Property Type

Yokohama Tire Sells Corporate HQ, Signs Two New Leases in Southern California

by John Nelson October 3, 2014

FULLERTON, CHINO AND SANTA ANA, CALIF. — Yokohama Tire Corp. has sold its 439,567-square-foot warehouse facility in Fullerton for $42.7 million. The facility, located at 601 South Acacia Ave., served as the company’s U.S. headquarters. KTR DC III LLC acquired Yokohama’s former facility. CBRE’s Michael Kendall, Darla Longo, Barbara Emmons, Ben Seybold and Andrew Morrow represented Yokohama in the transaction. The tire company has signed a new 15-year lease for a 658,756-square-foot distribution center in Chino. That space is located at 16388 Fern Ave. The landlord is Invesco. Morrow and Seybold once again represented Yokohama, along with David Consani and Joey Sugar of CBRE. Yokohama has also signed a 10-year lease for 57,624 square feet in Santa Ana that will serve as the company’s U.S. headquarters. That space is located at 1 MacArthur Blvd. in Santa Ana. CBRE’s Dean Chandler and John Weiner represented the landlord, Equity Office. Morrow and Seybold, along with Scott Kenny and Garrett Ellis of CBRE, represented Yokohama.

October 3, 2014

California Industrial Western

Marcus Adams Properties Buys Industrial Portfolio in Camarillo for $23.4M

by John Nelson October 3, 2014

CAMARILLO, CALIF. — Marcus Adams Properties has acquired an eight-property industrial portfolio in Camarillo for $23.4 million. The portfolio contains a total of 205,669 square feet within the Flynn Road Industrial Park. The transaction includes six multi-tenant and two single-tenant industrial buildings. The portfolio is 96 percent leased to 28 tenants. The properties were all built between 1986 and 1999 by a local developer. The same family had owned and managed the properties since completion. Sam Wagner of Told Partners represented the family, and Mitch Conlee of Daum Commercial represented Marcus Adams Properties.

October 3, 2014

California Industrial Western

All-Ways Pacific Leases 254,718 SF Industrial Building in La Mirada

by John Nelson October 3, 2014

LA MIRADA, CALIF. — All-Ways Pacific LLC has leased a Class A, 254,718-square-foot industrial building located at 15300 Desman Road in the Los Angeles submarket of La Mirada. The warehouse and distribution building has direct access to Interstate 5 and the 91 Freeway. It is 30 minutes from the ports of Los Angeles and Long Beach. Daum Commercial represented the third-party logistics firm in the lease transaction. JLL’s Luke McDaniel and Cameron Driscoll represented the landlord, TA Associates Realty.

October 3, 2014

Features Restaurant Retail

Net-Leased Properties Expected to Remain Attractive to Investors

by Haisten Willis October 3, 2014

According to new reports published by The Boulder Group and Marcus & Millichap, net-leased properties remain attractive to investors, keeping cap rate at very low levels. Cap rates in the third quarter of 2014 for the single tenant net-leased retail sector remained at their historic low rate of 6.5 percent from the second quarter. Cap rates for the office sector compressed by 37 basis points to 7.4 percent, while cap rates in the industrial sector rose by three basis points to 8 percent. There were no major factors contributing to the leveling of retail cap rates as supply and demand remained near levels from the previous quarter. During the third quarter, the Ten-Year Treasury Yield fell to its lowest point of the year (2.55) in late August. But by the end of the quarter, treasury rates rose and ended at levels similar to the end of the second quarter. With little movement in the capital markets, retail cap rates have flattened as buyers cannot meet acceptable return thresholds at lower cap rates because of the low interest rate environment. During the third quarter, the supply of office and industrial properties increased significantly by 30 percent and 21 percent, respectively. According …

October 3, 2014

Midwest Multifamily Nebraska

Haley Real Estate Group Acquires Five Multifamily Communities for $64.3M

by John Nelson October 3, 2014

OMAHA, NEB. — Haley Real Estate Group, an Omaha, Neb.-based real estate investment firm, has acquired five apartment communities for $64.3 million. The properties include Meadow Walk Apartments in Arkansas City, Kan.; Woodscape Apartments and Forest Lake Apartments in Newport News, Va.; Fox Run Apartments in Broken Arrow, Okla.; and Pryor Creek Apartments in Pryor, Okla. The company plans to invest an additional $3.4 million for capital improvements to the communities, which feature a combined total of 1,028 apartment homes. The addition of the properties increases Haley Real Estate Group’s portfolio to 46 communities representing 11,380 units in 13 states.

