Property Type

Harbor Associates, Ascentris Acquire 110,110 SF Office Building in Rancho Bernardo, California

by Amy Works June 19, 2018

RANCHO BERNARDO, CALIF. — Harbor Associates and Ascentris have partnered to acquire The Pinnacle, an office building located in the north San Diego submarket of Rancho Bernardo, for an undisclosed price. Completed in 2007, the property features 110,100 square feet of Class A office space. At the time of sale, the property was 93 percent leased. The buyers plan to execute a capital improvement plan to enhance the tenant experience, including new outdoor covered seating and collaborative workspace with canyon views, modernizing the bike storage and locker room areas, and refreshing the ground-floor lobby. Lynn LaChapelle and Bob Prendergast of JLL represented the undisclosed seller in the deal. Jay Alexander and Tim Olsen of JLL will continue to handle leasing for the new ownership, while Davis Partners will serve as property manager.

June 19, 2018

Acquisitions Colorado Loans Office Western

Equus Investment Partnership XI to Purchase 150,656 SF Office Building in Metro Denver

by Amy Works June 19, 2018

BROOMFIELD, COLO. — Equus Investment Partnership XI, an equity fund managed by Equus Capital Partners, has received $18.8 million in financing for the purchase of 370 Interlocken Blvd. The 150,656-square-foot, Class A office building is located in Broomfield, a northwest suburb of Denver. Leon McBroom and Eric Tupler of HFF secured the seven-year, fixed-rate loans through Guggenheim Partners for the borrower. Completed in 1998 and renovated in 2017, the six-story building features a two-story lobby with a fireplace, touchscreen directory, WiFi access, a fitness center with showers and lockers, a high-end tenant lounge and a bike storage center. At the time of financing, the property was 94 percent leased to a variety of tenants, including Stantec, CliftonLarsonAllen and New York Life Insurance Co.

June 19, 2018

Acquisitions California Multifamily Western

Bascom Group Buys 25-Unit Apartment Community in Southern California for $7.5M

by Amy Works June 19, 2018

ANAHEIM HILLS, CALIF. — The Bascom Group has purchased Sleepy Hollow Apartments, an infill apartment community located in Anaheim Hills. An undisclosed seller sold the property for $7.5 million, or approximately $300,000 per unit. Built in 1964, the property features 25 apartment units in a mix of two- and three-bedroom units averaging more than 1,000 square feet. Manufacturers Bank provided debt financing for the acquisition. Scott Parker and Spencer Heichman of Triqor Group brokered the transaction. James D’Argenio and Chang Liu of Bascom sourced and managed the deal for the buyer.

June 19, 2018

Acquisitions Arizona Healthcare Office Western

Sun Commercial Brokers $4.5M Sale of Medical Office Building in Glendale, Arizona

by Amy Works June 19, 2018

GLENDALE, ARIZ. — Sun Commercial Real Estate’s Investment Services Group has arranged the sale of a medical office building located at 20325 N. 51st Ave. in Glendale. A California-based buyer acquired the property for $4.5 million, or approximately $375 per square foot. DaVita Dialysis occupies the 12,148-square-foot property on an absolute net-leased basis, with at least 10 years remaining on its lease. Cathy Jones, Jessica Cegavske, Roy Fritz, Paul Miachika and Taylor Vasquez of Sun Commercial Real Estate handled the transaction. The name of the seller was not released.

June 19, 2018

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sales of Two Industrial Buildings in Costa Mesa, California

by Amy Works June 19, 2018

COSTA MESA, CALIF. — DAUM Commercial Real Estate Services has arranged the sales of two industrial warehouses in Costa Mesa to two private buyers. Mike Barreiro of DAUM represented the seller, Keller & Sons Construction, in both transactions. Constructed in 1971 and 1972, the warehouses both feature secured fenced yards, drive-in/grade-level doors, 13-foor clear heights, warehouse skylights, office space and upgraded roofs. In the first transaction, Steven Card and Christopher O’Connor of Savills Studley represented the buyer of the 6,498-square-foot property located at 1621-1625 Ohms Way, which sold for $2.5 million. In the second deal, a separate private buyer purchased the 6,897-square-foot property at 1635 Ohms Way for $2.6 million.

