Acquisitions

Northland Acquires 344-Unit Multifamily Community Near Atlanta

by John Nelson September 8, 2023

LITHIA SPRINGS, GA. — Northland has acquired 670 Thornton, a 344-unit multifamily community located in Lithia Springs, roughly 15 miles west of Atlanta. Totaling 38 residential buildings situated on 46 acres, the property features 20 studio, 146 one-bedroom, 154 two-bedroom and 24 three-bedroom apartments. Amenities include a fitness center, business center, grilling areas, pet park, two pools, theater room, playground, tennis courts and a walking trail, as well as 96 detached garages. Northland plans to implement a valet trash program and SmartRent technology package, install washers and dryers in all units and upgrade finishes in select apartments, along with other site improvements.

September 8, 2023

Acquisitions Office Texas

Colliers Arranges Sale of Office Development Site in Metro Houston

by Taylor Williams September 8, 2023

MISSOURI CITY, TEXAS — Colliers has arranged the sale of a 12.5-acre office development site in Missouri City, a southwestern suburb of Houston. The site has over 1,000 feet of frontage on Knights Court Road and is across the street from Elkins High School. Chris Hutcheson, Harrison Kane and James Kadlick of Colliers represented the seller in the transaction. The size and construction schedule of the office condominium park that the undisclosed buyer intends to build on the site have not yet been determined.

September 8, 2023

Acquisitions Connecticut Industrial Northeast

WinStanley Acquires Connecticut Industrial Facility Leased to Amazon for $122.3M

by Taylor Williams September 8, 2023

WINDSOR, CONN. — Regional investment firm WinStanley Enterprises has acquired a 1 million-square-foot industrial facility in Windsor, located north of Hartford, that is fully leased to Amazon. The sales price was $122.3 million. The facility was built on an 89.5-acre site in 2014 and features 32-foot clear heights. The seller was German investment firm Deka Immobilien.

September 8, 2023

Acquisitions New Hampshire Northeast Retail

Colliers Brokers $8.8M Sale of Shopping Center in Durham, New Hampshire

by Taylor Williams September 8, 2023

DURHAM, N.H. — Colliers has brokered the $8.8 million sale of Mill Road Plaza, a 53,238-square-foot shopping center in Durham, located near the New Hampshire-Massachusetts border. Grocer Hannaford and Rite Aid serve as the anchor tenants of the two-building, 10.6-acre property. Abigail Bachman and David Choate of Colliers represented the seller, Colonial Durham Associates LP, in the transaction. The buyer was regional investment firm Torrington Properties.

September 8, 2023

Acquisitions Nevada Office Western

Joint Venture Acquires Green Valley Corporate Center Office Complex in Henderson, Nevada for $17.2M

by Amy Works September 8, 2023

HENDERSON, NEV. — A joint venture between Los Angeles-based Partners Capital Inc. and Las Vegas-based CNR Retail has purchased Green Valley Corporate Center South, an office complex located at 2500 and 2550 Paseo Verde Parkway in Henderson. JMA Ventures and Blue Vista Capital Management sold the asset for $17.2 million, or $188 per square foot. Tyler Ecklund, Marc Magliarditi, Travis Landes, Michael Hsu, Brad Peterson, Darren Lemmon and Justin Witt of CBRE represented the sellers, while Chris Clifford, Steve Neiger and Brett Rather of Colliers represented the buyers in the transaction. Built in 2000 and 2002, the two-building Green Valley Corporate Center South offers 91,742 square feet of Class A office space and is part of an eight-building office portfolio within the master-planned Green Valley corridor. At the time of sale, Green Valley Corporate Center South was 81.6 percent occupied. Current tenants include GK Properties Real Estate & Management, Thrive Aviation and Village Capital & Investment. The buyer plans to convert the existing single-story office buildings into a lifestyle center with a focus on crafted dining, retail, design, entertainment, health and wellness uses.

September 8, 2023

Acquisitions Michigan Midwest Retail

Marcus & Millichap Brokers $8M Sale of Grocery-Anchored Retail Center in Jackson, Michigan

by Kristin Harlow September 8, 2023

JACKSON, MICH. — Marcus & Millichap has brokered the $8 million sale of a grocery-anchored retail center in Jackson, located about midway between Kalamazoo and Ann Arbor. Kroger and Big Lots are the anchor tenants. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented the all-cash buyer and seller. Additional terms of the transaction were not provided.

September 8, 2023

Acquisitions Development Illinois Midwest Retail

Tiny Giants Acquires 24,563 SF Commercial Building in Chicago, Plans Daycare, Apartment Project

by Kristin Harlow September 8, 2023

CHICAGO — Tiny Giants has acquired a 24,563-square-foot commercial building located at 2801 W. Montrose Ave. in Chicago. The family-owned company plans to redevelop the site into a mixed-use project with a 10,000-square-foot daycare on the ground floor and apartments above. Longtime tenant Ruby Dry Cleaners relocated to a new location several blocks away. Chris Irwin of Colliers represented the buyer, while Craig Wolf and Dale Strauss of Strauss Realty Ltd. represented the sellers, private investors. The sales price was undisclosed.

September 8, 2023

Acquisitions Hospitality South Carolina Southeast

MCR Acquires 138-Room Courtyard by Marriott North Charleston Hotel

by John Nelson September 7, 2023

NORTH CHARLESTON, S.C. — New York City-based MCR has purchased Courtyard by Marriott North Charleston, a 138-room hotel located at 7465 Northside Drive in North Charleston. The four-story property represents MCR’s fourth hotel in South Carolina. The seller and sales price were not disclosed. Built in 2019, the hotel is situated near Charleston International Airport and features The Bistro restaurant and bar, a grab-and-go market, outdoor pool and fire pit, fitness center, 24-hour business center and 1,184 square feet of meeting space.

September 7, 2023

Acquisitions Single-Family Rental South Carolina Southeast

Cushman & Wakefield Brokers $10.3M Sale of Single-Family Rental Community on Hilton Head Island

by John Nelson September 7, 2023

HILTON HEAD ISLAND, S.C. — Cushman & Wakefield has brokered the $10.3 million sale of Tidal Bluff, a 30-unit single-family rental (SFR) residential community on Hilton Head Island. Built in 2003, the gated property is situated along tidal marshes with proximity to the beach, Publix, Harris Teeter and Starbucks. Louis Smart, Taylor Bird and Austin Green of Cushman & Wakefield represented the seller, Singerman Real Estate LLC, in the transaction. The buyer was an unnamed private investor.

September 7, 2023

Acquisitions Multifamily Texas

ShainRealty Capital Acquires 256-Unit Multifamily Property in Mesquite, Texas

by Taylor Williams September 7, 2023

MESQUITE, TEXAS — Los Angeles-based investment firm ShainRealty Capital has acquired Landmark at Courtyard Villas, a 256-unit multifamily property located in the eastern Dallas suburb of Mesquite. The apartment complex was built in 1999 and has an average unit size of 905 square feet. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap brokered the sale of the property. ShainRealty Capital plans to invest about $3 million in capital improvements and rebrand the property as Infinity at Sunnyvale. The seller was a private investor.

September 7, 2023

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