sales_and_leases

Marcus & Millichap Brokers $9.5M Sale of Shopping Center in Fort Walton Beach

by John Nelson December 10, 2015

FORT WALTON BEACH, FLA. — Marcus & Millichap has brokered the $9.5 million sale of Choctaw Plaza, a 97,171-square-foot shopping center located at 111 Racetrack Road N.W. in Fort Walton Beach. The property’s tenant roster includes Big Lots, Dollar General, Rent A Center, Compass Bank, Coldwell Banker and U.S. and Florida government agencies. Marc Strauss and Al Palacios of Marcus & Millichap represented the seller, a partnership based in Destin, Fla., in the transaction. Cory Gross of Marcus & Millichap’s Denver office secured and represented the buyer, a limited liability company based in Syasset, N.Y.

December 10, 2015

Colorado Retail Western

Marcus & Millichap Arranges $35M Sale of Woodmen Commons in Colorado Springs

by Nellie Day December 9, 2015

COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the $35 million sale of Woodmen Commons, a 156,010-square-foot regional power center in Colorado Springs. Garrette Matlock of Marcus & Millichap and Ryan Bowlby of The Matlock Group represented the seller, Rosenbaum-Dean, and procured the buyer, a private investor, in the transaction. The property is home to tenants including Sam’s Club, Bed Bath & Beyond, Marshalls, Dressbarn, Jared, Kirkland’s and Sketchers.

December 9, 2015

California Hospitality Western

Comfort Suites in Oakley Changes Hands

by Nellie Day December 9, 2015

OAKLEY, CALIF. — The 80-room Comfort Suites in the San Francisco Bay Area submarket of Oakley has sold to an unnamed buyer for an undisclosed sum. The hotel is located at 5549 Bridgehead Road. The new owner plans to convert the hotel to a Best Western. The Ehmer Group, a San Francisco-based member of Hotel Brokers International, represented the seller.

December 9, 2015

Georgia Multifamily Southeast

Vista Buys Back Two Vista-Developed Apartment Communities in Atlanta MSA for $56.8M

by John Nelson December 9, 2015

ATLANTA — Vista, an Atlanta-based owner and developer of multifamily communities in the Southeast, has purchased two apartment communities in metro Atlanta totaling $56.8 million, or roughly $106,000 per unit. Vista originally developed both complexes and plans to renovate the assets to best-in-submarket status. The properties include the 312-unit Oakwood Vista in Norcross near I-85 and Jimmy Carter Boulevard and the 224-unit Parkway Vista in Atlanta near the I-85/I-285 junction. Vista originally developed Oakwood Vista in 2003 and Parkway Vista in 2002. Vista funded both acquisitions using a combination of permanent financing from Freddie Mac, preferred equity and equity provided by Eduard de Guardiola, the founder of Vista.

December 9, 2015

Multifamily New Jersey Northeast

Houlihan-Parnes Realtors Brokers $27.3M Sale of Inverness Apartments in New Jersey

by Amy Works December 9, 2015

WESTVILLE, N.J. — Houlihan-Parnes Realtors has arranged the sale of Inverness Apartments, a garden-style apartment complex located at 5600 Shetland Way in Westville. Coolidge Inverness LLC sold the property to an undisclosed buyer for $27.3 million. Situated on more than 30 acres, the property features 368 multifamily units. Robert Tiburzi of Houlihan-Parnes Realtors brokered the transaction.

December 9, 2015

Arizona Retail Western

CBRE Arranges $24.8M Sale of Village Center in Phoenix

by Nellie Day December 8, 2015

PHOENIX — CBRE has arranged the $24.8 million sale of Village Center, a 171,129-square-foot shopping center located in Phoenix. Jesse Goldsmith, Steve Julius, George Good and Christian Williams of CBRE negotiated the sale. Camino Verde Center LLC acquired the property from an undisclosed seller.

December 8, 2015

Industrial New Jersey Northeast

Sitex Group Acquires 20-Acre Site in New Jersey for Spec Industrial Development

by Amy Works December 8, 2015

AVENEL, N.J. — Sitex Group has acquired a 20-acre site located at 215 Blair Road in Avenel within the Exit 12 submarket in New Jersey for an undisclosed price. The property includes a 175,000-square-foot warehouse facility with four acres of trailer parking, as well as excess land for development of a 200,000-square-foot cross-dock distribution facility. Sitex plans to rehabilitate the existing property, which is a former C&S Wholesale Grocers/White Rose Foods warehouse, and construct a 200,000-square-foot speculative logistics facility with 36-foot ceiling heights, 53 loading docks and several acres of on-site trailer parking. Mindy Lissner, William Waxman, Steven Beyda, Kevin Dudley, Robert Pine, Jennifer Ferrara and Susan Strauss-Rickwalder of CBRE represented the buyer and undisclosed seller in the transaction.

December 8, 2015

Florida Multifamily Southeast

ARA Newmark Arranges $51.4M Sale of Apartment Complex in Orlando

by John Nelson December 8, 2015

ORLANDO, FLA. — ARA Newmark has brokered the $51.4 million sale of Amara at MetroWest, a 411-unit, Class A apartment community in Orlando. The property is part of MetroWest, the $960 million, 1,800-acre master-planned community that is situated five miles north of Universal Resorts and six miles southwest of downtown Orlando. Built in 1997, the property’s amenities include a 24-hour fitness center, resident business center, playground, tennis court, clubhouse with a media lounge, car care area, two swimming pools and outdoor barbecue grills with picnic areas. Kevin Judd, Patrick Dufour, Scott Ramey, Marc deBaptiste and Dick Donnellan of ARA Newmark represented the seller, Fairfield Amara LLC, in the transaction. The buyer was Salt Lake City-based Bridge Investment Group Partners, managers of the ROC Funds.

December 8, 2015

Illinois Midwest Multifamily

Interra Realty Brokers Sale of Two Properties in Chicago for $2.4M

by Christina Cannon December 8, 2015

CHICAGO — Interra Realty has arranged the sale of two properties in Chicago for a total of $2.4 million in separate transactions. A 12-unit mixed-use property, located at 5355 W. Irving Park Road, sold for $1.5 million. Built in 1927, the property includes 10 two-bedroom/one-bathroom apartment units and two retail spaces leased to a barbershop and fitness studio. A 12-unit apartment building, located at 2854 N. Lowell Ave., sold for $975,000. Constructed in 1930, the building contains all one-bedroom units. Joe Smazal and James Clough of Interra represented both parties in the two transactions. Patrick Kennelly also assisted in brokering the sale of the property located at 2854 N. Lowell Ave. All parties in the transactions were undisclosed.

December 8, 2015

Illinois Midwest Retail

Boulder Group Arranges $2.2M Sale of Net-Leased Property in Schaumburg, Illinois

by Christina Cannon December 8, 2015

SCHAUMBURG, ILL. — The Boulder Group has arranged the sale of a single-tenant, net-leased retail property in Schaumburg for $2.2 million. The 4,500-square-foot building, located at 1430 E. Algonquin Road, is leased to Culver’s, a fast-casual restaurant chain, which has 15 years remaining on its lease. The property is positioned as an outparcel to an Aldi-anchored shopping center. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based developer. The buyer was a high-net-worth individual.

December 8, 2015

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