Acquisitions

Bellomy Brokers Sale of 501-Unit Self-Storage Property in Taylor, Texas

by Taylor Williams June 18, 2020

TAYLOR, TEXAS — Bellomy & Co. has brokered the sale of Taylor Hutto Self Storage, a 501-unit facility located in the Central Texas city of Taylor. The property features climate- and non-climate-controlled units, as well as covered boat and RV parking space. The facility spans 60,605 square feet of net rentable space and was 86 percent leased at the time of sale. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, an unnamed company based in Plainfield, Ill., in the sale. The buyer was not disclosed.

June 18, 2020

Acquisitions Arizona Retail Western

NKF Arranges Sales of Three Retail Buildings in Arizona

by Amy Works June 18, 2020

PHOENIX AND MESA, ARIZ. — Newmark Knight Frank (NKF) has brokered the sales of three retail properties totaling 48,188 square feet in Phoenix and Mesa. The properties include Don Carlos Plaza, located at 2651-2667 W. Baseline Road in Mesa; Meineke, located at 2056 W. Southern Ave. in Mesa; and Fairway Plaza, located at 5843 W. Indian School Road in Phoenix. Terms of the transactions were not released. Chase Dorsett, Steve Julius and Jesse Goldsmith of NKF represented the sellers for the Don Carlos Plaza and Meineke deals and both parties at Fairway Plaza.

June 18, 2020

Acquisitions California Retail Western

Atlas Properties Negotiates $9.9M Acquisition of Cardenas Grocery in Victorville, California

by Amy Works June 18, 2020

VICTORVILLE, CALIF. — A private Orange County, Calif.-based developer has completed the disposition of a retail property located at 14528 Palmdale Road in Victorville. A private 1031-exchange investor acquired the building for $9.9 million. Cardenas, a Hispanic grocery store, occupies the asset. Bill Bauman, Kyle Miller, Michael Fogel and Matt Schwartz of Newmark Knight Frank represented the seller, while Ed Barkett of Atlas Properties represented the buyer in the deal.

June 18, 2020

Acquisitions Industrial Oregon Western

Norris & Stevens Brokers $2.6M Sale of Industrial Asset in Metro Portland

by Amy Works June 18, 2020

NEWBERG, ORE. — Portland, Ore.-based Norris & Stevens has brokered the sale of an industrial building located at 2751 NE Wynooski St. in Newberg, approximately 30 miles southwest of Portland. The buyer, 2751 Wynooski Street LLC, acquired the property for $2.6 million. Oregon Mattress, a mattress manufacturing business, formerly occupied the 31,265-square-foot property, which is situated on 1.7 acres. The buyer plans to occupy the asset for its business, Southtown Glass. Todd VanDomelen of Norris & Stevens represented the sellers, Thomas A. Walker, Melissa A. Walker, David R. Walker and Judy Walker, in the transaction. Mike Mosar of Mosar Commercial Properties represented the buyer.

June 18, 2020

Acquisitions Industrial New Jersey Northeast

BentallGreenOak Acquires Industrial Facility in Franklin, New Jersey, for $164M

by Alex Patton June 17, 2020

FRANKLIN, N.J. — Canadian developer BentallGreenOak has acquired a 925,000-square-foot industrial facility in Franklin, approximately 50 miles northwest of New York City. Located at 50 Veronica Ave., the facility was fully leased to LG Electronics USA at the time of sale. The building features a clear height of 40 feet, 170 trailer parking spots, 159 dock positions, four drive-in ramps and 394 car spaces. It offers convenient access to the New Jersey Turnpike and Interstate 287. LG Electronics USA signed a seven-year lease of the entire building in April. Gary Gabriel, Andrew Merin and Kyle Schmidt of Cushman & Wakefield represented the seller, a partnership between Crow Holdings Industrial and The Carlyle Group, in the transaction.

