Property Type

Sierra-Vista-Mall-Lifestyle-Center-Clovis-CA

Mason Asset Management, Namdar Group Buy 500,000 SF Sierra Vista Mall in San Joaquin Valley

by Amy Works August 1, 2019

CLOVIS, CALIF. — Mason Asset Management and Namdar Group have purchased Sierra Vista Mall and Lifestyle Center, a regional mall located at 1050 Shaw Ave. in Clovis, eight miles northeast of Fresno. An undisclosed seller sold the asset for $41 million. The seller had a 100 percent leasehold interest in the 500,000-square-foot mall. Originally built in 1988 and renovated in 2005, the mall features an outparcel and open-air configuration, as well as interior space. Current tenants include Kohls, Target, Sierra Vista Cinema, AT&T, Baja Fresh, Chipotle, Jamba Juice, Panera Bread, Red Robin Gourmet Burgers and Brews, Sleep Fit and Starbucks Coffee. Thomas Dobrowski of Newmark Knight Frank’s Capital Markets represented the seller in the transaction.

August 1, 2019

Acquisitions California Retail Western

JLL Arranges $13.6M Sale of Leasehold Interest of Glendora Commons Shopping Center in Los Angeles County

by Amy Works August 1, 2019

GLENDORA, CALIF. — JLL has brokered the sale of Glendora Commons, a grocery-anchored retail center located in Glendora. Seagrove Property Group sold the asset to a private foreign investor for $13.6 million. Located at 1241-1251 Lone Hill Ave., Glendora Commons features 41,689 square feet of retail space. Completed in 2017, the property is currently occupied by Aldi, Guitar Center, Chick-fil-A and Pick-Up-Stix. Bryan Ley and Tony Ensbury of JLL Capital Markets represented the seller in the sale.

August 1, 2019

Acquisitions Multifamily New Mexico Seniors Housing Western

Marcus & Millichap Brokers Sale of 101-Bed Skilled Nursing Facility in New Mexico

by Amy Works August 1, 2019

FARMINGTON, N.M. — Marcus & Millichap has brokered the sale of Cedar Ridge Inn, a skilled nursing facility located at 800 Saguaro Trail in Farmington. A private investor sold the asset to another private investor for an undisclosed price. Built in 2002 on 4.5 acres, the single-story, 39,232-square-foot facility features 101 beds for seniors. Prior to the sale, the seller reduced operating capacity to fully renovate the 10-unit short-term rehabilitation wing. Tony Cassie and Sam Thompson of Marcus & Millichap’s Portland, Ore., office represented the seller, while Rod Llanos of Marcus & Millichap’s Houston office represented the buyer in the deal. Matthew Reeves, also of Marcus & Millichap, assisted in the transaction.

August 1, 2019

Development Multifamily New Jersey Northeast

WinnCompanies Completes $34M Renovation Project for Multifamily Asset in Bridgeton, New Jersey

by Alex Patton August 1, 2019

BRIDGETON, N.J. — WinnCompanies, a Boston-based multifamily developer, has completed renovations of a 156-unit affordable housing community in Bridgeton, about 40 miles south of Philadelphia. The project, which was valued at $34 million, upgraded appliances and HVAC systems of every unit, replaced roofs on all residential buildings and constructed a new community building with a management office and gym.

August 1, 2019

Acquisitions New Jersey Northeast Office

NKF Brokers $19.5M Sale of Office Property in Princeton, N.J.

by Alex Patton August 1, 2019

PRINCETON, N.J. — Newmark Knight Frank (NFK) has brokered the $19.5 million sale of 1 Independence Way, a 113,998-square-foot office property in Princeton, New Jersey. The building was 100 percent leased at the time of the sale to financial information company S&P Global and navigation software provider Trimble MAPS. Kevin Welsh, Brian Schulz, Chuck Kohaut and Steve Tolkach of NKF represented the seller, Normandy Real Estate Partners. The team also secured the buyer, Guardian Realty.

