Property Type

BWE Provides $34.1M Agency Refinancing for Apartment Community in Metro Nashville

by John Nelson August 22, 2024

MADISON, TENN. — BWE has provided a $34.1 million Fannie Mae loan for the refinancing of Bristol Park at Riverchase, a 300-unit apartment community located at 100 Riverchase Blvd. in Madison, roughly 10 miles northeast of Nashville. Charles DuBose and David Foulk of BWE originated the financing on behalf of the borrower, GrayCo. The loan has a seven-year term and interest-only payments for the life of the loan. Bristol Park at Riverchase features a mix of one-, two- and three-bedroom apartments, as well as a fitness center, sand volleyball court, swimming pool, business center and a pet play area.

August 22, 2024

Acquisitions Multifamily Northeast Northmarq Pennsylvania

Northmarq Brokers Sale of Two Lehigh Valley Manufactured Housing Properties Totaling 163 Sites

by Taylor Williams August 22, 2024

HAZLETON AND CENTER VALLEY, PA. — Northmarq has brokered the sale of two manufactured housing properties totaling 163 sites in the Lehigh Valley region. Birch Knoll is a 92-site property in Hazleton that was built in 1989. Saucon Valley Crossing in Center Valley totals 71 lots in both single and double formats and was originally constructed in 1947. Anthony Pino and Ari Azarbarzin of Northmarq represented the seller, Pennsylvania-based ME Management, in the transaction. The buyer(s) and sales price(s) were not disclosed.

August 22, 2024

Industrial Leasing Activity New York Northeast

Ranger Design Signs 151,169 SF Industrial Lease in Webster, New York

by Taylor Williams August 22, 2024

WEBSTER, N.Y. — Ranger Design, a manufacturer of shelving and partitions for vans, trucks and trailers, has signed a 151,169-square-foot industrial lease in Webster, a suburb of Rochester. The company is relocating from nearby Ontario, New York, to a 768,475-square-foot building at 700 Resende Road. The building is part of the former Xerox campus and features clear heights of 16 to 24 feet and 50,000 square feet of office space. James Panczykowski of JLL represented the locally based landlord, Tessy Plastics Corp., in the lease negotiations. Ranger Design was self-represented.

August 22, 2024

Acquisitions California Retail Western

Matthews Real Estate Brokers $17.7M Sale of Mary’s Vineyard Shopping Center in Visalia, California

by Amy Works August 22, 2024

VISALIA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of Mary’s Vineyard, a retail center located at 1305-1699 E. Noble Ave. in Visalia, a city in the San Joaquin Valley between Los Angeles and the Bay Area. Argonaut Investments, a privately held investment firm, acquired the asset from an undisclosed seller for $17.7 million. Situated on 16.5 acres, Mary’s Vineyard features 151,615 square feet and 28 tenants, including restaurants, grocery stores and drug stores. The retail center was developed in 1989. Carter Hamilton and Matt LoPiccolo of Matthews Real Estate Investments represented the seller and buyer in the deal.

August 22, 2024

Acquisitions Arizona Industrial Western

KoMiCo Acquires 125,000 SF Manufacturing Facility in Mesa, Arizona

by Amy Works August 22, 2024

MESA, ARIZ. — Austin, Texas-based KoMiCo Phoenix LLC, a company that offers semiconductor cleaning and coating services, has purchased a manufacturing facility at 7300 E. Hampton Ave. in Mesa. Tempe-based 7300 East Hampton LLC sold the property for $17.5 million. KoMiCo will redevelop the 125,000-square-foot facility into an advanced semiconductor equipment parts cleaning, coating and repair facility in the Superstition Springs area of the Southeast Valley. The facility, which is situated on 12.5 acres, is slated to be operational by 2026. Representing a more than $50 million in capital investments, the building will be KoMiCo’s third location in the United States and eighth globally. Rick Foss, Isy Sonabend and Drew Eisen of NAI Horizon represented the buyer, while Lee & Associates represented the seller in the transaction.