June 17, 2020

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Brokers $25.3M Sale of Multifamily Building in Weehawken, New Jersey

by Alex Patton June 17, 2020

WEEHAWKEN, N.J. — Gebroe-Hammer Associates has brokered the $25.3 million sale of Hamilton House, a 99-unit multifamily property in Weehawken, just west of Manhattan. Located at 700 John F. Kennedy Blvd. East, the 12-story building was constructed in 1964 and offers a mix of 21 studio, 59 one- and 19 two-bedroom layouts. Ken Uranowitz and Niko Nicolaou of Gebroe-Hammer represented the seller, Hamilton House LLC, in the transaction. The team also procured the buyer, Tuli Realty LLC.

June 17, 2020

Acquisitions Multifamily Texas

Banyan Residential, Marble Capital Acquire Lofts at the Ballpark in Downtown Houston

by John Nelson June 17, 2020

HOUSTON — Banyan Residential and financial partner Marble Capital have purchased Lofts at the Ballpark, a 375-unit apartment community located one block from Minute Maid Park and BBVA Stadium in downtown Houston. Built in 2001 by Houston-based Hanover Co., the four-story building is located at 610 Saint Emanuel St. and features one- and two-bedroom floor plans. Community amenities include a 24-hour business center, grills, spin room, game room, internet café with a coffee bar, movie theater and two swimming pools and sundecks. Lofts at the Ballpark is the first acquisition in the Houston market for Los Angeles-based Banyan Residential. The seller and sales price were not disclosed.

June 17, 2020

Acquisitions Healthcare North Carolina Office Southeast

Flagship Healthcare Purchases Three Medical Office Buildings Totaling 88,000 SF in Hickory, North Carolina

by Alex Tostado June 17, 2020

HICKORY, N.C. — Flagship Healthcare Properties has purchased three medical office buildings totaling 88,000 square feet in Hickory. The buildings were 96 percent leased at the time of sale to tenants including the Veteran’s Administration Hickory Outpatient Clinic (25,920 square feet), A Woman’s View (20,470 square feet) and practices associated with Frye Regional Medical Center (19,923 square feet). The VA is located at 2440 Century Place SE, 50 miles north of downtown Charlotte. A Woman’s View is located at 915 Tate Blvd. SE, and Frye Regional Medical Center is situated at 420 N. Center St. Flagship Healthcare will provide property management services at the Hickory portfolio. First Horizon Bank provided acquisition financing. The seller(s) and sales price were not disclosed.

June 17, 2020

Acquisitions California Net Lease Office Western

IRA Capital Purchases Element Office Campus in Aliso Viejo for $73.5M

by Amy Works June 17, 2020

ALISO VIEJO, CALIF. — IRA Capital has acquired Element, a corporate office campus located at 26600, 26650 and 26700 Aliso Viejo Parkway in Aliso Viejo. A joint venture between CrossHarbor Capital Partners and Waterford Property Co. sold the asset for $73.5 million. The buyer purchased the property through its joint venture with a Middle East-based capital partner. Consisting of three two-story buildings, the asset offers 160,000 square feet of office space. In 2019, Glaukos Corp., a publicly traded ophthalmic medical technology and pharmaceutical company, signed a 13-year, triple-net lease to occupy the property for its corporate and R&D headquarters. Additionally, the company purchased excess land surrounding the building for future development and expansion. Bryon Foss, Nick Cary and Curtis Ellmore of JLL, along with Kevin Shannon, Paul Jones, Ken White and Brandon White of Newmark Knight Frank’s Capital Markets team, represented the seller in the transaction.

June 17, 2020

Acquisitions California Net Lease Retail Western

NKF, Highland Partners Negotiate $14M Sale of Single-Tenant Retail Property in Hawthorne, California

by Amy Works June 17, 2020

HAWTHORNE, CALIF. — Newmark Knight Frank (NKF) and Highland Partners have arranged the sale of a retail building located at 14351 Hindry Ave. in Hawthorne. A private family office acquired the property from Hawthorne Gateway, a private Los Angeles-based partnership, for $14 million. Bed, Bath & Beyond occupies the property. Bill Bauman, Kyle Miller, Michael Fogel and Matt Schwartz of NKF and Michael Grannis of Highland Partners represented the seller in the transaction.

June 17, 2020

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