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Capstone Arranges $8M Sale of Manufactured Housing Portfolio in St. Louis

by Kristin Harlow October 28, 2020

ST. LOUIS — Capstone Manufactured Housing has arranged the sale of a 204-site manufactured housing portfolio in St. Louis for $8 million. The portfolio consists of two mobile home parks located on the southwest side of the city, Eagle Creek and Cedar Hill. Combined, the two parks were 95 percent occupied at the time of sale. Kevan Enger, Ian Hilpl and Brian Hummell of Capstone represented the seller, local investor Tony Stieren. The West Coast-based buyer plans to hold on to the assets for the long term, according to Capstone.

October 28, 2020

Acquisitions Colorado Multifamily Western

Nexus Commercial Realty Brokers $8.7M Sale of Townhouse Apartments in Colorado Springs

by Amy Works October 28, 2020

COLORADO SPRINGS, COLO. — Nexus Commercial Realty has arranged the sale of The Townhouse Apartments, an 88,100-square-foot property located at 3125 E. Fountain Blvd and 1215 Shasta Drive in Colorado Springs. The community traded hands for $8.7 million. The names of the buyer and seller were not released. Built in 1965, the townhome-style property features 54 units in a mix of two- and three-bedroom layouts. Each unit includes a private yard, while some include second-floor balconies. The buyer plans to renovate the property and complete the unfinished basements to potentially add an additional unit to each townhome. Patrick Knowlton of Nexus represented the buyer and seller in the deal.

October 28, 2020

Acquisitions Maryland Office Southeast

NKF Arranges Sale of Six-Building Office Portfolio in Columbia, Maryland

by Alex Tostado October 27, 2020

COLUMBIA, MD. — Newmark Knight Frank (NKF) has arranged the sale of a six-building, 253,079-square-foot office portfolio in Columbia. At the time of the sale, the properties were leased to more than 20 tenants, including Liberty Mutual Insurance, AXA, Howard Chamber of Commerce and State Farm. The portfolio is located at 6200-6250 Old Dobbin Lane, 16 miles southwest of downtown Baltimore. Richmond, Va.-based real estate investment bank John B. Levy & Co. and an affiliate of Fernau LeBlanc Investment Partners acquired the portfolio for an undisclosed price. Cris Abramson, Nicholas Signor and Ben McCarty of NKF represented the undisclosed seller in the transaction.

October 27, 2020

Acquisitions Illinois Midwest Ohio

Investcorp Acquires 32 Industrial Properties in Illinois, Ohio

by Kristin Harlow October 27, 2020

ILLINOIS AND OHIO — Investcorp has acquired 32 industrial properties totaling approximately 3.5 million square feet across four U.S. markets. The value of the acquired properties was more than $280 million. The assets are 96 percent leased and consist of a variety of Class A and B warehouse, distribution and flex industrial buildings. Tenants work in the healthcare, logistics, e-commerce, telecommunications and food service industries. Most of the properties are located in Chicago and Cleveland but others are situated in Columbus and Cincinnati. The acquisition grows Investcorp’s U.S. industrial portfolio to roughly $2 billion with 22 million square feet across 260 buildings.

October 27, 2020

Acquisitions Indiana Midwest Office

Marcus & Millichap Brokers $1.1M Sale of Office Building in Fort Wayne, Indiana

by Kristin Harlow October 27, 2020

FORT WAYNE, IND. —Marcus & Millichap has brokered the sale of a 7,631-square-foot office building in Fort Wayne for $1.1 million. The property is located at 1020 E. Dupont Road. It was fully occupied by two tenants at the time of sale. In 2018, the property underwent improvements such as new LED lighting, HVAC units, carpet and a roof replacement. Jordan Klink and Nick Weaver of Marcus & Millichap’s The Klink Group marketed the asset on behalf of the seller, a Fort Wayne-based limited liability corporation. Agents from Marcus & Millichap’s San Diego office represented the undisclosed buyer.

