Acquisitions

Hanley Investment Group Arranges $2.6M Sale of New Starbucks-Occupied Property in Rancho Cordova

by Amy Works February 26, 2021

RANCHO CORDOVA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly constructed, single-tenant retail property located within Zinfandel Village, a shopping center in Rancho Cordova. An Orange County-based private investor acquired the property from Irvine-based Pacific Castle Management for $2.6 million. Starbucks Coffee occupies the 2,200-square-foot freestanding building with a drive-thru, which is located at 2875 Zinfandel Drive. Other tenants at Zinfandel Village include Grocery Outlet, Pizza Hut, Burger King, Popeyes, Lumber Liquidators, Little Caesars, Skechers and Sourdough & Co. Bill Asher and Kevin Fryman of Hanley Investment represented the seller, while Eric Reuveni of Encino-based Los Angeles Commercial Real Estate Group represented the buyer in the deal.

February 26, 2021

456-Sullivan-Ave.-South-Windsor-Connecticut

Acquisitions Connecticut Industrial Northeast

Metropolitan Realty Associates Buys Connecticut Distribution Center for $50M

by Taylor Williams February 26, 2021

SOUTH WINDSOR, CONN. — Investment firm Metropolitan Realty Associates (MRA) has acquired a 304,249-square-foot distribution center at 456 Sullivan Ave. in South Windsor, located roughly midway between Boston and New York City, for $50 million. Originally constructed by SunCap Property Group in 2012 and expanded in 2015, the Class A property features a clear height of 31.5 feet, 72 trailer parking spaces, 75 long-trailer parking spaces and 99 dock bays specifically designed for heavy distribution uses. An undisclosed transportation company occupies the entirety of the property. Newmark brokered the transaction and arranged acquisition financing through a major institutional lender. Clarion Partners LLC provided equity for the venture through its Clarion Partners Real Estate Income Fund Inc.

February 26, 2021

Acquisitions Industrial New Jersey Northeast

Sheldon Gross Realty Brokers Sale of 102,000 SF Warehouse in Farmingdale, New Jersey

by Taylor Williams February 26, 2021

FARMINGDALE, N.J. — New Jersey-based Sheldon Gross Realty has brokered the sale of a 102,000-square-foot warehouse in Farmingdale, located in the western-central part of the state. The sale included an adjacent undeveloped parcel. An affiliate of Merola Tile, a wholesale distributor of specialty tiles and supplies, purchased the asset for an undisclosed price. Jonathan Glick of Sheldon Gross brokered the deal.

February 26, 2021

Acquisitions Colorado Industrial Western

EverWest Acquires Two-Building Industrial Portfolio in Aurora, Colorado for $66.4M

by Amy Works February 25, 2021

AURORA, COLO. — EverWest Real Estate Investors has purchased Tower Business Center, a 422,961-square-foot industrial portfolio in Aurora, from a joint venture between United Properties and Artis REIT for $66.4 million. Delivered in 2019, Tower Business Center features a 289,113-square-foot building and a 133,848-square-foot building located at 18701 and 18901 E. 38th Ave. The facilities offer 32-foot clear heights, a combined 73 dock-high and five drive-in doors, 130-foot truck courts with secured yards, LED lighting and ESFR sprinkler systems. In total, the campus offers parking for 417 cars and 73 trailers. The 18701 cross-dock building is fully leased to Tempur Sealy, and the 18901 building, with cooler, dry storage and riping capabilities, is fully occupied by Sprouts Farmers Market. Jim Bolt, Jeremy Ballenger, Tyler Carner and Jessica Ostermick of CBRE’s Denver office represented the seller in the transaction.

