Property Type

Affordable Housing Investment Brokerage Arranges $10.4M Sale of Indiana Portfolio

by Kristin Harlow June 3, 2020

GARY, IND. — Affordable Housing Investment Brokerage Inc. has arranged the $10.4 million sale of a 14-building, 249-unit affordable housing portfolio in Gary, about 30 miles southeast of Chicago. All 14 buildings are located within a one-mile radius, with most situated along West 5th Avenue. The portfolio comprises 106 one-bedroom units, 110 two-bedroom units and 33 studio units. All units are covered under a housing assistance payments (HAP) contract that expires in January 2024. Rents range from $836 to $1,021 per month. Kyle Shoemaker of Affordable Housing Investment Brokerage represented the buyer and seller, both of which were private investors.

June 3, 2020

Acquisitions Iowa Midwest Multifamily Seniors Housing

SVN Chicago Commercial Brokers $2.8M Sale of Seniors Housing Property in Northern Iowa

by Kristin Harlow June 3, 2020

MASON CITY, IOWA — SVN Chicago Commercial has brokered the $2.8 million sale of Grant Village in Mason City in northern Iowa. The 64-unit affordable seniors housing property is located at 815-843 6th St. The property has a Section 8 contract with HUD, meaning tenants make a monthly contribution toward rent equal to 30 percent of their adjusted income. Cody Doran and Reid Bennett of SVN brokered the sale. A private buyer purchased the asset at the full asking price.

June 3, 2020

Leasing Activity Michigan Midwest Retail

Pet Supplies Plus to Open at Former Pier 1 Imports Store in Western Michigan

by Kristin Harlow June 3, 2020

HOLLAND, MICH. — Pet Supplies Plus will open at a former Pier 1 Imports store in Holland in western Michigan. The 9,000-square-foot space is located at Tolson Enterprise’s North Park Plaza shopping center, which is home to Walmart and Sam’s Club. Larry Siedell and Tjader Gerdom of Gerdom Realty & Investment, along with Bialow Real Estate, represented Pet Supplies Plus in the new lease.

June 3, 2020

Loans Multifamily Texas

Mason Joseph Provides $41.2M HUD Construction Loan for San Antonio Apartment Project

by Taylor Williams June 3, 2020

SAN ANTONIO — Mason Joseph Co. Inc., a San Antonio-based multifamily lender, has provided $41.2 million in construction and permanent financing for Culebra Commons, an apartment project that will be located off Loop 1604 on the city’s west side. The community will feature 327 units across seven three-story buildings and various Class A amenities. The nonrecourse loan was secured through HUD’s 221(d)(4) program and carries a fixed interest rate for the 28-month construction period and subsequent 40-year term. The borrower is a partnership between locally based development firm LYND Co. and T.R. Inscore LLC. Construction is scheduled to begin later this month.

June 3, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 101-Site RV Park in Azle, Texas

by Taylor Williams June 3, 2020

AZLE, TEXAS — Marcus & Millichap has brokered the sale of Flat Rock Road RV Park, a 101-site property located in Azle, located northwest of Fort Worth. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity. The deal closed at a sales price that was originally negotiated before the COVID-19 outbreak, according to Denninger.

June 3, 2020

Acquisitions Multifamily Seniors Housing Texas

Best Personal Care Sells 15,610 SF Assisted Living Facility in Houston

by Taylor Williams June 3, 2020

HOUSTON — Best Personal Care LLC, a behavioral health assisted living operator, has sold its 15,610-square-foot facility located at 7741 Tanglewilde St. in Houston. The property is located on the city’s southwest side and features 46 licensed beds. Elena Bakina of Colliers represented Best Personal Care in the transaction. Richard Copeland of Keller Williams Commercial represented the buyer, Ocean 4 LLC.

June 3, 2020

Development Industrial Nevada Western

Dermody Properties Purchases 9.5-Acre Site for LogistiCenter at Sunset in Las Vegas

by Amy Works June 3, 2020

LAS VEGAS — Dermody Properties has acquired a 9.5-acre land site for the development of LogistiCenter at Sunset. Situated at Sunset Road and Bruce Street in Las Vegas, the 151,200-square-foot, e-commerce-ready property is slated for completion in first-quarter 2021. Currently under construction, the building will be divisible to 20,000 square feet and offer build-to-suit office space, 33 dock-high doors, six drive-in doors, 32-foot clear heights, a 135-foot truck court, LED warehouse lighting, tilt-up concrete panel construction and an ESFR fire protection system. LogistiCenter at Sunset will be located approximately one mile from the Interstate 215/Interstate 15 interchange, five miles from the Resort Corridor and within 10 miles of major FedEx and UPS distribution hubs. Additionally, the facility will be adjacent to McCarran International Airport. Kevin Higgins, Garrett Toft, Jake Higgins and Sean Zaher of CBRE represented Dermody in the land acquisition and will be the leasing agents for the completed project. The name of the seller and acquisition price were not released.

June 3, 2020

Acquisitions Arizona Office Western

CBRE Negotiates $7.6M Sale of Single-Tenant Office Building in Phoenix’s Deer Valley Submarket

by Amy Works June 3, 2020

PHOENIX — CBRE has brokered the sale of a single-tenant office building located at 16212 N. 28th Ave. in Phoenix’s Deer Valley submarket. Merit Properties Group sold the asset to a fund managed by a Chicago-based investment management firm for $7.6 million. Barry Gabel, Chris Marchildon and Will Mast of CBRE’s Phoenix office represented the seller in the deal. Situated on 3.8 acres, the 61,304-square-foot property has been fully leased to a government entity since 2004. The building was constructed in 1980 and extensively renovated in 2004, with numerous specialized tenant improvements.

June 3, 2020

Acquisitions California Industrial Western

Toy Company Buys Inland Empire Industrial Building for $7.6M

by Amy Works June 3, 2020

RANCHO CUCAMONGA, CALIF. — A toy company has purchased a freestanding industrial property located at 9568 Richmond Place in Rancho Cucamonga. A private seller sold the asset for $7.6 million. Built in 1991, the 42,978-square-foot building features 24-foot clear heights, five dock-high loading doors, one ground-level door and 76 parking spaces. Additionally, the property features a two-story, 7,563-square-foot office space. Jason Chao and Charlie Noebel of CBRE represented the seller in the transaction.

June 3, 2020

Acquisitions Colorado Industrial Western

Dalfen Industrial Acquires 75,000 SF Aurora Center I at Gateway Near Denver International Airport

by Amy Works June 3, 2020

AURORA, COLO. — Dalfen Industrial has purchased Aurora Center I at Gateway, an industrial property located near Interstate 70 and intermodal facilities in Aurora, between downtown Denver and the Denver International Airport. Built in 2003, the 75,000-square-foot asset features a fully gated secured truck court and 12 dock-high doors. Additionally, the property features unpaved land on the east side of the building that could be used as yard, additional trailer parking or as a potential 30,000-square-foot building expansion. Terms of the transaction, including the name of the seller and acquisition price, were not released.

June 3, 2020

Newer Posts

Older Posts