Acquisitions

Faris Lee Brokers $11.3M Sale of Sprouts-Occupied Retail Property in Folsom, California

by Amy Works November 18, 2022

FOLSOM, CALIF. — Faris Lee Investments has arranged the sale of a retail building located at 905 E. Bidwell St. at The Bidwell Center in Folsom. VR Folsom, an Orange County-based private family office, sold the asset to a La Jolla-based buyer for $11.3 million. Jeff Conover, Shaun Riley and Scott DeYoung of Faris Lee represented the seller, while Infinity Investment Properties represented the buyer in the deal. Situated on 2.7 acres, Sprouts Farmers Market occupies the single-tenant property. The tenant has a 15-year, triple-net lease with 10 years remaining on the term. The grocery store asset is located adjacent to Target, Lowe’s Home Improvement Warehouse and Trader Joe’s.

November 18, 2022

Acquisitions Industrial Self-Storage Texas

JLL Negotiates Sale of 1,743-Unit Self-Storage Portfolio in North Texas

by Taylor Williams November 18, 2022

CEDAR HILL, COLLEYVILLE AND DENTON, TEXAS — JLL has negotiated the sale of a portfolio of three self-storage facilities totaling 1,743 units that are located in the North Texas cities of Cedar Hill, Colleyville and Denton. The portfolio totals 201,850 net rentable square feet. Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL represented the seller, a joint venture between Chicago-based investment firm Harrison Street and Advantage Self Storage, in the transaction. The team also procured the buyer, Texas-based investment firm HPI.

November 18, 2022

Acquisitions Colorado Restaurant Retail Western

Miller United Real Estate Sells 8,511 SF Shops on Montview in Denver’s Central Park District

by Amy Works November 18, 2022

DENVER — Miller United Real Estate has completed the disposition of The Shops on Montview, a retail center located at 8801 E. Montview Blvd. in Denver’s Central Park neighborhood. Terms of the transaction were not released. Built in 2020, The Shops on Montview features 8,511 square feet of retail space. At the time of sale, the property was fully occupied by four tenants, I Heart Mac & Cheese, Pizza Hut, Smile Studio Dental and Starbucks Coffee. Jason Schmidt of JLL Retail Capital Markets Investment Sales and Advisory led the team that represented the seller in the transaction.

November 18, 2022

Acquisitions Colorado Retail Western

NAI Shames Makovsky Negotiates $4.2M Sale of Retail Building in Denver

by Amy Works November 18, 2022

DENVER, COLO. — NAI Shames Makovsky has brokered the sale of a retail property located in Denver. Benjamin Weinstein acquired the asset from MDK Larimer for $4.2 million. Located at 2124-2134 Larimer St., the property features 7,200 square feet of retail space. Todd Snyder of NAI Shames Makovsky represented the seller in transaction.

November 18, 2022

Acquisitions Loans Multifamily Texas

Buchanan Street Partners Buys 354-Unit Apartment Community in McKinney, Texas

by Taylor Williams November 18, 2022

MCKINNEY, TEXAS — Southern California-based investment firm Buchanan Street Partners has purchased Jefferson Terrace, a 354-unit apartment community located north of Dallas in McKinney. The unit mix comprises 209 one-bedroom residences, 115 two-bedroom apartments and 30 three-bedroom units. Amenities include a pool, fitness center with yoga and spin studios, clubhouse and resident lounge, game room, dog park, putting green and outdoor grilling and dining areas. Locally based firm JPI developed and sold Jefferson Terrace, which was 94 percent occupied at the time of sale. Tom Kenny of Bellwether Enterprise Real Estate Capital arranged a $56 million acquisition loan through an undisclosed life insurance company on behalf of Buchanan Street Partners.

November 18, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 236-Unit Self-Storage Facility in Northwest Houston

by Taylor Williams November 18, 2022

HOUSTON — Marcus & Millichap has arranged the sale of Easy Self Storage, a 236-unit facility located along State Highway 249 in northwest Houston. The five-building property was built in 1984 and spans 29,716 net rentable square feet across 172 non-climate-controlled units and 64 climate-controlled units. Dave Knobler of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company, in the transaction. Both parties requested anonymity.

November 18, 2022

Acquisitions Multifamily North Carolina Southeast

JLL Negotiates $91M Sale of Apartment Community in Charlotte’s NoDa District

by John Nelson November 18, 2022

CHARLOTTE, N.C. — JLL Capital Markets has brokered the sale of Abberly NoDa Vista, a 261-unit apartment community located in the NoDa neighborhood of Charlotte. Matthew Lawton, John Gavigan, John Mikels and Nick Brown of JLL represented the buyer, HHHunt, in the $91 million transaction. Travis Anderson and Warren Johnson of JLL aarranged a $60.3 million, floating-rate acquisition loan on behalf of the buyer. Constructed in 2019, Abberly NoDa Vista features apartments in studio, one-, two- and three-bedroom layouts with an average size of 892 square feet. Amenities include a barbecue grill and picnic area, a community gas grill, electric vehicle charging stations, private balconies and patios, a resort-style pool, sun deck and a gym.

November 18, 2022

Acquisitions Multifamily North Carolina Southeast

Northmarq Brokers Sale of 352-Unit Apartment Community in Charlotte

by John Nelson November 18, 2022

CHARLOTTE, N.C. — Northmarq has arranged the sale of Tapestry University City, a 352-unit multifamily community located on 17 acres at 5340 Periwinkle Hill Ave. in Charlotte. The community features apartment homes in one-, two- and three-bedroom layouts. Amenities include a dog park, pet washing station, pool deck, clubroom, cyber café, fitness center, electric vehicle charging stations, a yoga and spin studio, grilling station and bike racks. Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn of Northmarq represented the sellers, Arlington Properties and Glenmont Capital Management, in the transaction. Faron Thompson, David Vinson and Grant Harris of Northmarq originated a fixed-rate Fannie Mae acquisition loan. The buyer, sales price and loan amount were not disclosed.

November 18, 2022

Acquisitions North Carolina Office Southeast

CBRE Arranges Sale of 176,601 SF Northchase at Midtown Office Park in Raleigh

by John Nelson November 18, 2022

RALEIGH, N.C. — An entity doing business as JPB Raleigh Holdings LLC has sold Northchase at Midtown, an office park comprising two buildings totaling 176,601 square feet at 6501 and 6601 Six Forks Road in Raleigh. Ben Kilgore, Chandler Hawkins and Leslie Holmes of CBRE, along with with NAI Tri Properties’ Jimmy Barnes, represented the seller in the transaction. Rachael Gaston and Sesha Debnam of Debnam Commercial Real Estate represented the buyer, local investor Dean Debnam. The sales price was not disclosed. Fully renovated in 2014 and 2015, Northchase at Midtown was 95 percent leased at the time of sale to companies including Merz North America, Globant, Redline and HITT Construction.

November 18, 2022

Acquisitions Northeast Pennsylvania Retail

Colliers Arranges Sale of 41,311 SF Ferrari Philadelphia Car Dealership

by Taylor Williams November 18, 2022

BRYN MAWR, PA. — Colliers has arranged the sale of Ferrari Philadelphia, a 41,311-square-foot car dealership located on the city’s northwestern outskirts in Bryn Mawr. The property comprises a 36,314-square-foot sales and service building and a 4,997-square-foot repair building across the street. An affiliate of Piazza Auto Group purchased Ferrari Philadelphia from an affiliate of RDS Automotive for an undisclosed price. Rich Weitzman of Colliers brokered the deal.

November 18, 2022

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