BURLINGAME, CALIF. — EverWest Real Estate Investors, in partnership with Partners Group, has purchased Burlingame Bay Office Park, located at 555 and 577 Airport Blvd. in Burlingame. The acquisition price was not released. Situated on 13 acres, office park comprises a 120,681-square-foot building and 139,413-square-foot building, offering a total of 261,959 square feet. Ryan Madison provided in-house represented for EverWest in the deal. The name of the seller was not disclosed.
SAN BERNARDINO, CALIF. — Progressive Real Estate Partners has arranged the sales of two retail parcels at University Town Center in San Bernardino for a combined total of $3.8 million. Mike Lin and Maggie Gonzalez of Progressive represented the seller, a Norwalk, Calif.-based private investor, in both transactions. In the first deal, a Temecula, Calif.-based private investor acquired a single-tenant pad building, located at 4304 University Parkway, for $1.8 million. Jiffy Lube is the original lessee of the 2,173-square-foot building that was built in 2007. In the second deal, a Walnut, Calif.-based private investor purchased a multi-tenant building, located at 4414 University Parkway, for $2 million. Subway, Little Caesars and Liquid Tea Bar fully occupy the property.
LEWISVILLE, TEXAS — A partnership between New Jersey-based investment firm Lamar Cos. and Real Capital Solutions has acquired Shops at Vista Ridge and Vista Ridge Plaza, two adjacent retail centers totaling approximately 292,000 square feet in Lewisville, a northern suburb of Dallas. Retailers at the properties, which the new ownership sees as value-add investments, include Bed, Bath & Beyond, DSW, Burke’s Outlet and Pier 1 Imports. Disney Investment Group brokered the sales of the properties.
CHANDLER, ARIZ. — JLL has arranged the sale of Ocotillo Plaza, a retail building located at 2880 S. Alma School Road in Chandler’s Ocotillo area. Thompson Thrift Retail Group sold the property to Southern California-based Slater Avenue II for $11.2 million. The 121,829-square-foot building was renovated from a former Target store into a multi-tenant retail property. Current tenants include Goodwill, Shoppers Supply, and a home and outdoor supply retailer. Peter Bauman, Tivon Moffitt, Dennis Desmond and Tyson Switzenberg of JLL’s Phoenix office represented the seller, while Nina Patel represented the buyer in the deal.
JACKSON AND VICKSBURG, MISS. — Colliers International has brokered the $42.9 million sale-leaseback of two medical office buildings in Mississippi. Combining for 91,526 square feet, the two assets are triple-net leased by a single tenant, GI Associates & Endoscopy Center. The facilities include GI Associates’ headquarters facility in Jackson and its satellite office located in Vicksburg. Josh Randolph of Colliers International’s Birmingham, Ala., office represented GI Associates in the sale. The buyer was not disclosed.
SANTA FE SPRINGS, CALIF. — Realty Advisory Group has arranged the purchase of an industrial property located at 9601-9603 John St. in Santa Fe Springs. An undisclosed buyer acquired the property for $24.8 million. Situated on 7.2 acres, the 181,070-square-foot facility features 22- to 28-foot ceiling heights, 16 DH positions and future divisibility. At the time of sale, the building was fully leased to Windsor Fashions. John Repstad and Mark Repstad of Realty Advisors Group represented the buyer and undisclosed seller in the deal.
SAN DIEGO — Next Space Development Realty, a residential and multifamily development company, has purchased 25 on Fifth, an apartment complex, for $14.5 million. Located at 3265 Fifth Ave. in San Diego, the property features 25 apartment units. Mayfair initially developed the building in 2007 but lost the property to Bank of America in the 2008 recession. Pacifica Cos. provided acquisition equity for the transaction. Eric Comer, Jim Neil and Merrick Matricardi of Kidder Mathews represented the buyer in the deal.
DENVER — Eight O One LLC has purchased an industrial property located at 620 E. 52nd Ave. in Denver. TC Crossroads #7 LLC sold the property for $7.6 million. The property features 60,468 square feet of industrial space. Mike Wafer, Timothy D’Angelo and Mike Wafer Jr. of Newmark Knight Frank represented the seller in the deal.
CHARLOTTE AND DURHAM, N.C. — HFF has brokered the sale of a four-building industrial portfolio totaling 681,346 square feet in Charlotte and Durham. A joint venture between Trinity Capital Advisors and SilverCap Partners sold the buildings to Rialto Capital Management. The sales price was not disclosed, but the Charlotte Business Journal reports the portfolio sold for $39.8 million. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the sellers. In Charlotte, the sold portfolio includes a two-building facility located at 1001 Bond St. The property is less than one mile from the North Carolina State Port Authority and the CSX Intermodal Terminal, the only CSX intermodal terminal in North Carolina. The Durham buildings are located at 2710 and 2910 Weck Drive. The facilities are located within the Research Triangle Park submarket and are fully leased to two tenants.
NASHVILLE, TENN. — A partnership between Admiral Capital Group and Security Properties has purchased Hamptons at Woodland Pointe, a 240-unit multifamily community situated roughly 100 yards from Percy Priest Lake in Nashville. The seller and sales price were not disclosed. Built in 2001 by Bristol Development, the Class B, garden-style property features a mix of one-, two- and three-bedroom floorplans with an average unit size of 1,092 square feet. Security Properties will add washer and dryer appliances, stainless steel appliances, quartz or stone countertops, lower breakfast bars and modern cabinet faces to unit interiors. The Seattle-based investor and developer will also extend the pool deck to the clubhouse, as well as expand the fitness center into the theater room. Security Properties’ affiliate Security Properties Residential will manage Hamptons at Woodland Pointe.
