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HFF Brokers $18.5M Sale of Publix-Anchored Retail Center Near Chattanooga

by Camren Skelton September 20, 2018

OOLTEWAH, TENN. — HFF has brokered the $18.5 million sale of Snow Hill Village, an 86,108-square-foot shopping center in Ooltewah, roughly 18 miles east of Chattanooga. Jim Hamilton, Mike Allison and Andrew Kahn of HFF arranged the transaction on behalf of the seller, Six Pines Realty. Publix Super Markets — which anchors the center — was the buyer. Snow Hill Village was constructed in 2008 and was 95 percent leased at the time of sale. In addition to Publix, the center is home to tenants such as Beef O’Brady’s, Edward Jones, H&R Block, The UPS Store, Dr. Hammontree, Ooltewah Vision Center, Unique Nails, Marco’s Pizza, SunTrust Bank, Open Spigot Liquor and Great Clips.

September 20, 2018

Acquisitions Healthcare Northeast Office Rhode Island

Montecito Purchases 68,500 SF Medical Office Building in East Providence, Rhode Island

by Jeff Shaw September 19, 2018

EAST PROVIDENCE, R.I. — Montecito Medical Real Estate has acquired the University Medicine Medical Office Building in East Providence. The sales price was undisclosed. The four-story, 68,500 square-foot property was built in 2016 and is occupied by anchor tenant University Medicine as well as Brown Dermatology, Performance Physical Therapy and Asthma & Allergy Physicians of Rhode Island. University Medicine is one of the largest primary care providers in Rhode Island. The seller was undisclosed.

September 19, 2018

Acquisitions Midwest Missouri Retail

Pinnacle Brokers $3.2M Sale of Dollar Store Portfolio in Metro St. Louis

by Kristin Harlow September 19, 2018

ST. LOUIS — Pinnacle Real Estate Advisors LLC has brokered the sale of a three-property dollar store portfolio in metro St. Louis for $3.2 million. The portfolio includes a Dollar General store at 7900 Olive St. in University City; a Dollar General store at 10 Fee Fee Road in Maryland Heights; and a Family Dollar store at 9474 Lackland Road in Overland. Zach Wright of Pinnacle’s Edwards | Ethington Team represented the buyer, a Colorado-based investor completing a 1031 tax-deferred exchange. A local real estate company was the seller.

September 19, 2018

Acquisitions Georgia Office Southeast

NKF Capital Markets Brokers $13.6M Sale of Office Portfolio in Metro Atlanta

by Camren Skelton September 19, 2018

ROSWELL, GA. — NKF Capital Markets has arranged the $13.6 million sale of a two-building office portfolio located at 1544 Old Alabama Road and 900 Holcomb Woods Parkway in Roswell, roughly 24 miles north of Atlanta. Eva Horton of NKF Capital Markets arranged the transaction on behalf of the seller, LNR Partners LLC. RD Sharma acquired the assets, which are located on either side of Holcomb Woods Parkway. The three-story, 70,000-square-foot building on Old Alabama Road is fully leased to McCalla Raymer Leibert Pierce LLC, a residential and commercial real estate legal services firm. RD Sharma recently sold the two-story, 20,000-square-foot building on Holcomb Woods Parkway to a corporate user.

September 19, 2018

Acquisitions Colorado Multifamily Western

Equity Residential Purchases 354-Unit Multifamily Tower in Denver

by Amy Works September 19, 2018

DENVER — Equity Residential has acquired SkyHouse Uptown, a high-rise multifamily community located in Denver. Simpson Housing and Novare Group sold the property for an undisclosed price. David Martin, Pamela Koster and Mike Grippi of JLL represented the sellers in the deal. Completed in 2017, the property features 354 residential units, 6,650 square feet of street-level retail space and parking for 485 vehicles. On-site amenities include a rooftop pool, open-air lounge, fireplaces, outdoor grilling stations, fitness and business centers, a clubhouse/game room, storage units, bike, ski and snowboard storage and a 24/7 concierge.

