Property Type

Madison Capital, Meadow Partners Acquire Ford Point R&D Property in Richmond, California for $103.7M

by Amy Works June 17, 2022

RICHMOND, CALIF. — New York-based Madison Capital and Meadow Partners have purchased Ford Point, a creative R&D building located at 1414 Harbour Way S. in Richmond. Orton Development sold the asset for $103.7 million. At the time of sale, the 478,761-square-foot property was 83 percent leased to a variety of tenants, including SunPower, Mountain Hardwear and California Closets. Orton Development purchased the long-dormant, 22.9-acre site from the Richmond Redevelopment Agency in 2004 and began a comprehensive $40 million renovation of the entire building, installing new building systems and undertaking an extensive seismic upgrade. Since 2008, the company invested an additional $11.3 million for an ungraded roof, electric vehicle charging stations, asphalt repaving and one mega-watt rooftop solar system. Designed in 1930 by Albert Kahn, Ford Point was built as the Ford Motor Co. Assembly Plant and was the largest assembly plant to be built on the West Coast. Ford Point has been on the National Register of Historical places since 1988, and the site is home to a National Parks Services education center, known as the Rosie the Riveter Visitor Center. Seth Siegel, Steve Hermann, Ryan Venezia, Rick Ryan, Kevin Flemming and Courtney Trunnell of Cushman & Wakefield’s Northern California …

June 17, 2022

Acquisitions Multifamily New York Northeast

Ariel Property Advisors Arranges $11.5M Sale of Two New York City Multifamily Buildings

by Taylor Williams June 17, 2022

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $11.5 million sale of two New York City multifamily buildings. The 10-unit building at 246 W. 108th St. on Manhattan’s Upper West Side sold for $5.8 million, and the 11-unit building at 369 W. 126th St. in Harlem sold for $5.7 million. Shimon Shkury, Victor Sozio, Howard Raber and Mark Anderson of Ariel Property Advisors brokered the first deal. Sozio, James Nestor and Evan Hirsch of Ariel negotiated the second transaction. The buyers and sellers were not disclosed.

June 17, 2022

Acquisitions Colorado Retail Western

CBRE Brokers $21.4M Sale of Centerpointe Plaza Retail Center in Colorado Springs

by Amy Works June 17, 2022

COLORADO SPRINGS, COLO. — CBRE has arranged the sale of Centerpointe Plaza, a neighborhood shopping center located at 5605-5785 North Academy Blvd. in Colorado Springs. A Denver-based private fund acquired the property from Phoenix-based Kinetic Development for $21.4 million. Built in 1983, Centerpointe Plaza features 154,988 square feet of retail space. At the time of sale, Centerpointe Plaza was 85 percent occupied. Current tenants include Dollar Tree, Tuesday Morning, Key Bank, Boot Barn, Whiskey Baron, Winnelson Bath & Kitchen Idea Center and Guiry’s Color Source. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE’s National Retail Partners represented the seller in the deal.

June 17, 2022

Affordable Housing California Development Multifamily Western

USA Properties Fund Starts Construction of Terracina at Whitney Ranch Affordable Housing Community in Rocklin, California

by Amy Works June 17, 2022

ROCKLIN, CALIF. — Roseville-based USA Properties Fund has started construction of Terracina at Whitney Ranch, an affordable multifamily property in Rocklin. Completion is slated for late 2024. Situated between University Avenue and Wildcat Boulevard, Terracina at Whitney Ranch will feature 288 apartments in a mix of one-, two- and three-bedroom layouts. Units will offer energy-efficient appliances, light fixtures and ceiling fans, as well as low-flow faucets, showers and toilets. One-bedroom apartment rents are projected to be $515 to $1,275 per month, while two-bedroom apartments will lease for $606 to $1,518 per month and three-bedroom units will rent for $687 and $1,741 per month. Community amenities will include a 4,000-square-foot clubhouse with a community room and fitness room, a swimming pool, courtyard with seating, a tot-lot play area and laundry facilities.

