sale2

Davlyn Investments Acquires 187-Unit Multifamily Asset in Inland Empire for $60M

by Amy Works July 31, 2019

RIVERSIDE, CALIF. — Davlyn Investments has closed escrow on the $60 million off-market purchase of Metro Gateway, a multifamily property located in Riverside. MBK Rental Living sold the property for $60 million. Constructed in 2017, the Class A asset features 187 apartments and a modern amenity package. Sean Deasy and Ryan Fitzpatrick of JLL represented the seller. Ryan Blair of City National Bank arranged acquisition financing for the buyer. This is Davlyn’s 11th acquisition in Southern California’s Inland Empire.

July 31, 2019

Acquisitions Office Washington Western

Newmark Knight Frank Negotiates $55.2M Sale of Office Campus in Bellevue, Washington

by Amy Works July 31, 2019

BELLEVUE, WASH. — Newmark Knight Frank has arranged the sale of Corporate Campus East III, an office complex in Bellevue. TA Realty sold the property to a joint venture between Steelwave and Ares Management for $55.2 million. Situated on 11.7 acres at 3001, 3005, 3009 and 3015 112th Ave NE, the four-building campus features 154,765 square feet of office space. Built in the mid-1980s, the asset underwent a major renovation in 2015. At the time of sale, the property was 90 percent occupied. On-site amenities include a cafeteria, plaza, canopies, outdoor benches and seating areas, and ample parking. Kevin Shannon, Nick Kucha, Rob Hannan, Ken White, Michael Moll and Bill Delacy of Newmark Knight Frank represented the seller, while the buyer was self-represented in the deal.

July 31, 2019

Acquisitions Arizona Retail Western

Commercial Retail Advisors Brokers Sale of Orange Grove Village Shopping Center in Tucson

by Amy Works July 31, 2019

TUCSON, ARIZ. — Commercial Retail Advisors has brokered the sale of Orange Grove Village Shopping Center, a retail strip center located at the northwest corner of Oracle and Orange Grove roads in Tucson. After 55 years of ownership, California-based 4-D Properties sold the asset to S1K LLC for an undisclosed price. The new owner plans to renovate the property and retained Stickley Design Group to head project design. Chapman Management Group was hired as the property manager, and Commercial Retail Advisors will continue in its capacity as the project leasing agent. Craig Finfrock of Commercial Retail Advisors represented both parties in the transaction.

July 31, 2019

Acquisitions Connecticut Northeast Retail

CBRE Arranges $30M Sale of Retail Property in Greenwich, Connecticut

by Alex Patton July 30, 2019

GREENWICH, CONN. — CBRE has arranged the $30 million sale of a retail property leased to CVS in Greenwich, a city on the southwest coast of Connecticut. The 10,695-square-foot property is located at 99 Greenwich Ave., in a retail and restaurant corridor that also includes apparel vendors Saks Fifth Avenue and Gucci. Jeffrey Dunne, David Gavin, Travis Langer and Will Pike of CBRE represented the seller, Midwood Investment & Development, in the transaction. The trio also procured the undisclosed buyer.

July 30, 2019

Acquisitions Arizona Industrial Western

CapRock Partners Acquires 226,436 SF Papago Distribution Center in Phoenix

by Amy Works July 30, 2019

PHOENIX — CapRock Partners, along with an institutional client advised by CenterSquare Investment Manager, has purchased Papago Distribution Center, a Class A industrial property located at 1010 N. 47th Ave. in Phoenix. A global asset manager sold the property for an undisclosed price. Updike Distribution Logistics, a third-party logistics company, fully occupies the 226,436-square-foot facility. The property features 5,000 square feet of office space, 30-foot clear heights, 60 dock-high doors and three drive-in ramps. Situated on 12 acres, the asset features a 130-foot truck court and heavy power capacity. Additionally, the property is rail-service capable with seven knock-out doors and nearly 200 parking spaces. Bo Mills and Mark Detmer of JLL represented the CapRock in the acquisition.

July 30, 2019

Acquisitions Arizona Office Western

NAI Horizon Arranges Sale of 28,312 SF Office Building in Phoenix for $4.6M

by Amy Works July 30, 2019

PHOENIX — NAI Horizon has arranged the sale of an office building, located at 2944 N. 44th St. in Phoenix. Alva Pinchot LLC sold the asset to Curran Properties for $4.6 million. The property features 28,312 square feet of office space. Lane Neville and Logan Crum of NAI Horizon represented the seller in the deal.

July 30, 2019

Acquisitions Industrial Texas

Brennan Investment Group Sells 129,061 SF Industrial Property in Dallas

by Taylor Williams July 30, 2019

DALLAS — Chicago-based Brennan Investment Group has sold 8820 Ambassador Row, an industrial property located near Love Field Airport and Interstate 35 in Dallas. According to LoopNet Inc., the property was built in 1966 on 5.9 acres and totals 129,061 square feet. The building serves as the corporate headquarters of Delivery Limited and houses all of its storage, logistics and administrative functions. The buyer was not disclosed.

July 30, 2019

Acquisitions Industrial New York Northeast

Kalmon Dolgin Negotiates $16.5M Sale of Industrial Property in New York City

by Alex Patton July 29, 2019

NEW YORK CITY— Kalmon Dolgin Affiliates (KDA) has negotiated the $16.5 million sale of a 70,000-square-foot industrial property in Queens. The property formerly housed several tenants that used the space for warehousing and distribution. The buyer plans to demolish the building and build a self-storage facility. Neil Dolgin and Grant Dolgin of KDA represented the seller, Monitor Holding Corp., as well as the buyer, 74-16 Grand Ave. LLC, in the transaction.

July 29, 2019

Acquisitions Connecticut Multifamily Northeast

Chozick Realty Brokers $15.6M Sale of Multifamily Property in Middletown, Connecticut

by Alex Patton July 29, 2019

MIDDLETON, CONN. ⁠— Chozick Realty Inc. has brokered the $15.6 million sale of Stonegate Apartments, a 179-unit multifamily property in Middleton, located just south of Hartford. The property at 1150 South Main St. offers 121 one-bedroom units and 58 two-bedroom units, with amenities including a pool, outdoor grilling areas and walking paths. The complex was originally built in 1969. Rick Chozick and Steve Pappas of Chozick Realty represented the seller in the transaction and procured the buyer, a regional owner of multifamily properties in the tri-state region.

July 29, 2019

Acquisitions Multifamily Nevada Western

Tower 16 Capital, Henley Investments Acquires Five89 Apartments in Las Vegas for $32.5M

by Amy Works July 29, 2019

LAS VEGAS — A joint venture between Tower 16 Capital and Henley Investments has purchased Five89 Apartments, a multifamily property located at 4801 E. Sahara Ave. in Las Vegas. A private seller sold the asset for $32.5 million in an off-market transaction. The buyers plan to renovate the 312-unit apartment complex. The property consists of mostly two- and three-bedroom apartments with covered parking and private balconies or patios. Community amenities include two swimming pools, a fitness center, playground and leasing office. Tower 16 will oversee the $4 million renovation and upgrade program that will include new outdoor amenities, an upgraded leasing office and interior renovations. Pinnacle will serve as property manager for the asset.

July 29, 2019

Newer Posts

Older Posts