Property Type

Tabani Group Acquires Retail Center in Central Florida for $9.2M

by Julia Sanders November 9, 2021

EUSTIS, FLA. — Tabani Group Inc., a Dallas-based commercial real estate firm, has acquired Shoppes at Eustis Village, a 29,367-square-foot retail strip center in Eustis, about 37.9 miles north from Orlando. Brad Peterson, Whitaker Leonhardt, Michael Brewster and Tommy Isola of JLL represented the seller, Miami-based CORE Investment Properties, in the transaction. The sales price was approximately $9.2 million. Completed in 2006, the Shoppes at Eustis Village is fully leased to nine tenants including Starbucks Coffee, Verizon Wireless, Pep Boys, Greenberg Dental, Liberty Health Sciences and Planet Smoothie. Located at 15439 US Highway 441, the three-building property is shadow-anchored by Publix and Bealls.

November 9, 2021

Acquisitions Hospitality Midwest Wisconsin

Brick by Brick Capital Acquires Historic Four Seasons Island Resort in Pembine, Wisconsin

by Kristin Harlow November 9, 2021

PEMBINE, WIS. — An affiliate of Chicago-based Brick by Brick Capital, in partnership with tech-enabled hotel operator Life House, has acquired the historic Four Seasons Island Resort in the Northeast Wisconsin town of Pembine. The purchase price was undisclosed. The deal represents the first hotel in Wisconsin for both Brick by Brick and Life House, and the first of several planned acquisitions across the upper Midwest. Originally built in 1905 by the Wisconsin-Michigan Railroad Co., the 70-acre resort was a popular destination for visitors arriving by railroad from Chicago during the summer months. The hotel is located on Miscauno Island along a scenic stretch of the Menominee River, which is the natural border separating Wisconsin from the Upper Peninsula of Michigan. Life House will operate a wide array of amenities, including four dining options, a nine-hole golf course, wedding and conference facilities, an indoor pool, fitness room, arcade, pontoon boat tours and cross-country ski rentals.

November 9, 2021

Development Illinois Industrial Midwest

Opus Begins Construction of 49,984 SF Industrial Build-to-Suit in West Dundee, Illinois

by Kristin Harlow November 9, 2021

WEST DUNDEE, ILL. — The Opus Group has begun construction on a 49,984-square-foot industrial build-to-suit for Chicago Logistic Service in West Dundee, a far northwest Chicago suburb. This is the ninth project Opus has built within the Oakview Corporate Park. The building will feature 10 dock doors, two drive-in doors, 15 trailer stalls, 39 parking stalls, 2,900 square feet of office space and a clear height of 28 feet. Completion is slated for July 2022. Opus is serving as developer, design-builder, interior designer, architect and structural engineer. Noel Liston of Darwin Realty represented both Opus and the tenant.

November 9, 2021

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 40,500 SF Industrial Building in South Holland, Illinois

by Kristin Harlow November 9, 2021

SOUTH HOLLAND, ILL. — Entre Commercial Realty has brokered the sale of a 40,500-square-foot industrial building in South Holland, a southern suburb of Chicago. The sales price was undisclosed. The property is located at 510 W. 172nd St. Chris Wilbur and Jeff Locascio of Entre represented the seller, Hadady Corp. Sam Deihs of Entre represented the buyer, Green Electric Solutions, an electronics recycler.

November 9, 2021

Illinois Leasing Activity Midwest Office

Celero Commerce Renews 27,000 SF Office Lease in Rosemont, Illinois

by Kristin Harlow November 9, 2021

ROSEMONT, ILL. — Celero Commerce, a financial tech company, has renewed its 27,000-square-foot, full-floor office lease at Pointe O’Hare in Rosemont. The Class A office tower is located at 9550 W. Higgins Road. Celero inherited the Chicago-area office following its acquisition of Transnational Payments in October 2020, marking the sixth acquisition for the company since its formation in November 2018. Celero has approximately 260 employees with continued plans for expansion. Campbell Puckett, Andrew Kaplan and Jon Springer of CBRE represented Celero in the lease.

