Acquisitions

Investors Realty Brokers $7.2M Sale of Two-Building Office Property in Omaha

by Kristin Harlow March 30, 2020

OMAHA, NEB. — Investors Realty has brokered the sale of a two-building office property in Omaha for $7.2 million. The two adjacent buildings, located at 16945 and 17055 Frances St., span 36,740 square feet. The property was fully leased at the time of sale to Creighton University, Insurance Solutions, Frost Periodontics and Midwest Allergy & Asthma Clinic. Ember Grummons of Investors Realty represented the buyer, Heiskell Properties LLC. Tracy Earnest of NAI/NP Dodge represented the seller, RFW Properties LLC.

March 30, 2020

Acquisitions Illinois Midwest Retail

Valore Ventures Sells 7,784 SF Retail Center in Evergreen Park, Illinois

by Kristin Harlow March 30, 2020

EVERGREEN PARK, ILL. — Valore Ventures has sold Evergreen Park Towne Center in Evergreen Park, about 15 miles south of Chicago. The sales price was undisclosed. The 7,784-square-foot retail property is located at 8730 S. Kedzie Ave. It is fully leased to tenants such as Boost Mobile and Edible Arrangements. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented Valore in the sale. The buyer was undisclosed.

March 30, 2020

Acquisitions California Retail Western

Kidder Mathews Arranges $20.5M Sale of High-Street Retail Property in West Hollywood

by Amy Works March 30, 2020

WEST HOLLYWOOD, CALIF. — Kidder Mathews has facilitated the sale of a high-street retail property located at 8532 Melrose Ave. in West Hollywood. Blatteis & Schnur, a Century City, Calif.-based real estate investor, acquired the property from a New York-based investor for $20.5 million. Situated in a top-tier commercial corridor of Los Angeles, the building features 4,946 square feet of retail space. The current tenant is Lululemon Athletica. Imperial Capital represented the buyer, while Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the transaction.

March 30, 2020

Acquisitions California Lee & Associates Office Western

Fields Investments Sells 15,025 SF Office Building in Los Angeles’ West Hills Submarket

by Amy Works March 30, 2020

LOS ANGELES — Fields Investments has completed the disposition of an office building located at 22736 Vanowen St. in the West Hills neighborhood of Los Angeles. Dunya Properties, a private investor, purchased the asset for $4.3 million. Built in 1981, the three-story building features 15,025 square feet of office space. At the time of sale, the property was 71 percent occupied. Jared Smits and Jonathan Bruce of Lee & Associates-LA North/Ventura represented the seller in the deal.

March 30, 2020

Acquisitions California Healthcare Office Western

NAI Capital Negotiates $3M Acquisition of Highland Springs Medical Arts Building in Beaumont, California

by Amy Works March 30, 2020

BEAUMONT, CALIF. — NAI Capital has facilitated the purchase of Highland Springs Medical Arts Building, a medical office building located at 701 Highland Springs Ave. in Beaumont. A private investor acquired the asset for $3 million, or $203 per square foot, in a 1031 exchange. The name of the seller was not released. Marc Piron of NAI Capital’s Investment Services Group represented the buyer in the deal. Totaling 14,752 square feet, the asset offers 12 units with a camera security system, new landscaping and trash enclosure, and a recently redone parking lot complete with ADA compliant ramps and LED lights. At the time of sale, the property was fully leased.

March 30, 2020

Acquisitions Arizona Retail Western

CBRE Brokers Sale of Single-Tenant Retail Ground Lease in Gilbert, Arizona

by Amy Works March 30, 2020

GILBERT, ARIZ. — CBRE has arranged the sale of a single-tenant retail ground lease at 6278 S. Higley Road in Gilbert. Arizona-based STF Retail Partners 1 sold the asset to Honggie Kim, a California-based private investor, for an undisclosed price. AutoZone occupies the 7,370-square-foot building, which is located within Chandler Heights Village shopping center. Joe Compagno of CBRE’s Net Lease Property Group in Phoenix represented the seller and buyer in the deal.

March 30, 2020

Acquisitions Florida Industrial Southeast

JLL Arranges Sale of 297,000 SF Industrial Building in Jacksonville

by Alex Tostado March 27, 2020

JACKSONVILLE, FLA. — JLL has arranged the sale of Grainger Distribution Center, a 297,000-square-foot industrial building in Jacksonville. W.W. Grainger, a distributor of maintenance, repair and operating supplies, fully occupies the facility, which is situated on 75 acres at 6590 Pritchard Road in Jacksonville’s West industrial submarket. The seller and developer, TriGate Capital LLC, delivered the property in December. The center features 32-foot clear heights, 65 dock-high doors, two drive-in doors, ESFR fire suppression and LED high-bay lighting. Britton Burdette, Pete Pittroff, Matt Wirth, Dennis Mitchell, Patrick Nally, Bret Felberg and Luke Pope of JLL represented the seller in the transaction. Further details of the deal were not disclosed.

March 27, 2020

Acquisitions North Carolina Office Southeast

CBRE Negotiates Sale of Four Office Buildings in Raleigh Totaling 275,554 SF

by Alex Tostado March 27, 2020

RALEIGH, N.C. — CBRE has negotiated the sale of four office buildings in Raleigh. The portfolio comprises Lake Plaza East and Brook Forest in the North Raleigh submarket, and Sunday Drive and Centerview III in the Southwest Raleigh submarket. The four office buildings total 275,554 square feet. At the time of sale, the buildings were leased to technology, healthcare, engineering and insurance tenants. Patrick Gildea, Matt Smith and Grayson Hawkins of CBRE, along with Ben Kilgore of CBRE|Raleigh, represented the seller, Continental Capital Real Estate, in the transaction. TriGate Capital LLC acquired the portfolio for an undisclosed price.

March 27, 2020

Acquisitions Kentucky Retail Southeast

Cotsworld Group Acquires 134,000 SF Shopping Center Near Cincinnati

by Alex Tostado March 27, 2020

FLORENCE, KY. — The Cotsworld Group has acquired Turfway Plaza, a 134,000-square-foot retail center in Florence. At the time of sale, the property was 96 percent leased to tenants including Big Lots, Party Town, Office Depot, Rent-A-Center, Family Dollar, Cosmo Prof, Check ’n Go and H&R Block. The property is situated at 167 Lloyd Ave., 12 miles south of downtown Cincinnati. Jeff Johnston and Chris Prosser of Colliers International represented the undisclosed seller in the transaction. The Harrison, N.Y.-based buyer purchased the property for an undisclosed amount.

March 27, 2020

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $3.6M Sale of Firestone-Leased Retail Property Near Tampa

by Alex Tostado March 27, 2020

SPRING HILL, FLA. — Marcus & Millichap has brokered the $3.6 million sale of a Firestone Complete Auto Care in Spring Hill. The property, which comprises 5,789 square feet, is situated at 4833 Commercial Way, 45 miles north of downtown Tampa. The property is triple-net-leased to Firestone. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, FS Spring Hill LLC, in the transaction. David R. David of WA Development represented the buyer, 4 H Ranch LLC. McMinn says the property had multiple offers due to its long-term lease with rental increases and Firestone’s status as an internet-resistant business.

March 27, 2020

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