Acquisitions

Stan Johnson Co. Arranges $5.7M Sale of Walgreens-Occupied Property in Keizer, Oregon

by Amy Works November 10, 2020

KEIZER, ORE. — Stan Johnston Co. has brokered the sale of a retail property located at 5000 River Road North in Keizer. A Los Angeles-based institutional buyer sold the asset to a Long Beach, Calif.-based private investor for $5.7 million. Originally constructed in 2008 on 1.6 acres, the property features 13,775 square feet of retail space. Walgreens occupies the building on a net lease including a 15-year base term with rent increases every five years. Pat Weibel and BJ Feller of Stan Johnson Co. represented the seller in the transaction.

November 10, 2020

Acquisitions Colorado Office Western

John Propp Commercial Negotiates $3.8M Sale of Office Building in Littleton, Colorado

by Amy Works November 10, 2020

LITTLETON, COLO. — John Propp Commercial Group has arranged the sale of an office property located at 8089 S. Lincoln St. in Littleton. RMTN Properties sold the asset to MVP 8089 Lincoln Land for $3.8 million, or $148.97 per square foot. Situated near Littleton Adventist Hospital and Highlands Ranch, the property features 25,802 square feet of office space. The buyer plans to occupy the third floor of the building. Joshua Cohen of John Propp Commercial Group represented the seller in the deal.

November 10, 2020

Acquisitions Florida Multifamily Southeast

Stoneweg Buys Tampa Bay Apartment Community for $114M

by Alex Tostado November 9, 2020

ST. PETERSBURG, FLA. — An affiliate of Stoneweg US has bought Trellis at the Lakes Apartments, a 688-unit multifamily complex in St. Petersburg, for $114 million. The asset is situated at 11401 Dr. Martin Luther King Jr. St. N., 15 miles east of downtown Tampa. Trellis at the Lakes offers one- and two-bedroom floor plans. Communal amenities include a fitness center, pool, media center and a courtyard. The seller, an affiliate of ESG Kullen, acquired the property in 2016 for $80.9 million and invested in capital improvements during its ownership. Mark Meland and Bryan Vega of Miami-based Meland Budwick PA provided legal services for the seller. Patrick Dufour, Ryan Crowley, Andrew Visnick and Pibu Aulakh of Newmark represented the seller in the transaction. Matt Williams, James Maynard, Steve Comly and Adam Randall of Newmark arranged acquisition financing on behalf of the buyer. Additionally, Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia secured a joint venture equity partner for Stoneweg’s acquisition. The unnamed life insurance company invested $36 million for the deal.

November 9, 2020

Acquisitions Georgia Multifamily Southeast

Waterton Purchases Four Multifamily Communities Around Atlanta Totaling 1,824 Units

by Alex Tostado November 9, 2020

ATLANTA — Waterton has acquired four multifamily communities in Alpharetta, Roswell, Norcross and Atlanta totaling 1,824 units. The seller(s) and sales prices were not disclosed. The properties include the 554-unit Deerfield Village in Alpharetta, the 668-unit Roswell Village in Roswell, the 382-unit Gwinnett Pointe in Norcross and the 220-unit Briarcliff Apartments in Atlanta. Each property is situated in the northern arch of Atlanta between Ga. Highway 400 and Interstate 85. The communities were built between 1989 and 2001. Chicago-based Waterton will implement upgrades across the portfolio to renovate amenity spaces, common areas and outdoor areas.

November 9, 2020

Acquisitions Georgia Retail Southeast

Marcus & Millichap Arranges $3.7M Sale of Retail Strip Center Near Atlanta

by Alex Tostado November 9, 2020

BUFORD, GA. — Marcus & Millichap has arranged the $3.7 million sale of Hamilton Mill Crossings, an 11,722-square-foot retail strip center in Buford. The property was 88 percent leased at the time of the sale to tenants including Starbucks, Viral Vapes, Luxury Nail & Spa and AT&T Store. The asset is situated at 3265 Sardis Church Road, catty-corner from a Walmart Superstore and 40 miles northeast of downtown Atlanta. The undisclosed buyer was completing a 1031 exchange. Marc Irvin and Matthew Welch of Marcus & Millichap represented the undisclosed, Florida-based seller in the transaction.

