Property Type

Hanley Investment Group Brokers $19.3M Sales of Four Single-Tenant Investments at Retail Center in Rosamond, California

by Amy Works January 27, 2022

ROSAMOND, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sales of four single-tenant, net-leased investments at a shopping center in Rosamond for a total consideration of $19.3 million. Four separate buyers acquired the assets, which offer a combined total of 28,462 square feet and were built in 2021. Bill Asher and Jeff Lefko of Hanley Investment Group represented the developer and seller, a partnership between Pasadena-based Halferty Development Co. and Net Lease Alliance. In the first transaction, Asher and Lefko brokered the sale of a 16,000-square-foot Grocery Outlet-occupied property at 2550 Rosamond Blvd. A San Diego-based private partnership purchased the asset for $7.1 million. Mike Conger of San Diego-based CAA represented the buyer in the deal. A Los Angeles-based private investor acquired a 2,200-square-foot Starbucks Café and Drive-Thru at 2544 Rosamond Blvd. for $3.5 million. Joey Kim of Irvine-based eXp Realty represented the buyer, while Asher and Lefko represented the seller. In the third deal, Asher and Lefko arranged the sale of a 3,062-square-foot 7-Eleven convenience store with a gas station at 2536 Rosamond Blvd. A San Diego-based private investor acquired the property for $5.6 million. Lindsey Kalal of Coronado-based Kalal Investment Realty represented the buyer, while …

January 27, 2022

Courtyard-Medical-Professional-Center-Hemet-CA

Acquisitions California Healthcare Office Western

Progressive Real Estate Arranges $5.6M Sale of Courtyard Medical & Professional Center in Hemet, California

by Amy Works January 27, 2022

HEMET, CALIF. — Progressive Real Estate Partners has arranged the sale of Courtyard Medical & Professional Center, located at 910-960 N. State St. in Hemet. A Newport Beach-based private investor acquired the asset for $5.6 million. Greg Bedell of Progressive Real Estate Partners represented the seller, while Henry Liu of CBD Investments represented the buyer in the transaction. Built in 1981, the 39,796-square-foot Courtyard Medical & Progressive Center was fully occupied at the time of sale.

January 27, 2022

Development Florida Multifamily Southeast

PCCP, Fore Property to Develop 410-Unit Apartment Community in Metro Orlando

by Julia Sanders January 27, 2022

OCOEE, FLA. — A joint venture between PCCP LLC and Fore Property Co. will develop The Alibi at Lake Lilly, a 410-unit apartment community in Ocoee. The construction timeline for the project was not disclosed. Situated on 16.7 acres, The Alibi at Lake Lilly will feature five four-story buildings and seven carriage and townhome buildings with 722 parking spaces. The LEED Silver-designed, garden-style community will offer 24 studios, 156 one-bedroom units, 186 two-bedroom units and 44 three-bedroom units. Interiors will include granite and quartz countertops, stainless steel appliances, hardwood style flooring, spa-inspired bathrooms with semi-frameless showers, in-unit washer and dryers and a smart home package. Community amenities will feature a 13,500-square-foot clubhouse with a sports bar area and game area, pool, outdoor lounge area with grills and firepits, 24-hour fitness center, a dog park and walking trails. Located at 2802 Old Winter Garden Road, the property is situated adjacent to the Florida Turnpike. The property is also 3.6 miles from downtown Orlando, eight miles from Orlando Health Central Hospital and 13.3 miles from Winter Garden Village, a shopping mall with tenants such as Best Buy, Chick-fil-A and LongHorn Steakhouse.

January 27, 2022

Acquisitions Industrial Massachusetts Northeast

Newmark Brokers $52M Sale of Distribution Center in Worcester, Massachusetts

by Taylor Williams January 27, 2022

WORCESTER, MASS. — Newmark has brokered the $52 million sale of a 176,000-square-foot distribution center in the central Massachusetts city of Worcester. The facility recently underwent a redevelopment project that was completed last year. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Samantha Hallowell and Brian Pinch of Newmark represented the seller, R.J. Kelly Co., a locally based institutional investment firm, in the transaction. The team also procured the buyer, Boston-based Tritower Financial Group.

January 27, 2022

Acquisitions Kentucky Multifamily Southeast

Marcus & Millichap Brokers Sale of 30-Unit Apartment Property in Henderson, Kentucky

by Julia Sanders January 27, 2022

HENDERSON, KY. — Marcus & Millichap has brokered the sale of Elmwood Apartments, a 30-unit multifamily property located in Henderson. The property sold for $1.3 million. Aaron Kuroiwa, Jack Friskney and Austin Meeker of Marcus & Millichap represented the buyer and seller, which were both undisclosed limited liability companies. Colby Haugness, Marcus & Millichap’s Kentucky broker of record, assisted in closing the transaction. Elmwood Apartments includes 16 one-bedroom and 14 two-bedroom units across four buildings on 1.2 acres. The property was fully occupied at the time of sale. Located at 1818 N Elm St., the property is situated across the Ohio River from Evansville.

