sale1

Local Investor Acquires 28,187 SF Office Building at Chandler Airpark in Arizona

by Amy Works April 8, 2020

CHANDLER, ARIZ. — Scottsdale, Ariz.-based Chandler Commercial Building B, a local private investor, has purchased the Vertex Education building, a single-story office building located at 3125 S. Gilbert Road in Chandler. Locally based Chandler CSO LLC sold the property for an undisclosed price. Situated within Chandler Airpark, the 28,187-square-foot Class A office building was developed in 2018 for Vertex Education, Arizona’s K-8 charter management organization. Currently, the company operates 18 schools throughout Arizona and Nevada, serving more than 21,000 students. Mindy Korth, Todd Noel and Sean Westfall of Colliers International in Arizona represented the seller, while Korth, Chris Roach and Matt Roach, also of Colliers, represented the buyer in the transaction.

April 8, 2020

Acquisitions Office Texas

Colliers Arranges Sale of 121,420 SF Office Building in Metro Dallas

by Taylor Williams April 7, 2020

RICHARDSON, TEXAS — Colliers International has arranged the sale of 2703 Telecom, a 121,420-square-foot office building located in the northeastern Dallas suburb of Richardson. Construction firm Hill & Wilkinson recently signed a 10-year lease as the anchor tenant at the building, which was 100 percent leased at the time of sale. Dallas-based Pillar Commercial sold the asset to Goldenberg & Associates Inc. for an undisclosed price. Creighton Stark and Chris Boyd of Colliers handled the transaction.

April 7, 2020

Acquisitions Colorado Multifamily Western

Birge & Held Acquires Centennial Aspen Apartments in Colorado for $50.5M

by Amy Works April 7, 2020

ASPEN, COLO. — Marcus & Millichap has brokered the sale of Centennial Aspen Apartments, a three-story multifamily property located in Aspen. Birge & Held acquired the community for $50.5 million, or $338,926 per unit. Moshe Safdie, a world-renowned architect, designed the property, which was completed in 1986. The 11-building, 149-unit property is located at the base of Smuggler Mountain within a 15-minute walk from downtown Aspen. Community amenities include storage, laundry facilities, a playground and assigned parking. Greg Price and Jason Hornik of Marcus & Millichap’s Denver office represented the local seller and procured the buyer in the transaction.

April 7, 2020

Acquisitions Northeast Office Pennsylvania

JLL Arranges Sale of 123,087 SF Office Building in Blue Bell, Pennsylvania

by Alex Patton April 7, 2020

BLUE BELL, PA. — JLL has arranged the sale of a 123,087-square-foot office building in Blue Bell, a northern suburb of Philadelphia. Located at 518 Township Line Road, the building was completed in 2001 and renovated in 2019 with a new lobby, conference center, café and fitness center. At the time of sale, the property was 80 percent leased to six tenants including Jefferson Blue Bell Surgery. Doug Rodio, Brett Segal and Brett Grifo of JLL represented the seller, a partnership between Kairos Real Estate Partners and Artemis Real Estate Partners. The team also procured the buyer, Apex Financial Advisors.

April 7, 2020

Acquisitions New Jersey Northeast Retail

Cushman & Wakefield Brokers $22.6M Sale of Grocery-Anchored Shopping Center in Denville, New Jersey

by Alex Patton April 7, 2020

DENVILLE, N.J. — Cushman & Wakefield has brokered the $22.6 million sale of Denville Commons, a 73,000-square-foot, grocery-anchored shopping center in Denville, a northwestern suburb of New York City. Located at 3130 Route 10, the property is anchored by Corrado’s Market and was 90 percent leased at the time of the sale to 16 tenants including Goldfish Swim School and Orangetheory Fitness. Andrew Merin, David Bernhaut and Gary Gabriel led a Cushman & Wakefield team that represented the seller, Denville Commons Associates LP. The team also procured the buyer, Longpoint Realty Partners.

