sales_and_leases

NGKF Capital Markets Brokers Sales of Three Orlando Assets Totaling $92.2M

by John Nelson November 20, 2015

ORLANDO, FLA. — NGKF Capital Markets has recently completed three separate investment sale transactions in the metro Orlando area totaling nearly $100 million. Most recently, the company closed the $21.2 million sale of Vista Centre Shoppes, a 98,411-square-foot shopping center near Disney World. NGKF Capital Markets represented the buyer, GL Orlando Vista LLC, a real estate investment firm based in South Florida. Auction.com represented the seller, TSO Vista Centre. NGKF Capital Markets also brokered the sale of two multifamily communities on behalf of the seller, CWCapital Asset Management LLC. The properties, Victoria Place Apartments and Charter Pointe Apartments, sold at a combined $71 million. Adam Greenberg, Michael Lapointe, Michael Lohmann, Scott Gordon and Stephanie Ceballos comprise the NGKF Capital Markets team that brokered all three transactions.

November 20, 2015

Multifamily Texas

Stream Realty Partners Brokers Sale of Canyon Springs Apartments in Waco

by Haisten Willis November 20, 2015

WACO, TEXAS — Stream Realty Partners has arranged the sale of Canyon Springs Apartments. The 80-unit, Class A apartment community is located at 2301 Woodgate Drive in Waco. Kelly Witherspoon and Charlie Marrs of Stream Realty’s Austin office represented the seller, Southern Financial Group, in the transaction. The newly built property consists of eight two-story, townhome-style apartment buildings. At the time of the sale, the 4.2-acre property was 96 percent occupied. Property amenities include controlled-access gates, perimeter fencing and a community clubhouse. Jeff Patterson leads Stream’s multifamily division.

November 20, 2015

Industrial Mixed-Use New York Northeast Office

IRG Purchases 2 Million SF Pfizer Campus in Pearl River, N.Y.

by Amy Works November 20, 2015

PEARL RIVER, N.Y. — Industrial Realty Group (IRG) has acquired the more than 2 million-square-foot Pfizer campus in Pearl River, located 20 miles north of Manhattan. IRG plans to transform the 200-acre campus into a dynamic mixed-use, multi-tenant campus, which will bring businesses and job opportunities to Rockland County. The acquisition includes approximately 38 buildings of laboratory, manufacturing, office and support buildings. Pfizer will retain and operate 500,000 square feet and lease back approximately 1.2 million square feet from IRG. Terms, including sales price, of the acquisition were not released. IRG plans to transform the 2 million-square-foot Pfizer campus in Pearl River, N.Y., into a mixed-use, multi-tenant campus.

November 20, 2015

California Office Western

Clarion Partners Buys Pacific Technology Park in San Diego for $90M

by Nellie Day November 19, 2015

SAN DIEGO — Clarion Partners has purchased Pacific Technology Park, a 544,352-square-foot office park in San Diego, for a reported $90 million. The park is located at 9389-9477 Waples Street in the Sorrento Mesa submarket. Pacific Technology Park was 80 percent leased at the time of sale. Notable tenants include Thermo Fisher, Qualcomm, Novartis, DirectMed, True Temper, Raytheon, Cintas and Tritech. Clarion represented itself, while Jeffrey Cole, Jeff Chiate and Ed Hernandez of Cushman & Wakefield represented the seller, CBRE Global Investors.

November 19, 2015

Arizona Retail Western

Lee & Associates Arranges Sale of Two Arizona Shopping Centers for $16.4M

by Nellie Day November 19, 2015

GLENDALE AND TEMPE, ARIZ. — Lee & Associates has arranged the sale of two Arizona shopping centers for a combined $16.4 million. Properties include 51st & Olive Square, an 88,225-square-foot shopping center located in Glendale; and Playa Del Norte, an 11,499-square-foot shopping center located in Tempe. Patrick Dempsey and Jan Fincham of Lee & Associates worked on behalf of both the buyer, 51st & Olive Station LLC, and the undisclosed seller in the 51st & Olive Square transaction. Dempsey, Fincham, Chris McClurg and Matt Frederick of Lee & Associates co-listed and secured the buyer, Crow Holdings Capital Real Estate, in the Playa Del Norte transaction.

