Acquisitions

GI Partners Sells 75,350 SF R&D Facility in Silicon Valley to BGO

by Amy Works August 31, 2023

SUNNYVALE, CALIF. — GI Partners has completed the sale of a mission-critical R&D facility at 825 Stewart Drive in Sunnyvale. BGO acquired the asset for an undisclosed price. Most recently renovated in 2015, the two-story building features 75,350 square feet of R&D space and 242 surface parking spaces. An American multinational technology company, which has invested significant capital into the facility, fully occupies the building. Will Connors, Daniel Renz, Michael Manas, Cheri Pierce, Kendall Willet and Aisling Duffy of JLL Capital Markets represented the seller in the deal.

August 31, 2023

Acquisitions California Restaurant Retail Western

Hanley Brokers $3.2M Sale of Starbucks-Occupied Retail Property in Fresno, California

by Amy Works August 31, 2023

FRESNO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million sale of a single-tenant property located in Fresno. Starbucks Coffee occupies the newly constructed, 2,250-square-foot building. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Laguna Canyon Group, in the transaction. Patrick Conway of CBRE represented the buyer, a locally based private investor.

August 31, 2023

5010-El-Camino-Drive-Colorado-Springs-CO

Acquisitions Colorado Office Western

Marcus & Millichap Arranges Sale of 9,000 SF Office Building in Colorado Springs

by Amy Works August 31, 2023

COLORADO SPRINGS, COLO. — Marcus & Millichap has brokered the sale of an office building located 5010 El Camino Drive in Colorado Springs. A private investor sold the asset to an undisclosed buyer for $1.4 million. The two-story property features 9,000 square feet of multi-tenant office space. Erik Enstad, Brandon Kramer and Chadd Nelson of Marcus & Millichap represented the seller in the transaction.

August 31, 2023

Acquisitions Indiana Industrial Midwest

CBRE Brokers $13.4M Sale of Building 4 Within Mount Comfort Logistics Center in Greenfield, Indiana

by Kristin Harlow August 31, 2023

GREENFIELD, IND. — CBRE has brokered the $13.4 million sale of Building 4 within Mount Comfort Logistics Center in Greenfield, an eastern suburb of Indianapolis. The building totals 120,336 square feet and is a build-to-suit warehouse for U.S. AutoForce, a wholesale automotive tires, parts and lubricants distributor. Built in 2021, the property features a clear height of 30 feet, 22 dock doors, two drive-in doors and ample car and trailer parking. Kevin Foley and Jared Scaringe of CBRE Investment Properties represented the seller, Ambrose Property Group. Gary Stache, Chris Martin and Bill Maher of CBRE Investment Properties represented the private California-based buyer, which completed a 1031 exchange.

August 31, 2023

Acquisitions Alabama Development Mixed-Use Multifamily Southeast

IMS Development Acquires 130 Acres in Huntsville, Plans Mixed-Use Campus With 800 Residences

by John Nelson August 30, 2023

HUNTSVILLE, ALA. — Tuscaloosa, Ala.-based IMS Development has purchased 130 acres on the north side of Huntsville from the University of Alabama in Huntsville Foundation. The site is located at the corner of State Routes 255 and 53 and Blake Bottom Road. The buyer plans to build a mixed-use campus on the site dubbed North Valley, which will comprise 800 residences and 20 acres of commercial space. IMS Development says potential uses for the commercial component could include big-box retailers, hotels, restaurants, convenience stores and entertainment venues. Eric St. John of Crunkleton Commercial Real Estate assisted IMS in the land acquisition. The construction timeline was not released.

August 30, 2023

adjacent to the Fort Worth Alliance Airport, with immediate access to State Road 114 and I-35.

Acquisitions Industrial Texas

Victaulic Acquires 213,581 SF Industrial Property in Fort Worth

by Taylor Williams August 30, 2023

FORT WORTH, TEXAS — Victaulic, a producer of piping and fire protection products, has acquired a 213,581-square-foot, newly built industrial property in Fort Worth. The developer, Stonemont Financial Group, broke ground on the project in late 2021 with plans to deliver a speculative facility. Victaulic approached Stonemont several months into construction to purchase the shell, which the company then designed and built out to its specifications. Trey Fricke of Lee & Associates represented Victaulic in the acquisition of the property, which features 98 parking spaces, 35 trailer stalls and 38 dock doors. Ann Jaggars and Tony Creme of KBC Advisors represented Stonemont.

August 30, 2023

Acquisitions Retail Texas

STRIVE Arranges Sale of 13,910 SF Retail Strip Center in Arlington

by Taylor Williams August 30, 2023

ARLINGTON, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of College Crossing, a 13,910-square-foot retail strip center in Arlington. Hudson Lambert of STRIVE represented the seller and procured the buyer, both of which were locally based entities that requested anonymity, in the transaction. The center was fully leased at the time of sale to tenants such as Caress Dental, Soleil Cutz, Crown’s BBQ and Foxi Nails.

August 30, 2023

Acquisitions Office Texas

Newcor Negotiates Sale of 8,300 SF Office Building in Spring, Texas

by Taylor Williams August 30, 2023

SPRING, TEXAS — Locally based brokerage firm Newcor Commercial Real Estate has negotiated the sale of an 8,300-square-foot office building located at 26414 Oak Ridge Drive in the northern Houston suburb of Spring. According to LoopNet Inc., the property was built in 1971 and renovated in 2022. Ryan Dierker of Newcor represented the owner and former occupant, TruRealty Properties, in the transaction. Adriatico Group represented the buyer, Voss Law.

August 30, 2023

Acquisitions Mixed-Use New York Northeast

Rosewood Realty Arranges $36.5M Sale of Manhattan Mixed-Use Building

by Taylor Williams August 30, 2023

NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $36.5 million sale of a 15-story mixed-use building located at 159-161 W. 54th St. in Manhattan’s Hell’s Kitchen neighborhood. The building was originally constructed in 1923 and houses 42 apartments, five retail spaces and 11 office suites. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood represented the seller, a partnership between private investor Sol Kurtz and Rubin Schron of Cammeby’s International, in the transaction. The trio also procured the buyer, a private family office.

August 30, 2023

Acquisitions NAI New Jersey Northeast Office

NAI Hanson Brokers Sale of 4,232 SF Office Building in Franklin, New Jersey

by Taylor Williams August 30, 2023

FRANKLIN, N.J. — NAI James E. Hanson has brokered the sale of a 4,232-square-foot office building in the Central New Jersey community of Franklin. The building at 195 N. Church Road houses four suites, basement storage space and onsite parking. Joseph Vindigni of NAI Hanson represented both the seller, LSC Properties LLC, and the buyer, an entity doing business as 195 N Church LLC, in the transaction.

August 30, 2023

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