August 1, 2019

Acquisitions Multifamily New Jersey Northeast

NAI Mertz Arranges $5.2M Sale of Three Office Properties in Manalapan, New Jersey

by Alex Patton August 1, 2019

MANALAPAN, N.J. — NAI Mertz has arranged the $5.2 million sale of thee office properties totaling approximately 78,000 square feet in Manalapan, roughly 30 miles east of Trenton. The three properties, 100, 200 and 300 Craig Road, are located within Century Office Park. The NAI Mertz team also executed leases with several tenants to the properties prior to the sale, increasing occupancy to 70 percent. Jonathan Klear and Fred Meyer of NAl Mertz represented the undisclosed seller in the transaction.

August 1, 2019

Acquisitions New Jersey Northeast Office

Cushman & Wakefield Negotiates 32,000 SF Office Lease in Montville, New Jersey

by Alex Patton August 1, 2019

MONTVILLE, N.J. — Cushman & Wakefield has negotiated a 32,000-square-foot office headquarters lease for cooling and heating solutions specialist Fujitsu General America Inc. in Montville, about 35 miles west of New York City. The firm plans to move into the property, located at 340 Changebridge Road., in early 2020. Ben Brenner and MariaGrace Iantosca of Cushman & Wakefield represented Fujitsu in the transaction. Curtis Foster and Jerry Shifrin of Cushman & Wakefield represented the landlord, Real Capital Solutions.

August 1, 2019

Leasing Activity New York Northeast Office

JAG-ONE Physical Therapy Signs 3,300 SF Office Lease in New York

by Alex Patton August 1, 2019

NEW YORK CITY — JAG-ONE Physical Therapy has signed a 3,300-square-foot lease in Staten Island. The property is located in the Amboy Shopping Center at 4343 Amboy Road. David Townes and Alana Freidman of Cushman & Wakefield represented JAG-ONE in the lease negotiations. Howard Seidenfeld of Global Realty Services represented the landlord.

August 1, 2019

Acquisitions Healthcare Midwest Multifamily Northeast Ohio Seniors Housing Southeast Texas Top Stories Western

Welltower Shakes Up Portfolio, Commits to Nearly $2.75B in Transactions

by Alex Tostado August 1, 2019

TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has expanded its senior living portfolio to the tune of 15 properties worth $949 million across the country. Simultaneously, the healthcare REIT giant exited its partnership with seniors housing operator Benchmark Senior Living, selling its 48-property portfolio to an undisclosed buyer for $1.8 billion. The 48 properties that Benchmark operates total 4,137 units and are located in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. As part of the recapitalization, Benchmark will invest in improvements at the properties. Benchmark will continue to manage the portfolio under a new management agreement with the new capital partner. Ted Flagg of the JLL Capital Markets team represented Welltower in the Benchmark transaction. With the new acquisitions, Welltower expanded its footprint by entering into or expanding partner agreements with senior living operators Balfour Senior Living, Sunrise Senior Living and Discovery Senior Living. The three partnerships yielded 14 properties in Maryland, Colorado, California and Texas. Welltower acquired six properties from Balfour, including Balfour’s flagship Balfour at Riverfront in Denver and the recently opened Lavender Farms, for $308 million. The other four properties are situated in the Denver and Boulder metro areas. Additionally, Welltower has the option to …

August 1, 2019

The Pier at CCU is located near Coastal Carolina University.

Features Multifamily Student Housing

Is Pedestrian-to-Campus Still the Future of Student Housing Development?

by Jeff Shaw August 1, 2019

One of the most crucial questions in today’s student housing development market is the question of location. A number of prominent companies have made the ability to be walkable to campus a big issue when it comes to a property’s resale value. Other developers, meanwhile, eschew walkable locations in favor of value for tenants. For a time, a big industry trend was amenity-laced properties located a few miles from campus, selling a lifestyle, and typically an oversized pool, in exchange for a slightly longer campus commute. More recently, a countertrend has emerged, with builders catering to students looking to walk across the street to class. “Beachfront property” is often the preferred term for developers of this mindset. Is close proximity still the dominant trend? A group of student housing developers and architects debated the topic during a panel discussion at the 11th annual InterFace Student Housing conference, held in April in Austin, Texas. David Senden, principal of KTGY Group Architecture + Planning, served as moderator and opened with a simple question: What exactly is urban infill, and what is cottage product? Todd Gaines, vice president of development at Austin-based Aspen Heights Partners, answered that his definition of urban infill is …

August 1, 2019

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