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Cohen Asset Management Acquires Two Industrial Assets Totaling 1.3 MSF in Dallas

by Taylor Williams October 2, 2018

DALLAS — Southern California-based Cohen Asset Management Inc. has acquired two industrial assets totaling approximately 1.3 million square feet within Pinnacle Industrial Park in Dallas. The first property, a 1 million-square-foot bulk distribution building, features 178 exterior docks, six drive-in doors and 32-foot ceiling heights. The second property, a 327,600-square-foot warehouse, includes 62 exterior docks, three drive-in doors and 30-foot ceiling heights. Both assets were built in 2001. Steve Rowland of Transwestern represented Cohen in the acquisition from an undisclosed seller.

October 2, 2018

Acquisitions Retail Southeast Tennessee

Marcus & Millichap Brokers $3.7M Sale of Walmart-Occupied Retail Property in Chattanooga

by Amy Works October 2, 2018

CHATTANOOGA — Marcus & Millichap has arranged the sale of a retail property located at 3901 Hixson Pike Suite 181 in Chattanooga. Fletcher Bright Co. sold the property to 3901 LLC for $3.7 million. Walmart Neighborhood Market occupies the 41,117-square-foot building, which was constructed in 2015. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, while Louie Granteed of Tobin Properties Inc. represented the buyer in the deal.

October 2, 2018

Acquisitions California Multifamily Seniors Housing Western

Blueprint Negotiates Sale of Memory Care Community in Orange County, California

by Amy Works October 1, 2018

FULLERTON, CALIF. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Richman Gardens, a standalone memory care community in the Orange County city of Fullerton. A joint venture between a REIT and a national operator sold the community as part of a larger portfolio disposition strategy. A Los Angeles-based owner-operator acquired the property for an undisclosed price. The buyer plans to implement a substantial renovation of the community, as well as implement operational changes to reduce expenses. This is the company’s first Orange County acquisition. Blueprint’s Jacob Gehl, Ben Firestone and Scott Frazier handled the transaction.

October 1, 2018

Acquisitions Multifamily Texas

Lantower Residential Acquires 328-Unit Apartment Community in Metro Austin

by Taylor Williams October 1, 2018

PFLUGERVILLE, TEXAS — Dallas-based Lantower Residential has acquired Edgewater, a 328-unit apartment community located in the Tech Ridge area in the northern Austin metro of Pflugerville. Situated on 12.7 acres, the property offers a range of amenities, including two pools, a pond with surrounding walking trails, fitness center with yoga room and a dog spa. Lantower’s portfolio now comprises 20 multifamily properties totaling 6,588 units. The seller was not disclosed.

October 1, 2018

Acquisitions Florida Industrial Southeast

Charles Wayne Properties Acquires Five-Building Industrial Property in Sanford, Florida for $9.6M

by Amy Works October 1, 2018

SANFORD, FLA. — Charles Wayne Properties has purchased Monroe CommerCenter South, a five-building industrial/flex campus located on 8.5 acres in Sanford, a Florida town in north Seminole County. Miami-based Monroe South RE LLC sold the asset for $9.6 million. Totaling 116,500 rentable square feet, the five buildings are located at 627-655 Progress Way, 663-691 Progress Way, 703-739 Progress Way, 4141-4186 Incubator Court and 4140 Flex Court. Built in 2013, Monroe CommerCenter South features office and warehouse space with grade-level roll-up doors. Ron Rogg and Chip Wooten of CBRE represented the seller in the deal. Charles Wayne Investment Management will handle asset and investment management functions for the property and its investors.

October 1, 2018

Acquisitions Michigan Midwest Multifamily Student Housing

Berkadia Arranges $19M Sale of Student Housing Property in Kalamazoo, Michigan

by Kristin Harlow October 1, 2018

KALAMAZOO, MICH. — Berkadia has arranged the sale of 700 SoHo near Western Michigan University in Kalamazoo for $19 million. The 488-bed student housing property, located at 700 S. Howard St., consists of four-bedroom units. Amenities include a resort-style pool and renovated clubhouse. Kevin Larimer and Greg Gonzalez of Berkadia brokered the sale. A Pittsburgh-based real estate company acquired the asset.

October 1, 2018

Acquisitions Illinois Industrial Midwest

Entre Commercial Brokers Sale-Leaseback of 122,048 SF Industrial Facility in Lake Zurich, Illinois

by Kristin Harlow October 1, 2018

LAKE ZURICH, ILL. — Entre Commercial Realty has brokered the sale-leaseback of a 122,048-square-foot industrial facility in Lake Zurich. Brian Bocci of Entre represented the buyer, Exeter Property Group. Kris Keller of Keller Williams represented the seller, 1300 Rose Road LLC. The seller plans to lease back approximately 65 percent of the building on a long-term lease. The remaining portion of the property has another tenant in place. Built in 2005, the property features a clear height of 28 feet.

October 1, 2018

Acquisitions Illinois Midwest Multifamily

Interra Negotiates $3.7M Condo Deconversion Sale in Evanston, Illinois

by Kristin Harlow October 1, 2018

EVANSTON, ILL. — Interra Realty has negotiated the $3.7 million deconversion sale of 122-130 Callan Ave. in Evanston. The undisclosed buyer plans to convert the building’s 25 condominiums back into apartment rental units. Built in 1923, the building includes 13 two-bedroom units and 12 one-bedroom units. Patrick Kennelly and Paul Waterloo of Interra represented both the buyer and the sellers, Evanstonian Condominium Association. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent or more are in agreement.

October 1, 2018

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Negotiates $32.5M Sale of Multifamily Community in New Jersey

by David Cohen September 28, 2018

BRIDGEWATER, N.J. — Gebroe-Hammer Associates has negotiated the $32.5 million sale of Woodmont Square Apartments, a 100-unit multifamily community in Bridgewater. The market-rate apartment community was built in 2012 and is located at 100 Bellis Court. Amenities include a clubhouse, fitness center, game room, business center, basketball court and picnic area. Greg Pine, Stephen Tragash and Eli Herskowitz of Gebroe Hammer represented the seller, Woodmont Properties at Bridgewater LLC, in the transaction. The buyer was undisclosed.

September 28, 2018

Acquisitions California Retail Western

Goldman Sachs Sells 331,804 SF Regional Mall in Santa Maria, California

by Amy Works September 28, 2018

SANTA MARIA, CALIF. — Goldman Sachs has completed the sale of Santa Maria Town Center, a regional mall located at 100 Town Center East in Santa Maria. A global insurance company acquired the property for an undisclosed price. Built in 1976 and situated on 6.11 acres, the mall features 331,804 square feet of retail space. Tenants include Edwards Theatres RPX Digital Cinema. The Sears and Macy’s at the site were not part of the sale. Philip Voorhees, Jimmy Slusher, George Good, James Tyrrell of CBRE’s National Retail Partners-West represented the seller in the deal.

September 28, 2018

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