sale1

Colliers Brokers Sale of 99,076 SF Industrial Building in Franklin Park, Illinois

by Kristin Harlow January 4, 2021

FRANKLIN PARK, ILL. — Colliers International has brokered the sale of a recently built, 99,076-square-foot industrial building in Franklin Park for an undisclosed price. Located at 9300 King Ave., the property was built on a speculative basis and has not yet been leased. Jeff Devine, Steve Disse and Tom Rodeno of Colliers represented the sellers, Clarius Partners and Wanxiang America Real Estate Group. The buyer, Brookfield Property Group, has retained Colliers to serve as leasing agent for the building.

January 4, 2021

Acquisitions North Carolina Retail Southeast

Palomar Group Arranges $12.3M Sale of Grocery-Anchored Center in Walkertown, North Carolina

by Alex Tostado December 23, 2020

WALKERTOWN, N.C. — Palomar Group has arranged the $12.3 million sale of Walkertown Commons, an 81,432-sqaure-foot shopping center in Walkertown. Lowes Foods anchors the fully leased property, which was originally built in 2004. Walkertown Commons is located at 5180 Reidsville Road, eight miles northeast of downtown Winston-Salem. Ryan McArdle, Steve Collins, David Rivers, Jefferson Knox and Lee Malchow of Palomar Group represented the seller, an undisclosed regional investor, in the transaction. An undisclosed buyer based in South Carolina acquired the asset in a 1031 tax exchange.

December 23, 2020

Acquisitions Multifamily Student Housing Texas

Newmark Brokers Sale of 1,842-Bed Northpoint Crossing Student Housing Community in College Station

by Taylor Williams December 23, 2020

COLLEGE STATION, TEXAS — Newmark has brokered the sale of Northpoint Crossing, a 1,842-bed student housing community serving Texas A&M University in College Station. The 627-unit property was developed in 2014 and 2015 and is located across the street from the north corner of campus. Units feature studio, one-, two-, three- and four-bed floor plans. Amenities include two fitness centers, two computer labs, a 24-hour clubhouse, game rooms, outdoor grilling stations, sauna and steam rooms and a rooftop terrace. Ryan Lang, Jack Brett and Ben Harkrider of Newmark represented the sellers, Woodridge Capital and funds managed by Oaktree Capital Management LP, in the transaction. Both entities are based in Los Angeles. A joint venture between affiliates of global investment manager Ares Management Corp. and New York-based private equity firm Timberline Real Estate Ventures purchased the asset for an undisclosed price.

December 23, 2020

Acquisitions Multifamily Texas

Passco Acquires 338-Unit Lenox Overlook Apartments in San Antonio

by Taylor Williams December 23, 2020

SAN ANTONIO — California-based investment firm Passco Cos. has acquired Lenox Overlook, a 338-unit apartment community in north-central San Antonio. Built in 2019, the property features one-, two- and three-bedroom residences averaging 861 square feet. Units are furnished with stainless steel appliances, quartz countertops, individual washers and dryers and private balconies/patios. Communal amenities include a pool with a sundeck and swim-up bar, indoor and outdoor fitness centers, a dog park with a wash station, clubhouse with billiards and TVs and a business center. Patton Jones of Newmark represented Passco in the transaction. The seller and developer was Austin-based Oden Hughes. Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing on behalf of Passco, which has also rebranded the community as TruNorth at Bulverde.

December 23, 2020

Acquisitions California Industrial Western

LDK Ventures, PCCP Divest of 843,248 SF NorthBay Logistics Center in Vacaville, California

by Amy Works December 23, 2020

VACAVILLE, CALIF. — LDK Ventures and PCCP have completed the disposition of NorthBay Logistics Center in Vacaville. DRA Advisors acquired the asset for an undisclosed price. Situated on 68.8 acres at 700 Crocker Drive, the newly renovated distribution building features 843,248 square feet of cross-dock distribution space, including large concrete truck yards, 32- to 37-foot clear heights, enhanced office areas and gated, secure access. Serena & Lilly occupies 433,950 square feet of the property, while Wineshipping occupies the remaining 404,950 square feet. A large e-commerce company leases a portion of the excess land for trailer storage. Andrew Briner, Bret Hardy, Jim Linn, Kevin Shannon, Steven Golubchik of Newmark represented the sellers. Ramsey Daya, also of Newmark, procured financing for the buyer.

