Acquisitions

Private Investor Sells Gas Station, Convenience Store, Car Wash Asset in Highland, California for $9.5M

by Amy Works November 7, 2024

HIGHLAND, CALIF. — A San Diego-based investor has completed the disposition of a Chevron gas station, ExtraMile convenience store and car wash property located at 27981 Greenspot Road in Highland. G&M Oil Co., the largest Chevron franchisee in California with more than 200 locations, purchased the Highland property for $9.5 million. Victor Buendia of Progressive Real Estate Partners represented the seller, while Scott Olson of C-Store Realty represented the buyer in the all-cash transaction. Built in 2012, the property features an eight-pump Chevron station, a self-service express car wash and a 3,000-square-foot ExtraMile convenience store.

November 7, 2024

Acquisitions Affordable Housing California Multifamily New York Northeast Seniors Housing Top Stories Western

Standard Communities Acquires $1B Affordable Housing Portfolio Across Four States

by Katie Sloan November 7, 2024

LOS ANGELES AND NEW YORK CITY — Standard Communities has acquired a portfolio of 60 affordable housing properties totaling approximately 6,000 units for $1 billion. The transaction is the largest affordable housing acquisition this year, according to the firm. The portfolio includes both traditional multifamily and seniors housing communities and locations across four states, growing the firm’s portfolio in California to 11,000 units and expanding its presence to three new states: Arizona, Colorado and Texas. Properties include the Oaks at Georgetown multifamily community in Georgetown, Texas; Harmony Court, an affordable seniors living community in Redondo Beach, Calif.; and Maroon Creek Apartments in Aspen, Colo. The undisclosed seller developed many of the properties around 2002. Standard plans to invest over $30 million in capital improvements and deferred maintenance across the portfolio. No residents will be displaced during renovations and the communities will remain within the affordable price point, according to the new ownership. An increasing number of households have been designated as “cost burdened” over the past year, leading to a push from policymakers to increase the amount of available affordable housing, according to a recent report by Yardi Matrix. In 2024, 69,600 units are expected to come on line with …

November 7, 2024

Acquisitions Development Retail Texas

DuWest Realty Negotiates Sale of 8.6-Acre Retail Development Site in Fort Worth

by Taylor Williams November 6, 2024

ROCKWALL, TEXAS — Locally based brokerage firm DuWest Realty has negotiated the sale of an 8.6-acre retail development site in Fort Worth. Blazing Hospitality Group purchased the land at the southeast corner of Academy Boulevard and White Settlement Road with plans to develop a shopping center that will feature multi-tenant retail buildings, as well as standalone restaurant and service retail spaces. The seller was Core Spaces. Giancarlo Carriero and Taylor Cluff of DuWest Realty co-brokered the deal.

November 6, 2024

Acquisitions Industrial South Carolina Southeast

JLL Arranges Sale of New 1.1 MSF Industrial Building Near Charleston

by John Nelson November 6, 2024

RIDGEVILLE, S.C. — JLL has arranged the sale of Building D within Camp Hall Commerce Center, a 6,800-acre industrial park in the Charleston industrial market. The 1.1 million-square-foot facility is located at 2274 Volvo Car Drive in Ridgeville and was fully leased to an unnamed global car manufacturer at the time of sale. Completed in 2023, the cross-dock building features 40-foot clear heights, 208 dock-high doors, four drive-in doors, 84 dock levelers, 847 auto parking spaces and 804 trailer storage spaces. Rockpoint, a Boston-based real estate private equity firm, and Portman Industrial sold the property to Stockbridge for an undisclosed price. JLL represented the sellers in the transaction.

