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Feldman Ruel Arranges $5M Sale of Mixed-Use Property in Metro D.C.

by John Nelson October 21, 2022

ALEXANDRIA, VA. — Feldman Ruel Urban Property Advisors has facilitated the sale of 901-905 King Street, a four-level mixed-use property located in Alexandria’s Old Town district. The property, which is occupied by White House Black Market at the street level, sold for $5 million. Tanner Scales, Josh Feldman and Ian Ruel of Feldman Ruel marketed 901-905 King Street on behalf of the seller, an entity doing business as A & H LLC. Windmill Hill Homes acquired the property and has plans to convert its vacant office space into 14 residential units. Retail space at the building will remain as-is.

October 21, 2022

Acquisitions Indiana Midwest Multifamily Seniors Housing

Blueprint Negotiates Sale of 148-Unit Senior Living Community in Indianapolis

by Kristin Harlow October 21, 2022

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Discovery Commons at College Park, a 148-unit independent living community in Indianapolis. A publicly traded REIT sold the asset to Elevation Financial Group, which plans to convert the community to active adult living. The sales price was not disclosed.

October 21, 2022

Acquisitions Colorado Industrial Western

Lightstone Acquires 512,000 SF Industrial Portfolio in Broomfield, Colorado for $72M

by Amy Works October 21, 2022

BROOMFIELD, COLO. — New York City-based Lightstone has purchased an 11-building, multi-tenant industrial portfolio in Broomfield for $72 million. The name of the seller was not disclosed. Known as the Commander Industrial Portfolio, the asset totals 512,000 square feet on 31 acres, with suites ranging in size from 5,000 square feet to more than 68,000 square feet. At the time of sale, the portfolio was fully leased to 17 tenants. Peter Rotchford and Mark Robot of JLL Capital Markets arranged $40 million in acquisition financing through Wintrust Financial for Lightstone. With this transaction, Lightstone’s industrial portfolio now includes more than 7.5 million square feet of space in 16 markets across the country, including Chicago, Charlotte, Dallas and Tampa.

October 21, 2022

Acquisitions Multifamily Texas

Bell Partners Acquires 234-Unit Multifamily Property in Frisco

by Taylor Williams October 20, 2022

FRISCO, TEXAS — North Carolina-based investment firm Bell Partners has acquired Residences at Starwood, a 234-unit multifamily property located north of Dallas in Frisco that was completed in 1998. According to Apartments.com, the property offers one-, two- and three-bedroom units ranging in size from 662 to 1,465 square feet. Amenities include a pool, fitness center, clubhouse and outdoor grilling and dining areas. Bell Partners acquired the asset as part of a portfolio of four multifamily properties totaling 846 units that collectively fetched a price of $313 million. The seller was not disclosed.

October 20, 2022

1821-1871-S-San-Jacinto-Ave-San-Jacinto-CA

Acquisitions California Restaurant Retail Western

Faris Lee Brokers $10.5M Sale of Two Retail Outparcel Buildings in San Jacinto, California

by Amy Works October 20, 2022

SAN JACINTO, CALIF. — Faris Lee Investments has arranged the sale two outparcel retail buildings, located at 1821-1871 S. San Jacinto Ave. in San Jacinto. A Northern California-based buyer in a 1031 exchange acquired the assets from an undisclosed seller for $10.5 million. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the seller, while Keegan & Coppin represented the buyer in the deal. The 14,883-square-foot property comprises two multi-tenant buildings. Current tenants at the properties include GameStop, Great Clips, Wing Stop, T-Mobile, a Bank of America ATM and local retailers.

October 20, 2022

Acquisitions Industrial Southeast Tennessee

Blue Vista, Westmount Realty Capital Buy 480,911 SF Shelby Oaks Industrial Park in Memphis

by John Nelson October 20, 2022

MEMPHIS, TENN. — Blue Vista Capital Management and Westmount Realty Capital have acquired Shelby Oaks Industrial Park, a 480,911-square-foot portfolio of light industrial and flex properties located in the Northeast submarket of Memphis. Situated near the interchange of I-240 and I-40, the 50-acre park spans 16 buildings and was more than 95 percent leased at the time of sale to 78 tenants across the technology, telecommunications, manufacturing, service and food-and-beverage industries. Shelby Oaks’ buildings feature distribution, warehouse, office and showroom space with a total of 76 dock-high doors and 90 grade-level doors, as well as clear heights ranging from 14 to 22 feet. The seller and sales price were not disclosed.

October 20, 2022

Acquisitions Florida Retail Southeast

Coro Realty Sells Metro Orlando Shopping Center for $23.5M

by John Nelson October 20, 2022

ALTAMONTE SPRINGS, FLA. — Atlanta-based Coro Realty Advisors has sold Wekiva Square, a 175,175-square-foot shopping center located at 945 Semoran Blvd. in Altamonte Springs, a suburb of Orlando. V3 Capital Group purchased the property for $23.5 million. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented Coro Realty in the transaction. Built in 1981 and most recently renovated this year, Wekiva Square was 99.1 percent leased at the time of sale to tenants including HomeGoods, Dollar Tree, Fancy Fruit and San Jose Mexican Restaurant. The center also includes a Kohl’s store that has a separately parceled ground lease.

October 20, 2022

Acquisitions Multifamily South Carolina Southeast

ECI Group Acquires 271-Unit Factory at Garco Park Apartments in North Charleston

by John Nelson October 20, 2022

NORTH CHARLESTON, S.C. — ECI Group has acquired The Factory at Garco Park, a 271-unit apartment community located at 4993 O’Hear Ave. in North Charleston’s Park Circle neighborhood. SouthState Bank provided an undisclosed amount of acquisition financing. Alex Okulski of Newmark represented the unnamed seller in the transaction. Atlanta-based ECI Group purchased the Factory at Garco Park for an undisclosed price in a 1031 exchange involving the recent sale of The Columns at Vinings in metro Atlanta. Built in 2017, Factory at Garco Park features studio, one-, two- and three-bedroom units, as well as a saltwater pool with cabanas, outdoor kitchen and grill area, outdoor pavilion, 24/7 fitness center, clubroom, conference room, dog park and pet spa, car washing station, Amazon Hub Lockers, boat storage, community bikes and a fire pit. The community represents ECI Group’s entry into the greater Charleston market.

October 20, 2022

Acquisitions Industrial Self-Storage Texas

JLL Negotiates Sale of 1,252-Unit Self-Storage Facility in West Dallas

by Taylor Williams October 19, 2022

DALLAS — JLL has negotiated the sale of a 1,252-unit self-storage facility located at 2500 Lone Star Drive in West Dallas. The three-story facility features 117,503 net rentable square feet of climate-controlled space and was 50 percent occupied at the time of sale. Austin-based CSW Development sold the property to Charlotte-based Madison Capital for an undisclosed price. Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL brokered the deal. The new ownership intends to rebrand the property as a Go Store It facility.

October 19, 2022

Acquisitions Industrial Texas

Fort Capital Acquires 673,679 SF Industrial Portfolio in Houston

by Taylor Williams October 19, 2022

HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a portfolio of 28 Class B industrial buildings totaling 673,679 square feet in Houston. Known as The West Houston & Gemini Portfolio, the buildings are located throughout various infill submarkets and had a collective occupancy rate of 84 percent at the time of sale. The seller and sales price were not disclosed.

October 19, 2022

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