Acquisitions

AMS Acquisitions Begins Leasing 70,072 SF Office Building in Yonkers

by Alex Patton July 22, 2019

YONKERS, N.Y. — AMS Acquisitions has begun leasing 86 Main, a 70,072-square-foot, newly renovated office building in downtown Yonkers. The Class A, six-story building offers amenities such as a fitness center and a rooftop deck. Leasing starts at $24 per square foot and goes up to $40 per square foot. Space can be leased from five to 15 years. The building was originally built for Homes for America in 2005. AMS Acquisitions purchased the asset for $9.5 million in January 2018 from Madison Realty Capital.

July 22, 2019

Los-Alamitos-Corporate-Center-Los-Alamitos-CA

Acquisitions California Industrial Western

Pension Fund Advisors Acquires 685,588 SF Industrial Complex Near Los Angeles for $128.5M

by Amy Works July 22, 2019

LOS ALAMITOS, CALIF. — Alere, a pension fund advisor, has purchased Los Alamitos Corporate Center, an industrial complex located in Los Alamitos. Northwestern Mutual sold the asset for $128.5 million. Situated on 36.9 acres, the 17-building complex is located at 4332-4478 Cerritos Ave., 10541-10681 Calle Lee and 4392-4465 Corporate Center Drive. At the time of sale, the 685,588-square-foot asset was 98 percent leased to 82 tenants. The buildings range in size from 11,788 square feet to 134,186 square feet. Darla Longo, Barbara Perrier, Brett Hartzell, Rebecca Perlmutter Finkel, Eric Cox and Laird Perkins of CBRE represented the seller in the transaction.

July 22, 2019

Acquisitions Colorado Office Western

Cushman & Wakefield Brokers $14.3M Office Asset Sale in Metro Denver

by Amy Works July 22, 2019

HIGHLANDS RANCH, COLO. — Cushman & Wakefield has negotiated the sale of two office buildings located at 200 and 300 Plaza Drive within Highlands Ranch Business Park in Highlands Ranch, a southern suburb of Denver. A private partnership acquired the assets for $14.3 million, or $192 per square foot. Aaron Johnson and Jon Hendrickson of Cushman & Wakefield Denver’s Capital Markets Group facilitated the transaction. Combined the properties offer 74,778 square feet of multi-tenant office space. At the time of sale, the two buildings were 99 percent occupied. The buildings were constructed in 1997/1999 and renovated in 2008..

July 22, 2019

Acquisitions Arizona Multifamily Seniors Housing Western

Blueprint Arranges Sale of 103-Bed Skilled Nursing Facility in Tucson

by Amy Works July 22, 2019

TUCSON, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Santé of Tucson, a 103-bed short-term rehabilitation and transitional care facility in Tucson. The property was built in 2017, but struggled with occupancy and was placed into SEC receivership under the supervision of Thomas Seaman and Associates. Blueprint was brought on to market the property as a turnaround opportunity with a HUD assumption. A Chicago-based owner-operator that recently had success with another turnaround opportunity in Tucson bought the asset for an undisclosed price. The new owners rebranded the community as Sapphire Estates Rehab Centre. HUD approval for the loan assumption took approximately two months to complete, despite the government shutdown for part of the year. The Blueprint transaction team consisted of Amy Sitzman, Jacob Gehl and Humair Sabir.

July 22, 2019

Acquisitions Arizona Mixed-Use Multifamily Retail Western

LJ Mainstreet Holdings Acquires 45-Unit Apartment Property in Arizona

by Amy Works July 22, 2019

BUCKEYE, ARIZ. — Mesa, Ariz.-based LJ Mainstreet Holdings has purchased Main Street Lofts at Verrado, a multifamily property located at 21068 W. Main St. in Buckeye, a suburb of Phoenix. Omaha, Neb.-based Waitt Verrado LLC sold the asset for $5.2 million. Situated within the Verrado master-planned community, Main Street Lofts features 45 units averaging 994 square feet, as well as a CVS/pharmacy and Basha’s grocery on the ground floor. Matt Kolano and Charlie Steele of Jones Lang LaSalle of Phoenix represented the seller, while Chris Roach and Matt Roach of Colliers International in Arizona represented the buyer in the deal.