January 27, 2022

Loans Multifamily New Jersey Northeast

BHI Provides $36M Construction Loan for Jersey City Multifamily Project

by Taylor Williams January 27, 2022

JERSEY CITY, N.J. — BHI, a full-service commercial bank that is the U.S division of Israel’s Bank Hapoalim, has provided a $36 million construction loan for 144 First Street, an 84-unit multifamily project in Jersey City. The 115,000-square-foot, transit-served property will be located in the Powerhouse Arts District. The borrower is locally based developer EPIRE. Fogarty Finger is the project architect, and Molfetta Corp. is the general contractor. Completion is slated for June 2023.

January 27, 2022

Acquisitions Multifamily North Carolina Southeast Student Housing

Coldwell Banker Negotiates $10.3M Sale of Six Student Housing Properties in Charlotte

by Julia Sanders January 27, 2022

CHARLOTTE, N.C. — Coldwell Banker Commercial MECA has negotiated the $10.3 million sale of six student housing properties in Charlotte. Bob Clay and Eric Clay of Coldwell Banker represented the undisclosed seller in the transaction. The buyer was also not disclosed. The six properties are located near the University of North Carolina at Charlotte and have a total of 196 beds in a mix of condominiums and townhomes. The properties include University Terrace (10 units and 40 beds), University Terrace North (21 units and 84 beds), Colville Gardens (15 units and 30 beds), Colville Townhomes (five units and 15 beds), Campus Walk (seven units and 21 beds) and Alexander Townhomes (two units and six beds).

January 27, 2022

Acquisitions Industrial New Jersey Northeast

Sheldon Gross Realty Arranges Sale of 199,000 SF Industrial Property in Freehold, New Jersey

by Taylor Williams January 27, 2022

FREEHOLD, N.J. — Locally based brokerage firm Sheldon Gross Realty has arranged the sale of a 199,000-square-foot industrial property that is situated on a 30-acre site at 235 Willow Brook Road in Freehold, located in Monmouth County. Jonathan Glick and Matt Leonelli of Sheldon Gross Realty represented the undisclosed seller in the transaction. CBRE represented the buyer, New York City-based Saadia Group.

January 27, 2022

Civic Development New York Northeast

Seton Education Partners to Open 73,000 SF Charter School in The Bronx

by Taylor Williams January 27, 2022

NEW YORK CITY — Seton Education Partners, a nonprofit owner-operator of charter schools, has entered into a leasehold condominium agreement with Bolivar Development to open a 73,000-square-foot school at 1936 Jerome Ave. in The Bronx. The structure of the deal allows Seton to own the condo unit that will house the school for 39 years before ownership reverts to the developer. The school will be operated under the Brilla Public Charter School brand and will ultimately serve more than 800 students in grades K-8. Stephen Powers and Lindsay Ornstein of OPEN Impact Real Estate, along with Jake Cinti and Alexander Smith of Transwestern, represented Seton in the deal. Jim Lester and Peter Fine represented Bolivar Development on an internal basis. The new building is expected to open for the 2024-2025 academic year, initially serving students in grades K-4 and expanding through eighth grade by 2028.

January 27, 2022

Colorado Company News Multifamily NAI Western

NAI Global Adds New Specialty Service with NAI Outdoor Hospitality Brokers

by Amy Works January 27, 2022

NEW YORK AND BASALT, COLO. — NAI Global has expanded its services with a new specialty service that will do business as NAI Outdoor Hospitality Brokers. Bob Kaplan and his Colorado-based team will specialize in buying and selling RV parks, campgrounds and glamping resorts on behalf of investors throughout the United States. Kaplan and his team of three other agents and an operations manager have 27 years of combined brokerage experience in commercial real estate brokerage, during which time they have closed more than 200 transactions valued in excess of $600 million. In 2021, the team closed 18 transactions in 11 states, totaling over $84 million in value. The group’s primary geographical areas are the Rocky Mountains and Western States, Texas, the Southeast and the Northeast. NAI Outdoor Hospitality Brokers is affiliated with The National Association of Recreational Parks & Campgrounds, the American Glamping Association, the Colorado Campground & Lodging Association and the Texas Association of Campground Owners.

January 27, 2022

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