Acquisitions

Marcus & Millichap Brokers Sale of 327,136 SF Industrial Building in Sebastian, Florida

by John Nelson November 11, 2022

SEBASTIAN, FLA. — Marcus & Millichap has arranged the sale of The Liberty Building, a 327,136-square-foot industrial building located in Sebastian. In addition to industrial and office space, the property features a cafeteria and food preparation area, vending areas, a gymnasium, exercise rooms and employee restrooms and showers. Alex Zylberglait and Michael Crocchiola of Marcus & Millichap represented the seller, Hammond Development Group, in the $6.9 million transaction. Zylberglait and Crocchiola also procured and represented the buyer, TLC Land Holdings.

November 11, 2022

Acquisitions Alabama Retail Southeast

Last Mile Purchases 49,821 SF Retail Center in Huntsville

by John Nelson November 11, 2022

HUNTSVILLE, ALA. —Last Mile Investments has purchased Whitesburg Center, a 49,821-square-foot shopping center located at 5000 Whitesburg Drive in Huntsville. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represent the seller, Baker Storey McDonald Properties, in the transaction. The sales price was not disclosed. Built in 1990 and renovated in 2002, the center is leased to tenants including Dollar Tree, Hollywood Feed, Edible Arrangements, Baskin Robbins, Buff City Soap and Papa Murphy’s.

November 11, 2022

Acquisitions Multifamily Texas

Midway, Arc Capital Acquire 198-Unit Sabine Street Lofts Apartments in Houston

by Taylor Williams November 11, 2022

HOUSTON — A joint venture between locally based developer Midway and Los Angeles-based investment firm Arc Capital Partners has acquired Sabine Street Lofts, a 198-unit apartment complex located near downtown Houston. Built in 2001, the complex houses one- and two-bedroom units with an average size of 1,017 square feet that feature quartz countertops, individual washers and dryers and private balconies/patios. Amenities include two pools, a fitness center, outdoor lounge areas and access to Houston’s Buffalo Bayou trail network. Tom Fish and Jonathan Paine of Walker & Dunlop arranged acquisition financing on behalf of the joint venture. The seller and sales price were not disclosed.

November 11, 2022

Acquisitions Life Sciences Texas

Oldham Goodwin Sells 175,752 SF Life Sciences Facility in College Station, Texas

by Taylor Williams November 11, 2022

COLLEGE STATION, TEXAS — Oldham Goodwin has sold the Westinghouse Building at Providence Park, a 175,752-square-foot life sciences facility in College Station. Oldham Goodwin acquired the facility, which was originally built in 1983 as a manufacturing plant for Westinghouse Electronic Systems Group, in 2016. At that point, the facility had been shuttered since 1999. Dallas-based Big Sky Medical Real Estate purchased the asset for an undisclosed price.

November 11, 2022

Acquisitions Industrial Texas

Colonial Commercial Negotiates Sale of 80,000 SF Industrial Building in Fort Worth

by Taylor Williams November 11, 2022

FORT WORTH, TEXAS — Locally based brokerage firm Colonial Commercial Real Estate has negotiated the sale of an 80,000-square-foot industrial building located near Fort Worth’s downtown area. Baillargeon Realty LLC sold the property at 205 N. Vacek St. to Tarrant Area Food Bank, a local nonprofit, for an undisclosed price. Jane Tapper of Colonial Commercial represented both parties in the transaction. The buyer also operates a food bank across the street.

November 11, 2022

Acquisitions Life Sciences Massachusetts Northeast

MetLife Acquires Metro Boston Life Sciences Facility for $103M

by Taylor Williams November 11, 2022

BURLINGTON, MASS. — MetLife Investment Management has acquired Burlington BioCenter, a 109,085-square-foot life sciences facility located about 15 miles northwest of Boston, for $103 million. The facility was converted to life sciences from office usage in 2019 and was fully leased at the time of sale. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, a partnership between The Gutierrez Co. and GEM Realty Capital, in the transaction. David Douvadjian Sr. and Timothy O’Donnell, also with Newmark, arranged an undisclosed amount of acquisition financing on behalf of the buyer.

November 11, 2022

Acquisitions New York Northeast Retail

Horvath & Tremblay Arranges $18.6M Sale of Shopping Center in Webster, New York

by Taylor Williams November 11, 2022

WEBSTER, N.Y. — Metro Boston-based brokerage firm Horvath & Tremblay has arranged the $18.6 million sale of Webster Plaza, a 154,991-square-foot shopping center located outside of Rochester in upstate New York. Tenants at Webster Plaza include Savers, the Town of Webster Public Library, Pet Supplies, Starbucks, Subway and FedEx. Jeremy Black, Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller, a private investor, in the transaction. The buyer was also a private investor.

November 11, 2022

Acquisitions Multifamily New York Northeast

Rosewood Realty Negotiates $4.4M Sale of Manhattan Apartment Building

by Taylor Williams November 11, 2022

NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has negotiated the $4.4 million sale of an apartment building located at 337 E. Ninth St. in Manhattan’s East Village area. The five-story building was constructed in 1900 and comprises nine residential units and two commercial spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood represented the seller, a limited liability company, in the transaction and procured the buyer, a private investor. Both parties requested anonymity.

November 11, 2022

Acquisitions Colorado Development Industrial Western

Hyde, Mortenson to Develop 40,000 SF Build-to-Suit Facility in Aurora for Xcel Energy

by Amy Works November 11, 2022

AURORA, COLO. — Hyde Development and Mortenson will partner to construct a build-to-suit industrial facility for Xcel Energy, which acquired a 10-acre site from the developers for $2.7 million. Situated within the 5 million-square-foot HighPoint Elevated industrial park, the asset will feature a 40,000-square-foot facility and five acres of yard space. Construction of the facility will begin in first-quarter 2023. The property will be the future home of an Xcel Energy service center/office and warehouse facility with outside storage. Daniel Close, Todd Witty, Tyler Carner, Jeremy Ballenger and Jessica Ostermick of CBRE represented the Hyde Development in the land sale to Xcel Energy. The CBRE team is marketing HighPoint Elevated for lease and sale opportunities with build-to-suit and speculative construction options.

November 11, 2022

Acquisitions Healthcare Nevada Retail Western

Omninet Capital Divests of 83,930 SF Retail, Medical Plaza in Las Vegas for $25M

by Amy Works November 11, 2022

LAS VEGAS — Beverly Hills, Calif.-based Omninet Capital has sold Nellis Plaza, a retail and medical center in Las Vegas, to Glen Una Management for $25 million. The transaction is the buyer’s first major retail acquisition in the Las Vegas market. Situated on 7.5 acres at 305-325 N. Nellis Blvd., Nellis Plaza features 83,930 square feet of retail and healthcare space. At the time of sale, the property was 98 percent occupied, with only 1,200 square feet vacant. Marlene Fujita Winkel, Charles Moore, Emily Brun and Alex Casingal of Cushman & Wakefield’s Private Capital Group in Las Vegas represented the seller in the deal.

November 11, 2022

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