Acquisitions

Venture One Acquires Three-Building Industrial Portfolio in Bensenville, Illinois

by Kristin Harlow December 14, 2023

BENSENVILLE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a three-building industrial portfolio totaling 88,741 square feet in the Chicago suburb of Bensenville. The purchase price was undisclosed. The properties, all located on County Line Road, were constructed in 1991. The buildings are demised into 10 units, each of which is equipped with a dock, drive-in door and office space. Eric Fischer and Jackson Elder of Cushman & Wakefield represented Venture One. Seller information was not provided. VK Industrial VI is co-sponsored by Venture One and Kovitz Investment Group.

December 14, 2023

Acquisitions Industrial New York Northeast

Ariel Property Advisors Negotiates $5.2M Sale of Bronx Warehouse

by Taylor Williams December 14, 2023

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.2 million sale of a 27,000-square-foot warehouse located in the Mount Eden area of The Bronx that was originally built in 1920, according to propertyshark.com. The site at 1419 Inwood Ave. can support up to 87,000 square feet of development. Jason Gold and Daniel Mahfar of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.

December 14, 2023

Acquisitions Industrial Texas

Versal Negotiates Sale of 240-Unit Self-Storage Facility in Kyle, Texas

by Taylor Williams December 13, 2023

KYLE, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of Highway 21 Storage, a 240-unit facility located roughly 25 miles south of downtown Austin in Kyle. The facility was built in 2021 and 2022 and totals 68,775 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the private, Texas-based seller in the transaction. The team also procured the buyer, New York-based Andover Properties, which will operate the facility under its Storage King USA brand.

December 13, 2023

Acquisitions Industrial Texas

Quilvest, Axis Industrial Outdoor Storage Acquire 18.6-Acre Site in San Antonio

by Taylor Williams December 13, 2023

SAN ANTONIO — A joint venture between global private investment firm Quilvest Capital Partners and Atlanta-based Axis Industrial Outdoor Storage (IOS) has acquired an 18.6-acre site in San Antonio. The site at 9415 NE Loop 410 is located in the city’s Eastgate neighborhood and houses the operations of Anderson Machinery Co. The seller and sales price were not disclosed. The deal is the first of the joint venture’s larger initiative to acquire and operate an approximately $500 million portfolio of IOS properties across the country.

December 13, 2023

Acquisitions Multifamily New Jersey Northeast

JLL Arranges $18.6M Loan for Refinancing of Jersey City Apartment Complex

by Taylor Williams December 13, 2023

JERSEY CITY, N.J. — JLL has arranged an $18.6 million loan for the refinancing of an 83-unit apartment complex in the Journal Square area of Jersey City. The six-story building at 39 High St. was delivered earlier this year and houses a mix of studio, one-, two- and three-bedroom units. Amenities include a fitness center, tenant lounge, children’s playroom and a rooftop terrace. Matthew Pizzolato, Max Custer and John Cumming of JLL arranged the fixed-rate loan through an undisclosed life insurance company. The borrower was a partnership between Spitzer Enterprises and Titanium Realty Group.

December 13, 2023

Acquisitions Northeast Office Retail Rhode Island

NEPCG Negotiates Sale of 33,700 SF Office, Retail Building in Providence

by Taylor Williams December 13, 2023

PROVIDENCE, R.I. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the sale of a 33,700-square-foot office and retail building in Providence. Known as The Lauderdale Building, the downtown-area property consists of nine office suites and three retail spaces. Tim McGeary and Rick Welch of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

December 13, 2023

Acquisitions Retail Southeast Virginia

Sterling Organization Acquires Shopping Center in Metro D.C. for $31.4M

by John Nelson December 13, 2023

BRISTOW, VA. — West Palm Beach, Fla.-based Sterling Organization has acquired Braemar Village Center, a retail center located in Bristow, roughly 40 miles outside Washington, D.C., for $31.4 million. A 57,860-square-foot Safeway anchors the property, which totals 111,635 square feet. Other tenants at the center include Subway, Bank of America, Dunkin’ and Arby’s. The seller was not disclosed.

December 13, 2023

Acquisitions Industrial Maryland Southeast

CREG Purchases Metro Baltimore Industrial Portfolio for $4.3M

by John Nelson December 13, 2023

COLUMBIA, MD. — Chesapeake Real Estate Group LLC (CREG) has purchased a three-building industrial portfolio in the Baltimore suburb of Columbia for $4.3 million. The Howard County portfolio, dubbed Rivers III, comprises a 16,411-square-foot facility at 10270 Old Columbia Road, a 16,623-square-foot property at 10280 Old Columbia Road and a 10,372-square-foot building at 10290 Old Columbia Road. The portfolio was 78 percent leased at the time of sale to tenants including American Health Associates, CARAFAP, G3 Technologies, Keysight Technologies, Maryland Works and Stage Front Trucks. Cris Abramson and Nick Signor of Newmark represented the seller, Adler Real Estate Partners, in the transaction. Baltimore-based CREG was self-represented.

December 13, 2023

Acquisitions Build-to-Rent California Development Single-Family Rental Western

Kidder Mathews Brokers Sale of 188-Unit Aviatrix Build-to-Rent Development Site in Fairfield, California

by Amy Works December 13, 2023

FAIRFIELD, CALIF. — Kidder Mathews has arranged the sale of The Aviatrix, an 18.9-acre build-to-rent development site in the Bay Area city of Fairfield. Republic Urban Properties acquired the asset for an undisclosed price. Located at 5005 Peabody Road, The Aviatrix will offer 188 build-to-rent townhomes, a clubhouse, pool, spa, multi-use sport court and trail system. Matthew Clark of Kidder Mathews represented the buyer and undisclosed seller in the deal.

December 13, 2023

Acquisitions California Office Western

County of Ventura Buys Vacant 98,841 SF Office Building in Thousand Oaks, California

by Amy Works December 13, 2023

THOUSAND OAKS, CALIF. — The County of Ventura has acquired a vacant office building located at 2400 Conejo Spectrum in Thousand Oaks for $14.9 million. The county plans to utilize the 98,841-square-foot building for its fire department administrative headquarters. Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll of Newmark represented the undisclosed the transaction. Built in 2001, the building features 16-foot ceiling heights, a 100-pound live load capacity on the second story and a 4:1,000-square-foot parking ratio with easy truck ingress/egress. The building was originally developed as a two-building office campus with 2380 Conejo Spectrum, which the seller plans to retain.

December 13, 2023

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