Property Type

Avanti Residential Sells Villas at Mountain Vista Ranch Apartments in Surprise, Arizona for $85M

by Amy Works August 22, 2022

SURPRISE, ARIZ. — Avanti Residential has completed the disposition of Villas at Mountain Vista Ranch, an apartment property located at 16630 N. Reems Road in Surprise. An undisclosed buyer acquired the asset for $85 million. Built in 2003, Villas at Mountain Vista Ranch features 256 apartments in a mix of one-, two- and three-bedroom floor plans with an average unit size of 1,008 square feet. Apartments include in-unit washers/dryers. Onsite amenities include a pool with lounge seating and a fitness center. Brad Goff, Brett Polachek and Chris Canter of Newmark represented the seller in the transaction. Newmark also arranged financing for the acquisition.

August 22, 2022

Acquisitions California Multifamily Western

Berkadia Arranges $22.6M Sale of YOLO East Multifamily Property in Thousand Oaks, California

by Amy Works August 22, 2022

THOUSAND OAKS, CALIF. — Berkadia has brokered the sale of YOLO East, an apartment community in Thousand Oaks. California-based NUWI Capital sold the property to an undisclosed buyer for $22.6 million, or $502,222 per unit. Located at 1801 Los Feliz Drive, YOLO East features 45 apartments in a mix of one- and two-bedroom layouts, ranging in size from 748 square feet to 1,219 square feet. Units offer high ceilings, great rooms, gourmet kitchens with quartz countertops, stainless steel appliances, in-unit washers/dryers, and balconies or patios. Community amenities include a courtyard gathering area, barbecue area with seating, pool and community room. The property was built in 2019. Adrienne Barr of Berkadia Los Angeles represented the seller in the transaction.

August 22, 2022

Acquisitions Office Southeast Tennessee

Cooper Commercial Negotiates $24.5M Sale of Parkside Plaza I Office Building in Knoxville

by John Nelson August 22, 2022

KNOXVILLE, TENN. — The Cooper Commercial Investment Group has negotiated the $24.5 million sale of Parkside Plaza I, an office building in Knoxville that was fully leased at the time of sale to tenants such as Raymond James and Waste Connections. Dan Cooper of Cooper Commercial represented the seller, a private investor and repeat client of Cooper Commercial, in the transaction. The buyer was an undisclosed, privately based investment group based in Louisville, Ky.

August 22, 2022

Acquisitions California Industrial Office Western

Adler Realty Divests of 118,864 SF Office/R&D Facility in Agoura Hills, California for $19.3M

by Amy Works August 22, 2022

AGOURA HILLS, CALIF. — Adler Realty has completed the sale of an office and R&D complex located at 30601 Agoura Road in Agoura Hills. Harbor Realty acquired the asset for $19.3 million. Jay Rubin and Jared Smits of Lee & Associates – LA North/Ventura represented the seller, while Mark Perry of CBRE represented the buyer in the deal. At the time of sale, the 118,864-square-foot building was 58 percent occupied. The facility includes a solar power plant.

August 22, 2022

Acquisitions North Carolina Self-Storage Southeast

CBRE Arranges $23.6M Sale of Two Self-Storage Facilities in Suburban Charlotte

by John Nelson August 22, 2022

SALISBURY AND MOORESVILLE, N.C. — CBRE has arranged the $23.6 million sale of two self-storage facilities in the Charlotte suburbs of Salisbury and Mooresville. Lakeland Village acquired the portfolio, both of which are operated by Extra Space Storage, from an undisclosed private investor. Morgan Windbiel of CBRE’s Self Storage Advisory Group represented the seller in the transaction. The Salisbury facility, located at 725 Jake Alexander Blvd. S, measures 66,000 square feet and includes 680 units. A second phase expansion was delivered at certificate of occupancy, according to CBRE. The Mooresville facility, located at 1110 Brawley School Road, measures 70,994 square feet and consists of 705 units.

