sale2

Stonelake Capital Partners Buys 18-Building Industrial Portfolio in Austin

by John Nelson January 3, 2020

AUSTIN, TEXAS — Stonelake Capital Partners has closed on the purchase of an 18-building industrial portfolio in Austin totaling nearly 530,000 square feet. The seller was the McWane Family of Cos., an iron products manufacturer based in Birmingham, Ala. Stonelake Capital purchased the portfolio for an undisclosed price in an off-market transaction via its Stonelake Opportunity Partners V LP fund. Stonelake Capital is now one of the largest industrial landlords in Austin, with a 25-building portfolio spanning more than 850,000 square feet. Travis Eickenhorst and Cole Wilson lead the company’s Austin investment strategy.

January 3, 2020

Acquisitions Hospitality Illinois Midwest

Mumford Co. Brokers Sale of 141-Room Best Western Hotel in Rosemont, Illinois

by Kristin Harlow January 3, 2020

ROSEMONT, ILL. — Mumford Co. has brokered the sale of the 141-room Best Western hotel in Rosemont for an undisclosed price. The three-story property is situated near Chicago’s O’Hare International Airport. Ed James and George Arvanitis of Mumford represented the seller, OMS O’Hare LLC. The team also procured the buyer, North Star Real Estate Group LLC, a Minnesota-based hotel investment group.

January 3, 2020

Acquisitions Midwest Minnesota Restaurant Retail

Marcus & Millichap Arranges $1.7M Sale of Net-Leased Arby’s Property in Minnesota

by Kristin Harlow January 3, 2020

AUSTIN, MINN. — Marcus & Millichap has arranged the $1.7 million sale of a 3,713-square-foot property net leased to Arby’s in Austin, approximately 40 miles southwest of Rochester in southern Minnesota. Tom Gommels of Marcus & Millichap’s Minneapolis office marketed the single-tenant building, located at 1305 18th Ave. NW, on behalf of the seller, a limited liability company. Chad Lieber of Marcus & Millichap’s Newport Beach office secured and represented the buyer, an individual trust based in California.

January 3, 2020

Acquisitions Arizona Loans Multifamily Western

NorthMarq Arranges $40.1M Sale of Soleil Apartments in Chandler, Arizona

by Amy Works January 3, 2020

CHANDLER, ARIZ. — NorthMarq has negotiated the sale of Soleil Apartments, a multifamily property located near Dobson and Ray roads in Chandler. Phoenix-based 3rd Ave Investments acquired the asset from Soleil Chandler Apartments LLC for $40.1 million. Built in 1995, Soleil Apartments features 188 units in a mix of one-bedroom, two-bedroom and three-bedroom layouts. The buyer plans to upgrade the unit interiors and exterior common areas to provide current and future residents with more modern amenities. Trevor Koskovich, Jesse Hudson and Bill Hahn of NorthMarq’s Phoenix Investment Sales team represented the buyer and seller in the deal. James DuMars and Griffin Martin of NorthMarq’s Phoenix debt/equity team arranged a $33.2 million NXT loan for the acquisition.

January 3, 2020

Acquisitions Arizona Industrial Office Western

CBRE Brokers Sale of 55,392 SF Flex Industrial/Office Building in Gilbert, Arizona

by Amy Works January 3, 2020

GILBERT, ARIZ. — CBRE has arranged the sale of a flex industrial and office building located at 1145 W. Gary Road in Gilbert. Martinsburg, Pa.-based Curry Supply Co. acquired the property from Edmonton, Alberta-based Silent-Aire. Curry Supply, a manufacturer and dealer of commercial service vehicles, will occupy the building, which serve as its fifth U.S. location and first Arizona location. Situated on 3.16 acres, the two-story, 55,392-square-foot building features 10,000 square feet of office space that includes offices, conference rooms, open bullpen areas, break rooms, restrooms and a dedicated server room. The remaining industrial space features an evaporate-cooled warehouse with LED lighting throughout, 24-foot clear ceiling heights, five grade-level doors, two truck wells and existing five-ton and one-ton cranes. Additionally, the property offers 72 parking spaces. Rusty Kennedy, Pat Feeney, Dan Calihan and James Cohn of CBRE in Phoenix represented the seller, a global manufacturer of HVAC equipment and modular data centers, in the transaction.

