Acquisitions

JLL Arranges $6.2M Sale of New Industrial Facility in Northeast Kentucky

by Alex Tostado August 25, 2020

GRAYSON, KY. — JLL has arranged the $6.2 million sale of a new 25,000-square-foot industrial property double-net leased to Flowserve in Grayson. The seller, Houston-based Investment & Development Ventures LLC, delivered the asset as a build-to-suit for the company, which produces engineered and industrial pumps, seals and valves, as well as a range of related flow management services. The facility sits on three acres within EastPark, a 1,000-acre industrial park located approximately 25 miles from the Kentucky-Ohio-West Virginia border. Alex Sharrin, Trent Agnew, Brian Shanfeld, Jason DeWitt and Alex Geanakos of JLL represented the seller in the transaction. B.J. Feller, Isaiah Harf and Andy Gatchell of Stan Johnson Co. represented the buyer, an undisclosed family partnership based in Tulsa, Okla.

August 25, 2020

Acquisitions Industrial Midwest Wisconsin

Coldwell Banker Commercial Brokers $7.9M Sale of Manufacturing Facility in Janesville, Wisconsin

by Kristin Harlow August 25, 2020

JANESVILLE, WIS. — Coldwell Banker Commercial has brokered the $7.9 million sale of a 305,000-square-foot manufacturing facility in Janesville, approximately 40 miles southeast of Madison. The building is located at 2101 Kennedy Road within the Kennedy Road Industrial Park. Constructed in the 1960s, the facility features a clear height of 24 feet, six exterior docks, three drive-in doors and 65,000 square feet of office space. The building is leased to Hufcor, which designs and manufactures operable partitions. Borden Family Trust sold the building to Badger Property Investors. Bill Mears of Coldwell Banker Commercial McGuire Mears brokered the sale on behalf of both parties.

August 25, 2020

Acquisitions Colorado Multifamily Western

Hamilton Zanze Sells Highpointe Park Apartments in Thornton, Colorado for $53.6M

by Amy Works August 25, 2020

THORNTON, COLO. — Hamilton Zanze has completed the disposition of Highpointe Park, a multifamily property located at 9701 Pearl St. in Thornton. An undisclosed buyer acquired the property for $53.6 million. Built in 2013, Highpointe Park features eight buildings offering a total of 220 apartments in a mix of one-, two- and three-bedroom layouts. Situated on 7.9 acres and offering 206,896 rentable square feet, the community also offers a clubhouse, fitness center, yoga room, and swimming pool and spa, as well as open parking, carport and garage options for residents. David Potarf, Dan Woodward, Matt Barnett and Jake Young of CBRE Capital Markets in Denver represented the seller in the deal.

August 25, 2020

2300-Pellissier-Place-City-of-Industry-CA

Acquisitions California Industrial Western

Los Angeles Regional Food Bank Buys Industrial Building for $52.1M

by Amy Works August 25, 2020

CITY OF INDUSTRY, CALIF. — Los Angeles Regional Food Bank has purchased an industrial facility located at 2300 Pellissier Place in City of Industry, a suburb of Los Angeles. Haralambos Leasing Co. sold the asset for $52.1 million. The 255,878-square-foot property features a large fenced yard, ample parking, freeway frontage and a 24,836-square-foot office mezzanine. Situated in the heart of Los Angeles County, the building is located a half mile south of the intersection of the 60 and 605 freeways. John McMillan, Jeff Sanita, Danny Williams and Greg Stumm of Newmark Knight Frank represented the buyer, while an outside firm represented the seller in the transaction.

August 25, 2020

Acquisitions Industrial Washington Western

Kidder Mathews Arranges $28M Acquisition of Woodinville West Industrial Park Near Seattle

by Amy Works August 25, 2020

WOODINVILLE, WASH. — Kidder Mathews has arranged the purchase of Woodinville West, an industrial flex office park in Woodinville, a suburb 20 miles northeast of Seattle. An undisclosed private investor acquired the property from Woodinville West LLC for $28 million. Zach Vall-Spinosa of Kidder Mathews represented the buyer in the deal. Located at 16650, 16750, 16928 and 16932 Woodinville Redmond Road NE, the asset comprises four concrete and steel-framed buildings ranging in size from 21,345 square feet to 69,997 square feet. In total, the industrial flex office park offers 172,449 square feet of space.

