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Hanley Investment Group Arranges $11.4M Sale of Three-Tenant Retail Property in Metro Minneapolis

by Kristin Harlow January 25, 2022

COON RAPIDS, MINN. — Hanley Investment Group Real Estate Advisors has arranged the $11.4 million sale of Riverdale Village in the Minneapolis suburb of Coon Rapids. Constructed in 2021, the property consists of a 4,150-square-foot building with a drive-thru occupied by Bank of America and a two-tenant, 6,700-square-foot building occupied by Famous Dave’s and Banfield Hospital. The asset serves as an outparcel to Menards. Jeff Lefko and Bill Asher of Hanley, along with Robert Wise of CBRE, represented the seller, Florida-based OneCorp Global. Boston Weir of Henry Group Real Estate represented the buyer, a Colorado-based private investor completing a 1031 exchange.

January 25, 2022

Acquisitions New Jersey Northeast Office

CBRE Negotiates $260.6M Sale of Sanofi Headquarters in Bridgewater, New Jersey

by Taylor Williams January 25, 2022

BRIDGEWATER, N.J. — CBRE has negotiated the $260.6 million sale of a 675,000-square-foot office complex in the Northern New Jersey community of Bridgewater. The property houses the North American headquarters of French pharmaceutical giant Sanofi, which has committed to the building through 2032. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer, Zach McHale and Michael Monahan of CBRE represented the seller, American Finance Trust, in the transaction. The team also procured the buyer, California-based AVG Partners.

January 25, 2022

Acquisitions California Multifamily Western

Gelt Acquires Volta on Pine Apartment Property in Downtown Long Beach for $156M

by Amy Works January 25, 2022

LONG BEACH, CALIF. — Gelt has purchased Volta on Pine, a multifamily community in downtown Long Beach, from a joint venture between Holland Partner Group and North America Sekisui House for $156 million. Located at 635 Pine Ave., Volta on Pine features 93 studios, 94 one-bedroom units, 66 two-bedroom units and 18 three-bedroom units with an average size of 849 square feet. Eleven of the units are designated as affordable housing. Apartments feature quartz countertops, stainless steel appliances, wood-style flooring, full-size washers/dryers, Nest thermostats and modern cabinetry. Community amenities include a rooftop terrace with barbecue grills; executive conference and meeting rooms; a courtyard with fire pit; resort-style pool and sundeck with spa; outdoor grilling areas with smart TVs; a fitness center; parcel lockers; bike storage; and a fully equipped catering kitchen. Blake Rogers, Hunter Combs, Alexandria Caniglia and Javier Rivera of Walker & Dunlop represented the seller, while Gelt was self-represented in the deal.

January 25, 2022

Acquisitions Industrial Texas

NAI Robert Lynn Brokers Sale of Two Industrial Buildings Totaling 400,000 SF in Irving

by Taylor Williams January 24, 2022

IRVING, TEXAS — NAI Robert Lynn has brokered the sale of two adjacent industrial buildings totaling approximately 400,000 square feet in Irving. According to LoopNet Inc., the property at 2205-2255 E. Pioneer Drive totals 271,406 square feet, and the building at 600 N. Wildwood Drive spans 133,205 square feet and was built in 1975. Chase Miller and Robert Blankinship of NAI Robert Lynn represented the undisclosed seller and procured the buyer, Dallas-based CanTex Capital, in the transaction.

January 24, 2022

Acquisitions California Retail Western

Brixmor Property Group Purchases Brea Gateway Center Retail Asset in Orange County for $85.7M

by Amy Works January 24, 2022

BREA, CALIF. — Brixmor Property Group has acquired Brea Gateway Center, a grocery- and drug-store-anchored retail center located at 101-407 W. Imperial Highway in Brea. An institutional investor sold the asset for $85.7 million. Brea Gateway Center comprises of 13 parcels on 12.5 acres offering a total of 181,891 square feet of retail space. At the time of sale, the property was 97.9 percent occupied. Current tenants include Ralphs, HomeGoods, Cost Plus World Market, Mattress Firm, Taco Bell and Panda Express. Gleb Lvovich, Bryan Ley, Geoff Tranchina and Daniel Tyner of JLL Retail Capital Markets represented the seller in transaction.

