Acquisitions

TopSide Marinas Acquires Two Marina Properties Along Lake Michigan

by Kristin Harlow June 5, 2024

WAUKEGAN, ILL. AND STURGEON BAY, WIS. — TopSide Marinas has acquired two marinas on the shores of Lake Michigan — Bay Marine of Sturgeon Bay and Bay Marine of Chicago. Previous owners, Matt and Mark Felhofer, will continue to own and operate Bay Marine Yacht Sales, which will lease back showroom and office space at both locations. With this acquisition, TopSide Marinas now owns and operates 10 marinas across six states. Purchase prices were not disclosed. Bay Marine of Sturgeon Bay, located in eastern Wisconsin, was built in 1965. The property totals 16 acres with 100 wet slips, 115,000 square feet of inside storage, a service shop and captain’s lounge. Bay Marine of Chicago was built in 2016 and is located in Waukegan. The property features 40,000 square feet of inside storage, 7,000 square feet of office space and a comprehensive service operation.

June 5, 2024

Acquisitions Industrial Washington Western

EQT Exeter Buys Four Gayteway Business Park Buildings in Arlington, Washington for $70.6M

by Amy Works June 5, 2024

ARLINGTON, WASH. — EQT Exeter has purchased Gayteway Business Park buildings B, C, F and G from Chris Gayte and Brent Nicholson of Gayteway Business Park for $70.6 million. Situated on 22.3 acres in Arlington, approximately 45 miles north of Seattle, the four Class A industrial buildings total 365,000 square feet. Located at 20101 and 19927 67th Ave. Northeast, the buildings offer dock-high and grade-level loading, concrete truck courts, 24- to 30-foot clear heights, abundant parking and ESFR sprinklers. Brett Hartzell and Paige Morgan of CBRE National Partners represented the seller in the deal. Al Hodge of Broderick Group assisted on the transaction.

June 5, 2024

Acquisitions Multifamily Washington Western

NBP Capital Sells Thunderbird Village Multifamily Community in Vancouver, Washington for $26.7M

by Amy Works June 5, 2024

VANCOUVER, WASH. — NBP Capital has completed the disposition of Thunderbird Village, a garden-style apartment community in Vancouver, a suburb of Portland, Oregon. An undisclosed buyer paid $26.7 million for the property, which is located at 4601 E. 18th St. Josh McDonald, Joe Nydahl and Phil Oester of CBRE represented the seller in the deal. Built in 1972, Thunderbird Village features 182 one-, two- and three-bedroom floor plans averaging 972 square feet. Of the units, 41 have been renovated to include upgraded vinyl and carpet flooring, new appliances and hardware, quartz countertops and stacked washers/dryers. Newly renovated community amenities include an outdoor swimming pool, sauna, walking trails, fitness center, tennis and basketball courts, and business center.

June 5, 2024

Acquisitions Colorado Industrial Western

Brennan Investment Group Acquires Two Distribution Buildings in Metro Denver

by Amy Works June 5, 2024

AURORA AND DENVER, COLO. — Brennan Investment Group has purchased two distribution facilities, totaling 206,000 square feet, in Aurora and Denver. Terms of the transaction were not released. The properties are located at 18245 E. 40th Ave. in Aurora and 4999 Oakland St. in Denver. At the time of sale, the Oakland property is fully leased to a single tenant, and the 40th Avenue property is partially leased.

June 5, 2024

Acquisitions Arizona Industrial Western

Marcus & Millichap Brokers Sale of 17,200 SF Industrial Park in Show Low, Arizona

by Amy Works June 5, 2024

SHOW LOW, ARIZ. — Marcus & Millichap has arranged the sale of Show Low Small Bay Industrial Park, a two-building industrial asset in Show Low, approximately 175 miles northeast of Phoenix near the New Mexico border. A private investor sold the property to a California-based private investor for $2.2 million. Located at 1241 E. Lumbermans Loop, Show Low Small Bay Industrial Park offers 17,200 square feet of small-bay industrial space on 1.5 acres. At the time of sale, the buildings were fully leased. Cory Gross of Marcus & Millichap represented the seller and procured the buyer in the deal. Ryan Sarbinoff, also of Marcus & Millichap, served as broker of record in Arizona for the transaction.

