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Pacific Urban Residential Buys 314-Unit Multifamily Community in Vista, California

by Amy Works June 13, 2018

VISTA, CALIF. — Pacific Urban Residential has acquired Monarch at Shadowridge, an institutional-quality residential community in Vista, for an undisclosed price. Built in 2005, Monarch at Shadowridge features 314 apartments spread across 29 buildings, a clubhouse and a saltwater pool on more than 21 acres. On-site amenities include a 19-seat movie theatre, outdoor barbecue areas, private cabanas, a community kitchen and dining room, coffee lounge, game room, fitness center and yoga room. Darcy Miramontes, Kip Malo, David Young, Jeff Price and John Cunningham of JLL represented the undisclosed seller in the deal.

June 13, 2018

501-Deep-Valley-Dr-Palos-Verdes-Peninsula-CA

Acquisitions California Healthcare Office Western

NKF Capital Markets Brokers $12.7M Sale of Medical Office Building in Metro Los Angeles

by Amy Works June 13, 2018

PALOS VERDES PENINSULA, CALIF. — NKF Capital Markets has facilitated the sale of a medical office building located at 501 Deep Valley Drive in Palos Verdes Peninsula, a city within the South Bay submarket of Los Angeles County. Deep Valley Drive LLC sold the property to Beverly Hills, Calif.-based Dayani Partners for $12.7 million. UCLA Health occupies 77 percent of the four-story, 33,770-square-foot building. Sean Fulp, Ken White, Michael Moore and Kevin Shannon of NKF Capital Markets represented the seller, while the buyer was self-represented in the transaction.

June 13, 2018

Acquisitions California Office Western

Hunter Street Partners, Mana Investments Purchase 78,747 SF Vacant Office Complex in California

by Amy Works June 13, 2018

LIVERMORE, CALIF. — Minneapolis-based Hunter Street Partners, in partnership with California-based Mana Investments, has completed the acquisition of Sunset Office Plaza in Livermore for an undisclosed price. Situated on 13.5 acres, the asset features 10 single-story office buildings totaling 78,747 square feet of office space. The property was vacant at the time of acquisition. The name of the seller was not released.

June 13, 2018

Acquisitions Arizona Office Western

Biltmore RE Acquires Office Building in Phoenix for $3.1M

by Amy Works June 13, 2018

PHOENIX — Biltmore RE, a net-leased investment group, has purchased an office building located at 2701 E. Camelback Road in Phoenix, for $3.1 million. The sale was an absolute triple-net leaseback to the seller, Arciterra Cos., a real estate investment and development company. The property features 8,501 square feet of Class A office space. Jenette Bennett of Kidder Mathews represented the buyer in the transaction.

June 13, 2018

Acquisitions Maryland Office Southeast

Finmarc Purchases Two-Building Office/Flex Portfolio in Maryland’s Howard County for $10.9M

by Camren Skelton June 13, 2018

COLUMBIA, MD. — Finmarc Management Inc. has acquired a two-building office/flex portfolio in Columbia for $10.9 million. The sold portfolio includes a single-story, 49,000-square-foot flex building at 9151 Rumsey Road and a single-story, 61,000-square-foot flex/office building at 9130 Red Branch Road. Jay Wellschlager of JLL arranged the transaction on behalf of the seller, Greenfield Partners. The portfolio was 90 percent leased at the time of sale. With this acquisition, Finmarc currently owns and manages more than 100 commercial office, flex, industrial and retail properties in the Mid-Atlantic area, as well as several residential projects. The company’s assets total just under 6 million square feet of space.

June 13, 2018

Acquisitions Illinois Industrial Midwest

Binswanger Brokers Sale of 1 MSF Distribution Center in Marion, Illinois

by Kristin Harlow June 13, 2018

MARION, ILL. — Binswanger has brokered the sale of a 1 million-square-foot distribution center in Marion in southern Illinois. The sales price was not disclosed. The Class A facility is located on 72 acres at 1100 Glen Clarida Drive. The building, originally constructed in 1999, underwent an expansion in 2004 and a renovation in 2013. Clear heights range from 32 to 37 feet. Zach Binswanger of Binswanger represented the seller in the transaction. Neither the buyer nor the seller was disclosed.

June 13, 2018

Acquisitions Midwest Missouri Multifamily

City Club Apartments Sells 401-Unit Asset in St. Louis, Plans Development in Cleveland

by Kristin Harlow June 12, 2018

ST. LOUIS — City Club Apartments has sold the 401-unit Central West End City Club Apartments in St. Louis, marking the company’s exit from the market. The sales price was not disclosed. City Club Apartments says that it has sold the community to focus on development in Cleveland and other Midwest and East Coast markets. This year, City Club Apartments has broken ground on communities in Detroit, Minneapolis and Cincinnati. All of the communities will feature retail space. “We have a responsibility to our investors, lenders and partners to perform at the highest level and we are reallocating our financial and human capital to several accelerating markets, including Cleveland,” says Jonathan Holtzman, CEO of City Club Apartments.

June 12, 2018

Acquisitions Office Southeast Virginia

Velocis, Altus Realty Acquire 505,085 SF Office Complex in Metro D.C.

by Camren Skelton June 12, 2018

TYSONS, VA. — Velocis, in partnership with Altus Realty, has acquired Greensboro Park, a two-building, 505,085-square-foot office complex located at 8180 and 8200 Greensboro Drive in Tysons, roughly 16 miles west of Washington, D.C. CBRE arranged the transaction on behalf of the seller, an affiliate of Beacon Capital Partners LLC. The sales price was not disclosed. Greensboro Park includes one 11-story and one 14-story building, which were collectively 83 percent leased at the time of sale. Amenities include a fitness center, conference center, tenant lounge and an on-site café. Located within walking distance to the Greensboro Metro Station and Tysons Galleria, the property is situated adjacent to The Boro, a mixed-use development. The previous ownership renovated Greensboro Park in 2015, and Velocis and Altus plan to further renovate the building’s lobbies, common areas, restrooms and green space. JLL will manage the property.

June 12, 2018

Acquisitions Florida Office Southeast

HFF Arranges $23.7M Sale of Five-Story Office Building in South Florida

by Camren Skelton June 12, 2018

BOCA RATON, FLA. — HFF has arranged the $23.7 million sale of 900 Broken Sound Parkway, a 115,986-square-foot office building in Boca Raton. The property is located within The Park at Broken Sound, a 700-acre mixed-use community. Hermen Rodriguez, Ike Ojala and Tracey Goo of HFF arranged the transaction on behalf of the seller, a partnership between Mainstreet Capital Partners and an investment fund managed by The Davis Cos. HFF also procured the buyer, a partnership between local investors and a national investment fund. Originally constructed in 1989, the five-story building was renovated in 2015 and was 79.4 percent leased at the time of sale to tenants including CSL Plasma and Geosyntec. NAI Merin Hunter Codman will manage the property and handle the building’s leasing assignment.

June 12, 2018

Acquisitions Nevada Retail Western

Colliers Arranges $5.3M Acquisition of Retail Property in Las Vegas

by Amy Works June 12, 2018

LAS VEGAS — Colliers International – Las Vegas has brokered the purchase of a retail property located at 6825 W. Russell Road in Las Vegas. Daniel and Cathy Pereyra purchased the property from an undisclosed seller for $5.3 million. The property features 23,596 square feet of retail space. Dan Gluhaich of Colliers represented the buyer in the transaction.

June 12, 2018

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