Acquisitions

Papillion Foods Acquires 535,000 SF Former Shopko Distribution Center in Papillion, Nebraska

by Kristin Harlow February 5, 2020

PAPILLION, NEB. — Papillion Foods has acquired a 535,000-square-foot former Shopko distribution center in Papillion for an undisclosed price. The 80-acre property is located in the Sarpy West Industrial submarket of Omaha. The facility was originally built for Shopko in 2000 and expanded in 2004. Shopko vacated the property in early 2019. Denny Sciscoe and Mike Earl of Cushman & Wakefield/The Lund Co. represented the seller, LCN Capital Partners, which purchased the facility in 2015. Brian Fogelberg and Emily Claridge of Transwestern represented the buyer. Wisconsin-based Shopko, an apparel and home goods retailer, closed all of its stores in mid-2019.

February 5, 2020

Acquisitions Healthcare Illinois Midwest

Cushman & Wakefield Brokers $7.7M Sale of Medical Office Building in Roscoe, Illinois

by Kristin Harlow February 5, 2020

ROSCOE, ILL. — Cushman & Wakefield has brokered the $7.7 million sale of the SwedishAmerican Clinic & Immediate Care-Prairie Center, a 25,565-square-foot medical office building in Roscoe in northern Illinois. Constructed in 2014, the facility sits on 7.5 acres at 4282 E. Rockton Road. SwedishAmerican, a division of UW Health, occupies 80 percent of the property. Services provided at the facility include immediate care, primary care, obstetrics and gynecology, podiatry, orthopedics, pulmonology, cardiology and physical therapy. The other tenant, Siepert & Co. LLP, is a public accounting firm and occupies 3,600 square feet. At the time of sale, 1,400 square feet was available for lease. Gino Lollio, Scott Niedergang and Travis Ives of Cushman & Wakefield represented the seller, Glen Rock Development LLC. A non-traded real estate investment trust focused primarily on healthcare assets purchased the building.

February 5, 2020

Acquisitions Kansas Midwest Missouri Multifamily

Pacific Sands Purchases Two Kansas City-Area Multifamily Assets

by Kristin Harlow February 5, 2020

KANSAS CITY, MO. AND LENEXA, KAN. — Pacific Sands Funds has purchased two multifamily properties in metro Kansas City for an undisclosed price. The first property is Chouteau Heights, a 76-unit apartment complex in the Sherwood Estates neighborhood of Kansas City. The second is Villas of Loiret, a 46-unit rental townhouse community in Lenexa. Chouteau Heights was built in 1964, while Villas of Loiret was constructed between 1999 and 2003. Pacific Sands plans to update both properties. Irvine, Calif.-based Pacific Sands maintains a portfolio of more than 500 units in southern California, Las Vegas, St. Louis and Kansas City. Seller information was undisclosed.

February 5, 2020

Acquisitions Michigan Midwest Retail

Gerdom Realty Negotiates Sale of 23,000 SF Retail Center in Livonia, Michigan

by Kristin Harlow February 5, 2020

LIVONIA, MICH. — Gerdom Realty has negotiated the sale of Livonia Crossroads for an undisclosed price. The 23,000-square-foot retail center is located at the southeast corner of Middlebelt and Plymouth roads in Livonia, a western suburb of Detroit. Tenants include MedPost Urgent Care, Disc Replay and Sprint. Tjader Gerdom, Larry Siedell and Michael Murphy of Gerdom represented both parties in the sale. A local investor purchased the asset. Gerdom retains leasing responsibilities for the center.

February 5, 2020

Acquisitions Colorado Office Western

Shorenstein Properties Sells 1.3 MSF Denver City Center Office Campus for $400M

by Amy Works February 5, 2020

DENVER — Shorenstein Properties has completed the disposition of Denver City Center, a two-tower office asset located in downtown Denver. Brookfield Properties acquired the asset for $400 million, according to the Colorado Real Estate Journal. Denver City Center consists of a 42-story building located at 707 17th St., which includes the 20-floor Hilton Denver City Center hotel (not included in the sale) and 22 floors of office space, and Johns Manville Plaza, a 29-story office building located at 717 17th St. The buildings combined total 1.3 million square feet. Tim Richey, Mike Winn, Jenny Knowlton, Charley Will and Chad Flynn of CBRE represented the seller in the deal. Shorenstein Properties originally purchased Denver City Center with funds from its Tenth Fund for $286 million in 2013.

