sales_and_leases

JLL Brokers Sale of 1.6 MSF Industrial Portfolio in Rio Grande Valley

by Taylor Williams January 24, 2018

MCALLEN, TEXAS — JLL has brokered the sale of the Sharyland Business Park portfolio, a 10-property portfolio of industrial assets totaling 1.6 million square feet in the Rio Grande Valley metro of McAllen. The sale includes 111 acres of developable land. The properties are located near the Anzalduas National Crossing and the McAllen International Airport and were approximately 95 percent leased at the time of sale. Laredo, Texas-based Killiam Development Ltd. acquired the portfolio from IDI Logistics Inc., an industrial developer with regional offices around the country. Dustin Volz and John Huguenard of JLL brokered the deal.

January 24, 2018

Hunter Arranges $68.8M Sale of Three Marriott-Branded Hotels in Florida

by Camren Skelton January 24, 2018

ATLANTA — Atlanta-based Hunter Hotel Advisors has arranged the $68.8 million sale of three Marriott-branded hotels located throughout Florida. Trey Scott, Shamir Patel, Robert Taylor and Steve Taylor of Hunter arranged the transaction on behalf of the seller, an affiliate of Rockwood Capital. An affiliate of Ocean Properties acquired two of the hotels in the portfolio — the 153-room Courtyard Sarasota/Bradenton and the 149-room Springhill Suites Tampa Westshore, both in the Tampa Bay area. An undisclosed private investor acquired the 152-room Courtyard Boynton Beach in Palm Beach County. Ocean Properties will continue to manage all three recently renovated hotels under a long-term management agreement.

January 24, 2018

Georgia Retail Southeast

Cushman & Wakefield Brokers $68M Sale of New Whole Foods-Anchored Center in Metro Atlanta

by Camren Skelton January 24, 2018

CHAMBLEE, GA. — Cushman & Wakefield has brokered the sale of Peachtree Station, a 106,372-square-foot retail center in Chamblee, a city 15 miles north of downtown Atlanta. The center is located at 5001 Peachtree Blvd. and features 1,000 feet of frontage along the thoroughfare. Fain Hicks of Cushman & Wakefield arranged the transaction on behalf of the seller and developer, S.J. Collins Enterprises. Dallas-based Sarofim Realty Advisors acquired the center for approximately $68 million, according to the Atlanta Business Chronicle. The property was delivered in 2017 and was fully preleased prior to completion. A 45,000-square-foot Whole Foods Market anchors the center. Additional tenants include Starbucks Coffee, Verizon Wireless, CRS Outdoor, Mattress Firm, The Cook’s Warehouse, Banfield Pet Hospital, Zoë’s Kitchen and Chipotle Mexican Grill.

January 24, 2018

Georgia Industrial Southeast

Monmouth Acquires New 831,764 SF Industrial Building in Savannah for $57.5M

by Camren Skelton January 24, 2018

SAVANNAH, GA. — Monmouth Real Estate Investment Corp. has acquired an 831,764-square-foot industrial building located at 590 Northport Parkway in Savannah for $57.5 million. The company acquired the asset from CRG, the real estate development arm of Clayco, which delivered the building last year. The warehouse is situated on approximately 62.4 acres within the two-building Northport Commerce Center, roughly seven miles from the Port of Savannah. The property is net-leased for 10 years to Shaw Industries Inc., a Georgia-based flooring supplier and wholly owned subsidiary of Berkshire Hathaway Inc. Esmael Hill of The Net Lease Group (NLG) represented the seller in the transaction. NLG also arranged equity to finance the construction of the facility, which CRG originally developed on a speculative basis.

January 24, 2018

Industrial Texas

HFF Arranges Sale of 49,640 SF Industrial Asset in Houston

by Taylor Williams January 24, 2018

HOUSTON — HFF has arranged the sale of 500 Century Plaza, a 49,640-square-foot industrial property in Houston. Built in 1984, the property features office space, 14 grade-level doors and 14-foot clear heights. Trent Agnew, Rusty Hamlyn and Johnny Kight of HFF represented the seller, a joint venture between Archway Properties and NewQuest Properties, in the transaction. Houston-based Finial Group purchased the property for an undisclosed price.

