Property Type

Stillwater Investment, CrossHarbor Capital Buy Aliso Viejo Office Campus for $36M

by Nellie Day January 18, 2017

ALISO VIEJO, CALIF. — A joint venture between Stillwater Investment Group and CrossHarbor Capital Partners has purchased a three-building office campus in Aliso Viejo for $36 million. The campus is located at 26600, 26650 and 26700 Aliso Viejo Parkway. It was built in 1999. The campus totals 161,000 square feet of office space with 2.5 acres of excess land. The site has been the corporate headquarters for QLogic, which Cavium acquired in August 2016. The JV will demolish the campus’ older interior finishes while upgrading all of the common areas. NGKF’s Byron Foss and Greg Tippin represented the seller in this transaction.

January 18, 2017

California Office Western

Surgery Partners Debuts New Surgery Center in Beverly Hills

by Nellie Day January 18, 2017

LOS ANGELES — Surgery Partners has opened a 12,000-square-foot surgical facility in Beverly Hills. The new facility is known as Specialty Surgical Center of Beverly Hills. It will specialize in ophthalmology. This is the company’s second surgical center within the Beverly Hills market. Specialty Surgical Center will occupy the ground floor at a multi-tenant medical office that sits adjacent to the Beverly Hills Triangle. Jon Gorczyca and Yarden Drimmer of Cushman & Wakefield represented Surgery Partners.

January 18, 2017

Industrial Nevada Western

Marnell Properties to Expand Marnell Airport Center in Las Vegas

by Nellie Day January 18, 2017

LAS VEGAS — Marnell Properties has announced plans to expand Marnell Airport Center at McCarran International Airport in Las Vegas. The expansion will include two buildings totaling more than 133,000 square feet of new light office and industrial space within the master-planned airport development and Foreign Trade Zone. The new buildings will be located off Spencer Street and Russell Road. The expansion is scheduled for completion in the third quarter of 2017. At that time, Marnell Airport Center will span across 14 acres, with two industrial buildings totaling 133,000 square feet, an 80,000-square-foot office building and an additional 6,300-square-foot building.

January 18, 2017

Arizona Multifamily Western

Tucson Apartment Building Sells for $7M

by Nellie Day January 18, 2017

TUCSON, ARIZ. — A limited liability company has purchased the 236-unit 3 At West Ajo apartment building in Tucson for $7 million. The community is located at 1240, 1310 and 1502 West Ajo Way. Peter Flis of Marcus & Millichap represented the LLC. The firm’s Hamid Panahi, Cliff David, Steve Gebing and James Crawley represented the seller, another LLC.

January 18, 2017

California Office Western

PDM Steel Service Centers Relocates From Stockton to Elk Grove

by Nellie Day January 18, 2017

ELK GROVE, CALIF. — PDM Steel Service Centers has relocated its office from Stockton to nearby Elk Grove. The steel supplier has leased 10,000 square feet at Laguna Gateway. Its new corporate headquarters is located at 9245 Laguna Springs Drive. The new lease brings the 72,000-square-foot building to full occupancy. The landlord is Jackson Properties Incorporated.

January 18, 2017

Multifamily New York Northeast

Clarion Partners Sells 284-Unit Apartment Property for $81.9M in Holbrook, New York

by Amy Works January 18, 2017

HOLBROOK, N.Y. — Clarion Partners has completed the sale of Broadway Knolls, a garden-style apartment building located at 2200 Dolphin Lane in Holbrook. A private buyer acquired the property for $81.9 million, or $290,000 per unit. Built in 2006, the 22-building property features 284 units in one- and two-bedroom layouts, a fitness center, outdoor swimming pool, grilling area, fire pit, basketball and tennis courts, playground, dog park, community room, business center and walking trail. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval of HFF, in collaboration with Select Real Equity Advisors, represented the seller in the deal.

January 18, 2017

Loans New Jersey Northeast Office

New York Life Real Estate Investors Originates $146.6M Loan for Office Building in Jersey City

by Amy Works January 18, 2017

JERSEY CITY, N.J. — New York Life Real Estate Investors, on behalf of Dividend Capital Diversified Property Fund Inc., has originated a $146.6 million loan for an office building located at 3 Second St. in Jersey City. The floating-rate loan has an initial term of three years with two one-year extensions.

January 18, 2017

Northeast Pennsylvania Retail

PREIT Sells Beaver Valley Mall in Monaca, Pennsylvania, for $24.2M

by Amy Works January 18, 2017

MONACA, PA. — PREIT has sold Beavery Valley Mall, located at 570 Beaver Valley Mall Blvd. in Monaca, for $24.2 million. Boscov’s, J.C. Penney and Dick’s Sporting Goods anchor the approximately 1.1 million-square-foot property. The name of the buyer was not released.

January 18, 2017

New York Northeast Retail

Casey Storage Solutions Sells 13-Property Self-Storage Portfolio Across New England

by Amy Works January 18, 2017

NEW YORK CITY — Casey Storage Solutions has completed the sale of 13 self-storage properties across four New England states. A joint venture led by an institutional investment firm acquired the portfolio for an undisclosed price. The 700,000-square-foot portfolio includes 5,800 units and 25,000 square feet of RV/vehicle parking across the 13 properties. Six assets are located in Massachusetts, three in Connecticut, two in Rhode Island and two in Vermont. A publicly traded REIT will manage the properties. Aaron Swerdlin and Kenneth Cox of NGKF Capital Markets’ New York City office represented the seller in the transaction.

January 18, 2017

Dolce-Basking-Ridge-Hotel-Basking-Ridge-NJ

Hospitality New Jersey Northeast

Broadreach Capital Partners Completes $30M Sale of 171-Room Hotel in Basking Ridge, New Jersey

by Amy Works January 18, 2017

BASKING RIDGE, N.J. — Broadreach Capital Partners has completed the disposition of Dolce Basking Ridge Hotel, a full-service hotel located at 300 N. Maple Ave. in Basking Ridge. An undisclosed buyer acquired the 171-room hotel for $30 million. Built in 1995, the property features 21,000 square feet of function space, Vita Restaurant, Vita Bar, an indoor pool, whirlpool, fitness center, business center, basketball court and tennis court. Daniel Peek, KC Patel and Marc Duval of HFF represented the seller in the deal.

January 18, 2017

Newer Posts

Older Posts