sale2

JLL Brokers Sale of Two Industrial Buildings in San Diego Business Park

by Amy Works July 3, 2018

SAN DIEGO — JLL has arranged the sale of two light industrial buildings located within Scripps Ranch Business park in San Diego. Carroll Canyon Properties acquired the properties, located at 9965 Carroll Canyon Road and 9850 Businesspark Ave., from Hill Properties for an undisclosed price in an off-market transaction. At the time of sale, the buildings were fully leased to Kone and Foresight Sports. The two-building asset consists of 27,801 square feet on a 2.1-acre corner lot. Sach Kirpalani, Bob Prendergast and Lynn LaChapelle of JLL represented the seller in the deal.

July 3, 2018

Acquisitions Alabama Industrial Southeast

Monmouth Purchases Amazon-Leased Industrial Building Near Mobile for $33.7M

by Camren Skelton July 2, 2018

THEODORE, ALA. — Monmouth Real Estate Investment Corp. has acquired a newly constructed industrial building located at 6735 Trippel Road in Theodore, roughly 15 miles southwest of Mobile, for $33.7 million. The 362,942-square-foot facility, which opened in the second half of 2017, is net-leased to Amazon Fulfillment Service Inc. for 11 years. Johnson Development Associates Inc. developed the facility in partnership with Amazon. The property is situated on 31.3 acres, roughly 14 miles from the Port of Mobile. The acquisition marks Monmouth’s second property leased to Amazon.

July 2, 2018

Acquisitions Georgia Hospitality Southeast

Apple Hospitality Acquires Hampton Inn & Suites in Metro Atlanta for $29.5M

by Camren Skelton July 2, 2018

DUNWOODY, GA. — Apple Hospitality REIT Inc. has acquired the 132-room Hampton Inn & Suites by Hilton Atlanta Perimeter Dunwoody for $29.5 million, or roughly $223,000 per room. The hotel, which opened in 2016, is located at 4565 Ashford Dunwoody Road, roughly 15 miles north of downtown Atlanta in the city’s Central Perimeter submarket. The name of the seller was not disclosed. The hotel features a business center, meeting rooms, fitness center and a pool. Following the acquisition, Apple Hospitality’s portfolio spans 243 hotels across 34 states.

July 2, 2018

Acquisitions Florida Retail Southeast

ShopOne Acquires Publix-Anchored Shopping Center Near Daytona Beach for $21.9M

by Camren Skelton July 2, 2018

ORMOND BEACH, FLA. — ShopOne Centers REIT Inc. has acquired The Trails Shopping Center, a 135,286-square-foot shopping center located at 282 N. Nova Road in Ormond Beach, a city on Florida’s east coast near Daytona Beach. Sabal Financial Group LP – Slate Trails Holdings LLC sold the asset for $21.9 million. Richard Chichester, Donald MacLellan and Shaun Riley of Faris Lee Investments arranged the transaction on behalf of ShopOne. Originally constructed in 1978, The Trails Shopping Center underwent a major renovation in 2017. A 36,866-square-foot Publix anchors the property, which was 77 percent leased at the time of sale. Additional tenants include Talbot’s, Chico’s, LOFT, Dairy Queen, Anytime Fitness, Jos. A. Bank, White House-Black Market, BurgerIM and Supercuts.

July 2, 2018

Acquisitions Florida Retail Southeast

NKF Capital Markets Arranges $18.3M Sale of Shopping Center, Outparcel in North Florida

by Camren Skelton July 2, 2018

LAKE CITY, FLA. — NKF Capital Markets has arranged the $18.3 million sale of Gleason Place, a 129,000-square-foot shopping center located at 275 Hutton Place N.W. in Lake City, a city in North Florida. The sale included the shopping center and a 1.3-acre land outparcel. Drew Fleming and Mark Joines of NKF Capital Markets represented the seller, Hutton, in the transaction. North Lauderdale Associates acquired the property. Constructed in 2017, Gleason Place was fully leased at the time of sale to tenants such as Hobby Lobby, Ross Dress for Less and Dick’s Sporting Goods. The center is located adjacent to a Publix-anchored center and the recently renovated Lake City Mall.

