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TSCG Arranges $6M Sale of Shopping Center in Central Florida

by Camren Skelton April 2, 2018

WINTER HAVEN, FLA. — The Shopping Center Group (TSCG) has arranged the $6 million sale of Chain O’Lakes Plaza, a 91,160-square-foot shopping center located at the intersection of U.S. Highway 17 and Avenue O S.W. in Winter Haven, a city in Central Florida roughly 45 miles south of Orlando. Anthony Blanco, Lenard Williams, Mallory Silva and Tyler Freeman of TSCG arranged the transaction on behalf of the seller, an affiliate of Kimco Realty Corp. An undisclosed, Tampa-based investor acquired the asset. At the time of sale, the property was 97 percent leased to tenants such as Big Lots, Family Dollar, Jo-Ann Fabrics, Rainbow Shops and Dunkin’ Donuts/Baskin Robbins. Save-A-Lot shadow-anchors the center, which also includes a one-acre, undeveloped outparcel along U.S. Highway 17.

April 2, 2018

Acquisitions Georgia Multifamily Southeast Student Housing

Waypoint Acquires 194-Bed Student Housing Community Near Mercer University in Macon, Georgia

by Camren Skelton April 2, 2018

MACON, GA. — Waypoint Residential has acquired The Lofts at College Hill, a 194-bed student housing community located one mile from Mercer University in Macon. Other terms of the transaction were not disclosed. The community was built in 2015 and is currently the only off-campus, purpose-built student housing property that serves the university. The Lofts at College Hill features a billiards room, grilling patio, rooftop terrace, fitness center, yoga studio and a coffee bar. In addition, the community features 12,000 square feet of ground-floor retail. The transaction marks Waypoint’s 13th student hosing acquisition since entering the sector in 2016.

April 2, 2018

Acquisitions Michigan Midwest Multifamily

Franklin Property Acquires 43-Unit Multifamily Property in Sterling Heights, Michigan

by Kristin Harlow April 2, 2018

STERLING HEIGHTS, MICH. — Franklin Property Corp., in partnership with Cranbrook Investment Partners LLC, has acquired Plumbrook Greens Townhouses in Sterling Heights for an undisclosed price. The property features 43 townhouse rental units with private garages and basements. Franklin plans to make minor improvements to the property over the next several months. Citi Real Estate Funding provided mortgage financing for the transaction. Franklin acquired the asset directly from the original developer’s family.

April 2, 2018

California Multifamily Seniors Housing Western

Blueprint Arranges $19M Sale of 110-Unit Seniors Housing Community in Sonoma County

by Nellie Day April 2, 2018

HEALDSBURG, CALIF. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Healdsburg Senior Living Community, a 110-unit assisted living, memory care and skilled nursing campus in the Sonoma County city of Healdsburg. Sitting on approximately seven acres, the community features 40 assisted living units, 32 memory care beds and 38 skilled nursing beds. A global private real estate investment firm with a large national seniors housing portfolio acquired the property for $19 million, or $173,000 per bed. The seller was not disclosed, though the property is featured on Pacifica Senior Living’s website. Mario Wilson and Christopher Hyldahl of Blueprint led the transaction.

April 2, 2018

California Multifamily Student Housing Western

Partnership Forms Arrowroot Real Estate, Acquires First Multifamily Asset

by Nellie Day April 2, 2018

LOS ANGELES — A partnership between D & B Capital Partners, Arrowroot Family Office and ARB Investments has formed Arrowroot Real Estate, a new entity which will invest in modernizing and rebranding well located, Class B multifamily and student housing properties. Arrowroot Real Estate is led by Brennen Degner and Adam Barzilay, former executives of MJW Investments, as well as Devin Antin, co-founder of D & B Capital Partners. The team recently closed on its first multifamily acquisition, 11415 Venice Blvd in Los Angeles. Arrowroot targets total acquisitions in excess of $200 million over the next 18 to 24 months.

