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Colliers Brokers Sale of 66,516 SF Retail Center in Metro Phoenix

by Amy Works September 13, 2018

SURPRISE, ARIZ. — Colliers International has arranged the sale of Greenway Crossings, a lifestyle retail center located at 16572-16630 W. Greenway Road in Surprise. Cedar Rapids, Iowa-based Transamerica Life Insurance Co. (Aegon USA Realty Advisors) sold the property to Phoenix-based Rose Garden III PL for an undisclosed price. Mindy Korth, Kirk Kuller and John Jackson of Colliers represented the seller, while Jim Edwards of Scottsdale-based Rein and Grossoehme Commercial Real Estate represented the buyer in the transaction. Built in 2006, the property features 66,516 square feet of retail space. The sale included three retail buildings and three undeveloped retail parcels. At the time of sale, the property was 85 percent leased.

September 13, 2018

Acquisitions Midwest Multifamily Ohio Seniors Housing

SLIB Negotiates $2M Sale of Skilled Nursing Community in Fremont, Ohio

by Kristin Harlow September 12, 2018

FREMONT, OHIO — Senior Living Investment Brokerage has negotiated the sale of Pristine Senior Living and Post-Acute Care of Fremont, an 82-bed skilled nursing facility, for $2 million. The three-story community is located in Fremont, approximately 40 miles southeast of Toledo. Constructed in 1965 and expanded in 1989, the 73,515-square-foot property sits on 6.8 acres. The seller was Sandusky County, which previously leased the community to Pristine Senior Living. The lease term ended and Pristine exited the Ohio market. The buyer was a New-Jersey based company with 11 other communities in Ohio. The transaction was positioned as a value-add play, as the community’s occupancy was below 50 percent at the time of sale. The new owner plans to make capital improvements to the building. The price equates to a price per bed of $24,390 and a capitalization rate of 7.04 percent.

September 12, 2018

Acquisitions Industrial Texas

NAI Partners Negotiates Sale of 125,000 SF Industrial Property in Houston

by Taylor Williams September 12, 2018

HOUSTON — NAI Partners has negotiated the sale of a 125,000-square-foot industrial property located at 8203 Market St. in Houston. According to LoopNet Inc., the property was built in 1985 and is zoned for manufacturing. John Ferruzzo and Clay Pritchett of NAI Partners represented the seller, 8203 Market Street Road LLC, in the transaction. Matthew Goldsby of Belvoir Real Estate Group represented the buyer, 8203 MSR Properties LLC.

September 12, 2018

Acquisitions Florida Multifamily Southeast

Vista Realty Sells Apartment Community in Metro Atlanta to Hudson Capital for $49M

by Camren Skelton September 12, 2018

SANDY SPRINGS, FLA. — Vista Realty Partners has sold Northridge Vista Apartments, a 220-unit multifamily community located in Sandy Springs, roughly 20 miles north of downtown Atlanta. Hudson Capital Partners acquired the asset for $49 million. Northridge Vista includes a mix of one- and two-bedroom units ranging in size from 710 square feet to 1,438 square feet. Monthly rental rates start at $1,293 for a one-bedroom unit, and go up to $1,900 for a two-bedroom unit, according to Apartments.com. Community amenities include a business center, coffee bar, Zen garden, grill/picnic area, pet play area, fitness center and a resort-style pool. Northridge Vista is located less than five miles from the new Mercedes-Benz U.S headquarters, which opened in March.

September 12, 2018

Acquisitions California Retail Western

DealPoint Merrill Negotiates Sale of 109,098 SF Shopping Center in Northern California

by Amy Works September 12, 2018

SACRAMENTO, CALIF. — DealPoint Merrill has arranged the sale of Elverta Crossing I, a shopping center located adjacent to Antelope Greens Golf Course in Sacramento’s Antelope submarket. Situated on 9.8 acres, the property features 109,098 square feet of retail space. David Frank of DealPoint negotiated the transaction, while Sterling McGregor, also of DealPoint, handled the due diligence for the sale. The acquisition was completed by DealPoint’s Jason Limbert. The buyer and seller were not disclosed.

