Acquisitions

Associated-Medical-Professionals-Syracuse

Colliers Arranges $13.5M Sale of Medical Office Buildings in Syracuse

by Taylor Williams October 13, 2020

SYRACUSE, N.Y. — Colliers International has arranged the $13.5 million sale of a 33,836-square-foot medical office building in Syracuse. The property is leased to regional healthcare provider Associated Medical Professionals, which houses its urology and oncology centers in the building. The sale also included a medical office building in Auburn, New York, that is also occupied by Associated Medical Professionals. Eric Grad of Colliers brokered the deal in conjunction with Britt Raymond and Kyle Fant of SRS Real Estate Partners. The seller was a locally based developer, and the buyer was a Missouri-based family office specializing in medical office properties.

October 13, 2020

Acquisitions Industrial Northeast Pennsylvania

Binswanger Brokers Sale of 151,220 SF Industrial Building Near Philadelphia

by Taylor Williams October 13, 2020

CHALFONT, PA. — Binswanger has brokered the sale of a 151,220-square-foot industrial building located at 90 Hamilton St. in Chalfont, about 30 miles north of Philadelphia. The sales price was approximately $6 million. The property sits on 13.7 acres and features 23-foot clear heights and 6,000 square feet of office space. Chris Pennington and Tim Pennington of Binswanger represented the seller, specialty gifts maker Harriet Carter, in the transaction. The buyer was not disclosed.

October 13, 2020

Acquisitions Company News Georgia Industrial Southeast Top Stories

Americold Acquires Cold Storage Owner Agro Merchants Group for $1.7B

by John Nelson October 13, 2020

ATLANTA AND SCHIPHOL, NETHERLANDS — Americold Realty Trust (NYSE: COLD) has agreed to acquire Agro Merchants Group, a privately held cold storage warehouse owner based in The Netherlands, for $1.74 billion. Atlanta-based Americold entered into the agreement with Agro Merchants’ owner, an investor group led by funds managed by Los Angeles-based Oaktree Capital Management LP. The move will give Americold its first cold storage properties in Europe. Agro Merchants, which has its North American headquarters in Alpharetta, Ga., owns and operates 46 cold storage properties in 10 countries. The company is the fourth largest cold storage owner in the United States and third largest in Europe. Agro Merchants serves more than 2,900 customers across multiple industries. “We are confident that by joining Americold, we will accelerate our growth and by combining our complementary networks, we will be able to provide a more comprehensive range of solutions to customers around the world,” says Carlos Rodriguez, CEO of Agro Merchants. Americold is the only publicly traded REIT specializing in cold storage, which is seeing an influx of investment and leasing demand since the onset of the pandemic. According to a June report from Vyzn Research, the global cold storage sector is estimated …

October 13, 2020

Acquisitions Florida Industrial Southeast

Cushman & Wakefield Negotiates Sale of 562,758 SF Industrial Facility in Metro Orlando

by Alex Tostado October 12, 2020

LAKE MARY, FLA. — Cushman & Wakefield has negotiated the sale of Innovation Center at Lake Mary, a 562,758-square-foot industrial facility in Lake Mary. The property is located at 2452 Lake Emma Road, 18 miles north of downtown Orlando and three miles from Interstate 4. The asset features 28-foot clear heights, ESFR sprinklers, 50 dock-high doors and a 50-slip trailer parking lot. Innovation Center was 97 percent leased at the time of sale to tenants including recycling center A1 Assets Inc., Alliance Building Material Supply, Orlando Wedding & Party Rentals and Dream Maker Spas. Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Zachary Eicholtz, Ryan Jenkins, David Perez and Jared Bonshire of Cushman & Wakefield represented the seller, a partnership between IP Capital Partners and Blue Vista Capital Management, in the transaction. ATCAP Partners acquired the asset. Jason Hochman and Mike Ciadella of Cushman & Wakefield arranged acquisition financing on behalf of the buyer. Terms of the loan and the sale were not disclosed.

