Acquisitions

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

Acquisitions California Hospitality Western

McClellan Business Park in Sacramento Expands with Addition of Lions Gate Hotel

by Amy Works January 26, 2021

SACRAMENTO, CALIF. — McClellan Business Park, a privately-owned, 3,000-acre mixed-use project in Sacramento, has acquired Lions Gate Hotel, located at 3410 Westover St. in McClellan Park, a census-designated place in Sacramento County. Oceanic Victorville LP, which owned the property since 2017, will remain under contract to operate the historic hotel. From 1938 to 2000, the 112-room asset served as military housing for McClellan Air Force Base. The property was renovated in 2019 and is adjacent to The Officer’s Club, a restaurant and event center also owned by McClellan Business Park. The hotel features a business center, room service, a swimming pool, ample parking and proximity to the Sacramento McClellan Airport.

January 26, 2021

Acquisitions Colorado Office Western

USA Triathlon Sells 40,084 SF Office Building in Colorado Springs to Dormie Capital Partners

by Amy Works January 26, 2021

COLORADO SPRINGS, COLO. — USA Triathlon of Colorado has completed the disposition of a three-story office building located at 5825 Delmonico Drive in Colorado Springs. Dormie Capital Partners acquired the asset for $4.6 million. The buyer plans to modernize the 40,084-square-foot building’s common areas and add amenities to serve its tenant roster, which includes USA Triathlon of Colorado. Brian Wagner and Mark O’Donnell Jr. of Newmark represented the seller in the deal.

January 26, 2021

Acquisitions Company News Industrial Northeast Office Pennsylvania Top Stories

Swedish Private Equity Firm Agrees to Buy Exeter Property Group in $1.9B Merger

by John Nelson January 26, 2021

STOCKHOLM AND CONSHOHOCKEN, PA. — EQT AB, a private equity firm based in Stockholm, has agreed to purchase Exeter Property Group, an industrial real estate owner and developer based in the Philadelphia suburb of Conshohocken. EQT plans to purchase Exeter using $800 million in EQT shares and nearly $1.1 billion in cash for a total acquisition price of nearly $1.9 billion, including the refinancing of Exeter’s existing $300 million in debt. Founded in 2006, Exeter has approximately $10 billion in assets under management. In addition to industrial properties, Exeter also owns life sciences and office space in the United States and Europe. Exeter has 37 offices in North America, Europe and Asia. EQT expects Exeter’s revenue in 2020 to total $135 million. Exeter’s recent acquisitions include Creekview Corporate Center in metro Dallas, a 193,000-square-foot industrial building in Illinois and a new distribution center in Pennsylvania totaling 1.2 million square feet. The company also recently developed a 673,920-square-foot speculative industrial building in the St. Louis suburb of Edwardsville, Ill. Upon completion of the transaction, Exeter will operate as EQT Exeter and will be part of the EQT Real Estate Assets division, which comprises EQT Infrastructure and EQT Real Estate. EQT Exeter …

January 26, 2021

Acquisitions Office Texas

Cawley Partners, Balfour Pacific Acquire 150,000 SF Office Building in Irving

by Taylor Williams January 25, 2021

IRVING, TEXAS — A partnership between locally based investment firm Cawley Partners and private equity firm Balfour Pacific Capital has acquired Westpoint I, a 150,000-square-foot office building in Irving’s Las Colinas district. Located at 1255 Corporate Drive, the six-story building sits on 5.3 acres and was 91 percent leased at the time of sale. The new ownership plans to upgrade the building’s common areas and add a grab-and-go food service. Parker McCormack and Andrew Levy of JLL represented the seller, New York City-based Highbrook Investors, in the transaction.

January 25, 2021

Acquisitions Industrial Texas

Boyd Commercial Brokers Sale of 84,200 SF Industrial Building in North Houston

by Taylor Williams January 25, 2021

HOUSTON — Locally based firm Boyd Commercial has brokered the sale of an 84,200-square-foot industrial building located at 5708 N. Shepherd Drive in North Houston. David Munson and David Boyd of Boyd Commercial represented the seller, the Estate of Frank D. Adams, in the transaction. John Ferruzzo and Nick Peterson of Transwestern represented the buyer, Geirin North Shepherd LLC.

January 25, 2021

Acquisitions Multifamily Texas

The Multifamily Group Arranges Sale of 72-Unit Property in Nacogdoches, Texas

by Taylor Williams January 25, 2021

NACOGDOCHES, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of Woodland Trails, a 72-unit apartment complex located about 150 miles north of Houston in Nacogdoches. The property was built in 1985. Gold Star Capital purchased the asset from an entity doing business as Hermosa Land Investment III LLC for an undisclosed price. Evan Burke of TMG brokered the deal.

January 25, 2021

Acquisitions Industrial New Jersey Northeast

Cohen Asset Management Buys 725,000 SF Industrial Portfolio in Northern New Jersey

by Taylor Williams January 25, 2021

MORRISTOWN, N.J. — Cohen Asset Management has purchased an 18-building, 725,000-square-foot industrial portfolio in the Meadowlands and surrounding submarkets of Northern New Jersey. The portfolio, which was fully leased at the time of sale, is primarily comprised of shallow-bay warehouses ranging in size from 16,000 to 78,000 square feet. Jon Mikula and Michael Lachs of JLL arranged acquisition financing for the deal through Principal Real Estate Advisors.

January 25, 2021

Acquisitions New Jersey Northeast Office

Savills Negotiates Sale of 127,000 SF Office Property in Montvale, New Jersey

by Taylor Williams January 25, 2021

MONTVALE, N.J. — Savills Inc. has negotiated the sale of a 127,000-square-foot office property in Montvale, located in the northernmost part of the state. Private equity firm Tryko Partners purchased the asset from Western Union, which was also the building’s former occupant, for $5.5 million. Gregg Najarian, Slava Vaynberg, Nate Brzozowski and Brendan Fisher of Savills brokered the deal on behalf of Western Union. Tryko plans to convert the building into a nursing home facility.

January 25, 2021

Acquisitions Massachusetts Multifamily Northeast Seniors Housing

Blueprint Brokers Sale of Two Assisted Living Communities in Massachusetts

by Taylor Williams January 25, 2021

MASSACHUSETTS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities totaling 195 units in Massachusetts. The properties were over 96 percent occupied at the time of sale. The buyer was a partnership between a New York-based operator and an investor with a home health business in the state. Further details on the seller, price and properties were not disclosed.

January 25, 2021

Newer Posts

Older Posts