sales_and_leases

Branch Properties Acquires 192,624 SF Kroger-Anchored Shopping Center in Metro Memphis

by Camren Skelton July 21, 2017

BARTLETT, TENN. — Atlanta-based Branch Properties LLC has acquired Bartlett Towne Center, a 192,624-square-foot, Kroger-anchored shopping center located at 6045 Stage Road in Bartlett, roughly 13 miles east of Memphis. Jim Hamilton and Richard Reid of HFF marketed the property on behalf of the seller, Houston-based Weingarten Realty Investors. The sales price was not disclosed. At the time of sale, Bartlett Towne Center was 94 percent leased to tenants including Petco, Dollar Tree, Shoe Carnival, Rent-A-Center, Sally Beauty, FedEx and Mattress Firm, among others.

July 21, 2017

Georgia Office Southeast

JGRE/CORFAC International Sells Office Building in Buckhead for $20M

by Camren Skelton July 21, 2017

ATLANTA — Joel & Granot Real Estate/CORFAC International (JGRE) has sold a 108,000-square-foot office building located at 550 Pharr Road in Atlanta’s Buckhead district. The property is situated at the northwest corner of Pharr and Piedmont roads. Alan Joel and Dan Granot of JGRE represented 550 Buckhead LLC, an entity made up of JGRE, its Dallas-based mezzanine partner Rainer and other investors, internally in the sale to Charlotte-based Stone Street Capital. JGRE and Rainer originally acquired the office building when it was vacant in 2013.

July 21, 2017

Office South Carolina Southeast

NAI Avant Brokers $11.3M Sale of Office Building in North Charleston

by Camren Skelton July 21, 2017

NORTH CHARLESTON, S.C. — NAI Avant has arranged the $11.3 million sale of 4221 Faber Place Drive, a 48,000-square-foot, Class A pharmaceutical manufacturing and testing facility located within the Faber Place Executive Park in North Charleston. Dexter Rumsey of NAI Avant represented the buyer, JEMA I LLC, in the transaction. CBRE’s Charlie Carmody represented the seller, The Medical University of South Carolina. At the time of sale, the building was leased long-term to a pharmaceutical testing company.

July 21, 2017

California Retail Western

Marcus & Millichap Negotiates $10.8M Sale of Shopping Center in Huntington Beach

by Nellie Day July 21, 2017

HUNTINGTON BEACH, CALIF. — Marcus & Millichap has brokered the sale of Seagate Plaza, a shopping center located at 16107 Bolsa Chica St. in Huntington Beach. Cathy Investments acquired the property from Asbury Properties for $10.8 million. Carl’s Jr., Seagate Veterinary Hospital, Classic Cleaners, Seagate Liquor & Grocery, Subway and Coastline Dental occupy the 30,234-square-foot retail plaza, which was built in 1975. Joseph Lising of Marcus & Millichap represented the buyer in the 1031-exchange transaction.

July 21, 2017

California Retail Western

Colliers Negotiates $3.2M Acquisition of Retail, Industrial Property in Temecula

by Nellie Day July 21, 2017

TEMECULA, CALIF. — Colliers International has arranged the acquisition of a multi-tenant retail and industrial property located at 41735 Winchester Road in Temecula. Anderson Family Trust acquired the property from Winchester Group JV for $3.2 million. Redline Athletics, The Springs Community Church and All Star Promotions, among others, occupy the 27,924-square-foot building, which was fully occupied at the time of sale. Joe Brady of Colliers represented the buyer, while John Pfaffl of Jonan Property Services represented the seller in the deal.

July 21, 2017

California Office Western

Cypress Equity Investments Acquires Commercial Property in Santa Monica

by Nellie Day July 21, 2017

SANTA MONICA, CALIF. — Cypress Equity Investments has purchased a commercial property located at 3223 Wilshire Blvd. in Santa Monica. Satnam Investments sold the property for an undisclosed price. The property is comprised of two parcels, including a two-story, 11,730-square-foot building. The parcels are zoned mixed-use, allowing for a range of redevelopment opportunities. Mitchell Stokes of Madison Partners represented the seller and buyer in the deal.

July 21, 2017

Midwest Minnesota Multifamily

CBRE Brokers $53.2M Sale of Apartment Property in Minneapolis

by Kristin Harlow July 21, 2017

MINNEAPOLIS — CBRE has brokered the sale of Track 29 in Minneapolis for $53.2 million. The 198-unit apartment property is located at 2841 Bryant Avenue South along the north side of the Midtown Greenway. The 148,082-square-foot building offers a mix of studio, one- and two-bedroom units. Amenities include an art gallery/exhibition space, rooftop terrace, Zen garden, saltwater pool and dog run. Abe Appert, Keith Collins, Ted Abramson and Laura Hanneman of CBRE represented the seller, Bryant Apartments LLC, a local private investment partnership. An institutional buyer purchased the property.

July 21, 2017

Colorado Multifamily Western

Kent Place Residences in Colorado Sells for $127.4M

by Nellie Day July 20, 2017

ENGLEWOOD, COLO. — Institutional investors have acquired the 300-unit Kent Place Residences in Englewood for $127.4 million. The community is located at 3465 S. Gaylord Court in the Cherry Hills Village area. Kent Place Residences was built in 2015. Outdoor amenities include a rooftop lounge with views of the Rocky Mountains and downtown Denver, as well as outdoor televisions and barbeque grills, outdoor kitchens, a walking trail, pool with two spas, community garden, pet play area, bocce ball court and complimentary bike rentals. HFF’s Jordan Robbins, Jeff Haag and Anna Stevens represented the seller, Forum Real Estate Group, in this transaction. J.P. Morgan Asset Management advised the undisclosed buyers.

July 20, 2017

Arizona Multifamily Seniors Housing Western

Summit Healthcare REIT Acquires Assisted Living Community in Chandler for $13.4M

by Nellie Day July 20, 2017

CHANDLER, ARIZ. — Summit Healthcare REIT Inc. has acquired Pennington Gardens, a 90-bed assisted living and memory care facility in the Phoenix suburb of Chandler for $13.4 million. Summit will lease the property to Compass Senior Living, which already operates six communities in Summit’s portfolio. The acquisition was made through Summit Chandler LLC, which is a wholly owned subsidiary of Summit. Summit is a non-traded REIT with 32 long-term, triple-net-leased healthcare facilities in 12 states.

July 20, 2017

Mixed-Use Multifamily New York Northeast Restaurant Retail

Trion Real Estate Acquires Mixed-Use Building in Manhattan for $11.5M

by Amy Works July 20, 2017

NEW YORK CITY — Trion Real Estate Management has purchased a five-story, mixed-use building located at 818 10th Ave. in Manhattan’s Hell’s Kitchen. A local interest group sold the building for $11.5 million, or $932.68 per square foot. Built in 1910, the 12,330-square-foot building features 12 residential apartments and two restaurants, Mamasita Mex and White Oak Oyster Bar & Cocktail Lounge. Peter Vanderpool of Cignature Realty Associates represented the seller and buyer in the deal.

July 20, 2017

Newer Posts

Older Posts

Upcoming Events

Sep
03