sales_and_leases

CTDI Signs 166,620 SF Industrial Lease in Pleasant Prairie, Wisconsin

by Kristin Harlow February 27, 2018

PLEASANT PRAIRIE, WIS. — CTDI has signed a 166,620-square-foot industrial lease at Majestic Badger Logistics Center in Pleasant Prairie, about 37 miles south of Milwaukee. The global engineering, repair and logistics company will occupy the space within the 424,164-square-foot Building 1. Features of this building include a clear height of 36 feet, ESFR sprinkler system, large truck courtyard, 292 car parking spaces and office space. CTDI is the first tenant within the industrial park, which is owned by Majestic Realty Co. John Morrissey of Jackson Cross Partners represented CTDI in the lease transaction.

February 27, 2018

Illinois Midwest Retail

Baum Realty Arranges $6.3M Sale of 29,764 SF Retail Center in Chicago

by Kristin Harlow February 27, 2018

CHICAGO — Baum Realty Group LLC has arranged the sale of Albany Square in Chicago for $6.3 million. The 29,764-square-foot retail center is located at 4415-4453 N. Pulaski Road in Chicago’s Albany Park neighborhood. Some of the tenants at the property include Subway, Wingstop and Little Caesars. Greg Dietz, Brad Teitelbaum and Danny Spitz of Baum represented the undisclosed seller in the transaction. A local investor acquired the asset.

February 27, 2018

Retail Utah Western

NKF Arranges $142M Sale of 688,549 SF Retail Center Near Salt Lake City

by Nellie Day February 26, 2018

MIDVALE, UTAH — NKF Capital Markets has arranged the $142 million sale of a 688,549-square-foot portion of The Shops at Fort Union, a shopping center in Midvale, 12 miles south of Salt Lake City. The centers totals more than 830,000 square feet and was 86 percent leased at the time of sale to tenants such as Smith’s Food & Drug, Walmart Supercenter, Dick’s Sporting Goods, Ulta Beauty, Ross Dress for Less, Michaels and DSW. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF Capital Markets, in conjunction with Ben Brown of NKF affiliate Newmark Grubb ACRES, arranged the transaction on behalf of the undisclosed seller. The buyer, CCA Acquisition Co. LLC, was represented internally.

February 26, 2018

Arizona Multifamily Seniors Housing Western

Blueprint Brokers Sale of 90-Unit Assisted Living Community Near Phoenix

by Nellie Day February 26, 2018

LITCHFIELD PARK, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hacienda Del Rey, a 90-unit assisted living and memory care community in the Phoenix suburb of Litchfield Park. Hacienda Del Rey is arranged as nine 10-unit buildings surrounding a courtyard. A local developer built the Class A community in 2015. Recognizing the need for a more experienced operator, the developer sold the property to MBK Senior Living, a Southern California-based operator looking to expand its footprint in Arizona. Blueprint’s Jacob Gehl, Amy Sitzman and Giancarlo Riso led the transaction. The price was not disclosed.

February 26, 2018

Georgia Industrial Southeast

Colliers Brokers $11.4M Sale of Three-Building Industrial Portfolio in Metro Atlanta

by Camren Skelton February 26, 2018

CONYERS AND COVINGTON, GA. — Colliers International has brokered the $11.4 million sale of the I-20 East Portfolio, a three-building industrial portfolio located in Conyers and Covington. Two of the buildings are located at 1665 and 1715 Dogwood Drive in Conyers, roughly 25 miles east of Atlanta, and the third building is located at 11236 Harland Drive in Covington, roughly 35 miles southeast of Atlanta. Dennis Mitchell and Matt Wirth of Colliers arranged the transaction on behalf of the seller, First Industrial Realty Trust. Plymouth Industrial REIT acquired the buildings. The single-tenant portfolio was fully leased at the time of sale to three long-standing tenants: Bio-Lab Inc., Diversitech Corp. and Clarion Metals Corp.

