Acquisitions

NAI DiLeo-Bram Brokers Sale of 7,690 SF Retail, Office Property in Roselle, New Jersey

by Alex Patton May 27, 2020

ROSELLE, N.J. — NAI DiLeo-Bram & Co., has brokered the sale of a 7,690-square-foot retail and office property in Roselle, a southwestern suburb of New York City. Located at 111-117 West Second Ave., the property offers convenient access to the Garden State Parkway and the Roselle Park transit station. The building was leased to three retail tenants and one office tenant at the time of sale, and the new buyer plans to reposition the building for residential use. Marc Shein and Matthew DiLeo of NAI DiLeo-Bram represented the seller and procured the buyer in the transaction. Both parties were undisclosed.

May 27, 2020

Acquisitions Affordable Housing Iowa Midwest Multifamily

Affordable Housing Investment Brokerage Negotiates $2.8M Sale of Two Communities in Iowa

by Kristin Harlow May 27, 2020

WATERLOO, IOWA — Affordable Housing Investment Brokerage Inc. has negotiated the sale of two adjacent multifamily communities in Waterloo for $2.8 million. Mt. Carmel is a 13-building property totaling 50 units. It was originally built in 1980. Mt. Village is an eight-building property totaling 30 units that was built in 1992. Kyle Shoemaker and Dan Piatkowski of Affordable Housing Investment Brokerage represented both parties in the sale. A nonprofit organization purchased the communities from a private investor.

May 27, 2020

Acquisitions Industrial Midwest Ohio

NAI Pleasant Valley Arranges Sale of 31,237 SF Industrial Building in Ohio

by Kristin Harlow May 27, 2020

STREETSBORO, OHIO — NAI Pleasant Valley has arranged the sale of a 31,237-square-foot industrial building in Streetsboro, about 30 miles south of Cleveland. The sales price and seller were undisclosed. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented both parties in the sale. Natural Essentials Inc., a manufacturer of hand sanitizer and various over-the-counter drug products, was the buyer. This is the Aurora, Ohio-based company’s fourth building.

May 27, 2020

Acquisitions California Industrial Western

Empire State Group Acquires Modernized R&D Facility in Silicon Valley for $41.1M

by Amy Works May 27, 2020

MILPITAS, CALIF. — New York City-based Empire State Group has purchased a fully leased R&D facility, located at 1564 Barber Lane in Milpitas. A joint venture between affiliates of Westport Capital Partners and Cannae Partners sold the asset for $41.1 million. Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets group represented the buyer and seller in the deal. Situated on 5.5 acres within Oak Creek Business Park, the asset features 102,668 square feet of research and development space. The facility was originally developed in 1980, but underwent significant improvements in 1996, 2009 and 2019.

May 27, 2020

Acquisitions Industrial Net Lease Utah Western

Monmouth Real Estate Buys Industrial Building in Ogden, Utah for $12.9M

by Amy Works May 27, 2020

OGDEN, UTAH — Monmouth Real Estate Investment Corp. has purchased a LEED-certified industrial property, located at 985 W. Kershaw St. in Ogden, for $12.9 million. The name of the seller was not released. Federal Express Corp., a Delaware corporation, occupies the asset on a 15-year, net-lease basis. The 69,734-square-foot industrial property is situated on 7.5 acres.

May 27, 2020

Acquisitions Colorado Industrial Western

CBRE Arranges $7.1M Sale of Serta Distribution Center in Metro Denver

by Amy Works May 27, 2020

AURORA, COLO. — CBRE has negotiated the sale of a distribution facility located at 15800 E. 40th Ave. in Aurora, about 10 miles east of Denver. Serta Simmons Bedding sold the property to Dallas-based Dalfen Industrial for $7.1 million. Built in 2003 for Serta’s own operations, the 75,000-square-foot building features a fenced, secure loading area, ESFR sprinklers, dock-high and drive-in loading, 24-foot clear heights, radiant heat throughout, mechanical pit levelers, dock lights and seals, skylights and an air exchange system. Additionally, the facility features 6,500 square feet of office space. Todd Witty and Doug Viseur of CBRE’s Denver office represented the seller in the transaction.

May 27, 2020

Acquisitions Colorado Multifamily Seniors Housing Western

Blueprint Brokers Sale of Three Skilled Nursing Facilities in Colorado

by Amy Works May 27, 2020

DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities in the Denver metro area and a third in Eastern Colorado. The portfolio totals 250 skilled nursing beds, as well as 25 assisted living units. LTC Properties sold the assets as part of its plan to divest all its Preferred Care-branded communities. The buyer is a private company looking to expand its presence in Colorado, as well as its relationships with its third-party operators in the state. The price was not disclosed.

May 27, 2020

Acquisitions Florida Office Southeast

MHC, Waterfall Asset Management Acquire South Florida Office Complex for $49.8M

by Alex Tostado May 26, 2020

PALM BEACH GARDENS, FLA. — MHCommercial Real Estate Fund LLC (MHC) and Waterfall Asset Management have acquired Golden Bear Plaza, a 243,000-square-foot office complex in Palm Beach Gardens, for $49.8 million. The three-building campus was 90 percent leased to tenants including AT&T, Otis Elevator Co., Pike Electric, Dycom Industries, NextEra Energy, SlimFast and Zimmer Biomet 3i at the time of sale. M&T Bank provided acquisition financing for the buyers. This is the first office acquisition in Florida for Waterfall Asset Management, which is based in New York City. Dung Lam, Neil Merin and Jordan Paul of West Palm Beach, Fla.-based NAI/Merin Hunter Codman Inc. formed MHC in November. NAI/Merin Hunter Codman will provide property and leasing management. The seller was not disclosed. Nicklaus Cos. LLC, a development company headed by Hall of Fame golfer Jack Nicklaus (whose nickname is Golden Bear), originally built the campus between 1985 and 1990.

May 26, 2020

Acquisitions Florida Office Retail Southeast

JLL Negotiates $46.8M Sale of Whole Foods-Anchored Property in Metro Miami

by Alex Tostado May 26, 2020

CORAL GABLES, FLA. — JLL has negotiated the $46.8 million sale of Plaza San Remo, a 59,694-square-foot mixed-use property in Coral Gables. Whole Foods Market occupies the ground floor of the seven-story property. Built in 2007, the building was fully leased at the time of sale to tenants including Pediatric Associates and OXXO Care Cleaners and also features a seven-story parking garage. Danny Finkle, Luis Castillo and Eric Williams of JLL represented the seller, an undisclosed institutional investment advisor, in the transaction. The buyer was a core fund advised by Zurich Alternative Asset Management LLC.

May 26, 2020

Acquisitions Arkansas Retail Southeast

SRS Arranges $4M Sale of Retail Property in North Little Rock, Arkansas

by Alex Tostado May 26, 2020

NORTH LITTLE ROCK, ARK. — SRS Real Estate Partners National Net Lease Group has arranged the $4 million sale of an 8,000-square-foot retail property in North Little Rock. The property is fully leased to Vitamin Shoppe and Mattress Firm on their respective corporate-guaranteed triple-net leases. The property is situated at 4300 McCain Blvd., seven miles north of downtown Little Rock. The asset is an outparcel to a Lowe’s Home Improvement-anchored shopping center. Brian Wolfman of SRS represented the seller, Los Angeles-based McCain Plaza LLC, in the transaction. Aaron Hines of Marcus & Millichap represented the buyer, New Mexico-based G&T Investments LLC, which was completing a 1031 exchange. Tyler Johnson of Pegasus Capital Markets represented the buyer in sourcing acquisition financing.

May 26, 2020

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