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TSCG Brokers Sale of Grocery-Anchored Shopping Center in Southeast Orlando

by John Nelson September 14, 2020

ORLANDO, FLA. — TSCG has arranged the sale of The Shoppes at South Semoran, a 101,611-square-foot shopping center in Orlando. The property was originally built in 1986 and renovated in 2013, when anchor Walmart Neighborhood Market opened. At the time of sale, the property was 97 percent leased to tenants including Walmart, Chase Bank, Dollar Tree and Wendy’s. The asset is situated at 4520 S. Semoran Blvd., seven miles southeast of downtown Orlando. Anthony Blanco, Lenard Williams, Mallory Silva and Gavin Walsh of TSCG represented the seller, an affiliate of Weingarten Realty, in the transaction. An affiliate of Core Investment Management acquired the property for an undisclosed price.

September 14, 2020

Acquisitions Hospitality Iowa Midwest

Marcus & Millichap Brokers $1.6M Sale of Howard Johnson Hotel in Iowa

by Kristin Harlow September 11, 2020

BURLINGTON, IOWA — Marcus & Millichap has brokered the $1.6 million sale of a Howard Johnson hotel in Southeast Iowa’s Burlington. The 96-room property is located at 2759 Mt. Pleasant St. near the Catfish Bend Casino and Burlington Regional Airport. Ebrahim Valliani, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a limited liability company. The buyer information was undisclosed.

September 11, 2020

Acquisitions Industrial Self-Storage Utah Western

Towne Storage Sells 379-Unit Towne Storage Sandy Near Salt Lake City

by Amy Works September 11, 2020

SANDY, UTAH — Towne Storage has completed the disposition of Towne Storage Sandy, a self-storage facility located off Interstate 15 in Sandy, approximately 20 minutes south of downtown Salt Lake City. Terms of the transaction were not released. Storage…Etc. will rebrand and manage the 60,700-square-foot facility. Built in 1993 and 1997, the property features 379 rentable spaces ranging from 25 square feet to 400 square feet, a leasing office, gated access, digital video surveillance and an on-site manager. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

September 11, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 1,835-Unit Self-Storage Portfolio in East Texas

by Taylor Williams September 10, 2020

TYLER AND LONGVIEW, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of four self-storage properties totaling 1,835 units across 20.8 acres in East Texas. Two of the properties are located in Tyler, and two are located in Longview, cities that are about 100 and 120 miles east of Dallas, respectively. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. The buyer was Colorado-based Spartan Investment Group.

September 10, 2020

Acquisitions California Retail Western

Credit Union Acquires 2,480 SF Retail Building in Ventura, California

by Amy Works September 10, 2020

VENTURA, CALIF. — County Schools Federal Credit Union (CSFCU) has purchased a retail property located at 3954 E. Main St. in Ventura. Terms of the off-market transaction were not released. CSFCU plans to renovate the site, which includes a 2,480-square-foot retail building, to serve as the company’s new headquarters, including a customer banking area, conference room and office space. The credit union is downsizing from its nearby 9,600-square-foot headquarters. Hayden Eaves, Kristen Sullivan and Matthew Spear of Avison Young represented the buyer, while Dustin Dammeyer of Dammeyer & Associates represented the seller, a Texas-based private investor, in the transaction.

September 10, 2020

Acquisitions Industrial New Jersey Northeast

Camber Real Estate Acquires 88,220 SF Industrial Facility in East Hanover, New Jersey

by Taylor Williams September 10, 2020

EAST HANOVER, N.J. — Camber Real Estate Partners has acquired an 88,220-square-foot industrial facility situated on a 6.3-acre site at 601 Murray Road in East Hanover, about 30 miles west of New York City. The property features 24-foot clear heights, seven loading positions and a small office finish. Gary Gabriel and Kyle Schmidt of Cushman & Wakefield brokered the deal. Camber has since negotiated a lease renewal with the property’s largest tenant.

September 10, 2020

Acquisitions Midwest Ohio Retail

Cooper Group Brokers $2.3M Sale of Credit Union Ground Lease in Suburban Columbus

by Kristin Harlow September 9, 2020

REYNOLDSBURG, OHIO — Cooper Commercial Investment Group has brokered the $2.3 million sale of a Wright-Patt Credit Union ground lease in Reynoldsburg, a suburb of Columbus. The building was still being constructed at the time of closing. Bob Havasi and Dan Cooper of Cooper Group represented the seller, an Ohio-based private developer. A New York-based private investor was the buyer. The cap rate was 5.5 percent.

September 9, 2020

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of Three Self-Storage Facilities Totaling 1,807 Units in Austin

by Taylor Williams September 9, 2020

AUSTIN, TEXAS — Bellomy & Co. has arranged the sale of three self-storage facilities totaling 1,807 units in Austin. Owner-operator Storage Star acquired the properties, which span 200,639 net rentable square feet and will be rebranded Storage Star-Mopac, Storage Star-Pond Springs and Storage Star-Ben White. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the undisclosed sellers in the transaction. The new ownership will invest in capital improvements to boost curb appeal and repair deferred maintenance items.

September 9, 2020

Acquisitions Hospitality Washington Western

Crystal Investment Property Brokers Sale of Quality Inn & Suites in Toppenish, Washington

by Amy Works September 9, 2020

TOPPENISH, WASH. — Crystal Investment Property (CIP) has arranged the sale of the Quality Inn & Suites in Toppenish. Terms of the transaction were not released. The hotel features 44 guest rooms with interior corridors and room entrances in a mix of accessible rooms, suites, kitchenettes and family rooms. On-site amenities include a breakfast area, exercise room, guest laundry, truck/bus/RV parking and a business center. Additionally, the property offers excess land for potential development of hotel amenities and/or expansion. CIP represented the undisclosed seller in the sale. The name of the buyer was also not disclosed.

September 9, 2020

Acquisitions Massachusetts Multifamily Northeast

Marcus & Millichap Brokers Sale of 34-Unit Apartment Building in Metro Boston for $6.9M

by Taylor Williams September 8, 2020

QUINCY, MASS. — Marcus & Millichap has brokered the sale of a 34-unit apartment building located at 40 Butler Road in the southern Boston suburb of Quincy for $6.9 million. The property consists of 30 one-bedroom units and four two-bedroom residences and is located within walking distance of the Quincy Center MBTA station. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity

September 8, 2020

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