sales_and_leases

Community Preservation Partners Acquires 179-Unit Affordable Seniors Community in Anaheim for $53.5M

by Nellie Day January 19, 2017

ANAHEIM, CALIF. — Community Preservation Partners (CPP), in a joint venture with Jamboree Housing, has acquired Miracle Terrace Apartments, a 179-unit affordable seniors housing community in the Los Angeles suburb of Anaheim, for $53.5 million. A private owner sold the property. As part of the transaction, the Anaheim Housing Authority will help keep rents below market level. Irvine-based CPP plans to invest $7.4 million in renovations to the property, including new air conditioning units, energy-efficient appliances, water conservation upgrades, improvements to the façade, amenity improvements, and new countertops, cabinets and flooring. Jamboree Housing will provide wellness and mobility services, as well as coordinate services and offer community events.

January 19, 2017

California Industrial Western

CNR International Leases 163,499 SF of Industrial Space in Long Beach

by Nellie Day January 19, 2017

LONG BEACH, CALIF. — CNR International has signed a five-year lease for 163,499 square feet of industrial space in the Long Beach submarket of Rancho Dominguez. The space is located at 2626 Vista Industria. The lease is valued at $6.8 million. Dylan Espley-Jones and Say Jeon of Lee & Associates represented the integrated logistics solutions provider. CBRE’s Brian Held and NGKF’s Jim Biondi and Terry Reitz represented the landlord, Prologis, in this transaction.

January 19, 2017

Industrial Oklahoma Texas

Binswanger Brokers Sale of Industrial Building in Oklahoma City

by Amy Works January 19, 2017

OKLAHOMA CITY — Binswanger has arranged the sale of an industrial building located at 6700 S. Sooner Road in Oklahoma City. Barr and Hoffman Properties acquired the 18,480-square-foot building from Barclay Properties for an undisclosed price. The building feature four 16-foot overhead doors, two 20-foot overhead doors, one 15-ton crane and 950 square feet of office space. Kipp Collins of Binswanger represented the seller in the deal.

January 19, 2017

Connecticut Healthcare Northeast Office

Tomasso Group Sells Medical Office Building in Connecticut for $30.2M

by Amy Works January 19, 2017

PLAINFIELD, CONN. — Tomasso Group has completed the disposition of Medical Arts Center at The Hartford Healthcare Cancer Institute, located at 201 N. Mountain Road in Plainfield. A publicly traded REIT acquired the property for $30.2 million. At the time of sale, the 72,022-square-foot property was 95 percent leased to Hartford Healthcare, Orthopedic Associates of Hartford and a variety of Hartford Healthcare-employed physicians. Ben Appel, Phil Mahler, Evan Kovac and Doug Rodio of HFF represented the seller in the transaction. Tunxis Management Co., an affiliate of Tomasso Group, will continue to manage the property.

January 19, 2017

District of Columbia Office Southeast

Trammell Crow Inks 473,000 SF Lease for New FCC Headquarters in D.C.

by John Nelson January 19, 2017

WASHINGTON, D.C. — Trammell Crow Co., along with joint venture partners Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital – Real Estate, has signed a long-term lease for nearly 473,000 square feet with the Federal Communications Commission (FCC). The U.S. General Services Administration (GSA) signed the lease on behalf of the FCC at Sentinel Square III, an 11-story office building that is under construction at 45 L St. N.E. in Washington, D.C.’s NoMa district. The FCC will occupy a portion of the first two floors and the entirety of floors three through 10 by November 2019. The 545,000-square-foot Sentinel Square III is part of the ownership’s 1.3 million-square-foot, mixed-use development. The building is designed to meet Level IV security protocols and LEED Silver standards. Kevin Terry of GSA and the CBRE team of Henry Chapman, Sara Dunstan, Richard Downey and Sarah Maxwell represented the FCC in the lease transaction. The FCC is the first committed tenant at Sentinel Square III.

January 19, 2017

Illinois Midwest Mixed-Use

RPAI Acquires 182,000 SF Mixed-Use Property in Naperville, Illinois for $88M

by Kristin Harlow January 19, 2017

NAPERVILLE, ILL. — Retail Properties of America Inc. (RPAI) has acquired Main Street Promenade in Naperville for $88 million. The 182,000-square-foot mixed-use property includes 103,000 square feet of retail space and 79,000 square feet of office space. The property is currently 93 percent occupied by tenants such as Anthropologie, Ann Taylor, Sur la Table and White House Black Market. The acquisition also includes a vacant parcel that can be developed into 62,000 square feet of mixed-use space. Dwight and Ruth Yackley of BBM Inc. developed the project. CBRE represented the seller, Dwight Yackley.

January 19, 2017

Kansas Midwest Retail

Block & Co. Arranges Sale of Two-Acre Retail Site in Leawood, Kansas

by Kristin Harlow January 19, 2017

LEAWOOD, KAN. — Block & Co. Inc. Realtors has arranged the sale of two acres in the Village of Seville shopping center in Leawood near Overland Park. The shopping center is located at West 133rd Street and State Line Road. An undisclosed buyer purchased the land to build a new 16,400-square-foot medical facility. David M. Block and Phil Peck of Block & Co. negotiated the transaction on behalf of the property owners. Cary Fox and Bill Shakelford of AREA Real Estate Advisors represented the buyer. Block & Co. is responsible for the leasing, property management and construction management of the Village of Seville development.

January 19, 2017

California Office Western

Stillwater Investment, CrossHarbor Capital Buy Aliso Viejo Office Campus for $36M

by Nellie Day January 18, 2017

ALISO VIEJO, CALIF. — A joint venture between Stillwater Investment Group and CrossHarbor Capital Partners has purchased a three-building office campus in Aliso Viejo for $36 million. The campus is located at 26600, 26650 and 26700 Aliso Viejo Parkway. It was built in 1999. The campus totals 161,000 square feet of office space with 2.5 acres of excess land. The site has been the corporate headquarters for QLogic, which Cavium acquired in August 2016. The JV will demolish the campus’ older interior finishes while upgrading all of the common areas. NGKF’s Byron Foss and Greg Tippin represented the seller in this transaction.

January 18, 2017

Multifamily New York Northeast

Clarion Partners Sells 284-Unit Apartment Property for $81.9M in Holbrook, New York

by Amy Works January 18, 2017

HOLBROOK, N.Y. — Clarion Partners has completed the sale of Broadway Knolls, a garden-style apartment building located at 2200 Dolphin Lane in Holbrook. A private buyer acquired the property for $81.9 million, or $290,000 per unit. Built in 2006, the 22-building property features 284 units in one- and two-bedroom layouts, a fitness center, outdoor swimming pool, grilling area, fire pit, basketball and tennis courts, playground, dog park, community room, business center and walking trail. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval of HFF, in collaboration with Select Real Equity Advisors, represented the seller in the deal.

January 18, 2017

Office Texas

CSW Development Sells Office Property in Austin

by Amy Works January 18, 2017

AUSTIN, TEXAS — CSW Development has completed the disposition of an office property located at 2711 W. Anderson Lane in Austin. Paydar Properties Inc. acquired the two-story, 29,000-square-foot property for an undisclosed price. The buyer plans to redevelop the property into 27 Eleven, a mid-rise multifamily and mixed-use development in the near future. Scott LaMontagne and Michael Gonzalez of JLL represented the seller in the deal.

January 18, 2017

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