Acquisitions

SRS Real Estate Partners Negotiates $6.2M Sale of Two Retail Properties in Chino, California

by Amy Works October 24, 2022

CHINO, CALIF. — SRS Real Estate Partners has arranged the sales of two single-tenant retail buildings that are outparcels to Country Fair Shopping Center, a 168,000-square-foot shopping center in Chino. Separate California-based private investors acquired the assets from a Southern California-based private investor for a total of $6.2 million. Quick-service-restaurants Wienerschnitzel and Carl’s Jr. occupy the two buildings. Built in 1976 at 11901 Central Ave., the 1,600-square-foot, Wienerschnitzel-occupied building sold for $2.4 million. The tenant has approximately seven years remaining on its corporate lease. Constructed in 2016 at 12005 Central Ave., the 3,796-square-foot, Carl’s Jr.-occupied property sold for $3.7 million. The tenant has about 12 years remaining on its corporate lease. Matthew Mousavi and Patrick Luther of SRS National Net Lease Group represented the seller in the transactions.

October 24, 2022

Acquisitions Arizona Retail Western

Cushman & Wakefield|PICOR Brokers Sale of 24,000 SF Retail Building in Sierra Vista, Arizona

by Amy Works October 24, 2022

SIERRA VISTA, ARIZ. — Cushman & Wakefield|PICOR has brokered the sale of a retail property in Sierra Vista. Orion Sierra Vista AZ LLC sold the asset to 2030 East LLC for $2.3 million. Located at 354 S. Highway 92, the property features 24,000 square feet of retail space. Jose Dabdoub and Ryan McGregor of Cushman & Wakefield|PICOR represented the seller, while Robert Fischrup and Eric Lamb of Vast Commercial Real Estate Solutions LLC represented the buyer in the deal.

October 24, 2022

Acquisitions Florida Southeast Student Housing

Jacobson Co. Acquires 618-Bed Student Housing Property in Gainesville, Florida

by John Nelson October 21, 2022

GAINESVILLE, FLA. — The Jacobson Co. has completed the acquisition of Liv+ Gainesville, a 618-bed student housing community located near the University of Florida in Gainesville. The 235-unit, four-story property features one-, two-, three-, four-, five- and six-bedroom layouts and amenities such as covered parking, a fitness center, pool, dog park and pet spa, 24-hour market, resident lounge and study lounges. Located at 1900 S.W. 13th St., the property is walkable to the university. The seller and sales price were not disclosed.

October 21, 2022

Acquisitions Florida Self-Storage Southeast

Marcus & Millichap Executes Sale of 89,250 SF Self-Storage Facility in Melbourne, Florida

by John Nelson October 21, 2022

MELBOURNE, FLA. — Marcus & Millichap has arranged the sale of Melbourne, Florida Storage Opportunity, an 89,250-square-foot self-storage facility located in Melbourne, roughly 70 miles southeast of Orlando on Florida’s Space Coast. The property, which features 66,547 square feet of rentable space and 662 climate-controlled units, was acquired by an undisclosed limited liability company. Meir Perlmuter, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, also an undisclosed limited liability company, and secured and represented the buyer in the transaction. Ryan Nee, the firm’s Florida broker of record, assisted in closing the sale. The sales price was not disclosed.

October 21, 2022

Acquisitions Mixed-Use Southeast Virginia

Feldman Ruel Arranges $5M Sale of Mixed-Use Property in Metro D.C.

by John Nelson October 21, 2022

ALEXANDRIA, VA. — Feldman Ruel Urban Property Advisors has facilitated the sale of 901-905 King Street, a four-level mixed-use property located in Alexandria’s Old Town district. The property, which is occupied by White House Black Market at the street level, sold for $5 million. Tanner Scales, Josh Feldman and Ian Ruel of Feldman Ruel marketed 901-905 King Street on behalf of the seller, an entity doing business as A & H LLC. Windmill Hill Homes acquired the property and has plans to convert its vacant office space into 14 residential units. Retail space at the building will remain as-is.

October 21, 2022

Acquisitions Multifamily Texas

Odyssey Properties Buys Three Metro Dallas Multifamily Communities Totaling 578 Units

by Taylor Williams October 21, 2022

ARLINGTON AND GRAND PRAIRIE, TEXAS — Los Angeles-based investment firm Odyssey Properties Group has purchased three metro Dallas multifamily properties totaling 578 units. Huntington Meadows and The Dalton are located adjacent to one another in Arlington, were built in 1984 and respectively total 250 and 68 units in one- and two-bedroom formats. Combined amenities include a fitness center, three pools, outdoor grilling and dining areas, a tennis court, pet park and a business center. The Belmont in Grand Prairie totals 260 units, also with one- and two-bedroom floor plans, and was built in 1983. The new ownership plans to implement a value-add program across all three properties.

October 21, 2022

Acquisitions Industrial Texas

Titan Development Sells 294,297 SF Industrial Facility in Metro Austin

by Taylor Williams October 21, 2022

GEORGETOWN, TEXAS — Titan Development has sold Gateway 35 Commerce Center Building 1, a 294,297-square-foot industrial facility located in the northern Austin suburb of Georgetown. Built on 21 acres in 2022, the cross-dock building was fully leased to California-based electronics manufacturer CelLink Corp. at the time of sale. Building features include 36-foot clear heights, 185-foot truck court depths, 220 car parking spaces and 94 trailer parking stalls. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Megan Babovec of JLL represented Titan Development in the transaction. The buyer and sales price were not disclosed.

October 21, 2022

Acquisitions Multifamily Texas

Magma Equities Acquires 240-Unit Apartment Complex in Roanoke, Texas

by Taylor Williams October 21, 2022

ROANOKE, TEXAS — Southern California-based investment firm Magma Equities has acquired Lost Spurs Ranch, a 240-unit apartment complex located north of Fort Worth in Roanoke. Built in 2001, the property comprises 12 three-story buildings that house one-, two- and three-bedroom units on a 13.5-acre site. The amenity package comprises a pool, fitness center, basketball court, playground and a media room. Magma Equities, which acquired the asset in a joint venture with Walker & Dunlop Investment Partners as part of a larger off-market portfolio deal, plans to upgrade the unit interiors and building exteriors. Moody National Cos. sold the property for an unspecified price. Lost Spurs Ranch, which was acquired in conjunction with the 580-unit Village at Bellaire in Houston, was 99 percent occupied at the time of sale.

October 21, 2022

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $18.3M Sale of Apartment Complex in Vineland, New Jersey

by Taylor Williams October 21, 2022

VINELAND, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $18.3 million sale of Spring Gardens, a 130-unit apartment complex located in the Northern New Jersey community of Vineland. The property was built on 13.4 acres in 1974 and houses 64 one-bedroom units and 66 two-bedroom residences across 16 buildings. Joni Sweetwood of Kislak represented the buyer and seller, both of which requested anonymity, in the transaction.

October 21, 2022

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Arranges $7.2M Sale of Industrial Building in Denville, New Jersey

by Taylor Williams October 21, 2022

DENVILLE, N.J. — Cushman & Wakefield has arranged the $7.2 million sale of a 42,000-square-foot industrial building located in the Northern New Jersey community of Denville. The property sits on 3.4 acres, features a clear height of 18 feet and is currently leased to three tenants. Andrew Schwartz, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

October 21, 2022

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