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MAG Capital Partners Sells 48,237 SF Manufacturing Facility in Marion, Iowa

by Kristin Harlow August 23, 2022

MARION, IOWA — MAG Capital Partners LLC has sold a 48,237-square-foot manufacturing facility in Marion, a northwest suburb of Cedar Rapids. A private West Coast-based partnership purchased the asset for an undisclosed price. Judd Dunning of DWG Capital Group represented both the buyer and seller. The property serves as the corporate headquarters of Advanced Material Processing, which focuses on material processing equipment for the food and beverage, pharmaceutical, nutraceutical and chemical sectors. MAG Capital Partners acquired the property in a sale-leaseback transaction in October 2020.

August 23, 2022

Acquisitions Multifamily Texas

DLP Capital, Elevate Commercial Buy 350-Unit Apartment Community in Metro Houston

by Taylor Williams August 23, 2022

LA PORTE, TEXAS — Florida-based investment firm DLP Capital and Dallas-based Elevate Commercial Investment Group have acquired Domain at Morgan’s Landing, a 350-unit apartment community located in the eastern Houston suburb of La Porte. Built in 2021, the garden-style property houses one-, two- and three-bedroom units and offers amenities such as a pool, movie screening room, lounge with billiards and poker tables, fitness center, video arcade, a dog park and outdoor grilling stations. The seller and sales price were not disclosed.

August 23, 2022

Acquisitions Multifamily Texas

Newmark Brokers Sale of 240-Unit Multifamily Property in Northwest San Antonio

by Taylor Williams August 22, 2022

SAN ANTONIO — Newmark has brokered the sale of Viva Max, a 240-unit multifamily property in northwest San Antonio. Viva Max features one- and two-bedroom units with an average size of 733 square feet. The amenity package comprises a pool, clubhouse, picnic area, onsite laundry facilities, a playground and package handling services. Jim Young and Chase Easley of Newmark represented the seller in the transaction. New York-based River Rock Capital purchased the asset for an undisclosed price with plans to implement a value-add program. Viva Max was roughly 98 percent occupied at the time of sale.

August 22, 2022

Acquisitions Connecticut Multifamily Northeast

Rosewood Realty Negotiates $101M Sale of Multifamily Property in Trumbull, Connecticut

by Taylor Williams August 22, 2022

TRUMBULL, CONN. — New York City-based brokerage firm Rosewood Realty Group has negotiated the $101 million sale of The Royce at Trumbull, a 339-unit multifamily property located in southern Connecticut’s Fairfield County. AvalonBay Communities originally developed the property, which houses one-, two- and three-bedroom units, in 1997. Jonathan Brody of Rosewood Realty Group represented the seller, a partnership between Sym Investments and Skywood Properties, which acquired the asset in spring 2021 for $82 million. Brody also procured the buyer, Massachusetts-based Colony Hills Capital. The Royce at Trumbull was 99 percent occupied at the time of sale.

August 22, 2022

Acquisitions Arizona Multifamily Western

Avanti Residential Sells Villas at Mountain Vista Ranch Apartments in Surprise, Arizona for $85M

by Amy Works August 22, 2022

SURPRISE, ARIZ. — Avanti Residential has completed the disposition of Villas at Mountain Vista Ranch, an apartment property located at 16630 N. Reems Road in Surprise. An undisclosed buyer acquired the asset for $85 million. Built in 2003, Villas at Mountain Vista Ranch features 256 apartments in a mix of one-, two- and three-bedroom floor plans with an average unit size of 1,008 square feet. Apartments include in-unit washers/dryers. Onsite amenities include a pool with lounge seating and a fitness center. Brad Goff, Brett Polachek and Chris Canter of Newmark represented the seller in the transaction. Newmark also arranged financing for the acquisition.

August 22, 2022

Acquisitions Office Southeast Tennessee

Cooper Commercial Negotiates $24.5M Sale of Parkside Plaza I Office Building in Knoxville

by John Nelson August 22, 2022

KNOXVILLE, TENN. — The Cooper Commercial Investment Group has negotiated the $24.5 million sale of Parkside Plaza I, an office building in Knoxville that was fully leased at the time of sale to tenants such as Raymond James and Waste Connections. Dan Cooper of Cooper Commercial represented the seller, a private investor and repeat client of Cooper Commercial, in the transaction. The buyer was an undisclosed, privately based investment group based in Louisville, Ky.

August 22, 2022

Acquisitions Kansas Midwest Multifamily Northmarq

Northmarq Arranges $10M Sale of Multifamily Property in Overland Park, Kansas

by Kristin Harlow August 22, 2022

OVERLAND PARK, KAN. — Northmarq has arranged the sale of Antioch Crossing in Overland Park for $10 million. The 90-unit, three-story multifamily property, built in 1968, is located at 8710 W. 106th Terrace near I-435. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, Worcester Investments. Greg Duvall and John Duvall of Northmarq arranged acquisition financing through an agency lender on behalf of the buyer, Balfour Real Estate, which plans to renovate the majority of the units.

August 22, 2022

Acquisitions Industrial Northeast Pennsylvania

JLL Brokers $54.5M Sale of Lehigh Valley Warehouse, Distribution Center

by Taylor Williams August 19, 2022

SHOEMAKERSVILLE, PA. — JLL has brokered the $54.5 million sale of a 310,238-square-foot warehouse and distribution center located in the Lehigh Valley community of Shoemakersville. Built on roughly 24 acres in 2022, the facility features a clear height of 36 feet, 40 loading doors, 185-foot truck court depths and parking for 81 trailers and 185 cars. John Plower, Ryan Cottone, Jeff Lockard and Ryan Barros of JLL represented the seller, a joint venture between The Keith Corp. and The Kiel Group, in the transaction. The buyer was not disclosed. At the time of sale, the facility was fully leased to online fashion retailer Revolve Group and Arcadian Crossing Consumer Products, which provides disposable tabletop and food storage solutions.

August 19, 2022

Acquisitions California Net Lease Retail Western

Faris Lee Investments Negotiates $19.5M Acquisition of Anaheim Resort Centre Retail Property Near Disneyland

by Amy Works August 19, 2022

ANAHEIM, CALIF. — Faris Lee Investments has arranged the purchase of Anaheim Resort Centre, a retail investment opportunity located within the Disneyland Resort District in Anaheim. An Irvine-based family office acquired the asset from an undisclosed seller for $19.5 million. Located on the corner of Harbor Boulevard and Katella Avenue, Anaheim Resort Centre features 10,000 square feet of retail space that nine tenants fully occupy on a triple-net lease basis. Nick Miller and Shaun Riley of Faris Lee Investments represented the buyer in the transaction.

August 19, 2022

Acquisitions Development Industrial South Carolina Southeast

PRP Purchases 1.9 MSF Distribution Center Underway in Upstate South Carolina

by John Nelson August 18, 2022

MOORE, S.C. — PRP has purchased a new distribution center under construction in Moore totaling nearly 1.9 million square feet. Situated in South Carolina’s Upstate region, the modern distribution center will be fully leased to Hart Consumer Products, a subsidiary of Techtronic Industries Co. Ltd. that produces power tools and lawn and garden equipment. PRP will finish developing the build-to-suit project with joint venture partner Flint Development. The total capitalization of the development is $185 million and will be fully completed by the fourth quarter of 2023, according to PRP. The property will feature a cross-dock loading configuration, 40-foot clear heights, 338 dock doors, a 185-foot truck court and 835 spaces of excess trailer parking on 178 acres.

August 18, 2022

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