Acquisitions

Interra Realty Brokers $9.5M Sale of Multifamily Building in Chicago

by Kristin Harlow July 27, 2020

CHICAGO — Interra Realty has brokered the sale of 943 N. Crosby St., a 27-unit multifamily rental building in Chicago’s River North neighborhood, for $9.5 million. Built in 2018, the property offers 21 one-bedroom units and six two-bedroom units. It also features one commercial space, which is home to Premium Cabinets of Chicago. Amenities include garage parking, bike storage and a rooftop deck with grilling area. Joe Smazal of Interra represented the buyer, Recon Properties LLC. Recon Management Services Inc. will assume management of the property. Metro Park LLC was the seller.

July 27, 2020

Acquisitions Indiana Midwest Retail

Thompson Thrift Sells Multi-Tenant Retail Building in Indiana for $2.2M

by Kristin Harlow July 27, 2020

TERRE HAUTE, IND. — Thompson Thrift Retail Group (TTRG) has sold a multi-tenant retail building in Terre Haute for $2.2 million. Birmingham, Ala.-based Sanders Capital Partners purchased the asset. Known as Honey Creek Pointe, the 7,871-square-foot building is fully leased to Five Guys, ATI Physical Therapy, Royal Nails and Sports Clips. TTRG completed development of the property in 2016. Carly Gallagher Kelly and Rick Drogosz of Mid-America Real Estate represented TTRG in the sale.

July 27, 2020

Acquisitions Industrial New Mexico Self-Storage Western

Dah Commercial Acquires 611-Unit Wagon Self Storage in Santa Fe

by Amy Works July 27, 2020

SANTA FE, N.M. — Dah Commercial has purchased Wagon Self Storage, located at 2 Emblem Road in Santa Fe, for an undisclosed price. The buyer has rebranded the self-storage facility as Mini U Storage. Originally built in 2009 and expanded in 2016, the property features 63,726 rentable square feet. The facility offers 611 climate-controlled units, recreational vehicle spaces and 42 wine storage units. The buyer is a national real estate investment and asset management company that has developed, acquired and/or managed more than $300 million of self-storage facilities. Adam Schlosser of Marcus & Millichap’s Denver office and Charles LeClaire of Marcus & Millichap’s LeClaire Group represented the seller, a local limited liability company, in the deal.

July 27, 2020

Acquisitions Florida Retail Southeast

CTO Realty Growth Sells Wawa Ground Lease in Jacksonville for $7.1M

by Alex Tostado July 24, 2020

JACKSONVILLE, FLA. — CTO Realty Growth has sold its ground lease of a Wawa convenience store in Jacksonville for $7.1 million, or a 4.9 percent cap rate. Wawa has 17 years remaining on the lease. The Dayton Beach, Fla.-based seller expects to use the proceeds to complete a future 1031 exchange. The buyer was not disclosed.

July 24, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 146-Unit Apartment Community in Metro Dallas

by Taylor Williams July 24, 2020

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of Ray Hubbard Ranch I and II, a 146-unit apartment community that is situated on 6.9 acres in the northeastern Dallas suburb of Garland. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity.

July 24, 2020

Acquisitions Healthcare Texas

JLL Negotiates Sale of 20,880 SF Medical Office Building in Lubbock

by Taylor Williams July 24, 2020

LUBBOCK, TEXAS — JLL has negotiated the sale of a 20,880-square-foot medical office building located at 3601 21st St. in Lubbock. The property was built in 1966, renovated in 2003 and is now fully leased to Covenant Health System. Nick Foster, Evan Kovac, Andrew Milne, Matt DiCesare and Michael George of JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute, in the transaction. The buyer was Los Angeles-based RealtyMogul.

July 24, 2020

Acquisitions Industrial Texas

Mohr Capital Sells 18,561 SF Industrial Property in Fort Worth

by Taylor Williams July 24, 2020

FORT WORTH, TEXAS — Dallas-based Mohr Capital has sold an 18,561-square-foot industrial property located at 490 Carey St. in Fort Worth. Mohr Capital developed the building in 2018 for HERC Rentals, which had 13 years remaining on its triple-net lease at the time of sale. Zach Harris and Brad Pepin of Stan Johnson Co. represented Mohr Capital in the transaction. A California-based investor purchased the asset via a 1031 exchange for an undisclosed price.

July 24, 2020

Acquisitions Hospitality Midwest Nebraska

Marcus & Millichap Arranges Sale of 129-Room La Quinta Hotel in Omaha

by Kristin Harlow July 24, 2020

OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 129-room La Quinta hotel in Omaha for an undisclosed price. Built in 1981, the two-story property is located at 3330 N. 104th Ave. Ebrahim Valliani, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a private investor. The team also secured and represented the buyer, a private investor.

July 24, 2020

Acquisitions Industrial Northeast Pennsylvania

Endurance, Thackeray Sell 240,358 SF Industrial Complex in Fairless Hills, Pennsylvania

by Taylor Williams July 24, 2020

FAIRLESS HILLS, PA. — A partnership between Pennsylvania-based Endurance Real Estate Group and Texas-based Thackeray Partners has sold Penn Logistics at Bucks, a 240,358-square-foot industrial complex in Fairless Hills, located in between Philadelphia and Trenton. The sales price was $18 million. The four-building property was built between 1968 and 1970 and features 24-foot clear heights, 42 dock doors and proximity to Interstates 295 and 95. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller and procured the undisclosed buyer in the transaction.

July 24, 2020

Acquisitions Industrial New Hampshire Northeast

Best Line Equipment Acquires Industrial Complex in Keyport, New Jersey for $5M

by Taylor Williams July 24, 2020

KEYPORT, N.J. — Pennsylvania-based automotive parts supplier Best Line Equipment has acquired a 73,468-square-foot industrial complex in Keyport, located in coastal New Jersey, for $5 million. The property spans 14 acres and offers proximity to the Garden State Parkway and Newark Liberty International Airport. The seller was Fragrance Resources Inc.

July 24, 2020

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