Acquisitions

Stream Realty Partners Acquires 599,988 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow July 19, 2024

BUFFALO GROVE, CHICAGO AND MOKENA, ILL. — Stream Realty Partners has acquired a four-building industrial portfolio totaling 599,988 square feet of Class A space in metro Chicago for an undisclosed price. The assets include: Asbury Drive, a 157,000-square-foot building in Buffalo Grove; Rockwell Logistics Center, a 174,262-square-foot property in Chicago; and Mokena Logistics I and II, two buildings totaling 268,226 square feet in Mokena. The portfolio is fully leased to seven tenants. Patrick Russo, Mustafa Ali and Ben Harrison facilitated the acquisition for Stream on an internal basis. Ryan Bain, Michael Caprile, Zach Graham, Judd Welliver, Bentley Smith, Joe Horrigan and Victoria Gomez of CBRE brokered the sale. Local brokers Whit Heitman, Sam Badger, Larry Goldwasser and Terry Grapenthin assisted on the transaction.

July 19, 2024

Acquisitions Midwest Retail Wisconsin

Mid-America Negotiates Sale of 63,750 SF Shopping Center in Germantown, Wisconsin

by Kristin Harlow July 19, 2024

GERMANTOWN, WIS. — Mid-America Real Estate Corp. has negotiated the sale of Germantown Plaza in the Milwaukee suburb of Germantown for an undisclosed price. The 63,750-square-foot shopping center is home to Aldi, Petco and Michaels, which have all operated at the property since 2003. Rick Drogosz, George Ghattas and Dan Rosenfeld of Mid-America represented the seller, Crown Group. HJ Development was the buyer.

July 19, 2024

Acquisitions Midwest Minnesota Retail

Marcus & Millichap Arranges $4.2M Sale of Retail Strip Center in Rochester, Minnesota

by Kristin Harlow July 19, 2024

ROCHESTER, MINN. — Marcus & Millichap has arranged the sale of a Target-shadowed retail strip center in Rochester for $4.2 million. Located at 3801 Marketplace Drive NW just off Highway 52, the 8,780-square-foot property is fully occupied by Spectrum, Potbelly Sandwich Shop, Leann Chin and Infinity Nails. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the undisclosed buyer and seller.

July 19, 2024

Acquisitions Industrial Midwest Wisconsin

Transwestern Brokers Sale of Industrial Outdoor Storage Property in Hudson, Wisconsin

by Kristin Harlow July 19, 2024

HUDSON, WIS. — Transwestern Real Estate Services has brokered the sale of a 7.1-acre industrial outdoor storage property in Hudson, about 30 miles east of Minneapolis. The asset is located at 2310 O’Neil Road. Chris Weirens of Transwestern represented the seller, Rajean LLC. Interstate Development purchased the asset for an undisclosed price.

July 19, 2024

Acquisitions Multifamily Southeast Tennessee

Lion Real Estate Group Acquires 312-Unit Bradford Woods Apartments in Nashville

by John Nelson July 18, 2024

NASHVILLE, TENN. — Lion Real Estate Group (LREG) has acquired Bradford Woods, a 312-unit apartment community located at 5242 Edmondson Pike in Nashville. The seller and sales price were not disclosed. Walker & Dunlop’s Nashville office brokered the transaction, which included LREG assuming an existing Fannie Mae loan. LREG plans to rebrand the property as The Grove Brentwood and completely overhaul the leasing office/clubhouse, gym, pool area and all other onsite amenities. Additionally, the company plans to modernize unit interiors with stainless steel appliances, quartz countertops and upgraded lighting. The Grove Brentwood is LREG’s fourth acquisition in its current investment vehicle and 26th property overall in its portfolio that spans across five states.

July 18, 2024

Acquisitions Massachusetts Northeast Retail

CBRE Arranges $23M Sale of Shopping Center in Weymouth, Massachusetts

by Taylor Williams July 18, 2024

WEYMOUTH, MASS. — CBRE has arranged the $23 million sale of Riverway Plaza, a 250,000-square-foot shopping center in Weymouth, a southern suburb of Boston. Lowe’s Home Improvement anchors the center, which sits on 23 acres. Other tenants include Michael’s, Dollar Tree and Staples. Nat Heald and Jordana Roet of CBRE represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

July 18, 2024

Acquisitions Industrial New York Northeast

Realterm Acquires Industrial Outdoor Storage Facility in Valley Cottage, New York

by Taylor Williams July 18, 2024

VALLEY COTTAGE, N.Y. — Maryland-based investment firm Realterm has acquired an industrial outdoor storage facility in Valley Cottage, located just across the New York-New Jersey border. The 37,560-square-foot facility was built on a 5.4-acre site in 2009 and consists of a seven-bay, drive-thru maintenance facility, a concrete storage yard and office spaces. Realterm plans to implement a value-add program. The seller was not disclosed.

July 18, 2024

Acquisitions California Multifamily Western

Dinerstein Cos. Sells Millennium PQ Multifamily Community in San Diego for $167M

by Amy Works July 18, 2024

SAN DIEGO — The Dinerstein Cos. has completed the disposition of Millennium PQ, a multifamily property located in San Diego’s Rancho Penasquitos neighborhood, to GID Real Estate Investments for $167 million, or $504,532 per unit. Millennium PQ features 331 apartments with high-end finishes and resort-style amenities in a low-density, garden-style setting. Hunter Combs led the Walker & Dunlop investment sales team that represented the seller and buyer in the transaction.

July 18, 2024

Acquisitions California Multifamily Western

Gelt Venture Partners Buys Rancho Hills Apartments in Vista, California for $53.5M

by Amy Works July 18, 2024

VISTA, CALIF. — Gelt Venture Partners has purchased Rancho Hills Apartments in Vista, approximately 40 miles north of San Diego. An undisclosed party sold the asset for $53.5 million. The 148-unit apartment community is located at 856 Heatherwood Lane. Built in 1986, the garden-style property features 10 two-story buildings on 7.3 acres. The community includes a mix of 56 one-bedroom units and 92 two-bedroom units with floor plans ranging from 553 square feet to 909 square feet. Recently upgraded apartments include washers/dryers, quartz countertops, stainless steel appliances and private balconies/patios. On-site amenities include a clubhouse, fitness center, pool, spa and a gas barbecue area. Rachel Parsons, Derrek Ostrzyzek and Mike Murphy of CBRE represented the buyer and seller in the deal.

July 18, 2024

Acquisitions Arizona Industrial Western

EQT Exeter Acquires 326,018 SF Falcon Park Phase II Industrial Property in Glendale, Arizona

by Amy Works July 18, 2024

GLENDALE, ARIZ. — EQT Exeter, a real estate division of EQT, has purchased Falcon Park 303 – Phase II, a 326,018-square-foot, Class A industrial building on more than 21 acres in Glendale. US Capital Development (USCD) and an institutional investor sold the asset for $50 million. A single tenant occupies the freestanding building, which was completed on a speculative basis in 2023. Totaling 925,504 square feet, Falcon Park 303 – Phase I and II are located at 15132 and 15152 W. Camelback Road, respectively. Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the sellers in the disposition. Cushman & Wakefield’s Mike Haenel, Andy Markham, Phil Haenel and Foster Bundy provided market leasing advisory in the sale, as well as brokered the full-building lease with the existing tenant in fourth-quarter 2023. In 2023, the Cushman & Wakefield team brokered the sale of Falcon Park – Phase I to Cohen Asset Management for $81.7 million, while the Cushman & Wakefield equity debt structured finance team arranged the financing for the buyer.

July 18, 2024

Newer Posts

Older Posts