sale1

Lodge Partners Divests of Lodge on the Desert Resort in Tucson, Arizona

by Amy Works October 7, 2022

TUCSON, ARIZ. — Lodge Partners has completed the disposition of The Lodge on the Desert, a hotel resort property located at 306 N. Alvernon Way in Tucson. Chicago-based Atira Hotels acquired the asset for an undisclosed price. Situated on five acres, The Lodge on the Desert offers 102 guest rooms. The property was first built in the 1934 as a residence and was converted to a guest ranch with seven rooms in 1936. The asset was expanded into a larger hotel property with the addition of deluxe guestrooms, a restaurant and outdoor space. Bill Murney and Jesse Heydorff of Cushman & Wakefield’s hospitality team in Phoenix represented the seller in the transaction.

October 7, 2022

Acquisitions Industrial Texas

United Properties, PCCP Sell 474,465 SF Industrial Property in Metro Austin

by Taylor Williams October 6, 2022

BUDA, TEXAS — A joint venture between Minneapolis-based United Properties and Los Angeles-based PCCP LLC has sold three industrial buildings totaling 474,465 square feet in Buda, located on the southern outskirts of Austin. The two rear-load buildings and one cross-dock building, which are situated on a 35.3-acre site, represent Phase I of a larger development known as Buda Midway. Combined, the structures feature 30- to 36-foot clear heights, 138 dock doors, 60 trailer parking stalls and 678 car parking spaces. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Megan Babovec of JLL represented the seller in the transaction. The buyer and sales price were not disclosed. The buildings were fully leased at the time of sale. Phase II of Buda Midway will consist of four rear-load buildings totaling roughly 390,000 square feet.

October 6, 2022

Development Industrial Texas

Bridge Logistics Properties Buys 203,430 SF Industrial Facility in Grand Prairie, Texas

by Taylor Williams October 6, 2022

GRAND PRAIRIE, TEXAS — Bridge Logistics Properties, an affiliate of Utah-based investment firm Bridge Investment Group Holdings (NYSE: BRDG), has purchased a 203,430-square-foot industrial facility in the central metroplex city of Grand Prairie. Situated on 12 acres, the property features 32-foot clear heights, 180-foot truck court depths, 42 dock-high doors and 49 trailer parking stalls. Kurt Griffin and Nathan Orbin of Cushman & Wakefield represented the undisclosed seller in the transaction.

October 6, 2022

Acquisitions Multifamily Southeast Tennessee

Newmark Brokers $96.5M Sale of Alta Union Apartments in Nashville’s The Nations Neighborhood

by John Nelson October 6, 2022

NASHVILLE, TENN. — Newmark has brokered the $96.5 million sale of Alta Union, a newly constructed, 283-unit apartment community located at 5800 Centennial Blvd. in Nashville. Weinstein Properties purchased the property from the developer, Wood Partners. Tarek El Gammal and Vincent Lefler of Newmark represented the seller in the transaction. Located in The Nations neighborhood, Alta Union features a two-story clubhouse with outdoor terraces on the second level, a swimming pool, courtyard, private offices for rent and individual and group coworking spaces.

October 6, 2022

Acquisitions Indiana Industrial Midwest North Dakota Ohio

Provender Partners Buys 483,000 SF Refrigerated Warehouse Portfolio Across Four States for $29.9M

by Kristin Harlow October 6, 2022

NEWPORT BEACH, CALIF. — Newport Beach-based Provender Partners has purchased a four-property food production and distribution portfolio totaling 483,000 square feet from SpartanNash for $29.9 million. The portfolio is made up of four temperature-controlled buildings. These include a 171,371-square-foot food processing and distribution facility in Indianapolis; a 160,986-square-foot food distribution facility in Minot, N.D.; a 103,838-square-foot grocery distribution property in Newcomerstown, Ohio; and a 42,124-square-foot frozen and refrigerated distribution building in Lakeland, Fla. All of the buildings were constructed between 1990 and 2005 and feature clear heights of 30 feet or higher. Provender plans a multi-million-dollar capital improvements program across the portfolio, including a full refrigeration refit, roof repairs, and interior and exterior upgrades to meet the demands of today’s food companies. Chuck Rosien of JLL represented the seller. With this acquisition, Provender has purchased 1.8 million square feet of cold storage and temperature-controlled facilities in 2022.

