Acquisitions

JLL Negotiates $9.1M Sale of Grocery-Anchored Shopping Center in Orlando

by Alex Tostado January 20, 2021

ORLANDO, FLA. — JLL has negotiated the $9.1 million sale of Southgate Shopping Center, a 144,052-square-foot retail property in Orlando. Aldi anchors the center, which was 92 percent leased at the time of sale to tenants including AutoZone, dd’s Discount’s, Aaron’s and Value Pawn. Additionally, the property can be expanded with the addition of a 6,000-square-foot pad site and drive-thru ATM development opportunity. The asset spans 17 acres and is located at 4649 S. Orange Blossom Trail, four miles south of downtown Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, Marx Realty, in the transaction. An undisclosed Texas-based real estate company purchased the property.

January 20, 2021

Acquisitions Arkansas Industrial Self-Storage Southeast

Goldman Investment Advisors Brokers $4.1M Sale of Self-Storage Property Near Memphis

by Alex Tostado January 20, 2021

WYNNE, ARK. — Goldman Investment Advisors has brokered the $4.1 million sale of Handy Rentals, a 96,455-square-foot self-storage property in Wynne. The property spans nine acres and is located at 1306 S. Falls Blvd., 49 miles west of downtown Memphis. Milwaukee-based Bank Five Nine provided acquisition financing to the buyer, Wynne Properties Group. Larry Goldman of Goldman Investment Advisors represented the undisclosed seller in the transaction. Goldman Investment Advisors is an affiliate of Denver-based Argus Self Storage Advisors.

January 20, 2021

Acquisitions Arizona Development Industrial Office Western

ViaWest Group Acquires Insight Enterprises Office Portfolio in Tempe, Plans Industrial Redevelopment

by Amy Works January 20, 2021

TEMPE, ARIZ. — A joint venture partnership led by Phoenix-based ViaWest Group has purchased three real estate properties in Tempe from Insight Enterprises for $26.8 million. Phil Breidenback and Kathy Foster of Colliers International Arizona represented the seller and handled the transaction. The portfolio includes a 102,000-square-foot office building at 6280 S. Harl Ave., a 130,270-square-foot industrial/back office property at 910 W. Carver Ave. and an adjacent 56,240-square-foot office building at 8123 S. Hardy Ave. ViaWest plans to demolish the South Harl Avenue building, which will house Insight’s headquarters through December of this year. ViaWest then plans to develop two Class A industrial buildings, totaling 358,114 square feet, on the 19-acre site. The facilities will feature 32-foot clear heights and a shared truck court. Each speculative building will be available for a single tenant or space divisible to 30,000 square feet. McCall & Associates is serving as architect and Wilmeng is serving as general contractor for the buildings, which are slated for completion in mid-2022. Rob Martensen of Colliers International Arizona will serve as leasing agent for the new buildings. The West Carver Avenue building offers 100,270 square feet of industrial/back office space and a 30,000-square-foot mezzanine area. Insight currently …

January 20, 2021

Acquisitions Industrial Midwest Ohio

Westmount Realty Capital Sells 289,491 SF Industrial Building Occupied by FedEx in Columbus, Ohio

by Kristin Harlow January 20, 2021

COLUMBUS, OHIO — Westmount Realty Capital LLC has sold a 289,491-square-foot industrial building occupied by FedEx Supply Chain Inc. in Columbus for an undisclosed price. The building is situated within the Rickenbacker Global Logistics Industrial Park. FedEx has occupied the property since September 2019. Westmount acquired the building in late 2018 as part of a 1.4 million-square-foot portfolio. Built in 1994, the industrial building sits on 14.3 acres along John Glenn Avenue. It features 46 loading docks, including five drive-in doors. Clear heights range from 24 to 28 feet. Jerry Hopkins of Newmark represented Westmount in the transaction. Buyer information was not disclosed.

