more_sales_and_leases

CBRE Arranges Sale of Value-Add Apartment Complex in Metro Dallas

by Haisten Willis June 24, 2015

GRAND PRAIRIE, TEXAS — CBRE Capital Markets has arranged the sale of Derby Park, a 360-unit multifamily community in Grand Prairie. Intergerman Derby LP purchased the asset from a private equity firm for an undisclosed price. Dirk Goris, Chris Deuillet and Daniel Baker with CBRE’s Dallas office represented the seller. The 95 percent occupied property is located at 606 W. Palace Parkway at the northwest corner of Beltline Road and I-30. The buyer is planning interior unit upgrades for the complex. Community amenities include two swimming pools, a cyber café, business center, fitness center and a playground.

June 24, 2015

Charles Dunn Company Arranges $5.1M Sale of Retail Property in Monrovia

by Nellie Day June 24, 2015

MONROVIA, CALIF. — Charles Dunn Company has arranged the sale of a single-tenant, 7,327-square-foot property located in Monrovia for $5.15 million. Citibank occupies the triple-net leased property. Kyle Gulock and Jason Cope of Charles Dunn led the effort in representing the seller, a Los Angeles-based private investor. Other Charles Dunn team members involved in the transaction include Darrell Levonian, Fred Sheriff, Tanel Harunzade and Justin Mendelson. Kathy Quach of Treeline Realty represented the buyer, Evan & MC LLC, in the transaction, which closed at a capitalization rate of 4.3 percent.

June 24, 2015

Georgia Loans Multifamily Southeast

Berkadia Brokers $14.7M Sale of Apartment Community, Arranges $11.8M Financing

by John Nelson June 24, 2015

RICHMOND HILL, GA. — Berkadia has brokered the sale of and arranged financing for Ashton of Richmond Hill, a 232-unit affordable housing property located at 505 Harris Trail in Richmond Hill, a suburb of Savannah, Ga. The community’s amenities include a clubhouse, tennis court, volleyball court, picnic area, playground, swimming pool, community laundry room and 24-hour emergency maintenance. Savannah-based Kole Management Co. purchased the property from Ashton Partners GA LLC for $14.7 million. Andrew Mays, Paul Vetter, Mark Boyce and Cole Whitaker of Berkadia brokered the transaction. Berkadia also arranged acquisition financing for the transaction. Lloyd Griffin, Frank Brown and Brett Bennett of Berkadia arranged the $11.8 million Freddie Mac loan with a fixed interest rate of 4.16 percent and a 30-year amortization schedule.

June 24, 2015

Midwest Nebraska Retail

Investors Realty Inc. Brokers $7M Sale of Two Shopping Centers in Omaha

by Amy Works June 24, 2015

OMAHA, NEB. — Investors Realty Inc. has brokered the sale of two shadow-anchored shopping centers in Omaha. The assets, Fort Plaza and Weber Plaza, sold for $7 million. Tenants of the centers include First National Bank, VooDoo Taco, Dollar General, Citi Trends and the Douglas County Treasurer. Ember Grummons of Investors Realty represented the buyer, Baceline Investments LLC, while Erin Pogge and Lindsay Bans of The Lerner Company represented the undisclosed seller in the transaction.

June 24, 2015

Industrial Michigan Midwest

L. Mason Capitani Arranges Sale of 24,000 SF Property in Michigan

by Amy Works June 24, 2015

WARREN, MICH. — L. Mason Capitani Inc. CORFAC has brokered the sale of an industrial property located at 27450 Gloede Drive in Warren. Division 6 Fabrication and Installation acquired the 24,000-square-foot property for an undisclosed price. The buyer plans to use the facility to expand its company needs. Division 6 services the medical, educational, governmental and corporate industries with carpentry and millwork. Andrew Greiner and Jason Capitani of L. Mason Capitani represented the undisclosed seller in the transaction.

June 24, 2015

Illinois Midwest Mixed-Use Multifamily Retail

@properties Commercial Brokers $2.3M Sale of Mixed-Use Property in Illinois

by Amy Works June 24, 2015

EAST VILLAGE, ILL. — @properties Commercial has brokered the sale of a mixed-use property located at 1656 W. Chicago Ave. in East Village. Sedgwick Investments acquired the property for $2.3 million from BP Building. The buyer plans to lease the five residential units and the ground-floor retail space. Lizzie Kaplan of Sedgwick Investments provided in-house representation for the buyer, while Michael Weber and Ian Feinerman of @properties Commercial represented the seller in the transaction.

June 24, 2015

Industrial Texas

Sealy & Co. Acquires 902,715 SF Portfolio in Rio Grande Valley, El Paso

by Haisten Willis June 23, 2015

HARLINGEN AND EL PASO, TEXAS — Sealy & Co., a commercial real estate investment and operating company, has acquired a 902,715-square-foot, Class A industrial portfolio in the Rio Grande Valley and El Paso. Four buildings totaling 758,715 square feet are located in El Paso, and the remaining building totaling 144,000 square feet are located in Harlingen. The portfolio, which is currently 95 percent leased, consists of five buildings developed between 1997 and 2001. The El Paso buildings are located less than five miles from the Zaragoza Bridge, which is the main distribution border crossing between Juarez, Mexico and El Paso.

June 23, 2015

Restaurant Retail Texas

Greysteel Arranges Sale-Leaseback of Schlotzsky’s Restaurant in West Texas

by Haisten Willis June 23, 2015

SWEETWATER, TEXAS — The Greysteel Co.’s Net Leased investment sales team represented the seller, SL60 Holcomb LLC, in the sale-leaseback transaction of a Schlotzsky’s- and Cinnabon-branded restaurant property in Sweetwater. At closing, the seller entered into a new 20-year triple net lease with renewal options. The property is located at an off-ramp of I-20 between Midland and Abilene and also benefits from pass-through traffic from Lubbock and Austin. Greysteel also procured the buyer, Microproperties Acquisitions Co., a privately-held REIT with a particular focus on investing in restaurant properties, as well as sale-leaseback transactions.

June 23, 2015

California Retail Western

Mission Ridge Shopping Center in Manteca Changes Hands

by Nellie Day June 23, 2015

MANTECA, CALIF. – Mission Ridge, a 96,393-square-foot shopping center in Manteca, has sold to Argonaut Investments for an undisclosed sum. The center is located off Highway 120. It is anchored by Safeway and shadow-anchored by Burlington Coat Factory and Walmart. John DuBois, Mark Denholm and Jon Gianulias of Core Commercial represented both the buyer and seller in this transaction.

June 23, 2015

Office Washington Western

Community Health Plan of Washington Leases Space in Downtown Seattle

by Nellie Day June 23, 2015

SEATTLE – Community Health Plan of Washington has leased 91,816 square feet of office space in Downtown Seattle. The space is located at 1111 Third Ave. The local not-for-profit health plan will be relocating from its current space in late 2016. The company was represented by Larry Almeleh and Pat Pendergast of Washington Partners. The landlord, Ivanhoe Cambridge and Callahan Capital Properties, was represented by Lisa Stewart and Jim Allison of Urbis Partners.

June 23, 2015

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