Acquisitions

NAI Capital Arranges $11.6M Sale of Office Building in Vernon, California

by Amy Works July 29, 2020

VERNON, CALIF. — NAI Capital has negotiated the sale of an office property located at 3375 E. Slauson Ave. in Vernon. An undisclosed buyer acquired the building for $11.6 million, or $294 per square foot. Built in 2006 on a 77,389-square-foot lot, the two-story building features 39,409 square feet of flex office space. The property features a high-end corporate office build-out, two passenger/freight elevators, a secured parking lot, full kitchen with lunch room and a training room. Philip Attalla, David Moore and Amber Leigh with NAI Capital represented the undisclosed seller in the deal.

July 29, 2020

Acquisitions Colorado Industrial Retail Western

ATE Ventures Sells 8,000 SF Cannabis Retail, Industrial Property in Denver for $1.4M

by Amy Works July 29, 2020

DENVER — ATE Ventures has completed the sale of a flex property located at 3819 Quentin St. in Denver. An undisclosed buyer acquired the building as an investment asset for $1.4 million. A local medical marijuana dispensary and cannabis grow operation occupies the 8,000-square-foot facility, which is situated on a half-acre lot. Greg Knott of Unique Properties/TNC Worldwide represented the seller, while Brian Basham of Basham Commercial represented the buyer in the deal.

July 29, 2020

Acquisitions Industrial Southeast Tennessee

RealOp Investments Acquires 817,274 SF Industrial Property in Memphis

by Alex Tostado July 28, 2020

MEMPHIS, TENN. — RealOp Investments has acquired Southwind Distribution Center, an 817,274-square-foot industrial property in Memphis. The property is situated at 8400 Winchester Road across the street from the FedEx World Headquarters and 13 miles east of Memphis International Airport. The property was vacant at the time of sale, with Nike Inc. being the previous tenant. The Greenville, S.C.-based buyer is planning to upgrade the interior of the building, paint the exterior, upgrade the ESFR sprinklers system and modernize the lighting. Johnny Lamberson and Terry Radford of CBRE represented the undisclosed seller in the transaction. Patrick Walton of CBRE will lease the property on behalf of the new owner. The sales price was not disclosed.

July 28, 2020

Acquisitions Alabama Multifamily Southeast

Cushman & Wakefield Arranges $26.5M Sale of Multifamily Community in Prattville, Alabama

by Alex Tostado July 28, 2020

PRATTVILLE, ALA. — Cushman & Wakefield has arranged the $26.5 million sale of Prattville at Highland Lakes, a 224-unit multifamily community in Prattville. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a fitness center, spa, pool, sundeck, tennis court and a playground. The community is situated at 1908 Briarwood St., 10 miles northwest of downtown Montgomery. Craig Hey and Jimmy Adams of Cushman & Wakefield represented the seller, Blue Magma Residential, in the transaction. Morrison Avenue Capital Partners acquired the property, which was built in 2001.

July 28, 2020

Acquisitions Georgia Retail Southeast

RVI Sells Lowe’s Home Improvement Store Near Atlanta for $15.6M

by Alex Tostado July 28, 2020

NEWNAN, GA. — Retail Value Inc. (RVI) has sold a Lowe’s Home Improvement store in Newnan for $15.6 million to an undisclosed buyer. The property is situated at 955 Bullsboro Drive, 35 miles southwest of downtown Atlanta. Lowe’s shadow anchors Newnan Crossing, which RVI sold to Halpern Enterprises for $11.6 million in January. Tenants at Newnan Crossing include Hobby Lobby, GNC, American Deli, Metro by T-Mobile, Sally Beauty and Edible Arrangements.

July 28, 2020

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Arranges Sale of 35,154 SF Industrial Building in Mesquite, Texas

by Taylor Williams July 28, 2020

MESQUITE, TEXAS — Lee & Associates has arranged the sale of a 35,154-square-foot industrial building located at 2027 Presidential Row in the eastern Dallas suburb of Mesquite. An undisclosed owner-operator purchased the building, which was originally constructed in 1982. Taylor Stell and Brett Lewis of Lee & Associates brokered the deal.

July 28, 2020

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 1,875 SF Retail Property in Sugar Land, Texas

by Taylor Williams July 28, 2020

SUGAR LAND, TEXAS — Marcus & Millichap has brokered the sale of a 1,875-square-foot retail property in the southwestern Houston suburb of Sugar Land that is net-leased to Starbucks Coffee. Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, an out-of-state private investor, in the transaction. The duo also procured the locally based buyer. Both parties requested anonymity.

July 28, 2020

Acquisitions Loans Nevada Office Western

Moonwater Capital Receives $35M in Equity for Purchase of NV Energy Pearson Office Building in Las Vegas

by Amy Works July 28, 2020

LAS VEGAS — Los Angeles-based Dekel Capital has arranged $35 million in debt equity on behalf of Moonwater Capital for its acquisition of the NV Energy Pearson Building, an office building in Las Vegas. Located at 6226 W. Sahara Ave., the four-story property features 262,000 square feet of office space. NV Energy has been the sole tenant of the corporate headquarters building since it was constructed in 1983. The public utility, wholly owned by Berkshire Hathaway Energy, provides a wide range of services throughout the state of Nevada. In additional to raising joint venture equity for the Las Vegas-based borrower, Dekel arranged $23.8 million in long-term, fixed-rate, first mortgage debt from a West Coast-based regional bank. The borrower acquired the property as a core-plus asset to add to its office portfolio in the Las Vegas market, which totals approximately 700,000 square feet of commercial office space.

July 28, 2020

Acquisitions California Office Western

Colony Capital Sells Commerce Square Business Park in Riverside, California for $14M

by Amy Works July 28, 2020

RIVERSIDE, CALIF. — Colony Capital has divested of Commerce Square Business Park, a four-building office portfolio located at 1550 Marlborough Ave. and 1737, 1777 and 1989 Atlanta Ave. in Riverside. An undisclosed buyer acquired the asset for just over $14 million. At the time of sale, the 128,912-square-foot business park was 90 percent leased to 14 tenants ranging in size from 1,395 square feet to 23,000 square feet. Tenants include Level 3 Communications (Century Link), T-Mobile, Honeywell International and the State of California. Kevin Shannon, Ken White, Sean Fulp, Scott Schumacher and Ryan Plummer of Newmark Knight Frank represented the seller. The buyer was self-represented in the transaction.

July 28, 2020

Acquisitions California Industrial Western

Overton Moore Properties Buys 118,056 SF Industrial Building in Lathrop, California

by Amy Works July 28, 2020

LATHROP, CALIF. — Overton Moore Properties, in a joint venture with Invesco Real Estate, has acquired a single-tenant industrial facility located at 18231 Murphy Parkway in Lathrop. Terms of the transaction were not released. Situated on 11 acres, the 118,056-square-foot property is fully leased to Simwon America Corp., a Tier 1 supplier of Tesla. The buyer plans to expand the current building by approximately 80,000 square feet for Simwon’s growing manufacturing demands. Mike Goldstein and Ryan McShane of Colliers International, Stockton/Central Valley office, represented the buyer and undisclosed seller in the deal.

July 28, 2020

Newer Posts

Older Posts