Property Type

Colliers Negotiates $14.8M Sale of Crossroads Plaza Shopping Center in Peoria, Arizona

by Jeff Shaw March 28, 2023

PEORIA, ARIZ. — Colliers has brokered the $14.8 million sale of Crossroads Plaza, a 112,838-square-foot shopping center located in the Phoenix suburb of Peoria. The property was 91 percent leased at the time of sale to tenants including Harbor Freight, Dollar Tree, Goodwill, LA Crab Shack, Ta’ Carbon Mexican Grill, Odyssey Martial Arts and Iced Out Ice Cream Parlor. Mindy Korth, John Jackson, Caitlin Zirpolo and El Warner of Colliers represented the seller, a California-based firm. Maha Odeh Arnold of Regal Properties represented the buyer, a California-based private investor.

March 28, 2023

Acquisitions Maryland Retail Southeast

AmCap, Encore Acquire Grocery-Anchored Shopping Center in Metro D.C.

by John Nelson March 28, 2023

CALIFORNIA, MD. — A joint venture between AmCap Inc. and Encore Enterprises has acquired First Colony Center, a 98,179-square-foot shopping center in the Washington, D.C., suburb of California. The grocery-anchored center is leased to tenants including Giant, Michaels and Advance Auto Parts. Shadow anchors include Target, Lowe’s Home Improvement and BJ’s Wholesale Club. The seller and sales price of First Colony Center were not disclosed. The center represents the third joint venture acquisition between AmCap and Encore.

March 28, 2023

Acquisitions Multifamily New Mexico Seniors Housing Western

Blueprint Brokers Sale of 52-Bed Sunset Villa Care Center in Roswell, New Mexico

by Jeff Shaw March 28, 2023

ROSWELL, N.M. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Sunset Villa Care Center, a 52-bed skilled nursing facility in Roswell. The facility is located within three miles of two regional acute care hospitals. It was built in 1965, but “is very well maintained, and had strong recent and historical financial trends,” according to Blueprint. Blueprint’s marketing efforts focused on highlighting the facility’s high cash flows, operating margins, and the local submarket’s strength. At the time of marketing, the facility was running revenues of about $6 million. The buyer was a private owner-operator based in Los Angeles. The seller and price were not disclosed.

March 28, 2023

Acquisitions Multifamily Oregon Western

Marcus & Millichap Arranges $4.2M Sale of Sheridan Plaza Apartments in Albany, Oregon

by Jeff Shaw March 28, 2023

ALBANY, ORE. — Marcus & Millichap has arranged the sale of the 33-unit Sheridan Plaza apartments in Albany. A Portland-based private client group acquired the asset for $4.2 million. The community is located at 208 SE 5th Ave. and 205 SE 6th Ave. Albany is approximately halfway between Eugene and Salem. The undisclosed seller purchased the asset in 2021, at which time it made capital improvements to the property. This included new roofs and gutters, adding a garbage enclosure, resurfacing the parking lot, and new windows and sliders. The sellers were able to increase the cashflow by renovating several units and partnering with professional third-party management. The buyer plans to continue the renovation process and increase rents, according to Marcus & Millichap. The firm’s Georgie Christensen-Riley and Joshua C. Reynolds, along with the Christensen Group, represented the seller in the transaction.

March 28, 2023

Leasing Activity Mixed-Use North Carolina Office Southeast

Kingsmen Software Debuts 16,000 SF Office at Camp North End in Charlotte

by John Nelson March 28, 2023

CHARLOTTE, N.C. — Kingsmen Software, a custom software firm, has debuted its new 16,000-square-foot office at Camp North End, a mixed-use adaptive reuse development in Charlotte. The firm occupies the historic Gama Goat Building at 1801 N. Graham St., which was jointly developed by ATCO Properties & Management and Shorenstein Properties LLC. Designed by REDLINE Design Group, the new headquarters includes 14,500 square feet of space on the ground level and a 1,500-square-foot interior mezzanine. The layout incorporates team-based workstations and designated areas for flexibility and collaboration, as well as a podcast recording studio, a 12-foot video wall, “stairatorium” to the mezzanine, speakeasy pub and outdoor seating and work areas. In addition to day-to-day operations, Kingsmen will use the space to host events, conferences and industry meet-ups.

March 28, 2023

California Development Restaurant Retail Western

Eureka Opens 4,504 SF Restaurant in Aliso Viejo, California

by Jeff Shaw March 28, 2023

ALISO VIEJO, CALIF. — Eureka! has opened a 4,504-square-foot restaurant at The Commons at Aliso Viejo, a retail center in Aliso Viejo. Justin McMahon of JLL represented both the landlord, Buie Communities, and Eureka! in the lease negotiations.

March 28, 2023

Colorado Leasing Activity Office Western

Ireland Stapleton Law Firm Relocates Denver Office

by Jeff Shaw March 28, 2023

DENVER — Ireland Stapleton, a full-service Colorado commercial law firm, has relocated its Denver headquarters to 1660 Lincoln St., Suite 3000. The firm has taken over the top floor of the newly renovated, 30-story building in Denver’s Uptown neighborhood. The space has been remodeled with a layout that features a number of shared offices, hotel-style offices, and advanced technology that will increase communication and collaboration within teams and practice groups. This flexible atmosphere is designed to better accommodate both remote and in-office workers.

March 28, 2023

Development Midwest Missouri Office

Brinkmann Constructors Breaks Ground on New Headquarters for First Bank in Creve Coeur, Missouri

by Kristin Harlow March 28, 2023

CREVE COEUR, MO. — Brinkmann Constructors has broken ground on the new office headquarters for First Bank in Creve Coeur, a western suburb of St. Louis. The project consists of two office buildings totaling 169,000 square feet as well as a retail bank branch. First Bank’s original headquarters, built in 1967, was demolished in order to make space for the new headquarters. Completion is slated for spring 2024. The project team includes Lamar Johnson Collaborative, IMEG Corp., CEDC Civil Engineering Design Consultants and Cobalt Construction Consulting.

March 28, 2023

Acquisitions Kansas Midwest Missouri Retail

Hanley Investment Group Arranges Sales of 10 Valvoline-Occupied Properties in Kansas, Missouri, for $17.3M

by Kristin Harlow March 28, 2023

KANSAS AND MISSOURI — Hanley Investment Group Real Estate Advisors has arranged the sales of 10 retail properties occupied by Valvoline for a combined $17.3 million. The net-leased buildings sold to 10 separate buyers. Hanley, in association with Kansas City-based Ferguson Properties, represented the seller, an Arizona-based private investor, in nine of the 10 transactions. Hanley, in association with ParaSell Inc., represented a different seller in the 10th transaction for an asset in Kansas City. That seller was a private investor based in Kansas City.

March 28, 2023

Acquisitions Illinois Midwest Multifamily

Matthews Real Estate Brokers $6.3M Sale of Multifamily Property in Chicago

by Kristin Harlow March 28, 2023

CHICAGO — Matthews Real Estate Investment Services has brokered the sale of a 65-unit multifamily property in Chicago for $6.3 million. The building is located at 7733 S. Shore Drive. Finley Askin of Matthews represented both the buyer and seller. The buyer was an out-of-state investor looking to plant capital in metro Chicago. The seller, which acquired the property in 2021, completed renovations such as a new rubber seal coating on the roof and new windows.

March 28, 2023

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