June 17, 2022

Leasing Activity New Jersey Northeast Office

Siemens Signs 65,500 SF Office Lease in Iselin, New Jersey

by Taylor Williams June 17, 2022

ISELIN, N.J. — Industrial technology firm Siemens has signed a 65,500-square-foot office lease at 200 Wood Avenue South, an office building located within the Metropark development in the Northern New Jersey community of Iselin. The 270,000-square-foot building features a newly renovated lobby, fitness center, collaborative common areas and landscaped outdoor amenity spaces. Jeff Babikian of CBRE represented Siemens in the lease negotiations. Wes Moore, also with CBRE, represented the landlord, SJP Properties.

June 17, 2022

Creekside-Plaza-Office-Park-San-Leandro-CA

Acquisitions California Office Western

Cushman & Wakefield Negotiates Sale of 227,803 SF Creekside Plaza Office Park in San Leandro, California

by Amy Works June 17, 2022

SAN LEANDRO, CALIF. — Cushman & Wakefield has arranged the sale of Creekside Plaza Office Park, a three-building office campus and development site in San Leandro. An institutional investor purchased the asset from a privately held real estate development company for an undisclosed price. Built in phases between 2002 to 2010, Creekside Plaza Office Park features 227,803 square feet of Class A, multi-tenant office space. Owned by the original developers for the more than 20 years, this is the first time Creekside Plaza was marketed for sale. Ryan Venezia, Barry Cohn, Seth Siegel, Steve Hermann, Rick Ryan, Kevin Flemming and David Englert of Cushman & Wakefield represented the seller in the transaction.

June 17, 2022

Acquisitions Arizona Multifamily Western

Western Wealth Capital Buys 352-Unit Villetta Apartment Homes in Mesa, Arizona

by Amy Works June 17, 2022

MESA, ARIZ. — Western Wealth Capital has purchased Villetta Apartment Homes, a multifamily property in Mesa. Terms of the transaction were not released. Villetta Apartment Homes features 352 apartments. Western Wealth Capital plans to implement interior and exterior value-add programs at the property. Many of the interiors are in original condition and have not been upgraded since the property’s completion in 1983. The property amenities have recently been upgraded.

June 17, 2022

Leasing Activity Midwest Ohio Retail

Amazon Style Store to Open at Easton Town Center in Columbus, Ohio

by Kristin Harlow June 17, 2022

COLUMBUS, OHIO — Amazon is opening an Amazon Style store at Easton Town Center in Columbus. The store will be the first Amazon Style location in the state of Ohio and the second nationwide for the e-commerce giant. The first Amazon Style store opened in the Los Angeles area May 25. As Amazon’s first-ever physical clothing store, Amazon Style is designed to help customers discover fashion looks through a personalized and convenient shopping experience using advanced technology. Customers can scan items on the Amazon Shopping app to send them to fitting rooms or directly to the pickup counter to purchase. In the fitting rooms, customers can use an in-room touchscreen to request additional sizes, colors and styles.

June 17, 2022

Illinois Industrial Loans Midwest

JLL Arranges $61M Loan for Acquisition of Industrial Portfolio Across 17 Markets

by Kristin Harlow June 17, 2022

CHICAGO — JLL Capital Markets has arranged a $61 million loan for the acquisition of a 21-property industrial portfolio across 17 markets in the Southeast, Mid-Atlantic, New England and Central U.S. The portfolio is 93 percent leased to 18 tenants with an average tenure of nearly 17 years. Matthew Schoenfeldt and Lucas Borges of Chicago-based JLL arranged the loan on behalf of the borrower, Biynah Industrial Partners. The lender and loan terms were not provided.

June 17, 2022

Acquisitions Midwest Multifamily NAI Seniors Housing Wisconsin

NAI Greywolf Negotiates Sale of 123-Bed Seniors Housing Campus in Green Bay, Wisconsin

by Kristin Harlow June 17, 2022

GREEN BAY, WIS. — NAI Greywolf has negotiated the sale of two seniors housing communities in Green Bay. Dawn Davis of NAI Greywolf represented the seller. The portfolio included Bishop’s Court Community, a 69-bed assisted living facility with memory care, and Allouez Sunrise Village, which is a 49-unit residential care apartment complex. The combined 125,711-square-foot portfolio is located on the same campus. The buyer and price were not disclosed.

June 17, 2022

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