sales_and_leases

Ackerman & Co. Purchases Four-Building Industrial Portfolio in Metro Atlanta for $12.7M

by Camren Skelton September 11, 2017

TUCKER, GA. — Atlanta-based Ackerman & Co. has acquired Lavista Business Park, a four-building industrial portfolio located at 2000-2062 Weems Road in Tucker, roughly 20 miles northeast of Atlanta. Tom Shafer and John Hinson of CBRE represented the seller, Onward Investors affiliate CRE Lavista LLC, in the $12.7 million transaction. At the time of sale, the property was 87 percent leased to tenants including sonnen, which established its 26,000-square-foot U.S. headquarters and innovation center in the park in August; the Veterans Administration; Pure Red Marketing and WaveGuide Solutions. Frank Farrell of Ackerman will handle the property’s leasing assignment.

September 11, 2017

Multifamily Utah Western

Lionsgate Apartments in Murray Sells for $67.2M

by Nellie Day September 8, 2017

MURRAY, UTAH — A Seattle-based investor has acquired the 400-unit Lionsgate apartments in Murray or $67.2 million. The community is located at 136 W. Fireclay Ave., eight miles south of Salt Lake City and 40 miles north of Provo. Lionsgate features one- to three-bedroom floorplans that range from 942 square feet to 1,165 square feet. Danny Shin of Marcus & Millichap represented both the buyer and seller, a local owner, in this transaction.

September 8, 2017

California Retail Western

CBRE Facilitates $10.5M Sale of 27,132 SF Retail Center in Rancho Bernardo

by Nellie Day September 8, 2017

RANCHO BERNARDO, CALIF. — CBRE has brokered the sale of Rancho Carmel Village Center, a retail center located at 12125-12165 Alta Carmel Court in Rancho Bernardo. New World Limited Partnership acquired the 27,132-square-foot property from AP-Rancho Carmel LLC for $10.5 million. Situated on 3.3 acres, the property consists of three one-story buildings with a total of 14 tenants. At the time of sale, the center was fully occupied. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE represented the buyer, while Kobzi, Kirk Brummer and Phil Voorhees, also of CBRE, represented the seller in the deal.

September 8, 2017

Georgia Multifamily Southeast

PRP, GFH Sell 306-Unit Apartment Community in Atlanta for $43.5M

by Camren Skelton September 8, 2017

ATLANTA — PRP LLC and GFH have sold Ansley at Princeton Lakes, a 306-unit apartment community in Atlanta, for $43.5 million. The asset was owned in a joint venture comprising one of PRP’s private equity funds and GFH, a Bahrain-based investment company. Washington, D.C.-based PRP and its partner originally built the property in 2009 and invested $35.2 million in capital improvements in 2014. Located roughly three miles west of Hartsfield-Jackson Atlanta International Airport, Ansley at Princeton Lakes includes 19 three-story buildings with a mix of one-, two- and three-bedroom units. Community amenities include a swimming pool, grill stations, fitness center, hammock garden and a sports lounge with billiards. The buyer was not disclosed.

September 8, 2017

Connecticut Multifamily Northeast

IPA Arranges $20.9M Sale of 88-Unit Apartment Complex in Simsbury, Connecticut

by Amy Works September 8, 2017

SIMSBURY, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Mill Commons Apartments, an apartment complex located at 1 Millers Way in Simsbury. Beachwood Partners acquired the 88-unit property from Mills Commons LLC for $20.9 million, or $237,500 per unit. Victor Nolletti, Steve Witten and Eric Pentore of IPA represented the seller and procured the buyer in the deal.

September 8, 2017

Georgia Office Southeast

IG3 Real Estate Acquires Office Complex in Metro Atlanta for $13.5M

by Camren Skelton September 8, 2017

DULUTH, GA. — Miami-based IG3 Real Estate has purchased Sugarloaf Business Center, a 113,016-square-foot office complex in Duluth, for $13.5 million. The property is situated on 14 acres at 1845-1855 Satellite Blvd., roughly 30 miles north of Atlanta in Gwinnett County. Mariano Perez of Grandbridge Real Estate Capital arranged an $8.4 million acquisition loan through MidFirst Bank on behalf of IG3. Tony Swann and Craig Taylor of CBRE represented the seller, California-based Islandia Sugarwood LLC, in the sales transaction. The complex comprises two single-story office buildings constructed in 1999 and 2001. At the time of sale, Sugarloaf Business Center was 98 percent triple-net-leased to tenants including Credit Union Service Corp., Emory Clinic, Hire Dynamics, United HealthCare Services Inc. and USASF Servicing.

September 8, 2017

Georgia Retail Southeast

Marcus & Millichap Arranges $8.6M Sale of Three-Tenant Retail Property in Metro Atlanta

by Camren Skelton September 8, 2017

DUNWOODY, GA. — Marcus & Millichap has arranged the $8.6 million sale of a three-tenant retail property located near Perimeter Mall in the Atlanta suburb of Dunwoody. At the time of sale, the 10,350-square-foot property was leased to Corner Bakery Café and Sleep Number. Tim Giambrone of Marcus & Millichap represented the seller, an Atlanta-based limited liability company, and the buyer, a Santa Monica, Calif.-based private investor.

September 8, 2017

Multifamily Texas

ARA Newmark Arranges Sale of Newly Built Apartment Community in Carrollton

by Taylor Williams September 8, 2017

CARROLLTON, TEXAS — ARA Newmark has arranged the sale of Keller Springs Crossing, a 304-unit apartment community located at 3221 Keller Springs Road in the Dallas metro of Carrollton. Built in 2015, the property consists of a mix of one-, two- and three-bedroom units and offers amenities such as a pool, fitness center and a dog park. The buyer, seller and brokers of record for the transaction were not disclosed.

September 8, 2017

Industrial Office Texas

J. Beard Brokers Sale of Two Flex Assets Totaling 119,675 SF in Houston

by Taylor Williams September 8, 2017

HOUSTON — The J. Beard Real Estate Co. has brokered the sale of two office/warehouse properties totaling 119,675 square feet in Houston. The flex properties are situated on 16.7 acres at 12450 and 12452 Cutten Road. Jeff Beard of The J. Beard Co. represented the buyer, Downhole Technology, a provider of hydraulic fracturing plugs. Cape Bell and Allison Hall of Cushman & Wakefield represented the seller, Northwest Real Estate Holdings LLC.

September 8, 2017

Illinois Midwest Office

CBRE Arranges $18.9M Sale of Two Office Properties in Westmont, Illinois

by Kristin Harlow September 8, 2017

WESTMONT, ILL. — CBRE has arranged the sale of Oakmont Corporate Center and One Oakmont Plaza in Westmont, located about 23 miles west of Chicago, for $18.9 million. Oakmont Corporate Center is a four-story, 74,279-square-foot office building that is currently 95 percent leased. One Oakmont Plaza is a six-story, 117,841-square-foot office building that is currently 100 percent leased. Both properties are situated on five-acre sites and feature recently renovated lobbies. Bill Novelli, Derek Fohl and Pete Adamo of CBRE represented the undisclosed seller. Valley Equity Group purchased the portfolio.

September 8, 2017

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