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NKF Negotiates Sale of 59,206 SF Manufacturing Facility in Elk Grove Village, Illinois

by Kristin Harlow January 31, 2019

ELK GROVE VILLAGE, ILL. — Newmark Knight Frank (NKF) has negotiated the sale of a 59,206-square-foot manufacturing facility located at 801 Estes Ave. in Elk Grove Village. The sales price was not disclosed. Located on three acres, the property features three interior docks, three drive-in doors, 47 car parking spaces and a clear height of 18 feet. Adam Marshall, Tatsuru Kono and Mark Deady of NKF represented the seller, Tigerflex Corp. Cory Ramey and Shamus Coneely of John Greene Industrial represented the buyer, Diesel Radiator Co.

January 31, 2019

Acquisitions Northeast Office Pennsylvania

CBRE Brokers $8M Sale of Office Campus in Harrisburg, Pennsylvania

by David Cohen January 30, 2019

HARRISBURG, PA. — CBRE has brokered the $8 million sale of a two-building, 50-acre office campus in Harrisburg. Located at 100 and 200 Amp Drive, the 250,000-square-foot property includes a full-service cafeteria and electric car charging stations. 100 Amp Drive totals 170,000 square feet while 200 Amp Drive totals 80,000 square feet. Michael Curran, William Krisztal and Nicholas Westley of CBRE’s Los Angeles South Bay office represented the seller, TE Connectivity Corp., in the transaction. Garrett Rothman of RSR Realtors represented the buyer, D&H Distributing Co., which will relocate its headquarters to the property.

January 30, 2019

Acquisitions Office Washington Western

Newmark Knight Frank Arranges Sale of 174,546 SF Canyon Pointe Office Campus in Washington

by Amy Works January 30, 2019

BOTHELL, WASH. — Newmark Knight Frank (NKF) has arranged the sale of Canyon Pointe, a single-tenant office campus located at 22309 and 22213 30th Drive SE in Bothell. Terms of the transaction were not released. T-Mobile occupies the 174,546-square-foot Class A office campus under a long-term lease agreement. Built in 2007 on 9.8 acres, the property includes two three-story buildings with private third-floor balconies, abundant on-site parking, 30,000-square-foot floorplates and an outdoor landscaped area. Kevin Shannon, Nick Kucha, Ken White, Michael Moll and Bill DeLacy of NKF represented the undisclosed seller in the deal.

January 30, 2019

Acquisitions New Jersey Northeast Office

Paramount Assets Acquires 12-Story Office Building in Newark

by David Cohen January 29, 2019

NEWARK, N.J. — Paramount Assets has acquired 17 Academy Street, a 100,000-square-foot, 12-story office building in Newark’s Four Corners Historic District. The sales price was undisclosed. Built in 1926, the property was 70 percent occupied at the time of sale by a variety of professional services firms. Situated between Halsey and Broad streets, 17 Academy Street is directly across the street from the world headquarters of the Prudential Insurance Co. and is within walking distance of public transportation. Paramount Assets already owns three other properties on the same street, 31 Academy, 27 Academy and 45 Academy.

January 29, 2019

Acquisitions Multifamily Oregon Western

Marcus & Millichap Brokers $19.2M Sale of Seven-Property Apartment Portfolio in Portland

by Amy Works January 29, 2019

PORTLAND, ORE. — Marcus & Millichap has arranged the sale of the Ashley Portfolio, a seven-property multifamily portfolio in Portland. An undisclosed buyer acquired the assets for $19.2 million. Built between 1904 and 1943, the portfolio includes six properties located in Northwest Portland and one in Northeast Portland. The properties range from a 39-unit building sold for $7 million to a five-unit building sold for $1 million. Whitney Rhoades, Elizabeth Davis and Danalee Corso of Marcus & Millichap’s Portland office represented the undisclosed seller.

January 29, 2019

Acquisitions Midwest Minnesota Office

Group RMC Acquires 10-Building Office Campus in Eagan, Minnesota

by Kristin Harlow January 29, 2019

EAGAN, MINN. — An affiliate of Group RMC has acquired the 10-building Grand Oak Business Park in Eagan, a suburb of Minneapolis. The purchase price was not disclosed. The office buildings total 550,224 square feet. The 98-acre campus features outdoor amenity areas and trails. Ryan Watts, Sonja Dusil, Judd Welliver and Tom Holtz of CBRE represented the seller, an affiliate of Equus Capital Partners Ltd. This is the first acquisition in the Minneapolis market for Group RMC.

January 29, 2019

Acquisitions Michigan Midwest Multifamily

Cohn Commercial Brokers $1.4M Sale of Apartment Building in Detroit

by Kristin Harlow January 29, 2019

DETROIT — Cohn Commercial Properties has brokered the sale of El Tovar Apartments in Detroit’s Islandview neighborhood for $1.4 million. Located at 320-340 E. Grand Blvd., the apartment property consists of 72 units. The property was originally built in 1928 and is scheduled to undergo renovations. Harry Cohn and Marcel Pearl of Cohn Commercial represented both the buyer, Midwest Capital, and the seller, El Tovar Limited Dividend Housing Association LP.

January 29, 2019

Acquisitions Massachusetts Multifamily Northeast

NKF Negotiates $123.2M Sale of Apartment Tower in Boston

by David Cohen January 28, 2019

BOSTON — NKF has negotiated the $123.2 million sale of Serenity, a 195-unit apartment building in Boston. Located in the Jamaica Plain neighborhood of Boston, Serenity was completed in 2017 and features a two-story, dual-entrance lobby, lounge, elevated pool deck, private courtyard and fitness center. Michael Byrne, Thomas Greeley, Casey Griffin, Devlin Man and Andrew Herald of NKF’s Boston Capital Markets team represented the seller, Longwood Group, in the transaction. The buyer was Oxford Properties Group.

January 28, 2019

Acquisitions Illinois Midwest Multifamily

Essex Brokers $15M Sale of Condo Complex in Willowbrook, Illinois

by Kristin Harlow January 28, 2019

WILLOWBROOK, ILL. — Essex Realty Group Inc. has brokered the $15 million sale of Waterfall Glen in Willowbrook, a southwestern suburb of Chicago. The 142-unit condominium complex, located along Mockingbird Lane, features a mix of one-, two- and three-bedroom floor plans. The property is comprised of 19 buildings on 24.2 acres. Matt Welke and Matt Feo of Essex represented the private seller, while Brian Kochendorfer, Brian Karmowski and Troy Beebe represented the buyer.

January 28, 2019

Crescent-Real-Estate-Colorado-Springs-CO

Acquisitions Colorado Loans Office Western

Crescent Real Estate Receives $102.5M in Financing for 13-Building Office Portfolio in Colorado Springs

by Amy Works January 28, 2019

COLORADO SPRINGS, COLO. — Crescent Real Estate LLC has received $102.5 million in acquisition financing for a suburban office portfolio in Colorado Springs. Trey Morsbach, Jim Curtin and Leon McBroom of HFF secured the five-year, floating-rate acquisition loan through Bank of America Merrill Lynch. The 13-building portfolio features more than 1 million square feet of office space. At the time of acquisition, the portfolio was 75 percent occupied by a variety of industry sectors, including aerospace, government and military/defense contractors, technology and healthcare. Major tenants include Northrop Grumman, Army National Guard, GSA, The Spectranetics Corp., Booz Allen Hamilton and United Healthcare.

January 28, 2019

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