January 3, 2020

Acquisitions California Industrial Western

JLL Negotiates $4.5M Sale of Industrial Building Near San Diego

by Amy Works January 3, 2020

VISTA, CALIF. — JLL has brokered the sale of an industrial building located at 1330 Park Center Drive in Vista. Sunny Harvest LLC acquired the property from Park Center Holdings for $4.5 million, or $199 per square foot. Chris Baumgart and Steven Field of JLL’s North County San Diego team represented the seller in the transaction. The 22,356-square-foot, freestanding building features 24-foor clear heights, dock- and grade-level loading and solar panels. At the time of sale, the property was partially occupied by Thirty-Third Threads, an affiliate of the seller. The tenant plans to lease back its space.

January 3, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 46,250 SF Industrial Building in The Colony, Texas

by John Nelson January 2, 2020

THE COLONY, TEXAS — Marcus & Millichap has brokered the sale of Riverview Business Center, a 46,250-square-foot industrial building located at 1671 Riverview Drive in The Colony. Situated on a four-acre parcel, the property was built in 2006 and renovated in 2010. Adam Abushagur of Marcus & Millichap’s Dallas office represented the seller, a private investor, in the transaction. Abushagur also procured the buyer, a private investor based in California that used the 1031 program.

January 2, 2020

Acquisitions Massachusetts New Jersey New York Northeast Pennsylvania

Winstanley Enterprises, Surrey Equities Acquires 23-Property Supermarket Portfolio

by Alex Patton January 2, 2020

NEW ENGLAND — A partnership of Massachusetts-based Winstanley Enterprises LLC and New York-based Surrey Equities LLC has acquired a 23-property supermarket portfolio primarily located in the New England area for $150 million. The total 1.4 million-square-foot portfolio comprises Stop & Shop-branded supermarkets. Property locations include 14 stores in the New England area as well as other sites in New Jersey, New York, Pennsylvania, Virginia, North Carolina, South Carolina and Georgia. Winstanley and Surrey acquired the portfolio as part of a long-term investment strategy to acquire well-located urban infill supermarkets in hard to replicate locations. The properties are triple-net leased to Ahold Lease USA Inc., a subsidiary of Dutch retail company Koninklijke Ahold Delhaize N.V. Ben Cooper and Jim Jordan of Cushman & Wakefield brokered the transaction. The seller was Philip Morris Capital Corp.

January 2, 2020

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Negotiates $4.2M Sale of Apartment Property in Minnesota

by Kristin Harlow January 2, 2020

MANKATO, MINN. — Marcus & Millichap has negotiated the $4.2 million sale of The Edge in Mankato in southern Minnesota. The 48-unit apartment property is located at 1902 Warren St. Built in 1967, the asset features 24 one-bedroom units and 24 two-bedroom units. Chris Collins, Evan Miller and Abe Roberts of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured and represented the private buyer.

January 2, 2020

Acquisitions Michigan Midwest Office

Dominion Arranges Sale-Leaseback of 21,887 SF Office Building in Southfield, Michigan

by Kristin Harlow January 2, 2020

SOUTHFIELD, MICH. — Dominion Real Estate Advisors (DRA) has arranged the sale-leaseback of 29444 Northwestern Highway, a 21,887-square-foot office building in Southfield, for an undisclosed price. Sean Jamian and Jordan Banks of DRA represented the buyer, JQK Properties LLC. As part of the transaction, DRA negotiated a new lease between the seller, ENCO Systems, and the new buyer. Enco, an audio-visual equipment supplier, will continue occupying a portion of the building while JQK completes renovations to the property’s interior.

January 2, 2020

Newer Posts

Older Posts

Upcoming Events

Aug
18