Property Type

JLL Brokers $31.5M Sale of 148,805 SF Corona Hills Marketplace in Corona, California

by Amy Works August 23, 2019

CORONA, CALIF. — JLL has arranged the sale of Corona Hills Marketplace, a grocery-anchored community shopping center located in the Corona Hills neighborhood of Corona. A public REIT sold the property to a private investor for $31.5 million. Situated on 12.3 acres at 529-591 N. McKinley St., Corona Hills Marketplace features 148,805 square feet of retail space in California’s Riverside County. At the time of sale, the property was 98 percent leased to a mix of daily-needs and service-oriented tenants. Anchor tenants include Vons, PetSmart and Howard’s Appliances. Gleb Lvovich, Bryan Ley and Daniel Tyner of JLL Capital Markets represented the seller in the transaction.

August 23, 2019

Acquisitions California Retail Western

Beta Negotiates Sale of 37,346 SF Retail Building in Southern California

by Amy Works August 23, 2019

NEWBURY PARK, CALIF. — Beta, a California-based commercial real estate agency, has negotiated the sale of a retail building located at 3057 Grande Vista Drive in Newbury Park. AHS Property Inc. acquired the asset from Academy Road LLC. Although the price was not disclosed, the building was listed for $15 million. LA Fitness occupies the 37,346-square-foot building, which is located within the 575,644-square-foot Village at Newbury Park shopping center, which was developed this year. Additional tenants at the shopping center include Target, The Home Depot, Staples, Lowe’s Home Improvement Warehouse and PetSmart. Richard Rizika and Yvonne Shum of Beta represented the seller, while Mark Thiel of Marcus & Millichap represented the buyer in the deal.

August 23, 2019

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Arranges $2.4M Acquisition of 11,971 SF Industrial Asset in Vista, California

by Amy Works August 23, 2019

VISTA, CALIF. — Lee & Associates – North San Diego County has brokered the purchase of a net-leased investment property located at 1046-1050 La Mirada Court in Vista. Sterndahl Group 3 LLC acquired the asset from The San Diego 17 Trust for $2.4 million, or $205 per square foot. At the time of sale, the 11,971-square-foot building was leased to H2O Innovation USA on a long-term basis. The tenant specializes in water filtration, wastewater treatment and water reuse. Isaac Little, Marko Dragovic, TJ Donnelly and Matt Weaver of Lee & Associates – North San Diego County represented the buyer, while Rocket Glass represented the seller in the transaction.

August 23, 2019

Arizona Market Reports Multifamily Western Western Market Reports

Phoenix Apartment Market Remains Red-Hot, Fueling Influx of New Capital

by Taylor Williams August 23, 2019

It isn’t just temperatures that are scorching in the Phoenix metro this summer. The multifamily rental market is hot as well; and vigorous demand is coming from both renters and investors. Investors are snapping up apartment properties and paying hefty prices. Buyers spent $3.72 billion on 94 Phoenix-area apartment complexes in the first half of 2019, a 41.8 percent jump from the first half of 2018. Sales in the $50 million range experienced the greatest rate of acceleration. The Driving Factors Behind Strong Demand Phoenix is the fastest-growing city in the U.S., according to recently released data from the U.S. Census Bureau. The region saw an increase of 25,288 new residents between 2017 and 2018, topping all other U.S. cities. One reason for that growth is that Phoenix remains more affordable than many other large U.S. metros. People are flocking to the Valley from high-cost, high-tech cities like Los Angeles and San Diego. Phoenix also boasts a thriving job market that includes a fast-growing, high-paying tech sector. Other booming industries include bioscience/healthcare and financial services. In fact, the Phoenix metro led the U.S. for new jobs created from May 2018 to May 2019 with 66,500 non-farm jobs, representing 3.2 percent …

