sales_and_leases

Cushman & Wakefield Brokers $15M Sale of Two-Building Industrial Asset in New Jersey

by Amy Works February 22, 2018

FRANKLIN TOWNSHIP, N.J. — Cushman & Wakefield has arranged the sale of a two-building industrial asset located at 400 and 500 Apgar Drive in Franklin Township. Greek Development purchased the properties from High Street Realty for $15 million. At the time of sale, the two buildings, which total 170,500 square feet, were 91 percent occupied by 11 tenants. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt and Andrew MacDonald of Cushman & Wakefield represented the seller and procured the buyer in the deal.

February 22, 2018

California Retail Western

Kreation to Open Juice Café in Los Angeles

by Nellie Day February 22, 2018

LOS ANGELES — Kreation has signed a lease to open a organic pressed juice cafe at 11754-11756 San Vicente Blvd. in the Brentwood neighborhood of Los Angeles. The juicer leased a 2,273-square-foot space from GPI Cos. Currently, Kreation has 12 juiceries and three cafes. Hilton & Hyland represented the tenant, while Houman Mahboubi, Greg Briest and Devin Klein of JLL represented the landlord in the transaction.

February 22, 2018

Midwest Ohio Student Housing

Triad Negotiates Sale of 536-Bed Student Housing Property Near Ohio University

by Kristin Harlow February 22, 2018

ATHENS, OHIO — Triad Real Estate Partners has negotiated the sale of Carriage Hill Apartments near Ohio University in Athens for an undisclosed price. Built in two phases between 1967 and 1970, the student housing property features 536 beds within 337 units. The buyer, Emet Capital Management, plans to complete a substantial renovation and rebranding of the property. Columbus-based Wallick Communities was the seller.

February 22, 2018

Iowa Midwest Restaurant Retail

Colliers Arranges $1.8M Sale of Hardee’s-Occupied Property in Mount Pleasant, Iowa

by Kristin Harlow February 22, 2018

MOUNT PLEASANT, IOWA — Colliers International has arranged the sale of a 4,159-square-foot building occupied by Hardee’s in Mount Pleasant for $1.8 million. The property is located at 905 E. Washington St., about 50 miles south of Iowa City. Jon Busse, Joe Crotty and Josh McFadyen of Colliers represented the buyer, Kuhn Family Trust. Justin Zahn of Commercial Investment Advisors represented the seller, 4 G Properties LLC. Westar Food, a Hardee’s franchise with 36 locations, leases the property.

February 22, 2018

Arizona Multifamily Western

Western Wealth Capital Purchases 150 Apartment Units in Tempe for $17.3M

by Nellie Day February 21, 2018

TEMPE, ARIZ. — Western Wealth Capital has acquired the 150-unit Villatree apartments in Tempe for $17.3 million. The community is located at 1750 S. Price Road. Villatree was built in the 1980s, providing the new owner with a value-add opportunity. Steve Gebing and Cliff David represented both the buyer and the seller, PEM Real Estate Group, in this transaction.

February 21, 2018

Arizona Industrial Western

Pilkington North America Renews 200,000 SF Lease at Distribution Center in Phoenix

by Nellie Day February 21, 2018

PHOENIX — Pilkington North America has renewed its lease for 200,000 square feet at a distribution center in Phoenix. Buckeye 75 Distribution Park is located at 7375 W. Buckeye Road. Buckeye 75 Distribution Park totals three buildings with up to 30-foot clear height, ESFR sprinklers, T-5 lighting, evaporative cooling, skylights and on-site trailer storage for large warehouse and distribution operations. It is fully leased. Michael Haenel of Cushman & Wakefield represented Pilkington in its lease negotiations. Lincoln Property Co. owns the center.

February 21, 2018

Office Texas

HFF Negotiates Sale of 806,541 SF Office Portfolio in Houston

by Taylor Williams February 21, 2018

HOUSTON — HFF has negotiated the sale of Brookhollow Central I, II and III, a three-building portfolio of office properties totaling 806,541 square feet in Houston’s North Loop submarket. Dan Miller and Marty Hogan of HFF represented the seller, Miami-based office investment firm Parmenter, in the transaction. California-based Hertz Investment Group purchased the properties for an undisclosed price.

February 21, 2018

Northeast Office Pennsylvania

Thor Equities Acquires 214,000 SF Office Space in Philadelphia for $41.8M

by Amy Works February 21, 2018

PHILADELPHIA — Thor Equities has entered the Philadelphia market with the acquisition of a three-story office condominium, located at 907 Market St. in Philadelphia, for $41.8 million. Health Partners Plans, a not-for-profit health maintenance organization, occupies the 214,000-square-foot property. The newly purchased property is located above Fashion District Philadelphia, a retail, residential and office development slated to open in fourth quarter 2018. The name of the seller was not released.

February 21, 2018

Indiana Midwest Multifamily

Marcus & Millichap Brokers $1.5M Sale of Apartment Building in Hobart, Indiana

by Kristin Harlow February 21, 2018

HOBART, IND. — Marcus & Millichap has brokered the sale of Lakeview Apartments in Hobart, a city in northwestern Indiana, for $1.5 million. The 28-unit apartment building is located at 136 Main St. in the Lakefront district. The property is within a recently approved redevelopment of approximately 750 feet of shoreline. Plans call for new boat launches for kayaks and canoes. The property features a mix of studio, one- and two-bedroom units. Scott Harris of Marcus & Millichap brokered the sale on behalf of the seller, a partnership. He also secured and represented the buyer, a limited liability company.

February 21, 2018

Industrial Michigan Midwest

Signature Associates Arranges Sale of 29,991 SF Industrial Building in Suburban Detroit

by Kristin Harlow February 21, 2018

MADISON HEIGHTS, MICH. — Signature Associates has arranged the sale of a 29,991-square-foot industrial building in Madison Heights, a northern suburb of Detroit, for an undisclosed price. The property is located at 29370 Stephenson Highway. ZMS Holdings Inc. sold the property to 55 Investments LLC. Paul Hoge of Signature Associates represented the seller.

February 21, 2018

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