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Interra Arranges $16.5M Sale of Adjacent Mixed-Use Buildings in Chicago

by Kristin Harlow June 25, 2018

CHICAGO — Interra Realty has arranged the sale of two adjacent mixed-use buildings in Chicago’s Edgewater neighborhood for $16.5 million. Located on North Broadway Avenue, a 95,000-square-foot building is comprised of 42 apartment units and two street-level retail spaces, one of which is leased to a daycare center. The asset sold for $15.8 million. An adjacent mixed-use building includes two apartment units and 1,800 square feet of ground-floor retail space. The asset sold for $745,000. A private buyer purchased both of the properties. The seller was not disclosed. Craig Martin and Brian DiBasilio of Interra represented both parties in the sale.

June 25, 2018

Acquisitions Midwest Multifamily Ohio

Colliers Negotiates $2.1M Sale of Apartment Building in Columbus, Ohio

by Kristin Harlow June 25, 2018

COLUMBUS, OHIO — Colliers International has negotiated the sale of Cambridge Apartments in Columbus for $2.1 million. The apartment building, located at 3170 Cleveland Ave., includes 66 units. Will Mathews, Russ Williamson, Carter Brehm, Tyler Hague and Jack Maloney of Colliers represented the seller, AMG Mario LLC. Ravi Chenna, a private buyer, purchased the asset.

June 25, 2018

Acquisitions California Multifamily Western

Levin Johnston Negotiates $13.6M Acquisition of Multifamily Community in Redwood City, California

by Amy Works June 25, 2018

REDWOOD CITY, CALIF. — Levin Johnston, a division of Marcus & Millichap, has arranged the purchase of 10 Birch, a multifamily property located at 10 Birch St. in the Mount Carmel neighborhood of Redwood City. A private investor acquired the property for $13.6 million from another private investor, which was the long-time owner of the property. The buyer plans to renovate the exterior of the property, as well as execute a full interior remodel on each of the 27 apartment units. Adam Levin and Robert Johnston of Levin Johnston represented the buyer in the transaction.

June 25, 2018

Acquisitions California Industrial Western

DAUM Commercial Brokers $16.1M Sale of Industrial Property in Southern California

by Amy Works June 22, 2018

BREA, CALIF. — DAUM Commercial has brokered the sale of an industrial property located 331-333 Cliffwood Park St. in Brea. SAME Investments sold the building to LFT-Cliffwood for $16.1 million. Constructed in 1974, the 99,552-square-foot property features 7,900 square feet of office space, four dock-high loading doors, a ground-level loading door, 22- to 24-foot minimum warehouse clearance, a fenced yard and a recently installed Energy Star-rated “cool roof.” Chris Migliori and the DAUM Commercial team represented the seller, while Chuck Wilson and Brain Chastain of Colliers International represented the buyer in the deal.

June 22, 2018

Acquisitions Illinois Industrial Midwest

Colliers Brokers Sale of 486,062 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow June 22, 2018

CHICAGO — Colliers International has brokered the sale of a three-building, 486,062-square-foot industrial portfolio in metro Chicago for an undisclosed price. Built between 1972 and 1984, the properties have been updated with truck docking, trailer parking and new lighting. The facilities include a 212,728-square-foot warehouse in Batavia, a 204,586-square-foot warehouse in Alsip, and a 68,728-square-foot property in St. Charles. The buildings are fully leased to four tenants. Jeff Devine and Steve Disse of Colliers represented the seller, DCT Industrial Trust (NYSE: DCT). Cabot Properties was the buyer.

June 22, 2018

Acquisitions North Carolina Office Southeast

CBRE Global Investors Acquires Newly Constructed Office Building in Uptown Charlotte for $222M

by Camren Skelton June 22, 2018

CHARLOTTE, N.C. — CBRE Global Investors has acquired 615 South College, a newly constructed office building located in Charlotte’s Uptown district. The sales price was not disclosed, but the Charlotte Business Journal reports the asset sold for $222 million, or roughly $590 per square foot. The seller, Atlanta-based Portman Holdings, delivered the 375,865-square-foot property in 2017. The 18-story building is connected to The Westin hotel and features 10-foot ceiling heights, floor-to-ceiling glass windows, multiple two-story balconies and a parking garage with 1,456 spaces. CBRE will manage 615 South College, and Anne Vulcano and Joe Franco of CBRE will handle the building’s leasing assignment. At the time of sale, the property was 84 percent leased to tenants including Regions Bank, WeWork and BDO USA.

June 22, 2018

Acquisitions Office Texas

JLL Brokers Sale of Former Halliburton Office Campus in Houston

by Taylor Williams June 21, 2018

HOUSTON — JLL has brokered the sale of Halliburton’s former Oak Park campus, a 48-acre office property located in the Westchase District of Houston. The property includes a 568,000-square-foot office building, a 17,500-square-foot fitness center, daycare, central plant and a five-level parking garage. The office building was built in 1979 and upgraded in 2013. Rudy Hubbard, Kevin McConn, Rick Goings and Dan Bellow of JLL led the sales effort. A local private investment group purchased the asset for an undisclosed price.

June 21, 2018

Acquisitions Industrial Northeast

CBRE Negotiates $18M Sale of Industrial Facility in New Jersey

by David Cohen June 21, 2018

KEASBEY, N.J. — CBRE has negotiated the $18 million sale of a 133,032-square-foot industrial facility in Keasbey. The building is located at 100 Crows Mill Rd. William Waxman, Mindy Lissner, Steven I. Beyda and Robert Pine of CBRE represented the seller, TA Realty, in the transaction. Dorothy Chuang of CBRE represented the buyer, California-based Seville Gateway Investments. Built in 1971, the property is located at the crossroads of the New Jersey Turnpike and the Garden State Parkway. The facility was recently renovated and offers on-site trailer parking and LED lighting.

June 21, 2018

Acquisitions Florida Multifamily Southeast

Lloyd Jones Acquires 444-Unit Apartment Community in Tallahassee for $57.8M

by Camren Skelton June 21, 2018

TALLAHASSEE, FLA. — Lloyd Jones has acquired The Westcott Apartments, a 444-unit multifamily community located at 3909 Reserve Drive in Tallahassee, for $57.8 million. The name of the seller was not disclosed. Constructed in 2000 and 2005, the community offers a mix of one-, two- and three-bedroom floor plans and features two swimming pools, two fitness center, playgrounds and tennis courts. Lloyd Jones plans to renovate The Westcott, which is the Miami-based private equity investor’s second acquisition in the Tallahassee area.

June 21, 2018

Acquisitions California Industrial Western

Avison Young Brokers $16.8M Acquisition of Industrial Building in Temecula, California

by Amy Works June 21, 2018

TEMECULA, CALIF. — Avison Young has arranged the acquisition of MCA Business Center, a newly constructed industrial building located on Dendy Parkway in Temecula. An undisclosed buyer purchased the property from MCA Realty for $16.8 million. The buyer plans to occupy the entire 143,689-square-foot facility. Completed in 2018, MCA Business Center features 32-foot clear-height ceilings, 120-foot truck courts, 26 dock-high loading doors, three grade-level doors, 255 skylights and unobstructed views of the Temecula Valley. The property is located within Westside Business Center, a 385-acre master-planned business park that is 95 percent built out. Stan Nowak and Cody Lerner of Avison Young represented the buyer, while Lee & Associates, along with CBRE, represented the seller in the deal.

June 21, 2018

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