sales_and_leases

FCP, Kane Realty Sell Raleigh Multifamily Development for $93.5M

by John Nelson January 5, 2016

RALEIGH, N.C. — Federal Capital Partners (FCP) and Kane Realty Corp. have sold Allister North Hills, a 434-unit luxury apartment community in Raleigh, for $93.5 million. The property is located at I-440 and Six Forks Road in Raleigh’s Midtown district. FCP and Kane developed the community in 2013. Allister North Hills was nearly 95 percent occupied at the time of sale. Community amenities include two pools, a fitness center, business center, outdoor terraces, community room, dog park and other green spaces. Individual units, each of which have a balcony, feature granite countertops, stainless steel appliances, washers and dryers and ceramic-tiled bathrooms. Sean Wood and Blake Okland of ARA represented FCP and Kane in the transaction.

January 5, 2016

Midwest Ohio

Institutional Property Advisors Arranges $27.7M Sale of Two Retail Properties in Northeast Ohio

by Christina Cannon January 5, 2016

AMHERST AND SHEFFIELD VILLAGE, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of a two-property retail portfolio in Northeast Ohio for $27.7 million, which equates to $143 per square foot. The portfolio is comprised of Amherst Marketplace and Sheffield Crossing. Amherst Marketplace, located at 2201 Kresge Drive in Amherst, includes tenants such as Giant Eagle, Monster Tan and Best Cuts. Sheffield Crossing tenants include Giant Eagle, Cracker Barrel, SVS Vision Holding, Arby’s Verizon Wireless and BP Exploration & Oil. The property is located at 5231 Detroit Road in Sheffield Village. Craig Fuller, Scott Wiles and Erin Patton of IPA, along with Seth Richard and Laurie Ann Drinkwater of Marcus & Millichap, represented the seller and procured the buyer, who were both undisclosed.

January 5, 2016

Illinois Industrial Midwest

Avison Young Arranges 51,624 SF Industrial Lease in Libertyville, Illinois

by Christina Cannon January 5, 2016

LIBERTYVILLE, ILL. — Avison Young has arranged a 51,624-square-foot long-term lease for an office and warehouse space in Libertyville, approximately 40 miles northwest of Chicago. All American Containers, a global packaging solutions company, will begin occupying space in the north portion of the building this spring. Bridge Development Partners developed the facility, located at 851 E. Park Ave. The two-building project, which totals 406,000 square feet, features 32-foot clear heights, flexible dock space and ample truck and car parking. Each building is divisible by 20,000 square feet and All American Containers’ lease includes 4,500 square feet of office space. Keith Puritz, Brett Kroner and Eric Fischer of Avison Young represented the tenant. Michael Fonda and John Hauser of Avison Young represented Bridge Development Partners.

January 5, 2016

Healthcare Midwest Wisconsin

The Boulder Group Brokers $3.6M Sale of Medical Property in Milwaukee

by Christina Cannon January 5, 2016

MILWAUKEE, WIS. — The Boulder Group has brokered the sale of a 16,709-square-foot medical property in Milwaukee for $3.6 million. Aurora Health Care is the sole tenant of the property located at 5818 W. Capitol Drive. The property is positioned as an outparcel to the Midtown Center, which is anchored by Walmart and Pick ‘n Save. The Midtown Center also includes tenants such as Planet Fitness, Firestone, Foot Locker, GNC, Rue 21 and Starbucks. The property was built in 1997, and Aurora Health Care’s lease expires in 2027. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based real estate investment company. The buyer is an East Coast-based real estate investment fund and was self-represented.

January 5, 2016

Retail Texas

M&M Arranges Sale of 27,413 SF Retail Property in Metro Dallas

by Haisten Willis January 4, 2016

BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of Shops at Cheek Sparger, a 27,413-square-foot, multi-tenant retail property located in Bedford. Bill Jordan of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Jordan also secured the buyer, a private investor. Shops at Cheek Sparger is located at 3700 Cheek Sparger Road. The project was developed in three phases and is 94 percent occupied.

January 4, 2016

California Multifamily Western

DaVinci Apartments in Davis Sells for $16M

by Nellie Day January 4, 2016

DAVIS, CALIF. — An unnamed buyer has purchased the 31-unit DaVinci Apartments in Davis for $16 million. It is located at 1666 Da Vinci Court. The community was built in 2005. It is situated walking distance from the UC Davis campus. Adam Levin and Robert Johnston of Marcus & Millichap represented both the buyer and seller in this transaction.

January 4, 2016

Industrial Washington Western

Cabot Properties Acquires Federal Way Corporate Center in Seattle for $7.6M

by Nellie Day January 4, 2016

SEATTLE — Cabot Properties has purchased Federal Way Corporate Center, a 73,498-square-foot industrial park in the Seattle submarket of Federal Way, for $7.6 million. The park is located at 34210 9th Ave. South. It was built in 2001. The facility is leased to three tenants. Brian Bruininks and Jeff Crane of the Andover Company/CORFAC International represented both the buyer and seller, Fedway Group LLLC, in this transaction.

January 4, 2016

California Industrial Western

Bestronics Leases 73,000 SF of Industrial Space in San Jose

by Nellie Day January 4, 2016

SAN JOSE, CALIF. — Bestronics has leased 73,000 square feet of industrial space in San Jose. The space is located at 2243 Lundy Ave. Bestronics is an electronics contract manufacturer. Dan Hollingsworth, Steve Pace, Tom McGovern and Karen Sigl of Cushman & Wakefield represented the landlord, LD Odyssey.

January 4, 2016

Colorado Multifamily Western

Wadsworth Arms Apartments in Arvada Sells for $3.1M

by Nellie Day January 4, 2016

ARVADA, COLO. — A local buyer has purchased the 26-unit Wadsworth Arms apartment complex in Arvada for $3.1 million. The community is located at 6700 Wadsworth Arms. It was built in 1957. Josh Newell of Pinnacle Real Estate Advisors represented both the buyer and seller in this transaction.

January 4, 2016

Florida Multifamily Southeast

Greystone, ALTA Developers Sell The Mile in Miami to Monogram Residential Trust for $48M

by John Nelson January 4, 2016

MIAMI — Greystone and ALTA Developers have jointly sold The Mile, a 13-story, 120-unit luxury apartment development in Miami, to Monogram Residential Trust Inc., an owner, operator and developer of luxury apartment communities. The sales price was $48 million, according to several media outlets. The Mile is located at 3622 S.W. Coral Way near Miami’s Miracle Mile shopping district. The Mile was topped off in July 2015 and is set to open in the first quarter of 2016. Behar Font & Partners designed the apartment project, which will feature an indoor/outdoor social deck, fitness center, GE stainless steel appliances, white quartz countertops, designer cabinets, balconies and patios, swimming and soaking pools, gated parking and controlled electronic access. Jaret Turkell, Jeff Julien and Maurice Habif of HFF represented the sellers in the off-market transaction.

January 4, 2016

Newer Posts

Older Posts