Acquisitions

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

601-611-619-S-Fairfax-Ave-Los-Angeles-CA

Acquisitions California Development Multifamily Retail Western

BOLOUR Buys Retail Property in Los Angeles for 120-Unit Multifamily Redevelopment

by Amy Works July 30, 2024

LOS ANGELES — BOLOUR Associates has acquired a site with three retail buildings in the Los Angeles Mid City submarket for $6 million. Located at 601, 611 and 619 S. Fairfax Ave., the buildings offer more than 11,500 square feet of net rentable area, including a former 99 Cents Only store. BOLOUR purchased the 99 Cents Only property through a bankruptcy auction after Number Holdings Inc., the parent company of 99 Cents Only Stores LLC, filed for Chapter 11 bankruptcy earlier this year and closed all of its stores. The company will renovate the three buildings to cater to gallery, design, furniture and showroom uses. In the long-term, BOLOUR plans to redevelop the site into 120 multifamily residential units. Hilco Global represented the undisclosed seller, while BOLOUR was self-represented in the deal.

July 30, 2024

Acquisitions California Restaurant Retail Western

Marcus & Millichap Brokers Sale of 3,200 SF North Park Retail Property in San Diego

by Amy Works July 30, 2024

SAN DIEGO — Marcus & Millichap has arranged the sale of North Park Retail, a restaurant property at 2884 University Ave. in San Diego’s North Park neighborhood. Carlos Partners LLC sold the asset to 1295 University Family LP for $1.9 million. Built in 1948, North Park Retail features 3,200 square feet of space. The single-tenant property was renovated in 2014 for Saiko Sake and Sushi Bar’s tenant build out. After operating for 10 years, Saiko Sushi will close when its lease expires in October. The buyers plan to lease out the property after Saiko Sake and Sushi Bar’s vacates. Ross Sanchez and Nick Totah of The Totah Group of Marcus & Millichap represented the seller, while Nate Benedetto of Next Wave Commercial procured the buyer in the transaction.

July 30, 2024

Acquisitions Florida Restaurant Retail Southeast

Orion Acquires Net Lease Retail Portfolio Located in Florida, Texas, Illinois for $50M

by John Nelson July 30, 2024

MIAMI— Florida-based Orion Real Estate Group has acquired a net lease retail portfolio located in Florida, Texas and Illinois for $50 million. An undisclosed family office sold the portfolio, which totals 94,000 square feet across 12 properties. Tenants at the portfolio — which include 11 single-tenant properties and two two-tenant properties — include banks, a fitness center, pharmacy, urgent care facility and a quick-service restaurant. The portfolio has 6.5 years of weighted average remaining lease term. Alex Sharrin, Jeff Cicurel, Eric Osika and Noel O’Donnell of JLL represented the seller in the transaction.

July 30, 2024

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