Acquisitions

Cushman & Wakefield Arranges Sale of 401,115 SF Industrial Building in Arlington

by Taylor Williams July 26, 2024

ARLINGTON, TEXAS — Cushman & Wakefield has arranged the sale of Cooper I-20 Building C, a 401,115-square-foot industrial facility in Arlington. Completed in 2020, the building features 36-foot clear heights, 92 loading doors, four storefronts with dedicated parking and 46 trailer storage spaces. Jim Carpenter, Jud Clements, Robby Rieke, Trevor Berry, Madeleine Supplee, David Eseke and Mark Collins of Cushman & Wakefield represented the seller, Barings, in the transaction. John Alascio, T.J. Sullivan and Meredith Donovan, also with Cushman & Wakefield, arranged acquisition financing on behalf of the undisclosed buyer.

July 26, 2024

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 120-Unit Serena Vista Apartments in Arlington

by Taylor Williams July 26, 2024

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Serena Vista, a 120-unit apartment complex in Arlington. Built in 1980, the property offers studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center, clubhouse and a dog park. Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the seller, an undisclosed private investment group, in the transaction and procured the buyer, Green Mountain Properties LLC.

July 26, 2024

Acquisitions Midwest Missouri Multifamily

Hamilton Zanze Acquires 222-Unit Crossroads Westside Apartment Complex in Downtown Kansas City

by Kristin Harlow July 26, 2024

KANSAS CITY, MO. — Hamilton Zanze has acquired Crossroads Westside, a 222-unit apartment complex in downtown Kansas City. The purchase price was undisclosed. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the property. Crossroads Westside was built in 2018 and features one- and two-bedroom units ranging in size from 614 to 1,252 square feet. Amenities include a saltwater pool, dog spa, fitness center, sundeck, private art garden, business center, coworking spaces, fire pit and entertainment lounge. The property is situated within the historic Crossroads Art District. The transaction marks Hamilton Zanze’s fourth acquisition in 2024.

July 26, 2024

Acquisitions Indiana Industrial Midwest

Northmarq Arranges $40.7M Sale of 401,474 SF Industrial Property in Bedford, Indiana

by Kristin Harlow July 26, 2024

BEDFORD, IND. — Northmarq has arranged the $40.7 million sale of a 401,474-square-foot industrial property in Bedford, a city in southern Indiana. The single-tenant asset is net leased to Science Applications International Corp. (SAIC) and is situated on 74 acres at 3120 16th St. SAIC has occupied the property since 2009 and has expanded its footprint on seven separate occasions, including a new 16,000-square-foot build-to-suit. SAIC is a provider of technical, engineering and enterprise information technology services primarily to the U.S. government. Colin Couch, Jason Powell, Brian Ritchie and Tyler McCain of Northmarq represented the undisclosed seller. The buyer was an institutional investor.

July 26, 2024

Acquisitions Illinois Midwest Retail

Colliers Brokers Sale of Two Retail Strip Centers in Metro Chicago

by Kristin Harlow July 26, 2024

MOKENA AND WOODRIDGE, ILL. — Colliers has brokered the sale of two retail strip centers in metro Chicago. The first property totals 16,482 square feet and is located in Mokena. Five of the tenants have been onsite since 2015, while the sixth has occupied space since 2003 when the property was developed. The second asset in Woodridge is anchored by a food mart and service-oriented tenants. Peter Block and Rachel Patten of Colliers represented the seller, Armco Properties. The buyer, a private investor, purchased the properties at close to asking price, which was $6.8 million.

July 26, 2024

Acquisitions Illinois Midwest Multifamily

Essex Realty Group Negotiates $2.3M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow July 26, 2024

CHICAGO — Essex Realty Group has negotiated the sale of a four-building, 38-unit multifamily portfolio in Chicago’s Austin neighborhood for $2.3 million. Robert Berman, Michael Anguiano, Daniel Shabsin, Jeremy DeMarco and Joe Kahlhammer of Essex represented the long-term, local seller. A local investor purchased the properties with plans to update units. The assets are located at 44 N. Mason Ave., 60 N. Mason Ave., 112 N. Mason Ave. and 150 N. Mayfield Ave.

July 26, 2024

Acquisitions Connecticut Multifamily Northeast

NEPCG Arranges Sale of 46-Unit Apartment Complex in Plainville, Connecticut

by Taylor Williams July 26, 2024

PLAINVILLE, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the sale of Castle Apartments, a three-building, 46-unit multifamily complex in Plainville, a southwestern suburb of Hartford. According to Apartments.com, the property was built in 1975 and exclusively offers two-bedroom units with an average size of 850 square feet. Taylor Perun and Brad Balletto of NEPCG brokered the deal. The buyer and seller were not disclosed.

July 26, 2024

Acquisitions California Industrial Western

Neutraderm Buys Manufacturing Complex in Los Angeles for $21M

by Amy Works July 26, 2024

LOS ANGELES — Neutraderm, a medical-grade skincare manufacturer specializing in over-the-counter drug products, has acquired an industrial building at 20680 Nordoff St. in Los Angeles’ Chatsworth submarket. Nordhoff XC LLC sold the asset for $21 million. The manufacturer plans to combine this property with two nearby buildings, located at 9000 Lurline Ave. and its current West Coast headquarters at 20600 Nordhoff St. The resulting 115,000-square-foot facility will serve as Neutraderm’s flagship headquarters complex for Southern California. Erica Balin and Scott Caswell of Lee & Associates – LA North/Ventura represented the buyer in the deal.

July 26, 2024

Acquisitions Development Healthcare Hospitality Office Washington Western

Kauri Investments Buys Medical Office Building in Bellevue, Washington for 150-Room Hotel Redevelopment

by Amy Works July 26, 2024

BELLEVUE, WASH. — Seattle-based Kauri Investments has acquired a freestanding medical office building, located at 1300 116th Ave. in the Seattle suburb of Bellevue, for $6.7 million. The seller and existing tenant, Eye Clinic of Bellevue, will lease back the 5,519-square-foot building until the ophthalmology practice moves into a more modern facility. Once the lease ends, Kauri plans to redevelop the asset, which is on a large parcel, into a 150-key hotel. Kauri Investments currently owns six other hotel sites Washington and Oregon. Pat Mutzel of Cushman & Wakefield’s private capital group in Seattle brokered the off-market transaction.

July 26, 2024

Acquisitions Multifamily Nevada Seniors Housing Western

SLIB Brokers Sale of 122-Unit Sterling Ridge Seniors Housing Property in Las Vegas

by Amy Works July 26, 2024

LAS VEGAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Sterling Ridge Living, a 122-unit independent living, assisted living and memory care facility in Las Vegas, Nevada. The community was built in 1974 and was most recently renovated in 2023. The asset totals 89,719 square feet on 2.37 acres. The property offers 22 independent living units, 74 assisted living units 26 memory care units totaling 152 beds. The seller is a private equity firm that sought to exit its fund and the senior living industry. The buyer is a private owner-operator that divested its Midwest skilled nursing portfolio is now building up a private-pay portfolio in the West. Vince Viverito and Nick Cacciabando of SLIB managed the transaction. The price was not disclosed.

July 26, 2024

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