sales_and_leases

Colliers Arranges $18.4M Sale of Four-Building Office Portfolio in Upstate South Carolina

by Camren Skelton January 12, 2018

GREENVILLE, S.C. — Colliers International has arranged the $18.4 million sale of Axis Office Park, a four-building office portfolio located at 350-352 Halton Road in Greenville. Formerly occupied by Fluor, the buildings total 228,000 square feet. Colliers arranged the transaction on behalf of the buyer, Tempus Real Estate Investments. Other terms of the deal were not disclosed. Taylor Allen and Brantley Anderson of Colliers will handle the property’s leasing assignment, and Brendan Gower of Colliers will provide real estate management services. In addition, LCK will provide project management services for the property.

January 12, 2018

Illinois Midwest Multifamily

Kiser Group Brokers $3.6M Sale of Multifamily Property in Chicago

by Kristin Harlow January 12, 2018

CHICAGO — Kiser Group has brokered the sale of a 41-unit multifamily property in Chicago’s Buena Park neighborhood for $3.6 million. The building, located at 4070 N. Kenmore Ave., was originally built as a hotel in the 1920s. All 41 units feature studio floor plans. Lee Kiser and Rick Ofman brokered the transaction. A local landlord purchased the asset from 4070 Kenmore Corp., which had owned the property for more than 30 years.

January 12, 2018

California Retail Western

RAF Pacifica Group Acquires Retail Portion of Pacific Station in Encinitas for $24M

by Nellie Day January 11, 2018

ENCINITAS, CALIF. — RAF Pacifica Group has purchased the retail portion of Pacific Station, a 100,000-square-foot mixed-use asset featuring residential office and retail space in Encinitas. Loja Retail Partners sold the asset for $24 million. Amazon, Whole Foods and Wells Fargo, among others, occupy the 39,000-square-foot retail portion. RAF Pacifica Group plans to hold the retail asset long-term. Matt Moser of Retail Insight represented the buyer and seller in the off-market transaction.

January 11, 2018

Hospitality Washington Western

The Hotel Group Acquires Home2 Suites by Hilton Yakima – Airport in Washington

by Nellie Day January 11, 2018

KENNEWICK, WASH. — The Hotel Group has acquired the 107-unit Home2 Suites by Hilton Yakima – Airport in Kennewick for an undisclosed sum. The hotel is located at 2861 S. Lincoln St. in Rainer Square, southeast of Seattle. Construction of the property began in late 2017. It is scheduled to open in spring 2019. The hotel is being is being developed by Yakima-based Hogback Development and designed to host families and sports teams, along with business and leisure travelers. Amenities will include a swimming pool, fitness center, guest laundry, meeting facilities, indoor and outdoor lounge, and free breakfast. The hotel is situated less than a mile from Yakima Air Terminal, Yakima Valley Community College, SOZO Sports Complex and Virginia Memorial Hospital.

January 11, 2018

Multifamily Texas

Berkadia Brokers Sale of 306-Unit Apartment Community in Metro Houston

by Taylor Williams January 11, 2018

STAFFORD, TEXAS — Berkadia has brokered the sale of Estates at Fountain Lake, a 306-unit multifamily community in the southwestern Houston metro of Stafford. The property was built in 1998 and offers one- and two-bedroom units with full-size washers and dryers and private terraces or balconies. Illinois-based Prime Property Investors Ltd. sold the asset to Missouri City, Texas-based GPI Investments LLC. Ryan Epstein, Cutt Ableson, Jennifer Ray and Scott Bray of Berkadia represented Prime Property Investors in the sale and arranged an undisclosed amount of Fannie Mae acquisition financing on behalf of GPI Investments.

