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Gila-Springs-Industrial-Park-Chandler-AZ

Bird Dog Industrial Acquires Gila Springs Industrial Park in Arizona for $10.1M

by Amy Works November 11, 2019

CHANDLER, ARIZ. — La Jolla, Calif.-based Bird Dog Industrial has purchased Gila Springs Industrial Park, an industrial complex located near Chandler Boulevard and Kyrene Road in Chandler. GBI Erie, an Arizona corporation led by the Imdieke Family, sold the asset for $10.1 million, or $98.79 per square foot. Constructed between 1988 and 1997, the property’s five buildings offer a total of 101,934 square feet of industrial space. UCT, a subsidiary of Ultra Clean, occupies the complex. The properties are located at 5773, 5763 and 5753 W. Erie St., 481 N. Dean Ave. and 57240 W. Oakland St. All buildings except 5773 W. Erie St. are fully air conditioned. The properties also offer grade and truck-well loading and between 10 percent to 25 percent of space is dedicated to office build-outs, with one facility offering clean-room space. Chris McClurg of Lee & Associates represented the buyer, while Paul Sieczkowski and Justin Sieczkowski of Colliers International in Arizona represented the seller in the deal.

November 11, 2019

Acquisitions California Loans Multifamily Seniors Housing Western

Capital One Funds $7.7M Acquisition Loan for Age-Restricted Community in California

by Amy Works November 11, 2019

MANTECA, CALIF. — Capital One has provided a $7.7 million Fannie Mae loan for the acquisition of Almond Blossom Estates. The 139-unit, age-restricted, manufactured housing community is located in Manteca, a Central Valley city 75 miles east of San Francisco. The sponsor is a long-time Capital One and Fannie Mae customer. Damon Reed and Monica Schroeder of Capital One originated the transaction. The fixed-rate loan has a 12-year term with five years of interest-only payments followed by a 30-year amortization schedule.

November 11, 2019

Acquisitions Midwest Minnesota Retail

Upland Negotiates $8.9M Sale of Walgreens-Occupied Property in Minnesota

by Kristin Harlow November 8, 2019

ROBBINSDALE, MINN. — Upland Real Estate Group Inc. has negotiated the $8.9 million sale of a single-tenant retail property occupied by Walgreens in Robbinsdale, about seven miles northwest of Minneapolis. Walgreens has a triple net lease with more than 16 years remaining. The property is situated at the corner of West Broadway and 41st avenues. Buyer and seller information was not disclosed.

November 8, 2019

Acquisitions Office Washington Western

NKF Negotiates $52.9M Sale of 94,333 SF Office Building in Seattle’s CBD

by Amy Works November 8, 2019

SEATTLE — Newmark Knight Frank (NKF) has arranged the sale of First and Stewart, a creative office property located at 101 Steward St. in Seattle’s central business district. L&B Realty Advisors sold the asset to DWS, formerly known as RREEF, for $59.2 million, according to public records reported by The Registry. Situated at the convergence of the Pike Place Market, Belltown, Retail Core and central district, the building features 94,333 square feet of Class A creative office space. Nick Kucha, Michael Moll, James Childress, Jesse Ottele and Tim O’Keffe of NKF represented the seller, while the buyer was self-represented in the deal.

November 8, 2019

Acquisitions California Net Lease Restaurant Retail Western

Valore Ventures Sells Triple-Net Leased Outback Steakhouse Property in Southern California

by Amy Works November 8, 2019

GARDEN GROVE, CALIF. — Valore Ventures has completed the sale of a restaurant property located at 12001 Harbor Blvd. in Garden Grove. A private investor acquired the asset for $6.6 million. Outback Steakhouse occupies the 6,180-square-foot building, which was built in 2001, on a triple-net leased basis. The property is situated a mile from Disneyland and Disney California Adventure and minutes from the Anaheim Convention Center. Valore Ventures originally purchased the property as part of a four-building portfolio that included a Red Robin Gourmet Burger and Brews, Joe’s Crab Shack and Oggi’s Pizza & Brewery. This sale is the last of the four fee simple interests that Valore acquired in January for $13.1 million. Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group brokered the transaction.

