Acquisitions

Dalfen Acquires 204,900 SF Industrial Building in West Palm Beach Leased to Serta Simmons

by Alex Tostado July 22, 2020

WEST PALM BEACH, FLA. — Dalfen Industrial has acquired a 204,900-square-foot industrial building fully leased to Serta Simmons in West Palm Beach. The mattress company has been the sole tenant at the property since it was commissioned in 1996. The asset is situated 3774 Interstate Park Road N., seven miles northwest of downtown West Palm Beach and one mile from Interstate 95. The property features a 2.2-acre truck parking lot and is fully fenced with a guard house at the entrance. The seller and sales price were not disclosed.

July 22, 2020

Acquisitions Industrial NAI New Jersey Northeast

NAI James Hanson Arranges Sale of 18,729 SF Industrial Building in Randolph, New Jersey

by Taylor Williams July 22, 2020

RANDOLPH, N.J. — NAI James Hanson has arranged the sale of an 18,729-square-foot industrial building located at 246 S. Salem St. in Randolph, about 40 miles west of New York City. According to LoopNet Inc., the property was built on 3.4 acres in 1952. Jonathan Kristofich and John Schilp of NAI James Hanson represented the seller, a private estate, and procured the buyer, Salem Enterprises LLC.

July 22, 2020

Acquisitions Hospitality Illinois Midwest

Marriott Chicago Northwest Hotel Trades Hands in Hoffman Estates

by Kristin Harlow July 22, 2020

HOFFMAN ESTATES, ILL. — The 295-room Marriott Chicago Northwest hotel has sold for an undisclosed price. Situated in the northwest Chicago suburb of Hoffman Estates, the hotel opened in 2002. It features nearly 13,000 square feet of flexible meeting and event space. Hoffman Estates Hotel Group LLC, led by Harry and Alex Ghoman of Indianapolis-based The Ghoman Group, acquired the property. Ghoman plans to embark on capital improvements, such as renovating the guest rooms and lobby. John Karver and Eric Belfrage of CBRE Hotels represented the undisclosed seller. Rushi Shah and Prabhat Jayara of Mag Mile Capital arranged a bridge loan for the acquisition on behalf of Ghoman.

July 22, 2020

Acquisitions Illinois Industrial Midwest Office

SVN | Chicago Commercial Brokers $8.2M Sale of Redevelopment Site in Chicago’s Humboldt Park

by Kristin Harlow July 22, 2020

CHICAGO — SVN | Chicago Commercial has brokered the sale of a redevelopment site in Chicago’s Humboldt Park neighborhood for $8.2 million. The multi-building property sits on 6.5 acres at 1334, 1330 and 1030 N. Kostner Ave. The buyer, 1334 Kostner Owner LLC, is a subsidiary of IBT Group LLC. IBT plans to undertake an extensive office redevelopment project at the site. Jennifer Hopkins and Olivia Czyzynski of SVN represented the buyer. John McDermott of SVN represented the undisclosed seller along with outside broker Amy Van Hook.

July 22, 2020

Acquisitions California Loans Multifamily Western

Berkadia Arranges $8M Preferred Equity Investment in Amber Ridge Apartments Near Los Angeles

by Amy Works July 22, 2020

LA VERNE, CALIF. — Berkadia has has arranged $8 million preferred equity investment for Silver Star Real Estate’s purchase of Amber Ridge Apartments, a garden-style multifamily property located in La Verne, 30 miles east of Los Angeles. Orange County, Calif.-based Silver Star Real Estate acquired the property through its affiliated purchasing entity, Amber Property Investments, for $49.7 million, or $338,000 per unit. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia’s Joint Venture Equity and Structured Capital Group delivered Harbor Group International as the preferred equity partner. Built in 1973 and renovated in 2006, Amber Ridge features 147 units spread across 25 two-story residential buildings. On-site amenities include a swimming pool with spa; clubhouse with full kitchen and fireplace; business center; outdoor picnic area with barbecue; pet grooming salon; and fitness center.

