Acquisitions

BLT Enterprises Acquires Industrial Life Sciences Facility in Southern California for $40.4M

by Amy Works July 16, 2020

CARLSBAD, CALIF. — BLT Enterprises has purchased an industrial life sciences property located at 2827 Whiptail Loop West in Carlsbad. RPG sold the asset for $40.4 million. Completed in 2019, the 146,100-square-foot property features 30-foot clear heights, eight dock-high doors, four grade-level doors, 4,000 amps of power, Grade B, C, D classification clean rooms, a dedicated lab exhaust system, a vacuum pump system and a PH neutralization system. SAFC Carlsbad Inc. fully occupies the property. The tenant is a subsidiary of Merck KGaA, a multinational pharmaceutical, life sciences, research and development company headquartered in Darmstadt, Germany.

July 16, 2020

Acquisitions Arizona Multifamily Western

CORE Real Estate Capital, Rincon Capital Partners Buy Woodridge Apartments in Tucson

by Amy Works July 16, 2020

TUCSON, ARIZ. — CORE Real Estate Capital and Rincon Capital Partners have acquired Woodridge Apartments, a multifamily property located at 8225 E. Speedway Blvd. in Tucson. Terms of the transaction were not released. Built in 1981 on 6.2 acres, the community features 204 apartments. At the time of sale, the property was more than 95 percent occupied. Over the next two years, the new owners plan to rebrand the property and invest up to $3.6 million to remediate deferred maintenance, renovate common areas, upgrade interiors and improve landscaping.

July 16, 2020

Acquisitions Colorado Net Lease Retail Western

Stan Johnson Arranges $2.4M Sale of Childhood Education Facility in Littleton, Colorado

by Amy Works July 16, 2020

LITTLETON, COLO. — Stan Johnson Co. has brokered the sale of a retail property located at 6000 Grant Ranch Blvd. in Littleton. A California- and Colorado-based family partnership sold the property to BAF Associates, a Maryland-based private investor, for $2.4 million. Knowledge Beginnings, one of several brands under the KinderCare Education group, occupies the single-tenant, 10,400-square-foot property on a net-lease basis. Kelly Largent of Stan Johnson Co. represented the buyer, while Mike Matter and Milo Spector of Stan Johnson Co. represented the seller in the transaction.

July 16, 2020

41800-W-Maricopa-Casa-Grande-Hwy-Maricopa-AZ

Acquisitions Arizona Net Lease Retail Western

Marcus & Millichap Brokers $2.1M Sale of Big 5 Sporting Goods-Occupied Retail Building in Arizona

by Amy Works July 16, 2020

MARICOPA, ARIZ. — Marcus & Millichap has arranged the sale of a retail property located at 41800 W. Maricopa-Casa Grande Highway in Maricopa. A limited liability company sold the building to undisclosed buyer for $2.1 million. Big 5 Sporting Goods occupies the property on a net-leased basis. Mark Ruble, Chris Lind and Jamie Medress of Marcus & Millichap represented the seller in the deal.

July 16, 2020

Acquisitions Georgia Multifamily Southeast

Fogelman Properties, DRA Advisors Acquire 334-Unit Multifamily Community in Metro Atlanta

by Alex Tostado July 16, 2020

LITHIA SPRINGS, GA. — A joint venture between Fogelman Properties and DRA Advisors has acquired Fields Waterford Point, a 334-unit multifamily community in Lithia Springs. The buyer plans to renovate all unit interiors and communal spaces, as well as rebrand the property as 670 Thornton. The property offers one-, two- and three-bedroom floor plans with rents ranging from $750 per month to $1,300. Communal amenities include a business center, pool, tennis court, pond and a fitness center. The asset, which was built between 1989 and 1992, is located at 670 Thornton Road, 15 miles west of downtown Atlanta. The seller and sales price were not disclosed.

July 16, 2020

Acquisitions Indiana Midwest Multifamily

Birge & Held Acquires 348-Unit Apartment Property in Noblesville, Indiana

by Kristin Harlow July 16, 2020

NOBLESVILLE, IND. — Birge & Held has acquired Northlake Village in Noblesville for an undisclosed price. The 348-unit apartment property is located at 1100 Northlake Drive near I-69. The community has undergone interior renovations for 273 of its 348 units. Renovations to the clubhouse and leasing office have also been completed and an outdoor kitchen has been added. Steve LaMotte Jr., Dane Wilson and Alex Possick of CBRE represented the seller, Buckingham Cos.

July 16, 2020

Acquisitions Multifamily Texas

Atlantic | Pacific Acquires 378-Unit Mira Loma Apartments Near San Antonio

by Taylor Williams July 16, 2020

LIVE OAK, TEXAS — Miami-based Atlantic | Pacific Cos. has acquired Mira Loma Apartments, a 378-unit multifamily community located in Live Oak, a northeastern suburb of San Antonio. Built in 2008, the property features one-, two- and three-bedroom units ranging in size from 628 to 1,364 square feet. Amenities include a pool, outdoor kitchen, 24-hour fitness center and an indoor basketball court. Atlantic Pacific acquired the asset through its Blue Atlantic Partners Fund III, a private equity fund. The seller was not disclosed.

July 16, 2020

Acquisitions Multifamily New York Northeast

Cushman & Wakefield Arranges Sale of 121,188 SF Residential Development Site in The Bronx

by Taylor Williams July 16, 2020

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a 121,188-square-foot residential development site in the Fieldston neighborhood of The Bronx. The property sold for $7.9 million, or $114 per buildable square foot. The site is zoned for the development of nearly 70,000 square feet of above-grade residential space and roughly 52,000 square feet of space for a community facility and parking garage. Jonathan Squires and Addison Berniker of Cushman & Wakefield represented the undisclosed seller in the transaction.

July 16, 2020

Acquisitions Northeast Pennsylvania Retail

Adler Realty Acquires 67,215 SF Bensalem Crossing Retail Center Near Philadelphia

by Taylor Williams July 16, 2020

BENSALEM, PA. — California-based Adler Realty Investments Inc. has acquired Bensalem Crossing, a 67,215-square-foot retail center located on the northeastern outskirts of Philadelphia, for $11.5 million. The center is leased to three tenants: anchor and grocer ShopRite, CVS and a wireless telecommunications provider. Jim Galbally, Chris Munley and Colin Behr of JLL represented the New York City-based seller in the transaction. Chad Orcutt, Brian Halpern and Mike Pagniucci of JLL arranged $7.1 million in acquisition financing on behalf of Adler Realty.

July 16, 2020

211-Benigno-Boulevard-Bellmawr-New-Jersey

Acquisitions New Jersey Northeast Office

Yada Property Management Buys 40,000 SF Office Property in Bellmawr, New Jersey

by Taylor Williams July 16, 2020

BELLMAWR, N.J. — New Jersey-based Yada Property Management has purchased a 40,000-square-foot office property in Bellmawr, a southern suburb of Philadelphia. The two-story building is located at 211 Benigno Blvd. within Interstate Business Park, a 40-building office and industrial development that houses large corporate users such as Amazon, FedEx and Singer Equipment Co. Scott Mertz of NAI Mertz represented the seller, Choice Services International LLC, in the transaction.

July 16, 2020

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