Acquisitions

Stan Johnson Co. Negotiates $16.8M Sale of Distribution Facility in Findlay, Ohio

by Kristin Harlow January 23, 2020

FINDLAY, OHIO — Stan Johnson Co. has negotiated the sale of a single-tenant, 402,604-square-foot distribution facility in Findlay for $16.8 million. The warehouse is fully leased to American Plastics, a designer, manufacturer and distributor of plastic-injection molded products. It is located at 14801 County Road 212. Originally built in 1998, the property sits on 24 acres and features a clear height of 28 feet, 44 dock doors and a fenced truck court. Rob Gemerchak and Jeff Hughes of Stan Johnson represented the seller, local developer Nickolas LLC. Plymouth Industrial REIT Inc. purchased the asset.

January 23, 2020

Acquisitions Industrial Midwest Ohio

Reichle Klein Group Brokers $4.6M Sale of Industrial Building in Ohio

by Kristin Harlow January 23, 2020

PIONEER, OHIO — Reichle Klein Group has brokered the $4.6 million sale of a 157,550-square-foot industrial building in Pioneer in northwest Ohio. The property is located at 2 Kexon Drive. Ron Jurgenson of Reichle Klein and Tim Echemann of Industrial Property Brokers represented the seller, Pioneer’s Kidston Family Cos. Ltd. Jurgenson represented the buyer, ATD Properties LLC.

January 23, 2020

Acquisitions Illinois Industrial Midwest

Cawley Chicago Arranges Sale of Former Gymnastics Facility in Naperville, Illinois

by Kristin Harlow January 23, 2020

NAPERVILLE, ILL. — Cawley Chicago has arranged the sale of a 34,984-square-foot warehouse in Naperville that formerly housed Naperville Gymnastics. The sales price was undisclosed. Located at 800 Enterprise Court, the property sits on 7.5 acres and features a clear height of 18 feet, two interior docks and 12,500 square feet of office space. Jack Brennan and Daniel Cawley of Cawley represented the private seller. Jeff Provenza of Darwin Realty represented the buyer, which plans to renovate the facility and improve the land to use for its construction equipment rental business.

January 23, 2020

Acquisitions New Jersey Northeast Office

CBRE Brokers $15.2M Sale of Hamilton Plaza Office Building in Paterson, New Jersey

by Taylor Williams January 23, 2020

PATERSON, N.J. — CBRE has brokered the $15.2 million sale of 100 Hamilton Plaza, a 181,995-square-foot office building in Paterson, a city in Northern New Jersey. The 14-story, transit-served building was 90 percent leased at the time of sale. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Zach McHale of CBRE represented the seller, Mountain Development Corp., in the transaction. The team also procured the buyer, a private investor based in New York City.

January 23, 2020

Acquisitions Multifamily Texas

Newport Real Estate Acquires Fountains at the Bayou Apartment Community in Houston

by Taylor Williams January 23, 2020

HOUSTON — Newport Real Estate Partners, a newly formed investment firm focused on value-add multifamily properties, has acquired The Fountains at the Bayou, a 460-unit community in Houston. Houston-based investment firm Nitya Capital sold the property in an off-market transaction. Built on eight acres in 1969, the property spans 31 buildings and features amenities such as a pool, clubhouse and playground areas. Newport’s two-year value-add program will center on renovating amenity spaces, upgrading landscaping and signage and rebranding the community as Valencia Grove Apartments.

January 23, 2020

The-Crossing-Tahoe-Valley-South-Lake-Tahoe-CA

Acquisitions California Retail Western

Sutter Capital Sells 46,041 SF Redeveloped Lifestyle Center in South Lake Tahoe

by Amy Works January 23, 2020

SOUTH LAKE TAHOE, CALIF. — Sacramento-based Sutter Capital Group has completed the disposition of The Crossing at Tahoe Valley, a newly redeveloped shopping center in South Lake Tahoe. A private investor acquired the asset for an undisclosed price in a 1031 exchange. Originally constructed in 1973, the shopping center underwent a renovation in 2017. The new design features an institutional-quality mountain contemporary buildout. A large outdoor communal plaza offers casual seating, fire pits and an elevated stage that hosts daily live music performances. At the time of sale, the property was 87 percent leased to a mix of local restaurants, health and wellness services and boutique shops, as well as one of the top-performing Big 5 Sporting Goods stores in the retailer’s portfolio, according to Sutter. Situated on 4.9 acres at 2014-2062 Lake Tahoe Blvd., The Crossing at Tahoe Lake is less than two miles from Lake Tahoe’s southern shore. Eric Kathrein, Bryan Ley and Jake Dempsey of JLL Retail Capital Markets represented the seller in the transaction.

January 23, 2020

Acquisitions Industrial Texas

Nuveen Real Estate Sells 352,680 SF Beltway North Commerce Center in Houston

by Taylor Williams January 23, 2020

HOUSTON — Nuveen Real Estate has sold Beltway North Commerce Center, a 352,680-square-foot industrial facility in Houston. Built on 23.4 acres in 2015, the property is fully leased to cargo handling firm Air General and logistics firm DB Schenker and offers convenient access to Hardy Toll Road and Beltway 8. Building features include 32-foot clear heights, 110 dock-high doors and 68 trailer parking spaces. Trent Agnew, Rusty Tamlyn, Charlie Strauss and Katherine Miller of JLL represented Nuveen in the transaction. High Street Logistics Properties purchased the asset for an undisclosed price.

January 23, 2020

Acquisitions Multifamily Seniors Housing Texas

Blueprint Brokers Sale of 100-Unit Wyoming Springs Assisted Living Community Near Austin

by Taylor Williams January 23, 2020

ROUND ROCK, TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of Wyoming Springs, a 100-unit assisted living and memory care community in Round Rock, a suburb of Austin. One Liberty Properties Inc., a publicly traded REIT based in New York, sold the property for an undisclosed price. The buyer was a New York-based private equity fund looking to expand its seniors housing presence. Joshua Salzman and Ben Firestone of Blueprint handled the transaction.

January 23, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 97-Site Mobile Home Park in Nolanville, Texas

by Taylor Williams January 23, 2020

NOLANVILLE, TEXAS — Marcus & Millichap has arranged the sale of Cimarron Park Estates, a 97-site mobile home park in Nolanville, located near Temple in the central part of the state. The property is situated on roughly 15 acres. Robert Denninger and Brad Dorsey of Marcus & Millichap represented the seller, a private investor, in the transaction. Denninger also procured the buyer, another private investor. Both parties requested anonymity.

January 23, 2020

Acquisitions Colorado Net Lease Retail Western

Marcus & Millichap Negotiates $7M Sale of Service Station/Convenience Store in Brighton, Colorado

by Amy Works January 23, 2020

BRIGHTON, COLO. — Marcus & Millichap has arranged the sale of Kum & Go, a service station and convenience store located in Brighton, a northeastern suburb of Denver. A limited liability company sold the property for $7 million. Located at 5112 E. Bromley Lane, the 6,975-square-foot, net-leased property features 12 gas pumps and 24 nozzles for personal vehicles and four semi bays for commercial vehicles. The property also features a Go Fresh Market and charging stations for electric vehicles. Timothy Nichols of Marcus & Millichap’s Chicago Oak Brook office represented the seller, while Skyler Cooper, also of Marcus & Millichap, served as broker of record in Colorado.

January 23, 2020

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