sales_and_leases

Huff, Niehaus & Associates Arranges $4.4M Sale of Hampton Inn in Horse Cave, Kentucky

by Camren Skelton October 2, 2017

HORSE CAVE, KY. — Huff, Niehaus & Associates, a member of Hotel Brokers International, has arranged the $4.4 million sale of a Hampton Inn in Horse Cave. The Louisville-based company arranged the transaction on behalf of the seller, Dhami, Sohal & Sehgal Properties LLC. The 101-room hotel was sold in conjunction with a Ten-X auction to an undisclosed buyer. The new owner will rebrand the property and operate it as a newly flagged Holiday Inn Express, after undergoing a “Formula Blue” renovation. The Holiday Inn Express design prototype was launched in 2014 as a standard for Holiday Inn Express hotels. The prototype conversion focuses on implementing open, linear common spaces, brightly colored accent pieces and smart, efficient furniture and other essentials.

October 2, 2017

Arizona Retail Western

Sand Capital Subsidiary Buys 47-Property CVS Portfolio for $275M

by Nellie Day October 2, 2017

SCOTTSDALE, ARIZ.— A subsidiary of Sand Capital has acquired a portfolio of 47 CVS/pharmacy stores located throughout the country for $275 million. The stores include locations in Sedona, Ariz.; Seattle; Wheaton, Ill.; Southern California; Dallas; Houston; and Tuscaloosa, Ala. Some of the properties will be offered for sale. Sand Capital is a privately held real estate investment company controlled by the principals of Sandor Development Co., one of the largest privately held shopping center owners in the country.

October 2, 2017

California Industrial Western

PCCP, LDK Ventures Acquire 843,248 SF Industrial Facility in Vacaville

by Nellie Day October 2, 2017

VACAVILLE, CALIF. — A joint venture between PCCP and LDK Ventures has purchased a vacant 843,248-square-foot cross‐docked industrial building in Vacaville for an undisclosed sum. The asset is situated on 75 acres at 700 Crocker Drive in the Bay Area’s northern most city. The facility was built in the late 1970s. Features include 30-foot clear heights, a secured gated site with guard shack, excess yard area, a three-bay truck maintenance facility and a 30,000-square-foot cross-dock sorting facility with 32 dock-high doors. Brooks Pedder, John McManus and Tony Binswanger of Cushman & Wakefield represented both the buyer and seller in this transaction.

October 2, 2017

Hawaii Retail Western

Faris Lee Arranges $21.8M Sale of Retail Center in Hawaii

by Nellie Day October 2, 2017

KAILUA-KONA, HAWAII — Faris Lee Investments has arranged the $21.8 million sale of Coconut Grove Marketplace, a 49,513-square-foot retail center in Kailua-Kona. Donald MacLellan and Rick Chichester of Faris Lee represented the seller, Hudson America LP, and the buyer, J.H. Real Estate Partners. The center features an open layout with ocean views and an oceanfront volleyball court. Coconut Grove is home to tenants including ABC Stores, Humpy’s Alehouse, Lava Java, Outback Steakhouse, Kona Gear and Foster’s Kitchen.

October 2, 2017

Colorado Multifamily Western

Castle Lanterra Properties Buys 257-Unit Mountain Vista Apartments in Lakewood

by Nellie Day October 2, 2017

LAKEWOOD, COLO. — Castle Lanterra Properties (CLP) has purchased the 257-unit Mountain Vista Apartments in the Denver suburb of Lakewood for an undisclosed sum. The community is located at 474 S. Wright St. Amenities include a resident clubhouse, business center, fitness center, two outdoor swimming pools, picnic areas with barbecue grills, dog park, parking and laundry rooms.

October 2, 2017

Illinois Midwest Multifamily

Timberland Purchases 240-Unit Apartment Property in O’Fallon, Illinois

by Kristin Harlow October 2, 2017

O’FALLON, ILL. — Timberland Partners has purchased Green Mount Lakes Apartments in O’Fallon, about 20 miles east of St. Louis. The purchase price was not disclosed. A number of improvements are planned for the property, including a new fitness center, pool, dog park and a remodeling of the clubhouse. The property, built in 2004, features a mix of one-, two- and three-bedroom floor plans. Timberland Partners Investment Fund VI LLC was used to acquire Green Mount Lakes Apartments. Matt Bukhshtaber of CBRE represented the undisclosed seller.

October 2, 2017

Industrial Midwest Minnesota

Meyer Signs 36,000 SF Industrial Lease in Newport, Minnesota

by Kristin Harlow October 2, 2017

NEWPORT, MINN. — Meyer Distributing and Logistics has signed a 36,000-square-foot industrial lease at Raceway Business Center in Newport, about 10 miles southeast of St. Paul. The automotive distribution and logistics company will be the lead tenant at the new 83,000-square-foot development, which is currently under construction at 910 Hastings Ave. Scannell Properties broke ground on the project in July. The first phase will be available for occupancy in December. The building features 28-foot clear heights and multiple docks and drive-in doors. Daniel Madrigal of Scannell and Tom Sullivan and Peter Fooshe of Cushman & Wakefield negotiated the lease with Meyer. Scannell and Cushman & Wakefield are also marketing 144,000 square feet for lease in the second phase of the property.

October 2, 2017

Healthcare Texas

Global Medical REIT Acquires 59,000 SF Hospital in Austin for $40.6M

by Taylor Williams September 29, 2017

AUSTIN, TEXAS — Maryland-based Global Medical REIT Inc. has acquired Central Texas Rehabilitation Hospital, a 59,000-square-foot healthcare property located at 700 W. 45th St. in Austin, for roughly $40.6 million. The inpatient hospital features 50 beds and is leased to a joint venture between subsidies of healthcare providers Kindred Healthcare and Seton Healthcare.

September 29, 2017

Retail Texas

Glowzone to Open 52,525 SF Facility in Northwest Houston

by Taylor Williams September 29, 2017

HOUSTON — Glowzone, a family entertainment concept that features a ropes course, mini-golf and bumper cars, will open a 52,525-square-foot facility at 13150 Breton Ridge St. in northwest Houston. Balaxi One Breton Ridge LLC owns the big box property, having recently purchased it from Breton Ridge TX LLC. Randy Hopper and Gunnar Holman of JLL represented the seller in that transaction.

September 29, 2017

Retail Texas

Venture Commercial Arranges Sale of 4,600 SF Retail Center Near Grandscape

by Taylor Williams September 29, 2017

LEWISVILLE, TEXAS — Retail brokerage firm Venture Commercial has arranged the sale of a 4,600-square-foot retail center located at 5020 State Highway 121 in the Dallas metro of Lewisville. The property is adjacent to Grandscape, a 433-acre development owned by Berkshire Hathaway and anchored by Nebraska Furniture Mart. John Zikos, Jonathan Cooper and Don Miller of Venture Commercial represented the seller, NDC Holdings, in the transaction. Austin-based management firm Mutyala Properties purchased the asset for an undisclosed price.

September 29, 2017

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