sales_and_leases

Ingram Micro Signs 592,800 SF Industrial Lease in Jeffersonville, Indiana

by Kristin Harlow September 26, 2017

JEFFERSONVILLE, IND. — Ingram Micro has signed a 592,800-square-foot industrial lease in Jeffersonville, three miles north of Louisville, Ky. The technology and supply chain services provider will fully occupy Gateway 600 within the River Ridge Commerce Center. The property is located on 40 acres at 250 Hilton Lane. VanTrust Real Estate developed the speculative building, which was completed earlier this year. Matt Hartlage and Jake Sturman of JLL represented the tenant in the lease transaction. Kevin Grove of CBRE represented the landlord.

September 26, 2017

Midwest Office Ohio

Colliers Brokers $5.9M Sale of Office Property in Cincinnati

by Kristin Harlow September 26, 2017

CINCINNATI — Colliers International has brokered the sale of a 39,385-square-foot office property in Cincinnati for $5.9 million. Built in 2010 and expanded in 2017, the building is located at 9655 Reading Road. EMCOR Inc., a mechanical and electrical construction services company, fully occupies the property. Steve Timmel, Jeff Johnston, Chris Prosser and John Gartner of Colliers represented the undisclosed seller. A real estate investment trust purchased the property.

September 26, 2017

Midwest Minnesota Multifamily

Marcus & Millichap Arranges $3M Sale of Apartment Building in St. Paul, Minnesota

by Kristin Harlow September 26, 2017

ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of a 25-unit apartment building in St. Paul’s Merriam Park neighborhood for $3 million. The property is located at 1880 Marshall Ave. Mox Gunderson, Dan Linnell, Josh Talberg and Evan Miller of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and secured the buyer, a partnership.

September 26, 2017

Retail Texas

InvenTrust Acquires 226,000 SF Grocery-Anchored Center in Metro Austin for $59M

by Taylor Williams September 26, 2017

KYLE, TEXAS — InvenTrust Properties Inc. has acquired Kyle Marketplace, a 226,000-square-foot shopping center located in the southern Austin suburb of Kyle, for approximately $59 million. Anchored by H-E-B, the center is currently leased to tenants such as Starbucks, Subway and Whataburger. The seller was not disclosed.

September 26, 2017

Retail Texas

Sterling Organization Sells 103,000 SF Shopping Center in San Antonio for $21.9M

by Taylor Williams September 26, 2017

SAN ANTONIO — Sterling Organization, a Palm Beach, Fla.-based private equity firm, has sold Grandview Shopping Center, a 103,000-square-foot, grocery-anchored shopping center in San Antonio for $21.9 million. Anchored by Sprouts Farmers Market, the center is located along Interstate 10 at Callaghan Road, just north of the Loop 410 interchange. The company originally acquired the asset in 2012 for roughly $11.1 million. The buyer was not disclosed.

September 26, 2017

Industrial Office Texas

Bradford Commercial Negotiates 87,780 SF Flex Lease in Metro Dallas

by Taylor Williams September 26, 2017

GARLAND, TEXAS — Bradford Commercial Real Estate Services has negotiated an 87,780-square-foot office/warehouse lease at 2660 Market St. in the Dallas metro of Garland. Kevin Santaularia and Susan Singer of Bradford Commercial represented the landlord, Houston-based Herzstein Investments Inc., in the lease negotiations. Mark Collins of Cushman & Wakefield represented the tenant, American Builders Contractors Supply Co. Inc., a distributor of roofing, siding and window materials. The space includes three acres for outside storage.

September 26, 2017

California Multifamily Western

Kennedy Wilson Buys 210-Unit Latitude Apartments in Happy Valley for $58M

by Nellie Day September 25, 2017

HAPPY VALLEY, ORE. — Kennedy Wilson has purchased the 210-unit Latitude Apartments in Happy Valley for $58 million. The community is located at 11282 S.E. Causey Circle. Latitude Apartments was built in two phases between 2008 and 2014. It is situated near Clackamas Town Center. Amenities include a dog run and grooming station, electronic parcel lockers, bike repair station, fitness facility, pool, basketball court and direct-entry garages. HFO represented both the buyer and the seller, the Reliant Group, in this transaction.

September 25, 2017

Massachusetts Northeast Office

NKF Facilitates $51.5M Sale of Office Park in Waltham, Massachusetts

by Amy Works September 25, 2017

WALTHAM, MASS. — Newmark Knight Frank (NKF) has arranged the sale of Totten Pond Office Park, an office complex located in Waltham. Anchor Line Partners in a joint venture with Northwood Investors acquired the property from TA Realty for $51.5 million. Located at 400, 410 and 460 Totten Pond Road, the three-building office park was 87 percent leased to 43 tenants at the time of sale. On-site amenities for the office park include a cafeteria, fitness center, conference room and café. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the seller in the deal.

September 25, 2017

Maryland Multifamily Southeast

FCP, Urban Atlantic Acquire Two Apartment Assets in Metro D.C. for $44M

by Camren Skelton September 25, 2017

FORESTVILLE AND CAPITOL HEIGHTS, MD. — Federal Capital Partners (FCP), in a joint venture with Urban Atlantic, has acquired two apartment assets in metro Washington, D.C. for a combined $44 million. Christine Espenshade and Robert Garrish of JLL arranged the transaction on behalf of the buyer. Located at 5521 Marlboro Pike in Forestville, Holly Springs Meadows is roughly 12 miles southeast of Washington, D.C. The pet-friendly community features modern kitchens, a playground and open courtyard spaces. The second community, Woods at Addison, is located at 6500 Ronald Road in Capitol Heights, approximately 10 miles east of D.C. The community features modern kitchens, private balconies or patios, a pool and tennis and basketball courts. The properties have a combined total of 449 apartment units.

September 25, 2017

Multifamily Southeast Virginia

Marcus & Millichap Arranges $8.1M Sale of Multifamily Community in Virginia Beach

by Camren Skelton September 25, 2017

VIRGINIA BEACH, VA. — Marcus & Millichap has brokered the $8.1 million sale of Hollygreen Apartments, a 96-unit multifamily community located at 3429 Hollygreen Drive in Virginia Beach. Altay Uzun and Justin Ferguson of Marcus & Millichap represented the sellers, private investors who had owned the property since its construction in 1984, in the 1031 exchange. Uzun also procured the undisclosed buyer. The community includes one- and two-bedroom floor plans and features a fitness center and swimming pool.

September 25, 2017

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