Acquisitions

Knightvest Capital Acquires 332-Unit Apartments at Brayden in Metro Charlotte

by John Nelson May 15, 2023

FORT MILL, S.C. — Knightvest Capital has acquired The Apartments at Brayden, a 332-unit, garden-style multifamily community located in Fort Mill, approximately 20 miles southwest of Charlotte. The seller and sales price were not disclosed. Built in 2016, the property comprises apartments in one-, two- and three-bedroom floor plans. Amenities at the community include a swimming pool, fitness center and clubhouse. The Apartments at Brayden marks Knightvest’s fifth acquisition in metro Charlotte since 2020.

May 15, 2023

Acquisitions Industrial New Jersey Northeast

CBRE Brokers $13M Sale of Light Industrial Building in Swedesboro, New Jersey

by Taylor Williams May 15, 2023

SWEDESBORO, N.J. — CBRE has brokered the $13 million sale of a 119,000-square-foot light industrial building in Swedesboro, about 25 miles south of Philadelphia. The single-tenant building sits on 12 acres and houses the corporate headquarters and distribution center of Thomas Scientific, a supplier of lab equipment. Stephen Marzullo, Adam Silverman, Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE represented the seller, Newvine Corp., in the transaction. The buyer was New Jersey-based investment firm Faropoint.

May 15, 2023

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges Sale of Two-Tenant Retail Property in Lowell, Indiana

by Kristin Harlow May 15, 2023

LOWELL, IND. — Marcus & Millichap has arranged the sale of a two-tenant retail property occupied by Advance Auto Parts and Subway in Lowell, a city in Northwest Indiana. The sales price and seller were undisclosed. The 36,155-square-foot building is located at 1729 E. Commercial Ave. Joseph Van Vuren and Nicholas Kanich of Marcus & Millichap represented the buyer, a local private investor. Josh Caruana of Marcus & Millichap assisted in closing the transaction as the broker of record in Indiana.

May 15, 2023

Acquisitions Illinois Industrial Midwest

Clear Height Properties Acquires 18,800 SF Industrial Service Facility in Suburban Chicago

by Kristin Harlow May 15, 2023

FRANKLIN PARK, ILL. — Clear Height Properties has acquired an 18,800-square-foot industrial service facility (ISF) located at 9211 Gage Ave. in the Chicago suburb of Franklin Park. The sales price was undisclosed. ISFs are used to store, maintain or dispatch vehicles, equipment and materials. The property features a 30 percent building-to-land ratio, four drive-in doors and a fully gated and secured parking area for a fleet of field service vehicles. Ryan Widerberg of eXp Realty brokered the sale. Clear Height hired Jason Lev and Jimmy Kowalczyk of CBRE to market the property for lease.

May 15, 2023

Acquisitions California Retail Western

CBRE Brokers $40M Sale of Coronado Plaza Retail Center in California

by Jeff Shaw May 15, 2023

CORONADO, CALIF. — CBRE has brokered the $40 million sale of Coronado Plaza, a 41,949-square-foot retail center in Coronado. Built in 1981, the three-story property is situated across from the Hotel Del Coronado. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the seller, an entity doing business as PREF Coronado Plaza LLC, in the transaction.

May 15, 2023

Acquisitions California Multifamily Western

79 Lotus Apts Buys Three-Property Multifamily Portfolio in San Bernardino, California for $12M

by Jeff Shaw May 15, 2023

SAN BERNARDINO, CALIF. — 79 Lotus Apts, LLC acquired a multifamily portfolio in San Bernardino’s South Pointe neighborhood for $12 million. San Bernardino is located 60 miles east of Los Angeles. The portfolio comprises 79 units across three properties, including: Lotus, a 19-unit property; Steel Park Manor, a 32-unit property; and Wier Park, a 28-unit property. Units come in one- and two-bedroom floorplans. CBRE’s Eric Chen represented both the buyer and the undisclosed sellers in the transaction.

May 15, 2023

Acquisitions California Retail Western

Progressive Arranges $6M Sale of South Sierra Plaza Shopping Center in Fontana, California

by Jeff Shaw May 15, 2023

FONTANA, CALIF. — Progressive Real Estate Partners has arranged the $6 million sale of South Sierra Plaza, a 17,250-square-foot strip retail center located in Fontana. Comprising 12 units, the property was 93 percent leased at the time of sale to tenants including a dentist, nail salon, Armed Forces career center, staffing agency, Japanese restaurant and Peruvian restaurant. Brad Umansky and Lance Mordachini of Progressive represented the seller, a private Los Angeles-based investor, in the transaction. Paul Galmarini and Albert Lopez, also of Progressive, handled leasing at the property prior to the sale. Cameron Diab of D & Z Properties represented the buyer, another Los Angeles-based private investor.

May 15, 2023

Acquisitions Florida Retail Southeast

WS Development, PGIM Purchase 550,000 SF Retail Center in Viera, Florida

by John Nelson May 12, 2023

VIERA, FLA. — WS Development and PGIM Real Estate have acquired The Avenue Viera, a 550,000-square-foot, open-air retail center located directly off I-95 in Viera. Situated within the 43,000-acre master-planned Viera community in Brevard County, the property houses more than 80 retail, restaurant and entertainment tenants, including AMC Theatres, Belk, Chili’s, Cost Plus World Market, Kohl’s, lululemon athletica, Moe’s Southwest Grill, Old Navy, Sephora and Urban Air Adventure Park. Massachusetts-based WS Development will assume management of the center and will share ownership with PGIM, which has owned Avenue Viera since 2006. The sales price was not disclosed. WS Development and PGIM plan to remerchandise the center, as well as host events and install public art.

May 12, 2023

Acquisitions Development Georgia Healthcare Southeast

Anchor Health Acquires Medical Office Building in Metro Atlanta, Plans 40,000 SF Development

by John Nelson May 12, 2023

LAWRENCEVILLE, GA. — Anchor Health Properties has acquired a 40,000-square-foot medical office building in Lawrenceville, roughly 30 miles outside Atlanta. Located at 595 Hurricane Shoals Road N.W. in Gwinnett County, the property was fully leased at the time of sale to tenants including anchor Northside Health, Fresenius Medical Care, Georgia Nephrology, Palmetto Infusion, Amedisys Home Health and Gwinnett Pediatrics. Anchor’s acquisition also included an adjacent outparcel, and the company has announced plans to develop a three-story, 40,000-square-foot medical office building at the site. Construction is scheduled to begin in the fourth quarter of this year, and Women’s Group of Gwinnett has committed to occupy 16,000 square feet upon completion. Michael Lipton and Josh Gregory of Colliers’ Atlanta office represented Anchor in the transaction. The team also represented Women’s Group Georgia in leasing negotiations. Brandon Wallace of Meadows & Ohly represented the undisclosed seller, and Wintrust Bank provided debt financing services. The sales price and loan amount were not disclosed.

May 12, 2023

Acquisitions Industrial Texas

Partners Real Estate Brokers Sale of 25,000 SF Industrial Building in Metro Houston

by Taylor Williams May 12, 2023

TOMBALL, TEXAS — Partners Real Estate has brokered the sale of a 25,000-square-foot industrial building located in the northern Houston suburb of Tomball. The building, which sits on 6.7 acres at 1302 S. Cherry St., was built in 1980 and features 30-foot clear heights, according to LoopNet Inc. Wyatt Huff and Cary Latham of Partners represented the seller, an entity doing business as Timber Trails Business Park LLC, in the lease negotiations. The duo also procured the buyer, Harbor Hill Holdings.

May 12, 2023

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