October 12, 2020

Acquisitions Mississippi Retail Southeast

SRS Brokers $6.3M Sale of Walgreens-Occupied Property in Jackson, Mississippi

by Alex Tostado October 12, 2020

JACKSON, MISS. — SRS Real Estate Partners has arranged the $6.3 million sale of a single-tenant retail property triple-net leased to Walgreens in Jackson. The 14,550-square-foot building spans 1.7 acres and was built in 2015. There are 15 years remaining on the corporate-guaranteed lease. The Walgreens is situated at 310 Meadowbrook Road, four miles north of downtown Jackson. Matthew Mousavi, Patrick Luther and Parker Walter of SRS represented the seller, an undisclosed family office completing a 1031 exchange. Mark Ruble of Marcus & Millichap represented the undisclosed seller, which also developed the property, in the transaction.

October 12, 2020

Acquisitions Industrial Massachusetts Northeast

Cabot, Cabot & Forbes Acquires Industrial Flex Property in Cambridge for $49.6M

by Taylor Williams October 12, 2020

CAMBRIDGE, MASS. — Locally based developer Cabot, Cabot & Forbes has acquired a 66,964-square-foot industrial flex property located at 67 Smith Place in Cambridge for $49.6 million. The site is adjacent to The Quad, the firm’s master-planned development that includes 485 multifamily units, 60,000 square feet of retail space and 575,000 square feet of lab space. Cabot, Cabot & Forbes raised $21 million on CrowdStreet to help fund the acquisition and will implement a capital improvement program.

October 12, 2020

Acquisitions Industrial Northeast Pennsylvania

Binswanger Arranges Sale of 171,646 SF Industrial Property Near Philadelphia

by Taylor Williams October 12, 2020

MONTGOMERYVILLE, PA. — Binswanger Commercial Real Estate Services has arranged the sale of a 171,646-square-foot industrial property located at 425 Stump Road in Montgomeryville, a northern suburb of Philadelphia. The sales price was $8.5 million. Built on 9.8 acres in 1970, the property features 12 dock-high doors, 16-foot clear heights and 20,000 square feet of office space. Chris Pennington and Tim Pennington of Binswanger represented the seller, specialty gift maker Harriet Carter, in the transaction.

October 12, 2020

Acquisitions California Company News Office Western

Allianz Real Estate Buys Stake in 221 Main Street Office Building in San Francisco for $180M

by Amy Works October 12, 2020

SAN FRANCISCO — Columbia Property Trust and Allianz Real Estate have completed the formation of a joint venture to recapitalize 221 Main Street, a LEED Platinum- and Energy Star-certified office building in San Francisco’s South Financial District. Allianz contributed $180 million in cash for a 45 percent ownership in the joint venture, which values 221 Main Street at $400 million. Columbia will retain a 55 percent ownership stake in the property, function as general partner for the venture and continue to oversee day-to-day operations of the asset. Acquired by Columbia in 2014, 221 Main Street features 381,000 square feet of office space, Bay views and abundant outdoor space. The property is fully leased, primarily to tech tenants such as DocuSign and Prosper Marketplace. With this transaction, Columbia and Allianz now own five properties as joint venture partners. The joint venture portfolio has a collective gross asset value of $2.3 billion.

October 12, 2020

Acquisitions Multifamily Utah Western

Buchanan Street Partners Sells 160-Unit Ascent in Cottonwood Apartments Near Salt Lake City

by Amy Works October 12, 2020

COTTONWOOD HEIGHTS, UTAH — Buchanan Street Partners has completed the sale of Ascent in Cottonwood, a multifamily property located at 1151 E. 6720 S in Cottonwood Heights. Warmington Properties acquired the community for an undisclosed price. Built in 1996, the property features 160 apartments, a swimming pool with poolside pergola, outside television, bocce ball court and dog park. Danny Shin, Brock Zylstra, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the transaction.

October 12, 2020

Acquisitions Colorado Net Lease Retail Western

Taylor Street Brokers $7.8M Acquisition of Animal Clinic in Parker, Colorado

by Amy Works October 12, 2020

PARKER, COLO. — Taylor Street Advisors has arranged the purchase of Animal Emergency & Specialty Center, located at 17701 Cottonwood Drive in Parker. Woodridge Apartment Holdings acquired the single-tenant property from Veterinary Property Management for $7.8 million. Compassion-First Pet Hospitals occupies the 19,338-square-foot building with more than 10 years remaining on its triple-net lease. The building sits on a 69,696-square-foot lot. Jake Baratz and Boston Chauthani of Taylor Street Advisors represented the buyer, while Andrew Evans of Mathews Real Estate Investment Services represented the seller in the deal.

October 12, 2020

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