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Passman Group Brokers $6.7M Sale of Beverlywood Plaza in Los Angeles

by Amy Works April 27, 2022

LOS ANGELES — The Passman Group has arranged the sale of Beverlywood Plaza, a shopping center located in Beverlywood, a neighborhood in the Westside region of Los Angeles. The property traded for $6.7 million, or $710 per square foot. The names of the buyer and seller were not released. Situated on a 13,500-square-foot lot, the property features 9,500 square feet of retail space. Current tenants include Beverly Robertson Veterinary Clinic and Beverlywood Market. David Passman, Marc Pakravan and Michael Navi of The Passman Group represented the seller in the deal.

April 27, 2022

Acquisitions Florida Multifamily Southeast

Institutional Property Advisors Arranges Sale of 246-Unit Apartment Community in Orlando

by Julia Sanders April 27, 2022

ORLANDO, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of NORA, a 246-unit multifamily property in downtown Orlando. Shelton Granade, Luke Wickham and Justin Basquill of IPA represented the seller, GDC Properties, and procured the buyer, G.W. Williams Co. The sales price was not disclosed. Built in 2014, NORA has controlled access throughout, an integrated parking garage with over 400 spaces and 9,263 square feet of ground-floor retail space. Community amenities include a resort-style pool, electric car charging stations and a clubhouse. Unit features include nine-foot ceilings, floor-to-ceiling windows and full-size, stackable washers and dryers. Select units have moveable islands with drawers and wine racks, private patios or balconies and views of the downtown skyline. Located at 899 N. Orange Ave., the six-story property is situated 17.5 miles from the Walt Disney World Resort.

April 27, 2022

Acquisitions Industrial Texas

Clarion Partners Buys 1.4 MSF Intermodal Commerce Park in Fort Worth

by Taylor Williams April 27, 2022

FORT WORTH, TEXAS — New York-based investment firm Clarion Partners has purchased Intermodal Commerce Park, a 1.4 million-square-foot industrial development located within the 26,000-acre AllianceTexas master-planned community in Fort Worth. Built in 2021, the property consists of three buildings with 36- to 40-foot clear heights, 266 dock-high doors, 10 ramp doors, 325 trailer parking stalls and 641 car parking spaces. Tenants include H-E-B, Volkswagen, Prairie Industries and ANEW Business Solutions. Dustin Volz, Stephen Bailey, Dom Espinosa, Wells Waller and Jack Copher of JLL represented the seller, a partnership between Gruene Real Estate Partners, Weber & Co. and Crow Holdings Development, in the transaction. JLL has also been retained by Clarion to lease the property.

April 27, 2022

Acquisitions Maryland Retail Southeast

Continental Realty Corp. Sells Shopping Center in Metro Baltimore for $11.9M

by Julia Sanders April 26, 2022

DUNDALK, MD. — Baltimore-based Continental Realty Corp. (CRC) has sold Merritt Manor Shopping Center, an 88,332-square-foot, fitness-anchored retail center in Dundalk. Columbia, Md.-based Abrams Development Group purchased the property for $11.9 million. Dean Zang and David Crotts of Marcus & Millichap represented CRC in the transaction. Merritt Manor was 96 percent leased at the time of sale to tenants including Gold’s Gym, Sherwin-Williams, Dollar General, Hair Cuttery, GNC, Chicken Rico and Leslie’s Swimming Pool Supplies. CRC completed renovations on the property, including upgrading the center’s exterior facade, enhancing all landscaping elements and upgrading the center’s signage. Located at 1119-1211 Merritt Blvd., the property is 9.9 miles from Baltimore and 18.7 miles from Baltimore/Washington International Thurgood Marshall Airport.

April 26, 2022

Acquisitions Office Oregon Western

JLL Capital Markets Arranges Sale of 211,863 SF Call Center Building Near Portland

by Amy Works April 26, 2022

HILLSBORO, ORE. — JLL Capital Markets has brokered the sale of a single-story call center building, located at 10500 NE Walker Road in Hillsboro, a suburb of Portland. A public REIT sold the asset to Hines Global Income Trust for an undisclosed price. Situated on an 18.9-acre site, 10500 NE Walker Road was renovated in 2009. The property features 16-foot ceiling heights, three dock-high doors, two grade-level doors, 938 parking spaces and LEED Silver certification. The property is fully leased to a long-term financial services tenant. Buzz Ellis, Adam Lasoff, Adam Taylor, Ira Virden, Carrie Kahn, Frank Solorzano and Conan Lee of JLL Capital Markets represented the seller and procured the buyer in the deal.

