sales_and_leases

Nazareth Enterprises Acquires Madrone Business Park Near San Jose for $15.6M

by Nellie Day July 26, 2017

MORGAN HILL, CALIF. — Nazareth Enterprises has purchased the 180,000-square-foot Madrone Business Park in Morgan Hill, just south of San Jose, for $15.6 million. The two-building asset is located at 18705 and 18715 Madrone Parkway. Nazareth Enterprises also purchased the Paramit Building late last year, making the company one of the single-largest landlords in Morgan Hill. Sterling Bank & Trust provided financing for the project. Abe Matar with Landmark Real Estate Services represented Nazareth. Stan Johnson Co. represented the seller, a private equity firm, in this transaction.

July 26, 2017

California Industrial Western

Westcore Properties Buys Industrial Building in Stockton for $9.1M

by Nellie Day July 26, 2017

STOCKTON, CALIF. — Westcore Properties has purchased a 158,400-square-foot industrial building in Stockton for $9.1 million. The building is located at 3834 Duck Creek Drive. It is a freestanding, cross-load building. Mike Goldstein and Ryan McShane of Colliers International represented the undisclosed seller in this transaction.

July 26, 2017

California Office Western

UCLA Extension Relocates Westwood Administrative Headquarters

by Nellie Day July 26, 2017

LOS ANGELES — UCLA Extension is relocating its administrative headquarters in Los Angeles. The school has leased a 51,452-square-foot space at 10960 Wilshire Blvd. The new facilities are just four blocks from its current location at 10955 Le Conte Ave. in Westwood Village. The extension signed a long-term lease for floors 16 and 17, which are joined by an interconnecting staircase. Craig Jablin of Savills Studley represented UCLA.

July 26, 2017

Northeast Office Pennsylvania

CBRE Arranges Sale of 1.8 MSF Office Complex in Philadelphia

by Amy Works July 26, 2017

PHILADELPHIA — CBRE Capital Markets has brokered the sale of Centre Square, a two-building, 1.8 million-square-foot office complex located at 1500 Market St. in Philadelphia. An affiliate of Nightingale Properties acquired the complex for an undisclosed price. Robert Fahey, Jerry Kranzel, Erin Hannan and Jack Corcoran of CBRE represented the seller, Chicago-based Equity Commonwealth, in the transaction. Built in 1974, the complex consists of a 36-story East Tower, a 43-story West Tower, a 450-vehicle parking garage and 41,000 square feet of retail space. The University of Pennsylvania Health System, Towers Watson, PHMC, Saul Ewing, Dilworth Paxson and Radian are tenants at the complex.

July 26, 2017

Multifamily Texas

IPA Arranges Sale of 308-Unit Multifamily Asset in San Antonio

by Taylor Williams July 26, 2017

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Aura at the Rim, a 308-unit multifamily asset in San Antonio. Built in 2016 on 11-plus acres, the property is located within The Rim, a 3 million-square-foot shopping center on the city’s northwestern side. Will Balthrope, Drew Kile and Jordan Featherston of IPA represented the seller, a Dallas-based developer and procured the buyer, a Chicago-based investor.

July 26, 2017

Hospitality Texas

Buccini/Pollin Acquires 302-Room Hotel in Irving for $46M

by Taylor Williams July 26, 2017

IRVING, TEXAS — The Buccini/Pollin Group, a hospitality and management firm with offices throughout the Mid-Atlantic, has acquired the 302-room Sheraton DFW Airport Hotel in Irving for $46 million. The hotel recently received $7 million in upgrades to its common areas, meeting rooms and guestrooms. Additional features include 25,000 square feet of meeting space in addition to a pool, exercise facility and business center. The seller was not disclosed.

July 26, 2017

Industrial Texas

CBRE Secures 120,000 SF Industrial Lease in El Paso

by Taylor Williams July 26, 2017

EL PASO, TEXAS — CBRE has secured a 120,000-square-foot industrial lease at 19 Leigh Fisher Blvd. in El Paso. The lease represents an expansion and relocation for the El Paso office of the tenant, Tianhai Electric North America, a Michigan-based manufacturer of automotive parts. Chad McCleskey and Christian Perez Giese of CBRE represented the landlord, an affiliate of Covington Group Inc., in the lease negotiations. The representative of the tenant was not disclosed.

July 26, 2017

Multifamily Texas

Muskin Brokers Sale of 78-Unit Apartment Complex in Austin

by Taylor Williams July 26, 2017

AUSTIN, TEXAS — Muskin Commercial LLC has brokered the sale of Eastside Commons, a 78-unit apartment complex located at 2401 Manor Road in Austin. Ellen Muskin and Daniel Elam of Muskin represented the seller, a California-based partnership. Nick Cochrane and Jesse Mamuhewa of Campus & Central Properties represented the buyer, EUP Partners LLC. Vista Bank provided financing for the acquisition.

July 26, 2017

Office Texas

Lee & Associates Negotiates 9,417 SF Office Lease Renewal in Houston

by Taylor Williams July 26, 2017

HOUSTON — Lee & Associates has negotiated a 9,417-square-foot office lease renewal at 3700 Buffalo Speedway in Houston on behalf of Chicago Title of Texas LLC. Chris Nash and Travis Taylor of Lee & Associates represented the tenant. The landlord, Moody National Buffalo Speedway MT LP, was represented internally.

July 26, 2017

Industrial Michigan Midwest

Marcus & Millichap Arranges Sale of 68,840 SF Self-Storage Facility in Wayne, Michigan

by Kristin Harlow July 26, 2017

WAYNE, MICH. — Marcus & Millichap has arranged the sale of EZ Storage in Wayne, about 25 miles west of Detroit. The sales price was not disclosed. The 68,840-square-foot self-storage facility is located at 34333 East Michigan Ave. The property consists of 588 units, 251 of which are climate-controlled. Brett R. Hatcher and Gabriel Coe of Marcus & Millichap’s marketed the property on behalf of the seller, a limited liability company. The team also procured the buyer, a limited liability company. Steven Chaben assisted in closing the transaction.

July 26, 2017

Newer Posts

Older Posts

Upcoming Events

Sep
03

Webinar: Inside the Design Revolution in Student Housing

Student Housing Business will host a webinar, “Inside the Design Revolution in Student Housing,” which explores how design and furniture are evolving to create more dynamic, marketable communities. The conversation will feature insights from leading design, development, and furniture experts.

Sep
04