Property Type

Newport Capital Partners Acquires 160,792 SF Colonial Oaks Shopping Center in Orlando

by John Nelson July 30, 2021

ORLANDO, FLA. — Newport Capital Partners has acquired West Colonial Oaks, a 160,792-square-foot, grocery-anchored shopping center situated on the southwest corner of West Colonial Drive and North Hiawassee Road in Orlando. Newport Capital acquired the property via its Newport Capital Partners Fund III. The property was sourced and acquired off-market from a private investor. Newmark arranged acquisition financing through Ameris Bank. The seller and sales price were not disclosed. West Colonial Oaks is currently 94 percent leased and its largest tenant is national discount retailer Ollie’s Bargain Outlet. The property’s other tenants include Fancy Fruit & Produce, Office Depot, Crazy Buffet, Family Dollar, Olive Garden and Optum Primary Care. The shopping center is shadow-anchored by The Home Depot and is also close to employment and education drivers including Valencia College, Orlando Health Central Hospital and the Seaboard Industrial neighborhood, which is home to Amazon’s 1.1 million-square-foot distribution center.

July 30, 2021

Acquisitions Multifamily Southeast Virginia

JLL Facilitates Sale of 333-Unit Alexan Earl Apartments in Arlington, Virginia

by John Nelson July 30, 2021

ARLINGTON, VA. — JLL Capital Markets has facilitated the sale of Alexan Earl, a 333-unit multifamily community in Arlington. Walter Coker, Brian Crivella, Robert Jenkins and Bill Gribbin of JLL represented the seller, Trammell Crow Residential, which also had an equity partner. Lincoln Property Co. and Cadillac Fairview acquired the property for an undisclosed price. Additionally, Michael Cosby, Jimmy Conley, Jamie Leachman and Andy Scott of JLL secured a five-year, floating-rate acquisition loan through Mesa West Capital LLC. Alexan Earl features studio, one- and two-bedroom residential units averaging 827 square feet across two buildings. The property also features 3,396 square feet of retail space. Units include quartz countertops, undercabinet lighting, movable and fixed islands, undermount sinks, hard wood inspired laminate tile flooring, custom closets, stainless steel appliances and washers and dryers. Community amenities include a rooftop pool with an indoor/outdoor bar, ground-level courtyard, two fitness centers, social clubroom, complimentary Wi-Fi in all shared spaces, 24/7 concierge services and coworking space. Located off Wilson Boulevard at 1122 North Hudson St., Alexan Earl is located within walking distance of the Clarendon Metro Station.

July 30, 2021

Acquisitions District of Columbia Multifamily Southeast

Greysteel Arranges $11.5M Sale of Multifamily Community in D.C.

by John Nelson July 30, 2021

WASHINGTON, D.C. — Greysteel has arranged the $11.5 million sale of The Verona, a 67-unit multifamily property located at 5601 13th St. NW in northwest D.C. Built in 1955, The Verona is located in the 16th Street Heights neighborhood of D.C.’s Ward 4. Community amenities include a pet park and nearby public transportation. Kyle Tangney and Herb Schwat of Greysteel represented the buyer in the transaction. The seller was not disclosed.

July 30, 2021

Acquisitions Georgia Retail Southeast

Stan Johnson Co. Brokers $3.2M Sale of Windward Square Shopping Center in Metro Atlanta

by John Nelson July 30, 2021

ALPHARETTA, GA. — Stan Johnson Co. has brokered the sale of Windward Square, a 11,166-square-foot shopping center located at 5215 Windward Parkway in the northern Atlanta suburb of Alpharetta. Jeff Enck of Stan Johnson Co. represented the 1031 exchange buyers, a group of private investors based in Georgia. Penn Hodge Properties sold the property for more than $3.2 million. Windward Square was fully leased to six tenants at the time of sale, including Verizon Wireless and Eye Level Learning Center. Originally constructed in 2003, the center is shadow-anchored by Costco and has other neighboring tenants including The Home Depot and Walmart. The property fronts Windward Parkway and is situated on nearly 1.6 acres.