January 24, 2022

Acquisitions Illinois Industrial Midwest

ML Realty Partners Acquires 1 MSF Industrial Portfolio Across Greater Chicago Area

by Kristin Harlow January 24, 2022

CHICAGO — ML Realty Partners has acquired a 1 million-square-foot industrial portfolio in metro Chicago for an undisclosed price. The portfolio consists of 15 buildings within the I-55 corridor, Central DuPage, Lake County and O’Hare submarkets. The transaction also includes five shovel-ready land sites totaling 40 acres in the I-55 corridor and an additional five acres in Lake County. Jeff Devine, Steve Disse and Mike Senner of Colliers represented the undisclosed seller.

January 24, 2022

Acquisitions Industrial Maryland Southeast

Newmark Brokers $30M Sale of Two Industrial Properties in Jessup, Maryland

by Julia Sanders January 21, 2022

JESSUP, MD. — Newmark has brokered the $30 million sale of 8215 and 8220 Wellmoor Court, two industrial warehouse buildings totaling 191,700 square feet within Baltimore Washington Industrial Park in Jessup. Christopher Abramson, Brian Kruger, Ben McCarty, Nicholas Signor and Erik Evans of Newmark represented both the seller, Spector Family LLC, and the buyer, Berkley Partners. Both properties were fully leased at the time of sale. Built in 2006, 8215 Wellmoor Court is a 79,600-square-foot warehouse and distribution building situated on six acres. Building features include approximately 2,000 square feet of office space, 28-foot clear heights, six dock-high loading doors and an ESFR sprinkler system. The property’s tenants include Archive Systems and Big 10 Tires. Built in 1972, 8220 Wellmoor Court is a 112,150-square-foot warehouse situated on 10.4 acres. Property features include 25-foot clear heights, 20 external loading doors, 60 surface parking spaces and a fenced lot. The property’s tenants include Acme Paper and Giant Foods.

January 21, 2022

Acquisitions California Retail Western

Gerrity Group Sells Gateway Center Retail Property in Mission Viejo, California to DJM Capital for $39.5M

by Amy Works January 21, 2022

MISSION VIEJO, CALIF. — Gerrity Group has completed the disposition of Gateway Center, a retail destination in Orange County’s Mission Viejo. San Jose-based DJM Capital acquired the asset for $39.5 million. Completed in 1979, Gateway Center features 79,001 square feet of retail space. Current tenants include Starbucks Coffee, Cold Stone Creamery, Subway, Baja Fresh, Happy Minds Academy, Oggi’s, San Diego Credit Union, Gateway Liquor, Dance Daly Ballroom, Fit Pilates, Thai Body Works, Saddleback Urgent Care, Sweet Pediatric Dental and French’s Pastry. The property is located on 7.3 acres at 23972-24042 Alicia Parkway. Gleb Lvovich, Bryan Ley and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the transaction. Jeff Sause and John Marshall of JLL Debt Placement arranged a three-year, floating-rate acquisition loan for the buyer.

January 21, 2022

Acquisitions Illinois Midwest Multifamily

JVM Realty Acquires 297-Unit Luxury Apartment Community in Itasca, Illinois

by Kristin Harlow January 21, 2022

ITASCA, ILL. — JVM Realty Corp. has acquired The Residences at Hamilton Lakes in Itasca, a northwest suburb of Chicago. The purchase price and seller were not released. The 297-unit luxury apartment community is located at 1133 N. Arlington Heights Road. Built in 2017, the property rises four stories with studio, one-, two- and three-bedroom floorplans. Amenities include a fitness center, pool, gourmet kitchen, outdoor patio space, theater and a rejuvenation center complete with a hot tub, steam room and sauna. This is the sixth acquisition for JVM Realty in the Chicagoland area. The company’s portfolio consists of 19 communities across four states.

January 21, 2022

Acquisitions Multifamily Texas

Independence Commercial Advisors Negotiates Sale of 256-Unit Apartment Community in San Antonio

by Taylor Williams January 21, 2022

SAN ANTONIO — Locally based brokerage firm Independence Commercial Advisors (ICA) has negotiated the sale of Atrium Commons, a 256-unit apartment community located on the north side of San Antonio. The property was built in 1983 and features studio, one- and two-bedroom units. Amenities include a pool, fitness center, clubhouse and a dog park. Michael Moffitt of ICA represented the seller, a Texas-based limited liability company, in the transaction. The buyer and sales price were not disclosed.

January 21, 2022

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