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Gelt Acquires The Oasis Anaheim Apartment Community in California for $146.5M

by Amy Works September 15, 2021

ANAHEIM, CALIF. — Gelt, a Los Angeles-based, value-add real estate investor, has purchased The Oasis Anaheim, a transit-oriented apartment property in the northeast area of Anaheim. Redhill Realty Investors sold the asset for $146.5 million. Built in 2009 on 5.2 acres, The Oasis Anaheim features 312 apartments spread across two four- and five-story buildings in a mix of loft, townhome, one- and two-bedroom layouts. On-site amenities include a resort-style pool, fitness center/yoga studio, clubhouse, recycling services, a business center, barbecue grills and 626 parking spaces. The community is located at 3530 E. La Palma Ave. Sean Deasy, Ryan Fitzpatrick and Chelsea Jervis of JLL represented the buyer and seller in the transaction.

September 15, 2021

Acquisitions Industrial Louisiana Southeast

Stirling Properties Purchases 140,000 SF Pepsi Distribution Center in Livingston, Louisiana

by Julia Sanders September 15, 2021

LIVINGSTON, LA. — Stirling Properties has purchased the Pepsi Distribution Center, a 140,000-square-foot industrial facility located at 28517 S. Front Road in Livingston. Heck Realty/Raymond Heck sold the property for an undisclosed price. Built in 2016, the Pepsi Distribution Center sits on 15 acres and is located along the Interstate 12 corridor. The facility is fully occupied by PepsiCo. Inc. and serves as a logistics hub for PepsiCo brands, including Gatorade, Frito-Lay, Starbucks and Mountain Dew. The facility services the greater Baton Rouge, New Orleans and southeast Louisiana areas. Townsend Underhill of Stirling Properties will serve as the asset manager for the property. Beezie Landry, Justin Langlois and Chad Rigby of Stirling Investment Advisors, a division of Stirling Properties, handled the sales transaction.

September 15, 2021

Acquisitions Retail Texas

Cushman & Wakefield Arranges Sale of 464,722 SF Alamo Ranch Shopping Center in San Antonio

by Taylor Williams September 15, 2021

SAN ANTONIO — Cushman & Wakefield has arranged the sale of Alamo Ranch, a 464,722-square-foot retail power center in San Antonio. Tenants include Best Buy, Dick’s Sporting Goods, Ross Dress for Less, Marshalls, Michaels, Ulta Beauty, PetSmart and OfficeMax. In addition, Super Target, Lowe’s Home Improvement and J.C. Penney shadow-anchor the center. Margaret Jones, Lane Breedlove, Chris Harden and Kris Von Hohn of Cushman & Wakefield brokered the deal on behalf of the undisclosed seller. Big V Property Group acquired Alamo Ranch for an undisclosed price.

September 15, 2021

Acquisitions Healthcare Midwest Wisconsin

HSA PrimeCare Acquires 16,513 SF Medical Office Building in Wauwatosa, Wisconsin

by Kristin Harlow September 15, 2021

WAUWATOSA, WIS. — HSA PrimeCare, the healthcare real estate division of Chicago-based HSA Commercial Real Estate, has acquired a 16,513-square-foot medical office building in Wauwatosa near Milwaukee. Located at 3040 N. 117th St., the property is 95 percent occupied with approximately 825 square feet of leasable space. Tenants include Ascension Medical Group, which uses the location to provide a range of women’s health services, and Children’s Medical Group, which is owned by Children’s Wisconsin. Both tenants have operated from the building since it opened in 2007. Tom Shepherd and Adam Connor of Colliers International represented the undisclosed seller.

September 15, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of Rio Vista Apartments in Metro Fort Worth

by Taylor Williams September 14, 2021

HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of Rio Vista, a 246-unit apartment community located in the northeast Fort Worth suburb of Haltom City. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Florida-based Greenwater Investments, and procured the buyer, an unnamed investment firm based in California. Built in 1968, Rio Vista’s apartments feature one- and two-bedroom floor plans that range in size between 684 and 1,016 square feet, according to Apartments.com. Communal amenities include two resort-style pools, a courtyard, playground, dog park and a soccer field. Greenwater invested approximately $4 million to renovate Rio Vista prior to the sale.

