Acquisitions

900-W-2900-2950-3100-S-Salt-Lake-City-UT

Stos Partners Buys 279,233 SF Industrial Complex in Salt Lake City

by Amy Works July 31, 2024

SALT LAKE CITY — Stos Partners has entered the Salt Lake City market with the acquisition of an industrial complex located at 900 W. 2900/2950/3100 S in Salt Lake City for $35 million, or $118 per square foot. The name of the seller was not released. Stos Partners plans to immediately implement a capital improvement program to stabilize and re-tenant the asset. Situated on 14.5 acres, the 279,233-square-foot facility features 22-foot clear heights, 49 dock-high doors and 18 drive-in ground-level doors. Eli Priest, Jeff Heaton and Kyle Roberts of Newmark are handling leasing for the property. Alex Harrold of Mathews Real Estate represented Stos Partners in the off-market transaction.

July 31, 2024

Acquisitions Arizona Industrial Western

LBA Logistics Sells University Logistics Center in Tempe, Arizona for $27.5M

by Amy Works July 31, 2024

TEMPE, ARIZ. — LBA Logistics has completed the disposition of University Logistics Center, an industrial and logistics building on nine acres in Tempe. Setna iO and Setnix, an owner/occupier, acquired the asset for $27.5 million. Located at 1345 S. 52nd St., the 112,300-square-foot facility features 3,500 square feet of office space, 32-foot clear heights, three dock-high doors, 10 drive-in load doors, three truck wells, a concrete truck court, 18 new windows, storefront entry for will call, new LED lighting for the interior space and parking areas, secured parking and trailer storage and multiple points of ingress/egress. Additionally, the property offers 494 parking spaces. The buyer plans to use the facility to expand its operations, which focuses on aftermarket aircraft parts supply and high-tech airplane parts machining and repair. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield represented the seller, while Todd Hamilton of Citywide Commercial Real Estate, along with Denise Stain Chaimovitz of Entre Commercial Realty, represented the buyer in the deal.

July 31, 2024

Acquisitions Multifamily New Jersey Northeast

Hudson Atlantic Negotiates $20M Sale of Multifamily Property in Robbinsville, New Jersey

by Taylor Williams July 31, 2024

ROBBINSVILLE, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $20 million sale of Southside Lofts, a 64-unit multifamily property in the Central New Jersey community of Robbinsville. The seller, Sharbell Development, delivered the property in 2020. According to Apartments.com, Southside Lofts offers one- and two-bedroom units that range in size from 713 to 1,207 square feet and amenities such as a fitness center, lounge and a rooftop terrace. Adam Zweibel of Hudson Atlantic represented Sharbell Development in the transaction and procured the undisclosed buyer.

July 31, 2024

Acquisitions Indiana Industrial Midwest

JLL Brokers Sale of 639,829 SF Industrial Portfolio in Portage, Indiana

by Kristin Harlow July 31, 2024

PORTAGE, IND. — JLL Capital Markets has brokered the sale of Northwest Indiana Logistics Portfolio, a two-building industrial portfolio totaling 639,829 square feet in Portage. The sales price was undisclosed. The distribution centers were built in the early 2000s and are 97 percent leased to eight tenants. Building 1, located at 6525 Daniel Burnham Drive, totals 122,829 square feet and features a clear height of 25 feet, 13 dock-high doors and six drive-in doors. Building 2, situated at 6750 Daniel Burnham Drive, totals 517,000 square feet and features a clear height of 30 feet, 60 dock-high doors and four drive-in doors. The buildings are part of AmeriPlex at the Port, a 385-acre industrial park. John Huguenard, Ed Halaburt and Kurt Sarbaugh of JLL represented the confidential seller in the sale to Sperry Equities. Brian Walsh of JLL arranged a five-year, fixed-rate acquisition loan through New York Life Real Estate Investors.

