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JLL Brokers Sale of Two-Building Retail Property in Downtown Milwaukee

by Kristin Harlow April 29, 2020

MILWAUKEE — JLL Capital Markets has brokered the sale of the Downer Avenue Retail Collection, two buildings that house 60,986 square feet of retail, office and residences in the heart of downtown Milwaukee. The sales price was undisclosed. Built in 1916, Downer East is home to Stone Creek Coffee, F45, Breadsmith, Downer Cleaners, Café Hollander, Downer Wine & Spirits and Robert Laurence Salon & Spa. Completed in 1912, Downer West features two multifamily units in addition to retail and office space occupied by Landmark Theatres, Pizza Man, Henry’s, Salon Nova, Optix on Denver, Boswell Book Co. and Starbucks. Both buildings were renovated in 2006. Amy Sands, Clinton Mitchell and Janice Sellis of JLL represented the seller, C-III Asset Management. Bridge33 Capital was the buyer.

April 29, 2020

Acquisitions California Office Western

JLL Negotiates Sale of 315,000 SF Office Asset in Pasadena

by Amy Works April 29, 2020

PASADENA, CALIF. — JLL Capital Markets has directed the sale of 101 S. Marengo, a Class A office property in Pasadena. Terms of the transaction were not released. Originally built in 1974, the 315,000-square-foot property was occupied by a single tenant that vacated last year. The asset is now available for a full renovation building to create a multi-tenant environment. Situated on 2.9 acres, the transit-oriented site is one block from the Los Angeles Metro Gold line and close proximity to Pasadena 101, Venture 134 and Foothill 210 freeways. Michael Leggett, Andrew Harper, Will Poulsen and Patrick Church of JLL represented the undisclosed seller in the deal.

April 29, 2020

Acquisitions New Jersey Northeast Retail

Cushman & Wakefield Brokers $31.5M Sale of Shopping Center in Lawnside, New Jersey

by Alex Patton April 28, 2020

LAWNSIDE, N.J. — Cushman & Wakefield has brokered the $31.5 million sale of Lawnside Commons, a 151,000-square-foot retail property in Lawnside, a southwestern suburb of Philadelphia. Home Depot anchors the center, which is located at 310 White Horse Pike, and the tenant roster includes PetSmart, Wendy’s, T-Mobile and Mattress Firm. Andrew Merin, David Bernhaut and Gary Gabriel led a Cushman & Wakefield team that represented the undisclosed seller. The team also procured the buyer, a joint venture between MCB Real Estate LLC and United Hampshire US REIT.

April 28, 2020

Acquisitions Multifamily Texas

NorthMarq Arranges Sale of 396-Unit Vineyards at Arlington Apartments

by Taylor Williams April 28, 2020

ARLINGTON, TEXAS — NorthMarq has arranged the sale of Vineyards at Arlington, a 396-unit apartment community that consists of 31 buildings across 16.4 acres in the middle of the DFW metroplex. The property was built in 1985 and offers amenities such as a pool, racquetball court, theater, resident clubhouse, playground, picnic area and a dog park. Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq represented the seller, a partnership between two limited liability companies. The buyer, Pegasus Real Estate LLC, plans to implement a value-add program. Stephen Whitehead, Lauren Bresky and William Hancock of NorthMarq arranged acquisition financing and an equity partner for the buyer.

April 28, 2020

Acquisitions California Office Western

Voit Real Estate Brokers $14.5M Sale-Leaseback of Office Property in San Diego

by Amy Works April 28, 2020

SAN DIEGO — Voit Real Estate Services Private Client Group has arranged the sale of a two-building office asset located in San Diego’s City Center neighborhood. San Diego State University Research Foundation sold the property to Casey Brown Cos. for $14.5 million. The off-market transaction was structured as a sale-leaseback, through which the seller signed a five-year lease with one five-year extension option. Kipp Gstettenbauer and Ryan King of Voit represented the sellers. Voit Real Estate Services also represented the buyer in the deal. The property includes two of the largest office buildings on El Cajon Boulevard and a four-story, 149-stall parking structure.

