Acquisitions

Sea Breeze Buys Del Sol Apartments in Northern California for $25.2M

by Amy Works April 8, 2020

SEASIDE, CALIF. — Sea Breeze LLC has purchased Del Sol Apartments, a three-parcel multifamily community located in Seaside in Monterey County. San Jose-based 1050 1. 12th St. LLC sold the asset for $25.5 million. Built between 1964 and 1974 on 3.1 acres, the 12-building, 98,105-square-foot community features 121 apartments. The property has undergone a variety of capital improvements, including all new decks and balconies, new double-pane windows, retrofitted garages, office upgrades and a new heating system. Eduardo Cerna of Marcus & Millichap represented the seller and procured the buyer in the transaction.

April 8, 2020

Acquisitions California Office Western

Newmark Pearson Commercial Brokers Sale of Two Office Buildings in San Joaquin Valley

by Amy Works April 8, 2020

TULARE AND FRESNO, CALIF. — Newmark Pearson Commercial has facilitated the sales of two office buildings in Tulare and Fresno. In the first transaction, an undisclosed investor acquired a 5,000-square-foot office building located at 793-799 N. Cherry St. in Tulare. Tulare Local Healthcare District sold the asset for an undisclosed price. Luke Tessman of Newmark Pearson Commercial was the agent. In the second deal, Surdeep Singh Family Limited Partnership sold a 5,135-square-foot office building located at 6065 N. First St. in Fresno. Lagattuta Land LLC acquired the property for an undisclosed price. Scott Christensen of Newmark Pearson Commercial, in cooperation with David Rodkin of ADR Preferred, handled the transaction.

April 8, 2020

Acquisitions Multifamily Northeast Pennsylvania Student Housing

MultiVersity Housing Partners Acquires 94-Bed Student Housing Community in Pittsburgh

by Alex Patton April 8, 2020

PITTSBURGH — MultiVersity Housing Partners has acquired Union on 5th, a 94-bed student housing community located near Duquesne University and the University of Pittsburgh, for an undisclosed price. The property features 35 fully furnished units in two- and three-bedroom floor plans. Renovations are planned for the property and will include a redesign of the lobby, the relocation of the office and leasing area, the addition of study space, hallway renovations, the construction of additional beds and the addition of a new package locker system. MultiVersity Property Management will oversee renovations and has been tapped to manage the community. Ryan Lang, Brandon Buell and Jack Brett of NKF Student Housing represented MultiVersity in the transaction. The seller was undisclosed.

April 8, 2020

Acquisitions Industrial New Jersey Northeast

Colliers Arranges Sale of 29,418 SF Industrial Property in Pennsauken, New Jersey

by Alex Patton April 8, 2020

PENNSAUKEN, N.J. — Colliers International has arranged the $1.3 million sale of 8000 National Highway, a 29,418-square-foot industrial property in Pennsauken, an eastern suburb of Philadelphia. The building features 14-foot clear heights and convenient access to Interstate 95 and U.S. Route 130. Patrick J. Kelly Drums, a provider of sustainable storage products, acquired the property. Ian Richman and Marc Isdaner of Colliers represented the seller, Puratos Corp.

April 8, 2020

Acquisitions Arizona Office Western

Local Investor Acquires 28,187 SF Office Building at Chandler Airpark in Arizona

by Amy Works April 8, 2020

CHANDLER, ARIZ. — Scottsdale, Ariz.-based Chandler Commercial Building B, a local private investor, has purchased the Vertex Education building, a single-story office building located at 3125 S. Gilbert Road in Chandler. Locally based Chandler CSO LLC sold the property for an undisclosed price. Situated within Chandler Airpark, the 28,187-square-foot Class A office building was developed in 2018 for Vertex Education, Arizona’s K-8 charter management organization. Currently, the company operates 18 schools throughout Arizona and Nevada, serving more than 21,000 students. Mindy Korth, Todd Noel and Sean Westfall of Colliers International in Arizona represented the seller, while Korth, Chris Roach and Matt Roach, also of Colliers, represented the buyer in the transaction.

