Acquisitions

CapRocq Sells Mixed-Use Property in Rogers, Arkansas for $32.3M

by Alex Tostado May 28, 2020

ROGERS, ARK. — CapRocq Core 2 Real Estate Fund has sold Village on the Creeks, a 20-building, 220,153-square-foot retail and medical office complex in Rogers, for $32.3 million. The property was 93 percent leased to 66 tenants ranging from medical services to an art studio at the time of sale. The asset spans 22 acres along Interstate 49. The buyer was not disclosed, although the Northwest Arkansas Democrat Gazette reports the buyer is Ozre Capital. Kenai Capital Advisors and Colliers International | Arkansas represented the seller in the transaction.

May 28, 2020

Acquisitions Industrial Northeast Pennsylvania

NewAge Industries Acquires 46,618 SF Industrial Property in Warrington, Pennsylvania

by Alex Patton May 28, 2020

WARRINGTON, PA. — NewAge Industries Inc., a hose supplier headquartered in Southampton, Pennsylvania, has acquired a 46,618-square-foot industrial property in the northern Philadelphia suburb of Warrington. The one-story property is part of an industrial park located at 364 Valley Road. The property features 20-foot clear heights, five tailgate loading doors and approximately 3,000 square feet of office space. Andrew McGhee of Colliers International represented NewAge Industries in the transaction. Sean Durkin of Roddy Inc. represented the seller, 364 Valley Road LP

May 28, 2020

Acquisitions Connecticut Northeast Retail

Press | Cuozzo Brokers Sale of 7,800 SF Retail Building in Milford, Connecticut

by Alex Patton May 28, 2020

MILFORD, CONN. — Press | Cuozzo Commercial Services has brokered the sale of a retail building in Milford, a western suburb of New Haven. Located at 135 Cherry St., the property is part of Milford Plaza, a 182,000-square-foot shopping center. Amity Physical Therapy will lease the building for its fourth store. Stephen Press of Press | Cuozzo represented the seller, Hale Properties LLC, in the transaction. Press also procured the buyer, Dow Enterprises LLC. The sales price was undisclosed.

May 28, 2020

Acquisitions California Industrial Office Western

BLT Enterprises Sells Three-Building Sorrento Tech Campus in San Diego for $39M

by Amy Works May 28, 2020

SAN DIEGO, CALIF. — Santa Monica, Calif.-based BLT Enterprises has completed the disposition of Sorrento Tech Campus, a three-building creative office/R&D complex located in San Diego’s Sorrento Mesa submarket. Longfellow Real Estate Partners acquired the campus for $39 million. Located at 10070, 10140 and 10180 Barnes Canyon Road, the complex totals 83,480 square feet. BLT Enterprises implemented a repositioning plan of the original campus, which it acquired in 2016. The renovations included transforming 35,000 square feet of raw industrial space into innovative creative office product with an open floor plan, three executive offices, a large conference room, an upgraded kitchen and an outdoor patio. CV Sciences, TorreyCove Capital Partners, L3 Technologies and Ron’s Pharmacy fully occupied the complex at the time of sale. Ron Jacobson of SD Realty Partners, along with Rick Reeder and Brad Tecca of Cushman & Wakefield, completed the transaction on behalf of the buyer and seller.

May 28, 2020

Acquisitions Retail Texas

NewQuest Brokers Sale of 89,213 SF Inwood Forest Shopping Center in Houston

by Taylor Williams May 28, 2020

HOUSTON — Locally based firm NewQuest Properties has brokered the sale of Inwood Forest Shopping Center, an 89,213-square-foot retail center located at 5700-46 W. Little York Road in Houston. About 75 percent of the six-acre property’s tenant roster consists of businesses that have been deemed essential. Grocer La Michoacana anchors the center. David Luther, Bob Conwell and Josh Friedlander of NewQuest represented the seller, RPI Interests I Ltd., and procured the buyer, Fahra International Inc.

