Property Type

JLL Brokers $10.6M Sale of Three Retail Pads at Vista Terrace Marketplace in Vista, California

by Amy Works December 15, 2020

VISTA, CALIF. — JLL has arranged the sale of a portion of Vista Terrace Marketplace, a retail property in Vista. Black Lion Investment Group sold the asset to an undisclosed buyer for $10.6 million. The transaction included three retail pads occupied by O’Reilly Auto Parts, Dunkin Donuts, AT&T and Verizon Wireless. Daniel Tyner and Gleb Lvovich of JLL represented the seller in the transaction. Brian Pyke and Connor Stevens of Retail Insite handle the leasing on behalf of the owner. Black Lion still owns two pad site and the anchor building at the retail center.

December 15, 2020

Acquisitions Arizona Office Western

CBRE Negotiates $2.8M Sale of Office Property in Phoenix

by Amy Works December 15, 2020

PHOENIX — CBRE has brokered the sale of an office building located at 4203 E. Indian School Road in Phoenix’s Acardia neighborhood. A group of private local investors acquired the asset for $2.8 million. Built in 1984 and renovated in 2015, the 18,000-square-foot property features 64 parking spaces. The site is in proximity to Loop 202, Loop 101 and Interstate 10. Geoff Turbow, Matt Pourcho, Anthony DeLorenzo, Gary Statch, Sean Spellman, Corey Hawley and Jimmy Cornish of CBRE represented the undisclosed seller, while the buyer was self-represented in the deal.

December 15, 2020

Development Massachusetts Multifamily Northeast

Toll Brothers Completes 112-Unit Multifamily Project in Belmont, Massachusetts

by Taylor Williams December 15, 2020

BELMONT, MASS. — Apartment developer Toll Brothers Inc. has completed The Bradford, a 112-unit multifamily project that includes 38,000 square feet of retail space in Belmont, located east of Boston. The three-building complex is located at 525 Common St. near the Waverly Commuter Rail station. The Bradford’s unit mix consists of nine studios, 47 one-bedrooms and 56 two-bedrooms that are furnished with stainless steel appliances, quartz countertops and walk-in closets. Amenities include a rooftop deck with grills and fire pits, a resident lounge and a library room. Peter Quinn Architects designed the project, and Nauset Construction served as the general contractor.

December 15, 2020

Acquisitions Multifamily Northeast Pennsylvania Student Housing

Rittenhouse Arranges Sale of 272-Bed Student Housing Portfolio in Philadelphia

by Taylor Williams December 15, 2020

PHILADELPHIA — Rittenhouse Realty Advisors has arranged the sale of a 272-bed student housing portfolio in Philadelphia. The portfolio consists of five buildings totaling 106 units that serve the University of Pennsylvania, Drexel University and Temple University. The portfolio features a mix of newly constructed buildings and value-add assets. The buyer and seller were not disclosed.

December 15, 2020

Development New Jersey Northeast Retail

Lidl Opens 30,000 SF Grocery Store in Bayonne, New Jersey

by Taylor Williams December 15, 2020

BAYONNE, N.J. — German discount grocer Lidl has opened a 30,000-square-foot store within Harbor Point Marketplace in the Northern New Jersey city of Bayonne. Larry Anderson, Steve Durak and Dina Santarelli of Sabre Real Estate Advisors LLC, the national retail advisory practice of the Sabre real estate group of companies, represented Lidl in its site selection and acquisition of the land. The grand opening took place on Nov. 18.

December 15, 2020

Acquisitions Industrial Massachusetts Northeast

Oliver Street, Bain Capital Buy Industrial Building Near Downtown Boston for $15M

by Taylor Williams December 15, 2020

BOSTON — A partnership between locally based investment firm Oliver Street Capital and Bain Capital Real Estate has purchased a 113,000-square-foot industrial building located at 44-48 Garden St. near downtown Boston. The sales price was $15 million. The property is situated on 3.4 acres near Encore Casino and Boston-Logan International Airport and contains both warehousing and light industrial space. The seller was not disclosed.