January 24, 2018

Retail Southeast Virginia

JCR Buys Shopping Center in Northern Virginia from EDENS for $31M

by Camren Skelton January 24, 2018

MANASSAS, VA. — The JCR Cos. has acquired the Center at Innovation, a 101,990-square-foot shopping center in Manassas, a city in northern Virginia, for $31 million. The center is located on Nokesville Road, just west of the interchange with Prince William Parkway. HFF arranged the transaction on behalf of the seller, EDENS. Super Target shadow-anchors the center, which was more than 90 percent leased at the time of sale to tenants including T.J. Maxx, PetSmart, Chick-fil-A, Tropical Smoothie Café, GameStop, Verizon Wireless and Red Robin. JCR plans to sell the three pad sites that are currently leased to Chick-fil-A, SunTrust Bank and Red Robin, and to fully lease the inline space. Constructed in 2008, Center at Innovation includes five buildings and 482 parking spaces. The property marks JCR’s second shopping center acquisition in Manassas.

January 24, 2018

Healthcare Texas

Ridgeline Sells 43,119 SF Medical Office Building in Flower Mound

by Taylor Williams January 24, 2018

FLOWER MOUND, TEXAS — Ridgeline Capital Partners has sold Prairie View Medical Plaza, a 43,119-square-foot medical office building in the Dallas-Fort Worth (DFW) metro of Flower Mound. Built in 2013, the property was 100 percent occupied at the time of sale to tenants providing dermatology, pediatrics and dental services. The property includes a lab, diagnostics center and a pharmacy. The buyer was not disclosed.

January 24, 2018

Multifamily Texas

PPA Group Sells 168-Unit Apartment Community in Waco

by Taylor Williams January 24, 2018

WACO, TEXAS — The PPA Group, an Austin-based investment firm, has sold Arlington Farms, a 168-unit multifamily community located at 1800 Primrose Drive in Waco. The sale includes the 15 acres on which the property is situated. Amenities include a pool, basketball court, tennis court and on-site laundry facilities. Moses Siller and Scott LaMontagne of JLL represented The PPA Group in the sale of the property, which was purchased by TTHFD Investments LLC.

January 24, 2018

Illinois Midwest Office

SVN Arranges $15.2M Sale of City Block in Chicago’s Fulton Market

by Kristin Harlow January 24, 2018

CHICAGO — SVN | Chicago Commercial has arranged the sale of an entire city block located at 400 N. May St. in Chicago’s Fulton Market. The block is comprised of a 75,000-square-foot timber and beam office building and 43,000 square feet of land currently being used as a parking lot. Stephen Cusano, Chad Schroedl, Drew Dillon and James Mead of SVN represented the seller, May St. Investments LLC, which owned the property for over 30 years. MCZ Development purchased the property.

January 24, 2018

Illinois Industrial Midwest

Merit Partners Brokers Sale-Leaseback of 38,543 SF Industrial Building in Mundelein, Illinois

by Kristin Harlow January 24, 2018

MUNDELEIN, ILL. — Merit Partners LLC has brokered the sale-leaseback of a 38,543-square-foot industrial building in Mundelein. Venture One Real Estate acquired the property through its acquisition fund, VK Industrial IV LP, which is a partnership between Venture One and Kovitz Investment Group. The building is situated on three acres at 939 Tower Road. The sale-leaseback was completed with American Marketing Services & Consultants Inc. (AMSC) David Liebman of Merit Partners brokered the sale-leaseback. He also represented AMSC in the original site acquisition and build-to-suit transaction. The property features a clear height of 24 feet, four exterior docks, one drive-in door and 6,281 square feet of office space.

January 24, 2018

Newer Posts

Older Posts