Acquisitions

Anchor Health Acquires New Medical Office Building in Metro Atlanta for $29.8M

by Alex Tostado August 3, 2020

BROOKHAVEN, GA. — Anchor Health Properties has acquired Brookhaven Medical Center II, a new 51,429-square-foot medical office building in Brookhaven. The developers, G.H. Anderson & Co. and The Gipson Co., sold the property for $29.8 million, or $581 per square foot. Piedmont Healthcare’s Piedmont Physicians of Brookhaven fully occupies the property, which was delivered in early June. At the location, Piedmont Physicians of Brookhaven provides ENT, dermatology, orthopedic, ophthalmology and pulmonary services. The asset is situated at 3929 Peachtree Road NE, five miles from Piedmont Atlanta Hospital and 10 miles northeast of downtown Atlanta. Steve Hall and Kevin Markwordt of Transwestern Real Estate Services represented the sellers in the transaction.

August 3, 2020

Acquisitions Retail Southeast Virginia

SRS Arranges $1.8M Sale of Property Triple-Net Leased to Chick-fil-A in Fredericksburg, Virginia

by Alex Tostado August 3, 2020

FREDERICKSBURG, VA. — SRS Real Estate Partners has arranged the $1.8 million sale of a property triple-net leased to Chick-fil-A in Fredericksburg. Chick-fil-A has occupied the 3,781-square-foot property for 20 years and recently extended its corporate-guaranteed lease for another five years. The asset is situated at 4220 Plank Road, five miles west of downtown Fredericksburg. Andrew Fallon and Rick Fernandez of SRS represented the undisclosed seller in the transaction. The buyer was also not disclosed.

August 3, 2020

Acquisitions Midwest Ohio Retail

Marathon Petroleum Agrees to Sell Speedway Gas Stations to Owners of 7-Eleven for $21B

by Kristin Harlow August 3, 2020

FINDLAY, OHIO — Marathon Petroleum Corp. (NYSE: MPC) has entered into a definitive agreement with 7-Eleven Inc. whereby 7-Eleven will acquire the convenience store chain Speedway for $21 billion in cash. The transaction is expected to close in the first quarter of 2021. Ohio-based Marathon expects the sale to result in after-tax cash proceeds of approximately $16.5 billion and to use the proceeds to both repay debt and return capital to shareholders. The arrangement includes a 15-year fuel supply agreement for approximately 7.7 billion gallons per year associated with the Speedway business. Speedway, a subsidiary of Marathon, owns and operates retail convenience stores nationwide. The deal includes about 3,900 convenience stores and would bring 7-Eleven’s retail footprint in the U.S. and Canada to roughly 14,000 locations, according to The Wall Street Journal. Tokyo-based Seven & i Holdings Co. Ltd. is the parent company of 7-Eleven.

August 3, 2020

Acquisitions Midwest Minnesota NAI Retail

NAI Legacy, Restoration Hardware Complete $25.5M Sale-Leaseback Transaction in Edina, Minnesota

by Kristin Harlow August 3, 2020

EDINA, MINN. — NAI Legacy has acquired the RH | Minneapolis – Gallery property in Edina for $25.5 million. In conjunction with the sale, Restoration Hardware leased back the property on a 20-year absolute net lease. Opened in September 2019, the store spans 58,000 square feet across three levels. A rooftop restaurant is housed on the third floor. A Delaware statutory trust controlled by NAI Legacy, and known as 6801 France DST, was used to acquire the asset. Edina-based Tradition Capital Bank provided mortgage financing. A Delaware statutory trust is an ownership model through a separate legal entity that allows co-investment among sponsors and investors.

August 3, 2020

Acquisitions Industrial Midwest Ohio

Reichle Klein Group Brokers $1.1M Sale of Industrial Building in Sylvania, Ohio

by Kristin Harlow August 3, 2020

SYLVANIA, OHIO — Reichle Klein Group has brokered the $1.1 million sale of an industrial building in Sylvania, which is located in northern Ohio near the Michigan border. The 3.8-acre property is situated at 3525 Silica Road. Lynette Reichle of Reichle Klein Group represented the buyer, Sylvania-based J-West LLC. The seller was undisclosed.

August 3, 2020

Acquisitions California Industrial Western

CenterPoint Properties Buys Last-Mile Distribution Facility in South Bay Area Near Los Angeles

by Amy Works August 3, 2020

GARDENA, CALIF. — CenterPoint Properties has purchased a distribution facility located at 230 W. Rosecrans Ave. in Gardena. Todd Kirshner of Punch Studio sold the asset for an undisclosed price. Situated on 3.22 acres in the South Bay region of Los Angeles County, the last-mile, 60,115-square-foot property features higher-than-market-average trailer parking, eight dock-high positions and immediate access to California’s freeway system, as well as excess yard space and port proximity.

August 3, 2020

Acquisitions Colorado Multifamily Western

Nexus Commercial Realty Negotiates $2.4M Sale of Multifamily Portfolio in Longmont, Colorado

by Amy Works August 3, 2020

LONGMONT, COLO. — Nexus Commercial Realty has arranged the sale of a two-building multifamily portfolio located in Longmont. An undisclosed buyer acquired the portfolio for $2.4 million. Located at 710 Emery St. and 1637 Kimbark St., the properties offer a total of 20 units in a mix of four two-bedroom units and 16 one-bedroom units. The buyer plans to install a new roof on the Kimbark property, as well as renovate and improve all units in both buildings. Brandon Kaufman and Nik MacCarter of Nexus represented the undisclosed seller, while Sean Holaman, also of Nexus, represented the buyer in the deal.

August 3, 2020

Acquisitions Office Texas

Colliers Arranges Sale of 174,147 SF Tower at Frisco Square Office Building

by Taylor Williams July 31, 2020

FRISCO, TEXAS — Colliers International has arranged the sale of Tower at Frisco Square, a 174,147-square-foot office building situated on 3.2 acres at 5757 Main St. in Frisco. Video game developer Gearbox Software is the anchor tenant of the five-story building, which was constructed in 2015 and has an adjacent five-level parking garage with additional ground-floor office and retail space. Dallas-based Encore Enterprises sold the property to Missouri-based REIT Maxus Realty Trust for an undisclosed price. Creighton Stark and Chris Boyd of Colliers brokered the deal.

July 31, 2020

Acquisitions Industrial Texas

TRECAP Management Buys Two Warehouses Totaling 31,750 SF in Houston

by Taylor Williams July 31, 2020

HOUSTON — Locally based investment firm TRECAP Management has purchased two warehouses totaling 31,750 square feet in Houston. The buildings are located at 12400 and 12402 Taylor Road and are fully leased to SRS Distribution Inc. Barrett Gibson and Jason Tangen of Colliers International represented the seller, H&B Development & Construction LP, as well as TRECAP Management in the transaction.

July 31, 2020

Acquisitions District of Columbia Multifamily Southeast

JLL Arranges $49M Sale of Multifamily Community in D.C.

by Alex Tostado July 31, 2020

WASHINGTON, D.C. — JLL has arranged the $49 million sale of The Shaw, an eight-story, 69-unit multifamily community in Washington, D.C.’s Shaw neighborhood. The property offers studio to four-bedroom floor plans. Communal amenities include a virtual front desk, a rooftop terrace and package lockers. Delivered this year, the asset is located at 618 T St. NW, one mile northeast of downtown Washington, D.C. Walter Coker, Brian Crivella and Robert Jenkins of JLL represented the seller, Monument Realty, in the transaction. A joint venture between Shimizu Realty Development Inc. and Capital Security Advisors LLC acquired the property in an all-cash deal.

July 31, 2020

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