April 7, 2020

Acquisitions Healthcare New Jersey Northeast

Atkins Cos. Sells 38,500 SF Medical Office Building in West Orange, New Jersey

by Alex Patton April 7, 2020

WEST ORANGE, N.J. — Atkins Cos. has sold Atkins Medical Plaza, a 38,500-square-foot medical office building in West Orange, a western suburb of New York City. Located at 1500 Pleasant Valley Way, the Class A medical property was 90 percent leased at the time of sale. Atkins Cos. constructed the property, which is located near Saint Barnabas Medical Center and Garden State Parkway, in 2001. Jim McGuckin and Brian Hosey of Marcus & Millichap represented Atkins Cos. in the transaction. Alan Cafiero and Ben Sgambati led a Marcus & Millichap team that represented the buyer, a private investor. The sales price was undisclosed.

April 7, 2020

Acquisitions Midwest Minnesota Retail

Upland Negotiates Sale of Pep Boys-Occupied Property in Lakeville, Minnesota

by Kristin Harlow April 7, 2020

LAKEVILLE, MINN. — Upland Real Estate Group Inc. has negotiated the sale of a 6,480-square-foot property net leased to Pep Boys in Lakeville, about 25 miles south of Minneapolis. The sales price was undisclosed, but the asset sold at a cap rate of 6.37 percent. The tenant, a franchisee known as The Pep Boys-Manny Moe & Jack of California, has more than eight years remaining on the lease and operates roughly 236 stores. There are approximately 1,000 Pep Boys locations nationwide.

April 7, 2020

Acquisitions Texas

Lone Star Funds Buys $1.9B Majority Stake in Japanese Hotel Chain Unizo Holdings

by Taylor Williams April 6, 2020

DALLAS — Dallas-based private equity firm Lone Star Funds has acquired a $1.9 billion majority interest in Unizo Holdings Co. Ltd., a Japanese owner-operator of hotels and office buildings. Reuters initially reported the news, citing a statement from Unizo that Lone Star had purchased 86.6 percent of its outstanding shares in an open bid that began in December. According to its website, Unizo’s U.S. portfolio includes six office buildings totaling 1.6 million square feet in Washington D.C.

April 6, 2020

Acquisitions Industrial Northeast Pennsylvania

Harvest Health Acquires Cannabis Grower, Cultivation Facility in Reading, Pennsylvania for $25.5M

by Alex Patton April 6, 2020

READING, PA. — Arizona-based cannabis grower and retailer Harvest Health & Recreation has acquired Reading-based grower Franklin Labs LLC for $15.5 million in cash and a $10 million promissory note. The acquisition of the company included a 46,800-square-foot cultivation and processing facility in a former Pepsi warehouse, located at 1800 Centre Ave. in Reading. Harvest owns and operates five medical cannabis dispensaries in Pennsylvania and plans to begin growing and processing at its new facility during the second quarter of this year. The Pennsylvania Department of Health defines medical cannabis dispensaries and healthcare providers as essential services that will remain open during the COVID-19 crisis.

April 6, 2020

Acquisitions California Multifamily Western

Gemdale USA Sells Apartment Property Near Los Angeles for $31.9M

by Amy Works April 6, 2020

WEST COVINA, CALIF. — Gemdale USA has completed the disposition of South Hills Apartments, a multifamily property located in West Covina. An Orange County, Calif.-based private family acquired the property for $31.9 million, or $375,885 per unit. Built in 1966 on 5.2 acres, South Hill Apartments features 85 units. Additionally, the property is just off the San Bernardino Freeway/Interstate 10 near the Eastland Center and Cortez Park. Kevin Green, Greg Harris and Joseph Grabiec of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller. Green, Harris and Grabiec, along with Tyler Leeson of Marcus & Millichap, procured the buyer in the deal.

April 6, 2020

Newer Posts

Older Posts

Upcoming Events

Aug
06