Property Type

Brixton Capital Divests of Fletcher Marketplace Retail Center Near San Diego for $11.4M

by Amy Works December 20, 2021

EL CAJON, CALIF. — Southern California-based Brixton Capital has completed the disposition of Fletcher Marketplace, a retail strip center situated on 1.9 acres at 110 Fletcher Parkway in El Cajon. A private investor acquired the asset for $11.4 million. Built in 2020, the two-building, 11,996-square-foot Fletcher Marketplace is triple-net leased to five tenants, including Mattress Firm, Dave’s Hot Chicken, The Joint Chiropractic, Urbane Café and California Fish Grill. Gleb Lvovich and Daniel Tyner of JLL Retail Capital represented the seller in the deal. Don Moser of Retail Insite provided local market support.

December 20, 2021

Acquisitions Office Washington Western

Marcus & Mililchap Brokers Sale of 7,275 SF Office Building in Bothell, Washington

by Amy Works December 20, 2021

BOTHELL, WASH. — Marcus & Millichap has arranged the sale of Thrasher’s Corner Professional Center, an office property in Bothell. A private investor sold the asset to another private investor for $2 million. John Marks, Stren Lea and Matthew Herman of Marcus & Millichap’s Seattle office represented the seller and the buyer in the deal. Located 1729 208th St. SE, the 7,275-square-foot property was fully occupied at the time of sale. Built in 1987, the property serves a variety of professional tenants and prominent local dental clinic anchors the asset.

December 20, 2021

Acquisitions Retail Texas

Marcus & Millichap Negotiates Sale of 80,774 SF Retail Center in Metro Dallas

by Taylor Williams December 20, 2021

CARROLLTON, TEXAS — Marcus & Millichap has negotiated the sale of Woodlake Square, an 80,774-square-foot retail center located in the northern Dallas suburb of Carrollton. Woodlake Square was built on 6.7 acres in 1979 and renovated in 2019. Tenants at the property, which was 94 percent leased at the time of sale, include Harbor Freight Tools, LA Fitness and Dollar Tree. Philip Levy of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Levy also procured the buyer, a locally based 1031 exchange investor. Both parties involved in the deal requested anonymity.

December 20, 2021

Acquisitions Georgia Retail Southeast

Bridge33 Capital Disposes of Retail Center in Metro Atlanta for $8.7M

by Julia Sanders December 20, 2021

GAINESVILLE, GA. — Bridge33 Capital has sold Westbrook Plaza, a 49,364-square-foot retail center in the Atlanta suburb of Gainesville. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller in the transaction. Charlotte-based Collett Capital purchased the property for $8.7 million. Constructed in 2006 and anchored by Best Buy, Westbrook Plaza was fully leased at the time of sale to tenants including Burn Boot Camp, Mattress Firm, WNB Factory, Pazzi’s Pizza, Paris Nails and Pet Pleasers Bakery. Located at 668 Dawsonville Highway, the center is situated less than one mile from Lake Lanier, which provides an annual economic impact of over $5.5 billion.

December 20, 2021

Acquisitions Office Southeast Tennessee

NAI Charter Brokers $6.2M Sale of Office Building in Downtown Chattanooga

by Julia Sanders December 20, 2021

CHATTANOOGA, TENN. — NAI Charter has brokered the sale of an office building located at 505 Riverfront Parkway in downtown Chattanooga. Trident Transport, a Chattanooga-based freight brokerage and logistics business, purchased the office building for $6.2 million. Robert Maclellan of NAI Charter arranged the transaction. Previously occupied by hotel operator 3H Group, the 23,000-square-foot office property will serve as Trident Transport’s new headquarters as the company relocates from its current office on Chestnut Street. This year, Trident added about 150 people to its staff, and the company plans to hire approximately 125 more people next year.