July 2, 2018

Acquisitions Multifamily Texas

American Landmark Acquires 334-Unit Apartment Community in Metro Fort Worth

by Taylor Williams July 2, 2018

MANSFIELD, TEXAS — Multifamily owner-operator American Landmark has acquired Advenir at Mansfield, a 334-unit apartment community located in the southern Fort Worth metro of Mansfield. Built in 2010, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling areas, business center and a dog park. Mitch Sinberg, Matt Robbins, Bob Falese and Matt Cullison of Berkadia arranged a $32.9 million Freddie Mac green loan, which features 4.16 percent interest and 70 percent loan-to-value, for the acquisition. The new ownership will implement a capital improvement program valued at approximately $1.5 million.

July 2, 2018

Acquisitions California Retail Western

Hanley Investment Group, Voit Real Estate Services Negotiate $9.8M Sale of Shopping Plaza in Southern California

by Amy Works July 2, 2018

RANCHO CUCAMONGA, CALIF. — Hanley Investment Group Real Estate Advisors, in conjunction with Voit Real Estate Services, has arranged the $9.8 million sale of RC Plaza, a 37,239-square-foot retail center in Rancho Cucamonga, a city in San Bernardino County. Bill Asher and Ed Hanley of Hanley Investment Group, along with Joe Miller of Voit Real Estate Services, arranged the transaction on behalf of the seller, a private partnership based in Orange County. Eric Treibatch of Ophir Management Services Inc. represented the buyer, a private investor from Los Angeles. RC Plaza includes nine buildings and is home to tenants such as Starbucks Coffee and Pizza Hut. The center includes an additional 15,717-square-foot building that is separately owned and was not included in the sale.

July 2, 2018

Acquisitions Colorado Multifamily Western

Pinnacle Real Estate Brokers $6.8M Sale of Multifamily Building in Denver

by Amy Works July 2, 2018

DENVER — Pinnacle Real Estate Advisors has arranged the sale of Observatory Park, an apartment building located at 2035 S. Josephine St. in Denver. Old Faithful Properties sold the property to Michael Blackman for $6.8 million, or $316 per square foot. The 21,674-square-foot building features 40 apartment units. Kevin Calame of Pinnacle represented the seller in the transaction.

July 2, 2018

Acquisitions Healthcare Office Texas

CBRE Arranges Sale of Two Office/Medical Buildings Totaling 170,111 SF in Dallas

by Taylor Williams June 29, 2018

DALLAS — CBRE has arranged the sale of Lakewood Towers, two office/medical buildings totaling 170,111 square feet in East Dallas. The property, which includes a five-level parking garage, was recently renovated and includes a tenant lounge and a conference center. John Alvarado, Gary Carr, Robert Hill, Eric Mackey, Evan Stone and Jared Chua of CBRE represented the seller, Highland Lakewood LLC, in the sale. An affiliate of Dallas-based Caddo Holdings acquired the property for an undisclosed price. Lakewood Towers was 99 percent leased at the time of sale to tenants such as Wells Fargo, Texas Neurology and Health Texas.

June 29, 2018

Acquisitions Multifamily Washington Western

Security Properties Buys 248-Unit Multifamily Property Near Olympia for $54.5M

by Amy Works June 29, 2018

LACEY, WASH. — Security Properties, along with a university endowment, has acquired Marq on Martin, a multifamily property located at 8545 Litt Drive SE in Lacey, a suburb of Olympia. An undisclosed seller sold the property for $54.5 million. Constructed in 2017, the property consists of 248 apartment units across 10 residential buildings. Situated on 12 acres, the property features a mix of one- and two-bedroom floor plans with an average unit size of 831 square feet. With this acquisition Security Properties now owns 18 assets totaling more than 4,000 units in the Puget Sound marketplace. Security Properties Residential, an affiliate of Security Properties, will manage the property.

June 29, 2018

Newer Posts

Older Posts