February 5, 2020

Acquisitions Development Multifamily New York Northeast

Marcus & Millichap Brokers $33M Sale of Residential Development Site in Brooklyn

by Alex Patton February 5, 2020

NEW YORK CITY — Marcus & Millichap has brokered the $33 million sale of a residential development site in the Williamsburg neighborhood of Brooklyn. The site comprises three former industrial and residential buildings on the same block, located at 118 Hope St., 428 Rodney St. and 426 Rodney St. The buyer, local developer CW Realty, plans to redevelop the property with 100 multifamily units. Said Boukhalfa and Jonathan Codorniu of Marcus & Millichap represented CW Realty in the transaction. The team also represented the sellers, which were private owner-users.

February 5, 2020

Acquisitions California Healthcare Office Western

Healthcare Realty Acquires Taj Mahal Medical Office Building in Laguna Hills for $42M

by Amy Works February 5, 2020

LAGUNA HILLS, CALIF. — Healthcare Realty has purchased a medical office building, located at 23521 Paseo De Valencia in Laguna Hills, from The Muller Co. for $42 million in an off-market transaction. Known as Taj Mahal, the property was originally developed in 1964 as an office building and later converted into medical office space due to its proximity to Saddleback Memorial Hospital. The 88,538-square-foot asset underwent a modernization in 2011 to update the property’s design and functionality. John Wadsworth of Colliers International’s Healthcare Services served as lead broker in the transaction. Wadsworth represented the buyer in the deal.

February 5, 2020

Acquisitions Delaware Northeast Office

CSC Acquires 43,000 SF Office Building in Wilmington, Delaware

by Alex Patton February 5, 2020

WILMINGTON, DEL. — Business security firm Corporation Service Co. (CSC) has acquired the 43,000-square-foot PA Railroad office building in Wilmington, a southwestern suburb of Philadelphia, for $4.8 million. Located at 112 S. French St., the six-story building is situated adjacent to the Wilmington train station served by Amtrak and Southeastern Pennsylvania Transportation Authority. The building will be rebranded as CSC Station and will be repositioned to include a new two-story atrium, coworking space and traditional office space. Renovations are slated for completion this fall. Summit Properties Inc. was the seller.

February 5, 2020

Acquisitions California Multifamily Western

Marcus & Millichap Brokers $28.3M Sale of Multifamily Portfolio in Los Angeles County

by Amy Works February 5, 2020

LOS ANGELES, SANTA CLARITA, SYLMAR AND LANCASTER, CALIF. — Marcus & Millichap has negotiated the sale of a four-property multifamily portfolio located in Los Angeles County. The portfolio sold to four separate buyers for a total of $28.3 million. Steve Bogoyevac, Alexander Garcia Jr., Greg Harris, Kevin Green and Paul Darrow of Marcus & Millichap represented the undisclosed seller and undisclosed buyers in the transactions. The properties are a 54-unit building at 2736 Pomeroy Ave. in Los Angeles; a 65-unit community for residents age 55 or older located at 22816 Market St. in Santa Clarita; a 20-unit building at 13002 Dronfield Ave.; and an 80-unit seniors housing community located at 44942 Cedar Ave. in Lancaster.

February 5, 2020

Acquisitions Connecticut Industrial Northeast

Angel Commercial Arranges Sale of 40,809 SF Industrial Property in Milford, Connecticut

by Alex Patton February 5, 2020

MILFORD, CONN. — Angel Commercial LLC has arranged the $4.2 million sale of a 40,809-square-foot industrial property in Milford, a western suburb of New Haven. Located at 230 Old Gate Lane, the property offers immediate access to Interstate 95. The buyer, 230 Old Gate Lane LLC, plans to redevelop the property as a truck dealership. Jon Angel of Angel Commercial LLC represented 230 Old Gate Lane LLC in the transaction. Angel also represented the seller, CLS Milford LLC.

February 5, 2020

Newer Posts

Older Posts