Acquisitions

Stos Partners Divests of $26.5M Manufacturing Building in Tustin, California

by Amy Works August 10, 2023

TUSTIN, CALIF. — Stos Partners has sold a high-tech manufacturing property in Tustin to KTI Hydraulics for $26.5 million. Stos Partners originally acquired the asset in December 2021 for $19.2 million. The company implemented a value-add strategy and capital improvement program, including a new roof, parking lot, exterior painting, landscaping and interior improvements, at the 71,616-square-foot property. The property is located at 1311 Valencia Ave. within the Irvine Business Complex. The building features excess yard area, ample parking ratio, high-end cleanroom space with a mix of office and warehouse space, and on-site electric vehicle charging stations. Nick Valasquez and Michael Hartel of Colliers, along with Ross Bournce of CBRE, represented Stos Partners. Xavier Nolasco and Steve Wagner of JLL represented the buyer in the transaction.

August 10, 2023

Acquisitions Arizona Hospitality Western

RADCO Cos. Buys 143-Room Aloft Phoenix-Airport Hotel

by Amy Works August 10, 2023

PHOENIX — Atlanta-based RADCO Cos. has purchased Aloft Phoenix-Airport, a six-story hotel located at 4450 E. Washington St. in Phoenix. Terms of the transaction were not released. RADCO plans to renovate the 143-room hotel, which is located across the street from the airport Sky train station and the light rail station that provides immediate access to downtown Phoenix and Tempe. Bill Murney of Cushman & Wakefield’s Hospitality team in Phoenix represented the undisclosed seller in the deal.

August 10, 2023

Acquisitions Industrial Iowa Midwest

Sealy & Co. Acquires 265,700 SF Altus Commerce Center in Altoona, Iowa

by Kristin Harlow August 10, 2023

ALTOONA, IOWA — Sealy & Co. has acquired the newly constructed Altus Commerce Center in Altoona, a northeast suburb of Des Moines. The purchase price was undisclosed. The industrial facility totals 265,700 square feet and features a clear height of 32 feet, 135-foot truck court, 26 dock-high doors and two drive-in doors. Jason Gandy and Davis Gibbs of Sealy led the transaction. Mark Long and John Hassler of Newmark represented the seller, VanTrust Real Estate. In honor of VanTrust, Sealy is making a significant contribution to the Marine Corps Scholarship Foundation to commemorate the transaction.

August 10, 2023

Acquisitions Midwest Missouri Retail

Marcus & Millichap Brokers $9.1M Sale of Retail Strip Center in Branson, Missouri

by Kristin Harlow August 10, 2023

BRANSON, MO. — Marcus & Millichap has brokered the $9.1 million sale of Lakeside Shoppes at Branson Landing, a 30,763-square-foot retail strip center in Branson. Built in 2015, the property is located directly adjacent to Branson Landing, a $435 million waterfront development situated on 95 acres along the banks of Lake Taneycomo. Tenants at the center include Qdoba Mexican Grill, Tropical Smoothie Café, Cold Stone Creamery and Pappo’s Pizzeria & Pub. Chris Garavaglia, Alex Perez and Austin Sweet of Marcus & Millichap represented the seller, a limited liability company. The buyer was a Louisiana-based private investor.

August 10, 2023

Acquisitions Healthcare Indiana Midwest

Montecito Medical Acquires 11,118 SF Medical Office Building in Hammond, Indiana

by Kristin Harlow August 10, 2023

HAMMOND, IND. — Montecito Medical has acquired an 11,118-square-foot medical office building in Hammond, about 25 miles southeast of Chicago. The purchase price was undisclosed. The building is fully occupied by the Williams Eye Institute and serves as the group’s flagship location. The Williams Eye Institute provides a full range of eye care, from general ophthalmology to advanced cataract surgery. Montecito worked alongside Entheos Capital Partners in completing the transaction.

August 10, 2023

Acquisitions Development Industrial Northeast Pennsylvania

Cushman & Wakefield Brokers $13.5M Sale of Industrial Development Site in York, Pennsylvania

by Taylor Williams August 10, 2023

YORK, PA. — Cushman & Wakefield has brokered the $13.5 million sale of an industrial development site in York. The site, known as The Expressway Commerce Park, is fully approved for the development of two buildings totaling 673,920 square feet. Building A will total 403,000 square feet and feature 405 auto stalls, 77 trailer stalls, 74 dock doors and two drive-in doors. Building B will total 270,920 square feet and feature 269 auto stalls, 72 trailer stalls, 43 dock doors and two drive-in doors. Gerry Blinebury and Collin Potter of Cushman & Wakefield represented the seller, Maple Press, in the transaction. The buyer was MRP Industrial. The sale included a subdivision from the Maple Press manufacturing facility that will remain in operation.

