sales_and_leases

Boulder Group Brokers $4.2M Sale of Three-Tenant Retail Center in Romeoville, Illinois

by Christina Cannon July 27, 2016

ROMEOVILLE, ILL. — The Boulder Group has brokered the sale of a three-tenant, net-leased shopping center in Romeoville, approximately 40 miles southwest of Chicago, for $4.2 million. The property is located at 253 S. Weber Road, and tenants include Chipotle, Dunkin’ Donuts and Sleepy’s. Target and Kohl’s shadow anchor the center, which was built in 2014. The buyer was a Northeast-based real estate investment company in a 1031 exchange transaction. The seller was a Midwest real estate company. Dunkin’ Donuts and Chipotle have approximately eight years remaining on their lease, and Sleepy’s has six years remaining on its lease.

July 27, 2016

Mixed-Use New Jersey Northeast Office Retail

Marcus & Millichap Brokers $3.2M Sale of Mixed-Use Building in New Jersey

by Amy Works July 27, 2016

BAYONNE, N.J. — Marcus & Millichap has arranged the sale of Bayonne Plaza, a mixed-use property located at 473 Broadway in Bayonne. A private investor acquired the property from a developer for $3.2 million. The building features 29,577 square feet of space. Alan Cafiero, David Cafiero and Ben Sgambati of Marcus & Millichap represented the seller and the buyer in the deal.

July 27, 2016

Healthcare Office Texas

Sanders Trust Purchases Trio of Hospitals for $115.5M

by Haisten Willis July 27, 2016

AUSTIN, DALLAS and CONROE, TEXAS — Alabama-based Sanders Trust has acquired three medical facilities in Texas for $115.5 million. The three facilities, located in Austin, Dallas and Conroe, are inpatient rehabilitation hospitals operated by affiliates of Birmingham’s HealthSouth. Together, they total 192,000 square feet. The Austin location includes 75 licensed beds, Dallas has 50 and Conroe has 60, according to the Houston Business Journal. Medical Properties Trust sold the hospitals in a joint venture transaction with Chicago-based capital partner Harrison Street Real Estate. JLL Healthcare Capital Markets represented Medical Properties Trust in the sale. First Tennessee Bank, Iberia Bank, Synovus Bank and Renasant Bank provided acquisition financing on behalf of Sanders Trust.

July 27, 2016

Office Washington Western

Hayman Advisors Acquires Microsoft-Anchored Office Complex in Redmond for $37M

by Nellie Day July 27, 2016

REDMOND, WASH. — Hayman Advisors has purchased Redmond Woods, a Microsoft-anchored, 145,221-square-foot office complex in Redmond, for $37 million. The complex is located at 5000, 5010 and 5020 148th Ave. NE. It includes three buildings that are fully occupied by seven tenants, including Microsoft Corp. The property is also adjacent to Microsoft’s world headquarters. NGKF’s Kevin Shannon and Michael Moll, with the assistance of CBRE’s Lou Senini and Tom Pehl, represented the seller, Clarion Partners, in this transaction.

July 27, 2016

Arizona Multifamily Western

Benjamin Covaciu Buys Lincoln Village Apartments in Phoenix for $6.1M

by Nellie Day July 27, 2016

PHOENIX — Benjamin Covaciu has acquired the 115-unit Lincoln Village apartments in Phoenix for $6.1 million. The community is located at 2211 W. Campbell Ave., within the Black Canyon Corridor. It was built in 1980. The seller was Arie de Jong. Trevor Koskovich, Bill Hahn and Jeff Sherman of Colliers executed the transaction.

July 27, 2016

California Multifamily Western

East Hollywood Apartment Building Sells for $4.2M

by Nellie Day July 27, 2016

LOS ANGELES — A private partnership has purchased a 22-unit apartment building in East Hollywood for $4.2 million. The community is located at 3933 Marathon St. It was built in 1990. The fully occupied complex is not rent controlled. Bryan Glenn of Charles Dunn Co. represented both the buyer and seller, a local private investment company in a 1031 exchange, in this transaction.

July 27, 2016

California Multifamily Western

Patio Garden Apartments in Long Beach Trades for $35.3M

by Nellie Day July 26, 2016

LONG BEACH, CALIF. — An unnamed buyer has purchased the 127-unit Patio Garden Apartments in Long Beach for $35.3 million. The community is located at 4874 E. Los Coyotes Diagonal in the Long Beach Traffic Circle neighborhood. Patio Garden is less than two miles from California State University, Long Beach. It was built in 1958. Greg Harris, Ron Harris, Kevin Green, Joseph Grabiec, Paul Darrow and Michael DiSimone represented both the buyer and the seller in this transaction.

July 26, 2016

Hospitality Oregon Western

Inn at the Shore Hotel in Seaside Sells for $3.1M

by Nellie Day July 26, 2016

SEASIDE, ORE. — An unnamed buyer has acquired the 18-room Inn at the Shore hotel for $3.1 million. The hotel is located at 2275 S. Prom in Seaside, approximately 80 miles northwest of metro Portland. Joseph Kennedy of Crystal Investment Property, a member of Hotel Brokers International, represented the unnamed seller in the transaction.

July 26, 2016

Office Texas

Presidium Group to Expand, Relocate to Citymark in Dallas

by Haisten Willis July 26, 2016

DALLAS — Presidium Group LLC plans to expand and relocate its Uptown Dallas headquarters to Citymark on the Katy Trail. Bradford Commercial Real Estate Services arranged the lease. Presidium is moving Aug. 1 into a 7,912-square-foot space at 3100 McKinnon St., nearly doubling its size. The office tower’s second floor has been reconfigured into a multi-tenant space to accommodate the move. The transaction required subleasing Presidium’s existing headquarters at 2525 McKinnon St., which is being backfilled by telecommunications firm Zinwave Ltd. Ryan Hoopes of Colliers International was Zinwave’s broker for its sublease. Citymark spans 218,926 square feet and is 93 percent occupied.

July 26, 2016

New Jersey Northeast Office

Mack-Cali Realty Sells 100,000 SF Office Building in New Jersey

by Amy Works July 26, 2016

PARSIPPANY, N.J. — Mack-Cali Realty has completed the disposition of an office building, located at 600 Parsippany Road in Parsippany. A joint venture between Bukiet Building Management and Mountain Development Corp. purchased the 100,000-square-foot building free and clear of existing debt for an undisclosed price. The three-story building was 92 percent leased at the time of sale to a variety of tenants, including Aerotek, Level 3 Communications, Sonneborn, Certified Financial Services, Inglesino, Webster, Wyciskala & Taylor, Property Title Group and Dewberry. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephan Simonelli and Marc Duval of HFF represented the seller in the deal.

July 26, 2016

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