Property Type

Berkadia Brokers $6.4M Sale of Two Multifamily Communities in Northeast Alabama

by Camren Skelton February 27, 2018

GADSDEN, ALA. — Berkadia has brokered the $6.4 million sale of two multifamily communities in Gadsden: Pine Ridge and Williamsburg. David Wilson and David Oakley of Berkadia arranged the transaction on behalf of the seller, an affiliate of Strategic Diversified Management Inc., which is based in California. Birmingham-based Abaco Partners LLC acquired the assets. Pine Ridge, a 112-unit community constructed in 1979, offers a mix of one- to three-bedroom units ranging in size from 680 to 1,160 square feet. Williamsburg, constructed in 1973, offers 60 two-bedroom townhomes averaging 1,200 square feet. Over 70 percent of the unit interiors at Williamsburg were renovated in the 18 months prior to the sale. Both properties feature swimming pools and on-site management.

February 27, 2018

Industrial Midwest Wisconsin

CTDI Signs 166,620 SF Industrial Lease in Pleasant Prairie, Wisconsin

by Kristin Harlow February 27, 2018

PLEASANT PRAIRIE, WIS. — CTDI has signed a 166,620-square-foot industrial lease at Majestic Badger Logistics Center in Pleasant Prairie, about 37 miles south of Milwaukee. The global engineering, repair and logistics company will occupy the space within the 424,164-square-foot Building 1. Features of this building include a clear height of 36 feet, ESFR sprinkler system, large truck courtyard, 292 car parking spaces and office space. CTDI is the first tenant within the industrial park, which is owned by Majestic Realty Co. John Morrissey of Jackson Cross Partners represented CTDI in the lease transaction.

February 27, 2018

Industrial Midwest Ohio

Combi Packaging Inks 156,000 SF Lease for Office, Manufacturing Headquarters in North Canton, Ohio

by Kristin Harlow February 27, 2018

NORTH CANTON, OHIO — Combi Packaging Systems LLC has signed a 156,000-square-foot lease at 6299 Dressler Road N.W. in North Canton, about 20 miles south of Akron. The facility will serve as Combi’s new corporate office and house its manufacturing, engineering and management departments. A joint venture company with 3M Packaging Systems Division and the MJ Maillis Group, Combi is a manufacturer of end-of-line packaging equipment. Herb Verderber of CBRE represented the tenant in the lease transaction. Sean Sanford of CBRE represented the landlord, One Whipple Co. LLC.

February 27, 2018

Illinois Midwest Retail

Baum Realty Arranges $6.3M Sale of 29,764 SF Retail Center in Chicago

by Kristin Harlow February 27, 2018

CHICAGO — Baum Realty Group LLC has arranged the sale of Albany Square in Chicago for $6.3 million. The 29,764-square-foot retail center is located at 4415-4453 N. Pulaski Road in Chicago’s Albany Park neighborhood. Some of the tenants at the property include Subway, Wingstop and Little Caesars. Greg Dietz, Brad Teitelbaum and Danny Spitz of Baum represented the undisclosed seller in the transaction. A local investor acquired the asset.

February 27, 2018

Michigan Midwest Retail

Redline Athletics to Open Youth Training Center in Dexter, Michigan

by Kristin Harlow February 27, 2018

DEXTER, MICH. — Redline Athletics has signed a 10,581-square-foot retail lease in Dexter, about 10 miles northwest of Ann Arbor. The youth athletic training center for ages 8-18 will occupy the currently vacant space at 7007-7093 Dexter Ann Arbor Road. This will be the second metro Detroit location for the company, following Farmington Hills. Ben Hubert and Benji Rosenzweig of Colliers International represented the tenant in the lease transaction. The landlord was not disclosed.

February 27, 2018

Indiana Industrial Lee & Associates Midwest

Lee & Associates Brokers Sale of 10,320 SF Industrial Building in Indianapolis

by Kristin Harlow February 27, 2018

INDIANAPOLIS — Lee & Associates has brokered the sale of a 10,320-square-foot industrial building in Indianapolis for an undisclosed price. The property is located at 5311 Commerce Circle. Cindy Hoskinson of Lee & Associates represented the seller, Eiker Investments LLC. George Dury of Dury Investment Group represented the undisclosed buyer.