September 14, 2021

Acquisitions Industrial Massachusetts Northeast

JLL Brokers Sale of 47,915 SF Industrial Property in Malden, Massachusetts

by Taylor Williams September 14, 2021

MALDEN, MASS. — JLL has brokered the sale of a 47,915-square-foot light industrial property in Malden, located north of Boston. Originally built in 1958, the facility was fully leased at the time of sale to Enjet Aero, a provider of custom turbine and jet engine components. JLL represented the seller, Eastern Real Estate, in the transaction. Michael Restivo and Jonathon Schneider of JLL arranged a five-year, fixed-rate acquisition loan through Middlesex Savings Bank on behalf of the buyer, Boston-based Novaya Real Estate Ventures.

September 14, 2021

Acquisitions Midwest Missouri Retail

Stan Johnson Co. Brokers Sale of 81,185 SF Summit Orchards Shopping Center Near Kansas City

by Kristin Harlow September 14, 2021

LEE’S SUMMIT, MO. — Stan Johnson Co. has brokered the sale of Summit Orchards Shopping Center in Lee’s Summit near Kansas City. The sales price was undisclosed. The newly built property, which spans 81,185 square feet, was fully leased at the time of sale to tenants such as Aldi, HomeGoods, Ross Dress for Less and Five Below. Margaret Caldwell, Patrick Kelley, Jason Powell and Max Van Dresser of Stan Johnson represented the seller, Townsend Summit, an affiliate of Townsend Capital, which is a Maryland-based investor and developer. Jenel Real Estate, a private family office based in New York, was the buyer.

September 14, 2021

Acquisitions California Multifamily Western

Gemdale USA Sells Madison at Town Center Apartment Complex in Valencia, California for $62M

by Amy Works September 14, 2021

VALENCIA, CALIF. — Gemdale USA has completed the disposition of The Madison at Town Center, a multifamily property in Valencia. Fairfield Residential acquired the asset for $62 million, or $476,923 per unit. Built in 2003, The Madison at Town Center features 130 apartments, a heated swimming pool, fitness center, internet café and 24-hour maintenance concierge. The property offers 16 different floor plans, ranging from one- to three-bedrooms, with in-unit washers and dryers, walk-in closets, upgraded appliances, gallery-style track lighting with spotlight, soaking tubs and single vanities. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

September 14, 2021

Acquisitions California Industrial Life Sciences Mixed-Use Top Stories Western

Oxford Properties Group Acquires Industrial Park in Metro LA for $133.5M

by John Nelson September 14, 2021

SANTA CLARITA, CALIF. — Oxford Properties Group, a real estate investment and management firm based in Toronto, has purchased Santa Clarita Innovation Park, a 14-building campus situated on 118.5 acres in the Los Angeles suburb of Santa Clarita. Funds managed by Oaktree Capital Management and Intertex Cos. sold the property, which was formerly known as Mann Biomedical Park, for $133.5 million. The acquisition of Santa Clarita Innovation Park falls in line with Oxford’s investment strategy as it is leased to various distribution users and life sciences firms such as Boston Scientific and Bioness. Oxford aims to have 45 to 60 percent of its assets-under-management portfolio to be in life sciences, industrial and residential real estate by 2025. In addition to distribution and life sciences, Santa Clarita Innovation Park includes some offices, a childcare facility and Wolf Creek Brewery. Additionally, the acquisition includes development rights for approximately 40 acres within the park. “Substantially growing our life sciences and industrial businesses represents our highest conviction investment strategies and top priorities at Oxford,” says Chad Remis, executive vice president of North America at Oxford. “The acquisition of Santa Clarita Innovation Park, and its additional development capacity, uniquely provides us with flexibility to build …

September 14, 2021

Acquisitions Indiana Industrial Midwest

JLL Brokers $114M Sale of 1.5 MSF Distribution Center in Metro Indianapolis

by Kristin Harlow September 13, 2021

FRANKFORT, IND. — JLL Capital Markets has brokered the sale of a 1.5 million-square-foot distribution center in the Indianapolis-area community of Frankfort for $114 million. The facility was completed in 2015 as a build-to-suit for food and beverage maker ConAgra Brands, which fully occupies the property. Building features include a clear height of 34 feet, 125 dock-high doors, four drive-in doors, 853 trailer parking stalls and 10 rail docks serviced by CXS and Norfolk Southern. John Huguenard and Kurt Sarbaugh of JLL represented the seller, Founders Properties LLC. W. P. Carey purchased the 180-acre property.

September 13, 2021

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