July 22, 2020

Acquisitions Arizona Retail Western

Evergreen Devco Sells Single-Tenant Retail Building in Phoenix for $2.7M

by Amy Works July 22, 2020

PHOENIX — Evergreen Devco has completed the disposition of a single-tenant retail building located at 15275 N. 35th Ave. in Phoenix. Vico Partners acquired the asset for $2.7 million. Wilhelm Automotive occupies the 5,569-square-foot building, which RKAA Architects designed. The building is part of Evergreen’s 211,745-square-foot redevelopment project in Phoenix. The company is converting the existing parking field at the formerly Kmart-anchored shopping center into five new pad developments. Situated on 3.7 acres, a Cube Smart self-storage facility anchors the project. Additional tenants include Black Rock Coffee and Salad and Go. Joseph Compagno, R. Max Bippus and Benjamin Farthing of CBRE’s Net Lease Property Group in Phoenix represented the seller, while Dylan Brown and Andrew Fosberg of CBRE Phoenix nad California-based Chris Van Keulen of CBRE represented the buyer in the deal.

July 22, 2020

Acquisitions Industrial Nevada Western

GLM Cabinets Acquires Industrial Property in Las Vegas for $2.1M

by Amy Works July 22, 2020

LAS VEGAS — GLM Cabinets has purchased an industrial building located within Matter Business Park @ Warm Springs in Las Vegas. Matter Business Park @ Warm Springs sold the asset for $2.1 million. Located at 7930 W. Warms Springs, Suite 170, the property features 12,878 square feet of industrial space. Dan Doherty, Paul Sweetland, Jerry Doty and Chris Lane of Colliers International represented the seller in the deal.

July 22, 2020

Acquisitions California Retail Western

Duhs Commercial Brokers $8M Sale of Two Retail Buildings in Oceanside, California

by Amy Works July 22, 2020

OCEANSIDE, CALIF. — Duhs Commercial has arranged the sales of two retail buildings located in Oceanside for a total of $8 million. In the first transaction, an undisclosed buyer acquired a 3,000-square-foot retail space at 1888 Oceanside Blvd. for $2.6 million. Austin Dias and Rick Wu of Duhs Commercial represented the buyer in the acquisition and lease to 7-Eleven, while Henry Lee of Autowash Brokers represented the undisclosed seller in the deal. Andrew Pierson of Cushman & Wakefield represented the tenant in the lease transaction. In the second deal, Dias and Wu arranged the $5.4 million sale of a 2,450-square-foot retail space at 1990 Oceanside Blvd. Henry Lee of Autowash Brokers represented the undisclosed lessee of the property.

July 22, 2020

Acquisitions Multifamily Seniors Housing Texas

SLIB Brokers $7.4M Sale of Wood Memorial Nursing Home in Mineola, Texas

by Taylor Williams July 21, 2020

MINEOLA, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wood Memorial Nursing Home in Mineola, approximately midway between Dallas and Shreveport, La. An owner-operator based in Central Texas sold the property to a Texas-based regional owner-operator for $7.4 million. The skilled nursing facility was built in 1964 and features 115 total beds. Matthew Alley arranged the transaction for SLIB.

July 21, 2020

Acquisitions Office Texas

Colliers Arranges Sale of 23,657 SF Flex Building in Mont Belvieu, Texas

by Taylor Williams July 21, 2020

MONT BELVIEU, TEXAS — Colliers International has arranged the sale of Midstream Business Park, a 23,657-square-foot flux building in Mont Belvieu, about 30 miles east of Houston. Judd Harrison and Jason Tangen of Colliers represented the seller, Bellwether Interest LLC, in the transaction. Hart Schleicher of Capital Real Estate Commercial represented the buyer, Kimberlee Partners LP. The property was fully leased at the time of sale.

July 21, 2020

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