July 30, 2021

Development Midwest Multifamily Ohio

National Real Estate Advisors, White Oak Realty Break Ground on 23-Story Apartment Tower in Cleveland

by Kristin Harlow July 30, 2021

CLEVELAND — National Real Estate Advisors LLC and White Oak Realty Partners have broken ground on a 23-story luxury apartment tower in Cleveland’s University Circle neighborhood. Known as Artisan Circle Square, the property is being developed in partnership with Midwest Development Partners. Amenities at the 298-unit project will include a fitness center, events room, media room, dog run, rooftop pool deck, grilling stations and coworking spaces. Chicago-based FitzGerald designed the project. Completion is slated for 2022.

July 30, 2021

Acquisitions Indiana Industrial Midwest

Livingston Street Capital Sells Indiana Industrial Facility for $55.3M

by Kristin Harlow July 30, 2021

COLUMBUS, IND. — Livingston Street Capital has sold a 393,817-square-foot industrial facility in Columbus, about 45 miles south of Indianapolis. Bridge Investment Group purchased the asset for $55.3 million. Faurecia Emissions Control Technologies USA LLC, part of the Faurecia Clean Mobility Group, occupies the property on a net-lease basis. Jason DeWitt, Brian Shanfeld, Ed Halaburt, Nick Franklin and Steve Okon of JLL represented Livingston Street Capital, which acquired the facility in November 2018.

July 30, 2021

Acquisitions Illinois Midwest Multifamily

Two-Property Multifamily Portfolio Trades Hands in Alsip, Illinois, for $30.5M

by Kristin Harlow July 30, 2021

ALSIP, ILL. — A two-property multifamily portfolio totaling 300 units in Alsip, a southern suburb of Chicago, has traded hands for $30.5 million. The properties include the 156-unit Orchard Estates Apartments and the 144-unit Woodland Courts Apartments. Both were built in the early 1970s. Sean Connelly and George Kokkonas of 33 Realty represented the New York-based buyer, who plans to renovate and modernize the complexes. Tara Mathew of Prime Equities Corp. represented the undisclosed seller.

July 30, 2021

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale-Leaseback of Four-Building Industrial Portfolio in Melrose Park, Illinois

by Kristin Harlow July 30, 2021

MELROSE PARK, ILL. — Colliers International has arranged the sale-leaseback of a four-building industrial portfolio spanning 149,454 square feet in Melrose Park, a suburb of Chicago. Mike Senner and Tom Rodeno of Colliers represented the seller, Promus Equity Partners LLC, which recently led an investment in Caputo Cheese’s brand and business. The buildings are all located on the same street and are utilized for Caputo’s manufacturing, processing, distribution and storage. STORE Capital purchased the portfolio for an undisclosed price. Caputo signed a 20-year lease.

July 30, 2021

Acquisitions Illinois Midwest Office

SVN Brokers $5.9M Sale of Office Building in Chicago

by Kristin Harlow July 30, 2021

CHICAGO — SVN | Chicago Commercial has brokered the sale of a 29,500-square-foot office building in Chicago’s Streeterville neighborhood for $5.9 million. Located at 232 E. Ohio St., the four-story property served as the original home of the Playboy Organization. It is now home to CRC Recording Studio, which occupies more than half of the building. Wayne Caplan of SVN represented the undisclosed seller. An entity controlled by restauranteur Phil Chen was the buyer. SVN expects the new owner to renovate the property in the near term.

July 30, 2021

Acquisitions Colorado Multifamily Western

Carmel Partners Divests of 403-Unit The Henry Multifamily Complex in Denver

by Amy Works July 30, 2021

DENVER — Carmel Partners has arranged the sale of The Henry, an apartment community located at 201 Mississippi Ave. in Denver’s Platt Park neighborhood. Terms of the transaction were not released. Carmel Partners was the developer, builder and owner of The Henry, which opened in October 2018. Situated on four acres, the community features 403 apartments, a courtyard with resort-style pool and spa, alfresco dining areas, co-working space, a fitness center, yoga studio and a 3,400-square-foot bicycle repair and locker space. At the time of sale, The Henry was 96 percent occupied.

July 30, 2021

Newer Posts

Older Posts