December 23, 2020

Washington-Crossing-Woburn-Massachusetts

Acquisitions Massachusetts Multifamily Northeast

CBRE Brokers Sale of 205-Unit Washington Crossing Apartments in Woburn, Massachusetts

by Taylor Williams December 23, 2020

WOBURN, MASS. — CBRE has brokered the sale of Washington Crossing, a 205-unit apartment community in Woburn, a northern suburb of Boston. Built in 2003, the property consists of four residential buildings, a clubhouse and multiple freestanding carports. Units average 1,063 square feet, and amenities include a heated pool, fitness center, business center and a theater room. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an institutional investor advised by J.P. Morgan Asset Management, in the transaction. The team also procured the buyer, CWMA Baystate LLC.

December 23, 2020

Acquisitions Illinois Industrial Midwest

Sealy Acquires 1.1 MSF Warehouse Near St. Louis

by Kristin Harlow December 22, 2020

EDWARDSVILLE, ILL. — Sealy & Co. has acquired a 1.1 million-square-foot warehouse in Edwardsville near St. Louis for an undisclosed price. The purchase brings the company’s acquisition volume for 2020 to more than $400 million. The Class A facility is located at 3951 Lakeview Corporate Drive within Lakeview Commerce Center. The business park is situated in the Metro East submarket. The building features a clear height of 32 feet, 96 dock doors and 90 trailer stalls. The current tenant has expanded its presence in recent years within Lakeview Commerce Center and occupies three additional properties, one of which Sealy acquired in January of this year. Michael Caprile and Zach Graham of CBRE brokered the sale. Panattoni Development Co. was the seller.

December 22, 2020

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Arranges $8.1M Sale of Multifamily Complex in Maplewood, Minnesota

by Kristin Harlow December 22, 2020

MAPLEWOOD, MINN. — Marcus & Millichap has arranged the $8.1 million sale of Cobblestone Court in Maplewood near Minneapolis. The 74-unit multifamily complex was built in 1968. The three-building property sits on 2.4 acres. Amenities include a pool, picnic area, playground and onsite laundry facilities. Units average 715 square feet. Within the last three years, 42 of the 74 units have received upgrades such as new appliances, countertops and flooring. Evan Miller and Abe Roberts of Marcus & Millichap marketed the property on behalf of the seller, a St. Paul-based property management company. The duo also procured the undisclosed buyer.

December 22, 2020

Acquisitions Illinois Industrial Midwest

SVN Chicago Commercial Brokers Sale of 35,000 SF Industrial Building in Chicago

by Kristin Harlow December 22, 2020

CHICAGO — SVN Chicago Commercial has brokered the sale of a 35,000-square-foot industrial building in Chicago for an undisclosed price. The property, known as the Pierini Iron Works Building, sits on two acres at 6200 S. Sayre Ave. Beverly Hayes and Daniel Vanchieri of SVN brokered the sale.

December 22, 2020

Acquisitions Healthcare Life Sciences Massachusetts Northeast Office

Newmark Brokers $72.5M Sale of One Patriots Park Life Sciences Building Near Boston

by Taylor Williams December 22, 2020

BEDFORD, MASS. — Newmark has brokered the $72.5 million sale of One Patriots Park, a 143,616-square-foot life sciences building in Bedford, about 20 miles northwest of Boston. The property was 66 percent leased at the time of sale to tenants such as Homology Medicines Inc., Novartis and N2 Biomedical. Edward Maher, Matthew Pullen, Samantha Hallowell and Dominick Romano of Newmark represented the sellers, Longfellow Real Estate Partners and Bain Capital Real Estate, in the transaction. The team also procured the buyer, a partnership between Jumbo Capital Management and Iron Point Partners.

December 22, 2020

Newer Posts

Older Posts