sale1

Brentwood-Shopping-Center-Los-Angeles-CA

Weiss Development Sells Brentwood Shopping Center in Los Angeles for $30M

by Amy Works January 14, 2022

LOS ANGELES — Weiss Development has completed the disposition of Brentwood Shopping Center, a retail property located at 11674-11690 San Vicente Blvd. in Los Angeles. Fields Holdings acquired the asset for $30 million in an off-market transaction. Tenants at the 14,789-square-foot center include Chipotle, Juice Crafters, Planet Beauty, Juan Juan Salon, Coffee Bean & Tea Leaf, Harry’s Wine and Spirits, Winston Pies and Claudio D’Italio. Bill Bauman and Kyle Miller represented the seller in the deal.

January 14, 2022

Acquisitions Florida Multifamily Southeast

Berkadia Arranges $97.5M Sale of Apartment Community in Orlando

by Julia Sanders January 13, 2022

ORLANDO, FLA. — Berkadia has arranged the sale of West Vue, a 442-unit, garden-style apartment community in Orlando. A joint venture between New York-based Phoenix Realty Group and Prospect Capital acquired the property for $97.5 million. Matt Wilcox, Brett Moss, Tyler Swidler and Cole Whitaker of Berkadia represented the Jacksonville-based seller, RISE: A Real Estate Co. Built in 2021, West Vue offers one-, two- and three-bedroom floorplans with units ranging from 759 square feet to 1,369 square feet. Unit features include nine-foot ceilings, wood-plank style flooring, pendant lights, stainless steel appliances, granite countertops, center island with breakfast bar seating, side-by-side refrigerators, walk-in closets, walk-in showers, dual vanities, full-sized washer and dryers, balconies and screened-in patios. Community amenities include two swimming pools with sun shelves and private cabanas, a 24-hour clubhouse with Wi-Fi, media and game lounge, rentable private offices and study spaces, 24-hour fitness center, yoga studio, courtyards, dog park, children’s playground and a summer kitchen with grills. The property was 65.2 percent occupied at the time of sale. Located within the 1,800-acre master-planned MetroWest community, West Vue is situated close to Walgreens, 24 Hour Fitness, Wawa and an under-construction Bravo grocer. Located at 5915 Raleigh St., the property is …

January 13, 2022

Acquisitions Mixed-Use Nevada Office Restaurant Retail Western

3D Investments Acquires Tivoli Village Mixed-Use Development in Las Vegas for $216M

by Amy Works January 13, 2022

LAS VEGAS — Beverly Hills, Calif.-based 3D Investments has purchased Tivoli Village, an open-air, mixed-use property located at 400 S. Rampart Blvd. in Las Vegas. Property and Building Corp. and IDB Group USA sold the asset for $216 million. Built in 2009 and 2016, Tivoli Village features 669,406 square feet of Class A office, retail and restaurant space across 28 acres. Additionally, the property includes an 8.3-acre development parcel entitled for more than 300 residential units. Marlene Fujita Winkel of Cushman & Wakefield’s Las Vegas office represented the seller in the deal. Dave Alleman of Marquis Aurbach Coffing served as counsel for the seller.

January 13, 2022

Acquisitions California Retail Western

Pine Tree Buys 154,049 SF Glendale Marketplace in California for $64M

by Amy Works January 12, 2022

GLENDALE, CALIF. — Northbrook, Ill.-based Pine Tree, in partnership with a U.S. state pension fund, has purchased Glendale Marketplace in downtown Glendale for $64 million. The name of the seller was not released. A mix of national credit tenants occupy the 154,049-square-foot property, including LA Fitness, HomeGoods, Ross Dress for Less, Five Below, Buffalo Wild Wings and Old Navy. JLL Capital Markets brokered the transaction. The acquisition brings Pine Tree’s shopping center portfolio footprint in the Los Angeles area to 1.1 million square feet.

January 12, 2022

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Arranges $132.6M Sale of Multifamily Community in Metro Atlanta

by Julia Sanders January 12, 2022

SANDY SPRINGS, GA. — Cushman & Wakefield has arranged the sale of Park at Abernathy Square, a 484-unit apartment community located in Sandy Springs, about 16.4 miles north of downtown Atlanta. The sales price was $132.6 million, or more than $274,000 per unit. Mike Kemether, Travis Presnell and James Wilber of Cushman & Wakefield represented the seller, Atlanta-based Clark Ventures, in the transaction. San Francisco-based Stockbridge Capital Group acquired the property. Built in 1977 and renovated in 2019, Park at Abernathy Square offers one-, two- and three-bedroom floorplans with an average unit size of more than 1,100 square feet. Unit features include walk-in closets, patios and balconies, granite countertops, stainless steel appliances, pantries, dishwashers and washer and dryer hookups. Community amenities include a clubhouse, pool, laundry facilities, tennis court, picnic area, fitness center, business center, playground and a car charging station. Located at 6925 Roswell Road, the property is located off Ga. Highway 400 and is situated close to Buckhead, Roswell and Alpharetta. The apartment community is also 5.9 miles from Georgia Perimeter College and 3.1 miles from the Art Institute of Atlanta.