July 31, 2024

Acquisitions Industrial Self-Storage Texas

LandPark Advisors Buys 350-Unit Self-Storage Facility in Tomball, Texas

by Taylor Williams July 30, 2024

TOMBALL, TEXAS — Locally based investment and management firm LandPark Advisors has purchased Sentinel Self Storage, a 350-unit facility located on a 4.7-acre site in the northwestern Houston suburb of Tomball. The facility, which opened in April, spans 80,195 net rentable square feet and features an automated security gate with key code access, roll-up doors, a manager’s office and video surveillance throughout the property. The seller and sales price were not disclosed.

July 30, 2024

Acquisitions Multifamily Texas

TMG Negotiates Sale of 100-Unit Apartment Complex in Paris, Texas

by Taylor Williams July 30, 2024

PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of The Regency, a 100-unit apartment complex in Paris, about 100 miles northeast of Dallas. Built in 1985, the property offers one-, two- and three-bedroom units as well as a pool, onsite laundry facilities and outdoor grilling and dining stations. Yonnic Land of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

July 30, 2024

Acquisitions Connecticut Multifamily Northeast

NEPCG Arranges Sale of 33-Unit Apartment Building in Norwalk, Connecticut

by Taylor Williams July 30, 2024

NORWALK, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the sale of The Overlook Apartments, a 33-unit multifamily building located in the southern coastal Connecticut city of Norwalk. According to Apartments.com, the building was completed in 2023 and offers one-, two- and three-bedroom units as well as a fitness center. Rich Edwards and Jeff Wright of NEPCG brokered the deal. The buyer and seller were not disclosed.

July 30, 2024

Acquisitions Midwest Missouri Retail

Cohen & Steers, Phillips Edison Acquire 121,000 SF Des Peres Corners Shopping Center Near St. Louis

by Kristin Harlow July 30, 2024

DES PERES, MO. — Cohen & Steers Income Opportunities REIT Inc. (CNSREIT), in partnership with Phillips Edison & Co. Inc. (PECO), has acquired Des Peres Corners in the western St. Louis suburb of Des Peres. The 121,000-square-foot, open-air shopping center was built in 2009. The property is 90 percent occupied and is anchored by a 74,000-square-foot Schnucks grocery store. The companies completed the acquisition through a joint venture targeting $300 million in equity that is owned 80 percent by CNSREIT and 20 percent by PECO. The joint venture will focus on acquiring open-air, grocery-anchored shopping centers.

July 30, 2024

Acquisitions Iowa Midwest Multifamily

CBRE Arranges Sale of 223-Unit PointeWest Apartment Homes in West Des Moines

by Kristin Harlow July 30, 2024

WEST DES MOINES, IOWA — CBRE has arranged the sale of PointeWest Apartment Homes, a 223-unit multifamily property in West Des Moines. The sales price was undisclosed. Built in 1989, the community features a range of one-, two- and three-bedroom floor plans averaging 904 square feet. Amenities include underground parking, an indoor pool and outdoor sauna, pickleball courts, a fitness center, indoor basketball court, game room, dog park and two picnic areas. Cy Fox, Ray Hamilton, Keith Collins and Danny Baker of CBRE represented the East Coast-based seller. California-based Canyon View Capital was the buyer.

July 30, 2024

Acquisitions Multifamily Washington Western

Security Properties Sells Woodstone Apartments in Bothell, Washington for $34.7M

by Amy Works July 30, 2024

BOTHELL, WASH. — Security Properties has completed the disposition of Woodstone Apartments, a multifamily property located at 16520 North Road in the Seattle suburb of Bothell. An undisclosed buyer acquired the asset for $34.7 million. Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper of CBRE represented the seller in the deal. Built in 1989 on 6.4 acres, Woodstone Apartments features 124 one-, two- and three-bedroom units, 86 percent of which are renovated. Community amenities include a pool, spa, fitness center, playground and clubhouse.

July 30, 2024

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