February 26, 2018

Florida Multifamily Southeast Student Housing

Coastal Ridge, H. Katz Capital Buy 1,115-Bed Student Housing Asset Near University of Florida

by Camren Skelton February 26, 2018

GAINESVILLE, FLA. — A joint venture between Coastal Ridge Real Estate and H. Katz Capital has acquired Campus Lodge, a 1,115-bed student housing community located less than three miles from the University of Florida campus in Gainesville. EdR sold the property for an undisclosed price. The property, constructed in 2000, offers two-, three- and four-bedroom, fully furnished units with bed-to-bath parity and rents ranging from $1,206 to $2,052 per unit. Community amenities include a resort-style pool, fitness center, basketball court, tanning, a car wash area, picnic areas with barbecues, a computer lab and study rooms. The community is fully occupied for the 2017-2018 school year.

February 26, 2018

Florida Loans Office Southeast

CBRE Arranges $10.5M Sale, $7.1M Loan for Office Building in Metro Orlando

by Camren Skelton February 26, 2018

WINTER PARK, FLA. — CBRE has arranged the $10.5 million sale of 2699 Lee Road, an 87,226-square-foot office building in Winter Park, less than seven miles north of Orlando. Ron Rogg and Chip Wooten of CBRE arranged the transaction. At the time of sale, the building was 84 percent leased. Zac, Jim and Aaron Brumbaugh of CBRE secured a $7.1 million, 10-year loan through a life insurance company on behalf of the buyer, Owens Realty Capital. The non-recourse loan features one year of interest-only payments and a 30-year amortization schedule thereafter.

February 26, 2018

Industrial North Carolina Southeast

Trinity Capital, SilverCap Sell 272,282 SF Industrial Building in Durham

by Camren Skelton February 26, 2018

DURHAM, N.C. — Trinity Capital Advisors, in a joint venture with SilverCap Partners, has sold 3508 Tricenter Blvd., a 272,282-square-foot industrial building in Durham. Dalfen America Corp. acquired the asset for an undisclosed price. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the joint venture, which originally acquired the asset in 2016 at 53 percent occupancy. Trinity and SilverCap implemented capital improvements during their ownership, including additional docks and storefront space, bringing the property to full occupancy. The building features 31 dock-high loading doors, 22-foot clear heights, a 150-foot truck court and parking space for 24 trailers. At the time of sale, the building was home to tenants such as Amcor Rigid Plastics and HatchBeauty Laboratories.

February 26, 2018

Industrial Massachusetts Northeast

Colliers Negotiates $4.5M Sale of Flex Building in Hopkinton, Massachusetts

by Amy Works February 26, 2018

HOPKINTON, MASS. — Colliers International has brokered the sale of a flex building located at 35 South St. in Hopkinton. LakePharma, a U.S.-based biologics company, acquired the property from BCC Property I LLC, a subsidiary of Midway Corp., for $4.5 million. The buyer plans to repurpose much of the building’s existing 69,009 square feet of office, lab and manufacturing infrastructure and develop the space to allow for the performance of GMP biologics manufacturing for Phase 1 clinical trials. John Carroll III, Stephen Woelfel Jr. and Kevin Brawley of Colliers represented the seller, while Phil Desimone of JLL represented the buyer in the transaction.

February 26, 2018

Multifamily Texas

FourPoint Brokers Sale of Newly Built Apartment Community in Metro Austin

by Taylor Williams February 26, 2018

PFLUGERVILLE, TEXAS — FourPoint Investments has brokered the sale of The Emerson Apartments, a 384-unit multifamily community located in the northern Austin metro of Pflugerville. Built in 2017, the property offers a mix of one-, two and three-bedroom units and amenities such as a resort-style pool, fitness center, putting green and coffee bar. Kevin Dufour, Chris Epp and Chris Bancroft of FourPoint represented the buyer and seller, both of whom requested anonymity, in the transaction.

February 26, 2018

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