Property Type

CBRE Arranges $64.5M Sale of Multifamily Community in Orlando

by Camren Skelton May 22, 2018

ORLANDO, FLA. — CBRE has arranged the $64.5 million sale of Alexan Crossroads, a 314-unit apartment community located at 7261 Crossroads Garden Drive in Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE arranged the transaction on behalf of the seller and property developer, Trammell Crow Residential. Harbor Group International acquired the asset, which was completed in 2016 and stabilized in 2017. Alexan Crossroads features a clubhouse, saltwater pool with cabanas and grilling stations.

May 22, 2018

Acquisitions Arizona Georgia Retail Southeast Western

Westwood Financial Acquires Two Sprouts-Anchored Centers in Metro Atlanta, Phoenix for $66.2M

by Camren Skelton May 22, 2018

DECATUR, GA. AND CHANDLER, ARIZ. — Westwood Financial LLC has acquired two Sprouts-anchored retail centers located in Decatur and Chandler for a combined $66.2 million. The properties were acquired in separate transactions, and the individual sales prices were not disclosed. In Atlanta, Westwood acquired Decatur Crossing, an 81,900-square-foot shopping center that was constructed in 2017. Atlanta-based Fuqua Development developed and sold the property, according to the Atlanta Business Chronicle. HFF arranged a loan through Unum Group on behalf of Westwood. Decatur Crossing was fully leased at the time of sale. In Chandler, an eastern suburb of Phoenix, Westwood acquired Boardwalk at Andersen Springs. Constructed in 2005, the property is the home of the original Sprouts Farmers Market. HFF arranged an acquisition loan through Nationwide Life Insurance Co. on behalf of Westwood. Boardwalk at Andersen Springs was 97 percent leased at the time of sale.

May 22, 2018

Florida Industrial Leasing Activity Southeast

Bridge Signs Sportswear Company to 172,927 SF Lease at Planned Industrial Development in South Florida

by Camren Skelton May 22, 2018

POMPANO BEACH, FLA. — Bridge Development Partners has signed its first tenant at Bridge Point Powerline Road, a 467,832-square-foot industrial park under development in Pompano Beach. TSF Sportswear LLC, a Florida-based wholesale apparel distributor, will relocate its existing Pompano Beach headquarters to the new facility, fully occupying the 172,927-square-foot Building 1. Tony Hoover of CBRE arranged the lease on behalf of Bridge, the project developer. Bridge Point Powerline Road will feature three buildings and include Class A warehouse, distribution and flex/showroom space. All buildings will feature 32-foot clear heights, 54-foot column spacing, 60-foot speed bays, T-5 energy efficient lighting and ESFR sprinkler systems. Bridge expects to wrap up construction on the park in the third quarter of 2019.

May 22, 2018

Acquisitions Georgia Retail South Carolina Southeast

Marcus & Millichap Brokers $13.4M Sale of Two Walmart-Leased Properties in Georgia, South Carolina

by Camren Skelton May 22, 2018

HEPHZIBAH, GA. AND CAYCE, S.C. — Marcus & Millichap has brokered the $13.4 million sale of two properties leased to Walmart Neighborhood Market in Hephzibah and Cayce. The Hephzibah property is located at 3697 Windsor Spring Road, roughly 14 miles south of Augusta. The property sold for $6.6 million. The Cayce building is located at 1355 Knox Abbott Drive, roughly four miles south of Columbia, and sold for $6.8 million. Both properties span 41,921 square feet and were constructed in 2015. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group arranged the transaction on behalf of the seller, Fletcher Bright Co. Harry Collison Jr. of The Real Estate Consortium represented the buyer, McKinley Cos. LLC.

