sale2

Cushman & Wakefield Arranges $5.2M Sale of Shoppes at Cortaro Ranch in Tucson

by Amy Works January 21, 2021

TUCSON, ARIZ. — Cushman & Wakefield has negotiated the sale of Shoppes at Cortaro Ranch, a newly constructed retail property located at 5660 W. Cortaro Farms Road in Tucson. Colorado-based Sonoma Heights acquired the asset from Terry Haute, Indiana-based Cortaro Commercial JV LLC for $5.2 million. Built this year, Shoppes at Cortora Ranch features 10,617 square feet of retail space. At the time of sale, the property was fully leased. Chris Hollenbeck of Cushman & Wakefield’s Phoenix office represented the seller in the transaction.

January 21, 2021

Acquisitions Connecticut Multifamily Northeast

Chozick Realty Negotiates Sale of 139-Unit Apartment Building in Hartford

by Taylor Williams January 21, 2021

HARTFORD, PA. — Locally based brokerage firm Chozick Realty has negotiated the $9.6 million sale of Lafayette Arms Apartments, a 139-unit multifamily building in Hartford. Built in 1968, the four-story building predominantly features one-bedroom units. Tom Boyle of Chozick Realty marketed the property on behalf of the seller, Lafayette Arms LLC, and procured the buyer, a regional investment firm.

January 21, 2021

Acquisitions Florida Retail Southeast

JLL Negotiates $9.1M Sale of Grocery-Anchored Shopping Center in Orlando

by Alex Tostado January 20, 2021

ORLANDO, FLA. — JLL has negotiated the $9.1 million sale of Southgate Shopping Center, a 144,052-square-foot retail property in Orlando. Aldi anchors the center, which was 92 percent leased at the time of sale to tenants including AutoZone, dd’s Discount’s, Aaron’s and Value Pawn. Additionally, the property can be expanded with the addition of a 6,000-square-foot pad site and drive-thru ATM development opportunity. The asset spans 17 acres and is located at 4649 S. Orange Blossom Trail, four miles south of downtown Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, Marx Realty, in the transaction. An undisclosed Texas-based real estate company purchased the property.

January 20, 2021

Acquisitions Arkansas Industrial Self-Storage Southeast

Goldman Investment Advisors Brokers $4.1M Sale of Self-Storage Property Near Memphis

by Alex Tostado January 20, 2021

WYNNE, ARK. — Goldman Investment Advisors has brokered the $4.1 million sale of Handy Rentals, a 96,455-square-foot self-storage property in Wynne. The property spans nine acres and is located at 1306 S. Falls Blvd., 49 miles west of downtown Memphis. Milwaukee-based Bank Five Nine provided acquisition financing to the buyer, Wynne Properties Group. Larry Goldman of Goldman Investment Advisors represented the undisclosed seller in the transaction. Goldman Investment Advisors is an affiliate of Denver-based Argus Self Storage Advisors.

January 20, 2021

Acquisitions Midwest Missouri Office Retail

Rubenstein Real Estate Acquires 20,000 SF Office, Retail Building in Kansas City

by Kristin Harlow January 20, 2021

KANSAS CITY, MO. — An affiliate of Rubenstein Real Estate, together with an affiliate of Exact Architects, has acquired a 20,000-square-foot office and retail building located at the corner of Linwood and Main streets in Kansas City. At the time of sale, the building was 25 percent occupied. A new tenant will soon lease a portion of the first floor, leaving 9,418 square feet remaining available for lease. Substantial building and common area renovations are underway. The two-story building features almost 80 parking spaces. Dwight Medbery III of Rubenstein led the buyer investment group. The purchase price and seller were undisclosed.

January 20, 2021

Acquisitions Arizona Industrial Western

KKR Buys 263,606 SF Distribution Facility in Goodyear, Arizona

by Amy Works January 20, 2021

GOODYEAR, ARIZ. — KKR has purchased a newly constructed 263,606-square-foot industrial distribution and warehouse property in Goodyear for $43.1 million. Principals of Minneapolis-based Provident Real Estate Ventures, along with Merit Partners and Sunbelt Holdings, sold the 263,606-square-foot facility. Situated on more than 15 acres, the property features three points of ingress and egress, a fully air-conditioned warehouse, 36-foot clear heights, ample loading with 100 percent truck courts and dedicated truck lanes, an ESFR sprinkler system and automatic truck court gates. One of the world’s leading manufacturers of large commercial vehicles fully occupies the property, which is located at 17017 W. Indian School Road. Will Strong, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal.

January 20, 2021

Acquisitions Iowa Midwest Multifamily

Marcus & Millichap Brokers $5.5M Sale of Manufactured Housing Community in Iowa

by Kristin Harlow January 20, 2021

STORM LAKE, IOWA — Marcus & Millichap has brokered the $5.5 million sale of Vista Estates in Storm Lake. The 127-space manufactured housing community in western Iowa sits on 14.3 acres at 811 Vestal St. Of the community’s homes, 112 are tenant-owned. Andrean Angelov and Ryan Engle of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The duo, along with Brad Kreppel, secured and represented the buyer, an out-of-state private investor.

January 20, 2021

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 524-Unit Self-Storage Facility in Fresno, Texas

by Taylor Williams January 20, 2021

FRESNO, TEXAS — Marcus & Millichap has arranged the sale of Cajun Self Storage, a 524-unit facility in Fresno, located south of Houston. Built in 2005 and expanded in 2015, the facility spans 104,823 net rentable square feet across both climate- and non-climate-controlled units. Brian Kelly, Brett Hatcher, Gabriel Coe and Jack Newman of Marcus & Millichap represented the seller in the transaction. Kelly, Hatcher and Coe also procured the buyer. Both parties were limited liability companies that requested anonymity. Tim Speck, division manager and broker of record, assisted in closing this transaction.

January 20, 2021

Acquisitions Industrial Southeast Tennessee

LRC Properties Acquires Industrial Facility in Memphis for $23M

by Alex Tostado January 19, 2021

MEMPHIS, TENN. — LRC Properties has acquired a 640,000-square-foot industrial facility in Memphis for $23 million. The asset is situated at 4926 Southridge Blvd., 11 miles east of Memphis International Airport. Technicolor occupies the building on a lease that expires in 2023. The seller was not disclosed. Brian Califf of NAI Saig Co. represented the buyer in the transaction. Ready Capital closed an $18.9 million acquisition loan on behalf of the Rye Brook, N.Y.-based buyer. The non-recourse loan features interest-only payments for the duration of the four-year term, a floating interest rate, one extension option and flexible prepayment options.

January 19, 2021

Acquisitions Massachusetts Multifamily Northeast

Standard Communities Buys 97-Unit Mixed-Income Community in Methuen, Massachusetts

by Taylor Williams January 19, 2021

METHUEN, MASS. — Standard Communities, the affordable housing division of Los Angeles- and New York-based Standard Cos., has acquired Mills Falls Apartments, a 97-unit mixed-income community in the northern Massachusetts city of Methuen. The building was originally constructed in 1826 as part of the Methuen Cotton Mills facility and converted to a residential use in 2001. Communal amenities include a lobby, community rooms, a fitness center and laundry rooms, each of which will receive upgrades. Standard’s acquisition was completed in partnership with the Massachusetts Housing and Finance Agency (MassHousing), the Department of Housing and Community Development (DHCD) and the Methuen Housing Authority.

January 19, 2021

Newer Posts

Older Posts

Upcoming Events

Aug
18