Property Type

SPI Hospitality Buys Five-Property Woodspring Suites Hotel Portfolio in Washington for $88M

by Amy Works November 2, 2021

REDMOND, TUKWILA, RICHLAND, LAKEWOOD AND VANCOUVER, WASH. — Dallas-based SPI Hospitality has acquired five Woodspring Suites properties in Washington for a total of $88 million. West77 Partners sold the portfolio for $88 million. The 596-room, extended-stay hotel portfolio includes Woodspring Suites Redmond at 7045 180th Ave. NE in Redmond, Woodspring Suites Tukwila at 15637 W. Valley Highway in Tukwila, Woodspring Suites Richland at 1370 Tapteal Drive in Richland, Woodspring Suites Lakewood at 11329 Pacific Highway in Lakewood and Woodspring Suites Vancouver at 200 NE 104th Ave. in Vancouver. The Redmond and Tukwila properties were completed in 2018, the Richland and Lakewood assets opened in late 2020 and the Vancouver hotel is slated to open in November. Matthew Behrens, Chris Burdett and Jordan Caudill of CBRE Hotels represented the seller in the transaction.

November 2, 2021

Acquisitions California Industrial Western

CapRock Partners Divests of 210,156 SF Distribution Facility in San Diego’s Otay Mesa

by Amy Works November 2, 2021

SAN DIEGO — CapRock Partners has completed the disposition of a newly renovated distribution center located at 1855 Dornoch Court in San Diego’s Otay Mesa submarket. An investment firm acquired the property for an undisclosed price. CapRock completed several million dollars in capital improvements to the 210,156-square-foot building, which was originally built in the late 1980s. Situated on 10.6 acres, the facility features functional divisibility with a variety of bay sizes, 26- to 28-foot clear heights, grade- and dock-high loading doors, ESFR sprinkler systems and concrete truck courts. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield represented the seller in the deal. Brant Aberg of Cushman & Wakefield along with Joe Anderson and Andy Irwin of JLL provided market leasing advisory.

November 2, 2021

California Development Multifamily Seniors Housing Western

Kendal Corp. Breaks Ground on 221-Unit Seniors Housing Community in Healdsburg, California

by Amy Works November 2, 2021

HEALDSBURG, CALIF. — San Francisco Zen Center and The Kendal Corp. have broken ground on Enso Village, a 221-unit seniors housing community in the Bay Area city of Healdsburg. The development will sit on approximately 16 acres of land in what is called the North Village. The community will feature a vegetarian restaurant, demonstration kitchen, indoor pool and gym, meditation hall and onsite farm for growing fresh produce for the restaurant. Weitz is building the project, which is scheduled for completion in 2023.

November 2, 2021

Acquisitions Industrial Washington Western

Marcus & Millichap Negotiates $14.2M Sale of Oakridge Business Park One in Redmond, Washington

by Amy Works November 2, 2021

REDMOND, WASH. — The Leibsohn Group of Marcus & Millichap has arranged the sale of Oakridge Business Park One, an industrial property in Redmond. A local investor acquired the property from an undisclosed seller for $14.2 million. Located at 17965 NE 65th St., Oakridge Business Park One features 41,900 square feet of industrial space. At the time of sale, the property was fully leased to a single tenant on a long-term lease. The buyer plans to eventually redevelop the asset. Brian Leibsohn and Raymond Vara of The Leibsohn Group in Marcus & Millichap’s Seattle office represented the seller and procured the buyer in the deal.

November 2, 2021

Acquisitions California Industrial Western

Dalfen Industrial Acquires 80,527 SF Markham Distribution Center in Perris, California

by Amy Works November 2, 2021

PERRIS, CALIF. — Dalfen Industrial has purchased Markham Distribution Center, an industrial property located at 212 Markham St. in Perris. Terms of the transaction were not released. The 80,527-square-foot property was built in 2019. The acquisition is the eighth West Coast purchase Dalfen has made in the past seven months.

