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Zilber Acquires 121,000 SF Industrial Building in Pleasant Prairie, Wisconsin

by Kristin Harlow September 3, 2019

PLEASANT PRAIRIE, WIS. — Zilber Property Group has acquired a 121,000-square-foot industrial building located at 8778 100th St. in Pleasant Prairie. The purchase price was undisclosed. The vacant property is situated within LakeView Corporate Park. It features a clear height of 26 feet, six docks, two drive-in doors, 12,000 square feet of office space and 115 car parking stalls. MG Design formerly occupied the property. Eric Fischer of Cushman & Wakefield represented the undisclosed seller. Michael Kleber of Zilber represented Zilber.

September 3, 2019

Acquisitions Massachusetts Multifamily Northeast

Boston Realty Advisors Arranges $11.5M Sale of Multifamily Property in Cambridge

by Alex Patton September 3, 2019

CAMBRIDGE, MASS. — Boston Realty Advisors (BRA) has arranged the $11.5 million sale of The Emerson, a 31-unit apartment building in Cambridge, a northeastern suburb of Boston. The property offers studio and one-bedroom apartments and is situated close to Harvard University and the Massachusetts Institute of Technology (MIT). Jason Weissman, Nicholas Herz and Kevin Benzinger of BRA represented the buyer, New York-based Columbia Partners, in the transaction. The buyer was 922 Massachusetts Ave. LLC.

September 3, 2019

Acquisitions New Jersey Northeast Office

WCRE Brokers Sale of 30,000 SF Office Building in Cherry Hill, New Jersey

by Alex Patton September 3, 2019

CHERRY HILL, N.J. — Wolf Commercial Real Estate (WCRE) has brokered the sale of a 30,000-square-foot office property in Cherry Hill, an eastern suburb of Philadelphia. The property, 950 North Kings Highway, is part of Cherry Hill Office Center and was fully leased to multiple tenants at the time of sale. John Mozzillo of WCRE represented the buyer, Texas-based NKH LLC, in the transaction. The seller and sales price were undisclosed.

September 3, 2019

Acquisitions California Lee & Associates Office Western

Lee & Associates Brokers $24M Sale of Office Building in Calabasas, California

by Amy Works September 3, 2019

CALABASAS, CALIF. — Lee & Associates – LA North/Ventura has arranged the sale of an office building, located at 24151 Ventura Blvd. in Calabasas. An entity of Valley Crest sold the asset to an entity of Los Angeles-based 4M Investment Corp. for $24 million, or $314 per square foot. Constructed in 2004 as a build-to-suit for ValleyCrest Landscape Cos., the 76,496-square-foot building was designed by Nadel Architects and features 360-degree views of the Santa Monica mountains, an atrium and a 17-acre campus with outdoor seating areas. The buyer plans to convert the asset into a multi-tenant office building. BrightView currently occupies the property and will continue to do so until its lease expires at year’s end. Mike Tingus, Grant Fulkerson and Jonathan Bruce of Lee & Associates – LA North/Ventura represented the seller in the deal.

September 3, 2019

Acquisitions Industrial Massachusetts Northeast Top Stories

TA Realty Sells National Industrial Portfolio in Two Transactions Totaling $1B

by John Nelson September 3, 2019

BOSTON — TA Realty, a real estate investor based in Boston, has sold off a national industrial portfolio in two separate deals for a little over $1 billion. The portfolio spans 8.3 million square feet of multi-tenant distribution space in 96 separate properties. Situated across 14 markets, the portfolio was 91 percent leased to more than 325 tenants as of July 1. In one transaction, AEW Capital Management acquired 28 facilities in the state of Texas from TA Realty. In the other transaction, funds managed by Blackstone Group (NYSE: BX) acquired 68 properties that are situated in 10 separate markets across the United States. Blackstone has a strong appetite for logistics space, having recently agreed to purchase GLP’s 179 million-square-foot industrial portfolio for nearly $19 billion. “Logistics remains our highest conviction investment theme,” says Nadeem Meghji, senior managing director and head of real estate Americas at Blackstone. “The portfolio we are acquiring from TA Realty is another example of last-mile logistics assets that will help meet the growing e-commerce demand.” The TA Realty team members involved in the transactions included Greg Bonomo, Ridgley Provencal and Luke Marchand. CBRE National Partners represented TA Realty in transaction negotiations. Specific properties and markets …

September 3, 2019

Acquisitions Multifamily Texas

Greystone Arranges Sale of 232-Unit Multifamily Asset in Killeen

by Taylor Williams August 30, 2019

KILLEEN, TEXAS — Greystone has arranged the sale of The Willows Apartments, a 232-unit multifamily asset located in the Central Texas city of Killeen. Built in 1983, the property features one-, two- and three-bedroom units and amenities such as a pool and an outdoor picnic area. Nicholas Brown of Greystone represented the seller and procured the out-of-state buyer in the transaction. Both parties requested anonymity.

August 30, 2019

Acquisitions Arizona Multifamily Western

Trillium Residential Sells 297-Unit Trillium 44 in Central Phoenix for $56M

by Amy Works August 30, 2019

PHOENIX — Trillium Residential has completed the disposition of Trillium 44, a multifamily property located at 111 N. Dupont Circle in central Phoenix. An affiliate of ConAm Group acquired the asset for $56 million. The four-story apartment community features 297 units, a swimming pool area with private cabanas, grilling area, resident sports lounge, wine storage room, cybercafé, fitness center, movie theater, dog park and multiple courtyards. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the seller in the deal.

August 30, 2019

Acquisitions Illinois Industrial Midwest

ML Realty Partners Acquires Two Chicagoland Industrial Buildings Totaling 101,405 SF

by Kristin Harlow August 30, 2019

HANOVER PARK AND WILLOWBROOK, ILL. — ML Realty Partners has acquired two single-tenant industrial buildings in metro Chicago totaling 101,405 square feet. The first is 1565 Hunter Road in Hanover Park within the Central DuPage County submarket. The second is 7100 S. Madison St. in Willowbrook within the I-55 Corridor submarket. Both properties are fully leased. Jeffrey Devine and Steven Disse of Colliers International represented the undisclosed seller. The purchase price was not disclosed.

August 30, 2019

Acquisitions Industrial Michigan Midwest

Moghul Foods Purchases 28,339 SF Industrial Facility in Madison Heights, Michigan

by Kristin Harlow August 30, 2019

MADISON HEIGHTS, MICH. — Moghul Foods LLC has purchased a 28,339-square-foot industrial facility located at 32007-32011 Stephenson Highway in Madison Heights, a northern suburb of Detroit. The South Asian and Middle Eastern food distributor will move its operations from neighboring Troy. Garry Rogers and Jason Capitani of L. Mason Capitani CORFAC International brokered the sale. The seller and sales price were not disclosed.

August 30, 2019

Acquisitions Industrial New Jersey Northeast

Colliers Brokers Sale of Five Industrial Buildings totaling 130,435 SF in Pennsauken, New Jersey

by Alex Patton August 30, 2019

PENNSAUKEN, N.J. — Colliers International has brokered the sale of five industrial buildings totaling 130,435 square feet in Pennsauken, an eastern suburb of Philadelphia. The buildings are located within the Pennsauken Industrial Park on Bethel Ave., including Buildings 841, 845, 851, 959 and 965. Ian Richman and Marc Isdaner of Colliers represented the undisclosed seller in the transaction. The team also represented the buyer, a private investor.

August 30, 2019

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