sales_and_leases

M&M Brokers Sale of 72,775 SF Self-Storage Facility in Metro Dallas

by Haisten Willis June 15, 2015

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of All Star Self-Storage, a 72,775-square-foot self-storage facility located in Fort Worth. Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Karr also secured the buyer, another private investor. All Star Self-Storage is located on two parcels totaling five acres at 7400 N. Blue Mound Road. The property, which was built in 2008, consists of eight single-story buildings and one two-story management office/residence. The property includes perimeter fencing and lighting, wide concrete driveways, video surveillance and personalized keypad gated entry.

June 15, 2015

Capstone Brokers $20.3M Sale of Two Apartment Communities in South Carolina

by John Nelson June 15, 2015

BOILING SPRINGS AND SPARTANBURG, S.C. — Capstone Apartment Partners has brokered two sales of multifamily communities in South Carolina totaling $20.3 million. In the larger transaction, The Village at Mills Gap LLC sold the Village at Mills Gap to HKSK Corp. for $16.2 million. Built in 2014, the 208-unit property is located at 97 Mills Gap Road in Boiling Springs and was 80 percent occupied at the time of sale. Alex McDermott and Austin Green of Capstone’s Charlotte office brokered the transaction. In the second deal, Alliance sold Cross Creek Apartments to Elevation Financial Group for $4.1 million. Built in 1981, the 152-unit apartment community is located at 345 Bryant Road in Spartanburg and was 97 percent occupied at the time of sale. McDermott, Green and Beau McIntosh of Capstone represented the seller in the transaction.

June 15, 2015

California Retail Western

Orchard Supply Hardware Near Ventura Sells for $16.7M

by Nellie Day June 15, 2015

VENTURA, CALIF. – A 43,138-square-foot building in Thousand Oaks that is triple-net leased to Orchard Supply Hardware has sold to Oppidan Investment Company for $16.7 million. The building is located at 1934 E. Avenida de Los Arboles. Christopher Maling, David Maling and Stephen Algermissen of Colliers represented both the buyer and seller, a local private investment firm, in this transaction.

June 15, 2015

California Industrial Western

Universal Shipping Leases Space at Chino Crossroads Business Park

by Nellie Day June 15, 2015

POMONA, CALIF. – Universal Shipping has leased 142,000 square feet of space at the Chino Crossroads Business Park in Pomona. The lease is valued at $9 million. The space is located at 2855 S. Reservoir Street. The third-party logistics provider is currently expanding its presence in the U.S. and abroad. The company was represented by Barry Saywitz of the Saywitz Company. The landlord, Northwestern Mutual Life Insurance and Financial Service, was represented by Bill Budge of William A. Budge Inc.

June 15, 2015

Arizona Hospitality Western

The Siegel Group Buys Legacy Suites Near Chandler

by Nellie Day June 15, 2015

CHANDLER, ARIZ. – The Siegel Group has purchased the 355-room Legacy Suites in Casa Grande for $8.3 million. The extended-stay hotel is located at 540 Cacheris Court. The Class A building was constructed in 2008. This was the firm’s first acquisition in Arizona. The seller, a large developer in Arizona, was represented by ABI Multifamily’s Rue Bax, Alon Shnitzer, Eddie Chang, John Kobierowski, and Doug Lazovick.

June 15, 2015

Arizona Industrial Western

Glendale Manufacturing Facility Sells for $5.7M

by Nellie Day June 15, 2015

GLENDALE, ARIZ. – A 120,000-square-foot industrial manufacturing facility in Glendale has sold to AMERCO Real Estate Company for $5.7 million. AMERCO is a provider of real estate and development services for U-Haul. The facility is located at 6112 N. 56th Ave. AMFORM will occupy the building. It will allow the manufacturing division for U-Haul to triple in size from its present facility in Glendale. AMFORM plans to occupy building in about six months. David Wilson of Daum Phoenix represented both the buyer and the seller, American Park ‘n Swap, in this transaction.

June 15, 2015

Industrial Midwest Minnesota

CPA:18 – Global Buys $17M Warehouse/Distribution Facility in Minnesota

by Amy Works June 12, 2015

PLYMOUTH, MINN. — CPA:18 – Global, a non-traded REIT managed by W. P. Carey Inc., has acquired a 208,900-square-foot warehouse and distribution facility in Plymouth. A private investment group sold the property for $17 million. The facility is net leased to Core-Mark International, a subsidiary of Core-Mark Holding Company Inc., for a period of 13 years. Originally constructed in 1975, the facility has been expanded twice and features more than 23,000 square feet of cooler/freezer storage space. The seller is contributing $1 million for tenant improvements to the office space and to enhance the HVAC and lighting of the warehouse.

June 12, 2015

Multifamily Texas

IPA Arranges Sale of Apartment Complex in San Antonio

by Haisten Willis June 12, 2015

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in institutional and private investment sales, has arranged the sale of Tacara at Westover Hills, a 312-unit apartment community in San Antonio. Will Balthrope and Drew Kile of IPA, along with Marcus & Millichap associate Rowan Burch, advised the seller. Balthrope, Kile and Burch also procured the buyer, Fort Worth-based Olympus Property. Constructed in 2014 on 13.4 acres, the community is located at 8543 State Highway 151, less than one-half mile from the intersection of State Highway 151 and Loop 410. Westover Marketplace, a 600,000-square-foot shopping center, is within walking distance. Amenities at Tacara at Westover Hills include keyless entry, stainless steel appliances, granite countertops, under-mounted sinks in kitchens and bathrooms, garden-style tubs and patios/balconies. Community amenities include limited-access entry gates, a 24-hour fitness center, pool with sundeck, outdoor lounge areas with fire pits and fireplaces, tanning booths, a dog park and an electric car charging station.

June 12, 2015

District of Columbia Office Southeast

CBRE Brokers $115M Sale of 12-Story Office Building in D.C.

by John Nelson June 12, 2015

WASHINGTON, D.C. — CBRE has brokered the $115 million sale of a 12-story, 165,752-square-foot office building located at 1750 K St. N.W. in Washington, D.C.’s Golden Triangle district. Mirae Asset Global Investments purchased the office asset from Sumitomo Corporation of Americas. Michael Blunt, Randall Heilig and Andrew Felber of CBRE’s Washington, D.C., office represented the seller in the transaction. The building is currently 95 percent leased with Wiley Rein LLP serving as the anchor tenant. Additional tenants include International Truck Association, ASKG Public Strategies and One-to-One Fitness. In 2010, the property underwent an extensive $4.5 million renovation that included significant upgrades to the mechanical systems and improvements to the anchor tenant’s space. The building has access to an onsite fitness center and parking garage and is within walking distance of the Farragut West and Farragut North Metro stations, Connecticut Avenue and Farragut Square.

June 12, 2015

Multifamily New York Northeast

E&M Associates Acquires Two Multifamily Properties for $72.3M

by Amy Works June 12, 2015

NEW YORK CITY — E&M Associates has acquired two multifamily properties in New York City’s Astoria neighborhood for $72.3 million from Related Cos. Located at 11-15 Broadway and 30-50 21st St., the properties are known as Astoria at Hallet’s Cove and Montenegro of Astoria, respectively. The properties offer a total of 144 rental units and 64 parking spaces. Astoria at Hallet’s Cove is an eight-story, 76,100-square-foot elevator building with 79 apartments, and Montenegro of Astoria is an eight-story, 59,240-square-foot elevator building with 65 apartments. Aaron Jungreis of Rosewood Realty Group represented both properties in the transaction.

June 12, 2015

Newer Posts

Older Posts