Acquisitions

Marcus & Millichap Brokers $76M Sale of Vista Ridge Apartments in Reno, Nevada

by Jeff Shaw July 19, 2023

RENO, NEV. — Arthur Vista Ridge has sold Vista Ridge Apartments, a 324-unit asset in Reno, to Tilden Properties and IDEAL Capital Group for $76 million. Vista Ridge Apartments was built in 1996 on 19 acres. The community offers one-, two- and three-bedroom apartments. Units feature vaulted ceilings, and washers and dryers. Amenities include a fitness center, business center, pool, and tennis and basketball courts. Kenneth Blomsterberg, Ryan Rife and Daniel Winrod of Marcus & Millichap represented the seller and procured the buyer.

July 19, 2023

Acquisitions Arizona Multifamily Western

WhiteHaven Acquires Clarendon Park Apartments in Phoenix for $37M

by Jeff Shaw July 19, 2023

PHOENIX — WhiteHaven has purchased Clarendon Park Apartments, a 138-unit community in Phoenix, for $37 million. The company rebranded the property as Haven at Midtown. Built in 2002, Haven at Midtown offers studio, one- and two-bedroom units. Amenities include a pool with a grilling area, a gym, internet access, a dog park, garages and covered parking. Greystar will be the property manager for this asset.

July 19, 2023

Acquisitions New Mexico Retail Western

Westwood Financial Sells 37,442 SF Sycamore Plaza Shopping Center in Albuquerque

by Jeff Shaw July 19, 2023

ALBUQUERQUE, N.M. — Westwood Financial has sold Sycamore Plaza, a 37,442-square-foot shopping center in Albuquerque, for an undisclosed price. Petsmart anchors the property, which was fully occupied at the time of sale. Other tenants include Sally Beauty, Einstein Bros. Bagels, Stretch Zone, GNC, Super Cuts and GameStop. CBRE National Retail Partners represented Westwood in the transaction.

July 19, 2023

Acquisitions Connecticut Industrial Northeast Office

Cushman & Wakefield Brokers Sale of 605,502 SF Industrial Flex Facility in Windsor, Connecticut

by Taylor Williams July 19, 2023

WINDSOR, CONN. — Cushman & Wakefield has brokered the sale of a 605,502-square-foot industrial flex property in Windsor, located about 15 miles north of Hartford. The sales price was $9 million. The property sits on 78.6 acres and consists of approximately 400,000 square feet of industrial space and 200,000 square feet of office space. Amenities include a full-service cafeteria, fitness center with locker rooms and a conference center. Matt Torrance, Joel Grieco, Damon Bowers, Al Mirin, Kate Schwartz, Sean Duffy and Timothy D’Addabbo of Cushman & Wakefield represented the sellers in the transaction. The team also procured the buyer, a joint venture between two Connecticut-based investment firms, Hollister & Moore and The New Haven Group. Cushman & Wakefield has also been retained as the leasing agent.

July 19, 2023

Acquisitions Healthcare Texas

CBRE Arranges $142M Sale of Veterans Affairs Outpatient Clinic in Austin

by Taylor Williams July 18, 2023

AUSTIN, TEXAS — CBRE has arranged the $142 million sale of a 272,636-square-foot outpatient facility in Austin that is fully leased to the U.S. Department of Veterans Affairs. The two-story building was originally constructed in 2013. Services offered at the clinic include physical therapy, mental health counseling, radiation treatments, prosthetic replacements, cardiology and neurology. Will Pike, Lee Asher, Brian Pfohl, Cyrus Felfeli and Jordan Selbiger of CBRE represented the seller, Health Care Property Advisors, in the transaction. The buyer was not disclosed.

