave., the 56-unit property consists of two-story townhomes offering a mix of three-bedroom/two-and-a-half-bathroom and four-bedroom/three-and-a-half-bathroom layouts, averaging 1,840 square feet. Each residence includes walk-in closets, large bedrooms, in-unit washers/dryers, a two-car private garage and fenced-in backyard. Community amenities include a swimming pool. Alon Shnitzer, John Kobierowski, Rue Bax, Doug Lazovick and Eddie Chang of ABI Multifamily represented the buyer and seller, an Arizona-based private investment developer, in the deal.

January 26, 2021

Acquisitions Arizona Industrial Western

MIG Real Estate Acquires Gateway Technology Commerce Center in Mesa for $21.4M

by Amy Works January 26, 2021

MESA, ARIZ. — MIG Real Estate has purchased Gateway Technology Commerce Center, a multi-tenant industrial and warehouse project located at 7535 E. Ray Road in Mesa. Phoenix-based Orsett Properties, the original developer, sold the asset for $21.4 million. Built in 2019, the 138,692-square-foot, Class A project features dock-high and grade-level loading, 24- and 28-foot clear heights, a 180-foot secured gated truck court and ESFR sprinklers. At the time of sale, the property was 90.3 percent occupied. Steve Lindley, Eric Wichterman and Will Strong of Cushman & Wakefield’s Phoenix office represented the seller in the transaction. Ken McQueen and Chris McClurg of Lee & Associates provided leasing advisory services.

January 26, 2021

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