October 27, 2020

Acquisitions Massachusetts Northeast Office

JLL Negotiates $72M Sale of 228,912 SF Office Building in Boston

by Taylor Williams October 27, 2020

BOSTON — JLL has negotiated the $72 million sale of a 228,912-square-foot creative office building located at 20 Guest St. in Boston. Designed by architecture firm ADD Inc. and completed in 2000, the property is located near the Boston Landing mixed-use development and was fully leased to seven tenants at the time of sale. Coleman Benedict, Kerry Hawkins and Ben Sayles of JLL represented the seller, NB Development Group, in the transaction. The buyer was a partnership between Griffith Properties LLC and Artemis Real Estate Partners.

October 27, 2020

Acquisitions California Industrial Western

Oaktree Capital, Intertex Cos. Sell Two-Building Industrial Park in Southern California for $22M

by Amy Works October 27, 2020

SYLMAR, CALIF. — Oaktree Capital Management and Intertex Cos., through managed funds, have completed the sale of a two-building industrial park located at 12744 San Fernando Road in Sylmar. Rexford Industrial Realty acquired the asset for $22 million. Situated on 6.5 acres, the property features 140,837 square feet of industrial space. At the time of sale, the asset was 56 percent occupied by two tenants. Kevin Shannon, Sean Fulp, Bret Hardy, Jim Linn and Ryan Plummer of Newmark represented the sellers, while the buyer was self-represented in the transaction.

October 27, 2020

Acquisitions Office Texas

Colliers Brokers Sale of 198,788 SF Preston Park Office Complex in Plano

by Taylor Williams October 26, 2020

PLANO, TEXAS — Colliers International has brokered the sale of Preston Park, a 198,788-square-foot office complex in Plano. The two-building, 12-acre complex was built in 1997 and recently renovated to upgrade lobbies, common areas, tenant lounges and conference centers. California-based Libitzky Property Cos. and Dallas-based Sunwest Real Estate Group sold the property to Florida-based TerraCap Management for an undisclosed price. Creighton Stark and Chris Boyd of Colliers brokered the deal. Both buildings were approximately 90 percent leased at the time of sale.

October 26, 2020

Acquisitions Connecticut Northeast Retail

Newmark Negotiates Sale of 760,000 SF Stamford Town Center in Connecticut

by Taylor Williams October 26, 2020

STAMFORD, CONN. — Newmark has negotiated the sale of the 760,000-square-foot Stamford Town Center, an urban mall in the city’s downtown area that was built in 1982 and houses approximately 100 tenants. According to the Stamford Advocate, the sales price was $20.1 million. The sale includes an additional 10 acres and a 3,500-space parking garage. Christian Bangert of Newmark represented the buyer, Yaraghi Realty, a division of family-owned furniture provider Safavieh, in the transaction. Christopher Hoffmann and Steven Livaditis of Eastdil Secured represented the seller, Taubman Centers. Anchor tenants at Stamford Town Center, which is located just two blocks north of Interstate 95, include Macy’s, Saks Fifth Avenue OFF 5th, H&M and Barnes & Noble.

October 26, 2020

Acquisitions Northeast Office Pennsylvania

Cushman & Wakefield Arranges Sale of 250,000 SF Office Building in Allentown, Pennsylvania

by Taylor Williams October 26, 2020

ALLENTOWN, PA. — Cushman & Wakefield has arranged the sale of 2100 Mack Boulevard, a 250,000-square-foot office building in Allentown, located in the Lehigh Valley region. The six-story property is situated on 22 acres and features an auditorium, fully equipped fitness center and a full-service cafeteria. Lehigh Valley Health Network has occupied the building since 2009; prior to that, the property served as the headquarters for Mack Trucks. Andy Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt, Frank DiTommaso, Seth Zuidema and Gerry Blinebury of Cushman & Wakefield represented the seller, J.G. Petrucci Co., in the transaction. BHN Associates purchased the asset for an undisclosed price.

October 26, 2020

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