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Doubletree Partners Divests of Doubletree Centre Industrial Building in Scottsdale, Arizona

by Amy Works March 13, 2020

SCOTTSDALE, ARIZ. — Doubletree Partners has completed the sale of Doubletree Centre, a multi-tenant industrial property located in Scottsdale. Quesnell International acquired the asset for an undisclosed price in a 1031 exchange. Located at 9525 E. Doubletree Ranch Road, the property features 22,303 square feet of industrial space. Doubletree Partners acquired the property in 2014 with only one tenant and invested into the building to facilitate owner/use requirements to bring the property to 100 percent occupancy. Michelle Gardner of Kidder Mathews represented the seller in the transaction.

March 13, 2020

Acquisitions Arizona Industrial Western

Industrial Outdoor Ventures Buys Heavy Industrial Facility in Glendale, Arizona

by Amy Works March 12, 2020

GLENDALE, ARIZ. — Industrial Outdoor Ventures has purchased a heavy industrial facility with storage yard, located at 4800 W. Pasadena Ave. in Glendale. WHAL Properties sold the asset for an undisclosed price. Situated on 4.6 acres, the property includes a 29,625-square-foot industrial service facility with 3,300 square feet of office space and a paved storage yard. The site is fully secured and zoned for a wide range of heavy industrial uses and features heavy three-phase power and 16-foot to 24-foor clear ceiling heights. Additionally, the property is situated near Interstates 10 and 17, less than a mile from the BNSF Intermodal Facility and 12 miles from Phoenix Sky Harbor Airport. Currently, MasTec, a multi-national infrastructure engineering and construction company, occupies the entire property. Kerri Scott and Bob Broyles of Colliers International represented the seller in the deal.

March 12, 2020

Acquisitions California Industrial Western

Sinclair Printing Sells 130,392 SF Industrial Warehouse in Southern California

by Amy Works March 12, 2020

PALMDALE, CALIF. — Sinclair Printing has completed the sale of an industrial warehouse located at 600 W. Technology Drive in Palmdale. Greenlaw Partners acquired the asset for $15 million. Dennis Marciniak and Larry McEwan of DAUM Commercial Real Estate Services completed the transaction. The buyer secured a multi-national technology company as a tenant for the 130,392-square-foot building. Situated on 8.7 acres, the property features ample warehouse space and a total of 15,000 square feet of office, conference room and an overflow storage space. The building features 28-foot clear heights, four dock-high loading doors and refrigeration.

March 12, 2020

Acquisitions Hospitality Midwest Minnesota

Marcus & Millichap Brokers $9.5M Sale of Holiday Inn Express Hotel in Minnesota

by Kristin Harlow March 12, 2020

MANKATO, MINN. — Marcus & Millichap has brokered the sale of the Holiday Inn Express Mankato for $9.5 million. Built in 2008, the five-story, 88-room hotel is located at 2051 Adams St. in southern Minnesota’s Mankato. Jake Erickson and Jared Plamann of Marcus & Millichap brokered the transaction. A Minnesota-based hotelier purchased the property from an undisclosed seller. The sales price represents a cap rate of 9.6 percent.

March 12, 2020

Acquisitions Illinois Midwest Office

Cawley Chicago Negotiates $1.7M Sale of Office Building in Naperville, Illinois

by Kristin Harlow March 12, 2020

NAPERVILLE, ILL. — Cawley Chicago has negotiated the sale of a 7,800-square-foot office building in Naperville for $1.7 million. The standalone property is located at 651 Amersale Drive. Ryan Freed of Cawley represented the seller, American Sale. Leibel Moscowitz of Vandon Forbes represented the buyer, Chabad of Naperville.

March 12, 2020

Acquisitions Idaho Multifamily Seniors Housing Western

Blueprint Arranges Sale of 39-Unit Assisted Living Community in Hayden, Idaho

by Amy Works March 12, 2020

HAYDEN, IDAHO — Blueprint Healthcare Real Estate Advisors has arranged the sale of Honeysuckle Place, a 39-unit assisted living community in Hayden, approximately 30 miles east of Spokane, Washington. A national owner-operator sold the property to a regional operator looking to expand into Idaho. The price was not disclosed. Originally built in 1996, the community was positioned as a value-add opportunity, though the seller did increase occupancy by 20 percent during the transaction process, according to Blueprint. The sale is part of a larger portfolio of strategic dispositions for the seller.

March 12, 2020

Acquisitions Industrial Northeast Pennsylvania

NorthBridge Partners Acquires Four-Building Industrial Portfolio in Philadelphia for $25.5M

by Alex Patton March 12, 2020

PHILADELPHIA — NorthBridge Partners has acquired a 281,000-square-foot, four-building portfolio situated on 27.3 acres in Philadelphia for $25.5 million. The assets are located at 2722 Commerce Way, 2801-17 Southampton Road, 2825-45 Southampton Road and 2191 Hornig Road. The properties offer convenient access to the Interstate 95 corridor. At the time of sale, the portfolio was 94 percent leased to 12 tenants including United Natural Foods Inc., Goodman Distribution and the City of Philadelphia. Frank Roddy of Roddy Inc. represented NorthBridge in the transaction. The seller(s) was undisclosed.

March 12, 2020

Acquisitions Office Texas

Mohr Capital Buys 200,000 SF Office Building in Dallas for $34.5M

by Taylor Williams March 11, 2020

DALLAS — Locally based investment firm Mohr Capital has purchased a 200,000-square-foot office building located at 4851 LBJ Freeway in Dallas for $34.5 million The 12-story building was 90 percent leased at the time of sale. Rodrigo Godoi and Kyle Campbell represented Mohr Capital, which will implement $2 million in capital improvements to the property, on an internal basis. Gary Carr, John Alvarado and Robert Hill of Newmark Knight Frank represented the undisclosed seller.

March 11, 2020

Acquisitions Multifamily New York Northeast

Rosewood Realty Arranges $5.4M Sale of Multifamily Building in Manhattan

by Alex Patton March 11, 2020

NEW YORK CITY — Rosewood Realty Group has arranged the $5.4 million sale of a 17-unit multifamily building in Manhattan. The 7,986-square-foot property is located at 336 E. 82nd St. and was completed in 1920. At the time of sale, 15 of the 17 units were vacant. Ryan Lai of Rosewood represented the buyer, Bettina Equities, in the transaction. Jack Zalta, also of Rosewood, represented the seller, Townhouse Management.

March 11, 2020

Acquisitions Colorado Multifamily Western

Watermark Residential Sells 244-Unit Multifamily Community in Colorado Springs

by Amy Works March 11, 2020

COLORADO SPRINGS, COLO. — Watermark Residential, a wholly owned affiliate of Thompson Thrift, has completed the disposition of Watermark on Union, a Class A apartment property located in the master-planned community of Briargate in northern Colorado Springs. California-based NALS Apartment Homes purchased the asset for an undisclosed price. Located at 9915 N. Union Blvd., Watermark on Union features 244 apartments with nine- to 12-foot ceilings, walk-in closets, full-size washers and dryers, stainless steel appliances, granite countertops, personal balconies or patios, and detached garages in select units. Community amenities include a resort-style pool with cabanas, fully equipped clubhouse, outdoor fire pit area, dog park and 24-hour fitness center. Kevin McKenna and Saul Levy of Newmark Knight Frank Multifamily represented the seller in the deal.

March 11, 2020

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