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Venture One Acquires 29,898 SF Industrial Building in St. Charles, Illinois, in Sale-Leaseback

by Kristin Harlow September 8, 2021

ST. CHARLES, ILL. — In a sale-leaseback transaction, Venture One Real Estate has acquired a 29,898-square-foot industrial building in St. Charles, about 40 miles west of Chicago. Located on Stern Avenue and constructed in 1988, the property is divided into two units and features two docks, three drive-in doors and parking for 70 cars. John Hamilton of CBRE represented the seller, Enginuity Communications Corp., which will lease back roughly 15,428 square feet. The remaining 14,470 square feet is leased. Venture One acquired the facility through its acquisition fund VK Industrial V LP, which is a partnership between Venture One and Kovitz Investment Group.

September 8, 2021

Acquisitions Arizona Multifamily Western

ABI Multifamily Negotiates $42M Sale of Solano Pointe Apartments in Glendale, Arizona

by Amy Works September 7, 2021

GLENDALE, ARIZ. — ABI Multifamily has arranged the sale of Solano Pointe Apartments, a multifamily community located in Glendale. Tower 16 Capital Partners acquired the property from an undisclosed, Arizona-based seller for $42 million, or $152,174 per unit. Built in 1983, Solano Pointe features 276 apartments in 18 rental buildings on a 10.1-acre site. The unit mix consists of 68 studio units, 168 one-bedroom/one-bath units, 16 two-bedroom/one-bath units and 24 two-bedroom/two-bath units. Individual units feature air conditioning, private patio/balcony in select units, large and/or walk-in closets and all-electric kitchens. Community amenities include three swimming pools, a dedicated leasing office, three laundry facilities, new poolside barbecue grill areas and a children’s playground area. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented the buyer and seller in the deal.

September 7, 2021

Acquisitions Florida Retail Southeast

CBRE Arranges Sale of 60,223 SF University Village Shopping Center in Tampa Bay Area

by Julia Sanders September 7, 2021

ST. PETERSBURG, FLA. — CBRE has arranged the sale of University Village, a 60,223-square-foot shopping center in downtown St. Petersburg. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of Bell Partners Inc., which is based in Greensboro, N.C. Publix Super Markets purchased the shopping center for an undisclosed price. Located at 250 Third St. S. and built in 2003, University Village is anchored by a Publix grocery store. Other tenants include CVS/pharmacy, Bank of America and seven other undisclosed retailers.

September 7, 2021

Acquisitions Office Texas

Partners Capital Sells 104,212 SF Wells Fargo Business Park in Houston

by Taylor Williams September 7, 2021

HOUSTON — Partners Capital, the investment arm of NAI Partners, has sold Wells Fargo Business Park, a 104,212-square-foot flex property in Houston. Partners Capital originally acquired the two-building complex in 2018. Trent Agnew and Charlie Strauss of JLL represented Partners Capital in the transaction. Dallas-based Hillview Capital Partners purchased the asset for an undisclosed price.

September 7, 2021

Acquisitions Illinois Midwest Office

JLL Brokers Sale of Two-Building Office Property in Suburban Chicago

by Kristin Harlow September 7, 2021

NORTHBROOK, ILL. — JLL Capital Markets has brokered the sale of Edens Corporate Center, a two-building office property in the northern Chicago suburb of Northbrook. The sales price was undisclosed. Located on Dundee Road, Edens Corporate Center rises four stories and spans 188,040 rentable square feet. The two buildings were constructed in 1987 and 1988 and renovated from 2016 to 2019. Amenities include heated parking, an outdoor terrace, café, fitness center, yoga room and bike room. Patrick Shields, Sam DiFrancesca, Jaime Fink, Jeff Bramson and Bruce Miller of JLL represented the seller, KBS. Bradford Allen Investment Advisors was the buyer.

September 7, 2021

Acquisitions Multifamily New York Northeast

GAIA Real Estate Acquires Multifamily Portfolio in Manhattan’s East Village for $49.5M

by Taylor Williams September 7, 2021

NEW YORK CITY — New York City-based GAIA Real Estate has acquired a portfolio of three multifamily buildings totaling 71 units in Manhattan’s East Village for $49.5 million. The buildings are located at 50-58 E. Third St. and primarily feature two- and three-bedroom units. The seller was a locally based limited liability company that is affiliated with Anbau Enterprises. The portfolio, which includes about 15 rent-controlled units, was 97 percent occupied at the time of sale. The property traded in an off-market transaction.

