REBusinessOnline

Avison Young Negotiates Acquisition of 156,937 SF Gifford Business Park in San Bernardino, California

SAN BERNARDINO, CALIF. — Avison Young has arranged the purchase of Gifford Business Park, a multi-tenant industrial property in San Bernardino. A Southern California-based private investor acquired the asset from Phoenix-based Gifford Business Park LLC for $21.1 million.Alan Pekarcik and Chris Smith of Avison Young represented the buyer in the transaction.Built in 1989 on 11.5 acres, the seven-building property features 156,937 square feet of industrial space. At the close of escrow, …

Equity Partnership Holdings Purchases Apartment Building in Omaha for $12.5M

OMAHA, NEB. — Equity Partnership Holdings LLC (EPH) has purchased Dundee Flats in Omaha for $12.5 million. Built in 2019, the Class A property consists of 62 apartment units and two commercial spaces. Located at the corner of 49th and Dodge streets, the building is within walking distance to the University of Nebraska Medical Center. A new Omaha Rapid Bus Transit station is situated directly in front of the property. The acquisition marks EPH’s second transaction in Omaha this year, and its …

Trammell Crow, Diamond Realty Sell 1 MSF Valley View Trade Center in Jessup, Pennsylvania

JESSUP, PA. — A joint venture between Dallas-based Trammell Crow Co. and Diamond Realty Investments has sold Valley View Trade Center, a roughly 1 million-square-foot distribution center in Jessup, a northern suburb of Scranton. Built on a speculative basis in 2020, Valley View Trade Center features a clear height of 40 feet, truck court depths of 190 feet, an ESFR sprinkler system, 311 trailer parking spots, 277 car parking spots and 159 dock positions. Michael Hines, Brian Fiumara, Brad …

Joint Venture Sells Motion at Dadeland Apartments in Miami for $114M

MIAMI — Adler Group and 13th Floor Investments, in partnership with Barings LLC, has sold Motion at Dadeland, a transit-oriented multifamily development in Miami. Maryland-based Lerner Enterprises purchased the 25-story property for $114 million. Located at 8400 South Dixie Highway, Motion at Dadeland features 294 market-rate rental apartments and approximately 8,000 square feet of retail space adjacent to the Dadeland North Metrorail station and the Dadeland Station retail center. Built …

Versity Investments Acquires Apartment Community in Central Florida for $89M

CELEBRATION, FLA. — Versity Investments LLC has acquired Astoria, a 306-unit multifamily property located in Celebration, for $89 million. CGI+ Real Estate Strategies sold the 306-unit community in a 1031 exchange. Astoria is the first multifamily acquisition for Versity and was 97.1 percent occupied at the time of sale, according to Blake Wettengel of Versity.Built in 2015, Astoria is situated on 14.4 acres and features one-, two- and three-bedroom units. Community amenities include a …

Avison Young Brokers $14.6M Sale of Industrial Building in Charlotte

CHARLOTTE, N.C. — Avison Young has brokered the sale of a 128,000-square-foot industrial building located at 2345 Township Road in Charlotte, about 9.9 miles from downtown Charlotte. The sales price was $14.6 million. The seller and buyer were not disclosed.The industrial building is fully leased by Magellan Aviation Group, a global supplier of aftermarket aircraft products and services. Built in 2000, this property features pre-cast panel construction, an ESFR sprinkler system and …

Group RMC Acquires 491,092 SF Office Building in Houston’s Galleria District

HOUSTON — Group RMC, a New York City-based investment firm focused on the office sector, has acquired a 491,092-square-foot building located at 5718 Westheimer Road in Houston’s Galleria District. The 22-story building was renovated in 2017 and offers a fitness center and a full-service café. Kevin McConn and Rick Goings of JLL represented the undisclosed seller in the transaction. John Ream, also with JLL, arranged an undisclosed amount of floating-rate acquisition financing through Sound …

Klingbeil Capital Buys 137-Unit Avery at TownCentre Apartments in Brentwood, California for $49.5M

BRENTWOOD, CALIF. — Columbus, Ohio-based Klingbeil Capital Management has purchased Avery at TownCentre, a two-story apartment community in Brentwood. ConAm sold the asset for $49.5 million.Jason Parr, Scott MacDonald, John Hansen, Michael Bissada and Sydney Ladrech of Cushman & Wakefield’s Multifamily Advisory Group in Northern California represented the seller in the deal.Comprising 13 buildings, Avery at TownCentre features 137 apartments in a mix of 56 one-bedroom units, 68 …

NAI Mertz Arranges Sale of 160,000 SF Stow Road Corporate Park in Marlton, New Jersey

MARLTON, N.J. — NAI Mertz has arranged the sale of Stow Road Corporate Park, a 160,000-square-foot industrial flex development in the Southern New Jersey community of Marlton. The five-building complex is located off State Highway 73, within a few miles of the New Jersey Turnpike. The buyer, a subsidiary of Philadelphia-based Velocity Venture Partners, plans to rebrand the property as Velocity Business Park and add about 20 loading positions and drive-in doors to enhance the functionality of …

MDH Partners Acquires 1.3 MSF Industrial Portfolio in Bedford Park, Illinois

BEDFORD PARK, ILL. — MDH Partners has acquired a 1.3 million-square-foot industrial portfolio in Bedford Park, an industrial suburb of Chicago. The purchase price was undisclosed. The portfolio comprises six buildings and one trailer lot. The buildings range in size from 120,000 to 380,000 square feet and feature clear heights from 22 to 28 feet. The portfolio is 96 percent leased to seven tenants, including Heligear Acquisition Co., Trimark Marlinn, Power Stop, Nexus Distribution, Westrock …

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