sales_and_leases

CBRE Negotiates Sale of Three-Property Multifamily Portfolio in Florida

by Camren Skelton January 22, 2018

INDIAN HARBOUR BEACH AND PALM BAY, FLA. — CBRE has arranged the sale of a three-property multifamily portfolio located in Indian Harbor Beach and Palm Bay. Abacus Capital Group acquired the properties from CFH Group for an undisclosed price. Still Hunter, Chris Smiles, Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented both the buyer and seller in the transaction. The 594-unit portfolio includes two communities in Indian Harbour Beach: The Dunes, located at 201 Harbour City Parkway, and Harbour Pointe Apartments, located at 675 Rosewood Court. In Palm Bay, Abacus acquired The Vinings at Palm Bay, located at 1000 Palm Place Drive. The communities feature 24-hour fitness centers, resort-style pools, poolside kitchens, carports and business centers.

January 22, 2018

Georgia Multifamily Southeast

Cushman & Wakefield Brokers $17.7M Sale of Multifamily Community in East Atlanta

by Camren Skelton January 22, 2018

ATLANTA — Cushman & Wakefield has arranged the $17.7 million sale of Broadway at East Atlanta, a 176-unit apartment community located at 1930 Flat Shoals Road in East Atlanta. Tyler Averitt and Robbie O’Bryan of Cushman & Wakefield arranged the transaction on behalf of the seller, Elite Street Capital. New Jersey-based Liquid Capital acquired the property using a fixed-rate Fannie Mae loan. Constructed in 1967, Broadway at East Atlanta features a fitness center, pool with grilling area, dog park and a playground.

January 22, 2018

Illinois Industrial Midwest

Podolsky Circle Arranges $6.2M Sale of Industrial Facility in Des Plaines, Illinois

by Kristin Harlow January 22, 2018

DES PLAINES, ILL. — Podolsky Circle CORFAC International has arranged the sale of Rand Center in Des Plaines for $6.2 million. The 136,533-square-foot industrial facility consists of four buildings and is located at 1221-1311 Rand Road. The property is currently 94 percent occupied by 43 tenants. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Ameritus Real Estate Investment. Clear Height Properties purchased the asset.

January 22, 2018

Northeast Office Pennsylvania

CBRE Arranges $76.9M Sale, Acquisition Financing for 14-Building Office Complex in Metro Philadelphia

by Amy Works January 22, 2018

KING OF PRUSSIA, PA. — CBRE has arranged the sale and acquisition financing of a 14-building office complex located within Renaissance Park in King of Prussia. Radnor, Pa.-based MLP Ventures acquired the portfolio from Liberty Property Trust for $76.9 million. The 641,325-square-foot portfolio consists of 14 single-story office and flex properties. At the time of sale, the buildings were 87 percent occupied. Major tenants include Marsh & McLennan Cos., IKEA, BB&T, RELX Group and MedRisk. Robert Fahey, Jerry Kranzel, Erin Hannan and Jack Corcoran of CBRE Capital Markets represented the seller, and Nick Harris and Steven Doherty of CBRE Debt & Structured Finance procured the financing for the buyer.

January 22, 2018

Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 635-Unit Self-Storage Facility in Corpus Christi

by Taylor Williams January 19, 2018

CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of Bay Area Mini Storage, a 635-unit self-storage facility located at 2301 Rodd Field Road in Corpus Christi. The property features 95,479 square feet of net rentable space and visibility from State Highway 357, and has undergone three expansions since its original construction in 2003. Jon Danklefs and Michael Mele of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, a private investor. Both parties requested anonymity.

January 19, 2018

Healthcare Oklahoma Texas

Inland Purchases 33,500 SF Medical Office Building in Oklahoma City

by Taylor Williams January 19, 2018

OKLAHOMA CITY — Inland Real Estate Acquisitions LLC has purchased the Surgical Hospital of Oklahoma, a 33,500-square-foot medical office building located at 100 SE 59th St. near downtown Oklahoma City. The inpatient, acute care hospital offers 12 beds and seven operating rooms equipped to handle laser procedures, pain management and short-term hospitalization. Mark Cosenza and David Neboyskey of Inland secured the acquisition on behalf of an Inland affiliate. Mark West, Coler Yoakam, Anthony Frogameni and Michael George of HFF represented the seller, Atlanta-based Pro Realty LLC.

January 19, 2018

Colorado Multifamily Seniors Housing Western

Heavenrich & Co. Arranges $8.4M Sale of 40-Unit Memory Care Community in Colorado

by Nellie Day January 19, 2018

LOVELAND, COLO. — Heavenrich & Co. has arranged the sale of Aspen House, a memory care community consisting of two adjacent properties in Loveland, approximately 50 miles north of Denver. The properties were built in 2010 and 2015 and feature 40 units representing 80 licensed beds. Madison Realty Cos. acquired the community from an undisclosed seller for $8.4 million. Brian Clark, senior director at Heavenrich & Co.’s Denver office, managed the transaction.

January 19, 2018

California Retail Western

CBRE Brokers $5.2M Sale of Shopping Center in San Diego’s Point Loma

by Nellie Day January 19, 2018

SAN DIEGO — CBRE has arranged the sale of Midway Square, a multi-tenant shopping center located at 3112 Midway Drive in San Diego’s Point Loma district. Winston Square LLC sold the property to Midway Square LLC for $5.2 million. Reg Kobzi, Sam Alison, Mike Philbin and Amar Goli of CBRE represented the seller, while Andrew Slade of CIRE Partners represented the buyer in the deal. At the time of sale, the property was 100 percent leased. Express Time, Auto Serve Center, Suspension Plus and Smog Creek occupy the 15,271-square-foot, single-level retail center.

January 19, 2018

California Restaurant Retail Western

Big Al’s Leases 46,000 SF of Retail Space at McCarthy Ranch Marketplace in Silicon Valley

by Nellie Day January 19, 2018

MILPITAS, CALIF. — Big Al’s, a sports bar and entertainment chain, has signed a lease for 46,000 square feet of retail space at McCarthy Ranch Marketplace in Milpitas in Silicon Valley. TMS McCarthy LP is the landlord. Located at 15 Ranch Drive, Big Al’s Silicon Valley will be the company’s fifth center and second in California. The store is slated to open for business in late 2018.

January 19, 2018

Massachusetts Northeast Office

NKF Orchestrates $80M Sale of Office Park in Waltham, Massachusetts

by Amy Works January 19, 2018

WALTHAM, MASS. — NKF Capital Markets has arranged the sale of Stony Brook Office Park in Waltham. Jumbo Capital and Sound Mark Partners acquired the office park for $80 million. Robert Griffin, Edward Maher, Matthew Pullen, James Trible and Samantha Hallowell of NKF Capital Markets represented the seller, Clarion Partners, in the deal. Situated on 16 acres, the office park comprises four interconnected buildings totaling 270,196 square feet of institutional-quality office space at 130 Turner St. and a 3,925-square-foot retail asset at Five Turner St. At the time of sale, the property was 100 percent leased, anchored by Brainshark, Wolters Kluwer, TIAA, Stanley Black & Decker, Ultratech, DDJ Capital Management and Wells Fargo.

January 19, 2018

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