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Lincoln Property Co. Acquires 200,000 SF Industrial Facility in Franklin, Tennessee

by John Nelson September 7, 2022

FRANKLIN, TENN. — Dallas-based Lincoln Property Co. has sold a 200,000-square-foot industrial facility located on 15.6 acres at 117 SE Parkway in Franklin, a suburb of Nashville. The asset was fully leased at the time of the sale to the undisclosed seller, which has leased back 100 percent of the space. The sales price was not disclosed. Built in 1981, the distribution facility features 18- to 22-foot clear heights, 13 docks (including one drive-in) and 73 parking spots. Patterson Real Estate Advisory Group arranged an undisclosed amount of acquisition financing through Renasant Bank.

September 7, 2022

Acquisitions North Carolina Retail Southeast

PEBB Enterprises Sells Concord Station Retail Center Near Charlotte for $15.2M

by John Nelson September 7, 2022

CONCORD, N.C. — PEBB Enterprises, a South Florida-based private equity real estate investment firm, has sold Concord Station, a 45,569-square-foot retail center located at 8591 Concord Mills Blvd. in the Charlotte suburb of Concord. The buyer, an entity doing business as South Coast Commercial LLC, purchased the center for $15.2 million. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in the transaction. Situated at the entrance of Simon’s newly renovated Concord Mills Mall, Concord Station was fully leased at the time of sale to tenants including Big Blue Swim School, McAlister’s Deli, Guitar Center, The UPS Store and Wild Birds Unlimited. The property, which offers direct access to I-85, was constructed on 6.3 acres in 2004.

September 7, 2022

Acquisitions Georgia Southeast Student Housing

Fountain Residential Partners Disposes of 241-Bed Student Housing Community Near KSU in Metro Atlanta

by John Nelson September 7, 2022

KENNESAW, GA. — Fountain Residential Partners has sold 14 SixtyFive, a 241-bed student housing community near Kennesaw State University in metro Atlanta. The development was recently completed and offers two-, three-, four- and five-bedroom, fully furnished units with bed-to-bath parity. Community amenities include study spaces on every floor, a gaming room, 24-hour fitness center, outdoor kitchen, barbecue grills, resort-style swimming pool and a study lounge. The 52-unit property is situated one mile north of campus at 1465 Shiloh Road in Kennesaw. Teddy Leatherman, Stewart Hayes and Scott Clifton of JLL represented the seller in the disposition of the property to Nuveen Real Estate. The sales price was not disclosed.

September 7, 2022

Acquisitions Arizona NAI Retail Western

NAI Horizon Arranges Sale of 30,040 SF Olive Crossing Retail Building in Glendale, Arizona

by Amy Works September 7, 2022

GLENDALE, ARIZ. — NAI Horizon has negotiated the sale of Olive Crossing, a retail building located at 9250 N. 43rd Ave. in Glendale. Arizona MSK and Garvin Holdings acquired the 30,040-square-foot property from 43rd Ave LLC for $3.9 million. Matt Harper of NAI Horizon represented the seller and buyer in the transaction.

September 7, 2022

Acquisitions Industrial Oregon Western

Norris & Stevens Brokers $2.2M Sale of Industrial Complex in Tualatin, Oregon

by Amy Works September 7, 2022

TUALATIN, ORE. — Norris & Stevens has arranged the acquisition of two industrial condominiums located at 18254-18256 SW 100th Court in Tualatin. AEB Properties purchased the properties for $2.2 million. Totaling 9,600 square feet, the two Class B condos are part of a 24,192-square-foot building situated on 1.5 acres. Built in 1986, the single-story building features two dock-high loading doors and six drive-in, grade-level doors. Scott Finney and Nick Chessar of Portland-based Norris & Stevens represented the buyer, while Jordan Truitt of First Commercial Real Estate represented the seller in the deal.

