Acquisitions

Gilroy Ventures Buys 125,597 SF Vehicle Showroom in Gilroy, California for $13.8M

by Amy Works May 20, 2024

GILROY, CALIF. — Gilroy Ventures LLC, a real estate investor, has acquired a commercial building on 13.7 acres in Gilroy, approximately 30 miles southeast of San Jose. Gilroy JRV LLC sold the asset for $13.8 million. Located at 7900 Arroyo Circle, a recreational vehicle business currently uses the 125,597-square-foot property as an indoor/outdoor showroom. The flexible property can also accommodate a variety of commercial uses, such as showroom, retail, warehouse and automotive. Miki Correa of Cushman & Wakefield, along with CBRE’s Rick Shaffer, Marie Anderson and John Shaffer, represented the seller in the transaction.

May 20, 2024

Acquisitions Hospitality Massachusetts Northeast

Hunter Hotel Advisors Negotiates Sale of Two Boston-Area Properties Totaling 205 Rooms

by Taylor Williams May 20, 2024

PEABODY, MASS. — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the Hampton Inn and Homewood Suites Boston Peabody, two adjacent properties totaling 205 rooms that are located on the northeastern outskirts of Boston. Spencer Davidson and Sophia Pittaluga of Hunter Hotel Advisors represented the seller, an undisclosed institutional investment firm, in the transaction. The buyers were both affiliates of regional owner-operator Giri Hotel Management. The sales price was not disclosed.

May 20, 2024

Acquisitions Illinois Midwest Retail

PMAT Acquires 82,660 SF Shops of Romeoville in Suburban Chicago

by Kristin Harlow May 20, 2024

ROMEOVILLE, ILL. — The PMAT Cos. has acquired the Shops of Romeoville, an 82,660-square-foot retail center in the Chicago suburb of Romeoville. The purchase price was undisclosed. Tenants include TJ Maxx, Petco and Discovery Clothing. The lender-owned property had significant remaining instability and was 65 percent occupied with several month-to-month and short-term leases at the time of acquisition, according to PMAT. Within months of closing, PMAT renewed existing anchor tenancy and executed a new long-term lease with Ross Dress for Less. PMAT also worked with the Village of Romeoville to structure incentives to attract the right tenant mix for the remaining gaps. PMAT plans to reinvest in the site in conjunction with the village and to work with the existing retailers to achieve long-term commitments while bringing in new tenants.

May 20, 2024

Acquisitions Industrial New Jersey Northeast

SNS Real Estate Buys 30,266 SF Vacant Warehouse in Pennsauken, New Jersey

by Taylor Williams May 20, 2024

PENNSAUKEN, N.J. — An affiliate of SNS Real Estate Investment Group has purchased a 30,266-square-foot vacant warehouse in the Northern New Jersey community of Pennsauken. According to LoopNet Inc., the building at 7101 Airport Highway was constructed in 1962 and features a clear height of 14 feet and three exterior dock doors. The site also houses a fenced-in yard area for outdoor storage. Ian Richmond of Colliers brokered the deal. The seller and sales price were not disclosed.

May 20, 2024

Acquisitions Industrial Texas

Partners Real Estate Brokers Sale of 13,500 SF Industrial Building in Dallas Design District

by Taylor Williams May 17, 2024

DALLAS — Partners Real Estate has brokered the sale of a 13,500-square-foot industrial building in the Dallas Design District. According to LoopNet Inc., the building at 155-165 Cole St. was originally constructed in 1966. Hanes Chatham Jr. and Graham Dressel of Partners represented the buyer, P4 Holdings, in the transaction. The seller and sales price were not disclosed.

May 17, 2024

Acquisitions District of Columbia Multifamily Southeast

CIM Group Sells 276-Unit Argonne Apartments in D.C.

by John Nelson May 17, 2024

WASHINGTON, D.C. — The CIM Group has sold The Argonne, a 276-unit apartment community located at 1629 Columbia Road NW in Washington, D.C.’s Adams Morgan neighborhood. The buyer and sales price were not disclosed. The eight-story brick property was originally built in 1923. Under CIM Group’s management, The Argonne has undergone upgrades to the building’s lobby, common areas, corridors and façade. Today, the property features floor plans ranging from studios to three-bedroom apartments, as well as a swimming pool, fitness center, conference center, yoga room and a dog park.

May 17, 2024

Acquisitions Office Southeast Tennessee

NAI Nashville Stanton Brokers $7M Sale of Office Building in Antioch, Tennessee

by John Nelson May 17, 2024

ANTIOCH, TENN. — NAI Nashville Stanton Group has brokered the $7 million sale of a 44,150-square-foot office building located at 5255 Hickory Hollow Parkway in Antioch, about 13 miles southeast of Nashville. An entity doing business as NCT LLC purchased the property from Rocketown of Middle Tennessee, a faith-based organization that operated the building as a live concert venue and skate park, according to the seller’s website. Ben Claybaker and Brandon Hoop of NAI Nashville Stanton Group represented the seller in the transaction. Sheri Ma of MM Realty and Management represented the buyer.

May 17, 2024

Acquisitions Massachusetts Northeast

Newmark Negotiates $39.1M Sale of Office, Retail Building in Boston’s Back Bay Area

by Taylor Williams May 17, 2024

BOSTON — Newmark has negotiated the $39.1 million sale of a 26,000-square-foot office and retail building located at 801 Boylston St. in Boston’s Back Bay neighborhood. Fidelity Investments has served as the anchor tenant of the building, which according to LoopNet Inc. was constructed in 1998 and renovated in 2018, since 1999. Robert Griffin, Edward Maher, Matthew Pullen, Paul Penman and Jonathan Martin of Newmark represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Casey O’Brien of Newmark provided financial analysis support for the deal.

May 17, 2024

Acquisitions Delaware Industrial Northeast

Marcus & Millichap Brokers $7.4M Sale of Industrial Portfolio in Seaford, Delaware

by Taylor Williams May 17, 2024

SEAFORD, DEL. — Marcus & Millichap has brokered the $7.4 million sale of a portfolio of two industrial buildings totaling 124,784 square feet in Seaford. The portfolio spans 23 acres, including a 10-acre tract that is undeveloped. Bob Johnson and Paul Johnson of Marcus & Millichap represented the seller, a Maryland-based limited liability company, in the transaction. Timothy Stephenson Jr. of Marcus & Millichap assisted in closing the deal as the broker of record, as did John McClellan and Kelly Jeter of SVN-Miller Commercial Real Estate.

May 17, 2024

Acquisitions Massachusetts Northeast Restaurant Retail

Boylston Properties, Wilder Welcome Seven New Tenants to Arsenal Yards in Metro Boston

by Taylor Williams May 17, 2024

WATERTOWN, MASS. — Boylston Properties and Wilder Cos. have welcomed seven new tenants to Arsenal Yards, a mixed-use destination located roughly 10 miles outside Boston that is a redevelopment of a former mall. J.Crew Factory and Jersey Mike’s Subs are now open at the property. Additionally, Butterbird, Splash and Dash, Marvelous Cuts, Medium Rare and Squeeze Massage are scheduled to open later this year. Arsenal Yards totals more than 1 million square feet and features life sciences, residential and hospitality uses, in addition to retail and restaurant space.

May 17, 2024

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