more_sales_and_leases

Greysteel Arranges Sale, Acquisition Financing for Multifamily Property in Metro Dallas

by Haisten Willis May 4, 2016

GARLAND, TEXAS — Greysteel has arranged the sale of Casa Del Mar, a 59-unit multifamily property in Garland, to Casa Del Mar I LLC on behalf of a private local investor. Greysteel’s Boyan Radic and Doug Banerjee negotiated the transaction. Greysteel also arranged acquisition financing for the buyer. The seven-year, non-recourse loan was provided by an agency lender under the Freddie Mac small balance loan program. It features a fixed interest rate and one year of interest-only payments followed by a 30-year amortization schedule. Greysteel’s Anton Mattli and John Marshall Doss negotiated the terms of the financing. Casa Del Mar is located at 3810 W. Walnut St.

May 4, 2016

Bennett Williams Commercial Brokers $13.1M Sale of Office Park in Pennsylvania

by Amy Works May 4, 2016

LANCASTER CITY, PA. — Bennett Williams Commercial has arranged the sale of an office park located at 1300 Marshall Ave. in Lancaster City. Brook Farms Development acquired the 60,000-square-foot property from Stockyards Development for $13.1 million. Jeff Herr of Bennett Williams Commercial represented the buyer and seller.

May 4, 2016

Illinois Industrial Midwest

Venture One Purchases 21,672 SF Distribution Center in Gurnee, Illinois

by Christina Cannon May 4, 2016

GURNEE, ILL. — Venture One Real Estate LLC has purchased a single-tenant 21,672-square-foot distribution center in Gurnee, approximately 45 miles northwest of Chicago, for an undisclosed price. Chenille Kraft Co. sold the building, which is located on 1.4 acres at 65 Ambrogio Drive. Venture One plans to rehab the property. David Liebman of Merit Partners represented the seller, and Venture One was self-represented.

May 4, 2016

Florida Industrial Southeast

Cite Partners Brokers $10.7M Sale of 300,000 SF Industrial Property in Orlando

by John Nelson May 4, 2016

ORLANDO, FLA. — Cite Partners has brokered the $10.7 million sale of Shader Industrial Park, a 300,000-square-foot industrial property in Orlando. The asset was 90 percent leased at the time of sale. Cite Partners represented the undisclosed buyer in the transaction. Cory Kroeger and Greg Rebman of KR Properties represented the seller, an unnamed entity that has owned Shader Industrial Park since 1983.

May 4, 2016

Idaho Multifamily Seniors Housing Western

CareTrust REIT Purchases Skilled Nursing Facility in Boise for $8.9M

by Nellie Day May 3, 2016

BOISE — CareTrust REIT (NASDAQ: CTRE), an investor based in San Clemente about midway between Los Angeles and San Diego, has acquired Shaw Mountain at Cascadia, a 98-bed skilled nursing facility in Boise, for $8.9 million. This deal was a sale-leaseback transaction with the seller and operator, Cascadia Healthcare LLC. The acquisition was funded by an 8.5 million-share equity offering that occurred in March.

May 3, 2016

Office Texas

SkyWalker Property Partners Buys Office Property in Arlington

by Haisten Willis May 3, 2016

ARLINGTON, TEXAS — In an all-cash transaction, SkyWalker Property Partners has acquired a 72,518-square-foot, Class A office building in Arlington. The property is the first for the company’s Opportunity Knocks Fund in preparation for the launch of a major capital campaign in June. The 40 percent leased office building at 701 Highlander Blvd. is located on the city’s south side, close to Arlington Highlands and Parks Mall. The 4.6-acre property includes a T-Mobile cell tower. At least $400,000 will be invested into addressing deferred maintenance and upgrading the 30-year-old structure. Roughly $150,000 is earmarked to remediate waterproofing issues with the roof, windows and granite-clad skin panels. The lobby will be getting new lighting, finishes and furniture. Upgrades are also planned for elevator cabs and common areas. The exterior plan calls for a new monument sign and landscaping improvements. Work is expected to get underway within 30 days. Twenty-six tenants-in-common investors, known as TIC-Highlander Building LLC, sold the five-story office building. The buyer, This Land is Highland, was represented by Gary Walker of Coldwell Banker Commercial Alliance DFW, along with Colt Power and Grant Irvin of NAI Robert Lynn. Paul Getty of Sperry Van Ness/First Guardian Group of San Jose, Calif., …

May 3, 2016

Retail Texas

Weitzman Negotiates Lewisville Location for Spec’s

by Haisten Willis May 3, 2016

LEWISVILLE, TEXAS — Spec’s Wines, Spirits & Finer Foods, a shopping experience founded and operated by the same Houston family since 1962, has leased 25,908 square feet of retail space in Lakepointe Crossing, a power retail center located at 2416 S. Stemmons Freeway in Lewisville. Blake Shipp of The Weitzman Group handled negotiations as the leasing agent for Lakepointe Crossing. Jody Detmore of SFP Brokerage LLC represented Spec’s. Cencor Realty Services’ property manager, Susana Gandara, manages Lakepointe Crossing.

May 3, 2016

Retail Texas

M&M Arranges Sale of 10,500 SF Net-Leased Property in Metro Houston

by Haisten Willis May 3, 2016

HUMBLE, TEXAS — Marcus & Millichap has arranged the sale of The Learning Experience, a 10,500-square-foot net leased property in Humble. Taylor Booker and Nate Newman of Marcus & Millichap’s The Woodlands office marketed the property on behalf of the seller, a limited liability company. Keith Lloyd and Christopher Jones of the firm’s Houston office secured and represented the buyer, a partnership. The Learning Experience is located at 7743 N. Sam Houston Parkway East.

May 3, 2016

Iowa Midwest Multifamily Seniors Housing

Marcus & Millichap Arranges Sale of Two Skilled Nursing Facilities in Iowa for $7.2M

by Christina Cannon May 3, 2016

WASHINGTON AND MUSCATINE, IOWA — Marcus & Millichap has arranged the sale of All-American Care of Washington and All-American Care of Muscatine, both skilled nursing facilities in Iowa, for $7.3 million. The facilities are located approximately 40 miles apart from each other in the southeast corner of the state, near the Illinois border. Mark Myers, Ryan Fleming and Joshua Jandris of Marcus & Millichap represented the seller, a husband and wife partnership exiting the nursing home business. The buyer was a private owner/operator out of the Northeast. All-American Care of Washington, a 90-bed facility on 5.2 acres, sold for $3.1 million. All-American Care of Muscatine, a 100-bed facility on 3.9 acres, sold for $4.1 million. Both facilities were built in the 1970s and renovated in the 1990s and 2000s. The combined sales price equates to approximately $38,000 per bed.

May 3, 2016

Midwest Office Wisconsin

Siegel-Gallagher Negotiates 3,335 SF Office Lease in Milwaukee Suburb

by Christina Cannon May 3, 2016

BROOKFIELD, WIS. — Siegel-Gallagher has negotiated a 3,335-square-foot office lease in Brookfield, approximately 13 miles west of Milwaukee. Atlas Chiropractic will occupy space at Arbor Terrace I. AH Holding LLC and Wabash Acceptance LLC own the property located at 333 Bishops Way. Shaun Dempsey of Siegel-Gallagher brokered the transaction.

May 3, 2016

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