Acquisitions

La Caze Development Sells Lake Forest Marketplace in California for $14.2M

by Jeff Shaw March 16, 2023

LAKE FOREST, CALIF. — La Caze Development has sold Lake Forest Marketplace, a 111,212-square-foot shopping center located in Lake Forest, for $14.2 million. Situated on 10 acres, the property was fully occupied at the time of sale. Tenants include 99 Cents Only, Guitar Center, Island Pacific, Harbor Freight Tools, Bank of America, Del Taco and Dunkin. John Redfield of SRS Real Estate Partners’ Investment Property Group arranged the transaction on behalf of the seller. Jon Davis of SVN represented the buyer, a private investor.

March 16, 2023

Acquisitions California Company News Western

CBRE Acquires Two California Branches of Integra Realty Resources

by Jeff Shaw March 16, 2023

ORANGE COUNTY, CALIF. — CBRE has acquired the Los Angeles and Orange County affiliates of Integra Realty Resources (IRR). IRR is a network of commercial real estate valuation, counseling and advisory firms in the United States. IRR-Los Angeles/Orange County specializes in appraisals for right-of-way (ROW) properties, in addition to providing valuation and advisory services across a broad spectrum of property types. The firm has completed about 500 assignments annually for more than 100 regional and national clients. The acquisition complements CBRE’s national Valuation & Advisory Services’ ROW practice, the largest of its kind in the U.S., and expands the firm’s valuation team in Southern California. With offices in Los Angeles and Irvine, the new teams will integrate with CBRE’s existing team. John Ellis and Beth Finestone, principals of IRR-Los Angeles/Orange County, will continue to run the incoming team’s operations in Southern California as executive vice presidents for CBRE.

March 16, 2023

Acquisitions New York Northeast Retail

CBRE Brokers $112M Sale of Shopping Center in White Plains, New York

by Taylor Williams March 16, 2023

WHITE PLAINS, N.Y. — CBRE has brokered the sale of The Source, a 262,000-square-foot shopping center located north of New York City in White Plains. According to The Wall Street Journal, the sales price was $112 million, and the seller was UBS Realty Investors. Whole Foods Market anchors the center, which is situated adjacent to Westchester Mall. Other tenants include Dick’s Sporting Goods, Raymour & Flanigan, The Cheesecake Factory and the New York State Department of Motor Vehicles. Jeffrey Dunne, David Gavin, Steve Bardsley and Travis Langer of CBRE represented the seller in the transaction. The buyer was Houston-based Hines. The Source was 99 percent leased at the time of sale.

March 16, 2023

Acquisitions Connecticut Northeast Retail

Cornerstone Properties Sells Shopping Center in Ellington, Connecticut, for $27.7M

by Taylor Williams March 16, 2023

ELLINGTON, CONN. — An affiliate of Connecticut-based Cornerstone Properties has sold Valley Farms Shopping Center, a 99,936-square-foot retail property in Ellington, a northeastern suburb of Hartford, for $27.7 million. Big Y World Class Market anchors the center, which was originally built in 2007 on a 30-acre site that has land for potential expansion. Other tenants include McDonald’s and Liquor World. Tom Boyle of locally based brokerage firm Chozick Realty represented the seller and procured the undisclosed buyer in the transaction.

March 16, 2023

Acquisitions Development Multifamily New Jersey Northeast

Kislak Negotiates $9.9M Sale of Multifamily Development Site in Bayonne, New Jersey

by Taylor Williams March 16, 2023

BAYONNE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $9.9 million sale of a development site in the Northern New Jersey community of Bayonne that is approved for multifamily development. The site is an assemblage of six lots, and the undisclosed buyer plans to construct a six-story, 197-unit complex. Units will come in studio, one- and two-bedroom floor plans, and the property will feature 4,300 square feet of amenity space and parking for 245 cars. Davis Briones of Kislak represented the seller, an affiliate of RAM Development, in the off-market transaction. Briones also procured the buyer.

March 16, 2023

Acquisitions Development Massachusetts Multifamily Northeast Seniors Housing

Habitech Acquisitions to Develop 141-Unit Active Adult Community in Stow, Massachusetts

by Taylor Williams March 16, 2023

STOW, MASS. — Massachusetts-based developer Habitech Acquisitions has acquired 37.3 acres in Stow, about 30 miles west of Boston, with plans to construct a 141-unit active adult community. Known as The Cottages at Wandering Pond, the project will feature a recreation area with walking trails, as well as a clubhouse, pool, activity lawn and a pickleball court. Jake Parsons of SVN | Parsons Commercial Group | Boston represented the seller, EFMC Associates, in the land deal and procured Habitech Acquisitions as the buyer. A construction timeline was not disclosed.

March 16, 2023

Acquisitions Multifamily Texas

Newmark Brokers Sale of 368-Unit Henley Riverside Apartments in East Austin

by Taylor Williams March 15, 2023

AUSTIN, TEXAS — Newmark has brokered the sale of Henley Riverside, a 368-unit apartment community in East Austin. The mid-rise property offers one-, two- and three-bedroom residences, with private patios and balconies available in select units. Amenities include a pool, fitness center and an outdoor kitchen and gaming area. Patton Jones and Andrew Dickson of Newmark represented the seller, an affiliate of Treeline Real Estate Partners, in the transaction to an undisclosed buyer. Henley Riverside was 92 percent occupied at the time of sale.

March 15, 2023

Acquisitions Retail Texas

Partners Real Estate Negotiates Sale of 10,200 SF Retail Property in Stephenville, Texas

by Taylor Williams March 15, 2023

STEPHENVILLE, TEXAS — Partners Real Estate has negotiated the sale of a 10,200-square-foot retail property in Stephenville, about 70 miles southwest of Fort Worth. The property was fully leased to Family Dollar at the time of sale. Landan Dory of Partners represented the buyer, private investor Perry Lewis, in the transaction. Craig Fuller of Marcus & Millichap represented the undisclosed seller.

March 15, 2023

Acquisitions Industrial New York Northeast

JLL Negotiates $23M Sale of Queens Industrial Property

by Taylor Williams March 15, 2023

NEW YORK CITY — JLL has negotiated the $23 million sale of an industrial property in the Long Island City area of Queens. The site currently houses a 55,000-square-foot warehouse and is zoned for an additional 320,000 square feet of new development. The existing facility features a clear height of 17 feet, three overhead drive-in doors and private office space. Michael Mazzara, Ethan Stanton, Winfield Clifford, Stephen Palmese and Brendan Maddigan of JLL represented the seller, New York City-based Titan Contracting Corp., in the transaction. The buyer was San Francisco-based Terreno Realty Corp. A construction timeline for the next phase of development was not disclosed.

March 15, 2023

Acquisitions Industrial Northeast Pennsylvania Self-Storage

Marcus & Millichap Brokers Sale of 266-Unit Self-Storage Portfolio in Jonestown, Pennsylvania

by Taylor Williams March 15, 2023

JONESTOWN, PA. — Marcus & Millichap has brokered the sale of a portfolio of two self-storage facilities totaling 266 units in Jonestown, about 23 miles northeast of Harrisburg. The facilities, both of which were recently renovated, offer a total of 42,380 net rentable square feet of non-climate-controlled space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Sean Beuche of Marcus & Millichap assisted in closing the deal as the broker of record. Additional terms of sale were not disclosed.

March 15, 2023

Newer Posts

Older Posts