August 23, 2019

Market Reports Retail Texas Texas Market Reports

Investor Demand Accelerates for Dallas Metro Retail Assets

by Taylor Williams August 23, 2019

The Dallas-Fort Worth (DFW) economy is booming with tremendous population, income and job growth trajectories that directly benefit the local retail sector. Shopping center investors have taken notice, as evidenced by the total transaction volume for retail properties during the last 12 months reaching its highest level in more than 10 years. Compelling Fundamentals Investors continue to buy retail properties in Dallas as a result of DFW’s healthy and diversified economy. Population growth and in-migration patterns are significant factors with more people moving to DFW last year than any other metro area in the nation (246 people arriving daily), according to recent data from the U.S. Census Bureau. This surge has pushed DFW’s population to more than 7.5 million residents. Additionally, employment growth has exploded, with DFW leading the nation in job creation last year by adding 116,400 jobs. The Dallas metro unemployment rate has recently dropped to 3 percent, which is the lowest rate in 20 years, and this has further contributed to powerful employment dynamics that continue to fuel consumer retail spending. DFW was also recently ranked as the No. 5 market in the nation for technology jobs, which typically are higher-paying and will add strength to an …

August 23, 2019

Development Florida Mixed-Use Southeast

Liberty Investment Leads New Mixed-Use Development in Downtown Orlando

by Alex Tostado August 22, 2019

ORLANDO, FLA. — Liberty Investment Properties, in a partnership with private investors, is developing a new mixed-use development in downtown Orlando. Liberty Corner will be a three-story building that will house 150,000 square feet of retail and restaurant space and a climate-controlled self-storage facility. My Neighborhood Storage Center of Magnolia will operate the nearly 700 self-storage units. Liberty Investment Properties will manage the property, which is expected to open at the end of 2020.

August 22, 2019

Florida Loans Multifamily Southeast

NorthMarq Provides $65M Loan for Refinancing of Apartment Complex in Central Florida

by Alex Tostado August 22, 2019

PORT ORANGE, FLA. — NorthMarq has provided a $65 million refinancing HUD loan for Legacy at Crystal Lake, a 510-unit apartment complex in Port Orange. The 35-year, fixed-rate loan comes with a 35-year amortization schedule. Legacy at Crystal Lake is located at 1200 Floral Springs Blvd., six miles south of Daytona Beach. The property offers communal amenities such as a sundeck, swimming pool, cabanas, fitness center, playground, clubhouse and basketball and volleyball courts.

August 22, 2019

Acquisitions Industrial Kentucky Southeast

IDI Logistics Sells 442,304 SF Industrial Building in Metro Cincinnati

by Alex Tostado August 22, 2019

BOONE COUNTY, KY. — IDI Logistics has sold Building I within its Park South at Richwood Industrial Park. Building I spans 442,304 square feet. The undisclosed buyer plans to open a package sorting center at the location. Park South offers seven buildings, totaling nearly 5 million square feet. The property is located along Interstate 75/71, about 20 miles from downtown Cincinnati. Jeremy Kraus of CBRE represented the buyer in the transaction. Mike Lowe, also of CBRE, represented IDI Logistics.

August 22, 2019

Acquisitions Florida Retail Southeast

CBRE Brokers $17.2M Sale of Waterfront Shopping Center Near Tampa

by Alex Tostado August 22, 2019

MADIERA BEACH, FLA. — CBRE has brokered the $17.2 million sale of The Shops at John’s Pass Village, a 40,771-square-foot shopping center in Madiera Beach. Mark Shellabarger of CBRE represented the undisclosed seller in an online auction that attracted 29 bids. Ben Mallah, an individual buyer, won the bidding process for the waterfront shopping village. The property consists of retail shops, restaurants, a marina and a 325-space parking garage. The Shops at John’s Pass is located about 25 miles west of downtown Tampa.

August 22, 2019

Georgia Loans Multifamily Southeast

Preferred Apartment Communities Arranges $14.8M Construction Loan for Multifamily Community in Metro Atlanta

by Alex Tostado August 22, 2019

KENNESAW, GA. — Preferred Apartment Communities has arranged a $14.8 million construction loan on behalf of Newport Development Partners for Kennesaw Crossing. The 250-unit multifamily community will be located in Kennesaw as part of Eastpark Village, which Sanctuary Cos. and Vardon Partners are co-developing. Eastpark Village is located about 28 miles northwest of downtown Atlanta and a few blocks south of historic downtown Kennesaw. A timeline for completion was not disclosed.

August 22, 2019

Newer Posts

Older Posts