sale1

MAG Capital Partners Acquires Three Industrial Properties Across Three States in Sale-Leaseback

by Kristin Harlow November 29, 2022

MICHIGAN, NEBRASKA AND GEORGIA — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired three industrial properties in three states for an undisclosed price. Applegate Greenfiber, a manufacturer of insulation products for commercial and residential use, occupies the properties. The first building spans 30,000 square feet and is located at 1000 Highview Drive in Webberville, Mich. The second totals 104,930 square feet at 3421 Old Highway 8 in Norfolk, Neb. Lastly, the portfolio includes a 110,000-square-foot property at 1241 Meadowbrook Drive in Eastanollee, Ga. Earlier this year, Industrial Opportunity Partners, a Chicago-based industrial investment firm, acquired both Applegate Holdings LLC and the assets of Greenfiber Holdings LLC to form Applegate Greenfiber Holdings LLC, which is based in Charlotte, N.C. Daniel Macks of STREAM Capital Partners represented the seller. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is based in Fort Worth, Texas.

November 29, 2022

Acquisitions Colorado Industrial Western

J.P. Morgan Divests of 340,960 SF Industrial Portfolio Near Denver International Airport

by Amy Works November 29, 2022

DENVER — Institutional investors advised by J.P. Morgan Global Alternatives have sold Airport Central Portfolio, a two-building industrial property near Denver International Airport in Denver. Boston-based TA Realty acquired the asset for an undisclosed price. Jeremy Ballenger, Tyler Carner, Jim Bolt and Jessica Ostermick of CBRE National Partners in Denver represented the seller in the deal. Situated on 15 acres at 11777 E. 55th Ave. and 11475 E. 53rd Ave., the 340,960-square-foot asset includes two multi-tenant distribution buildings. The buildings are 93 percent leased to seven diversified tenants. Current unit sizes range from 19,000 square feet to 86,200 square feet with the ability to divide and combine units in the future as tenant demand dictates. The buildings feature clear heights ranging from 24 feet to 26 feet with dock-high and drive-in loading, ESFR/wet sprinklers and rail service by Union Pacific.

November 29, 2022

Acquisitions California Healthcare Office Western

Cushman & Wakefield Arranges $7.4M Sale of Loma Starr Medical Office Property in San Diego

by Amy Works November 28, 2022

SAN DIEGO — Cushman & Wakefield has facilitated the sale of Loma Starr, a two-building office and medical office property at 3051-3055 Rosecrans St. and 3065 Rosecrans Place in San Diego’s Midway District. Loma Starr LLC, a private investor group, sold the asset to Crown Point Systems for $7.4 million. Totaling 28,630 square feet, the recently renovated property was 91.7 percent leased at the time of sale. The buyer plans to occupy space at the property for its own offices. Peter Curry, Brooks Campbell and Kevin Cuff of Cushman & Wakefield’s Private Capital Group in San Diego represented the seller, while Bret Morriss of Cast Capital represented the buyer in the transaction.

November 28, 2022

Acquisitions Midwest Minnesota Office

Bridge Investment Group Acquires 343,000 SF Office Building in St. Louis Park, Minnesota

by Kristin Harlow November 28, 2022

ST. LOUIS PARK, MINN. — Bridge Investment Group’s subsidiary Bridge Office Fund has acquired 10 West End in the western Minneapolis suburb of St. Louis Park. The sales price was undisclosed. The Class A office building rises 11 stories and spans 343,000 square feet. Ryan Cos. US Inc. sold the property in conjunction with The Excelsior Group and Sotarra LLC. The building opened in January 2021. Amenities include a bike room, onsite parking, electric vehicle charging, a fitness center and sky deck. The property is the first Class A office building constructed in the submarket in the last 18 years, according to Ryan. Tom O’Brien, Avery Ticer, Dan Phoel and Jeff Altenau of Cushman & Wakefield represented Ryan in the sale. Bridge now owns more than 1.4 million square feet of commercial real estate space in the Minneapolis market.

November 28, 2022

Acquisitions Industrial Southeast Virginia

CRG Sells New 1.2 MSF Industrial Facility in Richmond Leased to Lowe’s

by John Nelson November 23, 2022

RICHMOND, VA. — CRG, a Chicago-based industrial developer behind the Cubes brand of logistics facilities, has sold a 1.2 million-square-foot industrial property located at 2703 Commerce Road in Richmond. Situated within 110-acre Deepwater Industrial Park, the property was delivered in October as a build-to-suit for Lowe’s Home Centers, a subsidiary of national retailer Lowe’s Home Improvement. Realty Income Corp. purchased the facility for an undisclosed price. Patrick Nally, Britton Burdette, Bill Prutting, Craig Childs and Josh McArdle of JLL represented CRG in the sale. Similar to all Cubes-branded facilities, the Lowe’s facility features 36-foot clear heights, ESFR sprinkler systems, LED lighting, ample dock doors, trailer storage and car and truck parking. The design-build team includes development partners DSC Partners and Iron Point Partners, as well as architect Lamar Johnson Collaborative and general contractor and development partner Hourigan Group. The Richmond facility is the third property that CRG has developed for Lowe’s.

