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Element-at-University-Park-College-Station

One Real Estate Acquires 192-Unit Element at University Park Apartments in College Station

by Taylor Williams May 14, 2020

COLLEGE STATION, TEXAS — Miami-based One Real Estate Investment has acquired Element at University Park, a 192-unit apartment community located about two miles from Texas A&M University in College Station. Built in 2000, the property features one- and two-bedroom units with stainless steel appliances and individual washers and dryers. Amenities include a business center, courtyard, tennis court and picnic area. Mitch Sinberg and Brad Williamson of Berkadia originated a 10-year Freddie Mac acquisition loan for the transaction. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia secured Electra Capital as an equity partner.

May 14, 2020

Acquisitions Illinois Midwest Restaurant Retail

Historic Restaurant Property in Chicago’s Lincoln Square Sells for $3.1M

by Kristin Harlow May 14, 2020

CHICAGO — SVN Chicago Commercial has arranged the sale of the Chicago BrauHaus restaurant property for $3.1 million. The historic building is located at 4732 N. Lincoln Ave. within Chicago’s Lincoln Square. Tim Rasmussen and Marcus Sullivan of SVN represented the buyer, GW Properties. Matt Feo of Essex Realty Group represented the sellers, Harry and Guenter Kempf, who are longtime owners of the Chicago BrauHaus. The restaurant closed in late 2017 after 52 years.

May 14, 2020

Acquisitions Georgia Industrial Southeast

JLL Arranges $33.5M Sale of Distribution Center Near Atlanta Airport

by Alex Tostado May 13, 2020

EAST POINT, GA. — JLL has arranged the $33.5M Sale of Creekside Distribution Center, a 538,500-square-foot property in East Point. Developed in 2016, the property is situated on 32 acres at 2110-2135 Lawrence Ave., five miles north of Hartsfield-Jackson Atlanta International Airport and seven miles southwest of downtown Atlanta. The property features 32-foot clear heights, concrete tilt-wall construction, 85 dock-high doors, five drive-in doors and ESFR fire suppression. Dennis Mitchell, Britton Burdette, Matt Wirth and Brent Bono of JLL represented the seller, a joint venture between Solution Property Group and Singerman Real Estate, in the transaction. Summit Real Estate Group purchased the asset.

May 13, 2020

Acquisitions Affordable Housing Multifamily Texas

JLL Negotiates Sale of 844-Unit Affordable Housing Portfolio in San Antonio

by Taylor Williams May 13, 2020

SAN ANTONIO — JLL has negotiated the sale of a portfolio of five garden-style affordable housing properties totaling 844 units in San Antonio. The portfolio includes the 120-unit Roselawn Apartments; the 160-unit Spanish Spur Apartments; the 160-unit Villas of Pecan Manor; the 308-unit Westwood Plaza Apartments and the 96-unit Winston Square Apartments. The properties were built between 1960 and 1976 and feature an average unit size of 769 square feet across the portfolio. Moses Siller and Zar Haro of JLL represented the seller, locally based investment firm Terravista Partners, and procured the buyer, Pico Union Housing Corp. Anson Snyder of JLL arranged acquisition financing on behalf of the new ownership.

May 13, 2020

Acquisitions Arizona Industrial Western

NAI Horizon Negotiates $7M Sale of Corbins Electric Corporate Headquarters in Phoenix

by Amy Works May 13, 2020

PHOENIX — NAI Horizon has arranged the sale of the Corbins Electric corporate headquarters, an industrial property located at 4829 S. 38th St. in Phoenix. Staffield Family LLC acquired the asset from ML Commercial Properties for $7 million. The building features 52,744 square feet of industrial space. Lane Neville and Logan Crum of NAI Horizon represented the buyer, while Clint Hardison and Blake Hardison of Keyser represented the seller in the transaction.

May 13, 2020

Acquisitions Delaware Northeast Office

CBRE Arranges Sale of 210,088 SF Office Building in Wilmington, Delaware

by Alex Patton May 12, 2020

WILMINGTON, DEL. — CBRE has arranged the sale of a 210,000-square-foot, Class A office building in Wilmington, approximately 30 miles southwest of Philadelphia. Located at 824 N. Market St., the 10-story property was constructed in 1982 and was 67 percent leased at the time of sale. U.S. Bankruptcy Court for the District of Delaware occupies 65,941 square feet of the building, which is located across the street from Wilmington’s U.S. District Courthouse. Jerry Kranzel, Robert Fahey, Erin Hannan and Jack Corcoran of CBRE represented the undisclosed seller in the transaction. New Jersey-based investor Chopp Holdings was the buyer.