December 15, 2020

Acquisitions Industrial New Jersey Northeast

Sitex Group Acquires 30,000 SF Warehouse in Carlstadt, New Jersey

by Taylor Williams December 15, 2020

CARLSTADT, N.J. — Sitex Group, an investment and development firm focused on the Tri-State area, has acquired a 30,000-square-foot warehouse in the Northern New Jersey city of Carlstadt. The property, which is currently vacant, features 20-foot clear heights, two loading docks and 3,000 square feet of office space. Jeff Chaus of Chaus Realty brokered the deal and has been retained to lease the building.

December 15, 2020

Acquisitions California Company News New Jersey Northeast Retail Top Stories Western

Bed Bath & Beyond Agrees to Sell Cost Plus World Market to Private Equity Firm, Including 243 Stores

by John Nelson December 15, 2020

UNION, N.J. AND LOS ANGELES — Bed Bath & Beyond Inc. (NASDAQ: BBBY) has agreed to sell Cost Plus World Market, a specialty retail chain that sells home furniture, décor and international food products. The buyer, Los Angeles-based private equity firm Kingswood Capital Management, expects to continue operations under the Cost Plus World Market banner. The purchase agreement includes 243 brick-and-mortar locations, the World Market digital business, two distribution facilities and a corporate office located in Alameda, Calif. Both companies have agreed to a transition services agreement (TSA) following the close of the transaction to help ensure business continuity. The sales price was not disclosed. Cost Plus World Market opened its first store in 1958 on San Francisco’s famous Fisherman’s Wharf. Today the company operates stores in 39 states coast to coast, as well as one in Washington, D.C. Bed Bath & Beyond acquired Cost Plus World Market in 2012. The transaction is scheduled to close prior to the end of Bed Bath & Beyond’s fiscal year on Feb. 27, 2021, and is subject to customary closing conditions. Advisors to Bed Bath & Beyond on this transaction included B. Riley Securities Inc. and Bryan Cave. In addition to the sale …

December 15, 2020

Development Leasing Activity Multifamily Utah Video Webinar Western

Webinar: What will Salt Lake City Multifamily Activity Look Like in 2021?

by Sarah Daniels December 14, 2020

The Dec. 7, two-part webinar “What will Salt Lake City Multifamily Activity Look Like in 2021?“, hosted by Western Real Estate Business, allowed industry experts to discuss development pipeline, investor appetite and trends in the apartment sector. Watch for an in-depth discussion from the first panel on broker/lender thoughts on pricing, timing for investment and trends in the multifamily market. The second panel is devoted to analysis from developers, covering perspectives on design, technical considerations and financial concerns. What can Salt Lake City brokers and developers expect in 2021? See below for a list of some important topics covered. Panel One: Broker/Lender Insight Valuations Equity Permanent market impacts from COVID-19 Lender underwriting Cooperation from municipalities Panel Two: Developer Insight Tenants moving into Utah Location hotspots for developers Occupancy rates Opportunity zones Unit size and style considerations Development Panel: Ronda Landa, First American Title (moderator) Ben Clifford, Keystone National Group Eli Mills, CBRE Rawley Nielsen, Colliers International/Utah Matt Gneiting, Gneiting Capital Kip Paul, Cushman & Wakefield Investment Panel: B.J. Laterveer, Dwell Design (moderator) Ben Lowe, Lowe Property Group Joe Baum, Hicap Management Stephen Alfandre, Urban Alfandre Thomas Vegh, SALT Development Marc Venegas, Orion Real Estate Partners Webinar sponsors: Gneiting Capital: …

December 14, 2020

Development District of Columbia Office Southeast

Stonebridge, Rockefeller to Redevelop 400,000 SF Office Building in D.C.

by Alex Tostado December 14, 2020

WASHINGTON, D.C. — Stonebridge and Rockefeller Group will redevelop the Jackson Graham Building, a 400,000-square-foot office property in Washington, D.C.’s Penn Quarter district. Redevelopment costs are expected to total more than $300 million. The building currently serves as the Washington Metropolitan Area Transit Authority’s (WMATA) headquarters. The development team expects to break ground on the project in 2023, allowing WMATA to remain at the site through 2022. Upon completion, which is slated for 2025, WMATA will not return to the space. However, WMATA will continue to own the land, which Stonebridge and Rockefeller will control on a 99-year ground lease. The Jackson Graham Building has served as WMATA’s headquarters since 1974. The asset is situated at 600 Fifth St. NW, between the White House and U.S. Capitol Building. The office building will feature a rooftop deck and a penthouse conference center.

December 14, 2020

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