Acquisitions

Trion Properties Acquires Two Adjacent Multifamily Assets Near Portland Totaling 95 Units

by Amy Works January 14, 2021

TUALATIN, ORE. — Trion Properties has purchased two adjacent apartment communities in Tualatin, a southwest suburb of Portland. Terms of the transaction were not released. Trion will operate the two properties, formerly known as Casa De Robles and Cypress Gardens, as one community – Fox Meadows, located at 19605 SW Boones Ferry Road. Built in 1968, the property features 95 townhome-style units in a variety of floor plans, ranging from 562 square feet to 1,033 square feet, with patios and decks available on some units. Recent interior upgrades include grey vinyl plank flooring, stainless steel appliances, quartz countertops, undermount sinks, new custom cabinetry, Bluetooth locks and upgraded bathroom vanities. Common amenities include a swimming pool, laundry facilities and ample parking and storage.

January 14, 2021

Acquisitions Colorado Hospitality Western

Marcus & Millichap Arranges $2.2M Sale of Days Inn & Suites in Gunnison, Colorado

by Amy Works January 14, 2021

GUNNISON, COLO. — Marcus & Millichap has directed the sale of Days Inn & Suites, a hotel located in Gunnison. An out-of-state private investor acquired the hotel from a private investor for $2.2 million. Built in 1983, Days Inn & Suites offers 44 guest rooms. Located at 701 US-50, the hotel is approximately 0.25 miles from the Gunnison-Crested Butte Regional Airport. Allan Miller, Chris Gomes and Michael Fasano of Marcus & Millichap handled the transaction.

January 14, 2021

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 577-Unit Self-Storage Facility in Houston

by Taylor Williams January 14, 2021

HOUSTON — Marcus & Millichap has arranged the sale of Strack Road Storage, a 577-unit facility located on the city’s northwest side. The property spans 198,005 square feet. Dave Knobler of Marcus & Millichap represented the seller, a locally based partnership, in the transaction. Knobler also secured the buyer, New York-based Merit Hill Capital.

January 14, 2021

Acquisitions Affordable Housing Multifamily Texas

Greysteel Brokers Sale of 150-Unit Affordable Housing Property in El Paso

by Taylor Williams January 14, 2021

EL PASO, TEXAS — Greysteel has brokered the sale of Cien Palmas Apartments, a 150-unit Section 8 housing property in El Paso. Built in 1971, the garden-style community is located about eight miles southeast of the downtown area and offers amenities such as a pool, playground, basketball court and onsite laundry facilities. Doug Banerjee and John Marshall Doss of Greysteel represented the seller and the buyer, both of which were private investors that requested anonymity, in the transaction.

January 14, 2021

Acquisitions Healthcare Midwest Ohio

Montecito Acquires 91,300 SF Medical Office Building in Sandusky, Ohio

by Kristin Harlow January 14, 2021

SANDUSKY, OHIO — Montecito Medical Real Estate has acquired a three-story, 91,300-square-foot medical office building in Sandusky, about 60 miles west of Cleveland. The purchase price and seller were undisclosed. The facility serves as the flagship location for Northern Ohio Medical Specialists (NOMS) and is fully leased to the organization. The building was constructed in 2009 and expanded in 2018 with the addition of an ambulatory surgery center. NOMS is a major provider across Northern Ohio, with 45 locations and more than 260 providers in 30 different medical specialties.

January 14, 2021

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $7.2M Sale of Multifamily Property in Lockport, Illinois

by Kristin Harlow January 14, 2021

LOCKPORT, ILL. — Kiser Group has brokered the $7.2 million sale of Lockport South Apartments in Lockport, about 30 miles southwest of Chicago. Located at 551 Diane Court, the 80-unit property was owned by the same entity since the 1980s. Matt Halper, Danny Mantis and Lee Kiser of Kiser Group brokered the sale. The buyer and seller information was undisclosed.

January 14, 2021

Acquisitions Midwest Missouri Restaurant Retail

Block & Co. Acquires Net-Leased Restaurant Property in Liberty, Missouri

by Kristin Harlow January 14, 2021

LIBERTY, MO. — Block & Co. Inc. Realtors has acquired a 2,685-square-foot property occupied by Dickey’s Barbecue Pit in Liberty within metro Kansas City. The purchase price was undisclosed. The net-leased building is located at 600 S. 291 Highway. Block & Co. will serve as property manager. David Block of Block & Co. represented the company in its purchase.

January 14, 2021

Acquisitions New Jersey Northeast Retail

Sterling Organization Acquires 94,550 SF Grocery-Anchored Retail Center in Sewell, New Jersey

by Taylor Williams January 14, 2021

SEWELL, N.J. — Sterling Organization, a Florida-based private equity firm, has acquired Mill Pond Village, a 94,550-square-foot, grocery-anchored retail center located in the Southern New Jersey community of Sewell. ShopRite is the anchor grocer at the center, which is located approximately 14 miles outside of Philadelphia. The seller was EDENS, a national retail development firm. Jim Galbally, Chris Munley and Colin Behr of JLL brokered the transaction. The property was 95 percent leased at the time of sale.

January 14, 2021

Acquisitions Industrial New Jersey Northeast

JLL Negotiates Sale of 55,000 SF Industrial Property in Boonton, New Jersey

by Taylor Williams January 14, 2021

BOONTON, N.J. — JLL has negotiated the sale of a 55,000-square-foot light industrial property located at 95 Fulton St. in Boonton, about 30 miles west of New York City. The property is situated on 14.2 acres and features 24- to 40-foot clear heights, 112 parking spaces and 11,000 square feet of office space. Howard Weinberg of JLL represented the seller, steel manufacturer Erasteel Inc., in the transaction. Jeffrey Fulton and Jason Levy of Team Resources Inc. represented the buyer, J. Supor & Son Trucking & Rigging.

January 14, 2021

Acquisitions Industrial NAI New Jersey Northeast

NAI Hanson Brokers Sale of 45,670 SF Industrial Building in Clifton, New Jersey

by Taylor Williams January 14, 2021

CLIFTON, N.J. — NAI James E. Hanson has brokered the sale of a 45,670-square-foot industrial building located at 9 Bridewell Place in the Northern New Jersey city of Clifton. Building features include 23-foot clear heights and 11,102 square feet of office space. Ken Lundberg, Darren Lizzack, Randy Horning, Pat Lennon and Lorenzo Lambiase of NAI Hanson represented the seller, Challenge Partners LLC, in the transaction. The buyer was beverage producer and distributor 3 V Co. Inc.

January 14, 2021

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