September 12, 2018

Acquisitions California Office Western

Hines Sells 345,775 SF Office Portfolio in Sacramento

by Amy Works September 12, 2018

SACRAMENTO, CALIF. — Hines has completed the sale of Point West, a three-building office portfolio located in Sacramento. Basin Street Properties acquired the asset for an undisclosed price. Totaling 345,775 square feet, the properties are located at 1545 River Park Drive, 1601 Response Road and 1610 Arden Way. At the time of sale, the portfolio was 78 percent occupied by a diverse tenant base, including UBS, GSA, WestAmerica Bank and Covered CA. Grant Lammersen, Steve Golubchik, Edmund Najera and Tyler Meyerdirk of NKF Capital Markets represented the seller in the deal.

September 12, 2018

Acquisitions California Retail Western

Chelsea Pacific Group Acquires Marin Square Mixed-Use Property in San Rafael, California

by Amy Works September 12, 2018

SAN RAFAEL, CALIF. — Chelsea Pacific Group has purchased Marin Square, a retail, office and commercial property located at 75 Bellam Blvd. in San Rafael. Tiburon, Calif.-based Sutter Health sold the property for an undisclosed price. Situated on 11.3 acres, Marin Square was developed in 1984 as a neighborhood shopping center. The property was later expanded to include an office and multi-tenant commercial component. Dan Wald, Don LeBuhn and Trevor Buck of Cushman & Wakefield represented the seller, while the buyer was self-represented in the transaction.

September 12, 2018

Acquisitions Hospitality Maryland Southeast

HREC Brokers Sale of 152-Room, Hilton-Branded Hotel in Metro Baltimore

by Camren Skelton September 12, 2018

COLUMBIA, MD. — HREC Investment Advisors has arranged the sale of the 152-room DoubleTree by Hilton Hotel Columbia in downtown Columbia, roughly 19 miles southwest of Baltimore. A joint venture between LTD Hospitality Group and Sefira Capital acquired the asset for an undisclosed price. Ketan Patel and Kevin Kanley of HREC arranged the transaction on behalf of the seller, RLJ Lodging Trust. The hotel features meeting space, a fitness center, heated indoor pool and an onsite restaurant and bar.

September 12, 2018

Acquisitions Massachusetts Multifamily Northeast

Yannios RE Brokers $3.5M Sale of Apartment Community Near Boston

by David Cohen September 11, 2018

HAVERHILL, MASS. — Yannios RE Investment Sales has brokered the sale of Highland Maple Apartments, a 39-unit apartment community in Haverhill. Haverhill is located 35 miles north of Boston. Built in 1850, the masonry-style property includes two, three-story buildings. Yannios RE Investment Sales represented the seller, who was undisclosed. The buyer was also undisclosed.

September 11, 2018

Acquisitions California Industrial Office Western

Majestic Asset Management Buys 124,754 SF Flex Asset Near Santa Barbara for $16.5M

by Amy Works September 11, 2018

GOLETA, CALIF. — Majestic Asset Management has acquired a flex industrial/office park, located at 839-879 Ward Drive in Goleta, for $16.5 million. The buyer plans to improve and reposition the 124,754-square-foot asset to improve the warehouse, R&D and office space. Consisting of three buildings situated on 5.6 acres, the property was vacated in 2016 by Channel Industries, which had occupied the site since its original construction in the 1960s. Recent leases by Gavial Holdings, Sonatech and Reaction35 have backfilled a portion of the property, with approximately half of the rentable space remaining vacant. Francois DeJohn, Steve Hayes and Liam Murphy of Hayes Commercial represented the undisclosed seller and buyer in the deal.

September 11, 2018

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