sales_and_leases

NorthMarq Capital Secures $3.4M Loan for Two Affordable Housing Properties in Nebraska, Iowa

by Jonathan Mehall August 25, 2015

COUNCIL BLUFFS, IOWA AND BELLEVUE, NEB. — NorthMarq Capital has secured a $3.4 million Freddie Mac refinancing loan for two Section 8 affordable housing properties. Maple Second Avenue Apartment Homes is located at 3524 Second Ave. in Council Bluffs. The property features one- and two-bedroom floor plans with a patio/balcony and in-unit washers and dryers. Bellevue Place Apartments, a senior community located at 1808 Warren St. in Bellevue, contains one-bedroom floor plans with paid utilities. John Reed of NorthMarq Capital’s Omaha office represented the borrower, the Seldin Co., in the transaction.

August 25, 2015

Indiana Midwest Multifamily

M&M Brokers $1.2M Sale of 24-Unit Apartment Property in Greenwood, Ind.

by Jonathan Mehall August 25, 2015

GREENWOOD, IND. — Marcus & Millichap has brokered the $1.2 million sale of Wooddale Terrace Townhomes, located at 601-623 Wooddale Terrace in Greenwood, about 14 miles south of Indianapolis. The apartment property consists of two three-story buildings built in 1985. All units are approximately 1,000 square feet with two-bedroom units and one-and-a-half baths. The property was 100 percent occupied at the time of sale. David Orton of Marcus & Millichap’s Indianapolis office represented the seller, a limited liability company, and the buyer, also a limited liability company.

August 25, 2015

Illinois Industrial Midwest

Darwin Realty Arranges Sale of 48,663 SF Industrial Building in Glendale Heights, Ill.

by Jonathan Mehall August 25, 2015

GLENDALE HEIGHTS, ILL. — Darwin Realty has arranged the sale of a 48,663-square-foot industrial building, located at 999 Regency Drive in Glendale Heights, for an undisclosed price. The facility is situated on 4.8 acres of land within the High Grove East Business Park in DuPage County. Property features include 9,000 square feet of office space, 18-foot clear ceiling heights, one interior truck dock, one drive-in door and 80 parking spaces. Richard G. Daly of Darwin Realty represented the buyer, Robert Weisheit Co., which acquired the property for the expansion and relocation of its manufacturing business. Jeff Fischer, Joe Bronson, and Howard Bergdoll of NAI Hiffman represented the seller, LaVezzi Precision Inc.

August 25, 2015

Retail Texas

Kite Realty Acquires Power Center in Fort Worth

by Haisten Willis August 25, 2015

FORT WORTH, TEXAS — Kite Realty Group Trust has acquired Chapel Hill Shopping Center, a 200,000-square-foot power center located in Fort Worth. The center is 96 percent leased and anchored by Central Market, The Container Store and Cost Plus World Market. Other tenants include Ann Taylor, Beauty Brands, New Balance and Men’s Wearhouse. The purchase price was funded using 1031 sale proceeds and other cash and liquidity sources. Chapel Hill Shopping Center is located at the intersection of I-30 and Hulen Street. The area has an estimated population of 275,000 residents within a five-mile radius. David Disney and Adam Crockett of Disney Investment Group represented the seller and also procured the buyer in the transaction.

August 25, 2015

Multifamily South Carolina Southeast

Continental Realty Acquires Greenville Apartment Community for $51.8M

by John Nelson August 25, 2015

GREENVILLE, S.C. — Continental Realty Corp. has purchased Avana at Carolina Point, a 346-unit apartment property located at 201 Carolina Point Parkway in Greenville, for $51.8 million. Constructed in 2010, the property was previously owned by Greystar Real Estate Partners and its joint venture partner Lubert-Adler. The apartment community, which includes an outdoor pool, fire pit, courtyard area, fitness center, business center and dog park, is located less than one mile from an interchange of I-85. Avana at Carolina Point is the first acquisition for Continent Realty Fund IV LP, a $164 million value-add retail and multifamily fund. The transaction is also Continental Realty’s first acquisition in South Carolina.

August 25, 2015

California Retail Western

DTZ Arranges $32.5M Sale of Jackson Square in California

by Nellie Day August 25, 2015

HAYWARD, CALIF. — DTZ has arranged the $32.5 million sale of Jackson Square, a 114,220-square-foot retail center located in Hayward in the San Francisco Bay area. ROIC California LLC, a subsidiary of Retail Opportunity Investments Corp., acquired the center. Dan Wald, Eric Kathrein and Justin Sharp of DTZ represented the seller, Terramar Retail Centers LLC, in the transaction. Safeway, CVS/pharmacy and 24 Hour Fitness anchor the center, with a tenant roster including Starbucks Coffee, Chase Bank, Round Table Pizza and Patelco Credit Union.

August 25, 2015

Nevada Retail Western

DTZ Arranges $19.7 Million Sale of Cheyenne Point in Las Vegas

by Nellie Day August 25, 2015

LAS VEGAS — DTZ has arranged the $19.7 million sale of Cheyenne Point Shopping Center, a 93,901-square-foot center located in Las Vegas. Ryan Schubert and Michael Hackett of DTZ represented the seller, an entity formed by Sarofim Realty Advisors, in the transaction. Calabasas, Calif.-based Medford Capital LLC acquired the property. Tenants at the center include anchor Mariana’s Supermarket, Dollar Tree, Gen X Clothing, Rainbow, CiCi’s Pizza, T-Mobile, Taco Bell and Subway.

August 25, 2015

California Retail Western

Marcus & Millichap Arranges $14.8M Sale of National City Plaza

by Nellie Day August 25, 2015

NATIONAL CITY, CALIF. — Marcus & Millichap has arranged the $14.87 million sale of National City Plaza, an 84,230-square-foot, grocery-anchored center located in National City just south of San Diego. Matt LoPiccolo of Marcus & Millichap represented the seller and procured the buyer in the transaction. Tenants include Diego Valley Public Charter, Dollar Tree and Wrigley’s Supermarket.

August 25, 2015

Nevada Retail Western

DTZ Arranges $15 Million Sale of Alamosa Plaza in Las Vegas

by Nellie Day August 24, 2015

LAS VEGAS — DTZ has arranged the $15 million sale of Alamosa Plaza, a 77,650-square-foot shopping center located in Las Vegas. Ryan Schubert and Michael Hackett of DTZ represented the seller, Pan Pacific (Alamosa) LLC, in the transaction. RPM Investments Inc. purchased the center, which was 90.5 percent leased at the time of sale to eight tenants including anchor Albertsons. Dan Adamson of Las Vegas-based ROI Commercial Real Estate assisted DTZ during the transaction.

August 24, 2015

Retail Washington Western

Sun Commercial Real Estate Arranges $7M Sale of Walgreens Property

by Nellie Day August 24, 2015

BELLINGHAM, WASH. — Sun Commercial Real Estate Inc. has arranged the $7 million sale of a 15,120-square-foot single tenant Walgreens located in Bellingham. Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz and Riley Foley of Sun Commercial Real Estate Inc. represented the buyer, Howe Family LP, and Kevin Shelburn of Pegasus Investments represented the seller, KMD Bellingham LLC, in the transaction.

August 24, 2015

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