Acquisitions

Yorba-Linda-Business-Center-Yorba-Linda-CA

Avison Young Negotiates Acquisition of 115,760 SF Yorba Linda Business Center

by Amy Works April 10, 2020

YORBA LINDA, CALIF. — Avison Young has arranged the purchase of Yorba Linda Business Center, a four-building industrial asset located in Yorba Linda. An Orange County-based private investor acquired the property from a Bay Area-based investment company for an undisclosed price. Built in 1998 on 9.1 acres, the 115,760-square-foot Yorba Linda Business Center features 14-foot clear heights, 66 ground-level doors and 400 car parking spaces. At the time of sale, the asset was 93 percent occupied by a diverse mix of industrial, office and flex users. Alan Pekarcik and Chris Smith of Avison Young represented the buyer, while CBRE represented the seller in transaction.

April 10, 2020

Acquisitions Colorado Multifamily Western

CBRE Brokers $12.2M Sale of Three-Property Multifamily Portfolio in Denver

by Amy Works April 10, 2020

DENVER — CBRE has negotiated the sale of a three-property multifamily portfolio located in Denver’s Cheesman Park and Congress Park neighborhoods. A local investment group purchased the portfolio from a local private investor for $12.2 million. The asset includes the 27-unit Park Lafayette at 950 Lafayette St., the 12-unit 1120 York at 1120 York St. and the 12-unit 1136 York located at 1136 York St. The buyer plans to renovate the few remaining unrenovated units and update the common areas of the 51-unit, 31,280-square-foot portfolio. Select units in Park Lafayette offer premium finishes, including quartz countertops, new cabinets, stainless steel appliances and plank flooring. The property also has a pool, lounge area with a gas firepit and barbecue grill. Robert Bratley of CBRE’s Denver office represented the seller in the deal.

April 10, 2020

Acquisitions Colorado Industrial Net Lease Office Retail Western

DCP Quebec Divests of Multi-Tenant Commercial Asset in Colorado for $4.9M

by Amy Works April 10, 2020

THORNTON, COLO. — DCP Quebec has completed the disposition of a multi-tenant, net-lease investment building located at 7315-7375 E. 128th Ave. in Thornton. YC Inc. acquired the property for $4.9 million. Built 2018 on 1.7 acres, the property features 8,573 square feet of space. At the time of sale, four tenants fully occupied the asset. Matt Call and Ian Elfner of NavPoint Real Estate Group represented the seller, while Jae Kim of RE/MAX 100 represented the buyer in the transaction.

April 10, 2020

Acquisitions Office Texas

Colliers Brokers Sale of 72,551 SF Office Building in Dallas

by Taylor Williams April 10, 2020

DALLAS — Colliers International has brokered the sale of a 72,551-square-foot office building located at 6510 Abrams Road in the White Rock submarket of Dallas. Built in 1981, the property features executive suites and has received numerous renovations over the past five years. Cody Payne and Michael Tran of Colliers represented the seller, a private investor, in the transaction. Both the seller and the buyer, also a private investor, requested anonymity.

April 10, 2020

Acquisitions Illinois Midwest Office

JLL Arranges $24.2M Sale of Two-Property Office Portfolio in Suburban Chicago

by Kristin Harlow April 10, 2020

OAKBROOK TERRACE AND LISLE, ILL. — JLL Capital Markets has arranged the sale of Two TransAm and 750 Warrenville, two Class A office buildings in suburban Chicago, for $24.2 million. Two TransAm is a five-story, 117,759-square-foot property located in Oakbrook Terrace. It is 87.7 percent leased to 18 tenants. Located in Lisle, 750 Warrenville is a four-story, 94,380-square-foot building. It is 86.7 percent leased to nine tenants. Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller and Sam DiFrancesca of JLL represented the seller, American Landmark Properties Corp. The team also procured the buyer, RE Development Solutions.

April 10, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 94-Site Manufactured Housing Community in Nash, Texas

by Taylor Williams April 10, 2020

NASH, TEXAS — Marcus & Millichap has arranged sale of Oakwood Mobile Home Park, a 94-site manufactured housing community in Nash, located just outside Texarkana in the northeast corner of the state. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

April 10, 2020

Acquisitions Industrial Leasing Activity New Jersey Northeast

JLL Brokers $20.2M Sale-Leaseback of Industrial Property in West Deptford, New Jersey

by Alex Patton April 10, 2020

WEST DEPTFORD, N.J. — JLL has brokered the $20.2 million sale-leaseback of a 183,000-square-foot industrial property in West Deptford, a southern suburb of Philadelphia. Located at 100 Friars Blvd., the warehouse and distribution property was 100 percent leased at the time of sale. The property houses the headquarters of the seller, ICS Corp. Inc. The building features 22- to 24-foot clear heights, 19 loading doors and convenient access to the New Jersey Turnpike. John Plower and Jim Cadranell led a JLL team that represented ICS Corp. Inc. in the transaction. Clarion Partners Real Estate Income Fund Inc. was the buyer.

April 10, 2020

Acquisitions Leasing Activity New York Northeast Retail

NKF Negotiates $10.2M Sale of Retail Leasehold Interest in Manhattan

by Alex Patton April 10, 2020

NEW YORK CITY — Newmark Knight Frank (NKF) has negotiated the $10.2 million sale of the leasehold interest in a ground-floor retail property in the Greenwich Village neighborhood of Manhattan. The term of the leasehold is 70 years, and the property is leased to childcare provider Bright Horizons. Brian Segall and Jason Wecker represented the seller, a partnership of 644 Greenwich LLC and Premier Equities. The team also procured the buyer, 27-33 Realty Associates.

April 10, 2020

Acquisitions Industrial New Jersey Northeast

NAI Mertz Arranges Sale of 22,920 SF Industrial Property in Vineland, New Jersey

by Alex Patton April 10, 2020

VINELAND, N.J. — NAI Mertz has arranged the $1.2 million sale of a 22,920-square-foot industrial property in Vineland, located approximately 40 miles south of Philadelphia. Located at 2732 S. West Blvd., the warehouse was constructed 1967 and features 17-foot clear heights and convenient access to State Routes 55 and 40. Andrew Johnson and Jonathan Klear led an NAI Mertz team that represented the seller, South Jersey Glass & Door, in the transaction. The buyer was undisclosed.

April 10, 2020

Acquisitions Georgia Southeast Top Stories

Domain Capital, Simpson Housing Form $1B Joint Venture REIT with PFA Pension

by Alex Patton April 10, 2020

ATLANTA — Domain Capital Advisors and property management firm Simpson Housing have formed a joint venture with PFA Pension, an insurance company headquartered in Copenhagen, Denmark. PFA acquired a 49 percent equity interest in a 13-asset, Class A multifamily portfolio for an aggregate value of $1.05 billion. Simpson Housing will own the remaining 51 percent, while Domain Capital Advisors will provide oversight and asset management of the newly formed REIT joint venture. Simpson Housing formerly owned 100 percent of the 3,487-unit portfolio, which is located across multiple urban and suburban U.S. markets including Austin, Charlotte, Denver, Houston, Nashville, Phoenix, Portland and Seattle. The portfolio was 95 percent leased at the time of closing, and features both newly built and refurbished assets that are approximately six years old. “We are excited about our new relationship with PFA Pension and look forward to growing our relationship with them through further acquisitions,” says Patrick Leardo, executive managing director and chief executive officer of Domain Capital Group. “Our team is also proud to continue its longstanding partnership with Simpson Housing. We have managed equity investments in their portfolio for more than 10 years, while providing asset management and advisory support to our operating partner.” Simpson Housing …

April 10, 2020

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