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Acquisitions

1555-Fiesta-Blvd-Gilbert-AZ
AcquisitionsArizonaNAIOfficeWestern

NAI Horizon Brokers $10.6M Sale of Office Building in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — NAI Horizon has arranged the sale of an office building located at 1555 N. Fiesta Blvd. in Gilbert. The Commerce Insurance Co. sold the property to Graduation Solutions for $10.6 million. The buyer will relocate its business to the 29,000-square-foot second floor of the Fiesta Boulevard office building. Woodside Homes occupies the first floor of the property. Don Morrow and Dylan Whitwer of NAI Horizon represented the seller, while Julie Hance of Rick Brandt Real Estate represented the buyer in the transaction.

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13920-W-Camino-Del-Sol-Sun-City-West-AZ
AcquisitionsArizonaHealthcareOfficeWestern

CBRE Negotiates $4.6M Sale of Medical Office Complex in Sun City West, Arizona

by Amy Works

SUN CITY WEST, ARIZ. — CBRE has arranged the sale of Sun West Medical Complex, a medical office property located at 13920 W. Camino Del Sol in Sun City West. Miami-based Creative Realty Group sold the property to a private buyer for $4.6 million. Built in 2001, the 17,484-square-foot complex was 92 percent occupied at the time of sale. Situated on 1.7 acres, the asset features 60 parking spaces and 16 covered spaces. Geoffrey Turbow, Gary Cornish and Nick Williams of CBRE’s Investment Properties represented the seller in the deal.

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AcquisitionsOfficeSoutheastVirginia

JLL Arranges Sale of 239,678 SF Ballston One Office Building in Arlington, Virginia

by John Nelson

ARLINGTON, VA. — JLL has arranged the sale of Ballston One, a 239,678-square-foot office building located at 4601 N. Fairfax Drive in Arlington, a suburb of Washington, D.C. Penzance purchased the building from UBS Realty Investors LLC for an undisclosed price. Matt Nicholson, Andrew Weir, Jim Meisel, Dave Baker, Kevin Byrd and Kameel Omar of JLL represented the seller in the transaction. Built in 1986, Ballston One is leased to a mix of federal government and private sector tenants. Amenities include a fitness center, conference rooms, restaurant and an onsite property management team, according to LoopNet Inc.

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AcquisitionsIndustrialNorth CarolinaSoutheast

Faropoint Purchases Three-Property Industrial Portfolio in Charlotte for $33M

by John Nelson

CHARLOTTE, N.C. — Faropoint has purchased a three-property industrial portfolio in Charlotte for $33 million. The infill assets include a 45,750-square-foot facility at 4112 Joe St., a 200,000-square-foot building at 2101 Westinghouse Blvd. and a 67,200-square-foot property at 9701 Brookford St.  Patrick Gildea, Robert Hardaway, Matt Smith, Grayson Hawkins, Anne Johnson, Bryan Crutcher, Trey Barry and Frank Fallon of CBRE represented the seller, Beacon Partners, in the transaction. Hoboken, N.J.-based Faropoint entered the Charlotte market earlier this year with the acquisition of a 56,846-square-foot facility at 10000 Industrial Drive in Pineville, N.C. Last year, Faropoint entered the Baltimore and Long Island industrial markets. Next year, the company plans to expand its footprint to the West Coast.

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AcquisitionsMarylandRetailSoutheast

KLNB Brokers $10.4M Sale of Edgewood Plaza Shopping Center in Metro Baltimore

by John Nelson

EDGEWOOD, MD. — KLNB has brokered the $10.4 million sale of Edgewood Plaza, a 76,000-square-foot shopping center located at 2204-2250 Hanson Road in Edgewood, about 28 miles northeast of downtown Baltimore. Food Lion and Dollar General have anchored the center since 1999 and 2004, respectively. Edgewood Plaza was 96 percent leased at the time of sale. The seller, Sandmar Properties, recently resurfaced the center’s parking lot, replaced the roof and repainted the façade. Chris Burnham, Andy Stape, Vito Lupo and Jake Furnary of KLNB represented the seller in the transaction. The buyer was an unnamed local investor.

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AcquisitionsOfficeTexas

Cushman & Wakefield Brokers Sale of 37,500 SF Industrial Building in North Houston

by Taylor Williams

HOUSTON — Cushman & Wakefield has brokered the sale of a 37,500-square-foot industrial building located at 431 Bammel Road in North Houston. According to LoopNet Inc., the building was constructed on 5.8 acres in 2015 and features four dock-high doors, two grade-level doors and 28-foot clear heights. Landon Williams, Katie Hargett and Coe Parker of Cushman & Wakefield represented the buyer, Greenbriar Properties, in the transaction. Mike Boyd, Greg Barra and Cory Grant of Boyd Commercial represented the undisclosed seller. The building was fully leased at the time of sale.

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AcquisitionsMidwestMissouriMultifamily

Berkadia Negotiates Sale of 120-Unit Multifamily Property in St. Louis

by Kristin Harlow

ST. LOUIS — Berkadia has negotiated the sale of Majestic Stove Lofts, a 120-unit multifamily property in St. Louis. The sales price was undisclosed. Located at 2017 Washington Ave. and built in 2006, the community was 96 percent occupied at the time of sale. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia represented the seller, St. Louis-based Regency Realty Co. LLC. The asset sold to a California-based buyer.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of Mattoon Marketplace Shopping Center in Southern Illinois

by Kristin Harlow

MATTOON, ILL. — Mid-America Real Estate Corp. has brokered the sale of Mattoon Marketplace, a community shopping center located in the southern Illinois city of Mattoon. The sales price was undisclosed. The property is 98 percent leased to tenants such as PetSmart, Dollar Tree, Cato, Hibbett Sporting Goods, Aspen Dental, Buffalo Wild Wings, Verizon and Shoe Sensation. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, United American Properties. Chase Properties was the buyer.

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53-Forest-Ave.-Greenwich-Connecticut
AcquisitionsConnecticutNortheastOffice

CBRE Arranges $15.5M Sale of Office Building in Greenwich, Connecticut

by Taylor Williams

GREENWICH, CONN. — CBRE has arranged the $15.5 million sale of a 43,985-square-foot boutique office building in the southern coastal Connecticut city of Greenwich. Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller, an entity managed by Collins Capital Partners LLC, in the transaction. The team also procured the buyer, HBN 53 Forest LLC, which is managed by regional owner HB Nitkin. The building was 82 percent leased at the time of sale.

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AcquisitionsCaliforniaMultifamilyWestern

MG Properties Buys Artist Walk Apartments in Fremont, California for $89.7M

by Amy Works

FREMONT, CALIF. — MG Properties has acquired Artist Walk Apartments, a multifamily community in Fremont, from Clarion Partners for $89.7 million. Built in 2017, Artist Walk features 185 apartments and 30,000 square feet of ground-floor retail space. Jason Parr, Seth Siegel and Scott MacDonald of Cushman & Wakefield represented the seller in the deal. Andrew Behrens, Jesse Weber and Stephen Baird of CBRE Capital Markets arranged financing, provided by Freddie Mac, for the transaction.

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