September 7, 2022

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $3.9M Sale of Retail Building in Mishawaka, Indiana

by Kristin Harlow September 6, 2022

MISHAWAKA, IND. — Marcus & Millichap has arranged the $3.9 million sale of a 6,677-square-foot retail building in Mishawaka, a city in northern Indiana. Located at 5230 N. Main St., the property is home to Mission BBQ and Crumbl Cookies. Brennan Clegg, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

September 6, 2022

Acquisitions Affordable Housing Arizona California Multifamily New Mexico Western

CPP Acquires Three Affordable Housing Communities in California, New Mexico, Arizona for $48.7M

by Amy Works September 6, 2022

EL CAJON, CALIF.; GRANTS, N.M.; AND GLENDALE, ARIZ. — Community Preservation Partners (CPP) has purchased three multifamily properties in California, New Mexico and Arizona. CPP acquired Park Villa, a two-story garden-style apartment building in El Cajon, for $9 million. Built in 1959, Park Villa features 38 studio, one- and two-bedroom units designated at 30 percent to 60 percent of area median income (AMI). The project has a total redevelopment cost of approximately $18 million. Renovation is underway, with completion slated for December. The company bought Vista Mesa Villa, a 100-unit property with one- and two-bedroom layouts in Grants, for $6.5 million. CPP plans to invest $4.7 million, or $45,000 per unit, in renovations. Construction is underway and completion is scheduled for spring 2023. The residences at Vista Mesa Villa are set at 60 percent AMI. CPP also purchased Bethany Glen, a 25-building residential property in Glendale, for $33.2 million. The company plans to invest $58,000 per unit in renovations at the 150-unit community. Bethany Glen features one-, two- and three-bedroom units, as well as two additional buildings containing an employee unit and an office building. Project funding for all the properties leveraged Low-Income Housing Tax Credits and tax-exempt bonds and …

September 6, 2022

Acquisitions Multifamily Texas

Catalyst Equity Partners Buys 280-Unit Addison at Sugar Land Apartments in Metro Houston

by Taylor Williams September 2, 2022

SUGAR LAND, TEXAS — Texas-based investment firm Catalyst Equity Partners has purchased The Addison at Sugar Land, a 280-unit apartment community located on the southwestern fringe of Houston. According to Apartments.com, the property was built in 2004, features one-, two- and three-bedroom units and offers amenities such as a pool, fitness center, spa, business center, volleyball court and package handling services. The seller and sales price were not disclosed.

September 2, 2022

Acquisitions Industrial New Jersey Northeast

Provender Partners Buys Food Production, Distribution Facility in Southern New Jersey for $22.5M

by Taylor Williams September 2, 2022

VINELAND, N.J. — California-based investment firm Provender Partners has purchased a 217,540-square-foot food production and distribution facility located in the Southern New Jersey community of Vineland for $22.5 million. Built in the mid-1990s, the facility features clear heights of 28 feet, 23 dock-high doors, ample trailer parking and both freezer and cooler space. The 18-acre site also has the potential to be expanded. Provender Partners acquired the facility from the tenant, Safeway, in a sale-leaseback. Ryan Guittare and Kurt Montagano of Newmark brokered the deal.

September 2, 2022

Acquisitions Midwest Multifamily Wisconsin

JLL Brokers $40.8M Sale of Multifamily Property in Madison, Wisconsin

by Kristin Harlow September 2, 2022

MADISON, WIS. — JLL Capital Markets has brokered the sale of Stonewood Village in Madison for $40.8 million. The 272-unit, garden-style multifamily property features one- and two-bedroom units with an average size of 1,004 square feet. Amenities include a playground, pool and tennis courts. The value-add property was built in 1982. Wick Kirby, Amanda Friant and Jamie Fink of JLL represented the seller, Stonewood UI LLC, an affiliate of Banner Real Estate Group. Axiom Properties was the buyer. Matthew Schoenfeldt and Medina Spiodic of JLL originated a $29.8 million Fannie Mae acquisition loan on behalf of the buyer. The 10-year loan features a fixed interest rate.

September 2, 2022

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