Acquisitions

CBRE Negotiates $35.7M Sale of Pacific Bay Club Apartments in Phoenix’s Southeast Valley

by Amy Works July 30, 2020

AHWATUKEE, ARIZ. — CBRE has arranged the sale of Pacific Bay Club, a multifamily community located in Ahwatukee, a suburb of Phoenix. Logan Capital Advisors acquired the asset from Picerne Development for $35.7 million. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the seller in the deal. Built in 1988, Pacific Bay Club features 192 garden-style apartments, an upgraded leasing center and clubhouse, a barbecue rotunda with four stainless steel gas grills, and exterior LED lighting.

July 30, 2020

Acquisitions California Restaurant Retail Western

Hanley Investment Group Brokers Sale of Two Inland Empire Retail Buildings for $5.2M

by Amy Works July 30, 2020

CORONA, CALIF. — Hanley Investment Group has brokered the sale of two multi-tenant retail buildings located at 1240-1282 Border Ave. in Corona. A Denver-based private investment group sold the assets to a local private investor for $5.2 million. The Shops at Village Grove Plaza features a freestanding, 9,200-square-foot retail pad building occupied by six tenants and a two-tenant, 2,400-square-foot shop building adjacent to Stater Bros. Markets. Tenants at the properties offer a variety of services and products, including dental care, dry cleaning, laundry services, flowers, donuts, liquor, hair styling and nail services. Built in 1976, the assets, which total 11,600 square feet, are part of the 56,100-square-foot Village Grove Plaza that Stater Bros. Market and Crunch Fitness anchor. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Ranhee Im of ANA Capital of Los Angeles represented the buyer in the deal.

July 30, 2020

Acquisitions Illinois Midwest Retail

NARE Investments Acquires 142,195 SF Shopping Center in Metro Chicago

by Kristin Harlow July 30, 2020

HARWOOD HEIGHTS, ILL. — NARE Investments has acquired Harwood Commons, a 142,195-square-foot shopping center in metro Chicago’s Harwood Heights. The purchase price was undisclosed. Harwood Commons, located at 4701 N. Harlem Ave. and built in 1981, is home to Burlington, Marshalls and Aldi. CBRE’s National Retail Partners Midwest team represented the seller, Icahn Enterprises.

July 30, 2020

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 67,817 SF Distribution Building in Schaumburg, Illinois

by Kristin Harlow July 30, 2020

SCHAUMBURG, ILL. — Entre Commercial Realty has brokered the sale of a 67,817-square-foot, last-mile distribution building in Schaumburg for an undisclosed price. The property is located at 710 E. State Parkway. Advance Auto Parts and its affiliate, Worldpac, occupy the entire building. They use the facility to provide just-in-time delivery of automotive parts and accessories to customers. An affiliate of STAG Industrial acquired the property. Dan Benassi, Dan Jones and Sam Deihs of Entre represented the undisclosed seller.

July 30, 2020

Acquisitions Multifamily Texas

IPA Brokers Sale of 303-Unit Bowery at Southside Apartments in Fort Worth

by Taylor Williams July 30, 2020

FORT WORTH, TEXAS — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of The Bowery at Southside, a 303-unit apartment community in Fort Worth. The property was built on 7.5 acres in 2019 and features apartment and townhome residences with an average unit size of 820 square feet. Amenities include a pool, sky lounge and a lawn with a five-hole putting green. Drew Kile, Will Balthrope and Joey Tumminello of IPA represented the seller, StoneHawk Capital Partners, and procured the buyer, Virginia-based Weinstein Properties.

July 30, 2020

Acquisitions Multifamily Oklahoma Texas

Timberland Partners Buys 248-Unit Encore Memorial Apartments Near Tulsa

by Taylor Williams July 30, 2020

BIXBY, OKLA. — Minneapolis-based investment firm Timberland Partners has purchased Encore Memorial, a 248-unit apartment community located in the southern Tulsa suburb of Bixby. Built in 2012, the property offers one-, two- and three-bedroom units. Amenities include a business center, resident clubhouse, pool, fitness center, playground and a volleyball court. Timberland Partners acquired the asset through its $100 million TPAF VII Fund. The seller was not disclosed.

July 30, 2020

Acquisitions Multifamily Seniors Housing Texas

Blueprint Negotiates Sale of 150-Bed Skilled Nursing Facility in Kerrville, Texas

by Taylor Williams July 30, 2020

KERRVILLE, TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 150-bed skilled nursing facility in Kerrville, approximately 65 miles northwest of San Antonio. The property was built in 2006. A private investor bought the asset and contracted with a Texas-based operator as the tenant. The seller and sales price were not disclosed.

July 30, 2020

Acquisitions Industrial New Jersey Northeast

Lollicup USA Buys Newly Built, 187,500 SF Industrial Facility in Branchburg, New Jersey

by Taylor Williams July 30, 2020

BRANCHBURG, N.J. — Lollicup USA, a manufacturer and distributor of hospitality and foodservice products, has purchased a 187,500-square-foot industrial facility in Branchburg, about 45 miles west of New York City. J.G. Petrucci Co. developed the facility, which is situated on 18.4 acres and features 31 loading docks, 36-foot clear heights and ample trailer and automobile parking spaces. Joel Lubin and Brian Golden of JLL represented J.G. Petrucci in the sale. Mindy Lissner and David Gheriani of CBRE represented Lollicup USA.

July 30, 2020

Acquisitions Industrial NAI Texas

NAI Partners Brokers Sale of 6,000 SF Industrial Property in Metro Houston

by Taylor Williams July 29, 2020

CYPRESS, TEXAS — NAI Partners has brokered the sale of a 6,000-square-foot industrial property located at 16643 Telge Road in the northwestern Houston suburb of Cypress. Travis Land and A.J. Williams of NAI Partners represented the seller, JDFM Telge LLC, in the transaction. Jared Clayton represented the buyer, GKCG Properties.

July 29, 2020

Acquisitions Industrial NAI New Jersey Northeast

NAI James Hanson Brokers Sale of 119,592 SF Industrial Building in Totowa, New Jersey

by Taylor Williams July 29, 2020

TOTOWA, N.J. — NAI James Hanson has brokered the sale of a 119,592-square-foot industrial building located at 922 Riverview Drive in Totowa, located northwest of New York City. The property features 20- to 26-foot clear heights, 120 automobile parking spaces and 17,000 square feet of office space. Scott Perkins and Christopher Todd of NAI James Hanson represented the seller, 922 Riverview Drive Associates, in the transaction. McBride Corporate Real Estate represented the buyer, Innovative Cosmetic Concepts.

July 29, 2020

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