November 23, 2022

Acquisitions Multifamily Washington Western

CBRE Negotiates $78.5M Sale of Lakemont Orchard Apartment Community in Issaquah, Washington

by Amy Works November 23, 2022

ISSAQUAH, WASH. — CBRE has arranged the $78.5 million sale of Lakemont Orchard, a multifamily property in Issaquah. An undisclosed buyer acquired the asset from an affiliate of New York Life Insurance Co. Originally built in 1992, Lakemont Orchard features 201 apartments with balconies in a mix of one-, two- and three-bedroom floor plans, with an average unit size of 916 square feet. Onsite amenities include a pool, hot tub, sundeck, newly upgraded gym, TV and billiards lounge, outdoor dining area and basketball/sport court. The seller upgraded the roofs, siding and clubhouse prior to the sale, but all the apartments are eligible for renovation. Situated on more than 20 acres, the gated community is located at 18305 SE Newport Way. Jon Hallgrimson, Eli Hanacek, Mark Washington and Kyle Yamamoto of CBRE’s Pacific Northwest represented the seller in the deal.

November 23, 2022

Acquisitions Florida Industrial Southeast

CBRE Arranges Sale of 1.1 MSF Industrial Park in Metro Miami

by John Nelson November 22, 2022

MEDLEY, FLA. — CBRE has arranged the sale of a 12-building industrial park in the Miami suburb of Medley totaling nearly 1.1 million square feet. Boston-based TA Realty purchased the portfolio from an unnamed global investment advisor for an undisclosed price. José Lobón, Trey Barry, Frank Fallon, Royce Rose and Devin White of CBRE represented the seller in the transaction. Situated off Okeechobee Road, the park was fully leased at the time of sale to 46 tenants in the aviation, home design and improvement, third party logistics and food distribution industries.

November 22, 2022

Acquisitions Illinois Midwest Multifamily

JVM Acquires 240-Unit Luxury Apartment Property in Suburban Chicago

by Kristin Harlow November 22, 2022

ROMEOVILLE, ILL. — JVM Realty Corp. has acquired Seasons at Romeoville, a 240-unit luxury apartment property in the Chicago suburb of Romeoville. Fiduciary Real Estate Development Inc. was the seller. JVM plans to rename the community as The Bluffs. Built in 2021, the property features amenities such as a fitness center, clubhouse, pool, outdoor living area, dog park and pet washing area. Monthly rents start at $1,575, according to Apartments.com. Wick Kirby, Amanda Friant and Kevin Girard of JLL represented the seller. With this latest acquisition, JVM now owns and manages seven apartment communities in Illinois and 22 properties representing $1.6 billion in assets under management throughout the Midwest.

November 22, 2022

Acquisitions Arizona Multifamily Western

Sheiner Group/Living Well Homes Sells Eastyn Park Multifamily Community in Tucson for $42.5M

by Amy Works November 22, 2022

TUCSON, ARIZ. — Sheiner Group/Living Well Homes has completed the disposition of Eastyn Park, an apartment property in Tucson. Greenwater Investments acquired the asset for $42.5 million, or $152,329 per unit. Hamid Panahi, Clint Wadlund, Art Wadlund, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged acquisition financing for the buyer. Constructed in 1973, Eastyn Park features 279 apartments averaging 895 square feet per unit spread across 33 residential buildings. The community features a fitness center, two swimming pools, business center and picnic areas with barbecue grills. Apartments offer all-electric kitchens, wood-style plank flooring and oversized closets.

November 22, 2022

Acquisitions Midwest Minnesota Multifamily

JLL Brokers Sale of 185-Unit Luxury Apartment Community in Minneapolis

by Kristin Harlow November 21, 2022

MINNEAPOLIS — JLL Capital Markets has brokered the sale of Dock Street Flats in the North Loop neighborhood of Minneapolis for an undisclosed price. Constructed in 2013, the luxury apartment community features 185 units and 2,852 square feet of retail space. Units average 778 square feet. Amenities include a pool deck, rooftop terrace, two courtyards, two stories of underground parking and a fitness center. Guacaya Bistreaux, a Panamanian-inspired restaurant and cocktail lounge, recently opened at the property. Mox Gunderseon, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller, The AFL-CIO Building Investment Trust, advised by PNC Realty Investors. The Connor Group, a Dayton-based real estate investment firm, was the buyer.

November 21, 2022

Newer Posts

Older Posts