August 25, 2020

Acquisitions Industrial Self-Storage Texas

Bellomy Brokers Sale of 235-Unit Self-Storage Facility in Spicewood, Texas

by Taylor Williams August 25, 2020

SPICEWOOD, TEXAS — Bellomy & Co. has brokered the sale of Spicewood Super Storage, a 235-unit self-storage facility located about 35 miles northwest of Austin. The property spans 89,260 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, Texas-based Envison2 Properties LLC, in the transaction. The duo also procured the buyer, Houston-based Spicewood Storage LLC.

August 25, 2020

Acquisitions Industrial NAI Texas

NAI Robert Lynn Arranges Sale of 65,000 SF Warehouse in Grand Prairie, Texas

by Taylor Williams August 25, 2020

GRAND PRAIRIE, TEXAS — NAI Robert Lynn has arranged the sale of a 65,000-square-foot warehouse located at 1205 E. Avenue H in Grand Prairie, roughly midway between Dallas and Fort Worth. Michael Stanzel of NAI Robert Lynn handled the transaction. The buyer and seller were not disclosed.

August 25, 2020

Acquisitions Retail Texas

Bright Realty Sells 6,667 SF Retail Property in Metro Fort Worth

by Taylor Williams August 25, 2020

BURLESON, TEXAS — Developer Bright Realty has sold a 6,667-square-foot retail property located at 264 SE John Jones Drive in the Fort Worth suburb of Burleson. The strip retail center was built in 2018 and was fully leased at the time of sale to Chicken Salad Chick, HotWorx and Mint Dentistry. Nick Miller and Britton Lankford of Bright Realty represented the firm internally in the transaction. Jordan Wood with Coldwell Banker represented the 1031 exchange buyer.

August 25, 2020

Acquisitions Colorado Development Industrial Western

Confluent Development, Bradbury Properties Sell Three Industrial Buildings at 100-Acre Highland Business Park in Denver

by Amy Works August 24, 2020

DENVER — Development partners Bradbury Properties and Confluent Development have completed the disposition of three newly constructed buildings within Highland Business Park, a 100-acre industrial campus in Denver. A separate account investor advised by Invesco acquired the assets for an undisclosed price. Delivered in June, the acquired properties are a 202,000-square-foot, built-to-suit distribution center, a 160,000-square-foot industrial building and a 130,000-square-foot facility. Ware Malcomb served as architect with Brinkmann Constructors as general contractor for the largest asset, while Intergroup Architects served as architect with Murray & Stafford as general contractor for the other two buildings. CBRE’s Jeremey Ballenger, Jim Bolt, Tyler Carner and Jessica Ostermick brokered the sale and are serving as leasing advisors for the three assets. Confluent and Bradbury began their partnership in 2016 with the Highland Building 5 project, then marking the fifth development within the business park. The partnership has now achieved full build-out of the business park, capping off its approximately $100 million venture.

August 24, 2020

Acquisitions Hospitality Western Wyoming

Waterton, Orion Cos. Acquire The Virginian Lodge in Jackson, Wyoming

by Amy Works August 24, 2020

JACKSON, WYO. — Chicago-based Waterton, as part of a joint venture with Jackson-based Orion Cos., has completed the acquisition of The Virginian Lodge and adjacent RV park, located at 750 W. Broadway in downtown Jackson. Built in the 1960s, the 170-key lodge will undergo a repositioning with renovations to rooms, amenities, common areas, retail spaces and food and beverage operations beginning in late 2020. The buyers plan to renovate and redesign the restaurant along with offering indoor/outdoor access via the property’s courtyard and soon-to-be upgraded pool and hot tub area. The repositioning plan also include the addition of five standalone camping units. The 13-acre site includes a main hotel building with 4,900-square-foot conference and event center, plus 2,600 square feet of retail space. Two adjacent buildings offer a 3,400-square-foot restaurant and 2,700 square feet of retail space. The property also includes a 103-stall RV park. OLS Hotels and Resorts/Springboard Hospitality will operate the hotel. New West Building Co. will serve as general contractor and a subsidiary of Orion Cos. will oversee construction. The acquisition price and redevelopment costs were not disclosed.

August 24, 2020

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