Acquisitions

Ackerman Sells 105,800 SF Warehouse in Metro Atlanta for $5.3M, Buyer Planning Self-Storage Conversion

by Amy Works October 30, 2018

TUCKER, GA. — Ackerman & Co. has sold an industrial building, located at 2232 Mountain Industrial Blvd. within Stone Mountain Industrial Park in Tucker. Mequity Cos. purchased the property for $5.3 million. The buyer, an Atlanta-based real estate development and investment firm, is redeveloping the 105,800-square-foot warehouse into a build-to-suit project for CubeSmart. The climate-controlled self-storage facility is slated for completion by year’s end. Brett Buckner, Jimmy Stevens and Major Martin of Ackerman & Co. provided in-house representation for the seller. Ackerman & Co. originally acquired the 4.1 million-square-foot Stone Mountain industrial portfolio in 2015.

October 30, 2018

Acquisitions California Industrial Western

IDS Real Estate Group Buys 544,864 SF Industrial Portfolio in San Diego

by Amy Works October 30, 2018

SAN DIEGO — An affiliate of IDS Real Estate Group has purchased a four-building industrial portfolio within Siempre Viva Business Park in San Diego’s Otay Mesa submarket, for an undisclosed price. Situated on 28.1 acres, the 99 percent-leased portfolio is located at 8690 Kerns St., 2660 Sarnen St. and 8863 and 9043 Siempre Viva Road. Totaling 544,864 square feet, the properties feature 24- to 32-foot clear heights, wide truck courts, loading via 98 dock-high and 14 grade-level doors, an above-standard parking ratio, and low office built-out. The properties were originally constructed between 2001 and 2003. Nick Frasco, Nick Psyllos and Andrew Briner of HFF represented the undisclosed seller in the deal.

October 30, 2018

Acquisitions Midwest Office Ohio

Zamir Equities Acquires 559,299 SF Office Tower in Cleveland

by Kristin Harlow October 30, 2018

CLEVELAND — Zamir Equities LLC has acquired 1111 Superior Avenue, a 559,299-square-foot office tower in downtown Cleveland. While the purchase price is not available, The Plain Dealer reports that Zamir took out a $46 million mortgage on the property. The property is positioned along the city’s main thoroughfare and overlooks Lake Erie. The 28-story tower was renovated in 2014. Amenities include a conference facility, fitness facility, yoga room and David’s Deli. Anchored by the Cleveland Metropolitan School District, the property is 83.4 percent leased to tenants such as Asurint and MetLife Services & Solutions. Jaime Fink, Jeffrey Bramson, John Merrill, Bryan Rosenberg and Patrick Shields of HFF represented the seller, American Landmark Properties Corp. The team also procured the buyer.

October 30, 2018

Acquisitions Office Utah Western

Terracom Acquires 120,000 SF Office Campus in Provo, Utah

by Amy Works October 30, 2018

PROVO, UTAH — Terracom has purchased The Park at Riverwoods, an office campus situated on 9.2 acres in Provo. Brentwood Provo sold the property for an undisclosed price. The two-building, 120,000-square-foot property formerly served as headquarters for Ancestry.com. Brandon Fugal, Josh Smith and James Bullington of Colliers International represented both parties in the transaction.

October 30, 2018

Acquisitions California Office Western

Gemdale USA, Lincoln Property Co. Sell 56,179 SF Office Building in Downtown San Francisco

by Amy Works October 30, 2018

SAN FRANCISCO — Gemdale USA Corp. and Lincoln Property Co. have completed the sale of 500 Pine, an office building in downtown San Francisco. Heitman acquired the property on behalf of an affiliate for an undisclosed price. Michael Leggett, Gerry Rohm, Ben Bullock, David Dokko and Thomas Foley of HFF represented the seller and procured the buyer. Completed in 2017, the 56,179-square-foot building is LEED-Gold certified and features open floor plans, floor-to-ceiling window lines, a rooftop balcony and on-site parking with a bike room and showers. CVS/pharmacy and Blend fully lease the five-story building.

October 30, 2018

Acquisitions Illinois Industrial Midwest

Green Door Capital, Citimark Purchase 447,059 SF Industrial Portfolio in Metro Chicago for $38M

by Kristin Harlow October 30, 2018

CHICAGO — A partnership between Green Door Capital and Citimark Inc. has purchased a seven-property industrial portfolio in metro Chicago for $38 million. The properties, totaling 447,059 square feet, include: 5120 Prairie Stone Parkway in Hoffman Estates; 1124 Tower Road and 1555-1559 Brasswood Road in Schaumburg; 3225 Corporate Drive and 3301-3301 Corporate Drive in Joliet; 454 Scott Drive in Bloomingdale; and 3720 Prairie Lake Court in Aurora. At the time of sale, the portfolio was 93 percent leased to 10 different tenants. Kurt Sarbaugh, Robin Stolberg, Stephen Skok and Sam Berry of HFF marketed the portfolio on behalf of the seller, Globe Corp.

October 30, 2018

Acquisitions Data Centers Industrial Midwest Ohio

Romans Properties Brokers $9.3M Sale of Data Center in Canton, Ohio

by Kristin Harlow October 30, 2018

CANTON, OHIO — Romans Properties has brokered the sale of a 30,000-square-foot data center in Canton for $9.3 million. The property, located at 4726 Hills and Dales Road, is fully leased to Secure Data 365. Chriss Orr of Romans represented the buyer, an institutional client. The seller was not disclosed.

October 30, 2018

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Negotiates $5.4M Sale of Retail Property in Sewell, New Jersey

by David Cohen October 29, 2018

SEWELL, N.J. — Marcus & Millichap has negotiated the $5.4 million sale of a 2,000-square-foot retail property net leased to Wawa in Sewell. The property is located at 485 Woodbury Glassboro Road. The sales price represents a 4.5 percent capitalization rate. Derrick Dougherty and Scott Woodard of Marcus & Millichap represented the buyer, a limited liability company, in the transaction. The seller was undisclosed.

October 29, 2018

Acquisitions Industrial Northeast Pennsylvania

Markward Group Brokers Sale of 20,096 SF Industrial Building in Pennsylvania

by David Cohen October 29, 2018

EASTON, PA. — Markward Group has brokered the sale of a 20,096-square-foot industrial building in Easton. The sales price was undisclosed. The property is located at 1298 Spruce St. Matt Macdonald of Markward Group represented the seller, Ealer Realty Corp., in the transaction. VM Realty Group represented the buyer, GLCJ Holdings LLC. The building was the former location of Ealer Electric and United Electric Supply.

October 29, 2018

Acquisitions Multifamily Texas

SVN Negotiates Sale of 155-Unit Apartment Community in North Houston

by Taylor Williams October 29, 2018

HOUSTON — SVN | Investment Sales Group has negotiated the sale of The Alara, a 155-unit apartment community in north Houston. The Class B property offers one- and two-bedroom units and amenities such as a pool, playground and a business center. Mark Allen and Todd Franks of SVN represented the seller and procured the buyer, both of which were out-of-state investors, in the transaction.

October 29, 2018

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