July 18, 2023

Acquisitions Florida Multifamily Southeast

ZOM Living to Sell Azalea Apartments in Metro Tampa to Trilogy Real Estate for $85.8M

by John Nelson July 18, 2023

BRANDON, FLA. — ZOM Living has sold Azalea Apartments, a 289-unit luxury multifamily community that the developer is currently building in Brandon, for $85.8 million. Simon Banke and Jesse Wright of JLL arranged an undisclosed amount of acquisition financing on behalf of the buyer, Trilogy Real Estate Group. Azalea Apartments is located on a 13-acre site in Brandon’s East Tampa neighborhood and will feature one-, two- and three-bedroom units ranging in size from 700 to 1,400 square feet. Amenities will include a resort-style pool deck with cabanas, relaxation area with hammocks and a fire pit, event lawn, pool pavilion, gaming area with a pool table and corn hole, fenced dog park and pet salon, personal workstations, meeting rooms and a fitness center with a spinning studio and an outdoor yoga lawn. ZOM Living is managing the project through completion.

July 18, 2023

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $10.1M Sale of Retail Strip Center in Miami Gardens, Florida

by John Nelson July 18, 2023

MIAMI GARDENS, FLA. — Marcus & Millichap has brokered the $10.1 million sale of Shoppes of Ives Dairy, a 24,517-square-foot retail strip center located at 19801 N.W. 2nd Ave. in Miami Gardens. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller in the transaction. The buyer and seller are both private investment firms that have requested anonymity. Shoppes of Ives Dairy’s tenant roster includes Wells Fargo, Smoothie King, The UPS Store, Subway, T-Mobile, Foot Locker and local restaurants and service retailers.

July 18, 2023

Acquisitions Industrial Iowa Midwest

Phoenix Investors Acquires 365,640 SF Industrial Building in West Burlington, Iowa

by Kristin Harlow July 18, 2023

WEST BURLINGTON, IOWA — An affiliate of Phoenix Investors has acquired a 365,640-square-foot industrial building in West Burlington, a city in Southwest Iowa. Constructed in 1955 with additions in 1964, 1966, 1980 and 1993, the building is located at 510 E. Agency Road. The Burlington Junction Railroad connects the property to the BNSF mainline about 1.5 miles north. The facility also features a variety of cranes. The sales price and seller were undisclosed.

July 18, 2023

Acquisitions Development Industrial Midwest Nebraska

Investors Realty Brokers 38.5-Acre Land Sale in Papillion, Nebraska

by Kristin Harlow July 18, 2023

PAPILLION, NEB. — Investors Realty has brokered the sale of 38.5 acres of land at 14289 Prairie Corners Road in Papillion, a southern suburb of Omaha. The sales price was undisclosed. Kevin Stratman of Investors Realty represented the buyer, Keizer Refrigeration/Mid States Utility, which plans to relocate its Omaha operations to a new 50,000-square-foot facility to be built on the site. Located just north of a new Amazon fulfillment center, the tract of land is one of the final undeveloped industrial sites on the Highway 50 corridor, according to Investors Realty. Denny Sciscoe of Cushman & Wakefield/The Lund Co. and Erin Pogge of Traction CRE represented the undisclosed seller.

July 18, 2023

Acquisitions California Hospitality Western

Meriwether Buys Morgan Run Club & Resort in Rancho Santa Fe, California

by Jeff Shaw July 18, 2023

RANCHO SANTA FE, CALIF. — Meriwether Cos. has acquired Morgan Run Club & Resort in the San Diego suburb of Rancho Santa Fe. The company plans to invest more than $25 million in renovating the resort and private club, including its racquet sports, golf, dining and hotel components. The renovation is scheduled over the next two to three years. The construction will occur in phases, allowing the resort to remain open. Planned enhancements include upgrades to the common areas in the dining, banquet and fitness spaces of the clubhouse; converting the existing spa into a communal recovery area; investments in the golf course irrigation, bunkering and re-grassing; construction of a new pool and casual dining outlet; renovation of the racquet sports area including the tennis, pickleball and sports courts; and an improved pool. The hotel will be completely revitalized with upscale exterior and interior room renovations, along with new management and operations.

July 18, 2023

Newer Posts

Older Posts