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Stockton-Supply-Chain-Center-II-Stockton-CA

Dalfen Industrial Acquires Two Properties in Northern California Totaling 157,100 SF

by Amy Works August 31, 2021

LIVERMORE AND STOCKTON, CALIF. — Dalfen Industrial has purchased Las Positas Logistics Center in Livermore and Stockton Supply Chain Center II in Stockton. Terms of the transactions were not released. Las Positas Logistics Center is a 106,700-square-foot, front-load distribution building with close proximity to interstates 580, 80, 680 and 880. Stockton Supply Chain Center II features 50,400 square feet and close proximity to Interstate 5 and Highway 99, which provides same-day access to nearly 45 million people in San Francisco, Sacramento, Los Angeles, San Diego, Portland and Seattle. With these acquisitions, Dalfen Industrial has added three Northern California buildings to its portfolio in the last two months.

August 31, 2021

Acquisitions Florida Retail Southeast

CBRE Arranges Sale of 138,887 SF Valrico Commons Shopping Center in Valrico, Florida

by Julia Sanders August 31, 2021

VALRICO, FLA. — CBRE has arranged the sale of Valrico Commons, a 138,887-square-foot shopping center located at 1971 E State Road 60 in Valrico. Built in 1986 and redeveloped in 2011, Valrico Commons was 93 percent leased at the time of sale to tenants including Publix, Ross Dress for Less and Five Below. Casey Rosen and Dennis Carson of CBRE represented the seller, which includes affiliates of North American Development Group and Primerica Group One. An affiliate of Phillips Edison & Co. was the buyer. The sales price was not disclosed.

August 31, 2021

Acquisitions Florida Industrial Southeast

Easton Group, LBA Logistics Acquire Warehouse Property in South Florida for $19.5M

by Julia Sanders August 31, 2021

DORAL, FLA. — The Easton Group and LBA Logistics have acquired a 105,365-square-foot warehouse in Doral for $19.5 million. Hani Jardack of Jardack Commercial Realty represented the locally based seller, Badia, a manufacturer of spices and herbs. Dalton Easton of Easton & Associates represented the Easton-LBA joint venture in the transaction. Located at 9880 NW 25th St., the warehouse property is equipped with air conditioning throughout, solar panels on the roof, 26-foot clear heights and 192 parking spots. Built in 1998, 12,000 square feet is dedicated to office space. Badia was the previous anchor tenant at the property but vacated the building to go to a new location. Easton will begin marketing the property for a new single-user tenant. This warehouse property is Irvine, Calif.-based LBA’s second joint venture with Doral-based Easton Group in South Florida. The two are also partnering on a ground-up development of a 266,760-square-foot warehouse in Hialeah Gardens, Fla., that is due to be delivered in the second quarter of 2022.

August 31, 2021

Acquisitions Alabama Industrial Self-Storage Southeast

Marcus & Millichap Brokers Sale of 460-Unit Self-Storage Facility in Athens, Alabama

by Julia Sanders August 31, 2021

ATHENS, ALA. — Marcus & Millichap has brokered the sale of a 460-unit self-storage facility located in Athens. The sales price was not disclosed. The storage facility is located approximately 25 miles from Huntsville. The facility features 356 climate-controlled units and 104 non-climate-controlled units. The 60,234-square-foot facility was recently delivered and is not open for public use as of this writing. Gabriel Coe, Brett Hatcher and Eddie Greenhalgh of Marcus & Millichap represented the seller in the transaction, and the buyer was self-represented. Both the buyer and seller requested anonymity.

August 31, 2021

Acquisitions Industrial Texas

Eastgroup Properties Acquires DFW Global Logistics Centre in Grapevine for $89.7M

by Taylor Williams August 31, 2021

GRAPEVINE, TEXAS — Mississippi-based investment firm Eastgroup Properties has acquired DFW Global Logistics Centre, a 611,000-square-foot industrial park located adjacent to Dallas-Fort Worth International Airport in Grapevine, for $89.7 million. The four-building development was fully leased at the time of sale. The deal increases Eastgroup’s total footprint in the metro Dallas market to approximately 4.5 million square feet. The seller was not disclosed.

