Acquisitions

JLL Negotiates Sale of 568,632 SF Distribution Center in Roanoke, Texas

by Taylor Williams October 17, 2022

ROANOKE, TEXAS — JLL has negotiated the sale of HWY 114 Distribution Center, a 568,632-square-foot industrial facility located in the North Texas city of Roanoke. The 68.6-acre site is located two miles east of the intersection of I-35 and State Highway 114. The cross-dock facility was completed in 2021 and features 36-foot clear heights, 119 dock doors and 229 parking spaces. Los Angeles-based Cohen Asset Management purchased the property from Provident Realty Advisors for an undisclosed price. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Matthew Barge of JLL brokered the deal. At the time of sale, HWY 114 Distribution Center was fully leased to UNIS, a California-based third-party logistics provider.

October 17, 2022

Acquisitions Multifamily Texas

ClearWorth Capital Acquires 202-Unit Multifamily Property in Richardson, Texas

by Taylor Williams October 17, 2022

RICHARDSON, TEXAS — Locally based investment firm ClearWorth Capital has acquired Belle Grove at Custer, a 202-unit multifamily property located in the northeastern Dallas suburb of Richardson. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a fitness center, business center, playground, tennis court, walking/biking trails and onsite laundry facilities. ClearWorth Capital purchased the asset from RealSource for an undisclosed price with plans to implement a value-add program. Chris Deuillet, William Hubbard and Jaxx Davis of CBRE brokered the deal. Belle Grove at Custer was 94 percent occupied at the time of sale.

October 17, 2022

Acquisitions Office Texas

Avison Young Arranges Sale of 48,304 SF Office Building in McKinney, Texas

by Taylor Williams October 17, 2022

MCKINNEY, TEXAS — Avison Young has arranged the sale of a 48,304-square-foot office building located in the northern Dallas suburb of McKinney. The property was built on 2.7 acres in 2006 and includes 152 surface parking spaces. Susan Gwin Burks, Bruce Butler, John Bowles and Philip Boren of Avison Young represented the seller, Dallas-based PAR Capital, in the transaction. Bill Cox of Carey Cox Co. represented the undisclosed, locally based buyer. The building was roughly 95 percent leased at the time of sale.

October 17, 2022

Acquisitions Georgia Retail Southeast

Big V, Equity Street Capital Acquire 193,039 SF Retail Center in Brunswick, Georgia

by John Nelson October 17, 2022

BRUNSWICK, GA. — Big V Property Group, in partnership with Equity Street Capital, has acquired Glynn Isles, a 193,039-square-foot retail center located in the coastal Georgia city of Brunswick. Shadow-anchored by Target and Lowe’s Home Improvement, the center has averaged 98 percent occupancy. Tenants include Dick’s Sporting Goods, PetSmart, Ross Dress for Less, Michaels, Ulta Beauty and Old Navy. The seller and sales price were not disclosed.

October 17, 2022

Acquisitions Northeast Pennsylvania Retail

CBRE Brokers $7.4M Sale of Veterinary Clinic in Norristown, Pennsylvania

by Taylor Williams October 17, 2022

NORRISTOWN, PA. — CBRE has brokered the $7.4 million sale of a 25,150-square-foot veterinary clinic in Norristown, a northwestern suburb of Philadelphia. Metropolitan Veterinary Associates occupies the facility, which was originally built in 1987 and renovated in 2019, on a triple-net basis. Michael Shover, Matthew Gorman, Thomas Finnegan and Rob Thompson of CBRE represented the seller, an entity doing business as LMP Van Buren LLC, in the transaction. The team also procured the buyer, a Nashville-based limited liability company.

October 17, 2022

Acquisitions Multifamily New York Northeast

Ariel Property Advisors Negotiates $5.5M Sale of Brooklyn Apartment Building

by Taylor Williams October 17, 2022

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.5 million sale of an eight-unit apartment building located in the Park Slope area of Brooklyn. According to StreetEasy.com, the four-story building was originally built in 1920. Benjamin Vago, Stephen Vorvolakos and Sean Kelly of Ariel Property Advisors brokered the deal. Both the buyer and seller requested anonymity. The deal traded at a cap rate of 4.8 percent.

October 17, 2022

Acquisitions Midwest Missouri Retail

First National Realty Partners Acquires 157,779 SF Shopping Center in O’Fallon, Missouri

by Kristin Harlow October 17, 2022

O’FALLON, MO. — First National Realty Partners has acquired River City Marketplace in O’Fallon, about 37 miles northwest of St. Louis, for $22.5 million. A 31,000-square-foot Fresh Thyme Market anchors the 157,779-square-foot shopping center, which was built in 2004 and is currently 93 percent leased. Fresh Thyme has operated at the property since 2015. Additional tenants include Total Wine & More, Ross Dress for Less, Five Below, Kirkland’s and Kay Jewelers. There is 10,000 square feet of available space for lease. Evan Halkias, David Matheis and Link Dierks of Cushman & Wakefield represented the seller, PEBB Enterprises, which acquired the center in 2015 when it was 55 percent occupied.

October 17, 2022

Acquisitions Illinois Midwest Multifamily

Greenstone Partners Brokers $2M Sale of Apartment Building in Chicago’s Wicker Park

by Kristin Harlow October 17, 2022

CHICAGO — Greenstone Partners has brokered the sale of a 6,600-square-foot apartment building at 2049 W. Division St. in Chicago’s Wicker Park neighborhood for $2 million. The property features four recently renovated units as well as retail space. Brewster Hague and Danny Spitz of Greenstone represented the seller, a Chicago-based partnership, and procured the buyer, a California-based hospitality group.

October 17, 2022

Acquisitions Arizona Multifamily Western

Odyssey Properties Acquires Nola on 50th Multifamily Community in Phoenix for $37.2M

by Amy Works October 17, 2022

PHOENIX — Los Angeles-based Odyssey Properties Group has purchased Nola on 50th, an apartment property in the Arcadia neighborhood of Phoenix, from an undisclosed seller for $37.2 million. Odyssey will rebrand the 155-unit community as Parq on 50th. Constructed in 1979, Parq on 50th features 12 buildings on 5.6 acres of land and offers a mix of studios, one- and two-bedroom units. Current amenities include a pool and spa, two laundry facilities, a fitness center, grilling station and dog park. The asset is located at 5008 E. Thomas Road.

October 17, 2022

Acquisitions Multifamily Nevada Western

Newmark Brokers Sale of 237-Unit Quinn Apartment Homes in Las Vegas

by Amy Works October 17, 2022

LAS VEGAS — Newmark has negotiated the sale of The Quinn Apartment Homes, a garden-style multifamily property located at 5500 S. Mountain Vista St. in Las Vegas. Haven Realty Capital sold the asset to a Los Angeles-based real estate firm for an undisclosed price. Angela Bates, Curt Allsop, Doug Schuster and Vittal Ram of Newmark represented the seller in the transaction. Built in 1991 on 10.3 acres, the two-story property features 237 units in a mix of four floor plans ranging from 740-square-foot one-bedroom/one-bath layouts to 1,056-square-foot two-bedroom/two-bath units.

October 17, 2022

Newer Posts

Older Posts