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Cushman & Wakefield | Thalhimer Arranges $13M Sale of Gold’s Gym Plaza in Richmond

by Julia Sanders April 6, 2022

RICHMOND, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the sale of Gold’s Gym Plaza in Richmond. An entity doing business as Seminole Trail Annex LLC acquired the property for $13 million. Catharine Spangler of Cushman & Wakefield | Thalhimer represented the sellers, West Tower LLC and SugarOak Investments, in the transaction. Located at 8900 West Broad St., the property spans 124,275 square feet across five buildings. The center is currently fully leased and co-anchored by Gold’s Gym and Regal Cinemas, which have occupied space at the property for 40 and 19 years, respectively. The 44,000-square-foot box anchored by Regal Cinemas and an adjacent parking lot are subject to a ground lease.

April 6, 2022

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Brokers Acquisition of Three Industrial Buildings in North Hollywood Totaling $21.4M

by Amy Works April 6, 2022

LOS ANGELES — Lee & Associates LA North/Ventura has arranged the purchases of three multi-tenant industrial properties located in the North Hollywood neighborhood of Los Angeles in two separate deals for the combined total of $21.4 million. Together the properties total 66,019 square feet. In the first transaction, Vineland Group Holdings sold a two-building asset at 6850 Vineland Ave. to LaTerra Development II LLC. Scott Caswell and Eric Balin of Lee & Associates LA North/Ventura represented the buyer. In the second deal, 625 South Pacific Avenue LLC acquired an industrial building at 13401-13431 Saticoy St. from Pine Investment Partners. Caswell and Balin represented the buyer, while Greg Barsamian of CBRE represented the seller in the deal.

April 6, 2022

Acquisitions Florida Multifamily Southeast

Waterton Acquires 216-Unit Apartment Community in Boynton Beach, Florida

by Julia Sanders April 6, 2022

BOYNTON BEACH, FLA. — Chicago-based Waterton has acquired Verona at Boynton Beach, a 216-unit apartment community in Boynton Beach. The seller and sales price were not disclosed. Built in 2002, Verona at Boynton Beach offers 72 one-bedrooms, 108 two-bedrooms and 36 three-bedroom floorplans. The units average 1,097 square feet in size. Unit features include nine-foot ceilings, upgraded finishes and full-size washers and dryers in every unit. Community amenities include a clubhouse, business center, fitness center, dog park, pet wash station, playground, pool, package center, barbecue and picnic areas. The new owner plans to complete renovations on the property, including enhancements to the amenity package and refreshed residence finishes. Located at 1575 SW 8th St. on 14.2 acres, the property is 6.5 miles from Delray Beach and 11.2 miles from Boca Raton Airport.

April 6, 2022

Acquisitions California Office Western

Parkview Financial Acquires Office Building in West Los Angeles for $19M

by Amy Works April 5, 2022

LOS ANGELES — Parkview Financial has purchased a multi-tenant office building located at 11440 San Vicente Blvd. in West Los Angeles’ Brentwood neighborhood. Westwood Financial, which owned the property since 1989 and currently occupies the first floor, sold the asset for $19 million. Parkview Financial plans to occupy the three-story, 24,317-square-foot property as its new headquarters. The company will implement a $2 million renovation of the asset’s common areas, as well as building out the entire 8,000-square-foot second floor, with plans to move in by late 2022. Built in 1972, the building features various floorplate layouts with walkability to amenities, including restaurants and retail stores. Additionally, the property features 49 parking spaces and overlooks Veterans’ Park on Wilshire Boulevard. Tom Sexton and Michael Arnold of NAI Capital represented the buyer, while Daniel Rainer, Matt McRoskey and Andrew Harper of JLL represented the seller in the transaction.

April 5, 2022

Acquisitions Multifamily Texas

S2 Capital Acquires 266-Unit Residences at Preston Park Apartments in Plano

by Taylor Williams April 5, 2022

PLANO, TEXAS — Locally based investment firm S2 Capital has acquired Residences at Preston Park, a 266-unit apartment community in the northern Dallas suburb of Plano. Built on 15 acres in 1995, the garden-style property features one- and two-bedroom units with an average size of 1,114 square feet. Brian O’Boyle of Newmark represented the undisclosed seller in the transaction. Henry Stimler, Bill Weber and Ari Schwartzbard, also with Newmark, arranged acquisition financing on behalf of S2 Capital, which plans to implement a value-add program.