May 12, 2020

Acquisitions Office Texas

Capital Commercial Buys 1.4 MSF Former American Airlines Headquarters Campus in Fort Worth

by Taylor Williams May 12, 2020

FORT WORTH — Austin-based Capital Commercial Investments (CCI) has purchased the former headquarters campus of American Airlines and American Airlines Federal Credit Union in Fort Worth. The 40-acre campus features approximately 1.4 million square feet of office space across three buildings and is located just three miles from DFW International Airport. An underground pedestrian tunnel connects all three buildings. Mike Hardage, Alan Harrington, Steve McCoy and Brooks Creech of Transwestern worked with Troy Barron of Weston Commercial Real Estate to facilitate the transaction. Transwestern will also take over leasing and management of the property. American Airlines began moving into its new $350 million Fort Worth headquarters, known as Skyview 8, last fall. Jim Neil, Duke Stone, Trip Neil and John Bell of Churchill Capital arranged acquisition financing for the transaction with the Boxer Property team of Andrew Segal and John Rentz. The Capital Commercial Investments team was led by Doug Agarwal (CEO / Founder) and Robb Buchanan (EVP). The loan was provided within 17 days of term sheet execution in order to meet CCI’s closing deadline on April 30th, 2020.

May 12, 2020

Acquisitions Michigan Midwest Retail

SRS Brokers $4.6M Sale of Aldi-Occupied Property in Suburban Detroit

by Kristin Harlow May 12, 2020

CLAWSON, MICH. — SRS Real Estate Partners has brokered the $4.6 million sale of an 18,549-square-foot property occupied by Aldi in Clawson, a northern suburb of Detroit. The building serves as an anchor to the larger Clawson Shopping Center, which is home to Staples, Rite Aid and Dollar Tree. Patrick Luther and Matt Mousavi of SRS represented the seller, a Texas-based real estate holding company. Frank Rogers and Michael Carter of SRS represented the buyer, a Midwest-based private investor completing a 1031 tax-deferred exchange. The sales price represents a cap rate of 5 percent.

May 12, 2020

Parkway Woods Business Park Industrial Asset Wilsonville Oregon

Acquisitions Industrial Oregon Western

ScanlanKemperBard Sells 378,300 SF Parkway Woods Business Park in Wilsonville, Oregon

by Amy Works May 12, 2020

WILSONVILLE, ORE. — ScanlanKemperBard (SKB) has completed the disposition of Parkway Woods Business Park, a suburban industrial/office campus situated on more than 70 acres at 26600 SW Parkway Ave. in Wilsonville. Reinsurance Group of America (RGA) acquired the property from Parkway Woods Business Center LLC, a joint venture between SKB and Oaktree Capital, for an undisclosed price. The 378,300-square-foot asset is currently a mixed-use business park featuring amenities such as on-site public transportation, a lounge, fitness facility, newly renovated lobby, on-site snack shop, rotating food trucks, disc golf course, basketball court and outdoor space. Nick Kucha, James Childress, Jeff Hodson, Kevin Shannon and James Ikeguchi of Newmark Knight Frank represented the seller, while the buyer was self-represented in the deal. SKB will stay as a partner in the investment to help execute the repositioning of the property. RGA and SKB plan to reposition the three-building property’s large floor plates to meet the needs and size requirements of a variety of light industrial, manufacturing and R&D tenants. The site also includes more than 4.5 acres of developable land that could accommodate 85,000 square feet of industrial space.

May 12, 2020

Acquisitions New Jersey Northeast Office Retail

Kislak Co. Arranges $11.6M Sale of Office, Retail Property in South Orange, New Jersey

by Alex Patton May 11, 2020

SOUTH ORARGE, N.J. — Kislak Co. Inc. has arranged the $11.6 million sale of South Orange Square, a 31,000-square-foot office and retail property located on the western outskirts of New York City. Located at 67-81 S. Orange Ave. and 3-11 Scotland Road, the property includes 21,000 square feet of ground-floor retail space, 9,000 square feet of second-story office space and 1,000 square feet of storage rooms. At the time of sale, the property was 98 percent leased to tenants including Verizon, Investors Bank and the South Orange Pharmacy. Meridian Capital Group arranged acquisition financing through Spencer Savings Bank on behalf of the undisclosed buyer. Joni Sweetwood of Kislak represented the seller, which was also undisclosed.

May 11, 2020

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