Property Type

Marcus & Millichap Brokers Sale of 242-Unit Self-Storage Facility in College Station

by Taylor Williams November 6, 2017

COLLEGE STATION, TEXAS — Marcus & Millichap has brokered the sale of Storage Depot, a 242-unit self-storage facility situated on 4.6 acres at 11990 Old Wellborn Road in College Station, about four miles south of Texas A&M University’s campus. Built in 1993, the property features 37,260 square feet of net rentable storage space. Nicholas Ling of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Dave Knobler of Marcus & Millichap procured the buyer, also a limited liability company. Both parties requested anonymity.

November 6, 2017

Retail Texas

Baker Katz Secures 7,300 SF Retail Lease in Montgomery, Texas

by Taylor Williams November 6, 2017

MONTGOMERY, TEXAS — Retail brokerage firm Baker Katz has secured a 7,300-square-foot retail lease at the corner of State Highway 105 and Lone Star Parkway in Montgomery on behalf of Pet Supplies Plus. Lunden McGill of Baker Katz represented the tenant in the lease negotiations. Scott Gardner of Streetwise Retail Advisors represented the landlord, Gulf Coast Commercial LLC. The store is scheduled to open in early 2018.

November 6, 2017

California Loans Office Western

City Office REIT Receives $47M Loan to Acquire 290,000 SF Office Portfolio in San Diego

by Nellie Day November 6, 2017

SAN DIEGO — City Office REIT has received a $47 million loan to acquire Mission City Corporate Center, a 290,000-square-foot office portfolio in the San Diego submarket of Mission Valley. The four-building portfolio is located at 2355, 2365, 2375 and 2385 Northside Drive. The portfolio is 87 percent leased to tenants like Eplica Corporate Solutions, Mission Home Health, Midland Credit Management, State of California Water Resources and Innova Systems International. HFF’s Zack Holderman and Tim Wright arranged the 10-year, fixed-rate acquisition loan through one of the firm’s life insurance company lenders.

November 6, 2017

California Multifamily Western

Davlyn Investments Purchases Colony Apartments Near Los Angeles for $24.2M

by Nellie Day November 6, 2017

SIMI VALLEY, CALIF. — Davlyn Investments has purchased the 88-unit Colony apartments in the San Fernando Valley market of Simi Valley for $24.2 million. The Class A community is located at 1750 First St. Davlyn plans to rebrand the project as 1750 on First. The 31-year old, value-add property’s interior, exterior and grounds have been maintained, though the asset has never been renovated. The company plans to upgrade the interiors and enhance staffing and marketing. The seller was not disclosed. Vince Norris of Berkadia facilitated the purchase. Ryan Blair of City National Bank spearheaded the lending.

November 6, 2017

Arizona Multifamily Western

Wood Partners Sells 350-Unit Apartment Complex in Phoenix

by Nellie Day November 6, 2017

PHOENIX — Wood Partners has sold the 350-unit Altera Highland apartments in Phoenix for an undisclosed sum. The community is located at 1602 E. Highland Ave. The buyer was not disclosed. Altera Highland was built in 1998. It features one- to three-bedroom units, all of which were renovated in 2017. The owners also renovated the clubhouse, fitness center, resort-style pool and spa area, private cabanas, outdoor kitchen and outdoor fireplace. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented Wood Partners in the transaction.

November 6, 2017

Colorado Multifamily Western

Inland Real Estate Buys 141-Unit Village Gardens Apartments in Fort Collins

by Nellie Day November 6, 2017

FORT COLLINS, COLO. — Inland Real Estate Acquisitions has purchased the 141-unit Village Gardens Apartments in Fort Collins for an undisclosed sum. The community is located at 1025 Oxford Lane. Village Gardens contains 12 buildings with one- to three-bedroom units. Community amenities include a fitness center, dog park, fire pit with gas grills, sand volleyball court, life-size chess set and an all-season indoor pool. The property was 97 percent occupied at the time of closing. Inland Real Estate was represented in-house by Matthew Tice.

November 6, 2017

Office Oregon Western

First Tenants Sign at $100M Field Office Project in Portland

by Nellie Day November 6, 2017

PORTLAND, ORE. — The first two tenants have been announced at Field Office, a $100 million office project being developed in Portland’s Frontside district. The two-building office and retail space will house Adpearance and The Children’s Garden when it opens in early 2018. Both tenants are local companies. The full-service digital marketing agency will occupy 30,000 square feet in Field Office’s West building. The early childhood learning center will be situated on the ground floor of the same building. National Real Estate Advisors is developing Field Office.

November 6, 2017

Hospitality Midwest Wisconsin

Janko Group Tops Off Hyatt Place Hotel in Milwaukee

by Kristin Harlow November 6, 2017

MILWAUKEE — Developer Janko Group and operator Janko Hospitality hosted a topping out ceremony for the Hyatt Place hotel under construction at The Brewery in Milwaukee on Thursday, Nov. 2. The 150-room, six-story hotel is slated to open in July 2018. Located at 800 W. Juneau Ave., the hotel is part of The Brewery neighborhood redevelopment project located on the site of the former Pabst Brewing Complex. The topping off ceremony took place on site in the hotel’s recently completed first floor. The Hyatt Place will feature a bar and lounge, 2,000 square feet of meeting space, fitness center and outdoor terrace.

November 6, 2017

Illinois Industrial Midwest

Podolsky Circle Arranges Sale of 288,000 SF Industrial Property in McHenry, Illinois

by Kristin Harlow November 6, 2017

MCHENRY, ILL. — Podolsky Circle has arranged the sale of a 288,00-square-foot industrial property in McHenry, about 50 miles northwest of Chicago. Brake Parts Inc. (BPI) occupies the property, located at 4400 Prime Parkway, for its global headquarters. Built in 1990, the two-story building features 30-foot clear heights. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Centurion Investments. Brennan Investment Group purchased the property and now owns the entire BPI campus, which also includes a property on Corporate Drive.

November 6, 2017

Healthcare Midwest Missouri

Bamboo Equity Partners Acquires 52,000 SF Medical Office Building in Sunset Hills, Missouri

by Kristin Harlow November 6, 2017

SUNSET HILLS, MO. — Bamboo Equity Partners has acquired a 52,000-square-foot medical office building in Sunset Hills, about 15 miles southwest of St. Louis. The building, located at 10777 Sunset Office Drive, is 91 percent occupied. Tenants include Mercy Hospitals, SSM and Sisters of St. Joseph. Bamboo plans to renovate the property, built in 1978, to improve common areas used by patients and healthcare providers. Bamboo Micro Opportunity Fund I LP was the entity used to acquire the property. The seller was not disclosed.

November 6, 2017

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