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Marcus & Millichap Brokers Sale of 166-Room Comfort Inn & Suites in Syracuse

by David Cohen November 1, 2018

SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of the Comfort Inn & Suites – Syracuse Airport, a 166-room hotel in Syracuse. The sales price was undisclosed. Jerry Swon and Daniel Zagoria of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was KPG Hotels. The property is located approximately four miles from Syracuse Hancock International Airport. Amenities at the hotel include complimentary buffet breakfast, onsite restaurant and bar, indoor heated pool, fitness center and business center.

November 1, 2018

Acquisitions Industrial Midwest Minnesota

Summerhill Arranges $8M Sale of Warehouse in Oakdale, Minnesota

by Kristin Harlow November 1, 2018

OAKDALE, MINN. — Summerhill Commercial Real Estate LLC has arranged the $8 million sale of a 109,444-square-foot warehouse in Oakdale, about 20 miles east of Minneapolis. Built in 1998, the property features a clear height of 24 feet, 13 dock doors and one drive-in door. RR Donnelly and Sky Zone fully occupy the property on net leases. Andy Richards and Peter Kordonowyof Summerhill represented the buyer, STAG Industrial Holdings LLC. Mark Young and John Higgins of Crossroads Properties Inc. represented the undisclosed seller.

November 1, 2018

Acquisitions Multifamily Oregon Western

Watt Cos. Acquires 240-Unit Sygnii Apartment Community in Metro Portland for $75.2M

by Amy Works November 1, 2018

TIGARD, ORE. — Los Angeles-based Watt Cos. has purchased Sygnii, a multifamily property located at 13285 SW Hawks Beard St. in Tigard, a suburb of Portland. Vancouver, Wash.-based Holland Partner Group sold the property for $75.2 million. Built in 2017, the property features 240 units in a mix of one-, two- and three-bedroom layouts. The property offers parking for 409 vehicles in 74 garages, 99 carport stalls and 236 surface spaces. Mark Washington, David Young and Corey Marx of JLL represented the seller, which developed the property.

November 1, 2018

Acquisitions Georgia Retail Southeast

Mimms Enterprises Sells Two Shopping Centers in Metro Atlanta to Jamestown

by Amy Works November 1, 2018

SANDY SPRINGS, GA. — Mimms Enterprises has sold two adjacent shopping centers totaling 334,787 square feet in Sandy Springs, a suburb of Atlanta. Jamestown purchased the portfolio free and clear of existing debt for an undisclosed price. The portfolio includes The Exchange at Hammond, located at 5930-5992 Roswell Road. The 176,376-square-foot property is fully leased to tenants including Whole Foods Market, Marshalls, Office Depot, Petco and Dollar Tree. The other asset is Parkside Shops, located at 5920 Roswell Road. The 158,411-square-foot shopping center is leased to tenants including The Cinema Springs & Taphouse, Battle and Brew, Tuesday Morning, Jump Start Gym, Chipotle Mexican Grill, Egg Harbor Café, Subway and il Giallo Osteria & Bar. Jim Hamilton, Brad Buchanan, Michael Allison and Shea Patrick of HFF represented Mimms in the deal.

November 1, 2018

Acquisitions Maryland Retail Southeast

KLNB Negotiates Sale of 190,211 SF Shopping Center Near D.C.

by Amy Works November 1, 2018

LANHAM, MD. — KLNB Investment Sales Group has arranged the sale of Enterprise Plaza Shopping Center, a retail property situated on 16.7 acres in Lanham, a suburb of Washington, D.C. An affiliate of Combined Properties sold the asset to East Coast Acquisitions for an undisclosed price. Aldi and T.J. Maxx anchor the 190,211-square-foot property. Aldi recently exercised a five-year renewal option on its lease to extend its occupancy until 2023. Additional tenants include Verizon Wireless, Advance Auto Parts, Dollar Tree, SunTrust Bank, Shell, Taco Bell and Wendy’s. Andy Stape and Vito Lupo of KLNB Investment Sales represented the seller and procured the buyer. Matt Skalet and Matt Copeland of KLNB were retained by the buyers as the leasing agents for the property, which is the buyer’s first acquisition in the Mid-Atlantic region.

