Property Type

Rudolph Foods Co. Buys Beaumont Logistics Center for $6.3M

by Nellie Day June 2, 2015

BEAUTMONT, CALIF. – Rudolph Foods Co. has purchased Beaumont Logistics Center, a 572,143-square-foot logistics center just east of Riverside, for $6.3 million. The two-building industrial warehouse center is located at 920 Fourth Street. It sits adjacent to Lowe’s Distribution Center. The pork rinds manufacturer and private snack supplier will be relocating its warehouse distribution operations to this facility from nearby San Bernardino. Rudolph Foods was represented by CBRE’s David Consani. The seller, CT Realty, was represented by Milo Lipson, Kyle Kehner, Ryan Velasquez and Tim Pimentel of Cushman and Wakefield.

June 2, 2015

California Industrial Western

Nordic Naturals Buys Industrial Corporate Headquarters Facility in Vista

by Nellie Day June 2, 2015

VISTA, CALIF. – Nordic Naturals has purchased a 39,672-square-foot industrial corporate headquarters property in Vista for $2.8 million. The property is located at 2390 Oak Ridge Way. The building is fully occupied by Select Supplements. Isaac Little and Marko Dragovic of Lee & Associates represented both the buyer and seller, SR Commercial, in this transaction.

June 2, 2015

Retail Washington Western

Round Table Pizza Building in Vancouver Sells for $2M

by Nellie Day June 2, 2015

VANCOUVER, WASH. – A 5,900-square-foot space in Vancouver that is net leased to Round Table Pizza has sold to an individual/personal trust for $2 million. The space is located at 5016 NE Thurston Way. It is situated adjacent to the Westfield Vancouver Mall. Round Table recently signed a 10-year lease extension and performed a major interior renovation at the property. The pizza chain was represented by Justin Poor of Marcus & Millichap’s Portland office. The seller, a limited liability company, was represented by Michael R. Kapnick of the same firm.

June 2, 2015

Market Reports Multifamily New Mexico Western Western Market Reports

Millennials Lead the Way in New Mexico’s Multifamily Market

by Nellie Day June 2, 2015

Multifamily housing is coming of age in New Mexico, and the Millennial generation is spurring the growth. The old adage of “location, location, location” is ever present as the placement of a property in relation to cultural, educational, entertainment and natural amenities becomes a major factor in the value of the property. The ability to walk and bike to social amenities like restaurants, theaters and schools is, and will continue to be, very high on the list of importance for members of this generation in New Mexico. There is not only a distinguishable difference in occupancy rates for units scoring high on Millennial’s wish lists, but the income for these units is between 20 percent and 24 percent higher than those with lower scores. While newly constructed and refurbished multi-housing units often appeal to Millennials, all of New Mexico is experiencing high occupancy rates throughout the multifamily market. This push on availability is fueling an environment that will continue to encourage increasing rents and new construction. Though the sale of multifamily properties was deeply affected by the recession, a market shift in 2013 has allowed the multifamily market to regain its footing with a two- to three-times increase in sales …

June 2, 2015

Retail Texas

Baker Katz Acquires 105,833 SF Shopping Center in Houston

by Haisten Willis June 1, 2015

HOUSTON — Houston-based Baker Katz has acquired the 105,833-square-foot Federal East Shopping Center located in Houston. The property is located off of I-10, nine miles east of the Central Business District. Baker Katz’s redevelopment plan includes renovating the façade and upgrading the tenant mix. The 33,589-square-foot Fitness Connection and 11,030-square-foot Pappas Meat Co. restaurant anchor the property, along with Avenue Stores, South Texas Dental Associates, H&R Block and other tenants. Construction for Federal East’s renovation is slated to begin later this year.

June 1, 2015

Industrial Texas

MYCON Breaks Ground on 70,000 SF Warehouse Facility in Metro Dallas

by Haisten Willis June 1, 2015

MCKINNEY, TEXAS — MYCON General Contractors has broken ground on a new industrial warehouse project located at 2639 E. Rosemeade Parkway in Carrollton. The new 70,000-square-foot build-to-suit project for the Workplace Resource Group includes 50,000 square feet of warehouse space and 20,000 square feet of office space. The $3.3 million project is slated for completion in the fall of 2015.

June 1, 2015

Industrial Texas

Lee & Associates Negotiates Sale of 38,810 SF Industrial Space in Dallas

by Haisten Willis June 1, 2015

DALLAS — Lee & Associates has closed a sales transaction for a 38,810-square-foot industrial building located at 4630 Alpha Road in Dallas. Nathan Denton of Lee & Associates Dallas/Fort Worth office represented the purchaser, StoneDome Real Estate LLC. Sam Beys of Preston Commercial represented the seller, Dors Family LP.

June 1, 2015

Industrial Texas

ML Realty Partners Arranges 269,388 SF Industrial Lease in Fort Worth

by Haisten Willis June 1, 2015

FORT WORTH, TEXAS — ML Realty Partners LLC has arranged a lease renewal for Amcor Rigid Plastics, which has extended its 269,388-square-foot lease at 4100 Fleetwood Road in Fort Worth. Greg Kloiber and David Stechly at Top Gun Advisors represented the tenant in the transaction.

June 1, 2015

Multifamily Texas

M&M Arranges Sale of 52-Unit Apartment Building in Austin

by Haisten Willis June 1, 2015

AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Lindy’s Landing, a 52-unit apartment property located in Austin. Joe James and Kent Myers of Marcus & Millichap’s Austin office, along with Robert Sheppard, Armand Tiberio and Spencer Hurst of the firm’s tax credit group, marketed the property on behalf of the seller, a partnership. James and Myers also secured the buyer, a foreign entity. Built in 1985 on 1.4 acres at 121 Woodward St., the complex is located just minutes south of downtown. Lindy’s Landing, a 33,600-square-foot apartment community, offers two floor plans and amenities including a leasing office, centrally located laundry facility and barbecue areas.

June 1, 2015

Multifamily New York Northeast

Taconic Investment Partners, Ares Sell Brooklyn Multifamily Property for $53M

by Amy Works June 1, 2015

NEW YORK CITY — Taconic Investment Partners and Ares Management have completed the disposition of 318 residential units at MeadowWood at Gateway, a multifamily property located at 12205 Flatlands Ave. in Brooklyn. The Pinnacle Group purchased the units for $53 million. MeadowWood at Gateway features 19 high-rise and garden-home buildings offers studio, one-, two-, three- and four-bedroom in a mix of for-sale and rental units. Taconic and funds managed by Ares originally purchased the 983 unsold condominiums units out of the 1,152 units at MeadowWood in 2006 and completed a $40 million renovation program at the property. Aaron Jungreis of Rosewood Realty Group represented the seller in the transaction.

June 1, 2015

Newer Posts

Older Posts