Property Type

Matter-Business-Warm-Springs-Las-Vegas-NV

Matter Real Estate Breaks Ground on 132,450 SF Office/Warehouse Project in Las Vegas

by Amy Works November 28, 2018

LAS VEGAS — San Diego-based Matter Real Estate Group has broken ground on Matter Business Park @ Warm Springs, a light industrial office/warehouse project in Las Vegas’ southwest submarket. Situated on 10 acres at 7952 W. Warm Springs Road, the two-building project will feature a total of 132,450 square feet space across condominium-style units with flexible floorplans divisible to 6,000 square feet. Each unit will feature two dock doors and at-grade-level access. Additionally, second-story mezzanine, two dock-level doors and one at-grade door are available in select units. Completion is slated for July 2019. Project partners include Tectonics Design Group, Burke Construction Group, Slate Hanifan, Nuvis and Doherty Industrial Group/Colliers International as broker.

November 28, 2018

Acquisitions California Multifamily Western

Levin Johnston Directs $16.8M Acquisition of Multifamily Property in Palo Alto, California

by Amy Works November 28, 2018

PALO ALTO, CALIF. — Levin Johnston of Marcus & Millichap has arranged the purchase of a multifamily community located at 283-301 and 327 Curtner Ave. in downtown Palo Alto. A private high-net-worth investor acquired the property from a Northern California-based multifamily development company for $16.8 million. The 32-unit apartment community features an upgraded community barbecue area and pet-washing station. Adam Levin and Robert Johnston represented the buyer and the seller in the deal.

November 28, 2018

Acquisitions Colorado Multifamily Western

AvalonBay Communities Acquires 256-Unit Ironwood at Red Rocks Near Denver

by Amy Works November 28, 2018

LITTLETON, COLO. — AvalonBay Communities, an equity REIT, has purchased Ironwood at Red Rocks, a garden-style multifamily property located in Littleton. Embrey Partners developed and sold the property for an undisclosed price. The property features 256 units in a mix of one-, two- and three-bedroom units, the largest of which averages more than 1,300 square feet. Units feature large kitchen islands, under-mount sinks, granite countertops, stainless steel appliances, full-size washers and dryers, large patios and balconies, and spacious walk-in closets. Community amenities include a clubhouse, state-of-the-art fitness center, indoor yoga with spin bikes, a game room with billiards and shuffleboard, a resort-style pool with tanning ledges and a heated spa, an outdoor kitchen and lounge area with a fire pit, a catering kitchen and dining room, private garages and carports, a bike/ski workshop, and a pet spa. Shane Ozment and Terrance Hunt of Newmark Knight Frank Multifamily represented the seller in the transaction.

November 28, 2018

Development Multifamily Nevada Seniors Housing Western

Wolff Opens 146-Unit Seniors Housing Community in Metro Las Vegas

by Amy Works November 28, 2018

HENDERSON, NEV. — The Wolff Company, a Scottsdale-based private equity firm and multifamily developer, has opened the doors on Revel Nevada. Located in the Las Vegas suburb of Henderson, the three-story independent living property offers 146 units in a mix of one- and two-bedroom options. Clearwater Living will operate the community. The Wolff Company is currently developing numerous senior living communities throughout the country with plans to broaden its portfolio by investing $300 million to $400 million annually in the development of additional communities.

November 28, 2018

Acquisitions California Industrial Self-Storage Western

Baron Equities Sells 88,000 SF Self-Storage Facility in San Diego’s Kearny Mesa

by Amy Works November 28, 2018

SAN DIEGO — Los Angeles-based Baron Equities has completed the sale of Aero Drive Self Storage, located at 9645 Aero Drive in the Kearny Mesa area of San Diego. A well-capitalized national operator acquired the facility for an undisclosed price. The property feature 88,000 square feet of self-storage space. Greg Wells of Cushman & Wakefield’s Self Storage Practice Group represented the buyer and seller in the transaction.