November 1, 2018

Acquisitions California Industrial Western

Faris Lee Investments Negotiates $1.5M Acquisition of Industrial Property in Costa Mesa

by Amy Works November 1, 2018

COSTA MESA, CALIF. — Faris Lee Investments has arranged the acquisition of an industrial property located within the Mesa West Bluffs Urban Redevelopment Plan in Costa Mesa. A private investor purchased the property for $1.5 million. Thomas Chichester, Joseph Chicester and Matt Brooks of Faris Lee represented the buyer, while Lee & Associates represented the undisclosed seller in the deal. Built in 1961 and located at 789 W. 20th St., the multi-tenant property features 5,228 square feet of industrial space.

November 1, 2018

Acquisitions Development Industrial Kentucky Self-Storage Southeast

Ziff Properties Acquires Warehouse in Lexington for Self-Storage Conversion

by Amy Works October 31, 2018

LEXINGTON, KY. — Ziff Properties has purchased the former Golden Burley Tobacco Warehouse and Building Materials Warehouse located on Angliana Avenue in Lexington for an undisclosed price. Fred Pfister of Silvestri Craig Realtors facilitated the transaction. The name of the seller and sales price were not released. Ziff Properties plans to convert the property, which is situated on 3.5 acres, into a Class A self-storage facility with 103,500 square feet of climate- and non-climate-controlled units. CubeSmart Self Storage will manage the asset.

October 31, 2018

Acquisitions Industrial Kentucky Southeast

Brennan Investment Buys 194,519 SF Industrial Facility in Louisville for Sale-Leaseback Deal

by Amy Works October 31, 2018

LOUISVILLE, KY. — Brennan Investment Group has acquired an industrial property located at 1300 W. Park Road in the Bullitt submarket of Louisville. Concurrent with the acquisition, the 194,519-square-foot property was leased back to the seller, a joint venture between Westfall Technik and a client of Arch Street Capital Advisors. The building is fully occupied by Amaray, a specialized global plastic packaging company, which was simultaneously acquired by Westfall Technik. Amaray has occupied the property since 2003.

October 31, 2018

Acquisitions Nevada Retail Western

Weingarten Realty Sells Dual Grocery-Anchored Shopping Center in Las Vegas for $59M

by Amy Works October 31, 2018

LAS VEGAS — Houston-based Weingarten Realty has completed the sale of Tropicana Beltway Shopping Center, a retail property located in Las Vegas. Affiliates of San Francisco-based The Krausz Cos. acquired the property for $59 million. Mark Lucescu of Lucescu Realty represented the seller and procured the buyer in the deal. Walmart Supercenter, Lowe’s, Ross Dress for Less, PetSmart, Office Depot, 99 Cents Only (featuring a grocery department) and Pier 1 Imports anchor the 617,821-square-foot shopping center. At the time of sale, the property was 99.7 percent occupied. Additional tenants include Applebee’s, Bank of America, IHOP, Panera Bread, Chase Bank, Pacific Dental Services, Chipotle, Del Taco, Leslie’s Pool Supplies, Panda Express, T-Mobile, Club Pilates, Cricket Wireless, Sally Beauty Supply, Starbucks Coffee, MetroPCS, Subway, The UPS Store, GNC, GameStop, Sport Clips and The Joint Chiropractic. Neither Walmart Supercenter or Lowe’s Home Improvement Warehouse were included the in the sale.

October 31, 2018

Acquisitions California Office Western

GM Properties Brokers $12.5M Sale of 104,000 SF Office Park in Santa Fe Springs, California

by Amy Works October 31, 2018

SANTA FE SPRINGS, CALIF. — GM Properties has brokered the sale of Imperial Square, a multi-tenant office park located at 12631 E. Imperial Highway in Santa Fe Springs. An undisclosed buyer acquired the property for $12.5 million. Situated on 5.8 acres, the five-building, 104,000-square-foot office complex features more than 100 suites. At the time of sale, the property was 90 percent occupied. Ben Greer and Dustin Wheelan of GM Properties represented the undisclosed seller in the transaction.

October 31, 2018

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