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4400-Harlan-Ct-Wheat-Ridge-CO
AcquisitionsColoradoRestaurantRetailWestern

SRS Real Estate Arranges $8.8M Sale of 7-Eleven-Occupied Property in Wheat Ridge, Colorado

by Amy Works

WHEAT RIDGE, COLO. — SRS Real Estate Partners has negotiated the sale of a newly developed retail property at 4400 Harlan Court in Wheat Ridge. Cadence Capital sold the asset to a California-based family office for $8.8 million. 7-Eleven occupies the 4,650-square-foot property, which is situated on 1.3 acres. The asset also includes Laredo Taco, 7-Eleven’s new quick-service restaurant concept. The building is an outparcel to Lakeside Center, a 728,000-square-foot retail power center anchored by Walmart Supercenter, Petco, Planet Fitness and Goodwill. Ryan Tomkins of SRS Capital Markets represented the seller in the transaction.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 309-Unit Self-Storage Facility in Rockport, Texas

by Taylor Williams

ROCKPORT, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Stowaway Storage, a 309-unit facility in Rockport, located about 35 miles northeast of Corpus Christi in South Texas. The facility spans 34,626 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Texas-based investment firm Curren Cos. Inc., in the transaction. The team also procured the undisclosed, Texas-based private buyer.

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IndustrialLeasing ActivityNew JerseyNortheast

Colliers Negotiates 431,720 SF Industrial Lease Extension in Southern New Jersey

by Taylor Williams

FLORENCE TOWNSHIP, N.J. — Colliers has negotiated a 431,720-square-foot industrial lease extension in the Southern New Jersey community of Florence Township. The cross-dock, single-tenant building at 1500 John Galt Way is located within The Haines Center Industrial Park and features clear heights of 30 to 37 feet. Marc Isdaner and Alex Stringfellow of Colliers represented the tenant, paper products provider Sylvamo North America, in the lease negotiations. Regional developer Whitesell Construction Co. owns the property.

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LoansMultifamilyTexas

Colliers Mortgage Provides Agency Acquisition Loan for 100-Unit Apartment Complex in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Colliers Mortgage has provided a Fannie Mae loan of an undisclosed amount for the acquisition of Northwood Apartment Homes, a 100-unit multifamily complex in Fort Worth. Built in 1972, the garden-style property consists of six two-story buildings and one clubhouse, as well as onsite laundry facilities and outdoor grilling and dining stations. Fritz Waldvogel of Colliers Mortgage originated the five-year loan through a partnership with Old Capital Lending. The borrower was not disclosed.

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IndustrialLeasing ActivityMassachusettsNortheast

Yankee Candle Co. Opens 360,000 SF Warehouse, Distribution Center in Hatfield, Massachusetts

by Taylor Williams

HATFIELD, MASS. — The Yankee Candle Co. has opened a 360,000-square-foot warehouse and distribution center in the Central Massachusetts city of Hatfield. The company will occupy the entirety of the building at 142 Elm St., which was constructed in 1968 and totals 359,938 square feet, according to LoopNet Inc. Joe Garvey of Cushman & Wakefield and Mitch Bolotin of Colebrook Realty Services represented the tenant in the lease negotiations. Tyler McGrail, J.R. McDonald, Eric Jeremiah and Margaret Fee of Newmark represented the landlord, Boston-based FoxRock Properties.

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LoansMichiganMidwestMultifamily

Bernard Financial Group Arranges $8.5M Loan for Refinancing of Multifamily Asset in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Bernard Financial Group (BFG) has arranged an $8.5 million loan for the refinancing of a 334-unit multifamily property in Southfield. Dennis Bernard and David Ruff of BFG arranged the loan with Securian Life Insurance Co. Pine Aire Investors LLC was the borrower.

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IndustrialLee & AssociatesTexas

Used Bikes Direct Signs 22,630 SF Industrial Lease in Houston

by Taylor Williams

HOUSTON — Used Bikes Direct, which sells pre-owned motorcycles, has signed a 22,630-square-foot industrial lease in Houston. The building at 16445 North Freeway was constructed on 1.4 acres in 1982 and formerly served as a furniture store and warehouse. Judy Beebe and Chris Klein of Colliers represented the tenant in the lease negotiations. Zane Carmen and Clay Pritchett of Partners Real Estate represented the landlord, an entity doing business as Bet Ezra LLC.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Negotiates $2.5M Sale of Two Retail Centers in Normal, Illinois

by Kristin Harlow

NORMAL, ILL. — Marcus & Millichap has negotiated the $2.5 million sale of two retail centers located in the college town of Normal. The adjacent properties are located on Northbrook Drive near Illinois State University. Totaling approximately 17,500 square feet, the centers are leased to mostly local tenants such as a marijuana dispensary, coffee shop, pizza parlor, regional medical provider and laundromat. Eric Bell, Jordan Callaway and Mitchell Kiven of Marcus & Millichap represented the seller, a real estate developer. Buyer information was not provided.

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AcquisitionsIllinoisMidwestRetail

AXIS 360, Lee & Associates Arrange $2.3M Sale of Former Gold’s Gym Property in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists and Lee & Associates have arranged the $2.3 million sale of a 45,749-square-foot building formerly occupied by Gold’s Gym in Bloomington. The two-story property features areas for workout equipment, locker rooms, offices, physical therapy areas and a childcare area. Greg Yount of AXIS 360 and Rick Scardino of Lee & Associates represented the seller, Citizen’s First Bank. Sherye Przybyla of Berkshire Hathaway represented the undisclosed buyer, which plans a remodel of the building in the coming months.

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AcquisitionsIllinoisMidwestRetail

Quantum Brokers $2.1M Sale of Two-Tenant Retail Property in Oak Lawn, Illinois

by Kristin Harlow

OAK LAWN, ILL. — Quantum Real Estate Advisors Inc. has brokered the $2.1 million sale of a two-tenant retail property in the Chicago suburb of Oak Lawn. The center recently underwent a full renovation, including new pylon signage. At the time of sale, the property was fully leased to Chicago Title and Hassleless Mattress. Chad Firsel and Brett Berlin of Quantum represented the seller, a joint venture between affiliates of Core Acquisitions and T2 Capital Management. The buyer was a California-based 1031 exchange investor.

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