April 26, 2022

Acquisitions Multifamily Texas

Newmark Brokers Sale of 264-Unit Ashford Apartments in Carrollton, Texas

by Taylor Williams April 26, 2022

CARROLLTON, TEXAS — Newmark has brokered the sale of Ashford, a 264-unit apartment community located in the northern Dallas suburb of Carrollton. Built in 1995, Ashford features one- and two-bedroom units with an average size of 985 square feet that include private balconies/patios. The amenity package comprises a clubhouse with fireplace, kitchen and outdoor seating, as well as a pool with a lounge area, fitness center and a dog park. Los Angeles-based investment firm Pegasus Real Estate sold the asset to an undisclosed buyer for an undisclosed price. Brian Murphy, Brian O’Boyle, Jr., Richard Furr and Jakob Andersen of Newmark brokered the deal.

April 26, 2022

Acquisitions Illinois Industrial Midwest Self-Storage

JLL Brokers Sale of 4,317-Unit Self-Storage Portfolio Across Three States

by Kristin Harlow April 26, 2022

CHICAGO — Chicago-based JLL Capital Markets has brokered the sale of an eight-property self-storage portfolio totaling 4,317 units across Illinois, North Carolina and Texas for an undisclosed price. In addition to a property in Chicago, the facilities are located in Plano, Little Elm, Garland and Flower Mound, Texas; and Durham, Raleigh and Spring Lake, N.C. The portfolio was 93 percent leased as of year-end 2021. Steve Mellon and Brian Somoza led the JLL team that represented the seller, Harrison Street. Life Storage was the buyer.

April 26, 2022

Acquisitions Georgia Retail Southeast

First National Realty Acquires 170,000 SF Grocery-Anchored Shopping Center in Savannah

by Julia Sanders April 25, 2022

SAVANNAH, GA. — Red Bank, N.J.-based First National Realty Partners LLC has acquired McAlpin Square, a 170,000-square-foot shopping center in Savannah. David Rivers of Palomar Group represented the undisclosed seller in the transaction. The sales price was not disclosed. Opened in 1980, McAlpin Square is anchored by a 43,600-square-foot Kroger, one of the original tenants at the center. Kroger operates a branded onsite fuel center as well. McAlpin Square’s other retailers include Big Lots, Goodwill, the US Postal Service, Family Dollar, Rainbow, Rent-A-Center, Subway, Domino’s Pizza and GameStop. Located at 1900 E. Victory Drive, McAlpin Square sits at the intersection of East Victory Boulevard and Truman Parkway, just three miles southeast of downtown Savannah.

April 25, 2022

Acquisitions Arizona Multifamily New Mexico Western

IPA Brokers $201.7M Sale of Multifamily Portfolio in Phoenix, Albuquerque

by Amy Works April 25, 2022

PHOENIX AND ALBUQUERQUE, N.M. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a three-property apartment portfolio in Arizona and New Mexico. JB Partners sold the assets to Bridge Investment Group for $201.7 million. The portfolio includes the 296-unit Villages at Metro Center, which was built in 1979 on 11 acres in Phoenix; the 273-unit Crystal Creek, which was constructed in 1985 on eight acres in Phoenix; and the 216-unit Indigo Park, which was built in 1974 on 7.5 acres in Albuquerque. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the transaction. Ryan Sarbinoff of Marcus & Millichap served as broker of record in New Mexico.

April 25, 2022

Acquisitions Midwest Multifamily Ohio Seniors Housing

SLIB Brokers Sale of 267-Bed Seniors Housing Community in Mason, Ohio

by Kristin Harlow April 25, 2022

MASON, OHIO — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cedar Village, a seniors housing community in Mason, Ohio, approximately 22 miles northeast of downtown Cincinnati. Cedar Village features 105 independent living/assisted living units and 162 skilled nursing beds. The seller was a nonprofit owner based in Indiana divesting of its only community in Ohio. The buyer was a regional owner with other properties nearby. The price was not disclosed. Ryan Saul of SLIB handled the transaction.

April 25, 2022

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