April 2, 2018

Acquisitions Industrial Midwest Wisconsin

Cushman & Wakefield | Boerke Arranges Sale of 35,266 SF Industrial Building Near Milwaukee

by Kristin Harlow March 30, 2018

WEST ALLIS, WIS. — Cushman & Wakefield | Boerke has arranged the sale of the Atlas Pipe Threading Co. building in West Allis, six miles west of Milwaukee. The sales price was not disclosed. The 35,266-square-foot industrial property is located at 11133 W. Rogers St. Dave Ferron and Kristian Sydow of Cushman & Wakefield | Boerke brokered the sale on behalf of the buyer, Composite Drivelines LLC, and the seller, Atlas Pipe Threading Co., a pipe supplier that closed its business over a year ago.

March 30, 2018

Acquisitions Colorado Office Restaurant Retail Western

M&J Wilkow, MetLife Buy 1.7 MSF Shopping Center in Metro Denver

by Amy Works March 30, 2018

AURORA, COLO. — M&J Wilkow Ltd., along with MetLife Investment Management, has acquired The Southlands, a retail center located in southeast Aurora. Developed in 2005, the 1.7 million-square-foot complex features retail and office space. Tenants include AMC Theatres, Dick’s Sporting Goods, H&M, Bed Bath & Beyond, Barnes and Noble, Ross Dress for Less, Ulta Beauty and Best Buy. Additionally, the center consists of a traditional power center component, an open-air lifestyle component (known as the Town Center) with fashion, food and entertainment and office space totaling more than 917,000 square feet. Southlands is the third retail center co-owned by M&J Wilkow and MetLife. The name of the seller and acquisition price were not released.

March 30, 2018

Acquisitions California Healthcare Office Western

Commercial Asset Group Brokers $13.7M Sale of Medical Office Building in Mission Hills, California

by Amy Works March 30, 2018

MISSION HILLS, CALIF. — Commercial Asset Group has arranged the acquisition of a medical office building located at 11155-11166 Sepulveda Blvd. in Mission Hills. Porter Ranch, Calif.-based San Fernando Professional Building sold the property to a Burbank, Calif.-based family investment group for $13.7 million. Facey Medical Group, a division of Providence Hospitals, occupies the 33,438-square-foot building. David Aschkenasy of Commercial Asset Group represented the buyer, while Mark Oliver of Realty Executives Valencia represented the seller in the deal.

March 30, 2018

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Negotiates $3.1M Acquisition of Industrial Building in Lompoc, California

by Amy Works March 30, 2018

LOMPOC, CALIF. — Lee & Associates has arranged the purchase of a two-story industrial building located at 1641 W. Central Ave. in Lompoc. An undisclosed buyer acquired the property for $3.1 million. The 56,560-square-foot property features a 300-seat auditorium, large banquet hall, kitchen space and office space, as well as 30,000 square feet of manufacturing and distribution space with three loading docks, six roll-up doors and 100 spaces available for parking. Paul Davies of Lee & Associates represented the buyer in the deal.

March 30, 2018

Acquisitions Florida Property Type Retail Southeast

GBT Realty Acquires 243,000 SF Shopping Center in Tallahassee for $25.5M

by Camren Skelton March 30, 2018

TALLAHASSEE, FLA. — GBT Realty Corp. has acquired Governor’s Marketplace, a 243,000-square-foot shopping center located on Governor’s Square Boulevard in Tallahassee, for $25.5 million. Bill Fishel and Matthew Stewart of HFF arranged acquisition financing through MidCap Financial on behalf of GBT Realty, which acquired the property from Retail Properties of America Inc. (RPAI). Governor’s Marketplace was 97 percent leased at the time of sale to tenants such as Carter’s, Five Below, Marshall’s, Michaels, Bed Bath & Beyond, Old Navy, Ulta Beauty, Petco and David’s Bridal. The center’s newest tenant is Urban Air, a family entertainment center with an indoor trampoline park that backfilled a former Sports Authority.

March 30, 2018

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