April 5, 2022

Acquisitions Georgia Retail Southeast

JLL Arranges Sale of 69,396 SF Abercorn Walk Shopping Center in Savannah

by Julia Sanders April 5, 2022

SAVANNAH, GA. — JLL Capital Markets has arranged the sale of Abercorn Walk, a 69,396-square-foot retail center in Savannah. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL marketed the property on behalf of the seller. Chattanooga-based GBT Realty Corp. purchased the property for an undisclosed price. Abercorn Walk is anchored by The Fresh Market. Other tenants at the property include Ethan Allen, Soma Intimates, White House Black Market, Chico’s, Nadeau, Jos. A. Bank, J. Jill, Talbots, StretchLab and Cycle Bar. Located at 5525 Abercorn St., the property is situated 20 miles from Tybee Island and 14.5 miles from the Savannah/Hilton Head International Airport.

April 5, 2022

Acquisitions North Carolina Office Southeast

Montecito Medical Purchases 14,720 SF Medical Office Building in Metro Charlotte

by Julia Sanders April 5, 2022

CONCORD, N.C. — Nashville-based Montecito Medical Real Estate has purchased a 14,720-square-foot medical office building in Concord. The seller and sales price were not disclosed. The medical office building is fully occupied under a long-term lease by Northeast Digestive Health Center. Northeast Digestive Health has served Cabarrus County and surrounding communities for 40 years. The practice provides a range of consultative, diagnostic, treatment and procedural services for patients across the area. The property is situated just off Interstate 85, approximately 25 miles northeast of downtown Charlotte.

April 5, 2022

Acquisitions Hospitality Mississippi Southeast

CBRE Brokers Sale of Chancellor’s House Hotel in Oxford, Mississippi

by Julia Sanders April 5, 2022

OXFORD, MISS. — CBRE has arranged the sale of The Chancellor’s House, a 38-room boutique hotel in Oxford, to Nashville-based BNA Associates LLC. Natalie Castillo, Austin LaPoten and John Lamberson Jr. of CBRE represented the seller, an entity doing business as Chancellor House LLC. Built in 2017, The Chancellor’s House hotel offers two full-service restaurants, a lounge with an outdoor patio, rooftop and more than 2,800 square feet of meeting space. Located at 425 South Lamar Blvd., the property is situated less than one mile from the University of Mississippi and is just south of The University-Oxford Airport.

April 5, 2022

Acquisitions Multifamily New Hampshire Northeast

CBRE Brokers $121.5M Sale of Countryside Village Apartments in Manchester, New Hampshire

by Taylor Williams April 5, 2022

MANCHESTER, N.H. — CBRE has brokered the $121.5 million sale of Countryside Village, a 448-unit apartment community located near the Massachusetts-New Hampshire border in Manchester. The sales price equates to approximately $271,000 per unit. Built in phases between 1986 and 1987, the property comprises 17 three- and four-story residential buildings and a 7,000-square-foot clubhouse. Units come in one-, two- and three-bedroom floor plans, and 20 percent of the residences were recently renovated. According to Apartments.com, amenities include a pool, fitness center, playground, basketball court, grilling stations and onsite laundry facilities. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an affiliate of Pennsylvania-based Merion Realty Partners, in the transaction. The trio also procured the buyer, an affiliate of Boston-based DSF Group.

April 5, 2022

Acquisitions Office Texas

Rubenstein Partners Acquires 250,000 SF Office Building in Plano, Plans Renovation

by Taylor Williams April 4, 2022

PLANO, TEXAS — Philadelphia-based investment firm Rubenstein Partners has acquired a 250,000-square-foot office building located at 5600 Headquarters Drive in the northern Dallas suburb of Plano. Rubenstein plans to upgrade the lobby and the amenity spaces, including the new fitness center, tenant lounge, conference center and dining areas. Vicki Keenan, Adam Subber, Dan Sullivan, David Stringfield and Brant Bryan of Cresa represented the undisclosed seller in the transaction. Lincoln Property Co. will lease the building following completion of the renovation.

April 4, 2022

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