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Brakes-Plus-Portfolio-CO
AcquisitionsColoradoNet LeaseRetailWestern

Marcus & Millichap Arranges $6.9M Sale of Three-Property Brakes Plus Retail Portfolio in Colorado

by Amy Works

AURORA AND HIGHLANDS RANCH, COLO. — Marcus & Millichap has arranged the sale of a three-building retail portfolio in Colorado. Chi Chis of Colorado Springs LLLP sold the portfolio to The Kathleen Ann Ross Trust, a local private capital investor, for $6.9 million. The properties are located at 16770 E. Iliff Ave. and 24550 E. Smoky Hill Road in Aurora and 9297 S. Broadway in Highlands Ranch. Brakes Plus occupies each building and all three properties have 17 years remaining on the primary term of their absolute triple-net leases. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller in transaction.

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N-137th-Ave-W-Auto-Dr-Goodyear-AZ
AcquisitionsArizonaIndustrialWestern

DAUM Negotiates Purchase of Two Industrial Buildings Near Phoenix for $4.9M

by Amy Works

GOODYEAR, ARIZ. — DAUM Commercial Real Estate Services has arranged the acquisition of two industrial properties totaling nearly 36,500 square feet in Goodyear, a western suburb of Phoenix. A private investor acquired both buildings for a total of $4.9 million. The two properties feature warehouse and office space, truck wells, grade-level doors, PAD zoning, fenced yards and at least 20-foot clear heights. The assets are located at the intersection of North 137th Avenue and West Auto Drive in Palm Valley Crossing, a larger development that Hopewell Development completed earlier this year. Trevor McKendry and Chris Rogers of DAUM’s Phoenix office represented the buyer in the deal.

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15511-Carmenita-Rd-Santa-Fe-Springs-CA
AcquisitionsCaliforniaIndustrialWestern

Valore Ventures Sells 28,542 SF Flex Facility in Santa Fe Springs, California

by Amy Works

SANTA FE SPRINGS, CALIF. — Valore Ventures has completed the disposition of a flex industrial property located at 15511 Carmenita Road in Santa Fe Springs. An Orange County, Calif.-based private investor acquired the asset for an undisclosed price. Built in 1998, the 28,542-square-foot property features 11,437 square feet of office space spanning two floors and 17,105 square feet of one-story industrial warehouse space with 22-foor clear heights at the rear of the building. Additionally, the asset offers a gated parking lot, two drive-in doors and two grade-level doors. At the time of sale, the property was fully leased. Peter Bauman of Marcus & Millichap Phoenix represented the seller, Kenny De Angelis of Valore Ventures, in the deal.

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17652-Penn-Valley-Dr-Penn-Valley-CA
AcquisitionsCaliforniaNet LeaseRetailWestern

Coldwell Banker Brokers $2.9M Acquisition of Dollar General-Occupied Property in Penn Valley, California

by Amy Works

PENN VALLEY, CALIF. — Coldwell Banker Commercial has arranged the acquisition of a retail property located at 17652 Penn Valley Drive in Penn Valley. An undisclosed buyer purchased the building for $2.9 million. Dollar General occupies the 9,026-square-foot building, which was built in 2019 on 1.2 acres, on a long-term, absolute net-leased basis. Dan McGue of Coldwell Banker Commercial NRT represented the buyer in the deal. The name of seller was not released.

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100-claremont-nyc
DevelopmentMixed-UseNew YorkNortheast

Lendlease, L+M Development Secure Equity Partner for 42-Story Mixed-Use Project in Manhattan

by Taylor Williams

NEW YORK CITY — A partnership between Australian multinational developer Lendlease and New York-based L+M Development Partners has secured Daiwa House Texas Inc. as a new equity partner for the development team’s 42-story mixed-use tower in Manhattan’s Morningside Heights area. Daiwa House Texas is a U.S. subsidiary of Daiwa House Industry Co., Japan’s largest homebuilder that is pursuing an initiative to expand across the United States. The project, which will be located at 100 Claremont Ave., will feature 165 residential condominiums, 54,000 square feet of academic space for the Union Theological Seminary and 49,000 square feet of faculty housing. Completion is slated for spring 2023.

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Pleasant-View-Pennsylvania
LoansMultifamilyNortheastPennsylvaniaSeniors Housing

Ziegler Arranges $53M Construction Loan for Seniors Housing Expansions in Pennsylvania

by Taylor Williams

MANHEIM AND LITITZ, PA. — Ziegler has arranged a $53 million construction loan for two seniors housing expansion projects in Pennsylvania. The first project, West Lawn Apartments, will consist of two buildings containing 18 independent living units located on Pleasant View’s existing continuing care retirement community in the South Central Pennsylvania borough of Manheim. This community was originally built in 1954 and features 152 independent living apartments and cottages, 95 personal care units and 115 skilled nursing beds. The second project, the Lofts at Lititz, will consist of 32 independent living units on the site of the historic Wilbur Chocolate Factory in downtown Lititz, a neighboring town. The borrower was Pleasant View Communities.

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AcquisitionsNortheastOfficePennsylvania

A&E Real Estate Sells 60,728 SF Office Building Near Philadelphia

by Taylor Williams

UPPER DARBY, PA. — A&E Real Estate has sold a 60,278-square-foot office building located at 6800-6816 West Chester Pike in Upper Darby, located about five miles west of downtown Philadelphia. The property, which was originally built in 1929, is located across the street from the SEPTA 69th Street transit station and features a two-story atrium with a surrounding balcony corridor. Michael Barmash, Despina Belsemes and Eric Grad of Colliers International represented A&E Real Estate in the transaction. The buyer was not disclosed.

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Leasing ActivityNew YorkNortheastOffice

Transwestern Negotiates 14,889 SF Office Lease in Brooklyn

by Taylor Williams

NEW YORK CITY — Transwestern has negotiated a 14,889-square-foot office lease at 626 Sheepshead Bay Road in Brooklyn. Stephen Powers, Lindsay Ornstein, Thomas Hines and Jake Cinti of Transwestern represented the tenant, Selfhelp Community Services, in the lease negotiations. David Ofman of The Lawrence Group represented the landlord, Cammeby’s International.

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AcquisitionsMultifamilyNew YorkNortheast

Westbridge Brokers $1.1M Sale of Residential Development Site in Brooklyn

by Taylor Williams

13,556-square-foot residential development site at 3602 Holland Ave. in the Williamsburg neighborhood of Brooklyn. The property is zoned for the development of a 20-unit multifamily building. Menachem Babayov of Westbridge Realty represented the buyer, SHG 3602 LLC, and Steven Westreich represented the seller, Chukwuemeka Dike.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 488,571 SF Industrial Building in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 488,571-square-foot industrial building located at 601-605 Kingsland Drive in Batavia. The purchase price was undisclosed. The building is fully leased to two tenants. Constructed in 1996, the property was expanded in 2002. It sits on 26.9 acres and features 25 exterior docks, three drive-in doors and parking for 414 cars. There is an additional 7.3 acres on the site that can accommodate more car parking, truck parking or a 132,737-square-foot building expansion. Jeff Devine and Steve Disse of Colliers International represented the undisclosed seller. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.

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