Property Type

SRS Real Estate Partners Negotiates $8.2M Sale of Raising Cane’s-Occupied Property in San Bernardino

by Amy Works November 4, 2021

SAN BERNARDINO, CALIF. — SRS Real Estate Partners has arranged the sale of a restaurant building located at 1857 S. Tippecanoe Ave. in San Bernardino. An affiliate of Red Mountain Group sold the property to a San Diego-based high-net-worth investor for $8.2 million. Raising Cane’s Chicken Fingers occupies the 4,086-square-foot property, which was built in 2017 on 1.2 acres and has more than 11 years remaining on its absolute triple-net lease. Matthew Mousavi and Patrick Luther of SRS’s National Net Lease Group represented the seller, while Jim Casale of Lee & Associates represented the buyer in the deal. According to SRS Real Estate, the transaction is the highest price point for a Raising Cane’s property sold to date on a national basis.

November 4, 2021

1600-Desert-Surf-Circle-NE-Albuquerque-NM

Acquisitions Net Lease New Mexico Retail Western

Marcus & Millichap Brokers Sale of TopGolf-Leased Property in Albuquerque

by Amy Works November 4, 2021

ALBUQUERQUE, N.M. — Marcus & Millichap has arranged the sale of a retail building located at 1600 Desert Surf Circle NE in Albuquerque. A limited liability company acquired the asset for an undisclosed price. The name of the seller was not released. TopGolf occupies the 25,525-square-foot property, which was built in 2021, on a net-lease basis. Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office, along with Matthew Reeves of the firm’s New Mexico office, handled the transaction.

November 4, 2021

Development Industrial Texas

Lovett Industrial Delivers Three Warehouses Totaling 1.6 MSF in Metro Houston

by Taylor Williams November 4, 2021

MISSOURI CITY, SPRING AND SUGAR LAND, TEXAS — Locally based investment firm Lovett Industrial has completed construction of three warehouses totaling approximately 1.6 million square feet in the Houston area. The properties include a 1 million-square-foot building in the southwestern suburb of Missouri City; a 220,000-square-foot facility within 99 North Logistics Park in the northern suburb of Spring; and a 326,000-square-foot asset located within Sugar Land Business Park, also on the city’s southwestern outskirts. The first two projects were executed as build-to-suits for an undisclosed, global e-commerce firm. The third building is 50 percent leased to Boise Cascade Building Materials Distribution. Lovett Industrial delivered the buildings with 95 percent of the total space preleased.

November 4, 2021

Acquisitions Multifamily Texas

TruePoint, Electra Capital Buy 436-Unit Apartment Community in Houston

by Taylor Williams November 4, 2021

HOUSTON — Metro Houston-based investment firm TruePoint Capital has acquired The Aubrey, a 436-unit apartment community in Houston’s Westchase neighborhood. Florida-based Electra Capital contributed a $5.2 million equity investment to the deal. The Aubrey offers one-, two- and three-bedroom units that range in size from 700 to 1,300 square feet and feature wood-style flooring, designer color schemes, washer/dryer connections and private patios/balconies. Communal amenities include two pools, a fitness center, a full-service business center, clothing care center, dog park and a playground.

November 4, 2021

Acquisitions Multifamily Texas

Partnership Acquires 252-Unit Garden Park Apartments in Arlington

by Taylor Williams November 4, 2021

ARLINGTON, TEXAS — A partnership led by Vertical Street Ventures has acquired Garden Park Apartments, a 252-unit multifamily community in Arlington. Built in 1968 and partially renovated in 2020, the property offers amenities such as a pool, outdoor lounge, playground and outdoor yoga space. The partnership, which now owns four properties in Texas, also included Invest in Multifamily, Limitless Estates and other private investors.

November 4, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 96-Unit Multifamily Property in Fort Worth

by Taylor Williams November 4, 2021

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Estrella at Broadmoor, a 96-unit multifamily property in Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a locally based investment firm, in the transaction. The duo also procured the buyer, a locally based partnership. Both parties involved in the deal requested anonymity.

November 4, 2021

Acquisitions Oklahoma Retail Texas

Stan Johnson Co. Arranges $9.1M Sale of Tulsa Retail Center

by Taylor Williams November 4, 2021

TULSA, OKLA. — Stan Johnson Co. has arranged the $9.1 million sale of a 102,000-square-foot retail center in Tulsa. Anchored by Burlington, the center is adjacent to the 1 million-square-foot Woodland Hills Mall on the city’s south side. Mike Sladich, Jeff Hughes, Maggie Holmes and Michael Watson of Stan Johnson Co. represented the seller, a Baltimore-based investor, in the transaction. The buyer was a California-based 1031 exchange investor.

November 4, 2021

Acquisitions Affordable Housing Multifamily New Jersey Northeast

Gebroe-Hammer Negotiates $113M Sale of Northern New Jersey Workforce Housing Portfolio

by Taylor Williams November 4, 2021

EAST ORANGE, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has negotiated the $113 million sale of a 641-unit workforce housing portfolio in the Northern New Jersey community of East Orange. The portfolio consists of 10 transit-oriented properties that are all located within two miles of one another in the city’s downtown area. Milrose, a private investment group based in Central New Jersey, sold the portfolio to Spaxel. Joseph Brecher, David Oropeza and Niko Nicolaou of Gebroe-Hammer brokered the deal.

November 4, 2021

Healthcare Loans Northeast Pennsylvania

G.S. Wilcox Arranges $44M Construction Loan for Lehigh Valley Healthcare Project

by Taylor Williams November 4, 2021

LEHIGH COUNTY, PA. — G.S. Wilcox, a commercial mortgage banking firm based in Northern New Jersey, has arranged a $44 million construction loan for a 70,000-square-foot healthcare project in Pennsylvania’s Lehigh Valley. The exact location of the single-tenant project was not disclosed. Wesley Wilcox of G.S. Wilcox arranged the fixed-rate loan, which carried a 23-year term, on behalf of the undisclosed borrower.

November 4, 2021

Acquisitions Multifamily New Jersey Northeast Seniors Housing

Tryko Partners Acquires 299-Bed Seniors Housing Facility in Allendale, New Jersey

by Taylor Williams November 4, 2021

ALLENDALE, N.J. — New Jersey-based investment firm Tryko Partners has acquired The Allendale Community for Senior Living, a 299-bed facility located in Northern New Jersey’s Bergen County. The 146,000-square-foot facility was built in the 1960s and offers skilled nursing, assisted living and memory care services. The seller and sales price were not disclosed.

November 4, 2021

Newer Posts

Older Posts

Upcoming Events

Aug
06