July 22, 2019

Acquisitions Industrial Michigan Midwest

SVN |Stewart Commercial Negotiates $3.8M Sale of Ann Arbor Industrial Property

by Kristin Harlow July 22, 2019

ANN ARBOR, MICH. — SVN |Stewart Commercial Group LLC has negotiated the sale of a 46,356-square-foot industrial property in Ann Arbor for $3.8 million. The building, located at 5500 S. State St., is net leased to Adaptive Energy LLC, a fuel cell manufacturer. Dan Stewart of SVN |Stewart marketed the property on behalf of the seller, MiPlace LLC. He also procured the buyer, JPL Ventures LLC.

July 22, 2019

Acquisitions Retail Texas

Disney Investment Group Arranges $17M Sale of Irving Shopping Center

by Taylor Williams July 19, 2019

IRVING, TEXAS — Dallas-based Disney Investment Group has arranged the $17 million sale of Towne North, a 124,289-square-foot shopping center in Irving. Anchored by El Rancho Supermarket, the property was 84 percent leased at the time of sale. David Disney and Adam Crockett of Disney Investment Group represented the seller, an entity controlled by HSM Equities, and procured the undisclosed buyer.

July 19, 2019

Acquisitions Retail Texas

CBRE Brokers Sale of 91,653 SF Retail Property in Bartlesville, Oklahoma

by Taylor Williams July 19, 2019

BARTLESVILLE, OKLA. — CBRE has brokered the sale of a 91,653-square-foot retail property located at 501 SE Washington Blvd. in Bartlesville, located north of Tulsa. Stuart Graham, Mark Inman and Kendra Roberts of CBRE represented the seller, BB2S Bartlesville LLC, in the transaction. The buyer, ECTS LLC, acquired the asset for approximately $2.5 million.

July 19, 2019

650-700-Pacific-Coast-Highway-El-Segundo-CA

Acquisitions California Office Western

Vella Group Acquires Boeing-Leased Office Asset Near Los Angeles for $50.8M

by Amy Works July 19, 2019

EL SEGUNDO, CALIF. — New York-based Vella Group has purchased a two-building office campus, located at 650 and 700 Pacific Coast Highway in El Segundo. A private family tenant-in-common sold the asset for $50.8 million. The eight-story property at 650 Pacific Coast Highway, built in 1962, features 121,484 square feet. The two-story building at 700 Pacific Coast Highway features 78,736 square feet. The site also includes 422 surface parking spaces. Boeing will occupy the entire 200,220-square-foot office campus through the end of 2020. Kevin Shannon, Ken White and Michael Moore of Newmark Knight Frank, along with Bill Bloodgood of CBRE, represented the seller, while Antony Arkle of Rodeo Realty represented the buyer in the transaction.

July 19, 2019

Acquisitions Oregon Retail Western

Overbay Development Co. Sells Wagner Mall, Pinebrook Plaza in Bend, Oregon

by Amy Works July 19, 2019

BEND, ORE. — Overbay Development Co. has completed the disposition of Wagner Mall and Pinebrook Plaza, two shopping centers located in Bend. Western Pacific Holdings acquired the both assets for an undisclosed price. Located at 1800 NE Third St., Wagner Mall features 108,818 square feet of retail space, including Albertsons, Rite Aid and Aaron’s as tenants. The Wagner Mall sale include the mall, large box spaces and the surrounding pad sites, totaling 9.35 acres. Located at 61155 Highway 97, the 59,509-square-foot Pinebrook Plaza is currently home to Albertsons and other retailers. Totaling 5.97 acres, the Pinebrook Plaza sale included the main building and a standalone Shari’s restaurant. Pat Kesgard and Kristie Schmitt of Compass Commercial Real Estate Services, along with John Keba and Holley Jensen of Compass Commercial Asset & Property Management, represented the seller. Russell Huntamer and Tom Standish, also of Compass Commercial Real Estate Services, represented the buyer in the transactions.

July 19, 2019

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