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CBRE Affiliates Broker $22.9M Sale of Warehouse Facility in Durham

by Amy Works November 7, 2018

DURHAM, N.C. — CBRE|Raleigh and CBRE|Triad have arranged the sale of an industrial property located at 3700 S. Miami Blvd. in Durham. Beacon Properties acquired the property for $22.9 million. The CBRE|Raleigh and CBRE|Triad team of Dodson Schenck, Ann-Stewart Patterson and Butch Miller represented the private seller in the deal. PMB Graphics, a full-service printing and graphics communication company, occupies the entire 293,000-square-foot warehouse, which is situated within Research Triangle Park.

November 7, 2018

Acquisitions Georgia Retail Southeast

Palomar Group, Berkeley Capital Arrange $11.6M Sale of Retail Center in Warner Robins, Georgia

by Amy Works November 7, 2018

WARNER ROBINS, GA. — Palomar Group and Berkeley Capital have brokered the sale of Crossroads Marketplace, a retail property located on Watson Boulevard in Warner Robins, about 19 miles south of Macon. A Georgia-based 1031 exchange buyer acquired the property from a Charlotte-based regional investment group for $11.6 million. Best Buy and Bed Bath & Beyond anchor the 78,832-square-foot retail center. Ryan McArdle, David Rivers, Steve Collins, Jefferson Knox and Lee Malchow of Palomar Group, along with Berkeley Capital, handled the transaction.

November 7, 2018

Acquisitions Northeast Retail Vermont

Marcus & Millichap Brokers $2.3M Sale of Shopping Center in Vermont

by David Cohen November 7, 2018

WINDSOR, VT. — Marcus & Millichap has brokered the $2.3 million sale of Price Chopper Plaza, a 30,674-square-foot, grocery-anchored shopping center in Windsor. Located at 2781 US Route 5, the center is occupied by three service-based tenants, including Price Chopper, a regional grocery operator that has been at the site since 1998. The other tenants at the property include Dollar General and Aubuchon Hardware. Mark Krantz and Derrick Dougherty of Marcus & Millichap represented the seller, Gary Richetelli of Commercial Development Co., in the transaction. The buyer was a real estate investment firm based in Pittsburgh.

November 7, 2018

Acquisitions Hospitality Southeast Virginia

HREC Negotiates Sale of 107-Room Holiday Inn Hotel in Northern Virginia

by Amy Works November 7, 2018

DUMFRIES, VA. — HREC Investment Advisors has arranged the sale of Holiday Inn Dumfries-Quantico Center, a 107-room hotel located at 3901 Fettler Park Drive in Dumfries, approximately 30 miles from downtown Washington, D.C. Nabria Capital sold the property for an undisclosed price. The name of the buyer was not released. Kevin Hanley and Ketan Patel of HREC’s Washington, D.C., office represented the seller in the transaction. Situated 6.4 miles from Marine Corps Base Quantico, the hotel features complimentary wired and wireless internet access and 32-inch TVs with cable programming. On-site amenities include an outdoor pool, 24-hour fitness center and the Quantico Bar and Grill.

November 7, 2018

Acquisitions California Multifamily Western

CBRE Negotiates Sale of 368-Unit Apartment Community in South Orange County

by Amy Works November 7, 2018

SAN CLEMENTE, CALIF. — CBRE has negotiated the sale of Seacrest Apartment Homes, a multifamily property located at 240 Avenida Vista Montana in San Clemente. Newport Beach, Calif.-based TA Realty acquired the property from Western National Group, on behalf of Western National Realty Fund II, for an undisclosed price. Built in 1988, Seacrest Apartment Homes feature 368 units in a mix of one- and two-bedroom floor plans, ocean views, resort-style swimming pools and spas, a resident clubhouse with kitchen, barbecue and picnic areas, a business center, laundry facilities, and an open-air fitness center. Stewart Weston, Dean Zander and John Montakab of CBRE represented the seller. The buyer was self-represented in the transaction, which according to CBRE is the largest Orange County multifamily sale this year.

November 7, 2018

Acquisitions Multifamily Nevada Seniors Housing Western

ESI Arranges $2.1M Sale of Memory Care Facility in Las Vegas

by Amy Works November 7, 2018

LAS VEGAS — Evans Senior Investments (ESI) has arranged the sale of Vintage Park at San Martín, a 30-unit memory care community in Las Vegas. A publicly traded company sold the property to a private equity firm with a Nevada footprint for $2.1 million, or $70,000 per unit. Built in 2010, Vintage Park at San Martín features both one- and two-bedroom units with a total of 60 beds. The community is located five miles southwest of downtown Las Vegas. At the time of listing, the community was 61 percent occupied. “Vintage Park at San Martín’s low occupancy will provide the opportunity for the new buyer to generate value-add type returns and allowed the seller to exit a legacy acquisition,” says Jason Stroiman, president of ESI.

November 7, 2018

Acquisitions Industrial Texas

Stos Partners Acquires 1.4 MSF Industrial Portfolio in Laredo for $88M

by Taylor Williams November 7, 2018

LAREDO, TEXAS — Stos Partners, a San Diego-based investment and management firm, has acquired a 1.4 million-square-foot industrial portfolio in the border city of Laredo. The sales price was $88 million. The purchase was made via a joint venture with institutional investor Washington Capital Management. The seller of the portfolio, which consists of eight buildings, was an undisclosed, privately held national real estate firm.

November 7, 2018

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Brokers $2.3M Sale of Value-Add Apartment Asset in Pueblo, Colorado

by Amy Works November 6, 2018

PUEBLO, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a value-add multifamily asset located at 1024-1026 Oxford St. and 28 Amherst Ave. in Pueblo. An undisclosed buyer acquired the asset for $2.3 million. Built in 1971, the property features 35 units and is within walking distance of Safeway and King Soopers. Chris Knowlton of Pinnacle Real Estate represented the buyer and undisclosed seller in the deal.

November 6, 2018

Acquisitions Multifamily New York Northeast

Avison Young Brokers $7M Sale of Development Site in Manhattan

by David Cohen November 6, 2018

NEW YORK CITY — Avison Young has brokered the $7 million sale of a vacant development site in the East Village of Manhattan. Located at 14 Second Ave., the property offers 15,042 buildable square feet. James Nelson, Brandon Polakoff and Toku Saito of Avison Young represented the undisclosed seller in the transaction. The buyer was developer Station Cos. The developer plans to build a 10-story residential building with full-floor condominium units on the property.

November 6, 2018

Acquisitions Arkansas Multifamily Southeast

Vanguard REA Arranges Sale of 205-Unit Multifamily Portfolio in Fort Smith, Arkansas

by Amy Works November 5, 2018

FORT SMITH, ARK. — Vanguard Real Estate Advisors (Vanguard REA) has completed the sale of a two-property multifamily portfolio in Fort Smith. A Dallas-based private investor acquired the asset from Fort Smith-based Fairway FSM Properties LLC and Southbrook Properties of Fort Smith LLC for an undisclosed price. The portfolio includes the 128-unit Southbrooke Apartments and the 77-unit The Fairway at Fianna Hills. The properties are located less than two miles from each other. Jordan Cortez of Vanguard REA, along with Flake & Kelley Commercial, represented the sellers. Vanguard REA also helped procure the buyer in the deal.

November 5, 2018

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