August 10, 2023

Acquisitions Multifamily New York Northeast

JLL Arranges $10.8M Sale of Two Manhattan Apartment Buildings

by Taylor Williams August 10, 2023

NEW YORK CITY — JLL has arranged the $10.8 million sale of two apartment buildings located at 175-177 East Third St. in Manhattan’s East Village. The five-story, walk-up buildings house a total of 20 one-bedrooms units, two of which have been duplexed with the basement. Hall Oster, Teddy Galligan and Guthrie Garvin of JLL represented the seller, an undisclosed private investor that owned the buildings for 30 years, in the transaction. The buyer was Lockhill Properties.

August 10, 2023

Acquisitions Industrial New Jersey Northeast

Fastener Dimensions Acquires 60,000 SF Industrial Building in Pennsauken, New Jersey

by Taylor Williams August 10, 2023

PENNSAUKEN, N.J. — Fastener Dimensions, a manufacturer and distributor of precision bolts for the aerospace industry, has acquired a 60,000-square-foot industrial building in the Southern New Jersey community of Pennsauken. The sales price was $4.2 million. Fastener Dimensions will continue to occupy the freestanding building, where it has operated out of for the past several years. Jonathan Klear of NAI Mertz brokered the deal. The seller was not disclosed.

August 10, 2023

Acquisitions Company News New York Northeast Retail Top Stories

Coach Owner to Acquire Parent Company of Michael Kors, Versace for $8.5B

by Katie Sloan August 10, 2023

NEW YORK CITY — Tapestry (NYSE: TPR), owner of fashion brands Coach, Kate Spade and Stuart Weitzman, has agreed to acquire luxury fashion group Capri Holdings Limited (NYSE: CPRI) for $8.5 billion. Both companies are based in New York City. Capri Holdings consists of Versace, Jimmy Choo and Michael Kors. The group spans a retail footprint of over 1,200 stores globally, including 223 Versace locations, 237 Jimmy Choo stores and 812 Michael Kors locations. The all-cash transaction, which was unanimously approved by the board of directors at both Tapestry and Capri Holdings, is expected to close in 2024. Capri shareholders will receive $57 per share. Combined, the companies generated $12 billion in global annual sales in 2022 and have a presence in over 75 countries. “We are excited to announce the acquisition of Capri Holdings — uniting six iconic brands and exceptional global teams,” says Tapestry CEO Joanne Crevoiserat. “The combination of Coach, Kate Spade and Stuart Weitzman together with Versace, Jimmy Choo and Michael Kors creates a new powerful global luxury house, unlocking a unique opportunity to drive enhanced value for our consumers, employees, communities and shareholders around the world.” Tapestry has secured $8 billion in fully committed bridge …

August 10, 2023

Acquisitions Arizona Industrial Western

Westcore Buys Hatcher Industrial Park in Glendale, Arizona for $92.7M

by Amy Works August 9, 2023

GLENDALE, ARIZ. — Westcore has completed a $92.7 million acquisition of the 906,125-square-foot Hatcher Industrial Park from Ryan Cos. US. Westcore partnered with Ryan one year ago for the development of the property, and this transaction marks the completion of the project and sale. Located in Glendale, the two-building industrial campus includes a 519,167-square-foot facility at 15101 W. Hatcher Road and a 386,958-square-foot asset at 15151 W. Hatcher Road. The warehouses feature 40-foot clear heights, ESFR sprinklers, eight grade-level doors, 167 dock-high doors and ample parking, including electric vehicle parking. Westcore is building out speculative office suites, equipping the buildings with full HVAC, LED warehouse lighting and dock packages with 40,000-pound-capacity levelers. Ryan Cos. served as the developer and builder for Hatcher Industrial Park and Ryan A+E Inc. served as architect. Tony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL assisted with the transaction and are managing the leasing efforts for the property.

August 9, 2023

Newer Posts

Older Posts