February 27, 2018

Hawaii Retail Top Stories Western

Alexander & Baldwin Acquires Three Shopping Centers in Hawaii for $254M

by Katie Sloan February 27, 2018

HONOLULU — Honolulu-based Alexander & Baldwin (NYSE: ALEX) has acquired three shopping centers located in Hawaii. Terramar Retail Centers LLC sold the properties for $254 million. The buyer also assumed $62 million in mortgage debt in the transaction. Acquisitions include Laulani Village, Hokulei Village and Pu`unene Shopping Center. Laulani Village is a 175,000-square-foot, community retail center located in Ewa Beach on the island of Oahu. Safeway, Ross Dress for Less, Petco and City Mill anchor the 95 percent leased property. The center is also home to Buffalo Wild Wings, Teddy’s Bigger Burgers, Starbucks Coffee and Panda Express. Hokulei Village is a 103,000-square-foot center located in Lihue on the island of Kaua`i. The center was 97 percent leased at the time of sale to tenants including Safeway, Petco, American Savings Bank, Chevron, Jack in the Box, Domino’s Pizza and Panda Express. Pu`unene Shopping Center is a 113,000-square-foot retail center located in Kahului on the island of Maui. The property was completed in 2017, and is home to tenants including Ulta Beauty, Starbucks Coffee, Petco, Maui Tacos, Massage Envy, Planet Fitness and Verizon. Alexander & Baldwin Inc. owns, operates and manages a portfolio of approximately 87,000 acres in Hawaii, making it the state’s fourth largest …

February 27, 2018

Retail Utah Western

NKF Arranges $142M Sale of 688,549 SF Retail Center Near Salt Lake City

by Nellie Day February 26, 2018

MIDVALE, UTAH — NKF Capital Markets has arranged the $142 million sale of a 688,549-square-foot portion of The Shops at Fort Union, a shopping center in Midvale, 12 miles south of Salt Lake City. The centers totals more than 830,000 square feet and was 86 percent leased at the time of sale to tenants such as Smith’s Food & Drug, Walmart Supercenter, Dick’s Sporting Goods, Ulta Beauty, Ross Dress for Less, Michaels and DSW. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF Capital Markets, in conjunction with Ben Brown of NKF affiliate Newmark Grubb ACRES, arranged the transaction on behalf of the undisclosed seller. The buyer, CCA Acquisition Co. LLC, was represented internally.

February 26, 2018

California Multifamily Seniors Housing Western

Wolff Plans 185-Unit Independent Living Community Near LA

by Nellie Day February 26, 2018

TORRANCE, CALIF. — The Wolff Company has unveiled plans for Revel South Beach, a 185-unit independent living community in the coastal Los Angeles suburb of Torrance. Wolff, an Arizona-based private equity firm and developer, plans to break ground on the community before the end of the 2018 and open the community during 2019. The property is located near many of Southern California’s most notable beaches, including Manhattan, Redondo, Torrance and Palos Verdes. The four-story property will be the 10th seniors housing community Wolff has developed since 2016. The company plans to invest $300 million to $400 million annually in seniors housing developments, in addition to seeking acquisition opportunities.

February 26, 2018

California Office Western

Pacshore Partners, Canyon Partners Buy Office Park in Santa Ana, California

by Nellie Day February 26, 2018

SANTA ANA, CALIF. — A joint venture between Pacshore Partners and Canyon Partners Real Estate LLC has purchased Harbor Corporate Park in Santa Ana for an undisclosed sum. The park is situated on Harbor Boulevard near the central corridor in the SOCO office market. Harbor Corporate Park contains four two-story buildings set on 8.93 acres with 574 parking spaces. A capital improvement plan will include upgrades to enhance the aesthetic of the property, and a spec suite will be built to market to prospective tenants.

February 26, 2018

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