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Acquisitions

Southwest-Village-Reno-NV
AcquisitionsMultifamilyNevadaWestern

PacifiCap Properties Sells 332-Unit Multifamily Asset in Reno for $35.3M

by Amy Works

RENO, NEV. — Portland, Ore.-based PacifiCap Properties has completed the disposition of Southwest Village, a multifamily property located in Reno’s Old Southwest Reno neighborhood. A New York-based company acquired the property for $35.3 million, or $106,476 per unit. Constructed in 1972, the 14-building, controlled-access community features 332 apartments averaging 852 square feet, two swimming pools, three laundry facilities and 500 parking spaces. Kenneth Blomsterberg, Ryan Rife and Daniel Winrod of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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AcquisitionsCaliforniaRetailWestern

Northern California Investor Buys 185,000 SF Shopping Center in Manteca, California

by Amy Works

MANTECA, CALIF. — A Northern California-based family has purchased Stadium Center, a shopping center located at 2120 Daniels St. in Manteca. A Chicago-based REIT sold the property for an undisclosed price. The new owners have retained NAI Benchmark to manage the asset. The 185,000-square-foot shopping center is occupied by Famous Footwear, Mattress Firm, Queenbee Nails & Spa, Subway, Chili’s Bar & Grill, GameStop, Maurice’s, Ross Dress for Less, Supercuts, Jamba Juice, My Kid’s Dentist & Orthodontist, Round Table Pizza, Ulta Beauty, Jo-Ann Fabrics & Crafts, Old Navy, rue21, Wild Wings n’ Things, dressbarn, Justice, Ono Hawaiian BBQ, Stadium Dental Group, Eyebrow Arch, Panda Express and Starbucks Coffee.

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CircusTrix-Nampa-ID
AcquisitionsIdahoRetailWestern

Hanley Investment Arranges Sale of CircusTrix Trampoline Park in Metro Boise

by Amy Works

NAMPA, IDAHO — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant net-lease investment property, located at 1460 N. Happy Valley Road in Nampa. An East Coast-based real estate investment acquired the property from Atlanta-based RCG-Nampa LLC for an undisclosed price. The tenant, CircusTrix, is a developer, operator and franchisor of indoor active recreation parks. The facility combines super trampoline arrays with obstacle courses, foam pits, slacklines and trapezes. Eric Wohl, Austin Blodgett and Andrew Cunningham of Hanley Investment Group represented the seller, while the buyer was self-represented in the deal.

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9209-Telegraph-Rd-Pico-Rivera-CA
AcquisitionsCaliforniaLee & AssociatesRestaurantRetailWestern

Lee & Associates Brokers $1.2M Sale of Little Caesars Restaurant Asset in Pico Rivera, California

by Amy Works

PICO RIVERA, CALIF. — Lee & Associates has arranged the sale of a restaurant property, located at 9209 Telegraph Road in Pico Rivera. NLA Pico Rivera sold the property to Bellside Property Management for $1.2 million. The built-to-suit property was completed in late December for Little Caesars. Situated on 0.2 acres, the 1,252-square-foot building features a drive-thru. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Lee & Associates – Riverside represented the buyer in the deal.

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AcquisitionsCaliforniaRetailWestern

CalBay Development Acquires Burger King Drive-Thru in California for $1.9M

by Amy Works

ARCADIA, CALIF. — CalBay Development has purchased a drive-thru restaurant redevelopment site in Arcadia. An undisclosed seller sold the asset for $1.9 million. Totaling 30,000 square feet of land, the property features a 3,000-square-foot building with an expiring lease. The current tenant is Burger King. Rory Holdstock of Pinnacle Estate Properties brokered the transaction.

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Skyloft-Austin
AcquisitionsMultifamilyStudent HousingTexas

Nelson Partners Acquires Student Housing Property Near UT Austin for $100M

by Taylor Williams

AUSTIN, TEXAS — California-based investment firm Nelson Partners has acquired Skyloft, a student housing property located one block from the University of Texas (UT) at Austin, for $100 million. The newly built, 18-story community features 674 beds. Amenities include a rooftop pool, fitness center, marketplace, study lounges and full-meal vending machines. The property was 100 percent occupied at the time of sale and is 77 percent preleased for the 2019-2020 academic year. Marcus & Millichap Capital Corp. arranged a $66.1 million acquisition loan that carried a 10-year term and a fixed interest rate of 4.5 percent, for the transaction. 

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Arboretum-Crossing-Austin
AcquisitionsRetailTexas

World Class Property Acquires 191,760 SF Retail Power Center in Austin

by Taylor Williams

AUSTIN, TEXAS — World Class Property Co., an Austin-based investment firm headed by Nate Paul, has acquired Arboretum Crossing, a 191,760-square-foot regional power center in Austin. The property is situated on 20 acres at the intersection of three of Austin’s busiest thoroughfares. Tenants include Bed Bath & Beyond, World Market, Mattress Firm and Ferguson Enterprises. The seller was New York-based Kimco Realty Corp.

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AcquisitionsKansasMidwestMultifamily

Hamilton Zanze Acquires 272-Unit Apartment Community in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Hamilton Zanze has acquired the 272-unit Metcalf Village Apartments in Overland Park for an undisclosed price. The company plans to rebrand the community as Boulders at Overland Park Apartments. Built in 2017, the property spans 261,862 square feet. Amenities include a fitness center and a saltwater pool. Hamilton Zanze, a San Francisco-based real estate investment company, plans to improve outdoor lighting and landscaping. Mission Rock Residential will manage the asset. The seller was not disclosed.

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AcquisitionsIllinoisMidwestRetail

Quantum Brokers $5.4M Sale of Retail Building in Warrenville, Illinois

by Kristin Harlow

WARRENVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a multi-tenant retail building in Warrenville for $5.4 million. At the time of sale, the 18,000-square-foot property was 93 percent leased to Starbucks, Potbelly Sandwich Works, T-Mobile, Spotted Paw and Jazza Nails. Chad Firsel and Daniel Waszak of Quantum brokered the transaction. A Chicago-based private investor purchased the asset from a Chicago-based investment group.

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AcquisitionsIllinoisMidwestMultifamily

SVN Arranges $2.7M Sale of Multifamily Portfolio in Rockford, Illinois

by Kristin Harlow

ROCKFORD, ILL. — SVN Chicago Commercial has arranged the sale of a two-property multifamily portfolio in Rockford for $2.7 million. The properties, which total 79 units, include the neighboring Orchard Hills and Forest View. Cody Doran and Reid Bennett of SVN brokered the transaction. Buyer and seller information was not disclosed.

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