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Kidder Mathews Brokers $12M Sale of The Astoria Apartments in Portland, Oregon

by Amy Works January 14, 2020

PORTLAND, ORE. — Kidder Mathews has arranged the sale of The Astoria, a multifamily property located at 1913 NE 73rd Ave. in Portland. West Valley Properties sold the asset to J.E.M.S. Corp. for $12 million. Jordan Carter, Clay Newton and Tyler Linn of Kidder Mathews represented the seller and buyer in the deal. Located in Portland’s Rose City Park neighborhood, The Astoria features 68 courtyard-style apartments on more than 2.5 acres. Built in 1950, the property underwent extensive renovations over the last 10 years.

January 14, 2020

Acquisitions California Net Lease Restaurant Retail Western

SRS Arranges $6.6M Ground Lease Sale of Restaurant Asset in Garden Grove, California

by Amy Works January 14, 2020

GARDEN GROVE, CALIF. — SRS Real Estate Partners has arranged the ground lease sale of a single-tenant restaurant property, located 12001 Harbor Blvd. in Garden Grove, 1.2 miles south of Disneyland. A Southern California-based partnership sold the asset to a private investor for $6.6 million, or $1,072 per square foot. Outback Steakhouse occupies the 6,180-square-foot property on an absolute triple-net lease basis that was recently extended for an additional 20 years. Patrick Luther and Matthew Mousavi of SRS’ National Net Lease Group represented the seller, while Tom Carosella of Carosella Properties represented the buyer in the transaction.

January 14, 2020

Acquisitions California Retail Western

CBRE Negotiates $5.6M Sale of Las Cumbres Square in San Diego’s Mission Valley

by Amy Works January 14, 2020

SAN DIEGO — CBRE has arranged the sale of Las Cumbres Square, a retail center in San Diego’s Mission Valley submarket. A local private buyer acquired the property from a local investor for $5.6 million. Located at 6110-6120 Friars Road, the 12,781-square-foot property was originally built in 1978 and remodeled in 2019. At the time of sale, the retail center was 70 percent leased to nine tenants, including Round Table Pizza, Mr. Peabody’s Burgers & Ale and Los Panchos Taco Shop. Additionally, the site offers 63 off-street parking spaces. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE represented the seller in the deal.

January 14, 2020

Acquisitions Industrial New York Northeast

CenterPoint Acquires 925,411 SF Industrial Portfolio in Brooklyn

by Alex Patton January 14, 2020

NEW YORK CITY — CenterPoint Properties has acquired the Flatlands Portfolio, a 925,411-square-foot industrial portfolio comprising three buildings and a one-acre lot in Brooklyn. The three buildings are located at 101-01 Ave. D, 103-00 Foster Ave. and 101-10 Foster Ave., and the one-acre lot is between Avenue D and Foster Avenue on East 105th Street. The buildings feature clear heights ranging from 22 to 32 feet, and the portfolio was 100 percent leased to 13 tenants at the time of sale. Mat Diana, Paul Yuras and Peter Derbar of DY Realty represented the undisclosed seller in the transaction and will represent CenterPoint in leasing the portfolio moving forward.

January 14, 2020

Acquisitions Seniors Housing Texas

Ensign Group Buys 217-Unit Seniors Housing Community in San Antonio

by John Nelson January 13, 2020

SAN ANTONIO — The Ensign Group Inc. has purchased the real estate and operations of The Healthcare Center at Patriot Heights, a seniors housing campus located at 5000 Fawn Meadow in San Antonio. The property features 59 skilled nursing beds and 158 independent living units. The seller and sales price were not disclosed. The acquisition brings Ensign’s portfolio to 214 skilled nursing operations, 23 of which also include assisted living, across 13 states. Ensign owns the real estate at 90 of those properties.

January 13, 2020

Acquisitions California Multifamily Western

Sares Regis Group Divests of 83-Unit Aperture Apartments in San Bruno, California

by Amy Works January 13, 2020

SAN BRUNO, CALIF. — Sares Regis Group of Northern California (SRGNC) has completed the sale of Aperture, a multifamily property in downtown San Bruno, for an undisclosed price. The name of the buyer was not released. SRGNC developed the 83-unit property, which opened last year, in partnership with The Resmark Cos. Located at 400 San Mateo Ave., Aperture features a fitness studio, clubroom, outdoor barbecues and gathering areas, keyless entry, a bike room and electric vehicle charging stations. The property was the first residential project to delivered after San Bruno adopted the San Bruno Transit Corridors Specific Plan in 2013 to revitalize the area near the city’s Caltrain station. The development team includes KTGY as architect, RJA as civil engineer, Nishkian Menniger as structural engineer and Johnston Moyer as general contractor. The Jones-Saglimbeni Group of Institutional Property Advisors handled the transaction.

January 13, 2020

Acquisitions Arizona Retail Western

Sun Valley Plaza Holdings Acquires Retail Center Near Phoenix for $6.4 Million

by Amy Works January 13, 2020

MESA, ARIZ. — Sun Valley Plaza Holdings Inc. has acquired Sun Valley Plaza, a 94,094-square-foot retail center in Mesa, for $6.4 million. The center was 96 percent leased at the time of sale to tenants including Denim Diamonds, Main Street Antique Mall and Carbajal’s Mexican Restaurant. The seller, Michael A. Pollack Real Estate Investments, purchased the property in 2004 for $3.1 million when the center was 16 percent leased. Sun Valley Plaza is located at 7336 E. Main St., 30 miles east of downtown Phoenix.

January 13, 2020

Acquisitions Industrial Midwest Minnesota

Americold Realty Trust Acquires Cold Storage Facility in St. Paul for $56M

by Kristin Harlow January 13, 2020

ST. PAUL, MINN. — Americold Realty Trust (NYSE: COLD) has acquired Newport-St. Paul Cold Storage, a 6.1 million-cubic-foot cold storage facility in St. Paul for $56 million. The temperature-controlled property is located on I-494. The site offers three acres of adjoining land available for expansion. Separately, Americold has closed on its previously announced acquisition of Nova Cold Logistics, an owner and operator of three facilities in Canada.

January 13, 2020

Acquisitions Northeast Pennsylvania Retail

NKF Arranges $16M Sale of Mall at Whitney Field Retail Center in Leominster, Massachusetts

by Alex Patton January 13, 2020

LEOMINSTER, MASS. — Newmark Knight Frank (NKF) has arranged the $16 million sale of The Mall at Whitney Field, a 744,107-square-foot retail center in Leominster, located approximately 42 miles northwest of Boston. At the time of sale, the property was 95 percent leased to tenants including Sears, Macy’s JCPenney, Burlington and regional grocer Market Basket. Geoffrey Millerd, Justin Smith and Paul Penman led an NKF team that represented the seller, Colony Capital. Hull Property Group was the buyer.

January 13, 2020

Acquisitions Connecticut Multifamily Northeast Seniors Housing

Blueprint Arranges Sale of 100-Unit Seniors Housing Community in Stratford, Connecticut

by Alex Patton January 10, 2020

STRATFORD, CONN. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Atria Stratford, a 100-unit assisted living and memory care seniors housing community located in Stratford. Developed in 1999, the 87,000-square-foot community features 76 assisted living and 24 memory care units. A publicly traded REIT sold the property to partners of Woodbine Senior Living for an undisclosed price. Ben Firestone, Steve Thomes, Michael Segal and Alex Florea of Blueprint facilitated the sale.

January 10, 2020

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