November 8, 2019

Acquisitions Colorado Industrial Western

CBRE Negotiates Sale of 633,193 SF Distribution Portfolio Near Denver Airport

by Amy Works November 7, 2019

AURORA AND COMMERCE CITY, COLO. — CBRE has arranged the sale of the Denver Distribution Portfolio, a three-building industrial portfolio located in Denver’s Airport submarket. A confidential investment firm sold the asset to Bethesda, Md.-based ASB Investment Management for an undisclosed price. The portfolio includes a 406,959-square-foot facility at 22100 E. 26th Ave. in Aurora, an 85,604-square-foot building at 18300 E. 28th Ave. in Aurora and a 140,630-square-foot property at 9410 Heinz Way in Commerce City. The 633,193-square-foot portfolio is fully leased to Subaru of America, Old West Mattress Co. and a national retailer. Constructed between 2000 and 2007, the three buildings feature dock-high and drive-in loading, ESFR sprinklers and 28-foot to 32-foot clear heights. Additionally the portfolio includes trailer parking, outdoor storage, covered loading and BNSF rail service. Jim Bolt, Tyler Carner and Jeremy Ballenger of CBRE represented the seller in the transaction.

November 7, 2019

Acquisitions California Net Lease Retail Western

NKF Directs $8.8M Sale of Triple-Net Leased Retail Property in Orange, California

by Amy Works November 7, 2019

ORANGE, CALIF. — Newmark Knight Frank (NKF) has arranged the sale of a single-tenant retail property located at 1809 W. Chapman Ave. in Orange. A Southern California-based family trust acquired the property from Orange County, Calif.-based Adray Plaza for $8.8 million in a 1031 exchange. Fresenius Medical Care, a dialysis clinic, occupies the 21,000-square-foot property on an absolute, triple-net lease basis. Glenn Rudy and Rob Ippolito of NKF represented the seller, while Matthew Graham of Graham & Associates represented the buyer in the deal.

November 7, 2019

Acquisitions California Retail Western

Hanley Investment Group Brokers $5M Sale of Retail Asset in Long Beach, California

by Amy Works November 7, 2019

LONG BEACH, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of high-street, multi-tenant retail property located at 5354 E. Second St. in Long Beach’s Belmont Shore neighborhood. A Jackson, Wyo.-based private investor sold the asset to a Long Beach-based private investor for $5 million. Built in 1952, the two-story building features 8,991 square feet of retail space. At the time of sale, the property was 100 percent leased. Current tenants include Arthritis National Research Foundation, Jonnum Media, The Flynn Group and FEA Consulting. Kevin Fryman, Carlos Lopez and Ed Hanley of Hanley Investment Group represented the seller, while Nathan Holthouser of CBRE’s Newport Beach, Calif., represented the buyer in the transaction.

November 7, 2019

Acquisitions Arizona Multifamily Western

Marcus & Millichap Arranges $4.1M Sale of Youngtown House Apartments in Suburban Phoenix

by Amy Works November 6, 2019

YOUNGTOWN, ARIZ. — Marcus & Millichap has negotiated the sale of Youngtown House Apartments, a multifamily property located at 11141 W. Arizona Ave. in Youngtown, a city 20 miles northwest of Phoenix. An undisclosed buyer acquired the community for $4.1 million, or $64,063 per unit. Built in 1970, Youngtown House Apartments features 64 units and is close to a variety of retailers, including Fry’s Food and Drug, Taco Bell, Subway, Starbucks Coffee and QuikTrip. Rich Butler and Sean Connolly of Marcus & Millichap represented the buyer and undisclosed seller in the deal.

November 6, 2019

Acquisitions Colorado Multifamily Western

Gelt Sells 400-Unit Westhills Apartment Homes Near Denver for $92M

by Amy Works November 5, 2019

LAKEWOOD, COLO. — Los Angeles-based Gelt Inc. has completed the sale of Westhills Apartment Homes, a multifamily property located at 453 Van Gordon St. in Lakewood, a submarket of Denver. An undisclosed buyer acquired the community for $92 million. Built in 1972 and situated on 16.2 acres, the 27-building property features 400 units in a mix of two studios, 108 one-bedroom layouts and 290 two-bedroom units. Community amenities include two outdoor swimming pools, a fitness center, basketball court, dog park, playground and a clubhouse with kitchen and lounge area featuring WiFi. The garden-style community is within walking distance to the Federal Center Light Rail Station, which allows a convenient commute to downtown Denver.

November 5, 2019

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