August 31, 2021

Acquisitions Colorado Multifamily Northmarq Western

NorthMarq Brokers $88.7M Sale of Park 17 Multifamily Community in Denver

by Amy Works August 31, 2021

DENVER — NorthMarq has arranged the sale of Park 17, an apartment property located at 1210 E. 17th Ave. in Denver. Kairoi Residential sold the asset to an undisclosed buyer for $88.7 million. Completed in July 2020, Park 17 features 190 apartments in 34 floor plans ranging from 504 square feet to 1,663 square feet with nine- to 12-foot ceilings, modern technology packages, Moen plumbing fixtures, glass and custom porcelain backsplashes, Nest thermostats, keyless entries, stall showers and side-by-side refrigerators. On-site amenities include a fourth-floor infinity pool overlooking the Denver skyline. Dave Martin and Brian Mooney of NorthMarq’s Denver office represented the seller in the deal. David Link and Jeff DeHarty of NorthMarq’s Denver debt/equity team arranged $45 million in acquisition financing for the borrower through its relationship with a life insurance company. The transaction was structured with a 10 years of interest-only payments.

August 31, 2021

Acquisitions Arizona Loans Multifamily Western

CBRE Arranges $29.4M Acquisition Loan for 208-Unit Apartment Property in Glendale, Arizona

by Amy Works August 31, 2021

GLENDALE, ARIZ. — CBRE has secured a $29.4 million loan for InTrust Property Group to acquire Sunflower and Veranda Apartments in Glendale. Terms of the acquisition were not released. Located at 6015 and 5959 W. Olive Ave., the gated multifamily properties offer a total of 208 units ranging from 450 square feet to 1,150 square feet. Community amenities include three swimming pools, grill and picnic areas and on-site property management. The Newport Beach, Calif.-based buyer plans to upgrade all units to include stainless steel appliances, new cabinetry and quartz countertops. The loan, which was structured with a three-year term and two one-year extensions, will provide funding for the future capital improvements and renovation of the asset. Shaun Moothart, Bob Ybarra, Bruce Francis and Doug Birrell of CBRE arranged the loan for the borrower.

August 31, 2021

Acquisitions Multifamily Texas

Western Wealth Capital Buys 288-Unit Multifamily Property in Arlington

by Taylor Williams August 30, 2021

ARLINGTON, TEXAS — Canadian investment firm Western Wealth Capital has purchased Brookside Apartment Homes, a 288-unit multifamily property in Arlington that was originally built in 1983. According to Apartments.com, Brookside Apartment Homes features one- and two-bedroom units ranging in size from 650 to 990 square feet. Communal amenities include a pool, fitness center, resident clubhouse, business center, pet play area and outdoor picnic and grilling areas. The seller was not disclosed. Following this acquisition, Western Wealth Capital now owns 12 multifamily properties in the Dallas-Fort Worth area and 26 in Texas.

August 30, 2021

Acquisitions Industrial Texas

M2G Ventures Acquires 141,658 SF Industrial Building in Arlington

by Taylor Williams August 30, 2021

ARLINGTON, TEXAS — M2G Ventures, a North Texas-based investment and development firm, has acquired a 141,658-square-foot industrial building located at 3500 Avenue E in Arlington’s Great Southwest submarket. The property sits on 8.6 acres and offers 18-foot clear heights, 148-foot truck court depths and 4,000 square feet of office space. M2G Ventures plans to implement a value-add program that will deliver storefront upgrades, roof repairs, enhanced power, lighting, landscaping and paving, as well as modern paint and exterior updates. The seller was not disclosed.

August 30, 2021

Acquisitions New York Northeast Retail

Vornado Realty Trust to Sell Five Manhattan Retail Properties for $184.5M

by Taylor Williams August 30, 2021

NEW YORK CITY — Vornado Realty Trust (NYSE: VNO) has entered into an agreement with an undisclosed buyer to sell five Manhattan retail properties for $184.5 million. The properties are located at 677–679 Madison Ave., 759–771 Madison Ave., 828–850 Madison Ave., 478-482 Broadway and 155 Spring St. Combined, the properties currently have negative income and a street-level occupancy rate of approximately 30 percent. Vornado is selling the properties in three separate transactions. The sale of the Madison Avenue properties is expected to close in the third quarter, and the sales of the Soho properties are expected to close in the first quarter of 2022.

August 30, 2021

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