November 28, 2018

Acquisitions Midwest Missouri Office

KCP Acquisition Purchases 86,778 SF Office Building in Gladstone, Missouri

by Kristin Harlow November 28, 2018

GLADSTONE, MO. — KCP Acquisition LLC has purchased the Northland Innovation Campus in Gladstone, a northern suburb of Kansas City. The purchase price was not disclosed, but the Kansas City Business Journal reports that the property was valued at $20 million as of March 2017. The Class A building features collaborative office space and an education center. The five-story, 86,778-square-foot office building is 92 percent leased to the North Kansas City School District, Northwest Missouri State University and Edward Jones. Gary Carr, Gina Anderson and Robert Hill of CBRE represented the seller, Gladstone Capital LLC.

November 28, 2018

Development Industrial Midwest Minnesota

Opus, Hillcrest Complete 161,000 SF Industrial Build-to-Suit in Minneapolis Suburb

by Kristin Harlow November 28, 2018

COTTAGE GROVE, MINN. — The Opus Group and Hillcrest Development LLLP have completed a 161,000-square-foot industrial build-to-suit on behalf of North Star Sheets in Cottage Grove. The producer of corrugated paper products will occupy the entire facility for its manufacturing needs. The rail-served building is the first within a 38-acre industrial development known as Southeast Industrial Park that is located just south of Highway 61. Hillcrest owns the site.

November 28, 2018

Acquisitions Illinois Midwest Retail

Hanley Investment Group Brokers Sales of Three Retail Properties in Illinois for $5.2M

by Kristin Harlow November 28, 2018

WOODRIDGE, ARLINGTON HEIGHTS AND O’FALLON, ILL. — Hanley Investment Group Real Estate Advisors has brokered the sales of three single-tenant retail properties in Illinois for a combined $5.2 million. In Woodridge, Jeff Lefko and Bill Asher of Hanley brokered the sale of a Carrabba’s Italian Grill ground lease. The 6,500-square-foot building was constructed in 2002. Carabba’s has 6.5 years remaining on the original lease term. Lefko and Asher represented the seller, a Schaumburg, Illinois-based private development company. Jeff Gates of The Kase Group represented the Dallas-based buyer. The asset sold for $2 million. In Arlington Heights, a 5,995-square-foot building net leased to Chili’s sold for $1.7 million. Chili’s has seven years remaining on its lease. Lefko and Asher represented the Schaumburg, Illinois-based seller. Don Straub of NNN Property represented the buyer, a California-based private investor completing a 1031 tax-deferred exchange. Lastly, in O’Fallon, Illinois, a 4,700-square-foot MedExpress Urgent Care ground lease sold for $1.4 million. Built in 2016, the 4,700-square-foot building sits on one acre. MedExpress has eight years remaining on its original lease term. Lefko and Asher, with assistance from Alex Apter of L3 Corp., represented the Missouri-based seller. Helvetica Group represented the California-based buyer.

November 28, 2018

Acquisitions Michigan Midwest Retail

Encore Arranges $4.8M Sale of Ashley Furniture-Occupied Store Near Grand Rapids

by Kristin Harlow November 28, 2018

KENTWOOD, MICH. — Encore Real Estate Investment Services has arranged the $4.8 million sale of a single-tenant Ashley Furniture Homestore in Kentwood, about eight miles south of Grand Rapids. The 30,000-square-foot property is located on 28th Street. Ashley Furniture has approximately nine years remaining on its double net lease. Logan McAnallen of Encore represented the seller, a Michigan-based private partnership. A local real estate firm represented the undisclosed buyer.

November 28, 2018

Acquisitions Industrial Midwest Wisconsin

Zilber Acquires Two Industrial Buildings in Metro Milwaukee

by Kristin Harlow November 28, 2018

WEST MILWAUKEE AND HARTLAND, WIS. — Zilber Property Group has acquired two industrial buildings in metro Milwaukee for an undisclosed price. The first is a 120,452-square-foot building located at 5000 Electric Ave. in West Milwaukee. Mainetti RTS fully occupies the property. The second is a 35,051-square-foot building at 1115 Cottonwood Ave. in Hartland. Axis Automation fully occupies the property, which is located within the Cottonwood Commerce Center. James Young of JLL represented the seller in the West Milwaukee transaction. Michael Kleber of Zilber represented Zilber.

November 28, 2018

Newer Posts

Older Posts