Property Type

Coro Realty Acquires 80,466 SF Shopping Center Near Atlanta

by Alex Tostado January 30, 2020

POWDER SPRINGS, GA. — Coro Realty has acquired Varner Crossing, an 80,466-square-foot retail center in Powder Springs. An undisclosed Chicago investor sold the property for $12.7 million. Kroger anchors the center, which was 98 percent leased at the time of sale to tenants including Subway, Marco’s Pizza and Macland Animal Hospital. Coro Realty also plans to pursue a ground lease or build-to-suit opportunity for a vacant outparcel included in the deal. The property is situated at 4150 Macland Road, 25 miles northwest of downtown Atlanta. Anthony Blanco of TSCG led the team that represented the seller in the transaction.

January 30, 2020

Acquisitions Multifamily Southeast Virginia

Hines Global Acquires 355-Unit Apartment Complex in Northern Virginia

by Alex Tostado January 30, 2020

CENTREVILLE, VA. — Hines Global Income Trust Inc. has acquired The Emerson, a 355-unit apartment complex in Centreville. The property offers studio, one-, two- and three-bedroom floor plans averaging 925 square feet. Communal amenities include a game room, grilling stations, pool, outdoor TV and fire pit, cyber lounge and a fitness center. The community was delivered in the second quarter of 2019 and was 65 percent occupied at the time of sale. The Emerson is situated at 5865 Trinity Parkway, 25 miles west of downtown Washington, D.C. Further details of the sale were not disclosed.

January 30, 2020

Acquisitions New York Northeast Retail

The Boulder Group Arranges $6.9M Sale of Retail Property Leased to 7-Eleven in Manhattan

by Alex Patton January 30, 2020

NEW YORK CITY — The Boulder Group has arranged the $6.9 million sale of a 2,156-square-foot retail property occupied by 7-Eleven in Manhattan. The space is located at the base of a 351 Bowery, a 15-story residential condominium on the border of NoHo and East Village. Randy Blankstein and John Feeney of The Boulder Group represented the seller, an East Coast-based real estate fund. The buyer was a private investor based in the Northeast. Both parties requested anonymity.

January 30, 2020

Acquisitions California Development Healthcare Office Western

Boston Properties, Alexandria Real Estate to Develop 1.7 MSF Life Science Campus in South San Francisco

by Amy Works January 30, 2020

SOUTH SAN FRANCISCO, CALIF. — Boston Properties has entered into a joint venture with Alexandria Real Estate Equities to develop, own and operate approximately 1.1 million square feet of existing office and lab properties in South San Francisco. Additionally, the partnership will have an opportunity to expand the campus through approximately 640,000 square feet of future development. Upon completion of the master development plan, the joint venture expects to own a 1.7 million-square-foot life science campus, including a mix of office and lab buildings. Boston Properties and Alexandria will each have an approximately 50 percent ownership in the joint venture once complete. Under the agreement, Boston Properties contributed 601, 611 and 651 Gateway Blvd., three existing office properties that total approximately 768,000 square feet, plus developable land. Alexandria contributed approximately 313,000 square feet of existing properties, including lab, office and amenity buildings, as well as developable land.

January 30, 2020

Lone-Mountain-Distribution-Center-I-Las-Vegas-NV

Acquisitions Industrial Nevada Western

Dermody Properties Buys Two Logistics Centers Totaling 158,166 SF in Las Vegas

by Amy Works January 30, 2020

LAS VEGAS — Dermody Properties has acquired two logistics centers in Las Vegas for an undisclosed price. The properties are Pama Distribution Center I at 1385 E. Pama Lane and Lone Mountain Distribution Center I at 2628 E. Lone Mountain Road. The two multi-tenant, concrete tilt-up buildings offer a combined total of 158,166 square feet, ample dock-high and grade-level doors, and abundant parking. At the time of acquisition, both buildings were fully leased. Additional terms of the transaction were not disclosed.

