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GW Properties Sells Multi-Tenant Retail Building in Suburban Chicago for $3.9M

by Amy Works August 21, 2020

MT. PROSPECT, ILL. — Chicago-based GW Properties has completed the disposition of a multi-tenant retail property in Mt. Prospect, a suburb of Chicago. Los Angeles-based Davidson & Associates purchased the asset for $3.9 million. Constructed in 1966 and renovated in 2019, the building is fully occupied by three tenants in the medical, restaurant and wireless service industries on net leases. The property is located at 920 E. Elmhurst Road. Alex Sharrin and Alex Geanakos of JLL represented the seller in the deal.

August 21, 2020

Acquisitions California Retail Western

Kidder Mathews Brokers $4.5M Sale of High-Street Retail Building in Los Angeles’ Westwood Village

by Amy Works August 20, 2020

LOS ANGELES — Kidder Mathews has arranged the sale of a high-street retail property located at 10930 Weyburn Ave. in Los Angeles. A local family sold the asset to local real estate investor for $4.5 million. Located in the Westwood Village neighborhood, the asset features a 3,200-square-foot building on a 3,998-square-foot lot. The property offers two retail storefronts with more than 40 feet of frontage on Weyburn Avenue. Darrell Levonian, Tanel Harunzade and Brittney McCarthy of Kidder Mathews represented the seller in the deal.

August 20, 2020

Acquisitions Midwest Missouri Restaurant Retail

Alignment Realty Capital Acquires Four Sonic Drive-in Restaurants in Metro St. Louis

by Amy Works August 20, 2020

ST. LOUIS — Phoenix-based Alignment Realty Capital has purchased four Sonic Drive-In restaurants located in metro St. Louis. The acquisition price for the sale-leaseback transaction was not released. The company acquired the four drive-in restaurants in a double-escrow transaction where a Sonic franchisee purchased the operations and real estate of a like-sized franchisee and simultaneously spun-off the real estate at closing. Banker’s Trust provided Alignment Realty Capital with a five-year, floating-rate acquisition loan.

August 20, 2020

Acquisitions Industrial Midwest Minnesota Net Lease Retail

Upland Real Estate Group Brokers $4.7M Sale of Caliber Collision-Occupied Property in Minnesota

by Amy Works August 20, 2020

COON RAPIDS, MINN. — Upland Real Estate Group has arranged the $4.7 million sale of an investment property net leased to Caliber Collision in Coon Rapids. The names of the seller and buyer were not released. Caliber Collision has operated at this location in the suburbs of Minneapolis for 20 years and recently signed a new 15-year, triple-net lease with rent increases every 5 years. The property’s lease has a corporate guarantee by WAND NEWCO 3, which operates more than 1,100 stores in 37 states and the District of Columbia. Deb Vannelli, Keith Sturm and Amanda Leathers of Upland Real Estate Group represented the seller in the deal.

August 20, 2020

Acquisitions New York Northeast Retail

Marcus & Millichap Brokers Sale of 60,896 SF Retail Asset Leased to ShopRite on Long Island

by Taylor Williams August 20, 2020

UNIONDALE, N.Y. — Marcus & Millichap has brokered the sale of a 60,896-square-foot retail asset in the Long Island city of Uniondale that is net-leased to grocer ShopRite. The sales price was $19.5 million. Barry Wolfe and Glen Kunofsky of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the transaction. Brad Nathanson of Marcus & Millichap’s Institutional Property Advisors (IPA) division in Philadelphia procured the buyer. Michael Helpern and Christopher Marks in Marcus & Millichap Capital Corporation’s (MMCC) Manhattan office arranged acquisition financing for the buyer through a regional bank.

August 20, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 179-Unit Colony Apartments in Irving

by Taylor Williams August 20, 2020

IRVING, TEXAS — Marcus & Millichap has arranged the sale of The Colony, a 179-unit apartment community in Irving. Built in phases in the 1960s, the property offers proximity to multiple schools, as well as the 12,000-acre Las Colinas business and entertainment district. The Colony’s amenities include three pools, a dog park and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Florida-based Capital Vision Management, and procured the buyer, a Dallas-based private investment group.

August 20, 2020

Acquisitions California Office Western

National University System Sells Its Two-Building Headquarters Campus in San Diego

by Amy Works August 19, 2020

SAN DIEGO — National University System, a veteran-founded nonprofit university, has completed the disposition of The Pointe at Torrey Pines, an 11.4-acre office campus in San Diego. An institutional investor acquired the property for an undisclosed price. Located at 11255 and 11355 N. Torrey Pines Road in San Diego’s La Jolla submarket, the existing property features two office buildings totaling 139,135 square feet with views of the Pacific Ocean and Torrey Pines Reserve. The property is currently home to the National University System headquarters. Louay Alsadek, Hunter Rowe and Caitlin Little of CBRE represented the seller, while the buyer was self-represented in the transaction.

August 19, 2020

Acquisitions Colorado Loans Multifamily Seniors Housing Western

CBRE Arranges $14.4M Acquisition Financing for Two Seniors Housing Properties in Metro Denver

by Amy Works August 19, 2020

AURORA AND LAKEWOOD, COLO. — CBRE has arranged $14.4 million in financing for the acquisition of a seniors housing portfolio in Colorado. The borrower is a joint venture between Cadence Living and a private equity firm. The two communities, located in the Denver suburbs of Aurora and Lakewood, total 152 assisted living units and 35 memory care units. The joint venture plans to deploy $4 million for improvements to the two communities, the names of which were not disclosed. Aron Will, Austin Sacco and Matthew Kuronen of CBRE National Senior Housing arranged the four-year bridge loan with 36 months of interest-only payments and a one-year extension option. The lender is a regional bank.

August 19, 2020

Acquisitions California Industrial Western

Vegan Fried Chicken Company Acquires 10,000 SF Warehouse in San Diego

by Amy Works August 19, 2020

SAN DIEGO — Atlas Monroe, a vegan food manufacturer, has purchased an industrial warehouse property located 10 miles south of downtown San Diego. Deborah Torres of Atlas Monroe acquired the asset from Jerrold B Siegel for an undisclosed price. Currently based in the San Francisco Bay area, Atlas Monroe is expanding its footprint to include San Diego with the purchase of the two-story, 10,000-square-foot, freestanding warehouse building near San Diego’s Chula Vista community. The company offers plant-based options for vegetarians and vegans, including applewood-fired ribs, extra crispy fried chick’n, deep fried and stuffed turkey rolls, signature sauces, cakes and more. The new San Diego location will serve as a food manufacturing facility, as well as offer occasional pick-up opportunities for locals. Mark Lewkowitz, Chris Holder and Will Holder of Colliers International represented the buyer and seller in the deal.

August 19, 2020

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Negotiates Sale of 287-Unit Self-Storage Facility in Metro Houston

by Taylor Williams August 19, 2020

CYPRESS, TEXAS — Marcus & Millichap has negotiated the sale of 290 Storage, a 287-unit self-storage facility located on five acres in the northwestern Houston suburb of Cypress. The facility comprises 169 climate-controlled and 118 non-climate-controlled units across 53,015 net rentable square feet. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller in the transaction. Additional terms of sale were not disclosed.

August 19, 2020

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