August 22, 2022

Acquisitions Arizona Office Western

Cushman & Wakefield Negotiates $8.2M Sale of Office Building in Phoenix

by Amy Works August 22, 2022

PHOENIX — Cushman & Wakefield has arranged the sale of a multi-tenant office property in Phoenix. Jumping Cholla II LLC sold the asset to 4545 Investment Alliance LLC, a Washington company, for $8.2 million. Located at 4545 E. Shea Blvd., the two-story building features 46,574 square feet of space. At the time of sale, the property was 90 percent leased to a mix of tenants. Built in the mid-1980s and renovated in 2008, the garden-style building features a covered central courtyard and outdoor common area patio spaces on the second floor. Eric Wichterman and Mike Coover of Cushman & Wakefield’s private capital and capital markets teams in Phoenix represented the seller in the transaction.

August 22, 2022

Acquisitions California Retail Western

SRS Real Estate Partners Brokers $8.1M Sale of Planet Fitness-Occupied Retail Property in San Diego

by Amy Works August 22, 2022

SAN DIEGO — SRS Real Estate Partners has arranged the sale of single-tenant retail building located at 9420 Scranton Road in San Diego. A Southern California-based retail property owner and operator sold the asset to a Southern California-based family partnership for $8.1 million in an all-cash transaction. Planet Fitness occupies the 17,000-square-foot building, which was built in 1986 and renovated in 2020. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease group represented the seller and buyer in the deal.

August 22, 2022

Alabama Development Seniors Housing Southeast

KIRCO Opens 132-Unit Seniors Housing Community in Madison, Alabama

by John Nelson August 22, 2022

MADISON, ALA. — KIRCO has delivered and opened Madison Crossings, an independent living and memory care seniors housing community in Madison, about 10 miles from downtown Huntsville. Phoenix Senior Living operates the community, which features an outdoor swimming pool, wellness center, dining experience, pub, beauty salon and spa, yoga studio, outdoor pickleball and bocce ball courts. Madison Crossings comprises 105 independent living apartments and 27 memory care residences. The property represents the 10th seniors housing facility in Alabama operating under the Phoenix Senior Living brand. KIRCO MANIX, a third-party construction services firm and affiliate of KIRCO, completed the construction for Madison Crossings.

August 22, 2022

Development Georgia Leasing Activity Retail Southeast

Macy’s Debuts 30,000 SF Market by Macy’s Store in Suwanee, Georgia

by John Nelson August 22, 2022

SUWANEE, GA. — Macy’s has opened its “off-mall” store concept, Market by Macy’s, in the metro Atlanta area. The 30,000-square-foot store is located within Johns Creek Town Center at 3630 Peachtree Parkway in Suwanee, a northeast suburb of Atlanta in Gwinnett County. The store, the third Markey by Macy’s in the Atlanta area, includes a rotating installation of apparel called “Trend Village,” a Toys ‘R’ Us store-within-a-store and home décor and cosmetics departments. By the end of the year, Macy’s plans to expand Market by Macy’s to eight total locations, including new stores coming to metro St. Louis and Chicago, as well as a couple stores in the Dallas-Fort Worth area.

August 22, 2022

Affordable Housing Development Georgia Multifamily Southeast

Prestwick, ANDP to Develop 58-Unit Affordable Housing Community in Atlanta

by John Nelson August 22, 2022

ATLANTA — Prestwick Development Co. and Atlanta Neighborhood Development Partnership Inc. (ANDP) will soon break ground on 1055 Arden, a 58-unit affordable housing community located at 1055 Arden Ave. SW in Atlanta’s Capitol View neighborhood. The development includes 58 units, of which 28 units will be available for individuals and families earning at or below 50 percent area median income (AMI), with six set aside as permanent supportive housing through a program with Atlanta Housing/Partners for HOME for individuals who are experiencing homelessness. Twenty apartments will be available for individuals and families earning at or below 60 percent AMI, and 10 apartments will be available at market-rate rents. Funding for 1055 Arden comes from several partners and sources, including $2 million from the Atlanta BeltLine Affordable Housing Trust Fund, permanent debt from Centrant, a land note from ANDP, a construction loan and “Capital Magnet Funds” from Reinvestment Fund, a grant from HomeFirst program for permanent supportive housing, including project-based rental assistance from Atlanta Housing and supportive services provided by Fulton County and LIHTC equity from Georgia Department of Community Affairs, Enterprise Community Investments and US Bank. 1055 Arden will include 2,000 square feet of ground-floor commercial space that could serve …

August 22, 2022

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