Acquisitions

Colliers Brokers Sale of 68,279 SF Warehouse in Vernon Hills, Illinois

by Kristin Harlow March 8, 2023

VERNON HILLS, ILL. — Colliers has brokered the sale of a 68,279-square-foot industrial warehouse in the Chicago suburb of Vernon Hills for an undisclosed price. Built in 1996 and located at 220 N. Fairway Drive, the property features eight interior loading docks, one drive-in door, six trailer parking stalls and 75 car parking stalls. There is also 7,390 square feet of office space. Ned Frank and Pat Hake of Colliers represented the undisclosed seller. Justin Lerner, Joe Karmin and Ross Lehrman of Transwestern represented the buyer, frozen pizza maker Roncadin.

March 8, 2023

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $2.9M Sale of Retail Property in Granger, Indiana

by Kristin Harlow March 8, 2023

GRANGER, IND. — Marcus & Millichap has arranged the $2.9 million sale of a 17,539-square-foot retail property in Granger, a city in northern Indiana. Dunkin’ is the anchor tenant. Mitchell Kiven of Marcus & Millichap represented the seller, Cloverleaf Real Estate Group, an investment fund headquartered in Northbrook, Ill. Kiven also secured and represented the buyer, a LaPorte, Ind.-based private investor. Dean Giannakopoulos and Frank Montalto of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer. The asset sold at full asking price.

March 8, 2023

Acquisitions New Jersey Northeast Office Retail

Cushman & Wakefield Negotiates $5.2M Sale of Office, Retail Building in Livingston, New Jersey

by Taylor Williams March 8, 2023

LIVINGSTON, N.J. — Cushman & Wakefield has negotiated the $5.2 million sale of a 27,252-square-foot office and retail building in the Northern New Jersey community of Livingston. The two-story building sits on 2.3 acres and was fully leased at the time of sale. Andy Schwartz, Brian Whitmer, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller, ACFM Corp., in the transaction. The buyer was HREA LLC.

March 8, 2023

Acquisitions Industrial Lee & Associates New Jersey Northeast

Lee & Associates Brokers Sale of 20,000 SF Warehouse in Clifton, New Jersey

by Taylor Williams March 8, 2023

CLIFTON, N.J. — Lee & Associates has brokered the sale of a 20,000-square-foot warehouse in the Northern New Jersey community of Clifton. The building at 25 Styertowne Road is a single-tenant property that was fully leased to food manufacturer Pereg Gourmet at the time of sale. Josh Krantz of Lee & Associates represented the seller, New Jersey-based Kessler-Schwartz Associates, and procured the undisclosed buyer in the off-market deal.

March 8, 2023

Acquisitions California Office Retail Western

Joint Venture Acquires 208,000 SF Office, Retail Building on Hollywood’s Walk of Fame

by Amy Works March 8, 2023

LOS ANGELES — A joint venture between Kairos Investment Management Co. (KIMC) and Harbor Associates has purchased 6922 Hollywood Boulevard, a 12-story office and retail property in the Hollywood neighborhood of Los Angeles. Terms of the transaction were not released. Situated at the intersection of North Orange Drive and Hollywood Boulevard, the 208,000-square-foot building features 37,000 square feet of ground-floor retail space and an underground and adjacent five-story parking garages. Retail tenants include Wahlburgers, CaboWabo, US Bank and Line Friends. The Trail Park Group occupies the top three floors of office space. The joint venture plans to implement site and façade improvements and update vacant office space with a goal of reaching 85 percent to 90 percent occupancy by the end of 2025.

March 8, 2023

Acquisitions Colorado Retail Western

Cushman & Wakefield Brokers Purchase of 9,100 SF Retail Building in Northern Colorado

by Amy Works March 8, 2023

WELLINGTON, COLO. — Cushman & Wakefield has arranged the acquisition of a single-tenant freestanding retail property located at 7590 Fifth St. in Wellington. A joint venture between Stover LLC, Cheyenne I LLC, Cheyenne II LLC and Meldrum LLC acquired the asset from Wellington CO DG LLC for $2.5 million. Dollar General occupies the 9,100-square-foot building, which was built in 2021. Jared Goodman and Anne Spry of Cushman & Wakefield represented the buyer, while John Wertz of Wertz Real Estate & Investment Services represented the seller in the deal.

March 8, 2023

44-01-Northern-Boulevard-Cantor Fitzgerald

Acquisitions Colorado Net Lease Restaurant Retail Western

Blue West Capital Negotiates $2.7M Sale of Starbucks-Occupied Building in Centennial, Colorado

by Amy Works March 8, 2023

CENTENNIAL, COLO. — Blue West Capital has brokered the sale of a single-tenant retail property, located at 20201 E. Smoky Hill Road in Centennial. A Colorado-based real estate investment company sold the asset to a Colorado-based family for $2.7 million. Starbucks Coffee occupies the newly constructed building on a net-lease basis. Tom Ethington of Blue West Capital represented the seller in the transaction.

March 8, 2023

Acquisitions Industrial Texas

Keen-Summit Capital Arranges $102.2M Bankruptcy Sale of Austin Office Portfolio

by Taylor Williams March 7, 2023

AUSTIN, TEXAS — New York-based brokerage firm Keen-Summit Capital Partners has arranged the $102.2 million bankruptcy sale of a portfolio of 13 office buildings, which are collectively known as Braker Metric Business Park, and one retail strip center in Austin. The sales price represents a cap rate of 5.7 percent. According to the Austin Business Journal, the portfolio was previously owned by locally based investment firm World Class Holdings. The buyer was MIG Real Estate Partners. The office component totals 544,497 square feet, and the retail property spans 15,302 square feet. The properties are located at the intersections of West Braker Lane, Kramer Lane and Metric Boulevard on the city’s north-central side.

March 7, 2023

Acquisitions Industrial Texas

Cold Creek Solutions Sells 300,000 SF Cold Storage Facility in San Antonio

by Taylor Williams March 7, 2023

SAN ANTONIO — Cold Creek Solutions, a cold storage developer based in the Dallas-Fort Worth area, has sold a roughly 300,000-square-foot facility located at the intersection of I-10 and Loop 410 in San Antonio. The newly built facility features convertible spaces with temperatures ranging from -20 to 55 degrees Fahrenheit to accommodate a range of food uses. Additional building features include 48-foot clear heights, 45,000 pallet positions and 6,000 square feet of office space. ARCO National Construction served as the general contractor for the project.

March 7, 2023

Acquisitions Industrial Texas

Cypressbrook Negotiates Sale of 25,000 SF Industrial Building in North Houston

by Taylor Williams March 7, 2023

HOUSTON — Cypressbrook Co. has negotiated the sale of a 25,000-square-foot industrial building that sits on a two-acre site within Central Green Business Park in North Houston. According to LoopNet Inc., the single-tenant property at 1950 S. Starpoint Drive was built in 1982. John Hornbuckle of Cypressbrook Co. represented the seller, LuAnn Houston Properties, in the transaction. Wes Cole of Rubicon Representation represented the buyer, an entity doing business as Coral Sea Holdco LLC.

March 7, 2023

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