January 30, 2020

California Development Industrial Western

Dedeaux Properties Acquires Land Site for 205,000 SF Industrial Project in Southern California

by Amy Works January 30, 2020

PERRIS, CALIF. — Dedeaux Properties has purchased an industrial-zoned, 9.6-acre land parcel, located at 5150 Walnut Ave. in Perris, for $2.2 million in an off-market transaction. The company plans to develop an industrial facility on the site. Cody Lerner and Stan Nowak of Avison Young’s Ontario, Calif., office represented the buyer and the seller, a private entity, in the deal. The planned 205,000-square-foot facility will include office space, 36-foot clear heights, 28 docks and parking for 42 trailers.

January 30, 2020

Acquisitions Industrial Office Oregon Western

Columbia Helicopters Completes Sale-Leaseback of 187,016 SF Campus in Aurora, Oregon

by Amy Works January 30, 2020

AURORA, ORE. — Columbia Helicopters has completed the sale-leaseback of its asset portfolio in Aurora. New York-based W.P. Carey, a net-lease REIT, acquired the properties for an undisclosed price. Columbia Helicopters, a helicopter manufacturing and operations company, fully occupies the portfolio, which totals 187,016 square feet. Located at 14451 Arndt Road, the campus features 15 buildings. Founded in 1957, Columbia Helicopters provides heavy-lift aviation services, military transport, firefighting, and oil and gas support helicopters. The facilities included in the portfolio sale are mission critical, including offices, shop facilities, an engine test center, training spaces and a wastewater treatment facility. Erik Foster, Mike Wilson and Ryan Carlino of Avison Young represented the seller in the deal.

January 30, 2020

Acquisitions California Healthcare Lee & Associates Western

Lee & Associates Arranges $4.2M Sale of Surgery Center in Ontario, California

by Amy Works January 30, 2020

ONTARIO, CALIF. — Lee & Associates Orange has arranged the sale of a commercial asset located at 4480 Ontario Mills Parkway/745 Franklin Ave. in Ontario. Almaz Investment & Management sold the building to a private individual for $4.2 million. Allen Buchanan, Joshua Harper of Lee & Associates’ Orange, Calif., office and David Mudge of Lee & Associates’ Riverside, Calif., office represented the seller, while Greg Martin of Lee & Associates’ Ontario, Calif., office represented the buyer in the deal. At the time of sale, the two-unit, 9,545-square-foot building was a fully built-out surgery center that had only one tenant.

January 30, 2020

Loans Midwest Minnesota Multifamily

Bellwether Enterprises Arranges $18.1M in Acquisition Financing for Twin Cities Multifamily Portfolio

by Kristin Harlow January 30, 2020

MINNEAPOLIS AND ST. PAUL, MINN. — Bellwether Enterprise Real Estate Capital LLC has arranged $18.1 million in acquisition financing for nine multifamily properties in the Twin Cities area. Bellwether Enterprise arranged the loans on behalf of the borrower, Midwest GIR Group. Freddie Mac provided the majority of the loans. The properties include: Hatch Apartments in St. Paul; Crystal Court in Crystal; Sommerset Place in Brooklyn Park; 872 Payne Ave. in St. Paul; Bluebird Apartments in St. Paul; Stinson Boulevard Apartments in Columbia Heights; Penn & Camden in Minneapolis; Stryker Place in St. Paul; and Folwell Apartments in Minneapolis. Midwest GIR Group acquired the properties, totaling 284 units, over the last 16 months.

January 30, 2020

Illinois Leasing Activity Midwest Office

IDEX Corp. to Move Headquarters to Northbrook, Illinois

by Kristin Harlow January 30, 2020

NORTHBROOK, ILL. — IDEX Corp. has leased 39,252 square feet of office space at 3100 Sanders Road in Northbrook for its new global headquarters. The manufacturer of dispensing equipment and specialty engineered products is expected to vacate its current office in Lake Forest this summer. IDEX will occupy space on the third floor and have access to a shared conference center and auditorium. Lou Hall and Dan Wilkins of Cushman & Wakefield represented the tenant in the lease transaction. Francis Prock and Daryl Silverman of Colliers International represented the landlord, Allstate Corp.

January 30, 2020

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