January 20, 2021

Acquisitions Midwest Missouri Office Retail

Rubenstein Real Estate Acquires 20,000 SF Office, Retail Building in Kansas City

by Kristin Harlow January 20, 2021

KANSAS CITY, MO. — An affiliate of Rubenstein Real Estate, together with an affiliate of Exact Architects, has acquired a 20,000-square-foot office and retail building located at the corner of Linwood and Main streets in Kansas City. At the time of sale, the building was 25 percent occupied. A new tenant will soon lease a portion of the first floor, leaving 9,418 square feet remaining available for lease. Substantial building and common area renovations are underway. The two-story building features almost 80 parking spaces. Dwight Medbery III of Rubenstein led the buyer investment group. The purchase price and seller were undisclosed.

January 20, 2021

Acquisitions Arizona Industrial Western

KKR Buys 263,606 SF Distribution Facility in Goodyear, Arizona

by Amy Works January 20, 2021

GOODYEAR, ARIZ. — KKR has purchased a newly constructed 263,606-square-foot industrial distribution and warehouse property in Goodyear for $43.1 million. Principals of Minneapolis-based Provident Real Estate Ventures, along with Merit Partners and Sunbelt Holdings, sold the 263,606-square-foot facility. Situated on more than 15 acres, the property features three points of ingress and egress, a fully air-conditioned warehouse, 36-foot clear heights, ample loading with 100 percent truck courts and dedicated truck lanes, an ESFR sprinkler system and automatic truck court gates. One of the world’s leading manufacturers of large commercial vehicles fully occupies the property, which is located at 17017 W. Indian School Road. Will Strong, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal.

January 20, 2021

Acquisitions Iowa Midwest Multifamily

Marcus & Millichap Brokers $5.5M Sale of Manufactured Housing Community in Iowa

by Kristin Harlow January 20, 2021

STORM LAKE, IOWA — Marcus & Millichap has brokered the $5.5 million sale of Vista Estates in Storm Lake. The 127-space manufactured housing community in western Iowa sits on 14.3 acres at 811 Vestal St. Of the community’s homes, 112 are tenant-owned. Andrean Angelov and Ryan Engle of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The duo, along with Brad Kreppel, secured and represented the buyer, an out-of-state private investor.

January 20, 2021

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Advisors Negotiates $5.1M Sale of Cedar Ridge Apartments in Colorado Springs

by Amy Works January 20, 2021

COLORADO SPRINGS, COLO. — NorthPeak Commercial Advisors, formerly AQYRE REA, has brokered the sale of Cedar Ridge Apartments in Colorado Springs. Keith Hardy, Joe Hornstein and Scott Fetter of NorthPeak represented both undisclosed parties in the $5.1 million, or $105,102 per unit, transaction. Located at 3349-3363 E. Fountain Blvd., the 42,580-square-foot community features 49 apartments.

January 20, 2021

Acquisitions Industrial Texas

Huntington Industrial Partners Sells 468,300 SF Warehouse in Metro Dallas

by Taylor Williams January 20, 2021

LANCASTER, TEXAS — Colorado-based Huntington Industrial Partners has sold Park 20, a 468,300-square-foot warehouse located in the southern Dallas suburb of Lancaster. Built in 2017, the property offers immediate access to Interstates 35, 20 and 45 and was fully leased at the time of sale to pet products supplier PetMate. Building features include 32-foot clear heights, 99 overhead dock doors, an ESFR sprinkler system and 48 trailer parking stalls. Dustin Volz, Stephen Bailey and Zach Riebe of JLL represented the seller in the transaction. An affiliate of New York City-based Lexington Realty Trust purchased the asset for an undisclosed price.

January 20, 2021

Acquisitions Industrial Nevada Western

Colliers International Brokers $1.3M Sale of Industrial Property in Las Vegas

by Amy Works January 20, 2021

LAS VEGAS — Colliers International has arranged the sale of an industrial building located at 6676 Escondido St. in Las Vegas. Green Bean Battery acquired the property for $1.3 million. The asset features 6,059 square feet of industrial space. Brian Riffel and Tyler Jones of Colliers International represented the seller, Escondido Investments, in the transaction.

January 20, 2021

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