October 3, 2014

Civic Midwest Missouri

Kwame Building Group to Provide Construction Services on Firehouse in St. Louis

by John Nelson October 3, 2014

ST. LOUIS — Kwame Building Group Inc. (KWAME) will serve as the construction project manager for a new $6.2 million firehouse in St. Louis. KWAME will build a 30,000-square-foot brick and stone building for The Northeast Ambulance and Fire Protection District in St. Louis County. The building will include a lower level, a 17,500-square-foot main floor with five vehicle bays and a second floor. KWAME will serve as the liaison with district staff and officials, design firms and contractors on the construction, equipping and occupancy of the firehouse. KWAME will also review the district’s selection of a building site and evaluate the land for cost effectiveness, usefulness, code compliance, zoning and ability to meet the district’s goals and operational needs. JEMA will provide architectural services for the project.

October 3, 2014

Healthcare Midwest Wisconsin

Capital Square Realty Advisors Acquires Healthcare Buildings in Wisconsin, Virginia

by John Nelson October 3, 2014

HARTFORD, WIS. AND MECHANICSVILLE, VA. — Capital Square Realty Advisors has acquired two healthcare buildings for an undisclosed price in the Richmond suburb of Mechanicsville and the Milwaukee suburb of Hartford. The portfolio includes a 73,756-square-foot, two-story building located at 1550 Innovation Way in Hartford and a build-to-suit 20,066-square-foot, single-story medical office building located at 7515 Right Flank Road in Mechanicsville. Each of the healthcare properties are on long-term leases to tenants.

October 3, 2014

North Carolina Office Southeast

Trinity Capital Advisors Announces New Hotel, TIAA-CREF Offices at Toringdon

by John Nelson October 3, 2014

CHARLOTTE, N.C. — Trinity Capital Advisors, owner of the six-building Toringdon Office Park in Charlotte’s Ballantyne submarket, has struck a deal to bring a new Hampton Inn and Suites to one of the office park’s outparcels. The 120-room, six-story hotel will feature a fitness center, indoor/outdoor pool and meeting space. The new hotel will be Beacon IMG’s fourth hotel in the greater Charlotte area. Construction will begin in the fall and wrap up in late 2015 or early 2016. Trinity Capital Advisors has also signed TIAA-CREF to a 24,190-square-foot lease in the Toringdon 4 building. TIAA-CREF will have signage on the exterior of the building that is visible from nearby Interstate 485, as per the lease agreement. Josh Lebowitz and Rob Hinton of CBRE represented TIAA-CREF in the lease transaction. Rhea Greene and Jennifer Kurz represented Trinity Capital Advisors internally.

October 3, 2014

Mixed-Use North Carolina Southeast

Blue Ridge Realty, LEI to Develop Mixed-Use Asset in Raleigh

by John Nelson October 3, 2014

RALEIGH, N.C. — Lowe Enterprises Investors (LEI) has teamed up with Blue Ridge Realty to develop The Gramercy, a 203-unit multifamily property located at 401 Glenwood Ave. in Raleigh’s Glenwood South neighborhood. The community will sit atop 6,900 square feet of ground-floor retail space and a 260-space parking garage. Wells Fargo provided a $26 million construction loan, which was arranged by Howard Brooks of Medalist Capital. The six-story building will offer studio, one- and two-bedroom apartments with granite countertops, stainless steel appliances, nine-foot ceilings and individual balconies. Amenities include a clubhouse with a kitchen and lounge area, resort-style pool and a business center. The design team includes architect J. Davis and general contractor Choate Construction. Construction of the project has begun this week.

October 3, 2014

Industrial Southeast Tennessee

Binswanger Brokers Sale of 865,000 SF Industrial Building in Tennessee

by John Nelson October 3, 2014

LAVERGNE, TENN. — Binswanger has brokered the sale of a single-story, 865,000-square-foot industrial facility located on a 53-acre site at 1714 Heil Quaker Blvd. in Lavergne. The property is located near I-24 and 12.5 miles away from Nashville International Airport. Ashley Capital purchased the asset from Whirlpool Corp. and plans to retrofit it. Ashley Capital has tapped Binswanger to sell the asset once the retrofit is complete. Michael Reid of Binswanger’s Atlanta office represented Ashley Capital in the transaction.

October 3, 2014

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