May 28, 2020

Acquisitions California Industrial Western

CenterPoint Properties Buys 7.9-Acre Last-Mile Facility in Union City, California

by Amy Works May 28, 2020

UNION CITY, CALIF. — CenterPoint Properties has acquired a 7.9-acre site, located at 950 Whipple Road in Union City, from Carter Industries for an undisclosed price. During due diligence, the company simultaneously executed a 10-year lease with an undisclosed company and secured a conditional use permit on behalf of the tenant. The site features a 63,000-square-foot building with 20-foot drive-in doors, 11-foot to 25-foot clear heights and two dock-high doors, as well as an oversized rear yard that can accommodate above-market auto parking. The asset is less than two miles from Interstate 880 and proximate to the San Mateo Bridge offering easy access to the San Francisco Bay area. Jon Cook of Townsend Commercial Real Estate brokered the off-market transaction. Matt Visick of Reuben, Junius & Rose LLP pursued and obtained the conditional use permit.

May 28, 2020

Acquisitions Indiana Industrial Midwest

JLL Arranges Sale of 690,702 SF Industrial Facility in Suburban Indianapolis

by Kristin Harlow May 28, 2020

BROWNSBURG, IND. — JLL Capital Markets has arranged the sale of Eaglepoint Six, a new Class A industrial facility totaling 690,702 square feet in Brownsburg, located about 17 miles northwest of Indianapolis. The building is fully leased to Radial Inc., an e-commerce company that provides order management, payment processing, fulfillment and analytics services. Built in 2019, Eaglepoint Six features a clear height of 36 feet, four drive-in doors, 52 dock-high doors and office space. It is part of the fully leased Eaglepoint Business Park. John Huguenard, Ed Halaburt, Jake Sturman, Sean Devaney, Kurt Sarbaugh and Robin Stolberg of JLL represented the seller, a partnership between Washington Capital Management on behalf of a client and Becknell Industrial. Denver-based Black Creek Group purchased the asset.

May 28, 2020

Acquisitions Alabama Retail Southeast

Marcus & Millichap Arranges $12.9M Sale of Walmart in Sylacauga, Alabama

by Alex Tostado May 27, 2020

SYLACAUGA, ALA. — Marcus & Millichap has arranged the $12.9 million sale of a 178,420-square-foot Walmart in Sylacauga. The property, which was built in 1996, is double net-leased to Walmart with 11 years remaining on the lease. The asset is located at 41301 U.S. Highway 280, 45 miles southwest of downtown Birmingham. Don McMinn of Marcus & Millichap’s Taylor McMinn Group represented both the buyer, Agree Development, and the seller, RP Payton Park LLC, in the transaction.

May 27, 2020

Acquisitions Industrial Texas

JLL Negotiates Sale of 618,052 SF Valwood Crossroads Industrial Park in Metro Dallas

by Taylor Williams May 27, 2020

CARROLLTON, TEXAS — JLL has negotiated the sale of Valwood Crossroads, a two-building, 618,052-square-foot industrial park located in the northern Dallas suburb of Carrollton. Built in 2019, the property features a cross-dock building and a rear-load building with clear heights ranging from 32 to 36 feet. Both buildings also feature deep truck courts and ESFR sprinkler systems, and are leased to Smith System Manufacturing Co., a provider of furniture for schools. Stephen Bailey and Dustin Volz of JLL represented the seller and developer, Atlanta-based Core5 Industrial Partners, in the transaction. Denver-based investment firm Black Creek Group purchased the asset for an undisclosed price.

May 27, 2020

Acquisitions New York Northeast Office

Habib American Bank Acquires Office Building in Manhattan for $28.2M

by Alex Patton May 27, 2020

NEW YORK CITY — Habib American Bank has acquired the Lord Memorial Building, a 32,270-square-foot office building in the Midtown East neighborhood of Manhattan, for $28.2 million. Located at 150 E. 45th St., the property includes approximately 5,168 square feet of retail space on the ground floor and 27,102 square feet of office space on the second through seventh floors. The building was constructed in 1950 for the seller, Children’s Aid Society, and later extended to seven stories in the mid-1960s. Children’s Aid occupied the building at the time of sale but will now vacate its space. Jonata Dayan of Co-op & Condo Sales and Brett Weiss of HSP Real Estate Group represented Habib in the transaction. Bob Knakal, Jonathan Hageman and Clint Olsen led a JLL team that represented Children’s Aid Society.

May 27, 2020

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