Property Type

Harvill-Logistics-Center-Riverside-County-CA

CH Realty, Blumenfeld Development Buy Harvill Logistics Center in Inland Empire for $57.5M

by Amy Works September 28, 2021

PERRIS, CALIF. — Rockefeller Group has completed the disposition of Harvill Logistics Center, a newly constructed industrial property in the Riverside County city of Perris. CH/BDG Harvill LLC, a joint venture between CH Realty Partners and Blumenfeld Development Group, purchased the asset for $57.5 million. The building features 333,553 square feet of industrial space. Rockefeller Group acquired approximately 30 acres of property in Riverside County for the development of two projects totaling 623,109 square feet in September 2020. The second project, a 289,556-square-foot speculative distribution building, Val Verde Logistics Center, was recently completed. Herdman Architecture + Design designed the project and RM served as general contractor. Bill Heim and Alex Heim of Lee & Associates represented the seller, while Tom Taylor and Steve Bellitti of Colliers represented the buyer in the deal.

September 28, 2021

Acquisitions Multifamily Washington Western

Marcus & Millichap Negotiates $28.2M Sale of Multifamily Property in Kent, Washington

by Amy Works September 28, 2021

KENT, WASH. — Marcus & Millichap has arranged the sale of The Blvd, an apartment community in Kent. The property traded hands for $28.2 million. The names of the seller and buyer were not released. Situated on seven acres at 2138 S 272nd St., The Blvd features 136 apartments in a mix of 15 studio units, 69 one-bedroom units and 52 two-bedroom units. The property totals 106,850 square feet of net rentable area. George Miller of Marcus & Millichap represented the seller in the deal.

September 28, 2021

Acquisitions Arizona Industrial Office Western

Fullerton Properties Divests of 106,892 SF Chandler Business Center in Arizona

by Amy Works September 28, 2021

CHANDLER, ARIZ. — Fullerton Properties has completed the sale of Chandler Business Center, multi-tenant industrial/flex property in Chandler. Portland, Ore.-based ScanlanKemperBard acquired the asset for $19.1 million, or $178.68 per square foot. Situated on 10.6 acres at 6150 W. Chandler Blvd., the 106,892-square-foot property was fully leased at the time of sale. Commercial Properties/CORFAC International’s Leroy Breinholt, Cori Sposi and David Bean represented the seller and buyer in the transaction.

September 28, 2021

Acquisitions California Industrial Western

Rexford Industrial Sells Newton Corporate Center in Carlsbad, California to Elion Partners for $18.6M

by Amy Works September 28, 2021

CARLSBAD, CALIF. — Rexford Industrial has completed the sale of Newton Corporate Center, an industrial research and development property situated on 4.5 acres in Carlsbad. Elion Partners acquired the asset for $18.6 million. The 71,602-square-foot property is fully leased to four tenants with 2.8 years of weighted average lease term. Built in 1997 and renovated in 2009 and 2016, the property features 50 percent office space and 50 percent warehouse space. Bret Hardy, Sean Fulp, Sean Plummer and Mark Schuessler of Newmark represented the seller, while Greg Pieratt of Lee & Associates represented the buyer in the transaction.

September 28, 2021

Acquisitions Florida Mixed-Use Southeast

CBRE Negotiates $3.8M Sale of Capitol Mall in Palm Springs, Florida

by Julia Sanders September 28, 2021

PALM SPRINGS, FLA. — CBRE has facilitated the $3.8 million sale of Capitol Mall, a mixed-use property featuring a 23,698-square-foot, multi-tenant retail center and a 7,250-square-foot, multi-tenant warehouse building behind the retail stores. Located at 3745 South Congress Ave. in Palm Springs, the buyer was Capitol Mall LLC, a South Florida-based private investor. Congressional Developers Inc. was the seller. David Donnellan and Patricia Friend of CBRE represented the buyer in the transaction.

September 28, 2021

Development Illinois Industrial Midwest

The Atkins Group to Develop 635,400 SF Industrial Facility in Decatur, Illinois

by Kristin Harlow September 28, 2021

DECATUR, ILL. — The Atkins Group will develop a 635,400-square-foot industrial build-to-suit in the central Illinois town of Decatur. ARCO National Construction will serve as general contractor for the project, which is estimated to cost in excess of $41 million to build. AJ Thoma III of Coldwell Banker Commercial Devonshire Realty and Mike Dean of Cushman & Wakefield represented the undisclosed tenant in the build-to-suit lease, which spans seven years. Completion of the 43-acre project is slated for July 2022.

September 28, 2021

Development Indiana Midwest Multifamily Seniors Housing

Capitol Seniors Housing Breaks Ground on 164-Unit Active Adult Community Near Indianapolis

by Kristin Harlow September 28, 2021

NOBLESVILLE, IND. — Capitol Seniors Housing has broken ground on The Outlook at Hamilton Town Center, a 164-unit active adult community in Noblesville near Indianapolis. The 145,000-square-foot, four-story community will serve residents aged 55 and older. The property will be situated adjacent to Hamilton Town Center, an outdoor shopping, dining and entertainment destination. Amenities will include a pool, clubhouse, library, theater and fitness studio. Element Architects and Core Construction make up the project team. Completion is slated for early 2023.

September 28, 2021

Acquisitions Midwest Minnesota Multifamily

JLL Arranges $34M Sale of Apartment Property in Rochester, Minnesota

by Kristin Harlow September 28, 2021

ROCHESTER, MINN. — JLL Capital Markets has arranged the $34 million sale of Red44, a 159-unit apartment property in Rochester. Built in 2017, Red44 comprises studio, one- and two-bedroom units averaging 850 square feet. Amenities include a pool, rooftop lounge, patio area with grills, clubhouse, fitness center, dog run and heated underground parking. Mox Gunderson, Adam Haydon, Dan Linnell and Josh Talberg of JLL represented the sellers, Roers Investments, Reuter Walton Development and North Bay Cos. Champaign, Illinois-based Regency Multi-Family was the buyer.

September 28, 2021

Loans Midwest Multifamily Wisconsin

Dwight Capital Provides $22.7M HUD-Insured Loan for Refinancing of Wisconsin Apartment Complex

by Kristin Harlow September 28, 2021

FITCHBURG, WIS. — Dwight Capital has provided a $22.7 million HUD-insured loan for the refinancing of The Fairways Apartments in Fitchburg, a southern suburb of Madison. The 369-unit apartment complex is comprised of 14 buildings and is situated on Nine Springs Golf Course. Amenities include a pool, common areas and two tennis courts. Brandon Baksh of Dwight originated the loan, which benefited from a Green Mortgage Insurance Premium reduction set at 25 basis points because the property is Energy Star-certified. The borrower was undisclosed.

September 28, 2021

Acquisitions Illinois Industrial Midwest

Cushman & Wakefield Brokers $15M Sale of Redevelopment Site in Chicago’s Lincoln Park

by Kristin Harlow September 28, 2021

CHICAGO — Cushman & Wakefield has brokered the sale of 2032 N. Clybourn Ave. in Chicago’s Lincoln Park for $15 million. The site includes a 150,000-square-foot brick warehouse and adjacent land near the Lincoln Yards development. Eric Sorensen, Larry Goldwasser and Kathleen Nelson of Cushman & Wakefield represented the seller, Anixter Center, a nonprofit that serves the deaf and people with developmental disabilities or behavioral health needs. The buyer, an affiliate of Interra Realty, intends to redevelop the property.

September 28, 2021

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