November 2, 2021

Development Industrial New Jersey Northeast

Duke Realty Breaks Ground on 267,575 SF Cold Storage Project in Woodbridge, New Jersey

by Taylor Williams November 2, 2021

WOODBRIDGE, N.J. — Indianapolis-based Duke Realty Corp. (NYSE: DRE) has broken ground on a 267,575-square-foot, build-to-suit cold storage project in the Northern New Jersey community of Woodbridge for FreezPak Logistics. The facility will consist of roughly 209,500 square feet of freezer space, a 45,760-square-foot cool dock and another 12,000 square feet of office space. The construction plan includes a clear height of 67 feet in the freezer and 30 feet in the cool dock area, as well as 34 dock doors, 70 trailer spaces and 167 automobile parking spaces. David Gheriani, William Waxman, Mindy Lissner and Kevin Dudley with CBRE, along with internal representative Ben Rosen, represented Duke Realty in the lease negotiations with FreezPak.

November 2, 2021

Acquisitions Industrial New Jersey Northeast

EverWest Acquires Industrial Property in Somerset, New Jersey for $27.7M

by Taylor Williams November 2, 2021

SOMERSET, N.J. — Denver-based EverWest Real Estate Investors has acquired a 125,790-square-foot industrial property in the Northern New Jersey community of Somerset for $27.7 million. Joel Lubin, John Buckley and Gary Politi of JLL, along with internal agent Stephen Feinberg, negotiated the deal on behalf of EverWest. The seller was Citgen Realty LLC. The Class A property was fully leased to drug developer Rising Pharma Holdings Inc. at the time of sale.

November 2, 2021

Affordable Housing Loans Multifamily New York Northeast Seniors Housing

Greystone Provides Two Agency Acquisition Loans Totaling $17.5M for NYC Seniors Housing Properties

by Taylor Williams November 2, 2021

NEW YORK CITY — Greystone has provided two Fannie Mae acquisition loans totaling $17.5 million for a pair of affordable seniors housing properties totaling 151 units in the New York City area. In the first deal, Greystone originated a $12.4 million loan for Highland Avenue Senior Apartments, an 88-unit community in Yonkers that was built in 2008. In the second transaction, the company provided $5.1 million in acquisition financing for 2120 Hughes Avenue, a 63-unit property in The Bronx that was constructed in 1995. Dan Sacks and Ilan Bassali of Greystone originated the loans on behalf of the borrower, Heritage Affordable Communities LLC.

November 2, 2021

Acquisitions Industrial Northeast Pennsylvania

Marcus & Millichap Brokers $12M Sale of Harrisburg Industrial Property

by Taylor Williams November 2, 2021

HARRISBURG, PA. — Marcus & Millichap has brokered the $12 million sale of a 927,828-square-foot industrial property in Harrisburg. The complex consists of eight buildings on a 21.3-acre site that are leased to tenants including PP&L Electric Utilities Corp., Capital Building Supply, Martin Logistics and Midwest Transport Inc. Craig Dunkle, Chad Thomason and Mher Vartanian of Marcus & Millichap represented the seller and buyer, both of which were limited liability companies that requested anonymity, in the deal. Sean Beuche of Marcus & Millichap assisted in closing the transaction as the broker of record.

November 2, 2021

Acquisitions Healthcare New Jersey Northeast

Colliers Negotiates Sale of 30,000 SF Medical Office Building in Edison, New Jersey

by Taylor Williams November 2, 2021

EDISON, N.J. — Colliers International has negotiated the sale of a 30,000-square-foot medical office building in Edison, located roughly midway between Newark and Trenton. At the time of sale, the property was 83 percent leased to five tenants. Kim Kretowicz of Colliers represented the undisclosed seller and procured the buyer, private equity real estate firm Thomas Park, in the transaction.

November 2, 2021

Newer Posts

Older Posts