Acquisitions

JLL Brokers Sale of Publix-Anchored Shopping Center in Sandy Springs, Georgia

by John Nelson September 13, 2023

SANDY SPRINGS, GA. — JLL has brokered the sale of Trowbridge Crossing, a 62,558-square-foot shopping center located in Sandy Springs, a northern suburb of Atlanta. Publix anchors the property, and other tenants include T-Mobile, North Springs Animal Clinic, Erawan Organic Thai, Domino’s, USPS, Luxy Nails, Hong Kong City and The UPS Store. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller, InvenTrust Properties Corp., in the transaction. West Palm Beach, Fla.-based FrostPoint Capital acquired the center for an undisclosed price.

September 13, 2023

Acquisitions Alabama Life Sciences Southeast

Stirling Arranges Sale of 30,000 SF Life Sciences Facility in Birmingham

by John Nelson September 13, 2023

BIRMINGHAM, ALA. — Stirling has arranged the sale of a 30,000-square-foot life sciences facility located at 100 Lucerne Lane in Birmingham. The property, which features office, wet lab and warehouse space, is situated on 5.7 acres within Oxmoor South Industrial Park. The buyer, Birmingham Water Works, is planning to make capital improvements at the property, which will be used for the organization’s new EnviroLab facility. The company oversees the water supply for more than 770,000 people in Birmingham and the surrounding counties. Juhmad Hollis and Melissa Warren of Stirling represented the buyer in the transaction. The seller and sales price were not disclosed.

September 13, 2023

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 320-Unit Multifamily Property in El Paso

by Taylor Williams September 13, 2023

EL PASO, TEXAS — Greysteel has arranged the sale of El Sol del Lago, a 320-unit multifamily property in El Paso. The garden-style community was built in 1973 and offers studio, one- and two-bedroom units, according to Apartments.com. Doug Banerjee, Andrew Mueller, John Tallis and Sterling Warren of Greysteel represented the buyer and seller, both of which requested anonymity, in the transaction. The new ownership plans to implement a value-add program. El Sol del Lago was approximately 98 percent occupied at the time of sale.

September 13, 2023

Acquisitions California Industrial Western

CapRock Partners Buys 165,070 SF Industrial Facility in San Dimas, California

by Amy Works September 13, 2023

SAN DIMAS, CALIF. — CapRock Partners has completed the acquisition of 300 E. Arrow Highway, a single-tenant industrial building in San Dimas. The company purchased the property from an undisclosed investor in an all-cash transaction. Barbara Perrier, Darla Longo and Rebecca Perlmutter of CBRE facilitated the deal. Built in 1972 and expanded in 1989, the 165,070-square-foot building features 15 dock-high doors, one ground-level door, a 130-foot secured truck court and multiple points of ingress/egress. Additionally, the property offers ample parking, 4,000A/480V power and approximately 21,000 square feet of two-story office space. Western Pacific Storage Solutions, a leader in engineering and manufacturing of industrial storage solutions, shelving systems and material handling, has fully occupied the facility for its manufacturing operations since 2001.

September 13, 2023

Acquisitions California Hospitality Western

Marcus & Millichap Brokers Sale of 65-Room Quality Inn Hotel in Blythe, California

by Amy Works September 13, 2023

BLYTHE, CALIF. — Marcus & Millichap has arranged the sale of a Quality Inn hotel located at 600 W. Donlon St. in Blythe. Terms of the transaction were not released. The recently renovated property features 65 guest rooms. Andy Patel and Gordon Allred of Marcus & Millichap’s Palm Springs and Inland Empire offices, respectively, represented the seller, a limited liability company, and procured the buyer, a limited liability company.

September 13, 2023

Acquisitions Massachusetts Northeast Office

Synergy Investments Acquires Downtown Boston Office Building for $45M

by Taylor Williams September 13, 2023

BOSTON — Synergy Investments has acquired One Liberty Square, a 157,467-square-foot office building in downtown Boston, for $45 million. The 13-story building was originally constructed in 1926 and renovated in 1982. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, New York-based Clarion Partners, in the transaction. The team also procured Synergy Investments as the buyer. One Liberty Square was 84 percent leased to a roster of 22 tenants at the time of sale.

September 13, 2023

Acquisitions Colorado Industrial Western

Comunale Properties Purchases Industrial Building in Denver

by Amy Works September 13, 2023

DENVER — Comunale Properties has purchased an industrial facility, located at 1870 W. 64th Lane in Denver, from Manhattan Fund XXI LLC for an undisclosed price. The acquisition is part of Comunale’s Private Capital Core long-duration income strategy, which has industrial holdings across six states. The industrial property is fully leased to three tenants. The building features 20-foot clear heights, modern features and tilt-up construction. Brandon Kramer of Marcus & Millichap represented the seller in the deal.

September 13, 2023

Acquisitions Illinois Industrial Midwest

Clear Height Properties, Harbert Acquire 103,686 SF Industrial Property in Park City, Illinois

by Kristin Harlow September 13, 2023

PARK CITY, ILL. — A joint venture between Clear Height Properties and Harbert US Real Estate has acquired an industrial property located at 700-750 Chestnut Ave. in Park City, a far north suburb of Chicago. The purchase price was undisclosed. The property consists of two buildings totaling 103,686 square feet that are leased to Reyes Coca-Cola Bottling. In addition to the two buildings, the property also features gated outside parking and storage for semi-truck cabs, semi-truck trailers and fleet delivery vehicles. Paige Gunn of Stream Realty Partners represented the buyer. Jason Lev, John Suerth and Jimmy Kowalczyk of CBRE have been retained for leasing.

September 13, 2023

Acquisitions Hospitality Midwest Minnesota

Marcus & Millichap Brokers Sale of 58-Room Hotel in Baxter, Minnesota

by Kristin Harlow September 13, 2023

BAXTER, MINN. — Marcus & Millichap has brokered the sale of the AmericInn Baxter Brainerd, a 58-room hotel in Baxter, a city in central Minnesota. The sales price was undisclosed. Built in 1973, the property is located at 7836 Fairview Road. The hotel was rebranded to AmericInn in 2017. Jake Erickson, Joseph Ferguson, Jared Plamann and Jon Ruzicka of Marcus & Millichap represented the seller. Erickson procured the buyer, which plans to refresh and renovate the property.

September 13, 2023

Acquisitions Illinois Industrial Midwest

Venture One Buys 37,601 SF Industrial Building in Elmhurst, Illinois

by Kristin Harlow September 13, 2023

ELMHURST, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a 37,601-square-foot industrial building in Elmhurst for an undisclosed price. The acquisition was structured as a sale-leaseback. Built in 1969, the property features a clear height of 18 feet, two docks, two drive-in doors and parking for 45 cars. Ted Gates and David Prell of CBRE represented the undisclosed seller. VK Industrial VI is co-sponsored by Venture One and Kovitz Investment Group. The fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.

September 13, 2023

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