sale1

Marcus & Millichap Arranges $11.3M Sale of Miami Beach Property Leased to 7-Eleven

by Julia Sanders April 12, 2021

MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $11.3 million sale of a 4,370-square-foot retail property leased to 7-Eleven in Miami Beach. Alejandro D’Alba and Scott Sandelin of Marcus & Millichap marketed the property on behalf of the seller, an individual/personal trust known as Armando’s Service Station, Inc. (dba 7/11 Store). The buyer was Power Petroleum Inc, a fuel supplier based in South Florida that distributes multiple brands. The 7-Eleven convenience store is located on 6348 Collins Ave. and has been operating at this location since 2009. The property has a parking lot size of 20,740 square feet.

April 12, 2021

Acquisitions Industrial Texas

DWG Capital Partners Acquires Texas Industrial Property in Sale-Leaseback Transaction

by Taylor Williams April 12, 2021

COLUMBUS, TEXAS — DWG Capital Partners, a Los Angeles-based investment and advisory firm led by Judd Dunning, has acquired 1317 Business Highway 71 N. in Columbus, a light industrial facility located west of Houston. The 35,835-square-foot property was acquired from The Theut Co., a commercial glazing company and a division of Denver Glass Interiors, in a sale-leaseback transaction. Bryan Huber and Michael Soleimani of SAB Capital represented the tenant in the 17-year, absolute triple-net sale-leaseback transaction. Washington Federal Bank provided acquisition financing for the venture.

April 12, 2021

Acquisitions Illinois Midwest Multifamily

Greystone Bel Negotiates Sale of 267-Unit Apartment Portfolio in Chicago

by Kristin Harlow April 12, 2021

CHICAGO — Greystone Bel Real Estate Advisors has negotiated the sale of a five-property multifamily portfolio totaling 267 units in Chicago. The sales price was undisclosed. The buildings are situated in the neighborhoods of Buena Park, Rogers Park, Ravenswood and Lincoln Square. The portfolio sold to three individual investors, who plan to make improvements to the 1920s-era properties. Bill Montana and Chris Sackley of Greystone Bel’s Chicago office represented the seller, a family office.

April 12, 2021

Acquisitions Industrial Maryland Southeast

HLNP Sells Industrial Outdoor Storage Site in Hanover, Maryland for $21.1M

by Julia Sanders April 9, 2021

HANOVER, MD. — HLNP LLC has sold Last-Mile @ BWI, an industrial outdoor storage site located at 1200 Stoney Run Road in Hanover, for $21.1 million. The industrial-zoned land is 100 percent leased and was sold to NorthBridge Partners. Cris Abramson, Brian Kruger, Ben McCarty and Nicholas Signor of Newmark brokered the sale. Located directly adjacent to Baltimore-Washington International Airport (BWI), Last Mile @ BWI sits on 13.6 acres within Baltimore Commons Industrial Park, a 34-building campus spanning 4.1 million square feet. The site includes about nine acres of paved parking and storage and offers the potential to build Class A industrial product in the Baltimore-Washington Corridor.

April 9, 2021

Acquisitions Illinois Industrial Midwest

Colliers Brokers Sale of 503,244 SF Distribution Center in Aurora, Illinois

by Kristin Harlow April 9, 2021

AURORA, ILL. — Colliers International has brokered the sale of Butterfield VI Distribution Center, a 503,244-square-foot facility in Aurora, located about 40 miles west of Chicago. Situated on 34.5 acres at 2350 Frieder Lane, the warehouse features a clear height of 36 feet and parking for 125 trailers and 286 cars. Built in 2020, the property is 66 percent leased to LGSTX Distribution Services. It is located within the larger Butterfield Center for Business and Industry. Jeff Devine and Steve Disse of Colliers represented the seller, a partnership between Sterling Bay Industrial, Development Resources Inc. and Levy Family Partners. An institutional investment advisor purchased the asset for an undisclosed price.

April 9, 2021

Acquisitions Multifamily New Jersey Northeast

Time Equities Acquires Multifamily Portfolio in Trenton for $28.8M

by Taylor Williams April 9, 2021

TRENTON, N.J. — New York City-based Time Equities Inc. has acquired the Trenton Loft Portfolio, a collection of three multifamily buildings totaling 200 units in Trenton, for $28.8 million. The three buildings are located in the Trenton Transit Center/Chambersburg neighborhood. Michael Oliver, Fran Coyne and Jose Cruz of JLL represented the undisclosed seller in the transaction.

April 9, 2021

Acquisitions Arizona Office Western

CBRE Arranges $39.5M Sale of The Mesa Tower in Arizona to CAMCO Investment Group

by Amy Works April 9, 2021

MESA, ARIZ. — CBRE has arranged the sale of The Mesa Tower, a 16-story office building located at 1201 S. Alma School Road in Mesa. Dallas-based CAMCO Investment Group acquired the asset from Barker Pacific Group and Iron Point Partners for $39.5 million. Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller in the deal. Totaling 311,949 square feet, The Mesa Tower comprises the high-rise, Class A office building; an adjacent single-tenant restaurant; and a five-level, above-grade parking structure. The property was originally built in 1986 and most recently renovated in 2018 and 2019. Renovations include enhancements to the lobby, common areas, restrooms and interior building systems, as well as the addition of several speculative suites. At the time of sale, the property was 85 percent leased to a diverse tenant mix.

April 9, 2021

Acquisitions Office Southeast Virginia

JLL Arranges Sale of 14-Story Riverside on the James Office Building in Richmond

by Julia Sanders April 8, 2021

RICHMOND, VA. — JLL Capital Markets has arranged the sale of Riverside on the James, a 263,752-square-foot, Class A office property in Richmond’s central business district. The 14-story property is located at 1001 Haxall Ave. and features views of the James River, an attached six-level parking deck and an onsite fitness center. Chris Lingerfelt, Ryan Clutter and Stephen Conley of JLL represented the seller, Washington, D.C.-based American Real Estate Partners LLC. JLL also procured the buyer, Opal Holdings, which is based in New York City. The sales price was not disclosed. Riverside on the James was 95.3 percent leased at the time of sale. Some of the current tenants were also the original tenants of the building, which was built in 2005.

April 8, 2021

Acquisitions Michigan Midwest Office

L. Mason Capitani Brokers Sale of 110,000 SF Office Building in Bloomfield Hills, Michigan

by Kristin Harlow April 8, 2021

BLOOMFIELD HILLS, MICH. — L. Mason Capitani CORFAC International has brokered the sale of Stoneridge II, an office building located at 40950 Woodward Ave. in Bloomfield Hills. The sales price and seller were undisclosed. The 110,000-square-foot property was recently renovated and was fully leased at the time of sale. Mason L. Capitani of the brokerage firm represented the buyer, LREH Michigan LLC.

April 8, 2021

Acquisitions California Industrial Western

Core5 Industrial Sells 423,665 SF Harvill Business Center in Perris, California

by Amy Works April 8, 2021

PERRIS, CALIF. — Atlanta-based Core5 Industrial Partners has completed the sale of Harvill Business Center, a modern logistics facility in Perris. Black Creek Group bought the asset for an undisclosed price. Completed in early 2020, the 423,665-square-foot property features a Ductilcrete concrete floor slab, 36-foot clear heights, 2.5 percent skylights, LED lighting, a gated concrete truck yard, on-site truck staging and low-water landscaping. American Standard, a subsidiary of Lixil Corp. and a North American plumbing and building products manufacturer, occupies Harvill Business Center on a long-term basis. Michael Chavez of Lee & Associates represented the seller and buyer in the transaction.

April 8, 2021

Newer Posts

Older Posts