November 9, 2021

Acquisitions Colorado Multifamily Western

Seagate Colorado Partners Divests of Arista Uptown Apartments in Broomfield, Colorado for $95M

by Amy Works November 9, 2021

BROOMFIELD, COLO. — Seagate Colorado Partners has completed the sale of Arista Uptown Apartments at 8500 Arista Place within Arista, a 200-acre, transit-oriented, master-planned community in Broomfield. Kennedy Wilson and the real estate business within Goldman Sachs Asset Management acquired the property for $95 million. Completed in 2012, the property features 272 apartments in a mix of studio, one- and two-bedroom floor plans with 10-foot ceilings. Community amenities include a resort-style pool, clubhouse, fitness center and dog park. Dave Martin and Brian Mooney of Northmarq’s Denver investment sales team represented the seller in the deal. David Link and Jeff DeHarty of Northmarq’s Denver debt and equity team arranged $53 million in acquisition financing for the buyer through a long-standing life company relationship.

November 9, 2021

Acquisitions Arizona Multifamily Western

Jevan Capital Sells The Halifax Multifamily Property in Phoenix for $76M

by Amy Works November 9, 2021

PHOENIX — Jevan Capital has completed the disposition of The Halifax, an apartment community in Phoenix. Western Wealth Capital acquired the property for $76 million, or $253,333 per unit. Originally constructed in 1973, the 300-unit property underwent a large-scale reconstruction from 2018 to 2021, with apartments receiving luxury finishes, property systems being upgraded and community amenities added. The Halifax offers one-, two- and three-bedroom layouts with custom cabinetry, breakfast bars and wood-style plank flooring. Select units offer granite countertops, stainless steel appliances, kitchen pantries and walk-in closets. Community amenities include a centrally located and rebuilt swimming pool and spa, modernized leasing office, business center, fitness center, two laundry facilities, freshly installed dog park and covered parking. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

November 9, 2021

Affordable Housing California Development Multifamily Western

RAAM Construction Breaks Ground on 151-Unit Palmdale Terrace Affordable Apartment Community in California

by Amy Works November 9, 2021

PALMDALE, CALIF. — RAAM Construction has broken ground on the construction Palmdale Terrace, an affordable multifamily property located at SW 25th Street East and East Avenue in Palmdale. The project team includes Meta Housing Corp., Western Community Housing, AMJ Construction Management and Y&M Architects. Slated for completion in May 2023, Palmdale Terrace will feature 151 apartments in a mix of one-, two- and three-bedroom layouts. All units will offer fully equipped kitchens and bathrooms. On-site amenities include community gathering areas, a shaded picnic area, a large children’s play structure and a dog park. Additionally, two units will be for on-site managers. The residences are reserved for individuals and families earning between 30 percent and 60 percent of Los Angeles County’s median income. Pacific Western Bank provided a $40.5 million construction loan for the project.

November 9, 2021

Acquisitions California Retail Western

Sunbelt Investment Buys Largest Home Depot Location on West Coast in Anaheim Hills

by Amy Works November 9, 2021

ANAHEIM HILLS, CALIF. — San Diego-based Sunbelt Investment Holdings has purchased a Home Depot Superstore in Anaheim Hills for an undisclosed price. The name of the seller was not released. The 205,000-square-foot flagship store is situated on 18 acres along the north side of Interstate 91. The property is the largest Home Depot on the West Coast and the second largest in the nation, according to the buyer. Sunbelt Investment now owns 18 shopping centers in Southern California and three in Arizona, representing approximately 4 million square feet of Class A retail space. The company also owns Home Depot locations at Genesse Plaza and on Sports Arena Boulevard in San Diego and a store in San Bernardino.

November 9, 2021

Acquisitions California Industrial Office Western

Stos Partners Acquires 37,500 SF Office/Manufacturing Facility in Poway, California

by Amy Works November 9, 2021

POWAY, CALIF. — Stos Partners has purchased a corporate headquarters and manufacturing facility located at 13955 Stowe Drive in Poway. A private seller sold the asset for $8.6 million. Stos Partners plans to implement a series of capital upgrades including interior office rehabilitation, roof repair and HVAC system replacement. Shortly after closing, the buyer secured a tenant to fully occupy the 37,500-square-foot office and manufacturing building. James Duncan and Mickey Morera of Kidder Matthews represented Stos Partners in the transaction. C3Bank provided financing for the acquisition.

November 9, 2021

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