NEW YORK CITY — Global One Real Estate Fund II, an affiliate of locally based investment firm Nelson Management Group, has acquired The John Adams, 115-unit apartment building in the Forest Hills neighborhood of Queens. The sales price was $26.5 million. The six-story building offers proximity to several public transit lines and amenities such as bike storage space, package lockers and onsite laundry facilities. The seller was not disclosed.
BIG RAPIDS, MICH. — The Boulder Group has brokered the $1.8 million sale of a 24,034-square-foot property occupied by Harbor Freight in Big Rapids, about 60 miles north of Grand Rapids. The single-tenant building is located at 408 Perry Ave. Harbor Freight, a discount tool retailer, recently signed a 10-year lease for the newly renovated building. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based real estate firm. A Midwest-based buyer purchased the asset.
CARLSBAD, CALIF. — BLT Enterprises has purchased an industrial life sciences property located at 2827 Whiptail Loop West in Carlsbad. RPG sold the asset for $40.4 million. Completed in 2019, the 146,100-square-foot property features 30-foot clear heights, eight dock-high doors, four grade-level doors, 4,000 amps of power, Grade B, C, D classification clean rooms, a dedicated lab exhaust system, a vacuum pump system and a PH neutralization system. SAFC Carlsbad Inc. fully occupies the property. The tenant is a subsidiary of Merck KGaA, a multinational pharmaceutical, life sciences, research and development company headquartered in Darmstadt, Germany.
NOBLESVILLE, IND. — Birge & Held has acquired Northlake Village in Noblesville for an undisclosed price. The 348-unit apartment property is located at 1100 Northlake Drive near I-69. The community has undergone interior renovations for 273 of its 348 units. Renovations to the clubhouse and leasing office have also been completed and an outdoor kitchen has been added. Steve LaMotte Jr., Dane Wilson and Alex Possick of CBRE represented the seller, Buckingham Cos.
LIVE OAK, TEXAS — Miami-based Atlantic | Pacific Cos. has acquired Mira Loma Apartments, a 378-unit multifamily community located in Live Oak, a northeastern suburb of San Antonio. Built in 2008, the property features one-, two- and three-bedroom units ranging in size from 628 to 1,364 square feet. Amenities include a pool, outdoor kitchen, 24-hour fitness center and an indoor basketball court. Atlantic Pacific acquired the asset through its Blue Atlantic Partners Fund III, a private equity fund. The seller was not disclosed.
BENSALEM, PA. — California-based Adler Realty Investments Inc. has acquired Bensalem Crossing, a 67,215-square-foot retail center located on the northeastern outskirts of Philadelphia, for $11.5 million. The center is leased to three tenants: anchor and grocer ShopRite, CVS and a wireless telecommunications provider. Jim Galbally, Chris Munley and Colin Behr of JLL represented the New York City-based seller in the transaction. Chad Orcutt, Brian Halpern and Mike Pagniucci of JLL arranged $7.1 million in acquisition financing on behalf of Adler Realty.
AUSTIN, TEXAS — New York-based investment firm Castle Lanterra Properties has acquired The Triangle, a 529-unit apartment community in downtown Austin for $129 million, or roughly $244,000 per unit. The property, which was built between 2006 and 2008, is part of a mixed-use development that offers retail and restaurant space and proximity to the city’s education and technology hubs. Units come in studio, loft, one-, two- and three-bedroom formats and are equipped with stainless steel appliances, granite or quartz countertops, individual washers and dryers and private balconies. Residential amenities include three pools, a fitness center, communal kitchen, conference center, coffee bar, dog park and fire pits. The seller was not disclosed.
NASHUA, N.H. — Matthews Real Estate Investment Services has brokered the $7.7 million sale of an 83,500-square-foot retail property that is leased to Ashley Furniture Homestore in Nashua, a city located near the Massachusetts-New Hampshire border. The property was built in 2015. Chuck Evans of Matthews represented the undisclosed seller in the transaction. Additional terms of sale were not disclosed.
LOUISVILLE, COLO. — Berkeley Partners has acquired a multi-tenant industrial building located at 333-335 Centennial Parkway in Louisville. DPC Cos. and Long Wharf Capital sold the asset for $49 million. Situated on 24.9 acres, the 411,485-square-foot building features dock-high and drive-in loading, heavy power, sprinklers, 28-foot clear heights, ample parking and fiber connectivity. At the time of sale, the building was fully leased to six tenants. Last year, the property underwent building improvements, including a new roof, improved entries, an updated façade and new monument signage. The building was originally constructed in 1995. Tyler Carner, Jeremy Ballenger, Jim Bolt, Jessica Osternick and Jeremy Kroner of CBRE’s Denver and Boulder, Colo., offices represented the sellers.
FISHERS, IND. — Hanley Investment Group Real Estate Advisors has negotiated the sale of the Bonn Building in Fishers within suburban Indianapolis. Although the sales price was undisclosed, the transaction marks the third for Hanley in the state of Indiana in the last five months for a total consideration of $12.2 million. Dylan Mallory and Corey Olson of Hanley represented the Toledo-based seller and developer, Republic Development. A Bloomington, Ind.-based private investor purchased the asset. Built in 2007, the Bonn Building sits on 2.3 acres at E. 131st St. within Saxony, a 3.5 million-square-foot office and industrial development. The Bonn Building was 92 percent leased at the time of sale to a mix of retail, food service, healthcare and office tenants.
