Acquisitions

Atria-Foster-Square-Foster-City-CA

FOSTER CITY, CALIF. — Artemis Real Estate Partners has acquired Atria at Foster Square, a 155-unit senior living community located in Foster City, roughly 20 miles southeast of San Francisco. Artemis purchased the property in partnership with the current operator, Atria Senior Living, which will continue to manage the community under its Atria Signature Collection brand.  Built in 2016, the property was developed as part of a mixed-use master-planned town center. Amenities at the community include a theater, fitness center, activity and game rooms, a library, courtyard, physical therapy space and multiple dining venues.  Aaron Rosenzweig and Dan Baker of JLL represented the undisclosed seller in the transaction. 

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SALT LAKE CITY — Newmark Mountain West has brokered the sale of a 10-property C-A-L Ranch store portfolio spanning Idaho, Utah, Arizona and Nevada. Integra CRE sold the portfolio for an undisclosed price. The name of the buyer was not released. Totaling more than 637,000 square feet, the retail locations serve rural and suburban communities. Chad Moore, Drew Helm and Brendan Lee of Newmark Mountain West represented the seller in the deal.

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8530-8550-S-Priest-Dr-Tempe-AZ

TEMPE, ARIZ. — Transwestern Real Estate Services has arranged the sale of two office buildings located at 8530-8550 S. Priest Drive in Tempe. Widewaters acquired the asset from Target Corp. for $20.5 million. Built in 2003 and renovated in 2019, the asset features two two-story, 94,480-square-foot buildings and a two-level parking garage. The 25-acre lot offers direct access to Interstate 10 and Loop 202. Paul Borgesen, Dylan Sproul and Royden Hudnall of Transwestern represented the buyer, while Bill Bayless of CBRE represented the seller in the deal. William Zurek and Jim Achen Jr. of Transwestern joined the acquisition team to market the property for either sale or lease.

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1050-Laurel-Rd-Oakley-CA

OAKLEY, CALIF. — RealSource Group has arranged the ground lease sale of a single-tenant convenience store and fuel station located at 1050 Laurel Road in Oakley. California Capital & Investment Group sold the asset to 7-Eleven, which exercised its Right of First Refusal on the property, for an undisclosed price. Jonathan Schiffer and Austin Blodgett of RealSource represented the seller in the deal. 7-Eleven occupies the 3,795-square-foot building that was built in 2019 on 1.2 acres. The property is subject to a triple-net ground lease with over nine years remaining on the initial 15-year term, 10 percent rent increases every five years and three five-year renewal options.

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WAITE PARK, MINN. — JLL Capital Markets has brokered the sale of Park Villas Apartments, a 95-unit community situated on 7 acres in Waite Park, a city in central Minnesota. The property features 71 one-story, cottage-style units and 24 two-story townhomes for residents age 55 and older. The community was built in 1991 and renovated in 2008. Units average 931 square feet. Josh Talberg, Joseph Peris, Ken Dayton, Pat McMullen and Jack Graveline of JLL represented the seller, Podawiltz Development Corp., and procured the buyers, Noel Johnson and Jamison Kohout of Venture Development Group.

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MARION, IND. — Marcus & Millichap has negotiated the $4.9 million sale of Park Forest Apartments in Marion, which is located about midway between Indianapolis and Fort Wayne. The 64-unit multifamily property at 1005 N. Park Forest Drive features two-bedroom units. Each 900-square-foot residence has undergone recent renovations, including new balconies, windows, HVAC systems and water heaters. Quentin Benedetto, Kyle Stengle and Jack Stanton of Marcus & Millichap represented the seller, Pentagon Investment Group. Benedetto and Stanton procured the buyer, Ross McCarthur, co-founder of Follow The Deal Investments.

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AURORA, ILL. — Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of a 14,238-square-foot retail center in Aurora. At the time of sale, the property at 2380 S. Eola Road was 90 percent leased to tenants such as Subway, Dunkin’, Wing Snob and Smile Family Dental. Dan Waszak and Brett Berlin of Quantum represented the seller, a public REIT based in Florida. The buyer was a private investor based in Illinois.

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HOUSTON — Stream Realty Partners has brokered the sale of a 27,500-square-foot industrial building in North Houston. According to LoopNet Inc., the building at 608 W. Richey Road was built on 5.9 acres in 1982. Jon Farris of Stream represented the seller, Superior Energy Services, in the transaction. Andrew Laycock of Partners Real Estate represented the buyer, Axis Partners.

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Campus-at-Scott-Santa-Clara-CA.jpg

SANTA CLARA, CALIF. — Ellis Partners, in partnership with The Baupost Group, has purchased Campus at Scott, a Class A office campus in Santa Clara, from New York-based Clarion Partners for an undisclosed price. The three-building, 460,000-square-foot property is located at 3315, 3325 and 3355 Scott Blvd. The partnership plans to upgrade the asset’s amenities including fitness, food and outdoor areas.

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S-Central-Ave-Chevy-Chase-Dr-Glendale-CA.jpg

GLENDALE, CALIF. — Marcus & Millichap has arranged the sale of a vacant retail building located on 2.4 acres at South Central Avenue and Chevy Chase Drive in Glendale. Aria Investments LLC sold the asset to the City of Glendale for $24 million. The city plans to develop a park and recreation center on the site, which includes a 33,818-square-foot retail building formerly occupied by JoAnn Fabrics. Sheila Alimadadian of Marcus & Millichap represented the seller and procured the buyer in the deal.

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