August 22, 2024

Acquisitions New Jersey Northeast Retail

Graystone Capital Advisors Arranges Sale of 34,177 SF Shopping Center in Rockaway, New Jersey

by Taylor Williams August 22, 2024

ROCKAWAY, N.J. — California-based brokerage firm Graystone Capital Advisors has arranged the sale of a 34,177-square-foot shopping center in the Northern New Jersey community of Rockaway. Tractor Supply Co. anchors the center, which according to LoopNet Inc. was originally built in 1980. A developer based in the Southeast sold the property to a local institutional investor for $7.2 million, with both parties requesting anonymity. Julius Swolsky and Shannon Bona of Graystone brokered the deal.

August 22, 2024

Acquisitions California Office Western

RGP Sells 57,301 SF Office Building in Irvine, California to Municipal Owner-User

by Amy Works August 22, 2024

IRVINE, CALIF. — RGP has completed the disposition of 17101 Armstrong, an office building in the Orange County city of Irvine. A municipal owner-user purchased the asset for $13 million. The two-story, low-rise building features 57,301 square feet of office space and 167 parking stalls. The property was built in 1982 on 2.4 acres. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Carter Haslam of CBRE represented the seller in the deal.

August 22, 2024

Acquisitions California Industrial Office Western

RPG, Steel Peak Purchase San Diego Office Property for $12.1M, Plan Industrial Outdoor Storage Conversion

by Amy Works August 22, 2024

SAN DIEGO — A joint venture between RPG and Steel Peak has acquired 9606 Aero Drive, a 38,704-square-foot flex office property in San Diego. Total consideration for the acquisition was $12.1 million, which the joint venture’s institutional equity partner supported. The undisclosed seller will continue to occupy the asset as its headquarters through 2025 as part of a leaseback agreement. Situated on 4.2 acres, the asset includes existing office space and a vacated data center that will be converted into warehouse space with multiple grade-level loading doors, creating a Class A industrial outdoor storage facility. Additional improvements to the property will include fencing, lighting and paving. Kurtis Blanchard and Evan McDonald of Colliers represented the buyers in the deal.

August 22, 2024

Acquisitions Industrial Self-Storage Utah Western

Marcus & Millichap Arranges Sale of 64,500 SF Vault Storage Facility in Ogden, Utah

by Amy Works August 22, 2024

OGDEN, UTAH — The LeClaire-Schlosser Group of Marcus & Millichap has negotiated the sale of Vault Storage, a storage facility in Ogden, approximately 35 miles north of Salt Lake City. Mountain West Self-Storage acquired the asset from the original developer for an undisclosed price. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group represented the seller in the deal. Located at 1506 Gibson Ave., Vault Storage consists of eight one-story buildings offering a total of 371 climate-controlled and non-climate-controlled units. The facility has all metal buildings, metal interior walls, standing seam metal roofs, roll-up doors and asphalt driveways.

August 22, 2024

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers $12.4M Sale of Retail Portfolio in Mount Prospect, Illinois

by Kristin Harlow August 22, 2024

MOUNT PROSPECT, ILL. — Marcus & Millichap has brokered the $12.4 million sale of a three-building retail portfolio in Mount Prospect, about 20 miles northwest of downtown Chicago. The assets serve as outparcels to Randhurst Village, a Costco-anchored shopping mall. The first property at 102 E. Kensington Road is home to Chipotle, Five Guys, Jersey Mike’s, Sports Clips and T-Mobile. The second, at 1065 Emhurst Road, features GNC, Panera Bread and Nothing Bundt Cakes. The third property, located at 1027 Randhurst Village, is home to Hangry Joe’s, MOD Pizza and Poke Bros. Built in 2012, the buildings occupy a combined 3.6 acres. Jeff Rowlett and Matthew Gordon of Marcus & Millichap procured the buyer, Lula Holdings, a Wisconsin-based limited liability partnership. Maggie Holmes of Northmarq represented the seller, RREF III-P Randhurst Village, a Delaware-based limited liability company. Steven Weinstock, broker of record in Illinois, assisted in closing the transaction. Michael Hughes of Marcus & Millichap Capital Corp. arranged $6.4 million in acquisition financing through US Bank.

August 22, 2024

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