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Mira-Mesa-Distribution-Center-San-Diego-CA

Sukut Real Properties Buys 293,800 SF Mira Mesa Distribution Center in San Diego

by Amy Works September 17, 2018

SAN DIEGO — Orange County, Calif.-based Sukut Real Properties has acquired Mira Mesa Distribution Center, a multi-building distribution park located in San Diego’s Sorrento Mesa submarket. The Sickels Group sold the property for an undisclosed price. The property resides on a ground lease, which has approximately 68 years remaining. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Dean Asaro and Brant Aberg of Cushman & Wakefield’s San Diego and Orange County offices represented the seller in the deal. Located at 5960 Pacific Mesa Court and 5985 and 5995 Pacific Center Blvd., Mira Mesa Distribution Center comprises three buildings totaling 293,800 square feet. Developed in 1989, the campus features flexible divisibility options, efficient warehouse and office layouts, dock and grade loading and ample parking. At the time of sale, the property was fully leased to 10 national and international tenants.

September 17, 2018

Acquisitions Multifamily Nevada Western

NAI Alliance Negotiates $2.4M Sale of Apartment Community in Reno

by Amy Works September 17, 2018

RENO, NEV. — NAI Alliance has arranged the sale of Locust Apartments, a two-parcel multifamily property located 1700 Locust St. and 520 Colorado River Blvd. in Reno. A Reno-based private developer and investor sold the community to an undisclosed buyer for $2.4 million. Built in 1986 and renovated in 2016 and 2017, the property features 17 garden-style apartment units with granite countertops, stainless steel appliances, Tahoe wood-style cabinetry and all new blinds, windows, doors, roofs and water heaters. The community offers a mix of studio, one- and two-bedroom units, a laundry room and a manager’s quarters. At the time of sale, the property was 100 percent leased. Benjamin Nelson of NAI Alliance represented the seller in the deal.

September 17, 2018

Acquisitions New Jersey Northeast Office

HFF Negotiates Sale of 538,107 SF Medical Office Complex in New Jersey

by David Cohen September 14, 2018

MORRISTOWN, N.J. — HFF has negotiated the sale of a 538,107-square-foot, three-building medical office complex in Morristown. The sales price was not disclosed. The three buildings are located at 435, 465 and 475 South St. and are currently 93 percent leased to Atlantic Health System. HFF represented the seller, National Business Parks Inc., in the transaction. The buyer was Harrison Street Real Estate Capital.

September 14, 2018

Acquisitions Florida Retail Southeast

Plaza Advisors Negotiates Sale of 114,071 SF, Walmart-Anchored Shopping Center in Central Florida

by Camren Skelton September 14, 2018

KISSIMMEE, FLA. — Plaza Advisors has arranged the sale of Vine Street Square, a 114,071-square-foot shopping center in Kissimmee, located roughly 30 miles south of Orlando. Jim Michalak and Keith Nurre of Plaza Advisors arranged the transaction on behalf of the seller, Phillips Edison & Co. A private equity group purchased the asset for an undisclosed price. Walmart Neighborhood Market anchors the center, which was 99 percent leased at the time of sale. Additional tenants include Humana, CAC FL Medical Centers, Mattress One, CosmoProf, Domino’s Pizza, H&R Block and MetroPCS.

September 14, 2018

Acquisitions California Retail Western

Hanley Investment Group Brokers $23M Sale of Retail Building in Pasadena

by Amy Works September 14, 2018

PASADENA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $23 million sale of a 39,290-square-foot retail building in Pasadena. Carlos Lopez and Lee Csenar of Hanley Investment Group arranged the transaction on behalf of the seller, AEGON USA Realty Advisors. John Repstad of Realty Advisory Group Inc. represented the buyer, a private investor based in Beverly Hills. The first and second floor of the freestanding building — totaling 27,025 square feet — are triple-net-leased to Walgreens until 2027. Walgreens subleased the 14,057-square-foot second floor to Sit ‘n Sleep. The building’s 12,265-square-foot basement space is leased to Premier Dental Care Group. The sale also included a portion of the parking lot behind the property and the use of the adjacent reciprocal parking managed by the City of Pasadena.

