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Hanley Investment Group Brokers $4.9M Sale of Retail Building in Fontana, California

by Amy Works June 22, 2020

FONTANA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly constructed, multi-tenant retail building, located at 16914 S. Highland Ave. in Fontana. Adler Realty, a Woodland Hills, Calif.-based developer, sold the asset to a Sun Valley, Calif.-based private investor for $4.9 million. The 7,500-square-foot property consists of three tenants: a Pacific Dental Services-branded dental office, Arrowhead Credit Union and MJ Nail & Spa. The building is located adjacent to Highland Village Shopping Center, a 30,000-square-foot retail center that was completed in 2019. Tenants at Highland Village include Sprouts Farmers Market, Jack in the Box, Raising Cane’s Chicken Fingers, Jersey Mike’s Subs, Café Rio, Oggi’s Restaurant and Mountain View Tire & Auto Service. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Matt Burnett, also of Hanley Investment Group, represented the buyer in the deal.

June 22, 2020

Acquisitions Massachusetts Northeast Office

NKF Brokers $66M Sale of Office Campus in Marlborough, Massachusetts

by Alex Patton June 19, 2020

MARLBOROUGH, MASS. — Newmark Knight Frank (NKF) has brokered the $66 million sale of The Campus at Marlborough, a 531,916-square-foot office campus in Marlborough, about 30 miles west of Boston. Situated on 121 acres at 100 Campus Drive, the complex features four interconnected buildings, including three office buildings and one amenity building. Amenities include a full-service cafeteria, Starbucks coffee shop, fitness center, 300-person auditorium, conference facilities, outdoor seating areas, walking trails and basketball and volleyball courts. At the time of sale, the property was 76 percent leased to a five-tenant roster anchored by the global headquarters of medical technology company Hologic. Robert Griffin, Edward Maher and Matthew Pullen led an NKF team that represented the seller, Houston-based Hines, in the transaction. Greatland Realty Partners was the buyer. Lauren O’Neil, Andrew Gray and Henry Schaffer of JLL arranged acquisition financing through Brookline Bank on behalf of Greatland Realty.

June 19, 2020

Acquisitions Multifamily Texas

Steele Properties, San Antonio Housing Trust Acquire 100-Unit Apartment Complex

by Taylor Williams June 19, 2020

SAN ANTONIO — A partnership between Denver-based investment firm Steele Properties and the San Antonio Housing Trust has acquired Pan American Apartments, a 100-unit affordable housing complex on the city’s west side. Built on 9.5 acres in 1968, the property offers one-, two- and three-bedroom units and an onsite daycare center, playground and laundry room. The new ownership will invest approximately $73,000 per unit in a capital improvements program that will include upgraded roofs, utility systems, parking lots and security measures, as well as new amenity spaces. Units will receive upgraded appliances, countertops, bathrooms and flooring. KeyBank Real Estate Capital provided construction and permanent financing for the acquisition and renovation. The seller was not disclosed.

June 19, 2020

Acquisitions Arizona Multifamily Western

Long Beach Trading Co. Acquires Lyra Residences Rental Townhomes in Phoenix for $8.1M

by Amy Works June 19, 2020

PHOENIX — Long Beach Trading Co. has purchased Lyra Residences, a rental townhome community located at 2950 N. 38th St. in Phoenix. Lyra Residences 38th St LP sold the asset for $8.1 million, or $450,333 per unit. Built in 2020, Lyra Residences features 18 two-story smart homes, averaging 1,778 square feet. The three-bedroom, two-and-one-half-bath townhomes offer private backyards, two-car garages, full-size washers and dryers, high-speed internet, keyless door entry, doorbell cameras and smart climate control, among other technologies. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE’s Phoenix office represented the buyer and seller the transaction.

June 19, 2020

Acquisitions Illinois Midwest Multifamily

SVN Chicago Commercial Brokers $10.6M Sale of Multifamily Community in Chicago

by Kristin Harlow June 18, 2020

CHICAGO — SVN Chicago Commercial has brokered the sale of Baric Commons in Chicago’s West Pullman neighborhood for $10.6 million. The 141-unit multifamily community is located at 232 E. 121st Place. Jeff Baasch and Finley Askin of SVN brokered the transaction. An out-of-state private investment group purchased the asset from an undisclosed seller.

