Acquisitions

Hamilton Zanze Acquires 224-Unit Multifamily Property in Nashville

by Alex Tostado October 10, 2019

NASHVILLE, TENN. — Hamilton Zanze has acquired Rivertop Apartments, a 224-unit multifamily community in Nashville. The property offers one-, two- and three-bedroom floor plans ranging from 878 to 1,418 square feet. Community amenities include a resident clubhouse, swimming pool, 24-hour fitness center, bocce ball court, dog park, pet spa, outdoor grills and firepits. Rivertop is located at 5800 River Road, nine miles southwest of downtown Nashville. The seller, Birmingham-based LIV Development, opened the property earlier this year. The sales price was not disclosed.

October 10, 2019

Acquisitions Loans Office Southeast Virginia

KeyBank Provides $29.4M Acquisition Loan for Two Office Buildings in Northern Virginia

by Alex Tostado October 10, 2019

STERLING, VA. — KeyBank Real Estate Capital has provided a $29.4 million acquisition loan for two office buildings in Sterling. Loudoun Gateway II and III span 179,864 square feet. CACI International Inc., a professional services and information technology company, fully leases Gateway II and 67 percent of Gateway III. The remaining space is leased to three other tenants. The property is located at 45195 Business Court, 27 miles west of downtown Washington, D.C. John Ward of KeyBank originated the loan on behalf of the borrower, Sackman Enterprises. Barry Judelson of Uniquities brokered the deal. The seller was not disclosed.

October 10, 2019

Acquisitions Industrial Northeast Pennsylvania

Panadyne Acquires Industrial Center Near Philadelphia for $1.3M

by Alex Patton October 10, 2019

MONTGOMERYVILLE, PA. — An affiliate of raw materials distributor Panadyne Inc. has acquired an industrial center in Montgomeryville, a northern suburb of Philadelphia. Panadyne will occupy approximately 50 percent of the 22,000-square-foot facility, which features 17-foot ceiling heights and 1,500 square feet of office space. Frank Roddy of Roddy Inc. represented Panadyne in the transaction.

October 10, 2019

Acquisitions Industrial Leasing Activity New Jersey Northeast

CBRE Arranges Sale-Leaseback of 100,000 SF Industrial Facility in Fairfield, New Jersey

by Alex Patton October 10, 2019

FAIRFIELD, N.J. — CBRE has arranged the sale-leaseback of a 100,000-square-foot industrial facility in Fairfield, located approximately 20 miles west of New York City. EverWest Real Estate Investors LLC acquired the property from Unifoil Corp., which will continue to occupy the industrial property via a long-term lease. Built in 1988, the property at 12 Daniel Road features 27,000 square feet of office space and parking for 188 cars. William Waxman, Kevin Dudley, David Gheriani and Gil Medina of CBRE represented EverWest in the lease negotiations. The sales price was undisclosed.

October 10, 2019

Acquisitions Illinois Midwest Multifamily

JVM Acquires 254-Unit Apartment Community in Suburban Chicago

by Kristin Harlow October 10, 2019

LA GRANGE, ILL. — JVM Realty Corp. has acquired Uptown La Grange, a 254-unit luxury apartment community in La Grange, about 17 miles west of downtown Chicago. The purchase price and seller were not disclosed. JVM Management Inc. will manage the property, which was built in 2017. Uptown La Grange has a high walk score of 90, as it sits next to a 17-acre public park and is one block away from the LaGrange Road Metra train station. Community amenities at the property include a rooftop terrace, heated pool, bocce ball court, fitness center, yoga studio and clubroom. JVM now owns and operates five multifamily properties in the area.

October 10, 2019

Acquisitions Illinois Midwest Multifamily

Marcus & Millichap Brokers Two Chicago Multifamily Sales Totaling $7.5M

by Kristin Harlow October 10, 2019

CHICAGO — Marcus & Millichap has brokered the sales of two multifamily properties on Chicago’s North Side for a combined $7.5 million. Kyle Stengle of Marcus & Millichap marketed the properties on behalf of the sellers. The first property, 1044 W. Newport Ave., is a two-story, nine-unit building in the Lakeview neighborhood. It sold for $4 million. Both the buyer and seller were local partnerships. The second property, 3507-3511 N. Elston Ave. in the Avondale neighborhood, is a four-story, 12-unit building. It sold for $3.5 million. Chicago-based Brennan Investments purchased the building from a California-based seller.

October 10, 2019

Acquisitions Michigan Midwest Retail

Gerdom Realty Arranges Sale of 23,900 SF Retail Property in Livonia, Michigan

by Kristin Harlow October 10, 2019

LIVONIA, MICH. — Gerdom Realty & Investment has arranged the sale of a 23,900-square-foot retail and office property in Livonia for an undisclosed price. The two-building asset is located on Middlebelt Road between 5 Mile and 6 Mile roads. Larry Siedell, Michael Murphy and Tjader Gerdom brokered the sale. A local investor purchased the property with plans to complete an exterior renovation. Gerdom will remain as the listing broker.

October 10, 2019

Acquisitions New Jersey Northeast Office

CBRE Brokers $84.7M Sale of Office Complex in Hamilton, New Jersey

by Alex Patton October 9, 2019

HAMILTON, N.J. — CBRE has brokered the $84.7 million sale of American Metro Center, an office complex in Hamilton, an eastern suburb of Trenton. The 487,072-square-foot facility was originally constructed in 1918 as a plumbing fixture manufacturing facility for American Standard Co. The property has since been redeveloped as an office complex immediately adjacent to the Hamilton Train Station. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer, Zach McHale, Adam Englander and Matt Saker of CBRE represented the buyer, The Birch Group, in the transaction. The CBRE team also represented the seller, which was undisclosed.

October 9, 2019

Acquisitions New Jersey Northeast Office

Colliers Arranges $31.1M Sale of Office Complex in Florham Park, New Jersey

by Alex Patton October 9, 2019

FLORHAM PARK, N.J. — Colliers International has arranged the $31.1 million sale of Florham Park Corporate Center, which consists of twin Class A office buildings totaling 230,000 square feet in Florham Park, located approximately 20 miles west of New York City. At the time of sale, the complex was 88 percent leased by 30 tenants. Amenities of the complex include a central courtyard with landscaped grounds, full-service cafe, conference center, fitness and game center and a bike-sharing program. Jacklene Chesler, Matthew Brown and Frank Summers of Colliers represented the buyer, Association for Corporate Growth, in the transaction. Colliers also represented the seller, a joint venture between Bergman Real Estate Group and Rialto Capital Management LLC.

October 9, 2019

Acquisitions Hospitality New Jersey Northeast

Regal Hospitality Acquires 191-Room Holiday Inn Newark Airport

by Alex Patton October 9, 2019

NEWARK, N.J. — Regal Hospitality Inc. has acquired the 191-room Holiday Inn Newark Airport hotel in Newark for an undisclosed price.. The property is adjacent to Newark Liberty International Airport and is located approximately 12 miles from the 80,000-seat MetLife stadium. Mark Rousseau of HREC Investment Advisors and Connie Mong of First Choice Real Estate represented the seller, a partnership between RJB Associates LP and Fundamentals Inc.

October 9, 2019

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