Acquisitions

Ackerman & Co. Acquires 395,269 SF Industrial Property in Atlanta

by Hayden Spiess August 25, 2023

ATLANTA — Ackerman & Co. has completed the acquisition of a 395,269-square-foot industrial property adjacent to Hartsfield-Jackson Atlanta International Airport. Situated at 4099 Old Dixie Highway in Atlanta, the property comprises two distribution facilities within the three-building Henry Ford Distribution Center. Building 1 totals 165,365 square feet, and Building 2 spans 229,904 square feet. Tenants at the facilities, which were fully leased at the time of sale, include Delta Air Lines, Morrison Express, Aviation Inflatables, Restoration Sleep, Tara Plastics and Mile Marker Logistics. The seller and sales price were not disclosed.

August 25, 2023

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 42-Unit Multifamily Property in Fort Worth

by Taylor Williams August 25, 2023

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Villa Capri, a 42-unit multifamily property in Fort Worth. According to Apartments.com, the property was built in 1959 and offers studio, one- and two-bedroom units. Al Silva, Ford Braly and Dylan York of Marcus & Millichap represented the undisclosed seller and procured an undisclosed, out-of-state partnership as the buyer.

August 25, 2023

Acquisitions Civic Texas

Oxford Partners Arranges Sale of 5,000 SF Church in North Houston

by Taylor Williams August 25, 2023

HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of a 5,000-square-foot church located at 634 W. Cottage St. in North Houston. According to LoopNet Inc., the property was built in 1927. D.J. Hale of Oxford Partners represented the buyer, Hope Lutheran Church, in the transaction. Marcela Amador of Home Central Real Estate Inc. represented the undisclosed seller.

August 25, 2023

Acquisitions Colorado Life Sciences Net Lease Western

Real Capital Solutions Buys Medtronic Lafayette Campus in Colorado for $188M

by Amy Works August 25, 2023

LAFAYETTE, COLO. — Real Capital Solutions has acquired Medtronic Lafayette Campus from Ryan Cos. for $188 million. The acquisition consists of two five-story life sciences office buildings located at 200 and 250 Medtronic Drive in Lafayette, approximately 20 miles north of Denver. Completed earlier this year, the 42-acre, 404,159-square-foot property is Medtronic’s second largest U.S. campus, which will eventually house about 1,200 employees. As sole tenant of the property, the medical device company has a guaranteed, 20-year, triple-net lease.

August 25, 2023

Acquisitions California Multifamily Western

JRK Property Holdings Acquires Duo Apartments in San Jose for $93.5M

by Amy Works August 25, 2023

SAN JOSE, CALIF. — JRK Property Holdings has purchased Duo Apartments, a multifamily community in San Jose, for $93.5 million. Located at 6670 Emergent Way, Duo features 301 apartments and was 97 percent leased at the time of closing. Built in 2021 by the undisclosed seller, Duo features studio, one-, two- and three-bedroom apartments spread across two four-story residential buildings. Community amenities include controlled-access parking, a 24-hour fitness center, arcade room with high-definition golf stimulator, a resort-style pool with cabanas, coworking spaces with private conference rooms, and outdoor grilling areas. The acquisition of Duo was financed with a 10-year, fixed-rate loan from Freddie Mac. Institutional Property Advisors placed the loan and also marketed the property for sale on behalf of the seller. The acquisition is the third from the JRK Platform V, a Los Angeles-based real estate investment fund that targets higher quality, well-located multifamily investments built after 1990.

August 25, 2023

Acquisitions California Retail Western

Marcus & Millichap Brokers $28.2M Sale of Shopping Center in Escondido, California

by Amy Works August 25, 2023

ESCONDIDO, CALIF. — Marcus & Millichap has arranged the sale of a shopping center located at the junction of California State Route 78 and Interstate 15 in Escondido. The asset traded for $28.5 million. Lowe’s Home Improvement Warehouse anchors the 179,514-square-foot center. The sale includes a separately parceled Panda Express with a drive-thru and fee simple ownership of a three-tenant retail building anchored by San Diego Gas and Electric. Ron Duong and Joe Berkson of Marcus & Millichap represented the seller, a private investor, while Duong, Berkson and Adams Attia of Marcus & Millichap represented the undisclosed buyer in the deal.

August 25, 2023

Acquisitions Industrial Massachusetts Northeast

Marcus & Millichap Brokers $9.9M Sale of Industrial Building in Mattapoisett, Massachusetts

by Taylor Williams August 25, 2023

MATTAPOISETT, MASS. — Marcus & Millichap has brokered the $9.9 million sale of a 147,444-square-foot vacant industrial building in Mattapoisett, located in Plymouth County in the southern part of The Bay State. The building was constructed on 10.6 acres, a portion of which was sold separately at the time of closing, in 1985. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

August 25, 2023

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Brokers $51M Sale of Apartment Complex in Jeffersonville, Indiana

by Kristin Harlow August 25, 2023

JEFFERSONVILLE, IND. — Marcus & Millichap has brokered the $51 million sale of Villas of Jeffersonville, a 264-unit apartment complex in Jeffersonville, a city just north of Louisville, Ky. Built in 2020, the property is located at 3001 Peach Blossom Drive near I-65. David Badgett Jr. of Marcus & Millichap represented the seller and developer, Denton Floyd Real Estate Group, and procured the buyer, Peach Blossom LLC. Josh Caruana, Marcus & Millichap’s broker of record in Indiana, assisted in closing the transaction.

August 25, 2023

Acquisitions Midwest Retail Wisconsin

Mid-America Arranges Sale of 171,366 SF Shopping Center in Kohler, Wisconsin

by Kristin Harlow August 25, 2023

KOHLER, WIS. — Mid-America Real Estate Corp. has arranged the sale of Deertrace Kohler in Kohler, a northern suburb of Milwaukee. The sales price was undisclosed. Managed by Pine Tree, the 171,366-square-foot shopping center features tenants such as T.J. Maxx, HomeGoods, Sierra Trading Post, Dollar Tree, Spectrum, Bath & Body Works, U.S. Cellular, Mattress Firm and JoAnn. Rick Drogosz and Dan Rosenfeld of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Chase Properties was the buyer.

August 25, 2023

Acquisitions Michigan Midwest Retail

SRS Brokers $7.8M Sale of CVS-Occupied Property in Ann Arbor

by Kristin Harlow August 25, 2023

ANN ARBOR, MICH. — SRS Real Estate Partners has brokered the sale of a 13,040-square-foot retail property occupied by CVS Pharmacy in Ann Arbor for $7.8 million. Originally constructed in 1930, the building is located at 209 S. State St. adjacent to the University of Michigan. John Redfield of SRS represented the seller, a northern California-based private investor. Michael Carter and Frank Rogers of SRS represented the buyer, a Michigan-based investment company completing a 1031 exchange. CVS has more than 14 years remaining on its triple net lease.

August 25, 2023

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