October 6, 2022

Acquisitions Arizona Single-Family Rental Western

Northmarq Negotiates $30.1M Sale of Single-Family Rental Community in Phoenix

by Amy Works October 6, 2022

PHOENIX — Northmarq has brokered the sale of Proximity of 16th Apartments, a single-family rental property in Phoenix. Scottsdale-based Avenue North LLC sold the asset to Sandy, Utah-based Bridge Founders Group for $30.1 million, or $354,118 per unit. Built in 2021, Proximity on 16th features 85 single-family rental residences in a mix of one-, two- and three-bedroom homes that range in size from 679 square feet to 1,339 square feet. The community includes 60 one-story and 25 two-story units with stainless steel appliances, quartz countertops, full-size washers/dryers, walk-in closets, wood-inspired flooring and patios with private backyards. The community features a pool, barbecue area, garages, covered parking and electric vehicle charging. At the time of sale, the property was 95 percent leased. Trevor Koskovich, Jesse Hudson, Bill Hahn and Ryan Boyle of Northmarq’s Phoenix investment sales team represented the seller in the deal.

October 6, 2022

Acquisitions Multifamily Oregon Western

Trion Properties Sells Hallwood Apartments in Beaverton, Oregon for $21.5M

by Amy Works October 5, 2022

BEAVERTON, ORE. — Trion Properties has completed the disposition of The Hallwood Apartments, an apartment property in Beaverton, to a private buyer for $21.5 million. Liz Tilbury of Tilbury Ferguson Investment Real Estate represented Trion and the buyer in the deal. Located at 7535 SW Hall Blvd., The Hallwood Apartments features 76 units in a mix of one- and two-bedroom layouts. The property offers washers, dryers, a swimming pool, ample covered parking and an on-site leasing office. Trion implemented a series of property-wide renovations to the asset, which was constructed in 1986.

October 5, 2022

Acquisitions Kansas Midwest Multifamily Northmarq

Northmarq Arranges $11.5M Sale of Apartment Building in Lawrence, Kansas

by Kristin Harlow October 5, 2022

LAWRENCE, KAN. — Northmarq has arranged the sale of 901 Lofts in Lawrence for $11.5 million. The apartment building rises seven stories with 55 units. Built in 2011, the property at 901 New Hampshire St. includes 20,843 square feet of commercial space. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, First Management Inc. Buyer information was not provided.

October 5, 2022

Richland-Marketplace-Quakertown-Pennsylvania

Acquisitions Northeast Pennsylvania Retail

FNRP Acquires 162,000 SF Richland Marketplace in Quakertown, Pennsylvania

by Taylor Williams October 5, 2022

QUAKERTOWN, PA. — New Jersey-based investment firm First National Realty Partners (FNRP) has acquired Richland Marketplace, a 162,000-square-foot shopping center in Quakertown, about 50 miles north of Philadelphia. Built in 2009, the center houses tenants such as Aldi, Best Buy, PetSmart, Planet Fitness, Staples, Ulta, Visionworks, Sally Beauty and Skechers. Colin Behr, Jim Galbally, Chris Munley and James Graf of JLL represented the seller, KPR, in the transaction.

October 5, 2022

Acquisitions Kentucky Multifamily Southeast

RealSource Acquires The Mill at Georgetown Apartments in Kentucky for $47M

by John Nelson October 4, 2022

GEORGETOWN, KY. — RealSource Properties Multifamily REIT has purchased The Mill at Georgetown, a 228-unit apartment community located at 115 Magnolia Drive in the Lexington suburb of Georgetown. The Salt Lake City-based investment firm purchased the property from an undisclosed seller for $47 million. Situated three miles from Toyota Motor Manufacturing Kentucky, The Mill at Georgetown features one-, two- and three-bedroom townhouse-style apartments. Amenities include a clubroom, fitness center, resort-style pool with shaded pergola, outdoor lounge, grilling area and a dog park.

October 4, 2022

Newer Posts

Older Posts