May 22, 2018

Acquisitions California Loans Office Western

HFF Arranges $109.8M Sale of, $103.6M Financing for Office Building in San Francisco

by Amy Works May 22, 2018

SAN FRANCISCO — HFF has arranged the sale of a subdivided office condominium interest in 1390 Market St., a transit-oriented office building in San Francisco. Broadreach Capital Partners sold the property to Swift Real Estate Partners for $109.8 million. Michael Leggett, Gerry Rohm, David Dokko, Ben Bullock, Thomas Foley and Austin White of HFF represented the seller and procured the buyer in the deal. Additionally, Jordan Angel and Bercut Smith, also of HFF, arranged a $103.6 million floating-rate loan through Brookfield for the buyer. Located in San Francisco’s Mid-Market, the property features 218,791 square feet of office space and 920 square feet of ground-floor retail space. Originally built in 1967, the property was renovated in 2007. Current tenants include Twitter, Jones Clifford and several branches of the City of San Francisco. The property also includes apartments on the top floors, which were not included in the sale or financing.

May 22, 2018

Acquisitions Colorado Multifamily Seniors Housing Western

Confluent Sells 69,000 SF Seniors Housing Property in Fort Collins to Kayne Anderson

by Amy Works May 22, 2018

FORT COLLINS, COLO. — Confluent Senior Living has sold MorningStar of Fort Collins, an assisted living and memory care community in Fort Collins. Kayne Anderson Real Estate purchased the property for an undisclosed price. Confluent co-developed the project with MorningStar Senior Living, which will stay on as operator following the transaction. The 79-unit, 69,000-square-foot community opened in December 2015.

May 22, 2018

Acquisitions Multifamily Nevada Western

Northcap Multifamily Brokers $8.2M Sale of Multifamily Property in Las Vegas

by Amy Works May 22, 2018

LAS VEGAS — Northcap Multifamily has arranged the sale of Decatur Point, a multifamily property located at 1760 N. Decatur Blvd. in Las Vegas. Vegas Venture Holdings LLC sold the asset to an undisclosed buyer for $8.2 million. The property features 100 apartments. Devin Lee, Robin Willett, Jerad Roberts and Jason Dittenber of Northcap Multifamily arranged the transaction.

May 22, 2018

Acquisitions California Multifamily Seniors Housing Western

Clearwater Living Acquires Independent Living Community from The Wolff Company in Southern California

by Amy Works May 22, 2018

OXNARD, CALIF. — Clearwater Living has acquired Clearwater at Riverpark, a newly delivered, 136-unit independent living community in Oxnard. Clearwater already operated the community, which seller The Wolff Company developed. The transfer of ownership was part of the development plan, according to Clearwater. The price was not disclosed. The property is located along the Santa Clara River approximately 75 miles west of Los Angeles. It is adjacent to The Collection at Riverpark, a 600,000-square-foot lifestyle retail center including restaurants, shops and theaters. Clearwater already operates nine communities in Western markets, but this is the first community the company will also own.

May 22, 2018

Acquisitions California Office Western

Voit Real Estate Negotiates $1.5M Sale of Office Building in Chula Vista, California

by Amy Works May 22, 2018

CHULA VISTA, CALIF. — Voit Real Estate Services has arranged the sale of an office building located at 2090 Otay Lakes Road in Chula Vista. Stars Intervention Inc. purchased the building from Pathfinder Otay Holdings, an affiliate of Pathfinder Partners, for $1.5 million. Located within Eastlake Medical and Professional Center, the property features 6,638 square feet of office space. Tracy Clark and Kimberly Clark of Voit Real Estate Services’ San Diego office represented the seller, while Denisse Sanchez of Remax Clarity represented the buyer in the transaction.

May 22, 2018

Development Illinois Industrial Midwest

Bridge to Develop Three Industrial Buildings Totaling 926,947 SF in Waukegan, Illinois

by Kristin Harlow May 22, 2018

WAUKEGAN, ILL. — Bridge Development Partners LLC has unveiled plans to develop Bridge Point North Phase II, which consists of three industrial buildings totaling 926,947 square feet in Waukegan. Completion is slated for the end of this year. One of the buildings is nearly 60 percent pre-leased to Bolke-Miller Co., a contract packager headquartered in Waukegan. Bridge Point North is a 225-acre business park owned by a joint venture that includes Bridge Development Group, Banner Oak Capital Partners LP, Globe Corporate, Wanxiang America Real Estate Group and an undisclosed institutional investor. Whit Heitman, Sam Badger, Jared Paff and Brad Weiner of CBRE have been named as the leasing representatives for Bridge Point North.

May 22, 2018

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