February 25, 2021

Acquisitions Arizona Healthcare Western

Nutex Health Buys Gilbert Emergency Hospital in Arizona for $10.5M

by Amy Works February 25, 2021

GILBERT, ARIZ. — Houston-based Nutex Health, a service provider and management firm in the micro-hospital and freestanding emergency room industry, has acquired Gilbert Emergency Hospital, a medical facility located at 5656 S. Power Road in Gilbert. MPT Operating Partnership LP DBA MPT of Gilbert LLC sold the asset for $10.5 million. Built in 2005, the 31,452-square-foot medical office serves as a privately run emergency facility with 42 acute-care beds. The property is Nutex’s third facility in Arizona and 23rd facility in the United States. Philip Wurth and Alexandra Loye of Colliers represented the seller, while Christian Giles of Arizona Healthcare Realty represented the buyer in the deal.

February 25, 2021

Acquisitions Multifamily Nevada Western

Northcap Commercial Brokers Sale of 111-Unit MCR Apartments in Las Vegas

by Amy Works February 25, 2021

LAS VEGAS — Northcap Commercial has arranged the sale of MCR Apartments, a multifamily property located in Las Vegas. Michelas LLC sold the asset to an undisclosed buyer for $6.8 million, or $61,261 per unit. Located at 226 W. St. Louis Ave., the property features 111 apartments. The community was built in 1955. Devin Lee, Jason Dittenber, Jerad Roberts and Robin Willett of Northcap Commercial represented the seller in the deal.

February 25, 2021

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Negotiates $12.6M Sale of Two Multifamily Assets in Suburban Minneapolis

by Kristin Harlow February 25, 2021

BROOKLYN CENTER AND BROOKLYN PARK, MINN. — Marcus & Millichap has negotiated the sale of two multifamily properties in suburban Minneapolis for $12.6 million. Built in the late 1960s, West Broadway Apartments in Brooklyn Park includes 59 units. Monthly rents range from $850 to $1,673. Sterling Square Apartments in Brooklyn Center features 54 units across four buildings. Units average 820 square feet and monthly rents range from $860 to $1,665. Abe Roberts of Marcus & Millichap marketed the properties on behalf of the seller and procured the buyer, a national investor.

February 25, 2021

Acquisitions Multifamily Texas

Embrey Partners Sells 353-Unit Kelley at Samuels Avenue Apartments in Fort Worth

by Taylor Williams February 25, 2021

FORT WORTH, TEXAS — San Antonio-based developer Embrey Partners has sold Kelley at Samuels Avenue, an apartment community that overlooks the Trinity River in Fort Worth. According to Apartments.com, Kelley at Samuels Avenue was built in 2018 and totals 353 units. The property features one-, two- and three-bedroom units with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, fitness center, game room, beer garden, outdoor kitchen and a pet spa. The buyer was not disclosed.

February 25, 2021

Echelon-at-Monterrey-Village-San-Antonio

Acquisitions Multifamily Texas

180 Multifamily Properties Buys 240-Unit Apartment Community in West San Antonio

by Taylor Williams February 25, 2021

SAN ANTONIO — 180 Multifamily Properties, an investment firm based in Arlington, Texas, has purchased Echelon at Monterrey Village, a 240-unit apartment community in west San Antonio. Built in 2018, the property features one-, two- and three-bedroom units with stainless steel appliances, tile backsplashes and oversized tubs. Amenities include a pool, fitness center, coffee bar, sand volleyball court, a resident lounge and business center and communal outdoor green space. Will Caruth, Mike Miller and Cody Courtney of Berkadia represented the seller, The Garrett Cos., an Indiana-based developer.

February 25, 2021

Acquisitions Industrial New Jersey Northeast Self-Storage

Tulfra Real Estate Sells 816-Unit Self-Storage Facility in Rochelle Park, New Jersey

by Taylor Williams February 25, 2021

ROCHELLE PARK, N.J. — Tulfra Real Estate, a locally based investment and development firm, has sold an 816-unit self-storage facility in the Northern New Jersey community of Rochelle Park. The four-story, 113,000-square-foot facility is located within the seven-acre Village Center of Rochelle Park mixed-use development. The buyer was Columbia Self Storage. Tulfra Real Estate acquired the property, a former AT&T data site, in late 2018.

February 25, 2021

Newer Posts

Older Posts