December 20, 2021

Development Multifamily New Jersey Northeast

Accurate Builders & Developers Opens 234-Unit Apartment Community in Linden, New Jersey

by Taylor Williams December 20, 2021

LINDEN, N.J. — New Jersey-based Accurate Builders & Developers has opened Citizen Linden, a 234-unit apartment community that is located about 20 miles south of New York City in Union County. Designed by Thomas J. Brennan Architects, Citizen Linden includes 4,500 square feet of retail space and a 292-space parking garage. Units feature studio, one- and two-bedroom floor plans, and amenities include a fitness center, multiple coworking and conference rooms, a dog park, outdoor grilling and dining areas and a resident lounge with a demonstration kitchen. Rents start at $1,800 per month for a studio apartment.

December 20, 2021

Acquisitions Hospitality Michigan Midwest

Friedman Brokers Sale of Westin Book Cadillac Hotel in Downtown Detroit

by Kristin Harlow December 20, 2021

DETROIT — Friedman Real Estate has brokered the sale of the Westin Book Cadillac hotel in downtown Detroit. A joint venture between Oxford Capital Group LLC and Taconic Capital Advisors LP assumed debt owed by the previous owner, which faced foreclosure. The joint venture assumed $77 million in commercial mortgage-backed securities debt owed by Cleveland-based Ferchill Group, according to Crain’s Detroit Business. Located at 1114 Washington Blvd. within the city’s Washington Boulevard Historic District, the hotel rises 32 stories with 453 rooms. The property served as Detroit’s tallest building and the world’s tallest hotel when it opened as the Book-Cadillac hotel in 1924. The hotel was redeveloped and branded as Westin in 2008. The new ownership plans to make improvements to the common areas, amenities and guest rooms over the next two years. Jared Friedman of the brokerage negotiated the sale.

December 20, 2021

Illinois Industrial Leasing Activity Midwest

Two Tenants Sign Industrial Leases Totaling 177,161 SF at New Development in Glendale Heights, Illinois

by Kristin Harlow December 20, 2021

GLENDALE HEIGHTS, ILL. — Clyde’s Donuts and Advanced Technical Services (ATS) have pre-leased space at Army Trail Trade Center in Glendale Heights, a western suburb of Chicago. Mike Antonelli and Dan Brown of Brown Commercial Group represented the development’s owner, ML Realty Partners. Clyde’s Donuts pre-leased a 153,000-square-foot facility at 85 West Army Trail Road. ATS pre-leased 24,161 square feet at 55 West Army Trail Road. Kelly Disser and Michael Freitag of NAI Hiffman represented Clyde’s, while Bill Lussow and Matt Kelly of Bespoke represented ATS. A timeline for occupancy was not provided.

December 20, 2021

Acquisitions Industrial New Jersey Northeast

EverWest Real Estate Buys Three Industrial Buildings in Moonachie, New Jersey for $65.8M

by Taylor Williams December 20, 2021

MOONACHIE, N.J. — Denver-based EverWest Real Estate Investors has purchased three industrial buildings totaling 190,032 square feet in Moonachie, located in Bergen County, for $65.8 million. The buildings at 135, 137-141 and 170 W. Commercial Ave. feature a combined 26 loading positions and 243 parking spaces and are fully leased to Loomis Armored US, Paris Baguette and Toy Wonders. Gary Gabriel, Kyle Schmidt, David Bernhaut and Seth Zuidema of Cushman & Wakefield represented the undisclosed seller in the transaction. Stephen Feinberg handled the transaction for EverWest on an internal basis.

December 20, 2021

Acquisitions Illinois Midwest Multifamily

Marcus & Millichap Arranges $17.1M Sale of Multifamily Property in Chicago

by Kristin Harlow December 20, 2021

CHICAGO — Marcus & Millichap has arranged the sale of The Erikson in Chicago’s Lakeview neighborhood for $17.1 million. The 36-unit multifamily property is located at 3728 N. Lake Shore Drive. Residents have access to 36 parking spaces and a rooftop deck. Kyle Stengle of Marcus & Millichap arranged the sale. Buyer and seller information was not provided.

December 20, 2021

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