September 14, 2018

Acquisitions Illinois Midwest Retail

Albanese Cormier Acquires 274,215 SF Retail Center in Centralia, Illinois

by Kristin Harlow September 14, 2018

CENTRALIA, ILL. — Albanese Cormier Holdings has acquired Fairview Park Plaza in Centralia in southern Illinois. The purchase price was not disclosed. The 274,215-square-foot retail center is located at 1001-1161 W. Broadway St. Anchor tenants include AMC Theaters, Big Lots, Goody’s and Schnucks. Chris LaBounty of May Real Estate represented the seller, Phillips Edison & Co. Albanese Cormier is based in Beaumont, Texas.

September 14, 2018

Acquisitions New York Northeast Office

Cushman & Wakefield, Rudder Property Group Negotiate $9.5M Sale of Office Property in Hudson Yards

by David Cohen September 13, 2018

NEW YORK CITY — Cushman & Wakefield and Rudder Property Group have negotiated the $9.5 million sale of an 11,750-square-foot office cooperative in Manhattan’s Hudson Yards neighborhood. Located at 450 West 31st St., the property includes the entire 12th floor of the building as well as the penthouse. The cooperative also includes a 4,750-square-foot private terrace and a basement storage area. Carri Lyon of Cushman & Wakefield, along with Michael Rudder and Michael Heller of Rudder Property Group, represented the seller, Studio 450. Todd Korren of Avison Young represented the buyer, Melkonian Capital Management.

September 13, 2018

Acquisitions Georgia Multifamily Southeast

American Realty Advisors Acquires High-Rise Apartment Community in Midtown Atlanta

by Camren Skelton September 13, 2018

ATLANTA — American Realty Advisors (ARA) has acquired Azure on the Park, a 329-unit, high-rise apartment community located at 1020 Piedmont Ave. N.E. in Atlanta’s Midtown district. The community overlooks the 189-acre Piedmont Park and is surrounded by more than 150 restaurants, art exhibitions and retail. Community amenities include a fitness center with a yoga and spin studio, rooftop pool, rooftop movie theater, sky club with billiards, bocce ball court, dog spa, dog park and a Starbucks Coffee bar. In addition, an overlook on the 22nd floor features an outdoor kitchen and grilling stations. Kris Mikkelsen of Walker & Dunlop arranged the transaction on behalf of the seller. Other terms of the deal were not disclosed.

September 13, 2018

Acquisitions Florida Office Southeast

NKF Capital Markets Brokers $12M Sale of AT&T-Leased Office Building in Broward County

by Camren Skelton September 13, 2018

PLANTATION, FLA. — NKF Capital Markets has brokered the $12 million sale of a 130,549-square-foot office building located at 8601 W. Sunrise Blvd. in Plantation, a city in Broward County. Michael Lapointe and Michael Lohmann of NKF, along with Brian Bartlett and John Richardson of Newmark Phoenix Realty Group, arranged the transaction on behalf of the seller, FT-Florida Property LLC. Fifteen Group Capital LLC acquired the asset, which is home to an AT&T training center. AT&T has been the only occupant at the property since it was developed in 1985, according to NKF.

September 13, 2018

Acquisitions Multifamily Student Housing Texas

FourPoint Brokers Sale of 480-Bed Student Housing Community in San Angelo, Texas

by Taylor Williams September 13, 2018

SAN ANGELO, TEXAS — Austin-based FourPoint Student Housing Investments has brokered the sale of Angelo Place, a 480-bed student housing community located adjacent to Angelo State University in San Angelo, roughly midway between Lubbock and San Antonio. Built in 2007, the 120-unit property features amenities such as a pool, fitness center, clubhouse and a full-sized basketball court. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint led the sales effort on behalf of the seller, Atlas Real Estate Partners. The buyer was not disclosed.

September 13, 2018

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