Property Type

Stockbridge Capital Acquires 350,856 SF Industrial Building North of Charleston for $30.5M

by Camren Skelton June 4, 2018

HANAHAN, S.C. — Stockbridge Capital Group has acquired a newly constructed industrial facility in the north Charleston suburb of Hanahan for $30.5 million. The 350,856-square-foot facility is located at 1025 N. Pointe Industrial Road, five miles from the Port of Charleston’s North Charleston terminal and nine miles from Charleston International Airport. The building features an ESFR sprinkler system, 32-foot clear heights, LED lighting, 180-foot truck courts and on-site trailer storage. The facility is fully leased to AmerCare and ManTech International. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, SunCap Property Group and WestRock, which developed the facility in 2016.

June 4, 2018

Acquisitions Florida Multifamily Southeast

Carroll Organization Sells Two Multifamily Communities in Jacksonville, Orlando

by Camren Skelton June 4, 2018

JACKSONVILLE AND ORLANDO, FLA. — Carroll Organization has sold ARIUM Town Center in Jacksonville and Knightsbridge at Stoneybrook in Orlando for an undisclosed price. Carroll Multifamily Real Estate Fund III LP originally acquired ARIUM Town Center in June 2014. The 320-unit community is located within walking distance to St. Johns Town Center, a 1.5 million-square-foot outdoor shopping center. Community amenities include screened-in patios, a newly renovated swimming pool with barbecue grills, 24-hour fitness center, business center and a gated dog park. Knightsbridge at Stoneybrook in Orlando was acquired in 2015 as part of both Carroll Multifamily Real Estate Fund III LP and Carroll Multifamily Real Estate Fund IV LP. The 396-unit community features resort-style pools, a 24-hour fitness center, tennis and volleyball courts and a gated dog park. The name of the buyer was not disclosed.

June 4, 2018

Acquisitions Georgia Retail Southeast

Sterling Organization Acquires Kroger-Anchored Center in Metro Atlanta from Kimco for $10.5M

by Camren Skelton June 4, 2018

LILBURN, GA. — Sterling Organization has acquired Five Forks Crossing, a 73,910-square-foot shopping center located at the intersection of Five Forks Trickum and Oak roads in Lilburn, roughly 20 miles northeast of Atlanta. Kimco Realty sold the asset for $10.5 million, or $142 per square foot. A 62,000-square-foot Kroger anchors the center. Additional tenants include Great Clips, The UPS Store and Coast Dental. Five Forks Crossing is Palm Beach, Fla.-based Sterling Organization’s seventh property in Georgia.

June 4, 2018

Acquisitions California Retail Western

Artisan Realty Advisors Acquires 40,000 SF Retail Property in Hollywood for $61M

by Amy Works June 4, 2018

HOLLYWOOD, CALIF. — Santa Monica, Calif.-based Artisan Realty Advisors has purchased Space 15 Twenty, a retail property located at 1520, 1534, 1538 and 1542 N. Cahuenga Blvd. and 1535 Ivar Ave. in Hollywood. Cahuenga Lofts and Ivar Group sold the property for $61 million. Situated on a 71,000-square-foot land parcel, the property consists of two buildings with an open space area and a surface parking lot. Urban Outfitters, Umami Burgers, Free People and Pharmacy Boardshop, a skate shop, occupy the property. The asset was built in the mid-1920s and renovated in 2007. Cory Stehr of Lee & Associates-LA North/Ventura represented the sellers in the transaction.

June 4, 2018

Acquisitions California Retail Western

Merlone Geier Partners Purchases 77,276 SF Shopping Center in California for $29.7M

by Amy Works June 4, 2018

FULLERTON, CALIF. — Merlone Geier Partners has purchased College Plaza Shopping Center from a private investor for $29.7 million. Located at 2400-2520 E. Chapman Ave. in Fullerton, the 77,276-square-foot shopping center was constructed in 1962 and renovated in 1998. Goodwill and 99 Cents Only anchored the property, which was 73 percent occupied at the time of sale. However, Goodwill vacated during the sales process. Geoff Tranchina, CJ Kodani and Scott Burns of JLL represented the seller, while Merlone Geier represented itself in the deal.

