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SRS Brokers $9.2M Sale of VCA Animal Hospital-Occupied Property in Fountain Valley, California

by Amy Works July 15, 2020

FOUNTAIN VALLEY, CALIF. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a single-tenant retail property located at 183 Euclid St. in Fountain Valley. An Orange County, Calif.-based family trust acquired sold the asset to a Southern California-based private investor for $9.2 million. VCA Animal Hospital occupies the 23,800-square-foot building and recently extended its lease for an additional 10 years at the property. Built in 1969, the building underwent a $6 million renovation in 2017 sponsored by the tenant. Matthew Mousavi, Patrick Luther and Rich Walter of SRS represented the seller and buyer in the deal.

July 15, 2020

Acquisitions Illinois Industrial Midwest

Premier Commercial Realty Brokers Sale of 45,000 SF Industrial Building in Huntley, Illinois

by Kristin Harlow July 15, 2020

HUNTLEY, ILL. — Premier Commercial Realty has brokered the sale of a 45,000-square-foot industrial building located at 11253-11299 Kiley Drive in Huntley, about 50 miles northwest of Chicago. The sales price was undisclosed. The multi-tenant building was fully leased at the time of sale. Bruce Kaplan and Kevin Kaplan of Premier brokered the transaction. A private investor purchased the asset from Blackhawk Huntley LP.

July 15, 2020

Acquisitions Florida Industrial Leasing Activity Southeast

Commercial Partners Realty Negotiates Sale-Leaseback of 94,000 SF Industrial Property in Metro Tampa

by Alex Tostado July 14, 2020

PINELLAS PARK, FLA. — Commercial Partners Realty has negotiated the sale-leaseback of a 94,000-square-foot industrial building in Pinellas Park. Woodhill Real Estate LLC acquired the asset for $6 million. The seller and tenant, Nautical Structures, specializes in manufacturing, designing, distributing and engineering yachting equipment. The property spans five acres and is situated at 7301 114th Ave., 20 miles west of downtown Tampa. Scott Clendening of Commercial Partners Realty represented the seller in the transaction.

July 14, 2020

Acquisitions Retail Texas

Marcus & Millichap Arranges Sale of 14,218 SF Retail Center in Roanoke, Texas

by Taylor Williams July 14, 2020

ROANOKE, TEXAS — Marcus & Millichap has arranged the sale of Roanoke Corners, a 14,218-square-foot retail center in Roanoke, located north of Fort Worth. The property was fully leased at the time of sale to tenants such as AT&T, Donut Paradise and Cinch Cleaners. Philip Levy of Marcus & Millichap represented the seller, a partnership, in the transaction. Levy also procured the buyer, a private investor. Both parties requested anonymity.

July 14, 2020

Acquisitions Industrial Massachusetts Northeast

Investcorp Sells 1.8 MSF Industrial Portfolio in Boston, Chicago for $200M

by Taylor Williams July 14, 2020

BOSTON AND CHICAGO — Investcorp, a global private equity firm based in Bahrain, has sold a 1.8 million-square-foot portfolio of industrial buildings located in the Boston and Chicago areas for $200 million. The Boston component of the portfolio includes a warehouse, distribution center and flex building totaling roughly 1.1 million square feet. The Chicago component features three cold storage properties totaling approximately 700,000 square feet. Investcorp initially acquired the portfolio, which was 98 percent leased at the time of sale, in 2017. The buyer was not disclosed.

July 14, 2020

Acquisitions Illinois Midwest Office

Marcus & Millichap Brokers $3.4M Sale of Government-Occupied Office Building in Chicago

by Kristin Harlow July 14, 2020

CHICAGO — Marcus & Millichap has brokered the sale of a 38,747-square-foot office property occupied by the Illinois Department of Human Services in Chicago for $3.4 million. The single-tenant building is located at 1642 W. 59th St. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a fund manager. A Chicago-based private investor purchased the asset. The Illinois Department of Human Services is one of the state’s largest agencies with more than 13,000 employees.

July 14, 2020

Acquisitions California Industrial Western

Terreno Realty Purchases Industrial Property in South San Francisco for $6.3M

by Amy Works July 14, 2020

SOUTH SAN FRANCISCO, CALIF. — Terreno Realty has acquired an industrial building located in South San Francisco for $6.3 million. The name of the seller was not released. Located at 179 Starlite St., the 22,000-square-foot property features two dock-high and one grade-level loading positions and parking for 15 cars. At the time of sale, the building was fully leased to one tenant.

July 14, 2020

Acquisitions Industrial Texas

Stream Realty Partners Brokers Sale of 53,586 SF Industrial Building in Arlington

by Taylor Williams July 13, 2020

ARLINGTON, TEXAS — Stream Realty Partners has brokered the sale of a 53,586-square-foot industrial building located at 1200 Gambrel Road in Arlington. The property was originally built in 2005. James Mantzuranis of Stream Realty Partners represented the buyer, Arlington Investment Properties LLC, in the transaction. Sarah LanCarte and David Corle of LanCarte Commercial represented the seller, 109th Street LP.

July 13, 2020

Acquisitions Arizona Industrial Western

CBRE Secures $22M in Acquisition Financing for Cold Storage Facility in Phoenix

by Amy Works July 13, 2020

PHOENIX — CBRE Capital Markets Debt & Structured Finance has arranged a $22 million loan for the acquisition of a cold storage facility in Phoenix. Bruce Francis, Robert Ybarra, Shaun Moothart, Dana Summers, Doug Birrell and Jim Korinek of CBRE facilitated the loan on behalf of the borrower, a joint venture between Condor Cold Storage and AEW Capital Management. Located at 7000 W. Buckeye Road, the 285,022-square-foot property features 36-foot clear heights and office, warehouse, baking, production and ammonia freezer facilities. Café Valley Bakery, a producer of bakery products for in-store bakeries, club stores, foodservice and convenience stores, fully occupies the property. The asset was built in 2010.

July 13, 2020

Acquisitions Kentucky Multifamily Southeast

Capstone Arranges $61.4M Sale of Multifamily Portfolio in Metro Louisville, Lexington

by Alex Tostado July 13, 2020

LOUISVILLE, KY. — Capstone Apartment Partners has arranged the $61.4 million sale of a six-property, 1,185-unit multifamily portfolio in Kentucky and southern Indiana. The portfolio’s Kentucky properties comprise Iroquois Gardens, King George Apartments and Victoria Gardens in Louisville and Abigail Gardens in Lexington. The two Indiana properties, King Solomon Apartments in Jeffersonville and King David Apartments in New Albany, are situated across the Ohio River from Louisville. Alex McDermott, Adam Klenk, and Tyler Mayo of Capstone represented the buyer, Nashville-based Clear Blue Co., in the transaction. Nashville-based Elmington Property Management will manage the six properties. Battle Williford and Jon Van Hoozer of Financial Federal Bank originated the $60.2 million acquisition loan on behalf of the buyer. The non-recourse loan features a three-year term with a full interest-only payment period. The seller(s) was not disclosed.

July 13, 2020

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