sales_and_leases

First Potomac Realty Trust Sells Two Industrial, Office Buildings in Virginia for $88.7M

by John Nelson February 22, 2017

ALEXANDRIA AND FAIRFAX, VA. — Bethesda, Md.-based First Potomac Realty Trust has sold Plaza 500, a 502,830-square-foot industrial property located at 6295 Edsall Road in Alexandria. Matan Cos. purchased the asset, which was 90.5 percent leased as of Sept. 30, 2016, for $75 million. First Potomac has also sold One Fair Oaks, a 214,214-square-foot office building located at 4114 Legato Road in Fairfax, for $13.7 million. CACI International, an information technology firm, fully occupied the property through the end of 2016. The buyer was an affiliate of Beacon Capital Partners, according to the Washington Business Journal.

February 22, 2017

Colorado Multifamily Western

Advenir Acquires Rockledge Bear Valley Apartments in Denver for $38M

by Nellie Day February 21, 2017

DENVER — Advenir has purchased the 230-unit Rockledge Bear Valley apartments in Denver for $38 million. The community is located at 3550 S. Kendall St. Rockledge Bear Valley amenities include a fitness center, WiFi Café, dog park, business center, outdoor grilling area, outdoor sport court, bocce ball court, resort-style pool and outdoor lounge with a fireplace. It is situated approximately five miles from Denver’s financial center. HFF’s Jordan Robbins and Jeff Haag represented the seller, Jackson Square Properties. The firm also arranged a three-year, full-term, interest-only, floating-rate loan with two 12-month extension options through Freddie Mac’s Green Program and Value-Add Program. HFF will service the securitized loan.

February 21, 2017

California Office Western

Nativo Leases Headquarters Space at Pacific Corporate Towers in Los Angeles

by Nellie Day February 21, 2017

LOS ANGELES — Nativo has leased 25,051 square feet of office space at Pacific Corporate Towers (PCT) in the Los Angeles submarket of El Segundo. The building is located at 100, 200 and 222 N. Sepulveda Blvd. Nativo will relocate from 9,000 square feet in the 200 building to PCT’s 100 building for its new corporate headquarters. JLL’s Jason Fine represented Nativo in the lease. CBRE represented the landlord, GM Pension Fund / Blackrock.

February 21, 2017

Industrial New Jersey Northeast

Cushman & Wakefield Facilitates Sale of 324,540 SF Industrial Building in New Jersey

by Amy Works February 21, 2017

MONROE, N.J. — Cushman & Wakefield has arranged the sale of an industrial building located at 26 Englehard Drive in Monroe. A Boston-based advisor acquired the 324,540-square-foot property from Principal Real Estate Investors for an undisclosed price. The property features 45- by 50-foot column spacing, 170-foot truck courts, 48 loading positions and rail line service by Conrail. Gary Gabriel, David Bernhaut, Andrew Merin, Kyle Schmidt, Brian Whitmer, Jules Nissim and Jason Goldman of Cushman & Wakefield represented the seller in the deal.

February 21, 2017

Industrial Midwest Wisconsin

Dickman Co./CORFAC Brokers Sale of 11,400 SF Industrial Building in Milwaukee

by Kristin Harlow February 21, 2017

MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of an 11,400-square-foot industrial building in Milwaukee. The building is located at 2330 W. Clyburn Ave. The buyers, Evan Hughes and William P. McQuillan, purchased the building from 6211 Church Road Property LP. TJ Huenerbein of the Dickman Co. represented the buyers.

February 21, 2017

Multifamily Nevada Western

Hamilton Zanze Acquires Alicante Villa Apartments in Las Vegas for $35.5M

by Nellie Day February 20, 2017

LAS VEGAS — Hamilton Zanze has purchased the 232-unit Alicante Villa Apartments in Las Vegas for $35.5 million. The community is located at 4370 S. Grand Canyon Drive. Alicante Villa was built in 2001 four miles from downtown Summerlin. CBRE’s Jeffrey Swinger represented the seller, Kislak, in this transaction.

February 20, 2017

Multifamily Washington Western

Security Properties Buys Beaumont Grand Apartments in Lakewood for $35.2M

by Nellie Day February 20, 2017

LAKEWOOD, WASH. — Security Properties has acquired the 267-unit Beaumont Grand apartments in Lakewood for $35.2 million. The community is located at 8504 82nd St. SW. It is situated near the Port of Tacoma and Joint Base Lewis-McChord, a U.S. military installation supporting more than 66,000 jobs. The property is 95 percent leased. HFF’s Ira Virden and Chris Ross represented the seller, Grand Peaks Properties, and its finance partner, Pacific Coast Capital Partners, in this transaction.

February 20, 2017

Illinois Midwest Multifamily

Essex Brokers $7.4M Sale of 110-Unit Multifamily Portfolio in Suburban Chicago

by Kristin Harlow February 20, 2017

OAK LAWN AND WORTH, ILL. — Essex Realty Group Inc. has brokered the sale of a 110-unit multifamily portfolio in suburban Chicago for $7.4 million. The portfolio consists of three buildings in the southwest suburbs of Oak Lawn and Worth. The properties include 10409-35 S. Menard Ave. and 10300-20 S. Parkside Ave. in Oak Lawn, and 6615-19 W. Lloyd Drive in Worth. The buildings were converted to condos in the mid-2000s. The unit mix for the buildings includes 49 one-bedroom, 59 two-bedroom and two three-bedroom units. The purchaser plans to acquire the remaining 16 units. Brian Kochendorfer and Matt Welke of Essex represented the seller in the transaction. Doug Imber and Kate Varde represented the buyer.

February 20, 2017

Midwest Minnesota Multifamily

CBRE Arranges $6.5M Sale of Apartment Building in Minneapolis

by Kristin Harlow February 20, 2017

MINNEAPOLIS — CBRE has arranged the sale of The Parkway in Minneapolis for $6.5 million. The 70-unit apartment community is located at 1501 LaSalle Ave. near Loring Park. The building, originally built in 1917, has undergone significant improvements to the lobby and common areas. Half of the apartments were upgraded prior to the sale. Ted Abramson, Robert Lockman, Keith Collins and Laura Hanneman of CBRE represented the seller, Parkway Property Investors LLC. The buyer was local owner TE Miller Development LLC, based in Eden Prairie.

February 20, 2017

California Retail Western

Progressive Real Estate Partners Negotiates $3.5M Sale of Shopping Center in Yucaipa

by Nellie Day February 17, 2017

YUCAIPA, CALIF. — Progressive Real Estate Partners has arranged the sale of Yucaipa Plaza, a retail and office property located at 34469-79 Yucaipa Blvd. in Yucaipa. An Orange County, Calif.-based private investor sold the property to a Los Angeles-based private investor for $3.5 million. Built in 1970, the 37,453-square-foot building features ground-floor retail space and office space on the second floor. Current tenants include Papa John’s Pizza, Boost Mobile and Allstate. Greg Bedell and Pablo Velasco of Progressive Real Estate Partners represented the seller and buyer in the deal.

February 17, 2017

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