April 28, 2020

Acquisitions Healthcare Illinois Midwest Wisconsin

HSA PrimeCare Sells Four-Building Medical Office Portfolio in Illinois, Wisconsin

by Kristin Harlow April 27, 2020

ILLINOIS AND WISCONSIN — HSA PrimeCare, the national healthcare real estate division of HSA Commercial Real Estate, has sold a four-building medical office portfolio to Irvine, Calif.-based IRA Capital. The buildings, spanning a total of 107,828 square feet, are located in Illinois and Wisconsin. HSA PrimeCare will continue to manage the assets on behalf of IRA. Mike Wilson and Erik Foster of Avison Young represented HSA PrimeCare in the transaction. The properties include: Advocate Good Samaritan South in Downers Grove, Ill.; Hawthorn Surgery Center in Vernon Hills, Ill.; Advocate Aurora Health Beverly Clinic in Chicago; and Advocate Aurora Health Muskego Clinic in Muskego, Wis. IRA Capital is a private equity firm that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices and individuals. IRA primarily invests in commercial real estate assets throughout the United States, with an overweight concentration within the medical/healthcare sector.

April 27, 2020

Acquisitions Michigan Midwest Retail

Mid-America Arranges Sale of Roseville Towne Center in Suburban Detroit

by Kristin Harlow April 27, 2020

ROSEVILLE, MICH. — Mid-America Real Estate Corp. has arranged the sale of Roseville Towne Center in Roseville, about 15 miles north of Detroit. The sales price was undisclosed. The 89,883-square-foot shopping center is home to Marshalls, CVS Pharmacy, Five Below and Dollar Tree. Ben Wineman, Carly Gallagher Kelly and Daniel Stern of Mid-America represented the seller, Cincinnati-based Viking Partners. Ferris Hamama of Keystone Commercial Real Estate represented the buyer, a private investor completing a 1031 exchange.

April 27, 2020

Acquisitions Civic Michigan Midwest

Eastern Michigan University Unveils Plan to Relocate College of Business to Central Campus

by Kristin Harlow April 27, 2020

YPSILANTI, MICH. — Eastern Michigan University has unveiled plans to relocate the College of Business to its central campus. The move includes the selling of the Gary Owens Building, present home of the College of Business. The Board of Regents approved the sale of the 122,000-square-foot building to River Caddis Development for $2.7 million. Boone Hall will serve as the new location for the College of Business. The building will undergo a renovation beginning in April 2021, but the building’s size will remain at 45,210 square feet. The relocation will reduce utility, maintenance and transportation costs that the university currently incurs by housing the College of Business away from central campus.

April 27, 2020

Acquisitions Multifamily Texas

Sun Holdings Group Acquires 330-Unit Apartment Community in San Antonio

by Taylor Williams April 27, 2020

SAN ANTONIO — Houston-based Sun Holdings Group has acquired Tradehouse at Bulverde Marketplace, a 330-unit apartment community located within the 104-acre Bulverde Marketplace mixed-use development in north central San Antonio. Built in 2018, the property features one- and two-bedroom units with dark wood cabinetry, stainless steel appliances and quartz countertops. Amenities include a pool with outdoor kitchens, a fitness center, billiards room and a social lounge. David Roth of Matthews Real Estate Investment Services represented the seller, The NRP Group, an Ohio-based development and investment firm, in the transaction. Cutt Abelson of Berkadia arranged an undisclosed amount of Freddie Mac acquisition financing for the transaction.

April 27, 2020

Acquisitions California Multifamily Western

Matthews Real Estate Negotiates $9.7M Sale of Apartment Building in Los Angeles

by Amy Works April 27, 2020

LOS ANGELES — El Segundo, Calif.-based Matthews Real Estate Investment Services has arranged the sale of a residential property located at 12626 Matteson Ave. in Los Angeles. An undisclosed buyer acquired the asset for $9.7 million. The name of the seller was not released. Built in 1988 in Los Angeles’ Westside neighborhood, the building features 20 units in a mix of two-bedroom and four-bedroom apartments with lofts. Kyle Mirrafati of Matthews Real Estate represented the buyer and seller in the deal.

April 27, 2020

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