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sales_and_leases

MultifamilyOregonSeniors HousingWestern

Granite Investment Group Acquires Two-Property Memory Care Portfolio in Portland

by Nellie Day

PORTLAND, ORE. — Granite Investment Group has acquired Tabor Crest, a two-property memory care company in East Portland, for an undisclosed price. One of the facilities was completed in 2016 and was leased up in six months. The second was acquired by the sellers in 2004 and underwent improvements to the facility and operations. Avalon Health Care Group will operate the 60-unit portfolio. Congressional Bank provided a bridge loan as part of the transaction. Housing and Healthcare Finance will process the permanent HUD loan. Based in Irvine, Calif., Granite is a privately held investment management firm.

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ArizonaRetailWestern

Cushman & Wakefield Arranges Sale of Camelback Center in Phoenix

by Nellie Day

PHOENIX — Cushman & Wakefield has arranged the sale of Camelback Center, a 32,963-square-foot shopping center located in Phoenix. CVS/pharmacy and Total Wine anchor the center, which is fully occupied by tenants including Chipotle Mexican Grill, Massage Envy, European Wax Center and Jimmy Johns. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the undisclosed seller in the transaction. Perry Investment Trust purchased the property. Terms of the sale were undisclosed.

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OfficeSoutheastVirginia

Divaris Brokers $13.2M Sale of Office Portfolio in Virginia Beach Area

by Camren Skelton

CHESAPEAKE AND VIRGINIA BEACH, VA. — Divaris Real Estate Inc. (DRE) has arranged the $13.2 million sale of two office buildings in the Virginia Beach area: Southeastern Virginia Training Center, a 36,277-square-foot property located at 2100 Steppingstone Square in Chesapeake, and Probation and Parole Office Building, an 11,139-square-foot building located at 2520 Nimmo Parkway in Virginia Beach. Jason Oliver and Alex Divaris of Virginia Beach-based DRE represented the seller, Armada Hoffler Properties Inc. The Virginia Beach-based real estate company developed both properties as build-to-suits for the Commonwealth of Virginia.

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IowaMidwestMultifamily

Draper and Kramer Sells Office Building in Des Moines, Iowa for $30.2M

by Kristin Harlow

DES MOINES, IOWA — Draper and Kramer Inc. has sold Capital Square in downtown Des Moines to Real Capital Solutions for $30.2 million. Designed by Skidmore, Owings & Merrill, the 454,619-square-foot office building is located at 400 Locust St. Draper and Kramer developed the eight-story building in 1983. Tenants include The Des Moines Register, RSM McGladrey, Life Care Services, BH Equities and Iowa State University. CBRE represented Draper and Kramer in the sale transaction.

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IllinoisIndustrialMidwest

Darwin Brokers Sale of 160,000 SF Warehouse in Bellwood, Illinois

by Kristin Harlow

BELLWOOD, ILL. — Darwin Realty has brokered the sale of a 160,000-square-foot warehouse in Bellwood, 13 miles west of Chicago. The sales price was not disclosed. The property is located at 950 S. 25th Ave. U-Haul/AMERCO Real Estate Co. purchased the property for use as a truck rental and self-storage facility. The building features 11,500 square feet of office space, 5,000 square feet of cooler space, clear heights ranging from 12.5 to 19.5 feet, 14 exterior docks and two interior docks. U-Haul chose this site due to its proximity to I-290 and large parking lot on the 8.3-acre site. The new owner will take occupancy of the building in October. Jeffrey Provenza and George Cibula of Darwin represented the seller, 950 S. 25th Ave. LLC. U-Haul was self-represented.

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HealthcareTexas

Partnership Acquires 423,411 SF Medical Office Portfolio in San Antonio

by Taylor Williams

SAN ANTONIO — A partnership between Artemis Real Estate Partners, Ackerman & Co. and MLL Capital has purchased a four-building portfolio of medical office properties totaling 423,411 square feet in San Antonio. The 128,578-square-foot Santa Rosa Professional Pavilion and the 123,324-square-foot Rosa Verde Tower are located in the city’s CBD and Northwest Towers I and II, which total 171,509 square feet, are located within the South Texas Medical Center. Lee Asher, Chris Bodnar and Scott Herbold of CBRE represented the undisclosed seller in the transaction. Ed Cross and Brent Smith of Cushman & Wakefield represented the buyer. The new ownership will invest $27 million in renovations to the portfolio.

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IndustrialTexas

Boyd Commercial Secures 30,870 SF Industrial Lease in Houston

by Taylor Williams

HOUSTON — Boyd Commercial has secured a 30,870-square-foot industrial lease at 3801 Yale St. in Houston on behalf of Petro Valve Inc., a Houston-based producer and distributor of valves. Clay Peeples of Boyd Commercial represented the tenant in the lease negotiations. Greg Barra, also of Boyd Commercial, represented the landlord, FR AZ/TX LLC.  

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IndustrialTexas

TA Realty Sells Three-Building, 101,635 SF Industrial Portfolio in Houston

by Taylor Williams

HOUSTON — Boston-based investment firm TA Realty has sold a three-building, 101,635-square-foot portfolio of industrial properties in Houston to ATCAP Partners for an undisclosed price. The portfolio, which is 100 percent leased, consists of 3300 Claymoore Park in Houston’s Northwest industrial submarket, and 9362 Wallisville Road and 9366 Wallisville Road in the Northeast submarket. Rusty Tamlyn and Trent Agnew of HFF represented TA Realty in the transaction.  

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IndustrialTexas

Lee & Associates Negotiates 115,000 SF Industrial Lease in Dallas

by Taylor Williams

DALLAS — Lee & Associates has negotiated a 115,000-square-foot industrial lease at 3912 W. Illinois Ave. in Dallas on behalf of Erect-A-Line Inc., a Dallas-based paving company. Nathan Denton and Corbin Blount of Lee & Associates represented the tenant in the lease negotiations, and Ken Wesson and Christine Vasily, also of Lee & Associates, represented the landlord, Illinois Capital Partners. Erect-A-Line plans to relocate from its current 36,000-square-foot facility to its new space in February 2018. The transaction is the largest industrial lease inked in the Oak Cliff submarket this year

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OfficeTexas

Citadel Partners Secures 8,603 SF Office Lease in Addison

by Taylor Williams

ADDISON, TEXAS — Citadel Partners LLC has secured an 8,603-square-foot office lease at 14901 Quorum Drive in Addison on behalf of Plano-based recruiting firm BG Staffing Inc. Mac Morse and Taylor Dickerson of Citadel Partners represented the tenant in the lease negotiations. Ryan Evanich and Chase Lopez of Stream Realty Partners represented the landlord.

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