Acquisitions

TSCG Negotiates $17.1M Sale of Retail Center in North Charleston

by Alex Tostado April 1, 2020

NORTH CHARLESTON, S.C. — TSCG has negotiated the $17.1 million sale of The Shoppes at Centre Pointe, a 139,688-square-foot retail center in North Charleston. Ashley Home Furniture, Dollar Tree and Staples anchor the center, which was 98 percent leased at the time of sale. Other tenants include Dunkin’, Sally Beauty, GameStop and Cici’s Pizza. The property is situated at 4950 Centre Pointe Drive, 11 miles north of downtown Charleston. Anthony Blanco and Jeff Yurfest of TSCG represented the seller, an undisclosed investor based in Atlanta, in the transaction. The buyer was an undisclosed, Georgia-based entity affiliated with Olympic Property Management.

April 1, 2020

Acquisitions California Multifamily Western

Marcus & Millichap Negotiates $20.1M Sale of Seville Apartments in Southern California

by Amy Works April 1, 2020

WHITTIER, CALIF. — Marcus & Millichap has negotiated the sale of Seville Apartments, a multifamily property located in Whittier. A private investor acquired the asset for $20.1 million, or $261,039 per unit. Situated 12 miles southeast of Los Angeles, Seville Apartments features 77 units in a mix of one- and two-bedroom floor plans. Built in 1971 on 2.5 acres, the community also features gated carport parking, on-site laundry, a swimming pool and a courtyard with pond, barbecues and picnic area. Tyler Leeson and Matt Kipp of Marcus & Millichap’s Newport Beach, Calif., office represented the seller, a private investor, and the buyer in the deal.

April 1, 2020

Acquisitions Arizona Industrial Western

Commercial Properties Arranges Sales of Two Cross-Dock Trucking Facilities in Arizona for $3.2M

by Amy Works April 1, 2020

PHOENIX AND TUCSON, ARIZ. — Commercial Properties has brokered the sales of two less-than-truckload (LTL), cross-dock trucking facilities in Tucson and Phoenix. In Tucson, Thomasville, N.C.-based Old Dominion Freight Line has completed the disposition of a 22-acre property that consists of a 31-door truck terminal located at 2202 N. Dragoon St. A Northern California-based buyer acquired the asset for $1.4 million. Jeff Hays of Commercial Properties represented the seller in the transaction. Additionally, John and Stacy Pifer completed the sale of a 36-door cross-dock LTL terminal located on six acres at 1412 S. 51st Ave. in Phoenix. Two Brothers Property purchased the asset for $1.8 million. Hays represented the buyer in the deal.

April 1, 2020

Acquisitions California Industrial Retail Western

Colliers Brokers Sale of 6,200 SF Retail, Warehouse Building in National City, California

by Amy Works April 1, 2020

NATIONAL CITY, CALIF. — Colliers International San Diego Region has arranged the sale of a retail and warehouse property located in National City. WestPro Plumbing acquired the asset from Gary R Kitagawa Family Trust for $1.6 million, or $256 per square foot. Built in 1986, the 6,200-square-foot building is situated on a 13,500-square-foot parcel at 712 E. 18th St. The property features 15-foot roll-up doors, 14 parking spaces and a fenced loading and storage area. Chris Holder, Will Holder and Mark Lewkowitz of Colliers represented the seller, while Ron Bement of Newmark Knight Frank represented the buyer.

April 1, 2020

Acquisitions New York Northeast Office Retail

Kaufman Organization Acquires Office, Retail Asset in Manhattan’s Flatiron District for $48.5M

by Alex Patton April 1, 2020

NEW YORK CITY — The Kaufman Organization has acquired a 66,190-square-foot office and retail asset in Manhattan’s Flatiron District for $48.5 million. The 12-story building is located at 56 W. 22nd St. and includes 59,719 square feet of office space on the second through 12th floors, and 6,471 square feet of retail space on the ground floor. Maynicke & Franke constructed the building in 1907. Bob Knakal and Stephen Palmese led a JLL team that represented the seller, a private investor, in the transaction. The team also procured the buyer, the Kaufman Organization.

April 1, 2020

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Arranges $12M Sale of Multifamily Property in Plainfield, New Jersey

by Alex Patton April 1, 2020

PLAINFIELD, N.J. — Gebroe-Hammer Associates has arranged the $12 million sale of Stoney Brooke Gardens, a 70-unit multifamily property in Plainfield, a western suburb of New York City. Located at 643-715 E. Front St., the garden-style apartment complex was built in 1961 and features two-bedroom floor plans exclusively. The property is located within walking distance of multiple retail and dining destinations as well as two rail service stations. Stephen Tragash of Gebroe-Hammer represented the seller, Stoney Brook Associates LLC, in the transaction. Tragash also procured the buyer, a private investor.

April 1, 2020

Acquisitions Connecticut Industrial Multifamily Northeast Office Retail

Chozick Realty Negotiates $5M Sale of Commercial Portfolio in Vernon, Connecticut

by Alex Patton April 1, 2020

VERNON, CONN. — Chozick Realty Inc. has negotiated the $5 million sale of a portfolio of commercial properties in Vernon, a northeastern suburb of Hartford. The portfolio included the 65-unit Westar Apartments, an 8,600-square-foot warehouse, a 2,400-square-foot office building, a 1,700-square-foot retail property and an eight-unit apartment building. Tom Boyle of Chozick Realty represented the undisclosed seller in the transaction. Boyle also procured the buyer, a regional multifamily investor.

April 1, 2020

Acquisitions Industrial Self-Storage Texas

Bellomy Negotiates Sale of 240-Unit Houston Mini Storage Facility

by Taylor Williams April 1, 2020

HOUSTON — Self-storage investment brokerage firm Bellomy & Co. has negotiated the sale of Houston Mini Storage, a 240-unit facility located at 12841 S. Main St. on the city’s southwest side. The property features 31,490 net rentable square feet and was 84 percent occupied at the time of sale. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the locally based buyer in the transaction. Taucha Hogue of Newmark Knight Frank represented the seller.

April 1, 2020

Acquisitions Retail Texas

Wellington Realty Brokers Sale of 54,250 SF Ridge Road Towne Center in Rockwall, Texas

by Taylor Williams April 1, 2020

ROCKWALL, TEXAS — Wellington Realty has brokered the sale of Ridge Road Towne Center, a 54,250-square-foot neighborhood shopping center in Rockwall, a northeastern suburb of Dallas. The property was built in 2005 and was 74 percent leased at the time of sale. David Shaffer, Caleb Jones, Curtis Sung, Tammy Shaffer and Brandon Johnson of Wellington Realty represented the seller in the transaction. Additional terms of sale were not disclosed.

April 1, 2020

Acquisitions Industrial Midwest Ohio

Monmouth Real Estate Acquires Industrial Asset in Lancaster, Ohio for $17.9M

by Kristin Harlow April 1, 2020

LANCASTER, OHIO — Monmouth Real Estate Investment Corp. has acquired a 153,000-square-foot industrial building in Lancaster within metro Columbus for $17.9 million. The property is net leased for 10 years to Magna Seating of America Inc., a division of Magna International. The building sits on 24.5 acres at 747 Mill Park Drive. The seller was not disclosed.

April 1, 2020

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