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Gladstone Commercial Acquires 157,810 SF Industrial Facility Near Columbus, Ohio

by Kristin Harlow September 28, 2018

DELAWARE, OHIO — Gladstone Commercial Corp. has acquired a single-tenant 157,810-square-foot industrial facility in the Columbus-area community of Delaware. The purchase price was not disclosed. The building serves as the headquarters and primary manufacturing facility for Acoust-A-Fiber, which manufactures acoustic, thermal management solutions for the automotive industry. The property is situated on 14.7 acres at 759 Pittsburgh Drive. Robin Stolberg, Kurt Sarbaugh, Nick Foster, Ken Martin and Sam Berry of HFF represented the seller, Agracel.

September 28, 2018

Acquisitions Industrial Midwest Ohio

Signature Associates Negotiates Sale of 104,200 SF Industrial Building in Holland, Ohio

by Kristin Harlow September 28, 2018

HOLLAND, OHIO — Signature Associates has negotiated the sale of a 104,200-square-foot industrial building in Holland, a suburb of Toledo. The sales price was not disclosed. The property is located at 6145 Merger Drive. Joe Banyai of Signature Associates brokered the transaction. Honey Baked Foods Inc. purchased the building from Merger Investment Group LLC.

September 28, 2018

Acquisitions Illinois Midwest Net Lease Retail

Boulder Group Arranges $10.9M Sale of Property Net Leased to Jewel-Osco in Illinois

by Kristin Harlow September 28, 2018

SUGAR GROVE, ILL. — The Boulder Group has arranged the $10.9 million sale of a single-tenant property net leased to Jewel-Osco in Sugar Grove, a western suburb of Chicago. The 61,301-square-foot building is located on 7.9 acres at 465 N. Illinois Route 47. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private real estate investment company based in the Southwest. A California-based private investor was the buyer.

September 28, 2018

Acquisitions Georgia Multifamily Southeast

Pollack Shores Acquires 800-Unit Multifamily Community in Metro Atlanta

by Camren Skelton September 28, 2018

ALPHARETTA, GA. — Pollack Shores Real Estate Group has acquired AMLI Northwinds, an 800-unit apartment community in Alpharetta, roughly 25 miles north of Atlanta. The name of the seller and sales price were not disclosed. Pollack Shores will rename the community Avery at Northwinds and will invest more than $13 million in property upgrades and amenity improvements. Project plans call for new appliances, countertops and light fixtures for all residential units. Amenity upgrades will include renovations to the property’s three pools, a new fitness center and the conversion of two-thirds of the tennis courts into “The Hub.” The new area will provide a green space to host special events for residents. Atlanta-based Pollack Shores acquired the property in partnership with an account advised by UBS Asset Management. Matrix Residential, a subsidiary of Pollack Shores, will manage the community.

September 28, 2018

Acquisitions Multifamily Texas

JLL Brokers Sale of 260-Unit Multifamily Community in San Antonio

by John Nelson September 27, 2018

SAN ANTONIO — JLL Capital Markets has brokered the sale of Cordoba Apartment Homes, a 260-unit multifamily community located at 7810 Callaghan Road in northwest San Antonio. Moses Siller and Zar Haro of JLL represented the seller, Leuven Group, in the transaction. The buyer, GVA Pro LLC, purchased the asset for an undisclosed price. According to Apartments.com, Cordoba’s monthly rental rates range from $644 for a studio apartment to $979 for a two-bedroom unit. Built in 1980 and renovated this year, the apartment community features two swimming pools, a tennis court, 24-hour laundry rooms and bilingual management.

September 27, 2018

Acquisitions Florida Office Retail Southeast

Tiktin Brokers $43M Sale of Office, Retail Portfolio in Broward County

by Camren Skelton September 27, 2018

CORAL SPRINGS, FLA. — Tiktin Real Estate Investment Services (TREIS) has brokered the $43 million sale of the Heron Bay Office and Retail Portfolio in Coral Springs. The Broward County portfolio includes Waterway Shoppes, a 40,258-square-foot retail center; Heron Bay III, a 45,344-square-foot, Class A office building; and Heron Bay IV, a 45,383-square-foot, Class A office building. Adam Tiktin and Alejandro Snyder of TREIS arranged the transaction on behalf of the sellers, RM-NA HB Three Office Building LLC, RM-NA HB Four Office Building LLC and RM-NA HB Waterway Shoppes LLC. Asuman 57th Street LLC acquired the assets. The sellers constructed the three buildings in 2006 and 2008. The portfolio is fully occupied by a mix of national, regional and local tenants.