June 18, 2020

Acquisitions Industrial Northeast Pennsylvania

CBRE Brokers Sale of 475,800 SF E-Commerce Facility in Easton, Pennsylvania

by Alex Patton June 18, 2020

EASTON, PA. — CBRE has brokered the sale of LogistiCenter at 33, a 475,800-square-foot e-commerce facility in Easton, an eastern suburb of Allentown. Located at 4200 E. Braden Blvd., the facility was constructed in 2016 and features a clear height of 36 feet. The property is located in the Lehigh Valley submarket and offers convenient access to State Route 33 and Interstate 78. Third-party logistics provider Radial Inc. is the sole tenant of the facility. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller, a partnership that included Pacific Coast Capital Partners LLC, in the transaction. The buyer and sales price were not disclosed.

June 18, 2020

Acquisitions Industrial Texas

Bellomy Brokers Sale of 501-Unit Self-Storage Property in Taylor, Texas

by Taylor Williams June 18, 2020

TAYLOR, TEXAS — Bellomy & Co. has brokered the sale of Taylor Hutto Self Storage, a 501-unit facility located in the Central Texas city of Taylor. The property features climate- and non-climate-controlled units, as well as covered boat and RV parking space. The facility spans 60,605 square feet of net rentable space and was 86 percent leased at the time of sale. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, an unnamed company based in Plainfield, Ill., in the sale. The buyer was not disclosed.

June 18, 2020

Acquisitions California Retail Western

Atlas Properties Negotiates $9.9M Acquisition of Cardenas Grocery in Victorville, California

by Amy Works June 18, 2020

VICTORVILLE, CALIF. — A private Orange County, Calif.-based developer has completed the disposition of a retail property located at 14528 Palmdale Road in Victorville. A private 1031-exchange investor acquired the building for $9.9 million. Cardenas, a Hispanic grocery store, occupies the asset. Bill Bauman, Kyle Miller, Michael Fogel and Matt Schwartz of Newmark Knight Frank represented the seller, while Ed Barkett of Atlas Properties represented the buyer in the deal.

June 18, 2020

Acquisitions Industrial New Jersey Northeast

BentallGreenOak Acquires Industrial Facility in Franklin, New Jersey, for $164M

by Alex Patton June 17, 2020

FRANKLIN, N.J. — Canadian developer BentallGreenOak has acquired a 925,000-square-foot industrial facility in Franklin, approximately 50 miles northwest of New York City. Located at 50 Veronica Ave., the facility was fully leased to LG Electronics USA at the time of sale. The building features a clear height of 40 feet, 170 trailer parking spots, 159 dock positions, four drive-in ramps and 394 car spaces. It offers convenient access to the New Jersey Turnpike and Interstate 287. LG Electronics USA signed a seven-year lease of the entire building in April. Gary Gabriel, Andrew Merin and Kyle Schmidt of Cushman & Wakefield represented the seller, a partnership between Crow Holdings Industrial and The Carlyle Group, in the transaction.

June 17, 2020

Acquisitions Multifamily Texas

Banyan Residential, Marble Capital Acquire Lofts at the Ballpark in Downtown Houston

by John Nelson June 17, 2020

HOUSTON — Banyan Residential and financial partner Marble Capital have purchased Lofts at the Ballpark, a 375-unit apartment community located one block from Minute Maid Park and BBVA Stadium in downtown Houston. Built in 2001 by Houston-based Hanover Co., the four-story building is located at 610 Saint Emanuel St. and features one- and two-bedroom floor plans. Community amenities include a 24-hour business center, grills, spin room, game room, internet café with a coffee bar, movie theater and two swimming pools and sundecks. Lofts at the Ballpark is the first acquisition in the Houston market for Los Angeles-based Banyan Residential. The seller and sales price were not disclosed.

June 17, 2020

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