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Acquisitions

AcquisitionsIndustrialSouth CarolinaSoutheast

JLL Arranges Sale of 430,920 SF Sagebrook Home Distribution Center in Charleston

by John Nelson

CHARLESTON, S.C. —JLL Capital Markets has arranged the sale of Sagebrook Home Distribution Center, a 430,920-square-foot facility located at 574 Trade Center Parkway within the Charleston Trade Center. Completed in 2021, the property was fully leased at the time of sale to Sagebrook Home, a home décor company with showrooms in Atlanta, Las Vegas, Los Angeles and High Point, N.C. Stockbridge acquired the asset for an undisclosed price. Dave Andrews, Pete Pittroff, Patrick Nally and Josh McArdle of JLL represented the seller, Lightstone Group, in the transaction.

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AcquisitionsIndustrialTexas

Partners Real Estate Negotiates Sale of 37,221 SF Warehouse in Victoria, Texas

by Taylor Williams

VICTORIA, TEXAS — Partners Real Estate, the investment and brokerage firm formerly known as NAI Partners, has negotiated the sale of a 37,221-square-foot warehouse in Victoria, located roughly midway between Houston and Corpus Christi. Chris Caudill of Partners represented the buyer, Waste Management of Texas Inc., which also plans to occupy the facility, in the transaction. Nancy Garner of Woolson Real Estate Inc. represented the seller, Stallion Oilfield Services Ltd.

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AcquisitionsHealthcareNew JerseyNortheast

NAI Fennelly Negotiates Sale of 3,400 SF Medical Office Building in Hamilton, New Jersey

by Taylor Williams

HAMILTON, N.J. — NAI Fennelly has negotiated the sale of a 3,400-square-foot medical office building in Hamilton, located outside of Trenton in Mercer County. According to LoopNet Inc., the property at 2131 Route 33 was originally built in 1985. Matt Fennelly of NAI Fennelly represented the seller, Advanced Family Dentistry LLC, in the transaction. Stephen Kaplan of Keller Williams represented the buyer, an undisclosed private investor.

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AcquisitionsMichiganMidwestRetail

Dick’s Sporting Goods to Acquire Moosejaw

by Kristin Harlow

MADISON HEIGHTS, MICH. AND PITTSBURGH — Dick’s Sporting Goods has agreed to acquire outdoor retailer Moosejaw from Walmart. Founded in Michigan in 1992, Moosejaw operates brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri, in addition to its e-commerce platform. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers,” says Todd Spaletto, senior vice president of Pittsburgh-based Dick’s and president of the company’s specialty outdoor retailer, Public Lands. Moosejaw CEO Eoin Comerford will stay on following the acquisition, reporting to Spaletto. The deal is expected to close in March 2023.

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AcquisitionsHealthcareIndianaMidwest

Holladay Properties Sells 11,700 SF Urgent Care Facility in La Porte, Indiana

by Kristin Harlow

LA PORTE, IND. — Holladay Properties has sold an 11,700-square-foot primary and urgent care facility occupied by Northwest Health in La Porte, a city in Northwest Indiana. The sales price and buyer were undisclosed. Northwest Health will continue to operate the facility, which offers primary and urgent care services, two separate entrances and 80 parking spaces. Holladay Properties developed the building and Holladay Construction Group served as general contractor. Holladay has developed and constructed three buildings for Northwest Health with a fourth currently under construction in Valparaiso. Brian Wilcox of Holladay facilitated the transaction.

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AcquisitionsMultifamilyOregonSeniors HousingWestern

Cushman & Wakefield Brokers $57.8M Sale of The Alexander Bend Independent Living Community in Bend, Oregon

by Amy Works

BEND, ORE. — Cushman & Wakefield has arranged the sale of The Alexander Bend, a 136-unit independent living community in Bend. Opened in late 2019 and representing the city of Bend’s newest independent living offering in over 10 years, The Alexander Bend features 3.1 acres of adjacent land. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard represented the seller, BPM Real Estate Group, in the transaction. The buyer was Touchmark, which renamed the community Touchmark at Pilot Butte and will operate it alongside Touchmark at Mount Bachelor Village on the west side of Bend. The price was $57.8 million.

