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NKF Brokers Sale of 332-Unit Hillstone at Wolf Ranch Apartments in Metro Austin

by Taylor Williams July 2, 2020

GEORGETOWN, TEXAS — Newmark Knight Frank (NKF) has brokered the sale of Hillstone at Wolf Ranch, a 332-unit apartment community located in the northern Austin suburb of Georgetown. Built in 2018, the Class A property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park, game room and walking/biking trails. Patton Jones of NKF represented the seller, Dallas-based Leon Capital Group, in the transaction. The buyer was Virginia-based Weinstein Properties, which will rebrand the community as Bexley Wolf Ranch.

July 2, 2020

Acquisitions Industrial Nevada Self-Storage Western

CBRE Brokers $4.6M Sale of RDN Mini Storage in North Las Vegas

by Amy Works July 2, 2020

NORTH LAS VEGAS, NEV. — CBRE has arranged the sale of RDN Mini Storage, a seven-building self-storage facility in North Las Vegas. California-based Watling Street acquired the asset from Nevada-based Piclane for $4.6 million. Located at 725 W. Washburn Road, the 36,520-square-foot property consists of 304 units with 24-hour video surveillance cameras. Nick Walker, Walter Brauer and Trevor Roberts of CBRE represented the seller in the deal.

July 2, 2020

Acquisitions Illinois Industrial Midwest

NAI Hiffman Brokers $7.5M of Cold Storage Facility in Chicago

by Kristin Harlow July 2, 2020

CHICAGO — NAI Hiffman has brokered the sale of a 42,000-square-foot cold storage building in Chicago’s Brighton Park neighborhood for $7.5 million. In conjunction with the sale, NAI Hiffman also negotiated a six-year lease with the sole tenant, Moesle Meat Co. Built in 2016, the property is located at 5115 S. Millard Ave. John Basile of NAI Hiffman represented the buyer, Chicago-based Karis Cold Storage, a newly launched private investment and development company.

July 2, 2020

Acquisitions Industrial Northeast Pennsylvania

Colliers Arranges Sale of 40,000 SF Warehouse in Levittown, Pennsylvania

by Alex Patton July 1, 2020

LEVITTOWN, PA. — Colliers International has arranged the sale of a 40,000-square-foot warehouse in Levittown, a southern suburb of Trenton, for an undisclosed price. The Class C building is located at 1901 Hartel St. and was constructed in 1969. The property offers immediate access to the Pennsylvania Turnpike and Interstate 95. Jim Scott of Colliers represented the buyer, family-owned tire service company McCarthy Tire. Scott also represented the undisclosed seller.

July 1, 2020

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale-Leaseback of 215,729 SF Elbit Systems Industrial Facility in Fort Worth

by Taylor Williams July 1, 2020

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale-leaseback of the U.S. headquarters of defense electronics firm Elbit Systems of America. The 215,729-square-foot manufacturing and office campus is located in Fort Worth. The property was built on 25 acres in 1980 and has been leased to Elbit Systems since 1993 on a triple-net basis. An undisclosed pension fund advisor purchased the campus from Elbit Systems as part of a portfolio sale that also included the defense contractor’s manufacturing plant in Roanoke, Va. Adam Abushagur of Marcus & Millichap handled the sale of the Texas facility.

July 1, 2020

Acquisitions Affordable Housing Midwest Minnesota Multifamily

JLL Arranges $17.4M Sale of Affordable Housing Property in Duluth, Minnesota

by Kristin Harlow July 1, 2020

DULUTH, MINN. — JLL Capital Markets has arranged the $17.4 million sale of Greysolon Plaza in Duluth in eastern Minnesota. The 150-unit affordable housing property features one-bedroom floor plans. Greysolon Plaza is a historic building that formerly housed the Hotel Duluth. Orbach Affordable Housing Solutions (OAHS) purchased the asset from Sherman Associates. Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller. OAHS plans to acquire 2,000 units in Minnesota, New York, New Jersey and Pennsylvania over the next 12 months.

July 1, 2020

Acquisitions Illinois Industrial Midwest

Venture One Acquires 100,562 SF Industrial Building in Mundelein, Illinois

by Kristin Harlow July 1, 2020

MUNDELEIN, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 100,562-square-foot industrial building in Mundelein, about 40 miles north of Chicago. The purchase price was undisclosed. The single-tenant building was fully leased at the time of sale. Built in 1973, the property sits on four acres at 111 Washington Blvd. It features a clear height of 18 feet, 10 docks and one drive-in door. Marc Samuels of Cushman & Wakefield represented the undisclosed seller in the transaction. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.

July 1, 2020

Acquisitions Michigan Midwest Office

L. Mason Capitani Brokers Sale of 70,000 SF Office Building in Troy, Michigan

by Kristin Harlow July 1, 2020

TROY, MICH. — L. Mason Capitani CORFAC International has brokered the sale of a 70,000-square-foot office building located at 550 Stephenson Highway in Troy. The sales price was undisclosed. The multi-tenant property was 97 percent leased at the time of sale. Mason L. Capitani, a principal with the brokerage firm, represented the buyer, California-based LREH Michigan LLC. L. Mason Capitani will oversee leasing efforts moving forward while the company’s affiliate, Liberty Property & Asset Management, will serve as property manager.

July 1, 2020

Acquisitions Georgia Multifamily North Carolina South Carolina Southeast

Ambling Sells 20-Property Multifamily Portfolio in Georgia, Carolinas for $106M

by Alex Tostado June 30, 2020

VALDOSTA, GA. — Ambling has sold a 20-property affordable housing multifamily portfolio spanning Georgia, North Carolina and South Carolina for $106 million. The portfolio totals 1,763 units and sold to three separate buyers. Preservation Partners Development purchased 12 communities in Georgia. Six of the communities are currently undergoing substantial rehabilitation that will include updated interiors, as well as updated and improved community spaces. Infinity Real Estate Advisors LLC acquired two North Carolina properties and five South Carolina communities. Jonathan Rose Cos. acquired a property in Savannah, Ga. Doug Childers, Michael Fox and Ryan Clutter of JLL represented the Valdosta-based seller in the transaction.

June 30, 2020

Acquisitions Delaware Northeast Retail

Lululemon Acquires Digital Exercise Platform Mirror for $500M

by Alex Patton June 30, 2020

DOVER, DEL. — Lululemon Athletica Inc., a provider of athletic apparel that is based in Vancouver, British Columbia but incorporated in Delaware, has acquired digital exercise platform Mirror for $500 million. The startup fitness concept, which launched in 2018, sells a digital mirror with a camera, speakers and virtual metrics that allow users to participate in live fitness classes from home. Mirror will bolster Lululemon’s digital offerings and bring personalized in-home workouts to customer, according to Lululemon. Mirror instructors will also wear the company’s workout apparel. Lululemon reopened 60 percent of its stores and reported net revenue of $652 million in its fiscal first quarter, which ended May 3. That figure represents a 17 percent decline from $785 million during the same period a year ago. Lululemon’s stock price opened at $294.35 per share on Monday, June 29, up from $180.21 per share a year ago.

June 30, 2020

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