January 11, 2018

Multifamily Seniors Housing Texas

CBRE Arranges Sale of 132-Unit Seniors Housing Community in Metro Dallas

by Taylor Williams January 11, 2018

CEDAR HILL, TEXAS — CBRE has arranged the sale of Primrose at Cedar Hill, a 132-unit seniors housing community located in the southwestern Dallas metro of Cedar Hill. Built in 2003, the property was 98 percent occupied at the time of sale. Amenities include a pool, fitness center, business center and an on-site laundry facility. Chris Deuillet and Chandler Sims of CBRE represented the seller, Cedar Hill Seniors Housing LLC, in the transaction. Kaufman Investments purchased the asset for an undisclosed price.

January 11, 2018

Florida Multifamily Southeast

Pollack Shores Sells 274-Unit Apartment Community in Tampa for $58.1M

by Camren Skelton January 11, 2018

TAMPA, FLA. — Pollack Shores Real Estate Group LLC has sold Havana Square, a 274-unit apartment community located at 400 N. Rome Ave. in Tampa, for $58.1 million. Matt Mitchell and Zac Nolan of HFF arranged the transaction on behalf of Pollack Shores, which completed the property in 2017. Nashville-based Nicol Investment Co., a private investment firm, acquired the asset. Located in Tampa’s North Hyde Park neighborhood, Havana Square is roughly one mile west of Tampa’s central business district. The four-story building includes one-, two- and three-bedroom units averaging 804 square feet. Community amenities include a swimming pool, outdoor kitchen, bocce ball court, fire pits, grilling areas, fitness center, clubroom with game tables, kitchen and a bar.

January 11, 2018

Florida Hospitality Southeast

BPG Acquires 238-Room Hilton-Branded Hotel in Melbourne, Florida

by Camren Skelton January 11, 2018

MELBOURNE, FLA. — The Buccini/Pollin Group (BPG) has acquired Hilton Melbourne Rialto Place, a newly renovated, 238-room hotel in Melbourne. Jordan Roeschlaub, Dustin Stolly, Bob Tonnessen and Jason Deck of NKF Capital Markets arranged a $26.6 million acquisition loan through Ladder Capital on behalf of BPG. The hotel, located one mile from Melbourne International Airport, recently underwent a $5 million upgrade. Hilton Melbourne Rialto Place features more than 12,000 square feet of function space, a business center, meeting rooms, fitness center, pool, tennis court and a basketball court. Washington, D.C.-based PM Hotel Group will operate the hotel.

January 11, 2018

Office Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges 54,000 SF Lease for Debt Collection Company in Roanoke

by Camren Skelton January 11, 2018

ROANOKE, VA. — Cushman & Wakefield | Thalhimer has secured a 54,000-square-foot lease for Atlantic Credit & Finance (ACF), a subsidiary of Encore Capital Group, at Franklin Plaza in downtown Roanoke. Located at 111 Franklin Road, the five-story office building is now 88 percent leased. Barry Ward and Price Gutshall of Cushman & Wakefield | Thalhimer’s Roanoke office represented the building owner, Times Equities Inc., in the lease transaction. ACF, a servicer of unsecured, consumer-distressed assets, will occupy two floors at Franklin Plaza. The lease is part of ACF’s plan to invest more than $4 million to expand its operations in Roanoke, relocating from its current location on Orange Avenue. The expansion will create more than 115 new jobs, increasing ACF’s employee base in Roanoke to 359 staffers.

January 11, 2018

Midwest Net Lease Office Ohio

Mohr Capital Acquires 460,000 SF Net Leased Office Building in Suburban Cleveland, Ohio for $52M

by Kristin Harlow January 11, 2018

MAYFIELD HEIGHTS, OHIO — Mohr Capital has acquired a 460,000-square-foot net leased office building in Mayfield Heights, a suburb of Cleveland, for $52 million. Rockwell Automation Inc., a provider of industrial automation and information products, fully occupies the property on a triple net lease. The location serves as the second largest employment center for Rockwell, with close to 2,000 employees involved in the company’s architecture and software operating branch. The building was constructed as a build-to-suit for Rockwell in 1995. Rodrigo Godoi of Mohr Capital represented the Dallas-based real estate investment company in the transaction. Normal Rockwell Ohio LLC was the seller.

January 11, 2018

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