Property Type

IPA Arranges $57.1M Sale of 208-Unit The Dylan Apartment Complex in Oceanside, California

by Amy Works March 1, 2019

OCEANSIDE, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Dylan Apartment Homes, a multifamily property located in Oceanside. Fowler Property Acquisitions sold the property to Chicago-based 29th Street Capital for $57.1 million, or approximately $274,639 per unit. Located at 550 Los Arbolitos Blvd., the complex features 208 apartments, two swimming pools, two spas, a gym and a business center. Christopher Zorbas and Alexander Garcia Jr. of IPA, along with Tyler Martin of Marcus & Millichap, represented the seller and procured the buyer in the deal.

March 1, 2019

Leasing Activity New York Northeast Office

WeWork Signs 201,231 SF Lease at One Seaport Plaza in Manhattan

by David Cohen March 1, 2019

NEW YORK CITY — Collaborative workspace provider WeWork has signed a 201,231-square-foot lease at One Seaport Plaza in Manhattan. Located at 199 Water St., the 35-story property is owned by Jack Resnick & Sons. The 15-year lease is for WeWork to occupy the top five floors at the property. John Cefaly, Robert Constable, Ethan Silverstein, Stephen Bellwood and Myles Fennon of Cushman & Wakefield represented Jack Resnick & Sons in the transaction with WeWork.

March 1, 2019

Acquisitions California Office Western

Joint Venture Purchases 111,268 SF Mesa View Plaza in San Diego for $39.1M

by Amy Works March 1, 2019

SAN DIEGO — A joint venture between San Diego-based Coast Income Properties and Washington Capital Management has purchased Mesa View Plaza, a mid-rise office building located at 9350 Waxie Way in San Diego’s Kearny Mesa neighborhood. Stockbridge sold the property for $39.1 million. Situated on 9.8 acres, the five-story, multi-tenant building features 111,268 square feet of Class A office space. At the time of sale, the property was 100 percent leased to a mix of professional services and tech companies. Brian Paul & Associates designed the building, which was completed in 2003. Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets group in San Diego represented the seller in the transaction.

March 1, 2019

Acquisitions Multifamily Washington Western

Goldman Sachs Buys 372-Unit Bailey Farm Apartments in Metro Seattle

by Amy Works March 1, 2019

BOTHELL, WASH. — Goldman Sachs Asset Management Private Real Estate has purchased Bailey Farm Apartments in Bothell, a suburb of Seattle. Terms of the transaction were not disclosed. Built in 2013, Bailey Farm Apartments features 372 units with nine-foot ceilings, direct-access garages, quartz countertops, vinyl plank flooring and stainless steel appliances. This transaction is the buyer’s 24th multifamily investment. The company currently owns approximately 6,450 multifamily units across the country.

March 1, 2019

Acquisitions California Retail Western

Agora Realty & Management Acquires 33,708 SF Office Depot Plaza in Thousand Oaks for $14.4M

by Amy Works March 1, 2019

THOUSAND OAKS, CALIF. — Los Angeles-based Agora Realty & Management has purchased Office Depot Plaza, a shopping center located at 11-25 E. Hillcrest in Thousand Oaks. An undisclosed seller sold the property for $14.4 million. At the time of acquisition, the 33,708-square-foot shopping center was 96 percent occupied. Major tenants include Office Depot, Bank of the West, AT&T, Habit Restaurant and Wescom Credit Union. Agora Realty plans to remodel the center’s parking lot with new asphalt and striping, install new LED parking lot lights and upgrade the center’s landscaping.

March 1, 2019

Leasing Activity New York Northeast Office

Senior Lifestyle Opens Welcome Center at Seniors Housing Community Near New York City

by David Cohen March 1, 2019

BRIARCLIFF MANOR, N.Y. — Senior Lifestyle Corp. has opened a welcome center at The Club at Briarcliff Manor, a seniors housing community in Briarcliff Manor, approximately 25 miles north of Manhattan. A grand opening was recently held for prospective residents, who can start moving into the community in late spring. The Club at Briarcliff Manor features a mix of 287 independent living, assisted living and memory care apartments in two interconnected buildings. The independent living apartments range from 974 square feet to 1,111 square feet. Monthly rents start at $7,350. The name and architecture are an homage to the Briarcliff Lodge, a grand resort hotel built in the early 1900s. The 59-acre property features views of the Hudson River and Manhattan skyline, numerous walking trails and landscaped grounds originally designed by Frederick Law Olmstead.

March 1, 2019

Acquisitions California Office Retail Western

Pacific Coast Commercial Negotiates $2.3M Sale of Retail/Flex Building in La Mesa

by Amy Works March 1, 2019

LA MESA, CALIF. — Pacific Coast Commercial has arranged the sale of a 12,215-square-foot retail/flex building located at 7575 University Ave. in La Mesa. La Mesa Retail LLC sold the property to MY & RY Enterprises LLC for $2.3 million. Constructed in 1993 for Fountain’s Aquarium, the showroom that was dedicated to tropical fish was remodeled and re-sold to an owner-user. Tommas Golia and Jason Vieira of Pacific Coast Commercial represented the seller, while Brandon Keith of Voit Real Estate represented the buyer in the deal.

March 1, 2019

Acquisitions Florida Industrial Southeast

GCP Acquires Industrial Building in Jacksonville for $49M

by Alex Tostado March 1, 2019

JACKSONVILLE, FLA. — Graham Commercial Properties (GCP) has acquired Northport Logistics Center, an 872,627-square-foot industrial building in Jacksonville, for $49 million. The asset is situated less than three miles from the Jacksonville Port Authority (JAXPORT) and is leased to Gildan Activewear and Grimes Logistics. Wells Fargo provided acquisition financing. Colorado-based Real Capital Solutions was the seller.

March 1, 2019

Florida Loans Office Southeast

New York Life Real Estate Investors Provides $34.4M Acquisition Loan for Office Property in Fort Lauderdale

by Alex Tostado March 1, 2019

FORT LAUDERDALE, FLA. — New York Life Real Estate Investors has provided a $34.4 million acquisition loan for Trade Centre South, a 10-story, 216,038-square-foot office property in Fort Lauderdale. The floating-rate loan has a four-year term plus an extension option with interest-only payments. The asset is situated about six miles north of downtown Fort Lauderdale, HFF arranged the loan on behalf of the borrower, a joint venture between Cardinal Point Management and Halstatt Real Estate Partners.

March 1, 2019

Acquisitions North Carolina Office Southeast

Hamilton EQ Purchases Seven Buildings Within Charlotte Office Park

by Alex Tostado March 1, 2019

CHARLOTTE, N.C. — Hamilton EQ has purchased seven buildings within Parkway Plaza, a 12-building business park in Charlotte’s Airport submarket. Hamilton’s purchase spans 368,871 square feet across 44.1 acres. The office park houses tenants such as Xylem Inc., a water technology provider; Roundpoint Financial; and Jack Henry & Associates, a payment processing services provider. The property is situated about six miles south of Charlotte Douglas International Airport and about six miles southwest of downtown Charlotte. New York City-based Hamilton will handle onsite management, while Trinity Partners will handle leasing efforts. The sales price was not disclosed.

March 1, 2019

Newer Posts

Older Posts