September 19, 2018

Acquisitions California Industrial Western

Voit Real Estate Negotiates $18.2M Sale of Warehouse Property in Southern California

by Amy Works September 19, 2018

SAN BERNARDINO, CALIF. — Voit Real Estate Services has arranged the sale of a newly developed industrial warehouse building located at 2705 Lexington Ave. in San Bernardino. A partnership between Hartford, Conn.-based Penwood Select Industrial Partners III and Newport Beach, Calif.-based Shaw Development Partners sold the property to a global consumer products company for $18.2 million. The 154,451-square-foot facility features 2,200 square feet of office space, an ESFR sprinkler system, a secured concrete truck court and electrical service of 1,200 amps. The buyer plans to use the property for its own operational and distribution needs. Frank Geraci, Juan Gutierrez and Adam Geiger of Voit’s Inland Empire office represented the seller in the transaction.

September 19, 2018

Acquisitions Multifamily Washington Western

Colliers Brokers $3.4M Sale of Apartment Complex in Kirkland, Washington

by Amy Works September 19, 2018

KIRKLAND, WASH. — Colliers International has arranged the sale of The Residences at 518, an apartment complex located at 518 Second St. in Kirkland. Greenwood Pub LLC sold the property to Goodwin DC LLC for $3.4 million, or $339,000 per unit. Colliers’ Tim McKay, Dan Chhan and Sam Wayne handled the transaction. Built in 1901, the 10-unit property was fully renovated in 2016 resulting in additional units and exterior upgrades.

September 19, 2018

Acquisitions Multifamily New York Northeast

Sugar Hill Capital Partners Acquires Multifamily Community in Brooklyn for $5.6M

by David Cohen September 18, 2018

NEW YORK CITY — Sugar Hill Capital Partners has acquired a two-building multifamily community in Brooklyn for $5.6 million. Located at 932-938 Eastern Parkway, the 24,600-square-foot property consists of 24 units. The seller was real estate investor and film producer Joseph Scarpinito. Jacob Stavsky of Venture Capital Properties represented both the buyer and seller in the off-market transaction.

September 18, 2018

Acquisitions California Office Western

Granite Properties Buys 346,334 SF Office Building in Southern California

by Amy Works September 18, 2018

NEWPORT BEACH, CALIF. — Granite Properties has purchased 100 Bayview — a six-story, Class A office property located in Newport Beach — for undisclosed price. The 346,334-square-foot building features an on-site fitness center and close proximity to a 250-room Marriott hotel, restaurants, retail and walking trails. The building has undergone a number of renovations. Granite Properties plans to further invest in the property by improving the lobby and outdoor common spaces, including balconies and private patios. Granite Properties owns and manages six Class A office buildings in Southern California totaling more than 1.7 million square feet. Eastdil Secured represented the undisclosed seller in the deal.

September 18, 2018

Acquisitions Nevada Office Retail Western

Colliers Negotiates Three Office, Retail Sales Totaling $19M in Las Vegas

by Amy Works September 18, 2018

LAS VEGAS — Colliers International – Las Vegas has brokered three sales of properties in Las Vegas for a total consideration of $19 million. In the first deal, Dan Gluhaich of Colliers represented Green Circle Foundation in the purchase of a retail property located at 3815-3835 Blue Diamond Road. An undisclosed seller sold the 24,447-square-foot property for $9.1 million. In the second transaction, 325 SW LLC purchased a 70,000-square-foot office property located at 325 E. Warm Springs Road within Park Place. GCCFC 2005-GGC Warm Springs Office sold the property for $8.7 million. Taber Thill and Patti Dillon of Colliers represented the seller. In the final deal, Thill and Dillon represented Nemo Inc. in the disposition of an office property located at 229 S. Las Vegas Blvd. Green Unicorn LLC acquired the 8,250-square-foot property for $1.2 million.

September 18, 2018

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