November 6, 2024

11-Malcolm-Hoyt-Drive-Newburyport-Massachusetts

Acquisitions Industrial Massachusetts Northeast

Marcus & Millichap Brokers $4.2M Sale of Industrial Building in Newburyport, Massachusetts

by Taylor Williams November 6, 2024

NEWBURYPORT, MASS. — Marcus & Millichap has brokered the $4.2 million sale of a 38,500-square-foot industrial building in Newburyport, a northern suburb of Boston. The building at 11 Malcolm Hoyt Drive was originally constructed in 1986 and later expanded and was fully leased to Journeyman Press at the time of sale. Harrison Klein, Mattias Edenkrans and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

November 6, 2024

Acquisitions Florida Mixed-Use Retail Southeast

Linkvest Capital, MMG Equity Acquire Mixed-Use Destination in Downtown Homestead, Florida

by John Nelson November 6, 2024

HOMESTEAD, FLA. — Linkvest Capital and MMG Equity Partners have acquired Homestead Station, a mixed-use entertainment destination located on 4.8 acres at 4 S. Krome Ave. in downtown Homestead, about 39 miles south of Miami. LV Lending previously held a first mortgage on the property, and the acquisition was completed through a deed in lieu of foreclosure to Linkvest Capital and MMG Equity. Completed in 2019, Homestead Station is anchored by Evo Entertainment + IMAX, an entertainment venue that features cinemas and bowling, as well as numerous retail and dining establishments. The center also features an 1,100-space parking garage. There is currently 18,000 square feet of vacant space available to lease, according to the new owners.

November 6, 2024

Acquisitions Midwest Wisconsin

Aquarian Acquires Majority Stake in PACE Equity

by Kristin Harlow November 6, 2024

MILWAUKEE — Aquarian Holdings has acquired a majority stake in Milwaukee-based PACE Equity, a provider of funding for commercial property assessed clean energy (C-PACE) projects. As part of its investment, Aquarian will provide up to $1 billion of financing that enables PACE Equity to significantly scale its capacity and expand the reach and size of its debt financing projects. Aquarian’s Strategic Opportunities team led the transaction. DLA Piper served as legal advisor to Aquarian in connection with the transaction, and Gibson, Dunn & Crutcher LLP served as legal advisor to PACE Equity. Guggenheim Securities LLC was the financial advisor to PACE Equity. Aquarian maintains approximately $19.5 billion in assets under management.

November 6, 2024

Acquisitions Development Michigan Midwest

Kintsugi Village Buys Former School Property in Detroit’s Corktown Neighborhood for $3.4M

by Kristin Harlow November 6, 2024

DETROIT — Nonprofit organization Kintsugi Village has purchased the former St. Vincent Middle School property in Detroit’s Corktown neighborhood for $3.4 million. Next Cities Investment Group sold the property, which also included a vacant lot next to the building for a total of 1.6 acres. Constructed in 1962, the school building totals roughly 38,000 square feet. It closed in 2010 and then operated as a coworking space. The facility has been vacant for the last four years. Kintsugi Village is working with Sachse Construction and plans to break ground soon on converting the property into an early childhood education center, artist residency and retreat center. The nonprofit expects to open in fall 2025.

November 6, 2024

Acquisitions Midwest Restaurant Retail Wisconsin

Marcus & Millichap Arranges $2.1M Sale of Arby’s-Occupied Property in West Allis, Wisconsin

by Kristin Harlow November 6, 2024

WEST ALLIS, WIS. — Marcus & Millichap has arranged the $2.1 million sale of a 1,544-square-foot restaurant property net leased to Arby’s in the Milwaukee suburb of West Allis. Constructed in 2004, the building is located at 10743 W. National Ave. Damien Yoder and Madison Harman of Marcus & Millichap’s The Yoder-Harman Group represented the buyer, 12947 Woodbridge Street LLC, a private investor. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.

November 6, 2024

Acquisitions Colorado Industrial Western

Tepuy Properties Buys Glass Recycling Facility in Broomfield, Colorado for $4.7M

by Amy Works November 6, 2024

BROOMFIELD, COLO. — Tepuy Properties has acquired an industrial facility located at 11331 Dillon Road in Broomfield for $4.7 million. Jaime Pletcher of Gibbons White represented the buyer, while Matthew Trone of Cushman & Wakefield represented the undisclosed seller in the deal. Glass to Glass Denver, a subsidiary of Owens-Illinois, occupies the 27,116-square-foot glass recycling facility. The tenant specializes in transforming post-consumer glass into high-quality, reusable glass for manufacturers. The company processes a variety of glass materials, including bottles, jars and containers, for reuse in manufacturing new glass products. Built in 1973, the facility is located off Highway 287 and E-470, providing direct access to Denver International Airport.

November 6, 2024

Newer Posts

Older Posts