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JLL Brokers $15M Sale of Industrial Property in Carlstadt, New Jersey

by Alex Patton October 7, 2019

CARLSTADT, N.J. — JLL has brokered the $15 million sale of an industrial property in Carlstadt, a western suburb of New York City. The 102,611-square-foot production and warehouse building features 24-foot ceiling heights, three drive-in doors and office space. At the time of sale, the building was 100 percent leased to tenants including visual marketing company Coloredge and health supplement manufacturer Amazing Vitamins. Jose Cruz, Marc Duval, Jordan Avanzato and J.B. Bruno of JLL represented the seller, SPI 190 Jony LLC, in the transaction. Boston-based Cabot Properties was the buyer.

October 7, 2019

Acquisitions Arizona Multifamily Western

CBRE Brokers $30.7M Sale of Solano Vista Apartment Community in Glendale, Arizona

by Amy Works October 7, 2019

GLENDALE, ARIZ. — CBRE has arranged the sale of Solano Vista, an apartment community located at located at 7102 N. 43rd Ave. in Glendale. Phoenix-based 3rd Ave Investments sold the asset to Salt Lake City-based Sundance Bay LLC for $30.7 million. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE’s Phoenix office represented the seller and buyer in the deal. The property recently underwent a renovation and rebranding. The community features 352 apartments, a fitness center, clubhouse, dog park, playground, four swimming pools, multiple laundry facilities, barbecues, covered parking and secured gate access.

October 7, 2019

Acquisitions Midwest Retail Wisconsin

Mid-America Brokers Sale of 54,216 SF Shopping Center in Madison, Wisconsin

by Kristin Harlow October 7, 2019

MADISON, WIS. — Mid-America Real Estate Corp. has brokered the sale of Oakbridge Retail Center in Madison for an undisclosed price. The 54,216-square-foot shopping center is fully leased to tenants such as Salons Etc., Heid Music, Rocky Rococo, Brothers Main and iCare. Carly Gallagher and Dan Rosenfeld of Mid-America represented the seller, a Madison-based investment group. Baltimore-based AGM Commercial Real Estate Advisors purchased the asset.

October 7, 2019

Acquisitions Colorado Multifamily Western

Brass Enterprises Sells 328-Unit Multifamily Property in Denver for $99.2M

by Amy Works October 4, 2019

DENVER — Toronto-based Brass Enterprises has completed the sale of Lugano Cherry Creek, an apartment community located at 9601 E. Iliff Ave. in Denver. Minneapolis-based IRET acquired the property for $99.2 million, or $302,591 per unit. Built in 2010, the five-story asset features 328 apartments and 13,262 square feet of retail space. Units feature spacious floor plans, at least nine-foot ceilings, a patio or balcony on every unit, and select loft units. Community amenities include an outdoor resort-style swimming pool and spa with heated deck, 24-hour fitness center, 4.5-acre private park, outdoor lounge with fire pit and two structured parking garages. Terrance Hunt and Shane Ozment of Newmark Knight Frank represented the seller in the deal. The buyer, IRET, is a listed REIT with more than $1.8 billion in multifamily assets across the Midwest.

October 4, 2019

Acquisitions Midwest Missouri Retail

Mid-America, Pace Properties Arrange $20.9M Sale of Shopping Center in Ballwin, Missouri

by Kristin Harlow October 4, 2019

BALLWIN, MO. — Mid-America Real Estate Corp. and Pace Properties have arranged the $20.9 million sale of Ballwin Plaza in Ballwin, about 20 miles west of St. Louis. The 204,859-square-foot shopping center is situated on Manchester Road. Schnucks Supermarket anchors the property, which is 93 percent leased. Other tenants include Hobby Lobby, Marshalls and Buffalo Wild Wings. Joe Girardi of Mid-America and Scott Seyfried of Pace Properties represented the seller, Cincinnati-based Viking Partners. Cincinnati-based Select Strategies Realty purchased the asset.

