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World Premier Investments Buys 219,902 SF Fullerton Town Center in Orange County

by Amy Works June 30, 2022

FULLERTON, CALIF. — A group led by World Premier Investments has acquired Fullerton Town Center, a grocery-anchored neighborhood retail center in Fullerton. Terms of the transaction were not disclosed. Located at the intersection of Harbor Boulevard and Orangethorpe Avenue, Fullerton Town Center features 219,902 square feet of retail space. The property boasts a 98 percent national tenant base, including Amazon Fresh, Ross Dress for Less, Five Below, WSS and an AMC Theatrea dine-in location with food, beverage and elevated service offerings. NewMark Merrill represented the buyer, while Reza Investment Group represented the seller in the deal.

June 30, 2022

Acquisitions Massachusetts Multifamily Northeast

CBRE Brokers $59.2M Sale of Orchard Apartments in Marlborough, Massachusetts

by Taylor Williams June 30, 2022

MARLBOROUGH, MASS. — CBRE has brokered the $59.2 million sale of The Orchard Apartments, a 156-unit multifamily community located in the western Boston suburb of Marlborough. Built in 2002, the property comprises 17 two- and three-story buildings that house lofts, one- and two-bedroom units with an average size of 1,121 square feet. Amenities include a pool, fitness center and a clubhouse. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an affiliate of metro Boston-based National Development, in the transaction. The team also procured the buyer, an affiliate of global investment management firm Nuveen Real Estate.

June 30, 2022

Acquisitions Industrial North Carolina Southeast

CBRE Brokers $37M Sale of Cordage Warehouse in Charlotte

by John Nelson June 29, 2022

CHARLOTTE, N.C. — CBRE has brokered the $37 million sale of Cordage, a Class A warehouse and distribution center located at 11540 Cordage St. in Charlotte’s Arrowood district. Boston-based TA Realty purchased the 212,000-square-foot property from local developer Childress Klein. Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins, Robert Hardaway, Frank Fallon and Trey Barry of CBRE represented the seller in the transaction. Built in 2020, Cordage features 15,519 square feet of office space, 30-foot clear heights, an ESFR sprinkler system, LED lights, 56 dock doors (including six drive-in doors) and 50- by 50-foot column spacing with a 60-foot speed bay. The property also includes a 130-foot truck court with a 60-foot concrete apron and 223 parking spaces. Cordage was fully leased to eight tenants at the time of sale.

June 29, 2022

Acquisitions Georgia Retail Southeast

SRS Arranges $26.1M Sale of North Macon Plaza Shopping Center in Central Georgia

by John Nelson June 29, 2022

MACON, GA. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of North Macon Plaza, a newly built, 151,987-square-foot shopping center in Macon. Chase Acquisitions LLC purchased the center from a joint venture between The Sembler Co. and Berkeley Development for $26.1 million. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction, and the buyer was self-represented. Built in 2019, North Macon Plaza’s tenant roster includes Marshalls/HomeGoods, Michaels, Old Navy and Bealls Outlet. Situated on 18.8 acres along the Bass Road exit of I-75, the shopping center is located across the street from the only Bass Pro Shops in 100 miles, according to SRS.

June 29, 2022

Acquisitions Florida Southeast Student Housing

Vesper, Fortress Acquire 444-Bed Student Housing Community Near University of South Florida in Tampa

by John Nelson June 29, 2022

TAMPA, FLA. — A joint venture between Vesper Holdings and funds managed by affiliates of Fortress Investment Group has acquired ON50 Tampa, a 444-bed student housing community located near the University of South Florida. The property offers a mix of three- and four-bedroom, fully furnished units. Shared amenities include a swimming pool, computer lab, study lounge, movie and entertainment center, hammock garden, community kitchenette, coffee bar and shuttle service to the university’s campus. The community is the joint venture’s fourth acquisition over the past 13 months. The seller and sales price were not disclosed.

June 29, 2022

Acquisitions Industrial Self-Storage Texas

Point Acquisitions Buys 700-Unit Self-Storage Facility in San Antonio

by Taylor Williams June 29, 2022

SAN ANTONIO — Point Acquisitions, an investment firm with offices in South Florida and Philadelphia, has purchased a 700-unit self-storage facility located at 18975 Marbach Lane in San Antonio. The site, which is located just off I-35 on the city’s northeast side, spans 65 acres, including 20 acres for additional expansion. The facility currently spans approximately 362,000 net rentable square feet. The seller and sales price were not disclosed.

June 29, 2022

Acquisitions Massachusetts Multifamily Northeast

CBRE Brokers $35.2M Sale of Apartment Complex in Westwood, Massachusetts

by Taylor Williams June 29, 2022

WESTWOOD, MASS. — CBRE has brokered the $35.2 million sale of Residences at Highland Glen, a 102-unit apartment complex in Westwood, a southwestern suburb of Boston. Constructed in 2006, the age-restricted property comprises two four-story buildings with one- and two-bedroom units, 60 of which were recently renovated. Amenities include a fitness center and a clubroom. Simon Butler, Biria St. John, John McLaughlin, Aron Will and John Sweeny of CBRE represented the locally based seller, National Development, in the transaction. The buyer was Massachusetts-based Claremont Cos.

June 29, 2022

Acquisitions Industrial Midwest Ohio

NAI Pleasant Valley Brokers Sale of 12,559 SF Industrial Building in Twinsburg, Ohio

by Kristin Harlow June 29, 2022

TWINSBURG, OHIO — NAI Pleasant Valley has brokered the sale of a 12,559-square-foot industrial building in Twinsburg, located about halfway between Akron and Cleveland. The sales price was undisclosed. The property is located at 2458 Edison Blvd. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented the undisclosed seller and the buyer, Columbus-based TNT Services, which is a fleet and commercial property power washing company.

June 29, 2022

Acquisitions Multifamily Washington Western

Goodman Real Estate Sells Coventry Court Apartment Property in Tacoma, Washington for $21.1M

by Amy Works June 29, 2022

TACOMA, WASH. — Goodman Real Estate has completed the disposition of Coventry Court IV Apartments, a multifamily community located at 908 76th Street Court East in Tacoma. Jordan Fisher with Next Wave Investors acquired the asset for $21.1 million, or $211,000 per unit. The transaction included the buyer assuming the loan on the property. Built in 1990, Coventry Court IV Apartments features 100 garden-style apartments. Brandon Lewis, Dylan Simon and Jerrid Anderson of The Simon and Anderson Team of Kidder Mathews’ Seattle office represented the seller in the transaction. Kidder Mathews was the only broker involved in the deal. A separate 20-unit property, Coventry Court Annex, recently sold for $3.4 million to the same purchaser. Kidder Mathews also brokered the transaction.

June 29, 2022

Acquisitions Multifamily Seniors Housing Texas

SLIB Brokers Sale of 300-Unit Independent Living Community in Houston

by Taylor Williams June 28, 2022

HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 300-unit independent living community in Houston. The community spans 206,000 square feet across 7.6 acres. The seller was an undisclosed owner-operator that wanted to sell a non-core asset and shift its investment strategy to higher acuity seniors housing assets, including skilled nursing. The buyer was an undisclosed California-based investment firm. Matthew Alley, Vince Viverito, Brad Goodsell and Jason Punzel of SLIB brokered the deal.

June 28, 2022

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