April 8, 2020

Acquisitions Industrial Maryland Southeast Top Stories

GLL Real Estate Partners Acquires 1.1 MSF Industrial Development Near Baltimore for $90M

by Kristin Harlow April 8, 2020

CURTIS BAY, MD. — Germany-based GLL Real Estate Partners has acquired Brandon Woods III, a two-building industrial development in Curtis Bay, for $90 million. Chesapeake Real Estate Group LLC (CREG) and EverWest Real Estate Investors LLC sold the buildings. The sale also includes two land parcels with the potential for another 250,000 square feet of development. The two assets span 840,000 square feet at 7550 Perryman Court and 7659 Solley Road, just south of Baltimore near the Patapsco River. The building at 7550 Perryman Court is considered the largest speculative industrial building ever constructed in Anne Arundel County, according to CREG. Best Buy leased the entire building in summer 2018 and currently employs approximately 300 workers at the facility. The building is used as a warehouse and distribution center for large products, as well as a repair site for major appliances and televisions. The other building, 7659 Solley Road, is a recently delivered, 340,000-square-foot speculative property. It features a clear height of 36 feet, 87 dock doors, four drive-in doors, a 130-foot truck court and parking for 257 cars and 61 trailers. CREG was retained to oversee the construction, leasing and management at Brandon Woods III, which should total approximately …

April 8, 2020

Acquisitions Leasing Activity Retail South Carolina Southeast

Colliers Arranges $13.9M Sale-Leaseback of Walmart in Sumter, South Carolina

by Alex Tostado April 7, 2020

SUMTER, S.C. — Colliers International has arranged the $13.9 million sale of a triple-net leased, Walmart Neighborhood Market-occupied property in Sumter. Hutton Development developed and sold the 41,990-square-foot building, which is situated at 343 Pinewood Road, three miles south of downtown Sumter and 40 miles east of downtown Columbia. Walmart signed a new 13-year lease with the new owner, an undisclosed private investor based in Florida completing a 1031 exchange. Jereme Snyder of Colliers represented the seller in the transaction.

April 7, 2020

Acquisitions Multifamily Texas

Multifamily Property Group Acquires 128-Unit Apartment Community in Arlington

by Taylor Williams April 7, 2020

ARLINGTON, TEXAS — Multifamily Property Group, a California-based private equity firm, has acquired 2121 Apartments, a 128-unit community in Arlington. The property features one-, two- and three-bedroom units with tile backsplashes, walk-in closets and private patios or balconies. Amenities include a pool, tennis court, fitness center and a lounge and café bar. Dougherty Mortgage arranged a 12-year acquisition loan through a partnership with Old Capital Lending for the transaction.

April 7, 2020

Acquisitions Office Texas

Colliers Arranges Sale of 121,420 SF Office Building in Metro Dallas

by Taylor Williams April 7, 2020

RICHARDSON, TEXAS — Colliers International has arranged the sale of 2703 Telecom, a 121,420-square-foot office building located in the northeastern Dallas suburb of Richardson. Construction firm Hill & Wilkinson recently signed a 10-year lease as the anchor tenant at the building, which was 100 percent leased at the time of sale. Dallas-based Pillar Commercial sold the asset to Goldenberg & Associates Inc. for an undisclosed price. Creighton Stark and Chris Boyd of Colliers handled the transaction.

April 7, 2020

Acquisitions Healthcare Texas

Avison Young Brokers $8.1M Sale of Healthcare Portfolio in Dallas Area

by Taylor Williams April 7, 2020

DALLAS, GARLAND AND PLANO, TEXAS — Avison Young has brokered the $8.1 million sale of a trio of single-tenant healthcare properties occupied by DaVita Dialysis in the Dallas area. The portfolio included an 8,436-square-foot property in Plano that was built in 2008 and is adjacent to a senior living home; a 7,400-square-foot building in Garland that was built in 1992 and is situated within a major commercial corridor; and a 7,954-square-foot asset in Dallas that was built in 2007 within a mile of Methodist Dallas Medical Center. Patrick Barnes of Avison Young represented the seller, a California-based private investor. Christopher Goodman-Triolo of NLF Advisors represented the buyer, a Dallas-based investor.

April 7, 2020

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