January 12, 2022

Acquisitions Indiana Midwest Retail

JLL Brokers Sale of 150,163 SF Shopping Center in Fort Wayne, Indiana

by Kristin Harlow January 12, 2022

FORT WAYNE, IND. — JLL Capital Markets has brokered the sale of Apple Glen Crossing in Fort Wayne for an undisclosed price. The 150,163-square-foot property is an open-air power center anchored by Best Buy and Dick’s Sporting Goods. Apple Glen Crossing is 94 percent leased. Additional tenants include Shoe Carnival, PetSmart, Ulta Beauty, Cali Nails and Sports Clips. Built in 2000, the property sits on 17 acres along Apple Glen Boulevard. Amy Sands, Clinton Mitchell, Michael Nieder and Tim Murry of JLL represented the seller, Brixmor Property Group. Berengaria Development, the real estate arm of Marcus Investments LLC, was the buyer.

January 12, 2022

Acquisitions Florida Multifamily Southeast

JLL Arranges $84.7M Sale of Multifamily Community on Florida’s Space Coast

by Julia Sanders January 11, 2022

WEST MELBOURNE, FLA. — JLL Capital Markets has arranged the sale of The Haven at West Melbourne, a three-story, garden-style multifamily community located in West Melbourne. JT Capital purchased the Space Coast property for $84.7 million. Ken Delvillar and Jay Ballard of JLL represented the seller, Irvine, Calif.-based Passco Cos., in the transaction. Melissa Marcolini Quinn, Lee Weaver, Rob Rothaug and Emily Moallem of JLL represented the borrower in arranging an undisclosed amount of debt and equity financing for the acquisition. The Haven at West Melbourne includes 13 buildings total, and offers one-, two- and three-bedroom floorplans with an average unit size of 1,164 square feet. Unit features include full-sized washers and dryers, walk-in closets, window coverings, nine-foot ceilings, hardwood-style vinyl flooring, granite countertops and private balconies or sunrooms. Community amenities include a pool and sundeck, outdoor gourmet kitchen, fitness center, business center, children’s play park, billiards room, sand volleyball court, dog park and a car care center. Located at 4550 Explorer Drive, the property is situated close to employers including L3Harris, Collins Aerospace, Northrop Grumman, Patrick Air Force Base, Lockheed Martin and Blue Origin. The property is also situated 5.3 miles from downtown Melbourne, 3.4 miles from the Florida …

January 11, 2022

Acquisitions Arizona Multifamily Western

Monarch Investment Sells 410-Unit Apartment Community in Tucson for $65.5M

by Amy Works January 11, 2022

TUCSON, ARIZ. — Monarch Investment and Management Group has completed the disposition of Yardz on Kolb, an apartment complex located in Tucson. Greenwater Real Estate Management acquired the asset for $65.5 million, or $159,756 per unit. Constructed between 1972 and 1974 on 17-plus acres, Yardz on Kolb features 410 garden-style apartments. Hamid Panahi and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

January 11, 2022

Acquisitions Life Sciences Midwest Missouri

Cushman & Wakefield Arranges $92M Sale of Life Sciences Building in St. Louis

by Kristin Harlow January 11, 2022

ST. LOUIS — Cushman & Wakefield has arranged the sale of EDGE@BRDG in St. Louis for $92 million. The 151,829-square-foot life sciences building is fully leased and serves as the headquarters of Benson Hill Biosystems, a food technology company. Completed in 2020, the property features office and lab space as well as a test kitchen, sterilization station and walk-in refrigeration units. The building is located at 1001 N. Warson Road within 39 North, a 600-acre district anchored by the Donald Danforth Plant Science Center. Michael Hanrahan, Josh McGee and Josh King of Cushman & Wakefield represented the seller, Larson Capital Management. Chicago-based Harrison Street Real Estate Capital was the buyer.

January 11, 2022

Acquisitions Multifamily New York Northeast

JLL Negotiates Sale of 504-Unit Apartment Community in Nanuet, New York

by Taylor Williams January 11, 2022

NANUET, N.Y. — JLL has negotiated the sale of Alister Nanuet, a 504-unit apartment community in Nanuet, located about 30 miles north of Manhattan. The property features an average unit size of 1,208 square feet and amenities such as a pool, tennis court, fitness center, dog park, clubhouse and outdoor grilling and picnic areas. Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O’Hearn and Michael Zlotnick of JLL represented the undisclosed seller in the transaction. New York City-based Cammeby’s purchased the asset for an undisclosed price.

January 11, 2022

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