Acquisitions

29th Street Capital Acquires 308-Unit Live Oak Place Apartments Near San Antonio

by Taylor Williams September 11, 2020

LIVE OAK, TEXAS — 29th Street Capital (29SC) has acquired Live Oak Place Apartments, a 308-unit multifamily community located in the San Antonio suburb of Live Oak. Built in 1984, the property features studio, one- and two-bedroom units ranging in size from 408 to 857 square feet. Amenities include a pool, pet play area and onsite laundry facilities. 29SC will invest in capital improvements to the unit interiors, building exteriors and amenity spaces. The seller and sales price were not disclosed.

September 11, 2020

Acquisitions Illinois Midwest Retail

Cooper Group Arranges $3.3M Sale of Retail Center in North Aurora, Illinois

by Kristin Harlow September 11, 2020

NORTH AURORA, ILL. — Cooper Commercial Investment Group has arranged the sale of Clock Tower Plaza in North Aurora for $3.3 million. The 38,336-square-foot retail center is 60 percent occupied by tenants such as State Farm, Eddie’s Pizza & Pub and H&R Block. Bob Havasi and Dan Cooper of Cooper represented the buyer, an East Coast-based private investor completing a 1031 exchange. The seller was undisclosed.

September 11, 2020

Acquisitions Hospitality Iowa Midwest

Marcus & Millichap Brokers $1.6M Sale of Howard Johnson Hotel in Iowa

by Kristin Harlow September 11, 2020

BURLINGTON, IOWA — Marcus & Millichap has brokered the $1.6 million sale of a Howard Johnson hotel in Southeast Iowa’s Burlington. The 96-room property is located at 2759 Mt. Pleasant St. near the Catfish Bend Casino and Burlington Regional Airport. Ebrahim Valliani, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a limited liability company. The buyer information was undisclosed.

September 11, 2020

Acquisitions Connecticut Industrial Northeast

Pearce Commercial Arranges Sale of 26,000 SF Industrial Facility in Branford, Connecticut

by Taylor Williams September 11, 2020

BRANFORD, CONN. — Locally based brokerage firm Pearce Commercial Real Estate has arranged the sale of a 26,000-square-foot industrial facility in Branford for $1.4 million. Carl Russell of Pearce Commercial represented the seller, IBE LLC, in the transaction. Michael Richetelli of Colonial Properties represented the buyer, MAMSCO Construction Supply LLC.

September 11, 2020

Acquisitions Georgia Retail Southeast

Marcus & Millichap Negotiates $2.3M Sale of CVS-Anchored Retail Property in Metro Atlanta

by Alex Tostado September 11, 2020

LILBURN, GA. — Marcus & Millichap has negotiated the $2.3 million sale of a 13,375-square-foot retail property in Lilburn. CVS/pharmacy anchors the three-tenant asset, which was also leased to Lee Nails and Domino’s Pizza at the time of sale. The property is situated at 5575 Lawrenceville Highway, 18 miles northeast of downtown Atlanta. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, the Schwaighoffer Brothers, in the transaction. The buyer was Atlanta-based M&P Shopping Centers. “We generated seven offers in the first few days on the market,” says Taylor. “This activity was a clear illustration of the renewed desirability that essential tenants like drug stores currently demand.”

September 11, 2020

Acquisitions Industrial Self-Storage Utah Western

Towne Storage Sells 379-Unit Towne Storage Sandy Near Salt Lake City

by Amy Works September 11, 2020

SANDY, UTAH — Towne Storage has completed the disposition of Towne Storage Sandy, a self-storage facility located off Interstate 15 in Sandy, approximately 20 minutes south of downtown Salt Lake City. Terms of the transaction were not released. Storage…Etc. will rebrand and manage the 60,700-square-foot facility. Built in 1993 and 1997, the property features 379 rentable spaces ranging from 25 square feet to 400 square feet, a leasing office, gated access, digital video surveillance and an on-site manager. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

September 11, 2020

Acquisitions California Industrial Western

Colliers Negotiates Sale of 40,136 SF Industrial Property in Newark, California

by Amy Works September 11, 2020

NEWARK, CALIF. — Colliers International has arranged the sale of an industrial building located at 8484 Central Ave. in Newark. QQE Properties sold the asset to Atum Biotechnology for $8.8 million. Atum Biotechnology plans to convert the 40,136-square-foot building into lab and office space. The buyer is a provider of tools and solutions to life sciences researchers including gene design; optimization and synthesis; expression vectors; and platforms for protein and cellular engineering and production. Todd Severson of Colliers International represented the seller, while Brian Mason of Avison Young and Jeff Powers of Cushman & Wakefield represented the buyer in the transaction.

September 11, 2020

Acquisitions Multifamily Utah Western

Orchard Apartments Acquires 20-Unit Parkwood Apartments in Metro Salt Lake City

by Amy Works September 11, 2020

OGDEN, UTAH — Chicago-based Orchard Apartments has purchased Parkwood Apartments, a multifamily property located at 120 Dan St. in Ogden. Crapse Building One sold the property for close to the $3.3 million list price. Vicente Cantua of Cushman & Wakefield represented the seller in the deal. Parkwood Apartments features 20 two-bedroom units, 15 of which are two-bedroom/two-bath layouts and five are two-bedroom/one-bath floor plans. The property is 100 percent Section 8 housing with a 20-year Housing Assistance Payments contract that renewed in June.

September 11, 2020

Acquisitions Multifamily South Carolina Southeast Top Stories

Passco Acquires 330-Unit Multifamily Community in Coastal South Carolina for $78M

by Katie Sloan September 11, 2020

BLUFFTON, S.C. — Passco Cos. has acquired One Hampton Lake, a 330-unit multifamily community located seven miles outside Hilton Head Island in Bluffton, for $78 million. Southeastern Co. sold the property in an off-market transaction. One Hampton Lake was developed in two phases, with the first phase of construction completed in 2018 and the second phase completed earlier this year. The garden-style property offers one-, two- and three-bedroom units with quartz countertops, stainless steel appliances, in-unit washers and dryers, patios and balconies. Shared amenities at the community include a resort-style infinity pool and deck; kayak launch site and storage on Hampton Lake, located adjacent to the property; pet park and wash station; state-of-the-art fitness center; screened-in outdoor lounge with a fireplace; an outdoor kitchen; and grilling areas. Greystar will continue to manage the property under the new ownership. Chris Black and Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing on behalf of Passco. Headquartered in Augusta, Georgia, Southeastern Co. offers development, property management, construction management and brokerage services for commercial real estate properties across the Southeast. Irvine, California-based Passco Cos. acquires, develops and manages multifamily and commercial real estate throughout the United States. The company currently has a …

September 11, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 1,835-Unit Self-Storage Portfolio in East Texas

by Taylor Williams September 10, 2020

TYLER AND LONGVIEW, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of four self-storage properties totaling 1,835 units across 20.8 acres in East Texas. Two of the properties are located in Tyler, and two are located in Longview, cities that are about 100 and 120 miles east of Dallas, respectively. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. The buyer was Colorado-based Spartan Investment Group.

September 10, 2020

Newer Posts

Older Posts