Acquisitions

American Healthcare REIT Acquires Four Seniors Housing Communities in Washington State

by Amy Works September 12, 2024

BATTLE GROUND, PORT ORCHARD AND WENATCHEE, WASH. — Cogir Management USA Inc. and American Healthcare REIT (AHR) have expanded their relationship to 14 communities with AHR’s acquisition of four communities in the state of Washington. AHR acquired Mallard Landing in Battle Ground, Orchard Pointe in Port Orchard and Blossom Valley and Blossom Creek in Wenatchee. This portfolio includes a total of 207 assisted living and memory care units. With this acquisition, Cogir now operates communities in Washington, California, Utah and North Carolina for AHR. Cogir also now manages 22 communities in Washington and 84 communities across the United States.

September 12, 2024

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $4M Purchase of Two-Building Multifamily Portfolio in Denver

by Amy Works September 12, 2024

DENVER — NorthPeak Commercial Advisors has arranged the acquisition of two multifamily buildings in Denver. The assets traded for $4 million, or $181,818 per unit. The names of the seller and buyer were not released. Located at 1050-1058 Pearl St., the properties offer 22 apartments in total across 17,258 square feet in space. Dan Hawthorne of NorthPeak Commercial Advisors represented the undisclosed buyer in the deal.

September 12, 2024

Acquisitions Retail Texas

Ziff Real Estate Partners Sells 97,682 SF Shopping Center in San Antonio

by Taylor Williams September 11, 2024

SAN ANTONIO — South Carolina-based investment firm Ziff Real Estate Partners has sold Castle Hills Market, a 97,682-square-foot shopping center in the northern-central area of San Antonio. According to LoopNet Inc., the center was built in 1986 and is home to tenants such as Allstate Insurance Co., Alamo Bridal, Edward Jones and Rainbow Language Academy. The buyer was an undisclosed Dallas-based investor. John Indelli, Whitney Snell, Chris Gerard, Ryan West and Gianna New of JLL brokered the deal. Ziff acquired the property in 2020 and implemented a value-add program prior to the sale.

September 11, 2024

Acquisitions Retail Southeast Tennessee

Poag Acquires 400,000 SF Macy’s Department Store at Oak Court Mall in Memphis

by John Nelson September 11, 2024

MEMPHIS, TENN. — Poag Development Group has purchased a 400,000-square-foot Macy’s at Oak Court Mall, an enclosed regional mall in Memphis that opened in 1988. Memphis-based Poag purchased the department store for $7 million in a joint venture with a group of local investors that purchased Oak Court Mall in December 2023. New York City-based Macy’s sold the store to the Poag-led investment group in a sale-leaseback structure. Poag, which also recently purchased the 1.3 million-square-foot RiverTown Crossings in Grandville, Mich., plans to work with JLL to maximize the potential of Oak Court Mall. Future plans for the mall were not disclosed.

September 11, 2024

Acquisitions Alabama Industrial Southeast

TruCore Purchases 96,000 SF Industrial Facility in Birmingham

by John Nelson September 11, 2024

BIRMINGHAM, ALA. — TruCore Investments has purchased a 96,000-square-foot, Class B industrial facility located at 3230 Messer Airport Highway in Birmingham. The property had roughly 60,000 square feet of availability at the time of sale. The seller and sales price were not disclosed. Built in 1979, the concrete structure is situated on 4.4 acres and features 14 drive-in doors, 30 dock doors and 48 parking spaces. TruCore plans to improve the facility functionally and cosmetically, including an exterior refresh, as well as boost occupancy. The property represents TruCore’s first acquisition in Birmingham.

September 11, 2024

Acquisitions North Carolina Retail Southeast

CenterSquare Buys 43,044 SF Retail Center in Charlotte

by John Nelson September 11, 2024

CHARLOTTE, N.C. — CenterSquare has bought Olde Lancaster Town Center, a 43,044-square-foot retail center located in Charlotte. Tenants at the property, which was fully leased at the time of sale, include My Salon Suites, Aqua Tots, Lee’s Hoagies, Chesterbrook Academy and Eye Level Learning. The new ownership plans to implement improvements at the property including new paint, awnings, LED lights, string lights, patio seating, roofs, updated landscaping and signage enhancements.

September 11, 2024

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 49,172 SF Industrial Flex Building in Somerset, New Jersey

by Taylor Williams September 11, 2024

SOMERSET, N.J. — Cushman & Wakefield has brokered the sale of a 49,172-square-foot industrial flex building in the Northern New Jersey community of Somerset. The building at 28 Worlds Fair Drive sits on 4.5 acres, features two side doors and 152 car parking spaces and was 40 percent leased to four tenants at the time of sale. Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the undisclosed seller in the transaction and procured the buyer, SL Industrial Partners.

September 11, 2024

Acquisitions Illinois Midwest Retail

JLL Brokers $18.7M Sale of Hawthorne Commons Retail Property in Vernon Hills, Illinois

by Kristin Harlow September 11, 2024

VERNON HILLS, ILL. — JLL Capital Markets has brokered the sale of Hawthorne Commons in the Chicago suburb of Vernon Hills for $18.7 million. Northwestern Medicine anchors the 48,942-square-foot retail and medical property. Completed in 2016, the two-story building is 88 percent leased to eight tenants and is located at 850 N. Milwaukee Ave. Alex Sharrin, Keely Polcyznski and Michael Nieder of JLL represented the seller, a joint venture between Centrum Realty and Hubbard Street Group. Elliott Bay Capital Trust, in a joint venture with Pantheon, purchased the asset.

September 11, 2024

Acquisitions California Loans Retail Western

JLL Arranges JV Equity for $95M Acquisition of Plant Shopping Center in San Jose

by Amy Works September 11, 2024

SAN JOSE, CALIF. — JLL Capital Markets has arranged joint venture equity for the $95 million acquisition of The Plant, a regional power center located at 1 Curtner Ave. in San Jose. Geoff Tranchina, Gleb Lvovich, Eric Katherin, Daniel Tyner and Conor Quinn of JLL’s Investment and Sales Advisory team worked on behalf of the operator, Milan Capital Management, to arrange the equity investment through Arc Capital Partners. Spanning 35.5 acres in Silicon Valley, the 367,869-square-foot shopping center was built in 2008. At the time of sale, the property was 64 percent occupied. Current tenants include Best Buy, Ross Dress for Less, PetSmart, Ulta Beauty, Off Broadway, Starbucks Coffee, IHOP, McDonald’s, Panda Express, El Pollo Loco, Chase Bank and Five Guys.

September 11, 2024

Acquisitions California Multifamily Western

USA Properties Fund Sells Multifamily Community in Simi Valley, California for $95M

by Amy Works September 11, 2024

SIMI VALLEY, CALIF. — USA Properties Funds has completed the disposition of The Landing at Arroyo, a multifamily property in the Los Angeles suburb of Simi Valley. A private multifamily investor purchased the 212-unit community for $95 million, or $448,113 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 2022 on 10 acres, The Landing at Arroyo offers apartments spread across seven buildings, a swimming pool, spa, game room, fitness center, coworking space and central package lockers for deliveries. Apartments feature washers/dryers, stainless steel appliances, quartz countertops and designer plumbing and lighting fixtures.

September 11, 2024

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