sales_and_leases

JLL Brokers Sale of 17,000 SF Flex Property North of Chicago

by Christina Cannon December 23, 2015

LAKE FOREST, ILL. — JLL has brokered the sale of a 17,000-square-foot industrial and office property in Lake Forest, approximately 30 miles north of Chicago. North American Herb and Spice Co. purchased the property from Rothbart LLC for an undisclosed price. Technique Engineering formerly occupied the space but will relocate to a 9,600-square-foot space at 968-972 Northpoint Blvd. in Waukegan. The property that North American Herb and Spice Co. purchased is located at 13950 Polo Drive and features 19-foot clear heights and 800 amps of power. Francesca DeAmicis of JLL represented the landlord, Rothbart LLC. North American Herb and Spice Co. was self-represented in the transaction, and Paine-Wetzel TCN Worldwide represented Technique Engineering.

December 23, 2015

Nevada Retail Western

Sterling Organization Acquires Las Vegas Shopping Center for $20M

by Nellie Day December 22, 2015

LAS VEGAS — Sterling Organization has acquired Smith’s Shopping Center, a 108,731-square-foot, grocery-anchored retail plaza in Las Vegas, for $20 million. The asset was acquired from a subsidiary of Kirkorian Enterprises via Sterling Organization’s institutional stabilized fund Sterling United Properties I LP. The center is fully occupied by tenants including Subway, The UPS Store, Verizon and H&R Block.

December 22, 2015

California Retail Western

Lee & Associates Arranges $15M Sale of Saks Building in Santa Barbara

by Nellie Day December 22, 2015

SANTA BARBARA, CALIF. — Lee & Associates has arranged the over $15 million sale of a 48,813-square-foot Saks Off 5th Avenue building located in downtown Santa Barbara. Stephen Leider and Clarice Clarke of Lee & Associates represented the seller, State Street Properties LLC, in the transaction.

December 22, 2015

Mixed-Use North Carolina Southeast

FCP, Kane Realty Complete Purchase of Development Site in Raleigh’s Warehouse District

by John Nelson December 22, 2015

RALEIGH, N.C. — Federal Capital Partners (FCP) and Kane Realty Corp. have formed a joint venture to purchase the 2.5-acre Dillon Supply site in downtown Raleigh’s Warehouse District. The site is bounded by South West, West Martin, South Harrington and West Hargett streets. The joint venture will break ground in January on a mixed-use development at the site, which will comprise a 17-story office tower, 40,000 square feet of retail space, two six-story apartment buildings totaling 261 residences and a 950-space parking deck. Duda|Paine Architects LLP designed the office portion and J. Davis Architects designed the residential component of the development. Justin Good and Allan Lynch of HFF represented FCP and Kane Realty in the transaction.

December 22, 2015

Industrial Texas

ML Realty Partners Arranges Industrial Leases in Metro Dallas

by Haisten Willis December 21, 2015

COPPELL, TEXAS — ML Realty Partners has arranged four industrial leases in Coppell. Park West Crossing, a recent four-building development, has leased 95,125 square feet to Classic Auto Air Manufacturing, JAS Forwarding (USA), DSBJ Precision Mechanical and JFC International. Park West Crossing is located immediately north of Dallas/Fort Worth International Airport with frontage on Freeport Parkway.

December 21, 2015

California Multifamily Student Housing Western

FPA MultiFamily Acquires 942-Bed Student Housing Community Near San Diego State for $69.5M

by Nellie Day December 21, 2015

SAN DIEGO — FPA MultiFamily LLC has purchased Fifty Twenty-Five, a 260-unit, 942-bed Class A luxury student housing community serving San Diego State University, for $69.5 million. HFF marketed the asset exclusively on behalf of an undisclosed seller. Directors Hunter Combs and Zack Holderman led the HFF team. Completed in 2010, Fifty Twenty-Five is a LEED Gold-certified property offering a mix of studio, two- and four-bedroom floor plans averaging 951 square feet each. Amenities include flat-screen televisions, high-speed Internet, modern furnishings, full-size washers and dryers, walk-in closets and fully equipped kitchens. The community also features a resort-style swimming pool, 24-hour fitness center, study rooms, 24-hour computer center, coffee bar, tanning bed, shuttle service and 598-space parking garage. The property is situated less than one mile from campus.

December 21, 2015

California Industrial Western

Commerce Plaza One Buys Industrial Park in San Diego for $5M

by Nellie Day December 21, 2015

SAN DIEGO — Commerce Plaza One has acquired a 32,717-square-foot industrial park in the San Diego submarket of Chula Vista for $5 million. The park is located at 925 Hale Place. It was built in 1987. Tracy and Kimberly Clark of Voit represented the seller, Hudson WP Partners, in this transaction.

December 21, 2015

Colorado Multifamily Western

Bluffs West Apartments in Colorado Springs Sells for $2.8M

by Nellie Day December 21, 2015

COLORADO SPRINGS, COLO. — Chestnut Heights LLC has purchased the 55-unit Bluffs West apartment complex in Colorado Springs for $2.8 million. The community is located at 4339 North Chestnut St. It was built in 1968. ARA’s Kevin McKenna and Saul Levy represented the seller, BAC Enterprises LLC, in this transaction.

December 21, 2015

North Carolina Office Southeast

HFF Brokers $71.6M Sale of 32-Story Office Tower in Downtown Charlotte

by John Nelson December 21, 2015

CHARLOTTE, N.C. — HFF has brokered the sale of a 32-story, 330,483-square-foot office tower located at 121 W. Trade St. in downtown Charlotte. Lincoln Property Co.’s affiliate, LPC Realty Advisors I LP, purchased the asset from a partnership controlled by The Dilweg Cos. for $71.6 million, according to the Charlotte Business Journal. Lincoln Property Co. purchased the asset in conjunction with local affiliate Lincoln Harris on behalf of a pension fund client. Tenants of the office tower include Chicago Bridge & Iron, SAS Institute, Caudle & Spears and Brookwood Associates. The building also features the Charlotte City Club on the top two levels and parking on levels two through nine. Ryan Clutter led HFF’s investment sales team representing the seller.

December 21, 2015

Illinois Industrial Midwest

Transwestern Brokers Sale of Two-Property Industrial Portfolio in Metro Chicago

by Christina Cannon December 21, 2015

SKOKIE AND MORTON GROVE, ILL. — Transwestern has brokered the sale of a two-building industrial portfolio in metro Chicago for an undisclosed price. The portfolio includes a 209,098-square-foot property located at 6123-6227 Monroe Court in Morton Grove and a 179,201-square-foot building located at 3500 Oakton St. in Skokie. Edler & Company Inc. sold the portfolio to an undisclosed buyer. The property in Morton Grove is comprised of five smaller units and features 28-foot clear heights. Denise Stein Chaimovitz of Transwestern represented the seller.

December 21, 2015

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