November 9, 2020

Acquisitions Multifamily Texas

Cantor Fitzgerald, CAF Management Buy 444-Unit Apartment Community in Irving

by Taylor Williams November 9, 2020

IRVING, TEXAS — A joint venture between affiliates of Cantor Fitzgerald Investors LLC and CAF Management LLC has purchased The Station at MacArthur, a 444-unit apartment community located in the Las Colinas district of Irving. The property features townhouse-style residences in one-, two- and three-bedroom formats with an average unit size of 1,031 square feet. Amenities include four pools, a two-story fitness center, business center and a pet park. The property was approximately 95 percent leased at the time of sale. The seller was not disclosed.

November 9, 2020

Acquisitions Industrial Midwest Ohio

Cushman & Wakefield Brokers Sale of Marion Industrial Center in Central Ohio

by Kristin Harlow November 9, 2020

MARION, OHIO — Cushman & Wakefield has brokered the sale of the Marion Industrial Center in Marion within central Ohio. The sales price was undisclosed. Located at 3007 Harding Highway East, the property includes more than 1.5 million square feet of warehouse and manufacturing space on 511 acres. Marion Industrial Center has direct access to the CSX rail network. There is enough land to facilitate the immediate construction of millions of square feet of new Class A warehouse space, according to Cushman & Wakefield. Whitney Kerr Jr., Michael Flynn and Mike Hurd of Cushman & Wakefield represented the seller, a privately held group. Grant Tidemann of J.P. Weigand Commercial partnered with the Cushman & Wakefield team on the transaction. Jaguar Transport, a transportation and logistics service company, was the buyer.

November 9, 2020

Acquisitions Healthcare Midwest Wisconsin

Montecito Medical Acquires 130,000 SF Medical Office Building in Suburban Milwaukee

by Kristin Harlow November 9, 2020

GREENFIELD, WIS. — Montecito Medical Real Estate has acquired Aurora Health Center at 84South, a surgical center and medical office building in Greenfield, a suburb of Milwaukee. The purchase price was undisclosed. Built in 2019, the 130,000-square-foot, five-story facility is fully leased to Advocate Aurora Health. It is situated within the larger mixed-use development known as 84South. The property is one of the largest outpatient ambulatory sites for Advocate Aurora Health with eight surgical suites, two pain management procedure rooms, four gastroenterology suites and outpatient interventional radiological suites. The building also serves as a central location for Aurora Children’s Health Services and Aurora’s Sports Health Services. Advocate Aurora Health operates 27 acute care hospitals and employs roughly 3,700 physicians across Wisconsin, Michigan and Illinois.

November 9, 2020

Acquisitions Multifamily Seniors Housing Texas

The Ensign Group Acquires 82-Bed Skilled Nursing Facility in Amarillo

by Taylor Williams November 9, 2020

AMARILLO, TEXAS — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Medical Lodge of Amarillo, an 82-bed skilled nursing facility in Amarillo. The property was 45 percent occupied at the time of acquisition. This property brings Ensign’s portfolio to 227 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.

November 9, 2020

Acquisitions Healthcare Texas

Edge Realty Partners Arranges Sale of 17,150 SF Medical Office Building in Houston

by Taylor Williams November 9, 2020

HOUSTON — Edge Realty Partners has arranged the sale of a 17,150-square-foot medical office building located at 3222 Hillcroft Ave. in between Houston’s Uptown and Westchase neighborhoods. According to LoopNet Inc., the single-story property was built in 1969 and renovated in 2014. Micha Van Marcke and Chace Henke of Edge Realty Partners represented the undisclosed seller in the transaction. Other terms of sale were not released.

November 9, 2020

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