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Marcus & Millichap Brokers Sale of 327,136 SF Industrial Building in Sebastian, Florida

by John Nelson November 11, 2022

SEBASTIAN, FLA. — Marcus & Millichap has arranged the sale of The Liberty Building, a 327,136-square-foot industrial building located in Sebastian. In addition to industrial and office space, the property features a cafeteria and food preparation area, vending areas, a gymnasium, exercise rooms and employee restrooms and showers. Alex Zylberglait and Michael Crocchiola of Marcus & Millichap represented the seller, Hammond Development Group, in the $6.9 million transaction. Zylberglait and Crocchiola also procured and represented the buyer, TLC Land Holdings.

November 11, 2022

Acquisitions Alabama Retail Southeast

Last Mile Purchases 49,821 SF Retail Center in Huntsville

by John Nelson November 11, 2022

HUNTSVILLE, ALA. —Last Mile Investments has purchased Whitesburg Center, a 49,821-square-foot shopping center located at 5000 Whitesburg Drive in Huntsville. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represent the seller, Baker Storey McDonald Properties, in the transaction. The sales price was not disclosed. Built in 1990 and renovated in 2002, the center is leased to tenants including Dollar Tree, Hollywood Feed, Edible Arrangements, Baskin Robbins, Buff City Soap and Papa Murphy’s.

November 11, 2022

Acquisitions Life Sciences Texas

Oldham Goodwin Sells 175,752 SF Life Sciences Facility in College Station, Texas

by Taylor Williams November 11, 2022

COLLEGE STATION, TEXAS — Oldham Goodwin has sold the Westinghouse Building at Providence Park, a 175,752-square-foot life sciences facility in College Station. Oldham Goodwin acquired the facility, which was originally built in 1983 as a manufacturing plant for Westinghouse Electronic Systems Group, in 2016. At that point, the facility had been shuttered since 1999. Dallas-based Big Sky Medical Real Estate purchased the asset for an undisclosed price.

November 11, 2022

Acquisitions Arizona Office Western

Next Gen Black Canyon Sells Multi-Tenant Office Building in Phoenix for $11.2M

by Amy Works November 11, 2022

PHOENIX — Next Gen Black Canyon LLC has completed the disposition of Black Canyon Commerce Center – Building A, a multi-tenant office property in Phoenix. Washington-based Evergreen Associates acquired the asset for $11.2 million. Located at 2101 W. Peoria Ave., the single-story building features 62,771 square feet of office space. At the time of sale, the property was fully leased to two tenants. Building A was originally built in 1999. Eric Wichterman and Mike Coover of Cushman & Wakefield’s Private Capital team in Phoenix represented the seller in the deal.

November 11, 2022

Acquisitions Multifamily Nevada Western

Cottonwood Group Buys Two Apartment Communities in Las Vegas for $122.5M

by Amy Works November 10, 2022

LAS VEGAS — Cottonwood Group has purchased Summit on Nellis (formerly The Boulevard) and The Quinn, two apartment communities in Las Vegas, for $64 million and $58.5 million, respectively. The acquisition marks Cottonwood’s entry into the Las Vegas multifamily market. The Summit on Nellis, located at 3050 S. Nellis Blvd., features 296 units, and The Quinn, at 5500 S. Mountain Vista St., offers 237 units. For both transactions, Cottonwood partnered with experienced operators and contributed the majority of the equity. This year, Cottonwood has invested in six multifamily properties, including these two in Las Vegas.

November 10, 2022

Development Multifamily Texas

Legend Communities Breaks Ground on 360-Unit Residential Project in Lakeway, Texas

by Taylor Williams November 9, 2022

LAKEWAY, TEXAS — Locally based developer Legend Communities has broken ground on a 360-unit residential project in Lakeway, located northwest of Austin, that will comprise 210 age-restricted multifamily units and 150 single-family homes of various styles. The project, which will also deliver multiple pieces of new infrastructure, represents Phase I of The Square at Lohmans, a $500 million development that will include office, hospitality and retail/restaurant uses. DTJ Design provided architectural services for the project, with Carlson, Brigance & Doering Inc. serving as civil engineer. Completion of Phase I is slated for late fall 2023.

November 9, 2022

Acquisitions Industrial Texas

CBRE Arranges Sale of 153,000 SF Industrial Portfolio Near San Antonio

by Taylor Williams November 9, 2022

SCHERTZ, TEXAS — CBRE has arranged the sale of a 153,000-square-foot industrial portfolio in the northeastern San Antonio suburb of Schertz. The portfolio consists of two properties spanning 41,000 and 112,000 square feet that were respectively built in 2006 and 2017 and were fully leased at the time of sale. Eliza Bachhuber, Randy Baird, Ryan Thornton, Jonathan Bryan and Nathan Wynne of CBRE represented the seller, Marbella Interests, in the transaction. The buyer and sales price were not disclosed.

November 9, 2022

Acquisitions Georgia Retail Southeast

Marcus & Millichap Arranges $25.5M Sale of Dollar General Portfolio Across Six States

by John Nelson November 9, 2022

ATLANTA — Marcus & Millichap’s Taylor McMinn Retail Group has arranged the sale of a Dollar General portfolio comprising 14 stores located in six states. Don McMinn of Marcus & Millichap based in Atlanta brokered the $25.5 million transaction. All 14 stores were constructed this year and are subject to 15-year triple net leases. An undisclosed developer sold the properties to an undisclosed, institutional retail owner. Of the sale, McMinn comments that there is an “increased institutional interest for net lease portfolios due to their attractive returns caused by a surplus of inventory and rising interest rates.”

November 9, 2022

Acquisitions North Carolina Retail Southeast

JLL Brokers Sale of 102,539 SF Emerald Plantation Shopping Center in Coastal North Carolina

by John Nelson November 9, 2022

EMERALD ISLE, N.C. — JLL has arranged the sale of Emerald Plantation Shopping Center, a 102,539-square-foot retail center located in Emerald Isle on the coast of North Carolina. Tom Kolarczyk of JLL represented the seller, Cameron Street Partners, in the $12 million transaction. Charlie Barzola of Eastern Commercial represented the unnamed buyer. The shopping center, which is anchored by a Food Lion, was 100 percent leased at the time of sale to tenants including Michelangelo’s Pizza, Shark’s Den Bar and Grill, Rucker John’s and Elly’s.

November 9, 2022

Acquisitions New Hampshire Northeast Retail

Atlantic Capital Partners Arranges Sale of 233,008 SF Former Sears Building in Salem, New Hampshire

by Taylor Williams November 9, 2022

SALEM, N.H. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a 233,008-square-foot retail building formerly occupied by Sears in Salem, located in the southeastern part of the Granite State. The building is situated within the 1 million-square-foot Rockingham Park Mall and currently houses a Cinemark Theatres and a Dick’s Sporting Goods, which have backfilled 53 percent of the space. Justin Smith, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the seller in the transaction. Additional terms of sale were not disclosed.

November 9, 2022

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