Acquisitions

7245-Commerce-Center-Dr-Colorado-Springs-CO

Marcus & Millichap Brokers Sale of 125-Room Wingate by Wyndham Colorado Springs

by Amy Works November 17, 2023

COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of Wingate by Wyndham Colorado Springs, a hotel located at 7245 Commerce Center Drive in Colorado Springs. A private investor acquired the asset from a limited liability company for an undisclosed price. The buyer plans to re-position the 125-key hotel under a new brand. Onsite amenities include an indoor pool, fitness center, business center, meeting space, laundry facility, breakfast area and bus parking. Additionally, the property allows easy access to downtown Colorado Springs, Garden of the Gods and Pikes Peak.

November 17, 2023

Acquisitions California Restaurant Retail Western

JLL Capital Markets Negotiates $3.3M Sale of El Pollo Loco-Occupied Restaurant Property in San Rafael, California

by Amy Works November 16, 2023

SAN RAFAEL, CALIF. — JLL Capital Markets has brokered the $3.3 million sale of a single-tenant retail building located at 910 Anderson Drive in the Bay Area city of San Rafael. El Pollo Loco, a fast-casual restaurant chain, occupies the 2,626-square-foot building on a triple-net lease that is corporate guaranteed and has 13 years remaining on its term with options for extension. Eric Kathrein and Warren McClean of JLL Retail Capital Markets handled the transaction. The names of the seller and buyer were not released.

November 16, 2023

Acquisitions Colorado Industrial Self-Storage Western

Marcus & Millichap Brokers Sale of 79,605 SF Self-Storage Facility in Aurora, Colorado

by Amy Works November 16, 2023

AURORA, COLO. — Marcus & Millichap has arranged the sale of a StorQuest-managed self-storage facility situated on the southeast side of the E-470 loop in Aurora. A local private equity group sold the asset to an out-of-state firm for an undisclosed price. The 79,605-square-foot asset features a multi-story, climate-controlled building and 11 single-story buildings offering a total of 261 climate-controlled units and 353 non-climate-controlled units. The facility offers 24-hour video surveillance, interior and exterior lighting, secure digital keypad ingress/egress, a leasing office with conference room, prominent storage and wide drive aisles. Adam Schlosser and Charles LeClaire of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

November 16, 2023

Acquisitions Industrial North Carolina Southeast

Cushman & Wakefield Brokers Sale of 175,239 SF Manufacturing Facility in Bessemer City, North Carolina

by John Nelson November 16, 2023

BESSEMER CITY, N.C. — Cushman & Wakefield has brokered the sale of a 175,239-square-foot manufacturing facility located at 201 Southridge Parkway in Bessemer City, a western suburb of Charlotte. KORE Investments acquired the Class A property from the previous owner and tenant, Hunter Douglas, a window manufacturer that closed the facility earlier this year, according to local media outlets. Matt Treble and Andrew DeLamielleure of Cushman & Wakefield represented the buyer in the transaction. The sales price was not disclosed. KORE Investments plans to backfill the facility with a new tenant in the coming months.

November 16, 2023

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $11.8M Sale of Northern New Jersey Multifamily Property

by Taylor Williams November 16, 2023

BELLEVILLE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $11.8 million sale of Brighton Estates, a 95-unit multifamily property located in the Northern New Jersey community of Belleville. Built in 1962 and recently renovated, Brighton Estates consists of three two-story buildings that house 13 studios, 66 one-bedroom units and 16 two-bedroom apartments. Tom Scatuorchio of Kislak represented the seller in the transaction. Andrew Scheinerman of Kislak procured the buyer. Both parties requested anonymity.

November 16, 2023

Acquisitions Connecticut Healthcare Northeast

Colliers Brokers Sale of 37,731 SF Medical Office Complex in Torrington, Connecticut

by Taylor Williams November 16, 2023

TORRINGTON, CONN. — Colliers has brokered the sale of 245 Alvord Park, a 37,731-square-foot medical office complex in Torrington, a western suburb of Hartford. Litchfield Hills Orthopedic Associates, an affiliate of Hartford Healthcare, anchors the property. An entity doing business as IJAN 2 CT Realty LLC sold the asset to a partnership between Boston-based Sendero Capital and alternative asset manager Angelo Gordon for $8.1 million. Phil Gagnon, Ian Hunt and John Cafasso of Colliers brokered the deal.

November 16, 2023

Acquisitions Healthcare Illinois Midwest

Remedy Medical Properties, Kayne Anderson Real Estate Acquire Medical Office Building in Suburban Chicago for $71M

by Kristin Harlow November 16, 2023

OAK BROOK, ILL. — A joint venture between Remedy Medical Properties and Kayne Anderson Real Estate has acquired the RUSH Oak Brook Medical Center in the Chicago suburb of Oak Brook. RUSH University System for Health sold the property for nearly $71 million, according to Crain’s Chicago Business. The three-story, 93,386-square-foot medical office building and ambulatory surgery center is 99 percent leased by RUSH University System for Health and Midwest Orthopaedics at RUSH, a division of OrthoMidwest. Located at 2011 York Road, the property was completed in 2018. Services offered at the facility include physical therapy and rehabilitation; neurosurgery; ear, nose and throat; OB/GYN; dermatology, pain management; gastroenterology; and primary care.

November 16, 2023

Acquisitions Development Industrial Self-Storage Texas

SurePoint Development Agrees to Buy 651-Unit Self-Storage Facility in Fulshear, Texas

by Taylor Williams November 15, 2023

FULSHEAR, TEXAS —SurePoint Development, a self-storage owner-operator based in San Antonio, has agreed to purchase an 651-unit facility that is under construction in Fulshear, a western suburb of Houston. The site is located near the intersection of Texas Heritage Parkway and FM 1093, and the single-story facility will span 83,000 net rentable square feet of predominantly climate-controlled space. Completion is slated for next spring. The seller was not disclosed.

November 15, 2023

Acquisitions Florida Industrial Loans Southeast

Axiom Arranges $2.1M Acquisition Financing for Industrial Property on Florida’s Space Coast

by John Nelson November 15, 2023

MELBOURNE, FLA. — Axiom Capital has arranged a $2.1 million loan for the acquisition of an industrial property located 1.5 miles from I-95 in Melbourne, a city on Florida’s Space Coast. Constructed on a 4.2-acre site in 1998, the 30,000-square-foot property features 18- to 20-foot ceiling heights, two dock doors, three drive-in doors and 101 car parking spaces. The borrower was not disclosed.

November 15, 2023

Acquisitions Multifamily Northeast Northmarq Pennsylvania

Northmarq Negotiates Sale of 159-Unit Manufactured Housing Community in Newville, Pennsylvania

by Taylor Williams November 15, 2023

NEWVILLE, PA. — Northmarq has negotiated the sale of Big Spring Terrace, a 159-unit manufactured housing community in Newville, about 140 miles west of Philadelphia. The property was originally constructed on a 94-acre site in 1975 and was roughly 94 percent occupied at the time of sale. Anthony Pino and Ari Azarbarzin of Northmarq represented the seller, Pennsylvania-based Big Springs Properties, in the transaction. The buyer and sales price were not disclosed.

November 15, 2023

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