Acquisitions

Stan Johnson Co. Arranges $30.5M Sale-Leaseback of Medical Office Portfolio in Upstate South Carolina

by Alex Tostado September 1, 2020

GREENVILLE, EASLEY AND SIMPSONVILLE, S.C. — Stan Johnson Co. has arranged the $30.5 million sale-leaseback of a four-property medical office portfolio in Upstate South Carolina. The properties are situated at 5 Stevens St. and 601 Halton Road in Greenville, 220 S. Pendleton St. in Easley and 1 Colony Centre Way in Simpsonville. Teresa Lovely and Jeff Matulis of Stan Johnson Co. represented the seller and tenant, Jervey Eye Group, which executed long-term leases at the time of sale. Indiana-based Cornerstone Cos. Inc. acquired the portfolio, which was built between 2000 and 2018.

September 1, 2020

Acquisitions Florida Industrial Southeast

Americold Realty Trust Purchases New Cold Storage Facility in Tampa for $25M

by Alex Tostado September 1, 2020

TAMPA, FLA. — Americold Realty Trust has acquired a 3.2 million-cubic-foot cold storage facility in Tampa for $25 million in an all-cash deal. The Atlanta-based refrigerated real estate owner and operator expects to implement $500,000 in capital expenditures. The facility features 12,400 pallet positions, as well as blast-freezing capabilities. The property will offer support to two Americold facilities in nearby Plant City and Bartow, Fla. The seller was not disclosed.

September 1, 2020

Acquisitions Midwest Missouri

US Carriers Buys 16 Acres Along Mississippi River in North St. Louis

by Kristin Harlow September 1, 2020

ST. LOUIS — US Carriers has purchased 16 acres along the Mississippi River in north St. Louis City for an undisclosed price. The land is located at 9320 and 9350 Riverview Drive within an opportunity zone. Steve Stradal, Brian Kelley and George Convy of Avison Young represented the seller, the estate of the late artist and sculptor Bob Cassily. The land was intended to be a part of Cassily’s public art exhibit, Cementland. Avison Young is currently marketing for sale the other 40 acres of Cementland at 9403 Riverview Drive.

September 1, 2020

Acquisitions Illinois Midwest Multifamily Retail

Interra Realty Brokers $5.6M Sale of Apartment, Retail Building in Chicago

by Kristin Harlow September 1, 2020

CHICAGO — Interra Realty has brokered the $5.8 million sale of an apartment and retail building located at 2020-36 W. Montrose Ave. in Chicago’s Ravenswood neighborhood. Built in 1927, the property includes 22 apartment units situated above nine retail spaces. At the time of sale, the apartments were 94 percent occupied and the retail spaces were fully leased. Joe Smazal of Interra represented both the undisclosed buyer and seller.

September 1, 2020

Acquisitions Kansas Midwest Restaurant Retail

Block & Co. Acquires Sonic-Occupied Property in Overland Park, Kansas

by Kristin Harlow September 1, 2020

OVERLAND PARK, KAN. — Two investment groups headed by Block & Co. Inc. Realtors have acquired a 1,434-square-foot property net leased to Sonic in Overland Park for an undisclosed price. The restaurant sits on .8 acres at 10701 Roe Ave. Block & Co. will manage the property. David Block and Max Kosoglad of Block & Co. represented the buyers. Micah Feingold Commercial Real Estate represented the seller.

September 1, 2020

Acquisitions Multifamily Washington Western

Kidder Mathews Arranges $44.5M Purchase of Knol Apartments in Kent, Washington

by Kristin Harlow September 1, 2020

KENT, WASH. — Kidder Mathews has arranged the $44.5 million sale of Knol Apartments in Kent, about 20 miles south of Seattle. The sales price represents $207,000 per unit and $302 per net rentable square foot. Formerly known as La Mirage Apartments, the property last traded hands in July 2018. Since then, the owners transformed the community by modernizing the clubhouse, leasing office, outdoor spaces and building interiors and exteriors. Dylan Simon, Jerrid Anderson and Matt Laird of Kidder Mathews brokered the sale. Buyer and seller information was not disclosed.

September 1, 2020

Acquisitions Colorado Multifamily Western

Trion Properties Acquires 288-Unit Multifamily Community in Suburban Denver for $38M

by Kristin Harlow September 1, 2020

NORTHGLENN, COLO. — Trion Properties has acquired The View at North Peak in the Denver suburb of Northglenn for $38 million. The 288-unit apartment community marks Trion’s first acquisition in the Denver market. Built in 1970, the property features one- and two-bedroom units with two swimming pools. Trion plans to rebrand the community as View Apartments and make interior and exterior improvements. Craig Stack and Bill Morkes of Colliers International represented both the buyer and the seller, a New York-based investment real estate company. Continental Partners arranged acquisition financing through Fannie Mae.

September 1, 2020

Acquisitions Arizona Office Western

CBRE Brokers Sale of Perimeter Parkview Corporate Center in Scottsdale, Arizona

by Kristin Harlow September 1, 2020

SCOTTSDALE, ARIZ. — CBRE has brokered the sale of Perimeter Parkview Corporate Center in Scottsdale for an undisclosed price. The 24,154-square-foot Class A office building is located at 8355 E. Hartford Drive within the 260-acre Perimeter Center development. It is fully leased to six tenants across various industries. Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller, Canada-based Melcor Developments. Newport Beach, Calif.-based Mark IV Capital Inc. purchased the building.

September 1, 2020

Acquisitions Colorado Multifamily Western

Pinnacle Negotiates $3.1M Acquisition of Multifamily Building in Lakewood, Colorado

by Kristin Harlow September 1, 2020

LAKEWOOD, COLO. — Pinnacle Real Estate Advisors LLC has negotiated the sale of 9885 W. 21st Ave. in Lakewood for $3.1 million. The 16-unit multifamily building, constructed in 1961, received recent capital improvements such as new paint, landscaping, hot water heaters, laundry equipment, windows, lighting and interiors. Robert Lawson, Jim Knolton and Luke Salazar of Pinnacle represented the undisclosed buyer and seller.

September 1, 2020

Acquisitions Office Oregon Retail Western

Norris & Stevens Arranges $2.6M Sale of Office, Retail Building in Portland

by Kristin Harlow September 1, 2020

PORTLAND, ORE. — Norris & Stevens Inc. has arranged the sale of a 9,048-square-foot office and building in Portland for $2.6 million. Located at 12923 NW Cornell Road, the two-story property is fully leased to seven tenants, including Next Home Realty, Edward Jones, The Foot Spa, American Family Insurance, Cedar Mils Chiropractic, Bridgetown Optometric Associates and Loft 202 Hair Studio. Todd VanDomelen and Charles Conrow of Norris & Stevens represented the buyers, L&N Fifth LLC and L&N Second LLC. Will Stone and Scott Logan of Marcus & Millichap represented the undisclosed seller. Norris & Stevens will manage the property on behalf of the buyer.

September 1, 2020

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