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Artisan Realty Advisors Acquires 40,000 SF Retail Property in Hollywood for $61M

by Amy Works June 4, 2018

HOLLYWOOD, CALIF. — Santa Monica, Calif.-based Artisan Realty Advisors has purchased Space 15 Twenty, a retail property located at 1520, 1534, 1538 and 1542 N. Cahuenga Blvd. and 1535 Ivar Ave. in Hollywood. Cahuenga Lofts and Ivar Group sold the property for $61 million. Situated on a 71,000-square-foot land parcel, the property consists of two buildings with an open space area and a surface parking lot. Urban Outfitters, Umami Burgers, Free People and Pharmacy Boardshop, a skate shop, occupy the property. The asset was built in the mid-1920s and renovated in 2007. Cory Stehr of Lee & Associates-LA North/Ventura represented the sellers in the transaction.

June 4, 2018

Acquisitions Kansas Midwest Retail

Block & Co. Brokers $1.1M Sale of Gas Station, Convenience Store in Stilwell, Kansas

by Kristin Harlow June 4, 2018

STILWELL, KAN. — Block & Co. Inc. Realtors has brokered the $1.1 million sale of a 2,887-square-foot gas station and convenience store net leased to Shell in Stilwell, about 30 miles south of Kansas City. The property is located on a 2.4-acre lot at 7770 W. 199th St. David Block and Daniel Brocato of Block & Co. represented the seller, 8386 Blackburn Partners LLC. Arshad Mahmood purchased the asset.

June 4, 2018

Acquisitions Florida Multifamily Southeast

American Landmark Acquires 1,212-Unit Multifamily Portfolio Across Three States

by Camren Skelton June 1, 2018

TAMPA, FLA. — American Landmark has acquired a four-property multifamily portfolio located in Florida, Georgia and South Carolina. In Florida, the Tampa-based multifamily owner and operator acquired Bella Apartment Homes, located at 3101 Segreto Lane in Kissimmee, roughly 22 miles south of Orlando. The 432-unit property was built in 2010 and was 96 percent occupied at the time of sale. American Landmark will rename the community The Aspect. In metro Atlanta, American Landmark acquired two properties: Arbor Terrace in Douglasville and Summerset in Conyers. The 300-unit Arbor Terrace, located at 1 Rocky Ridge Blvd., was built in 2003 and was 95 percent occupied at the time of sale. The community will be renamed One Rocky Ridge. Summerset, which will be renamed The Oxford, is located at 50 Greenleaf Road. The 240-unit property was constructed in 1999 and was 96 percent occupied at the time of sale. In Charleston, American Landmark acquired Arbor Village, a 240-unit community located at 10825 Dorchester Road. The community was built in 2014 and was 93 percent occupied at the time of sale. The name of the seller and sales price were not disclosed.

June 1, 2018

Acquisitions Industrial Nevada Western

MCA Realty Acquires Five-Building Industrial Property in Las Vegas

by Amy Works June 1, 2018

LAS VEGAS — MCA Realty has purchased a five-building industrial property located at 4610-4650 Arville St. in Las Vegas. A private seller sold the asset for an undisclosed price in an off-market transaction. The value-add asset features 83,750 square feet of industrial space. MCA Realty plans to replace the roofs, repaint the building’s exterior, improve the landscaping and signage, and update the interior units as leases end. At the time of sale the property was 100 percent occupied. Rob Lujan, Jason Simon and Xavier Wasiak of JLL represented the buyer in the deal.

June 1, 2018

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $18.6M Sale of Apartment Property in Blue Island, Illinois

by Kristin Harlow June 1, 2018

BLUE ISLAND, ILL. — Kiser Group has brokered the $18.6 million sale of Blue Station Apartments in Blue Island, about 16 miles south of Chicago. The 345-unit apartment complex is located at 2130 W. 122nd St. The buyer, an undisclosed national portfolio owner, purchased the property from Kinzie Realty Corp. Kinzie assembled the apartments through multiple acquisitions. Community amenities include an on-site convenience store and daycare center. Lee Kiser and Matt Halper of Kiser brokered the transaction.

June 1, 2018

Acquisitions Industrial Midwest Minnesota

CBRE Arranges $12.3M Sale of Industrial Property in Maple Grove, Minnesota

by Kristin Harlow June 1, 2018

MAPLE GROVE, MINN. — CBRE has arranged the sale of Five Star Commerce Center in Maple Grove, about 15 miles northwest of Minneapolis. The 163,012-square-foot industrial property is comprised of three buildings. Constructed in 1999, the property is fully occupied. Major tenants include Next Day Automation, Dance Complex, TruGreen and Brush Masters Inc. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, Interstate Partners. Sterling Office and Industrial Properties LLC, a North Dakota-based REIT, acquired the asset.

June 1, 2018

Acquisitions Retail Texas

HFF Arranges Sale of 125,500 SF, Grocery-Anchored Shopping Center in Houston

by Taylor Williams May 31, 2018

HOUSTON — HFF has arranged the sale of Tanglewood Court, a 125,500-square-foot shopping center located in Galleria/Uptown area of Houston. An H-E-B grocery store anchors the property, which was built in 2014 and fully leased at the time of sale. Other tenants include Mattress Firm, La Madeleine, SH Salon and Memorial Hermann. Rusty Tamlyn, Ryan West, John Indelli and Charlie Strauss of HFF represented the seller, a partnership between Fidelis Realty Partners and BayNorth Capital LLC, in the transaction. Colby Mueck and Michael Johnson of HFF secured an undisclosed amount of acquisition financing through a national life insurance company on behalf of the new owner, American Realty Advisors.

May 31, 2018

Acquisitions Midwest Missouri Retail

Block & Co. Brokers $3.6M Sale of Retail Building in St. Joseph, Missouri

by Kristin Harlow May 31, 2018

ST. JOSEPH, MO. — Block & Co. Inc. Realtors has brokered the sale of a 90,348-square-foot retail building in St. Joseph, about 55 miles north of Kansas City. Orscheln Farm & Home, a farm and ranch supply store company, purchased the property for its new location. The building is part of a shopping center that includes Hy-Vee, Shoe Carnival, Fashion Bug and Sally Beauty. Tony DeTommaso and Mark McConahay of Block represented the seller, Heartland Health Business Plaza LLC. Carl LaSala of NAI LaSala-Sonnenberg Heartland represented the buyer.

May 31, 2018

Acquisitions Hospitality Kansas Midwest

Hunter Hotel Advisors Arranges Sale of 147-Room Hotel in Kansas City, Kansas

by Kristin Harlow May 31, 2018

KANSAS CITY, KAN. — Hunter Hotel Advisors has arranged the sale of the 147-room Hilton Garden Inn in Kansas City for an undisclosed price. Peachtree Hotel Group purchased the hotel from Fairwood Capital. The property is located next door to the Reardon Convention Center and offers more than 1,375 square feet of meeting and event space. David Perrin of Hunter Hotel Advisors brokered the transaction.

May 31, 2018

Acquisitions Multifamily Nevada Western

Bascom Group Sells 336-Unit Multifamily Property in Las Vegas to RK Properties for $59.2M

by Amy Works May 31, 2018

LAS VEGAS — The Bascom Group has completed the disposition of Montecito Pointe, an apartment community located at 9745 Grand Teton Drive in northwest Las Vegas. RK Properties acquired the property for $59.2 million. Completed in 2007, the community features 336 apartments, with an average unit size of 981 square feet. Amenities include a pool, fitness center, children’s play area and pet exercise park. John Cunningham and Charles Steele of JLL represented the seller in the deal.

May 31, 2018

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