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Acquisitions

Highland-Green-Apts-Kent-WA
AcquisitionsMultifamilyWashingtonWestern

Kidder Mathews Brokers $23.5M Sale of Highland Green Apartments in Kent, Washington

by Amy Works

KENT, WASH. — Kidder Mathews has arranged the sale of Highland Green Apartments, a garden-style multifamily complex located at 10105 SE 236th St. in Kent. A California-based company acquired the asset from a private family for $23.5 million, or nearly $245,000 per unit. Dylan Simon, Brandon Lawler and Jerrid Anderson of Kidder Mathews’ Simon and Anderson team represented the seller in the deal. Kidder Mathews also sourced the buyer and was the only brokerage firm involved in the transaction. Built in 1991, Highland Green features 96 apartments.

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12318-Ventura-Blvd-Los-Angeles-CA
AcquisitionsCaliforniaRetailWestern

Private Family Sells Sit N Sleep-Occupied Retail Building in Los Angeles’ Studio City for $6.9M

by Amy Works

LOS ANGELES — A private family has completed the disposition of a retail property in the Studio City neighborhood of Los Angeles. A private investor acquired the asset for $6.9 million. Sit N Sleep, a mattress retailer, has occupied the two-story, 15,000-square-foot building at 12318 Ventura Blvd. for 11 years. The tenant’s current lease terminates in 2023, with a six-year option to renew. Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal.

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AcquisitionsIndustrialMidwestSelf-StorageWisconsin

Marcus & Millichap Brokers Sale of Self-Storage Portfolio in Sheboygan, Wisconsin

by Kristin Harlow

SHEBOYGAN, WIS. — Marcus & Millichap has brokered the sale of the Champion Storage portfolio in Sheboygan, about 55 miles north of Milwaukee. The sales price was undisclosed. The portfolio totals five properties and 1,167 units. At the time of sale, the portfolio was 95 percent occupied. The facilities feature both climate-controlled and non-climate-controlled units as well as outdoor parking spaces and portable container units. Sean Delaney of Marcus & Millichap represented the seller, JGSS LLC, and the buyer, Rogers Equity Group IV LLC.

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711-Grand-Ave-Carlsbad-CA
AcquisitionsCaliforniaNet LeaseRestaurantRetailWestern

Progressive Real Estate Partners Negotiates $4.5M Sale of Multi-Tenant Retail Property in Carlsbad, California

by Amy Works

CARLSBAD, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail center located at 711 Grand Ave. in Carlsbad. A New York-based private investor sold the asset to a San Diego-based private investor for $4.5 million, or $976 per square foot. Built in 2019, the 4,584-square-foot property is fully leased to three tenants: Harumana Noodles + Buns, Village Optical and The Shop Salon, all of which are on triple-net leases. Mike Lin of Progressive Real Estate Partners represented the seller, while Josh Simms and Ryan King of Voit Real Estate Services represented the buyer in the transaction.

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AcquisitionsColoradoMultifamilyStudent HousingWestern

Berkadia Negotiates $24.5M Sale of University Lofts Student Housing Property in Denver

by Amy Works

DENVER — Berkadia has negotiated the sale of University Lofts, a mixed-use student housing community in Denver. Amplify Development Co. sold the property to an undisclosed buyer for $24.5 million. Located at 2372 E. Evans Ave., University Lofts features 36 units totaling 98 beds in a mix of studio, two- and four-bedroom layouts. Community amenities include a newly renovated student lobby, heated underground parking and street-level retail. Kevin Larimer, Brandon Buell, Nick Steele, Tyler King and Nate Moyer of Berkadia represented the seller in the transaction.

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AcquisitionsIndustrialOklahomaTexas

MAG Capital Partners Acquires 76,673 SF Industrial Portfolio in Bartlesville, Oklahoma

by Taylor Williams

BARTLESVILLE, OKLA. — Fort Worth-based investment firm MAG Capital Partners has acquired a 76,673-square-foot industrial portfolio in Bartlesville, a northern suburb of Tulsa. The portfolio comprises two buildings totaling 41,525 and 35,148 square feet that respectively feature 14- and 19-foot clear heights. J.C. Asensio, Briggs Goldberg and Andrew Sandquist of Newmark represented the seller, ImageFIRST Healthcare Laundry Specialists, which has entered into a sale-leaseback agreement with MAG Capital Partners.

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AcquisitionsColoradoRetailWestern

Capstone Brokers Sale of Former Sears Site in Lakewood, Colorado

by Amy Works

LAKEWOOD, COLO. — Capstone Colorado Land Team has brokered the sale of a 7.65-acre lot at 10785 Colfax Ave. in Lakewood. Austin, Texas-based Artesia Real Estate Investors acquired the land parcel for an undisclosed price. The site includes the former Sears department store and a separate outparcel building that previously operated as the Sears Automotive Center. The two unoccupied buildings offer a total of 163,957 square feet of commercial space. Travis Hodge and Anthony Bobay of Capstone represented the undisclosed seller, while Artesia Real Estate Investors was self-represented in the transaction.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 10,000 SF Retail Property in Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of a 10,000-square-foot retail property located at 6300 North Main St. in Houston’s Heights neighborhood. According to LoopNet Inc., the property was built in 2015. Justin Miller of Marcus & Millichap represented the seller, a locally based developer, in the transaction and procured a 1031 exchange investor as the buyer. Both parties requested anonymity.

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 8,953 SF Retail Strip Center in Flower Mound, Texas

by Taylor Williams

FLOWER MOUND, TEXAS — Locally based retail brokerage firm STRIVE has arranged the sale of an 8,953-square-foot retail strip center in Flower Mound, a northern suburb of Fort Worth. The property sits at the front of the 158-acre Riverwalk mixed-use development and was fully leased to three tenants at the time of sale. Hudson Lambert of STRIVE represented the seller and procured the buyer, both of which were locally based entities that requested anonymity.

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AcquisitionsIllinoisMidwestMultifamily

Monarch Realty Partners Brokers Three Multifamily Sales Totaling $3.9M in Chicago

by Kristin Harlow

CHICAGO — Monarch Realty Partners has brokered the sales of three multifamily properties totaling 88 units on Chicago’s South Side for $3.9 million. The buildings are located at 8003 S. Ingleside Ave., 7503 S. Yates Blvd. and 7900 S. Essex Ave. Robert Berman and Rudy Hancock of Monarch brokered the transaction on behalf of the separate sellers. Buyer and seller information was not provided.

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