REBusinessOnline

Stos Partners Buys Parking Site Near Port of San Diego for $26.5M

SAN DIEGO — Stos Partners, in conjunction with an institutional partner, has purchased a 5.8-acre parking lot land site near the Port of San Diego. A private entity sold the property for $26.5 million. Situated under the Coronado Bridge at 2210-2310 Main St. in San Diego, the parking lot is currently 100 percent leased to a defense contractor. With this transaction, Stos has completed nine acquisitions this year totaling $81.5 million and sold four assets totaling $48.4 million, …

RealOp Investments Purchases Office Building in Atlanta’s Cumberland-Galleria Area for $19.7M

ATLANTA — RealOp Investments has purchased Parkwood Plaza, a 216,600-square-foot office building in Atlanta’s Cumberland/Galleria submarket, for $19.7 million. The five-story building was delivered in 1989. RealOp plans to immediately invest $4 million to add a new lounge and café, new conference and training facilities, new fitness center, modernized restrooms, lobby updates, and upgrades to the elevators and outdoor patio. The property is located at 1300 Parkwood Cirlce SE, one mile from …

Stone Harbour Capital Acquires 162,000 SF Office Building in Milford, Connecticut

MILFORD, CONN. — Connecticut-based private equity firm Stone Harbour Capital has acquired a 162,000-square-foot office building in the coastal Connecticut city of Milford. Built on 12 acres in 1988, the four-story property was formerly known as Merritt Crossing. Stone Harbour will rebrand the building as Great River Corporate Center and introduce a value-add program that will deliver an upgraded café, coffee bar, fitness center, coworking spaces and conference center, as well as dining and …

NAI Partners Arranges Sale of 409,685 SF Distribution Center in Schertz, Texas

SCHERTZ, TEXAS — NAI Partners has arranged the sale of a 409,685-square-foot distribution center located at 1150 Schwab Road along the Interstate 35 corridor in the Central Texas city of Schertz. According to LoopNet Inc., the site was developed in 2008, includes 78,500 square feet of office space and houses additional land for future expansion. Carlos Marquez of NAI Partners represented the undisclosed seller in the transaction. The buyer was HPI Real Estate Services & Investments, which …

Jameson Commercial Brokers $21.9M Sale of Retail Portfolio in Chicago

CHICAGO — Jameson Commercial has brokered the sale of a retail portfolio in Chicago’s South Loop for $21.9 million. The portfolio includes a single-tenant Chick-fil-A, a 7-Eleven gas station and an 8,000-square-foot retail building anchored by Aspen Dental. Mark Kishtow of Jameson represented the seller, GW Properties, as well as the buyer, Park 1

Exeter Property Group Acquires 193,000 SF Industrial Building in Lombard, Illinois

LOMBARD, ILL. — Exeter Property Group has acquired a 193,000-square-foot industrial building located at 100 Progress Road in Lombard for an undisclosed price. The property is situated at the intersection of I-355 and North Avenue in the Central DuPage County submarket. The building offers clear heights ranging from 24 to 29 feet and is fully leased to Orora Packaging. David Bercu of Colliers International brokered the sale. A private investor sold the

Avison Young Brokers $7M Sale of Two Retail Properties in Metro Boston

NEEDHAM AND NEWTON, MASS. — Avison Young Commercial Real Estate has brokered the $7 million sale of two retail properties in Needham and Newton, two western suburbs of Boston. The property in Needham, a 15,609-square-foot retail center located at 238 Highland Ave., is leased to Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa. The property in Newton, a 3,588-square-foot building located at 106 Needham St., is leased to fitness equipment distributor Gym Source. …

PS Business Parks Acquires Two Industrial/Flex Assets in California for $30.3M

SANTA CLARA AND LA MIRADA, CALIF. — PS Business Parks (PSB) has completed the acquisition of two business parks in California for a total consideration of $30.3 million. The purchases will qualify as 1031 exchanges for tax purposes. On Dec. 20, 2019, PSB purchased San Tomas Business Center in Santa Clara for $16.6 million. Totaling 79,400 square feet, the park features nine buildings offering suites ranging from 200 square feet to 3,500 square feet. At the time of closing, the property was …

Cushman & Wakefield Brokers $169M Multifamily Portfolio Sale in Georgia, South Carolina

ATLANTA — Cushman & Wakefield’s Multifamily Advisory Group has brokered the $169 million sale of an eight-property multifamily portfolio totaling 1,544 units in Georgia and South Carolina. The portfolio comprises two properties in each Macon, Augusta and Warner Robbins, Ga.; and two properties in Aiken, S.C. The average age of the portfolio is 30 years old and was 94 percent occupied at the time of sale. Capital Square 1031, a national real estate firm specializing in tax-advantaged …

Progress Realty Acquires Shopping Center in Fayetteville, North Carolina for $36M

FAYETTEVILLE, N.C. — Progress Realty Partners has acquired Marketfair Shopping Center, a 219,000-square-foot retail property in Fayetteville, for $36 million. The property recently underwent a complete redevelopment and remerchandising, highlighted by the mid-December grand opening of Lidl. The German grocer joins other national tenants such as Planet Fitness, Gander Outdoors and AMC Theatres. Marketfair Shopping Center is located at 1916 Skibo Road, six miles west of downtown Fayetteville. …

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