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KKR Purchases 197,000 SF Industrial Property in Vista, California from Westcore

by Amy Works December 1, 2021

VISTA, CALIF. — KKR has acquired Vista Commerce, an industrial warehouse facility in Vista, from Westcore for an undisclosed price. Situated on an all-concrete site, the 197,000-square-foot Vista Commerce features 14 dock-high doors, six grade-level doors, 27-foot clear heights and ample power. The property is fully leased to an undisclosed, publicly listed healthcare diagnostic testing company. CBRE represented Westcore in the deal. KKR acquired Vista Commerce through its KKR Real Estate Partners Americas II fund.

December 1, 2021

Acquisitions Indiana Industrial Midwest

Phoenix Investors Purchases 1.7 MSF Manufacturing Plant in Connersville, Indiana

by Kristin Harlow December 1, 2021

CONNVERSVILLE, IND. — An affiliate of Phoenix Investors has purchased a 1.7 million-square-foot manufacturing plant in Connersville, about 65 miles east of Indianapolis. The purchase price and seller were not disclosed. The facility sits on 186 acres at 4747 N. Western Ave. Philco Corp. built the first phase of the property in 1953. In 1961, Ford Motor Co. acquired Philco — a pioneer in battery, radio and television production — and renamed the division Philco-Ford in 1966. Ford expanded the Connersville plant in various phases throughout the 1960s. Ford operated the plant from 1961 until it spun the division off as Visteon Corp. in 2000. Visteon closed the plant in 2007. Since 2013, CliqStudios Cabinets has occupied one-third of the plant, which features a clear height of 30 feet, 50 docks and drive-in doors, two rail sidings. Phoenix plans to make upgrades to the facility.

December 1, 2021

Acquisitions Florida Multifamily Southeast

TerraCap Management Acquires 371-Unit Apartment Complex in Orlando

by Julia Sanders November 30, 2021

ORLANDO, FLA. — TerraCap Management LLC has acquired The Place on Millenia, a 371-unit apartment community in Orlando. Scott Ramey of Newmark represented the undisclosed seller in the disposition. The sales price was also not disclosed. Built in 2007, The Place on Millenia features one-, two- and three-bedroom units. In certain units, features include quartz kitchen and bathroom countertops, new cabinetry and hardware and vinyl plank flooring. TerraCap plans to execute a renovation program to add the features to more of the units. Community amenities include a pool, outdoor kitchen and gas grills, fitness center, clubhouse with a media room and a billiards room. The property also has three interior lakes that provide tenants with water views. Naples, Fla.-based TerraCap is in the process of adding debt financing to the property post-close, and the financing is expected to close within the next few weeks. Matt Williams and Kyle Schlitt of Newmark were retained to help originate the debt. ZRS Management will be the property manager.

November 30, 2021

Acquisitions Industrial Texas

Dalfen Industrial Acquires 169,700 SF Century Center in Irving

by Taylor Williams November 30, 2021

IRVING, TEXAS — Locally based investment and development firm Dalfen Industrial has acquired Century Center, a 169,700-square-foot property located near Dallas-Fort Worth (DFW) International Airport in Irving. Built in 2014, the property was fully leased to three tenants at the time of sale. The seller and sales price were not disclosed. Following this transaction, Dalfen owns more than 3 million square feet of industrial space in DFW and has more than 2 million square feet of product in its development pipeline.

November 30, 2021

HamptonPark-SanMateo-SolanoSprings-Tucson-AZ

Acquisitions Arizona Multifamily Western

Bridge Investment Group Buys Three Multifamily Properties in Tucson for $75.1M

by Amy Works November 30, 2021

TUCSON, ARIZ. — Bridge Investment Group has acquired three multifamily communities in Tucson from Monarch Investment and Management Group for $75.1 million. The portfolio includes the 160-unit Hampton Park, which was built in 1973; the 254-unit San Mateo, which was built in 1987; and the 152-unit Solano Springs, which was built in 1982. Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

November 30, 2021

Acquisitions Healthcare Midwest Minnesota

MedCraft Investment Partners Buys Medical Office Building in St. Paul for $8.6M

by Kristin Harlow November 30, 2021

ST. PAUL, MINN. — MedCraft Investment Partners, which focuses exclusively on healthcare real estate, has acquired a 22,721-square-foot medical office building in St. Paul for $8.6 million. MHealth Fairview’s Midway Clinic, which offers primary and specialty care services, fully occupies the property, which is located at 1390 University Ave. A bookstore formerly occupied the building before it was converted into healthcare use. The seller was not provided.

November 30, 2021

Acquisitions Florida Hospitality Southeast

DSH Hotel Advisors Arranges Sale of 90-Room Days Inn By Wyndham in Clearwater, Florida

by Julia Sanders November 29, 2021

CLEARWATER, FLA. — DSH Hotel Advisors, a Tampa-based hotel brokerage and advisory firm, has arranged the sale of Days Inn By Wyndham, a 90-room hotel in Clearwater. Dennis Hopper and Randy Taylor of DSH represented the seller, an entity known as Mega C Hospitality LLC, and the buyer, an entity known as Prism Development LLC. The sales price was not disclosed. Located at 2940 Gulf to Bay Blvd., the Days Inn is about 13.6 miles from Tampa International Airport and six miles from Clearwater Beach.

November 29, 2021

Acquisitions Industrial Maryland Southeast

Terreno Realty Purchases Industrial Property in Hyattsville, Maryland for $8M

by Julia Sanders November 29, 2021

HYATTSVILLE, MD. — Terreno Realty Corp. has purchased an industrial property in Hyattsville for approximately $8 million. The seller was not disclosed. The industrial property is located on a 2.9-acre land parcel at 5380 Tuxedo Road. The property is situated less than one mile outside of Washington, D.C., and is adjacent to the intersection of U.S. Route 50 and the Baltimore-Washington Parkway. The property is fully leased to two undisclosed tenants. Terreno Realty Corp. is a Bellevue, Wash.-based commercial real estate company that acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.

November 29, 2021

Acquisitions Florida Healthcare Office Southeast

SRS Brokers $2.9M Sale of Single-Tenant Medical Office Property in West Palm Beach

by Julia Sanders November 29, 2021

WEST PALM BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group (NNLG) has brokered the $2.9 million off-market sale of a single-tenant medical office property fully occupied by Heartland Dental in West Palm Beach. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the deal. Richard Dorfman of SRS represented the buyer, a Massachusetts-based private investor. Located at 8961 Okeechobee Blvd., the 3,533-square-foot medical office property is located near a Publix, Mobil gas station and T-Eka Photo electronics store. Built in 2000, the property previously was a Truist Bank property and now is currently being renovated by Heartland Dental, which recently signed a 10-year lease for the property. The asset was acquired by the new ownership during the renovation process and prior to the rent commencement date.

November 29, 2021

Acquisitions Colorado Multifamily Western

Capstone Brokers Sale of Six-Property Multifamily Portfolio in Southwest Denver for $56.5M

by Amy Works November 29, 2021

DENVER — Capstone Apartment Partners has completed the sale of a six-community apartment portfolio located in Southwest Denver. Monarch Investment and Management Group acquired the portfolio from a group of investors connected through Abiete Real Estate for $56.5 million. Totaling 325 apartments, the portfolio includes The Amherst, Federal Terrace, Autumn Ridge, Pinecrest Apartments, Elm Creek Apartments and The Hill Apartments. All six properties are located along South Federal Boulevard and were approximately 96 percent occupied at the time of closing. Jason Koch, Adam Riddle, Sean Holamon and Austin Smith of Capstone represented the seller in the deal.

November 29, 2021

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