Acquisitions

201-N-Brand-Blvd-Glendale-CA

GLENDALE, CALIF. — A private investor operating under the entity of BrandWilson LLC has purchased a mixed-use property located at 201 N. Brand Blvd. in Glendale. Bow Truss Capital sold the asset for $18.1 million. Warren Berzack and Slavic Zlatkin of Lee & Associates – LA North/Ventura represented the buyer, while Trevor Carl Nelson of Newmontis Real Estate Investment Management represented the seller in the deal. The historic Woolworth Building was recently renovated. The 43,437-square-foot property comprises a storefront retail space on the ground floor and office space on the second floor. At the time of sale, the property was fully leased to a variety of tenants, including AT&T, Unify Credit Union, 85° and Regus.

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MILWAUKIE, ORE. — Marcus & Millichap has arranged the sale of Westwood Marketplace, a retail asset located in Milwaukie. A limited liability company sold the property to an undisclosed buyer for $4.1 million. Located at 14880 SE Webster Road, Westwood Marketplace features 14,189 square feet of retail space. Safeway anchors the property, which was 100 percent leased to long-term tenants at the time of sale. Joseph Blatner and Scott Logan of Marcus & Millichap’s Portland, Ore., office represented the seller in the transaction.

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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.

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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.

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440-stump-pa

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.

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everwest-fairfield-nj

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.

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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.

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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.

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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.

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American-metro-center-nj

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.

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