June 19, 2018

Loans Lument Michigan Midwest Multifamily RED Capital Group

RED Capital Provides $18.1M Refinancing for Apartment Community in Macomb Township, Michigan

by Kristin Harlow June 19, 2018

MACOMB TOWNSHIP, MICH. — RED Mortgage Capital has provided an $18.1 million Fannie Mae loan for the refinancing of Redwood Neighborhood in Macomb Township, about 30 miles north of Detroit. The apartment community features 132 units, all of which are single-story and include two bedrooms and an attached garage. Fannie Mae’s Green Building Certification Program was used for the financing. The borrower, Redwood Living Inc., currently manages over 10,000 units across the Midwest and the Carolinas.

June 19, 2018

Development Illinois Midwest Retail

Summit Design + Build Completes Renovation of 13,000 SF Retail Building in Chicago

by Kristin Harlow June 19, 2018

CHICAGO — Summit Design + Build LLC has completed the renovation of a 13,000-square-foot retail building located at 1504 N. Fremont St. in Chicago. The project added space for up to three retail tenants and the creation of 11 new openings for storefront windows. Summit also poured new concrete floors for a future retail tenant and completed landscaping with a new sidewalk. L3 Capital LLC is the property owner. OKW Architects served as project architect.

June 19, 2018

Acquisitions Hospitality Indiana Midwest

HREC Arranges Sale of Comfort Suites in Fort Wayne, Indiana for $7.1M

by Kristin Harlow June 19, 2018

FORT WAYNE, IND. — HREC Investment Advisors has arranged the sale of the 127-room Comfort Suites in Fort Wayne for $7.1 million. The limited-service hotel is located at 5775 Coventry Lane. Tom Sommer, Zane Varvel and James Robinson of HREC represented the seller, Condor Hospitality Trust (NYSE American: CDOR). Akram Namou of Fort Wayne Hotel Group purchased the asset. He owns three other full-service and extended-stay hotels in the Fort Wayne market.

June 19, 2018

Kansas Leasing Activity Midwest Restaurant Retail

Taqueria Signs Lease to Open Second Location in Metro Kansas City

by Kristin Harlow June 19, 2018

LENEXA, KAN. — Rudy’s Tenampa Taqueria has signed a lease to open its second location at 8710 Lackman Road in Lenexa. The Mexican restaurant will occupy 4,678 square feet at Country Hill Shopping Center. Other tenants at the property include Rimann Liquors, Ace Hardware, Panera Bread and Sherwin Williams. The original Rudy’s opened in Kansas City in 1993. The opening for the new restaurant is scheduled for mid-August. David Block and Rob Epstein of Block & Co. Inc. Realtors negotiated the lease transaction. Block & Co. is the leasing and property management company for the shopping center.

June 19, 2018

Acquisitions Illinois Industrial Midwest

Darwin Brokers Sale of Two Industrial Buildings in Illinois for $3M

by Kristin Harlow June 19, 2018

ADDISON AND GLENDALE HEIGHTS, ILL. — Darwin Realty has brokered the sale of two industrial buildings in Illinois. Westwind Industrial, a general contractor specializing in medical, industrial and commercial property reutilization, purchased a 37,560-square-foot property in Addison for $2 million. The seller, AIM Inc., will leaseback the facility. Noel Liston and Nick Krejci of Darwin brokered the transaction. The duo also represented Comtelco Industries in its sale of a 13,500 square-foot facility in Glendale Heights. IVM Chemicals Inc. purchased the property for just under $1 million. G. Pat Ryan of Combined Commercial Realty represented IVM, which is a European-based distributor of industrial chemicals and pesticides.

June 19, 2018

Newer Posts

Older Posts