September 27, 2018

Acquisitions California Multifamily Western

Ridge Capital Investors, Contrarian Capital Acquire Two Multifamily Properties Near Sacramento for $39.5M

by Amy Works September 27, 2018

SACRAMENTO, CALIF. — Ridge Capital Investors and Contrarian Capital Management have acquired two apartment communities in metro Sacramento. JCM Partners sold the properties in two separate transactions totaling $39.5 million. The properties are La Rivera Commons, built in 1975 and located at 8719 Woodwan Way, and Antelope Woods, built in 1986 and located at 6413 Tupelo Drive. Both properties are Class B apartment communities and feature a total of 268 units. The ownership group plans to execute a renovation program across the two-property portfolio that will include substantial improvements to unit interiors and exteriors, as well as upgrades to property amenities, branding and signage. Upon completion, the properties will compete with comparable Class B+ and A- properties, according to the new owners. Marc Ross of CBRE represented the seller on the La Rivera Commons transaction. Steve Nelson, Dusty Haeling, Phil Saglimbeni, Sal Saglimbeni and Ken Blomsterberg of Marcus & Millichap/IPA represented the seller in the Antelope Woods deal.

September 27, 2018

Acquisitions Iowa Midwest Retail

Equity Investment Group Acquires 113,713 SF Shopping Center in Davenport, Iowa

by Kristin Harlow September 27, 2018

DAVENPORT, IOWA — Equity Investment Group has acquired a 113,713-square-foot shopping center anchored by Hv-Vee in Davenport for an undisclosed price. Known as Kimberly West shopping center, the property is 87.8 percent leased. Other tenants include Great Clips, Tony’s Chicago Style Pizzeria, Rent-A-Center, Citizens Finance Co., Amana Medical Care and Lily Massage. Amy Sands, Clinton Mitchell and Jules Sherwood of HFF represented the seller, Brixmor Property Group.

September 27, 2018

Acquisitions Multifamily Southeast Tennessee Top Stories

Morgan Properties Enters Nashville Market with $91M Multifamily Portfolio Acquisition

by Camren Skelton September 27, 2018

NASHVILLE, TENN. — Morgan Properties has acquired a four-property, 826-unit multifamily portfolio in Nashville for $91 million. Cardone Capital sold the garden-style properties, which include Hickory Creek, Lincoya Bay, Sheffield Heights and Jackson Grove. The transaction is the first acquisition in Tennessee for Morgan Properties, a national real estate investment and management company headquartered in King of Prussia, Penn. “Entering Nashville is a major milestone for Morgan Properties,” says Jonathan Morgan, president of Morgan Properties JV, an affiliate of Morgan Properties. “Nashville is a hot market and we have been targeting it for quite some time. We felt this portfolio gave us a foundation to build on as we continue to seek follow-on investment opportunities to scale our footprint in the market.” Morgan Properties plans to invest $8.7 million in renovations to the properties that will include enhancing curb appeal and signage; upgrades to kitchens and bathrooms; washer and dryer installations; and enhancements to the fitness center, playgrounds, dog parks, pool areas, exterior fitness areas and other amenities. In addition, the company will provide new tech features such as electronic locks, Wi-Fi enabled thermostats and light switches, and an Amazon Echo with voice control over all devices in select units. Morgan …

September 27, 2018

Acquisitions Healthcare Massachusetts Northeast

NKF Capital Markets Brokers $23.5M Sale of Norwood Medical Center in Massachusetts

by David Cohen September 26, 2018

NORWOOD, MASS. — NKF Capital Markets has brokered the $23.5 million sale of Norwood Medical Center in Norwood. Located at 825 Washington St., the 92,400-square-foot facility is anchored by Steward Health Care. Frank Nelson, Michael Greeley, James Tribble and Casey O’Brien of NKF Capital Markets represented the seller, Grander Capital Partners, in the transaction. The buyer was an affiliate of Thor Equities.

September 26, 2018

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