June 4, 2018

California Loans Retail Western

Newmark Secures $28M Loan for NorthPointe Shopping Center in Modesto, California

by Amy Works June 4, 2018

MODESTO, CALIF. — Newmark has placed $28 million in long-term, fixed-rate non-recourse financing for NorthPointe Shopping Center located on Pelandale Avenue in Modesto. The name of the borrower was not disclosed. Save Mart Supermarket anchors the 180,300-square-foot shopping center. Additional tenants include Cost Plus World Market, Starbucks Coffee, Jamba Juice, Verizon Wireless and H&R Block. Mitchell Zeemont of Newmark arranged the 15-year, fixed-rate term loan with a 30-year amortization schedule. One of the firm’s correspondent life insurance company lenders, Genworth Life Insurance Co., provided the capital.

June 4, 2018

Acquisitions Multifamily Nevada Western

Northcap Multifamily Arranges $15M Sale of Apartment Building in Las Vegas

by Amy Works June 4, 2018

LAS VEGAS — Northcap Multifamily has brokered the sale of Cypress Springs Apartments, located at 3651 N. Rancho Drive in Las Vegas. Oceanside Cypress Springs sold the property to an undisclosed buyer for $15 million. Built in 1994, the asset features 144 multifamily units. Devin Lee, Robin Willett, Jerad Roberts and Jason Dittenber of Northcap Multifamily represented the seller in the transaction.

June 4, 2018

Acquisitions California Retail Western

Faris Lee Negotiates $10.5M Sale of Retail Property in Palmdale, California

by Amy Works June 4, 2018

PALMDALE, CALIF. — Faris Lee Investments has arranged the sale of a newly constructed, single-tenant retail building located at 40022 10th St. West in Palmdale. Southern California-based HFC/PRP Palmdale sold the property to Valuerock Investments Partners for $10.5 million. Built in 2017, the 54,942-square-foot building is located within the Destination 0-Eight Power Center. Hobby Lobby fully occupies the building. Jeff Conover and Christopher DePierro of Faris Lee Investments represented the seller and buyer in the deal.

June 4, 2018

Development Midwest Office Wisconsin

Irgens Begins Construction of BMO Tower in Downtown Milwaukee

by Kristin Harlow June 4, 2018

MILWAUKEE — Irgens has begun construction of BMO Tower in downtown Milwaukee. Four concrete pumps poured 6,700 cubic yards of concrete over the weekend to create the foundation for the 380,000-square-foot office tower. Completion is slated for late 2019. Located at 770 N. Water St., the tower will rise 20 stories. BMO Harris Bank and Michael Best have signed leases at the property. Colliers International is the leasing agent, J.H. Findorff & Son is the general contractor and Kahler Slater is the architect.

June 4, 2018

Acquisitions Healthcare Michigan Midwest

Griffin-American Healthcare Acquires Medical Office Building in Suburban Detroit for $16.2M

by Kristin Harlow June 4, 2018

SOUTHFIELD, MICH. — American Healthcare Investors and Griffin Capital Co. LLC, the co-sponsors of Griffin-American Healthcare REIT IV Inc., have acquired an 85,000-square-foot medical office building in Southfield, a northern suburb of Detroit. The purchase price was $16.2 million. The property was approximately 96 percent leased at the time of acquisition to multiple tenants, including Wayne State University Physician Group and Beaumont Health System. Rich Deptula and Todd Hawley of Friedman Integrated Real Estate Solutions represented the seller, Universal Properties FPMC LLC. Griffin-American Healthcare REIT IV financed the acquisition using cash on hand, a revolving line of credit with Bank of America NA and Keybank NA, and through the assumption of an existing mortgage loan.

June 4, 2018

Newer Posts

Older Posts