September 7, 2021

Acquisitions Florida Retail Southeast

JLL Arranges $35M Sale of Grocery-Anchored Shopping Center in Orlando

by Julia Sanders September 3, 2021

ORLANDO, FLA. — JLL Capital Markets has arranged the $35 million sale of Shoppes at Nona Place, a 60,557-square-foot neighborhood shopping center in Orlando. Built in 2018 and 2019, Shoppes at Nona Place is anchored by Bravo Supermarkets, a Hispanic grocer, as well as Pet Supermarket, First Watch, Heartland Dental, BurgerFi, Aveda, Lime Fresh, F45 and Pig Tails. Located on 14.6 acres at 13000 Narcoossee Road, the center is situated about 11.2 miles from Orlando International Airport and approximately 23.4 miles from Walt Disney World Resort. The property is located within Lake Nona, a medical city market in southeast Orlando. Brad Peterson, Whitaker Leonhardt, Michael Brewster and Tommy Isola of JLL represented the seller, a joint venture between North American Development Group and Blackfin Partners Investments. Edward Romanov of Transitional Finance Partners LLC represented the buyer, a private investor group affiliated with Flocchini/Van Wagner Families.

September 3, 2021

Acquisitions Louisiana Mixed-Use Retail Southeast

Cooper Commercial Brokers $17.2M Sale of Bluebonnet Parc Mixed-Use Center in Baton Rouge

by Julia Sanders September 3, 2021

BATON ROUGE, LA. — Cooper Commercial Investment Group has brokered the sale of Bluebonnet Parc, a four-building mixed-use center in Baton Rouge. Dan Cooper of Cooper Commercial Investment Group represented the seller, Viking Partners Bluebonnet LLC. Brannon 230 LLC purchased the property for $17.2 million. Located at 5915 Bluebonnet Blvd., Bluebonnet Parc is located close to Interstate 10 and is about 9.8 miles from downtown Baton Rouge. Additionally, the property is about 7.7 miles from Louisiana State University. The 135,367-square-foot property is anchored by Best Buy, buybuy Baby and Havertys, with other tenants including Men’s Wearhouse, David’s Bridal and Richport Technical College.

September 3, 2021

Acquisitions Industrial Nevada Western

Nicola Wealth Acquires 175,818 SF Ampac Industrial Park in Henderson, Nevada

by Amy Works September 3, 2021

HENDERSON, NEV. — Nicola Wealth Real Estate has purchased Ampac Industrial Park I and II in Henderson. Terms of the transaction were not released. The asset comprises seven small- to medium-bay modern industrial buildings totaling 175,818 square feet on 17 acres, inclusive of four acres of surplus land currently utilized as yard storage. The portfolio is located 12 miles southeast of Las Vegas, featuring close proximity to interstates 215 and 515. Rebecca Perlmutter Finkel of CBRE led the team that handled the deal.

September 3, 2021

Acquisitions California Net Lease Restaurant Retail Western

SRS Brokers $5.5M Ground-Lease Sale of Raising Cane’s-Occupied Property in Barstow, California

by Amy Works September 3, 2021

BARSTOW, CALIF. — SRS Real Estate Partners’ National Net Lease Group (NNLG) has arranged the $5.5 million ground-lease sale of a retail building located at 2620 Fisher Blvd. in Barstow. Starboard Realty Advisors sold the asset to a Los Angeles-based private investor. Raising Cane’s Chicken Fingers occupies the property, which is situated on 1.25 acres and features a double drive thru. The building was constructed in 2020 and the restaurant opened for business in May 2021. The asset has a 15-year, corporate-guaranteed ground lease in place, providing the buyer with a stabilized investment and no landlord responsibilities. Matthew Mousavi and Patrick Luther of SRS NNLG represented the seller, while Pablo Rodriguez of Newmark represented the buyer in the deal.

September 3, 2021

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