October 4, 2019

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers Three Multifamily Sales Totaling $5.5M in Chicago

by Kristin Harlow October 4, 2019

CHICAGO — Interra Realty has brokered the sales of three multifamily properties in Chicago’s Edgewater and Rogers Park neighborhoods for a combined $5.5 million. Each of the properties, located at 5547 N. Lakewood Ave., 1619 W. Lunt Ave. and 7423 N. Rogers Ave., were fully occupied at the time of sale. In the first transaction, Interra’s Craig Martin represented the seller, the estate of Victoria Altman, as well as the buyer, a joint venture led by Joe Hayes and Mike Cavanaugh. In the second sale, Martin and Brian DiBasilio of Interra represented the private parties. In the third transaction, Martin represented the private buyer as well as the sellers, Gary and Bella Goland.

October 4, 2019

Acquisitions New York Northeast Office

SL Green Agrees to Sell Manhattan News Building for $815M

by Alex Patton October 3, 2019

NEW YORK CITY — SL Green has agreed to sell 220 East 42nd Street, also known as The News Building, in Manhattan for $815 million. The 37-story building, originally the headquarters for The New York Daily News, was 97 percent occupied at the time of sale by tenants including the Visiting Nurse Service of New York, local television station WPIX and the United Nations. Adam Spies and Doug Harmon of Cushman & Wakefield facilitated the transaction along with Robert Verrone of Iron Hound Management. The deal is expected to close in the first quarter of 2020. Commercial Observer reported that the buyer was Jacob Chetrit of The Chetrit Organization. SL Green purchased the property in February 2003 for $265 million

October 3, 2019

Acquisitions California Retail Western

Donahue Schriber Purchases Two Bay Area Shopping Centers for Nearly $132M

by Amy Works October 3, 2019

SAN FRANCISCO AND ANTOICH, CALIF. — Donahue Schriber has acquired two grocery-anchored retail centers for a total of nearly $132 million. The acquisitions expand the company’s presence in the San Francisco Bay area. In the first deal, Donahue Schriber purchased Lakeshore Plaza in San Francisco. Located at 1549 Sloat Blvd., the 172,364-square-foot center was built in 1993 and serves the Sunset District, West Portal and Saint Francis Wood. Lucky, Ross Dress for Less, Petco and Big 5 Sporting Goods anchor the retail property. This acquisition represents the company’s second purchase in San Francisco in the last two years. Additionally, Donahue Schriber acquired Antioch Crossings, a neighborhood retail center located at 3303-3421 Deer Valley Road in Antioch. Safeway anchors the 126,309-square-foot shopping center. Further terms of the transactions were not disclosed.

October 3, 2019

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing

SLIB Brokers Sale of Two Seniors Housing Communities in Wilkes-Barre, Pennsylvania

by Alex Patton October 3, 2019

WILKES-BARRE, PA. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Little Flower Manor and St. Luke’s Villa, both in Wilkes-Barre, which is located approximately 100 miles north of Philadelphia. Little Flower Manor is a 133-bed skilled nursing facility with an attached 60-unit personal care building called St. Therese Residence. One mile away is St. Luke’s Villa, a 50-bed skilled nursing, 48-unit personal care, and 31-unit independent living community. The Diocese of Scranton sold the properties to a local nonprofit buyer for an undisclosed price. Toby Siefert and Ryan Saul of SLIB handled the transaction.

October 3, 2019

Acquisitions Illinois Midwest Office

Golub & Co. Acquires Burnham Center Office Tower in Chicago

by Kristin Harlow October 3, 2019

CHICAGO — Golub & Co. has acquired Burnham Center, a landmark office tower in the heart of Chicago’s Loop. The purchase price was not disclosed. Completed in 1913, it was the last building designed by famed architect and urban planner Daniel Burnham. The building rises 22 stories and spans 585,000 square feet. It is home to the Chicago headquarters for GrubHub. Golub & Co. plans to refresh the amenities, which include a fitness center, private tenant lounge and conferencing facilities. Ground-floor retail includes a mix of national and regional tenants. Golub & Co., which will assume management and leasing of the building, purchased the asset in a joint venture with The Family Office Co.

October 3, 2019

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