November 19, 2015

Midwest Missouri Multifamily Seniors Housing

IPA Arranges Sale of 234-Unit Seniors Housing Community in Missouri for $17M

by Christina Cannon November 19, 2015

ST. CHARLES, MO. — Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving real estate investors, has arranged the sale of Carrington Place of St. Charles, a 234-unit, 294-bed continuing care retirement community in St. Charles, a northwestern suburb of St. Louis. The $17 million sales price equates to approximately $72,650 per unit. The seller was not disclosed. The buyer was a private owner/operator based in Chicago. Mark Myers, Josh Jandris and Charles Hilding of IPA represented the seller and procured the buyer along with and Marcus & Millichap associate Richard Lynn. Carrington Place of St. Charles features 138 independent living units, 32 memory care units, 27 assisted living units, and 66 private and semi-private skilled nursing beds.

November 19, 2015

Midwest Multifamily Ohio

Marcus & Millichap Arranges $4.9M Sale of 120-Unit Apartment Community in Ohio

by Christina Cannon November 19, 2015

LANCASTER, OHIO — Marcus & Millichap has arranges the sale of a 120-unit apartment community in Lancaster for $4.9 million. Oak Valley is located at 1899 Independence Blvd. and was built between 1993 and 1998. The property offers one- and two-bedroom townhomes and ranch units. Jordan Marshall, Richard Lattro, Daniel Burkons, Michael Barron and Joshua Wintermute of Marcus & Millichap listed the property on behalf of the sellers and procured the buyer in the transaction. Both parties were undisclosed.

November 19, 2015

Illinois Midwest Mixed-Use

SVN | Chicago Commercial Brokers $2.5M Sale of Mixed-Use Building in Chicago

by Christina Cannon November 19, 2015

CHICAGO — SVN | Chicago Commercial has brokered the $2.5 million sale of a 6,000-square-foot, mixed-use building in Chicago. The building is located at 615 W. Randolph St. Donnie Madia of One Off Hospitality Group purchased the building and operates the Avec Restaurant on the ground floor. The second floor is used for office space, and the third and fourth floors are residential. Scott Maesel, Chad Schroedl and Drew Dillon of SVN | Chicago Commercial represented the seller, Dorothy Jankowski, in the transaction.

November 19, 2015

Multifamily New Jersey Northeast

Redwood Realty Advisors Brokers $16.4M Sale of Two Apartment Buildings in New Jersey

by Amy Works November 19, 2015

HACKENSACK, N.J. — Redwood Realty Advisors has arranged the sale of two apartment properties located in Hackensack. Totaling 99 apartment units, the assets sold for $16.4 million. Built in 1975, the properties include the 46-unit Driftwood Apartments at 20 Second St., and the 53-unit El Dorado Apartments at 240 Anderson St. The undisclosed buyer plans to reposition the properties. Thomas McConnell, Kevin McCrann, Michael Scrima and Jeremy Wernick of Redwood Realty represented the seller, Rose Realty Inc., in the transaction.

November 19, 2015

Georgia Multifamily Southeast

Multi Housing Advisors Arranges $23.9M Sale of Apartment Community in Atlanta

by John Nelson November 19, 2015

ATLANTA — Multi Housing Advisors (MHA) has brokered the $23.9 million sale of 1500 Oak, a 368-unit apartment community located in Atlanta. The property recently received a comprehensive renovation and now features new cabinets with brushed nickel hardware, new bathtubs, granite countertops, stainless steel sinks, two-inch wood blinds, vinyl plank flooring and energy efficient toilets. Josh Goldfarb and Tyler Averitt of MHA’s Atlanta office represented the seller, Cortland Partners, in the transaction. Engineering Partners purchased the property.

November 19, 2015

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