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Asana Partners Acquires Whole Foods 365-Anchored Retail Center in Suburban Portland

by Amy Works November 15, 2018

LAKE OSWEGO, ORE. — Asana Partners has purchased Oswego Village, a five-building retail center located at 11 State St. in Lake Oswego, from an institutional seller for an undisclosed price. Situated on 7.7 acres, the 102,809-square-foot property was 84.5 percent leased at the time of sale. Tenants include Whole Foods 365, Ace Hardware, Tuesday Morning, North Lake Physical Therapy, Banfield Pet Hospital, Great Clips and Subway. Nick Kassab and Bryan Ley of HFF represented the seller in the transaction. Asana Partners acquired the property free and clear of existing debt.

November 15, 2018

Acquisitions California Industrial Western

Cushman & Wakefield Brokers $1.8M Sale of Industrial Building in Metro San Diego

by Amy Works November 15, 2018

VISTA, CALIF. — Cushman & Wakefield has arranged the sale of a freestanding industrial building, located at 2530 Pioneer Ave. in Vista. Ki’s Kitchen purchased the 9,150-square-foot property from BS Ventures for $1.8 million. Built in 1989, the property features a modernized conference room, private office space, open break room/reception, floor-to-ceiling glass walls, multiple restrooms, motorized grade loading and a secured fenced yard. The buyer, a privately owned commercial kitchen company, plans to relocate its own operations to the property from its current location in Carlsbad. Chris Baumgart and Jeffrey Sallen of Cushman & Wakefield’s San Diego office represented the seller in the deal.

November 15, 2018

Acquisitions Development Multifamily Northeast Pennsylvania

PREIT Sells Four-Acre Multifamily Development Site in Metro Philadelphia for $10.3M

by David Cohen November 14, 2018

EXTON, PA. — The Pennsylvania Real Estate Investment Trust has sold a four-acre development site in Exton for $10.3 million. The site is located adjacent to the Exton Square Mall, which is approximately 33 miles northeast of Philadelphia. The property was acquired by Hanover Co., which plans to build a 300-unit apartment building on the site. PREIT recently revamped the Exton Square Mall with the addition of a Whole Foods location earlier this year.

November 14, 2018

Acquisitions Nevada Office Western

American Nevada Co. Sells Three Office Buildings in Southern Nevada for $34M

by Amy Works November 14, 2018

HENDERSON, NEV. — American Nevada Co. has completed the disposition of three office buildings totaling 162,940 square feet in Henderson. San Francisco-based JMA Ventures acquired the assets for $34 million. This deal is the final transaction to complete the sale of American Nevada’s 1.2 million-square-foot master portfolio in Southern Nevada. The properties are located at 2475, 2485 and 2495 Village View Drive within the master planned Green Valley Corporate Center. Completed in 2004 and situated on 12.7 acres, the subportfolio consists of two two-story and one three-story Class A office buildings with reflective glass, well-designed lobby entries, common areas and tenant interiors, and large, flexible floor plates. Rick Reeder, Brad Tecca, Geoffrey West, Jayne Cayton and Michael Dunn of Cushman & Wakefield’s Capital Markets team in San Diego represented the seller in the transaction.

November 14, 2018

Acquisitions California Industrial Office Western

BLT Enterprises Divests 54,000 SF Flex Building in San Diego’s Kearny Mesa for $18M

by Amy Works November 14, 2018

SAN DIEGO — Santa Monica, Calif.-based BLT Enterprises has completed the sale of an R&D and flex building, located at 5454 Ruffin Road in San Diego’s Kearny Mesa district. San Diego Unified School District acquired the asset for $18 million, or $330 per square foot. BLT acquired the property in 2017. During its ownership, the company converted the 77,000-square-foot, two-story office building back to its original 54,000-square-foot size by removing the dated addition of a second-story office space that was constructed in the late 1980s. Additionally, BLT modernized the property and added an outdoor amenity space, new lobby, exposed high ceilings, skylights, dual-pane, energy-efficient glazing and LED lighting. Ron Jacobson of SD Realty Partners, in conjunction with Brad Black and Chris Pascale of CBRE, represented the seller, while Tom Mercer of Colliers International represented the buyer in the deal.

November 14, 2018

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Brokers $5.1M Sale of Shady Brook Apartments in Englewood, Colorado

by Amy Works November 14, 2018

ENGLEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Shady Brook Apartments, a multifamily property located at 3655 S. Pennsylvania St. in Englewood. An undisclosed buyer acquired the 38-unit property for $5.1 million, or $134,211 per unit. Kevin Calame of Pinnacle represented the undisclosed seller, while Josh Newell, also of Pinnacle, represented the buyer in the deal.

November 14, 2018

Acquisitions Multifamily Southeast Virginia

Zeke Capital Sells Apartment Community in Metro D.C. to Klingbeil Capital for $23M

by John Nelson November 13, 2018

ALEXANDRIA, VA. — Zeke Capital, based in Berwyn, Pa., has sold Hermitage Hill in Alexandria for $23 million to Columbus, Ohio-based Klingbeil Capital Management. The 122-unit apartment community is situated five miles southwest of the Pentagon and six miles southwest of Arlington National Cemetery. Hermitage Hill’s amenities include a fitness center and pet-friendly units. CBRE’s Bill Roohan, Robert Dean, Jonathan Greenberg, John McFadden, Yalda Ghamarian and Tom Leachman represented Zeke Capital in the transaction.

November 13, 2018

Acquisitions Industrial Kansas Midwest

Colliers Negotiates Sale of 46,748 SF Industrial Property in Olathe, Kansas

by Kristin Harlow November 13, 2018

OLATHE, KAN. — Colliers International has negotiated the sale of a 46,748-square-foot industrial building in Olathe for an undisclosed price. The property is located at 220 N. Mahaffie St. John Stafford of Colliers represented the seller, Steven Rogers. Chimney Corner Investments LLC purchased the asset. Tenants were not disclosed.

November 13, 2018

Acquisitions Kentucky Multifamily Southeast

Kirkland Arranges Sale of New Multifamily Community in Elizabethtown, Kentucky

by Amy Works November 12, 2018

ELIZABETHTOWN, KY. — The Kirkland Co. has arranged the sale of Crossfield Townhomes, a multifamily property located at 2201 Crossfield Drive in Elizabethtown. Mark Harris Construction sold the property to Bob and Deborah Hart for an undisclosed price. Built in 2017, the property features 28 two-bedroom apartments. Brandon Wilson and Brian Devlin of The Kirkland Co. handled the transaction.

November 12, 2018

Acquisitions California Restaurant Retail Western

Locker Realty Brokers $8.4M Acquisition of Chick-fil-A Property in Santa Monica, California

by Amy Works November 12, 2018

SANTA MONICA, CALIF. — Locker Realty Corp. has arranged the acquisition of a restaurant property, located on Lincoln Boulevard in Santa Monica. An undisclosed buyer acquired the asset for $8.4 million. Chick-fil-A occupies the 1,560-square-foot restaurant and drive-thru building, which is located on 12,314 square feet of land, on a net-leased basis. Paul Locker and Kristine Locker of Locker Realty Corp. represented the buyer, while Pat Wade and Alex Kozakov of CBRE represented the undisclosed seller in the deal.

November 12, 2018

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