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400-S-Fourth-St-Las-Vegas-NV
AcquisitionsNevadaOfficeWestern

DIG Sells 109,189 SF City Centre Place Office Building in Downtown Las Vegas

by Amy Works

LAS VEGAS — Dornin Investment Group (DIG) has completed the disposition of City Centre Place, an office building located at 400 S. Fourth St. in downtown Las Vegas. California-based Ally Investments acquired the asset for $15.2 million. The six-story City Centre Place features 109,189 square feet of Class A office space. At the time of sale, the property was 36 percent occupied. Onsite amenities include an atrium, attached parking garage, controlled access, monument signage and security. Marc Magliarditi and Travis Landes of CBRE represented the seller in the transaction.

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7-Eleven-Indio-Perris-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Arranges Sales of Two 7-Eleven-Occupied Properties in Riverside County, California

by Amy Works

INDIO AND PERRIS, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sales of two new properties leased by 7-Eleven in Riverside County. Two different buyers acquired the assets for a combined total of $10.1 million. Bill Asher and Jeff Lefko of Hanley Investment Group represented the sellers, TSC Perris LLC and TSC Indio Golf Center LLC, in both transactions. In the first transaction, a private investor acquired a newly constructed, 3,494-square-foot 7-Eleven convenience store and gas station at the intersection of Golf Center Parkway and Avenue 45 in Indio. The property traded for $5.1 million, or $1,474 per square foot. Rick Lazar of Lee & Associates in Riverside represented the buyer. In the second deal, a Los Angeles-based private investor purchased a recently completed, 2,950-square-foot 7-Eleven convenience store and gas station at Perris and Harley Knox boulevards in Perris. The asset traded for $5 million, or $1,695 per square foot. Pooya Dayanim of Beverly Hills-based Dayanim Real Estate Corp. represented the buyer.

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3589-Harbor-Blvd-Costa-Mesa-CA
AcquisitionsCaliforniaIndustrialLee & AssociatesWestern

Lee & Associates Negotiates $6.1M Sale of 19,271 SF Flex Building in Costa Mesa, California

by Amy Works

COSTA MESA, CALIF. — Lee & Associates Orange has arranged the sale of a freestanding industrial/flex building in Costa Mesa. The property traded for $6.1 million. Located at 3587-3589 Harbor Blvd., the 19,271-square-foot building features a large fenced yard, three ground-level doors and 400 amps, 120/208 volt power. Greg Diab of Lee & Associates Orange represented the buyer in the deal.

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AcquisitionsAffordable HousingMultifamilySouth CarolinaSoutheastTop Stories

Greystone to Develop Four Affordable Housing Properties in South Carolina

by Jeff Shaw

GREENVILLE, SPARTANBURG AND COLUMBIA, S.C. — Greystone Affordable Development is serving as development manager four affordable housing properties totaling 855 units in South Carolina. The three properties include: The Park at Sondrio in Greenville, which comprises 271 one- and two-bedroom units. Greystone acquired the property for $38.1 million. The Park at Vietti in Spartanburg, which comprises 204 units. Greystone acquired the property for $26.9 million. According to Apartments.com, the property was originally built in 1986, and offers one- and two-bedroom floor plans. Windsor Shores in Columbia, comprising 176 units, which Greystone acquired for $22.4 million. The Ivy in Greenville, comprising 212 units, was acquired for $30.5 million. For the fourth transaction, Greystone’s Adam Lipkin originated a financing solution through GHI. Greystone Affordable Development will serve as the developer on this renovation project at that property as well. Two nonprofit entities recently acquired the portfolio — Greenville Housing Fund acquired The Ivy and Opportunity South Carolina acquired the other three. The acquisition price was $118 million. Greystone Housing Impact Investors LP (GHI) provided financing for the acquisition and rehabilitation development transactions. Cushman & Wakefield, with which Greystone has a strategic joint venture, provided multifamily investment sales advisement on the transactions. The teams …

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