June 5, 2024

Acquisitions Retail Southeast Virginia

Federal Realty Acquires 665,000 SF Virginia Gateway Shopping Center in Metro D.C. for $215M

by John Nelson June 4, 2024

GAINESVILLE, VA. — Federal Realty Investment Trust has acquired Virginia Gateway, a 665,000-square-foot retail center situated on 110 acres in Gainesville, about 35 miles west of Washington, D.C.. The purchase price was $215 million, and the seller was not disclosed. Tenants at the property, which is organized into five sections and was 95 percent occupied at the time of sale, include Giant Food, HomeGoods, Ulta Beauty, Total Wine & More and Hobby Lobby. The campus includes a Super Target that was not included in the transaction.

June 4, 2024

Acquisitions Industrial Maryland Office Southeast

DSC Partners, Harbert Management Buy Industrial Portfolio in Suburban Maryland for $86.4M

by John Nelson June 4, 2024

LANHAM, MD. — DSC Partners, in partnership with Harbert Management Corp. (HMC), has purchased Forbes Center, a 17-property, 785,000-square-foot portfolio comprising industrial, flex and office buildings in Lanham, about 12 miles northeast of Washington, D.C. The seller was not disclosed. Tenants at the property include distribution companies, government contractors, local and national service providers and medical groups. Rob Pugh, Ken Fellows, Keiry Martinez and Aaron Carroll of KLNB will lease the properties on behalf of the buyers, and Transwestern will provide property management services.

June 4, 2024

Acquisitions Alabama Multifamily Southeast

Oakley Group Purchases 110-Unit Deerfield Place Apartments in Florence, Alabama

by John Nelson June 4, 2024

FLORENCE, ALA. — Birmingham-based Oakley Group has acquired Deerfield Place, a 110-unit apartment community located at 137 Deerfield Place in Florence. Built in 2018 and totaling 137,500 net rentable square feet, the property comprises 13 one- and two-story buildings. Pinehurst Investments, the original developer, sold the community to Oakley Group for an undisclosed price. David Sizemore of CommerceOne Bank arranged acquisition financing on behalf of the buyer in the form of a fixed-rate, five-year loan. The property was 95 percent occupied at the time of sale. Oakley Group plans to implement improvements to the community, including the addition of a fitness center and outdoor gathering place. Arlington Properties will continue to serve as the onsite management firm on behalf of the new owner.

June 4, 2024

Acquisitions Hospitality Self-Storage Texas

Marcus & Millichap Arranges Sale of Storage, Hospitality Portfolio in Quinlan, Texas

by Taylor Williams June 4, 2024

QUINLAN, TEXAS — Marcus & Millichap has arranged the sale of The Lake Tawakoni Portfolio, a collection of storage and hospitality properties in Quinlan, about 45 miles east of Dallas. The portfolio consists of 219 RV sites, 198 storage units, 39 cabins and 39 boat slips across three properties. Brad Dorsey, Skyler Henderson, Blake Eisenberg, Edgar Martinez and Katie Eaton of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

June 4, 2024

Acquisitions Net Lease Retail Texas

Boulder Group Arranges $3.7M Sale of Net-Leased Retail Building in Norman, Oklahoma

by Taylor Williams June 4, 2024

NORMAN, OKLA. — The Boulder Group, a brokerage firm specializing in single-tenant, net-leased retail deals, has arranged the $3.7 million sale of a building at 3501 NW 36th Avenue in Norman, Okla. CVS occupies the building, which according to LoopNet Inc. was built in 2010 and totals 12,888 square feet. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a California-based 1031 exchange investor, in the transaction. The seller was undisclosed.

June 4, 2024

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