sales_and_leases

Colliers Brokers Sales of Two Industrial Assets in Metro Atlanta Totaling $42.1M

by John Nelson June 10, 2015

ATLANTA — Colliers International has brokered the sale of two industrial assets in metro Atlanta totaling 1.2 million square feet for a combined $42.1 million. Dennis Mitchell and Matt Wirth of Colliers International’s Atlanta office represented the seller, DCT Industrial, in both transactions. The properties included Eagles Landing Trade Center III, a 505,000-square-foot distribution building located at 301 Eagles Landing Parkway in Stockbridge that sold for $21 million, and a five-building industrial portfolio totaling 712,763 square feet in Atlanta’s I-20 West/Fulton industrial submarket that sold for $21.1 million.

June 10, 2015

Hospitality Midwest Wisconsin

Paramount Lodging Advisors Arranges Sale of Wisconsin Holiday Inn

by Amy Works June 10, 2015

NEENAH, WIS. — Paramount Lodging Advisors has arranged the sale of Holiday Inn Neenah Riverwalk, located at 123 E. Wisconsin Ave. in Neenah, near the Fox Cities area of Wisconsin. The hotel includes 107 rooms, 13,000 square feet of meeting and banquet space, a full-service restaurant and a sports bar. The buyer, a regional hotel company, plans to renovate and rebrand the property. Adam Montufar, Brent Clemens and Bennett Webster of Paramount Lodging Advisors represented the undisclosed seller in the transaction, which utilized the Auction.com platform. The sales price was not disclosed.

June 10, 2015

California Office Western

MetLife Real Estate Advisors Buys The Campus in Silicon Valley for $96M

by Nellie Day June 10, 2015

SAN JOSE, CALIF. — MCP Trimble Campus LLC has purchased The Campus, a 250,000-square-foot office park in San Jose, for $96 million. The Campus is located at Trimble Road and Orchard Parkway. The four-building project received a significant redesign after it was purchased by a joint venture between Bixby Land Co. and Cornerstone in 2012. The building exteriors were reskinned and atrium entryways were installed. The property also received an outdoor living room and amenities area that included an outdoor gourmet kitchen, dining areas, fountains, plush couch seating around a fire table, eco-friendly landscaping and more. The property is occupied by Verizon and ASML US.

June 10, 2015

California Retail Western

Pair of Haggen Food & Pharmacy Portfolios Complete Sale-Leaseback on West Coast

by Nellie Day June 10, 2015

LOS ANGELES — HFF has completed the sale-leaseback on two separate Haggen Food & Pharmacy portfolios along the West Coast. The portfolios contain a total of 39 grocery stores in Washington, Oregon and California. HFF’s Mark West, Timothy Hall, Bryan Ley, Brandon Chavoya, Coler Yoakam, Michael George and Campbell Black marketed the portfolios on behalf of Haggen. The Washington-based grocery store chain entered into long-term leases with the purchasers. Haggen purchased 146 stores from Albertson’s as part of a $9.4 billion merger between Safeway and AB Acquisition, the owner of Albertson’s. This expansion grows the Haggen Food & Pharmacy portfolio from 18 stores in Washington and Oregon to 164 stores in five Western states. HFF also arranged the floating-rate financing for the 19 properties.

June 10, 2015

California Office Western

Lincoln Property Co. Buys Burbank Collection Office Buildings

by Nellie Day June 10, 2015

LOS ANGELES — Lincoln Property Co. has purchased the Burbank Collection, a three-building office campus in the Los Angeles submarket of Burbank, for an undisclosed sum. The property is located at 303 N. Glenoaks Blvd., 333 N. Glenoaks Blvd. and 300 E. Magnolia Blvd. The Burbank Collection occupies an entire city block in the downtown district. The project represents roughly half of the city’s 740,000-square-foot, Class A office inventory, according to Lincoln. Notable tenants at the project include Cartoon Network and Nickelodeon. The company plans to convert the three-acre site into a cohesive, walkable campus that emphasizes the existing open space. An unfinished loading alley that bisects the site will be converted into a central pedestrian walkway that will connect new outdoor decks and terraced dining areas. Public art and significant landscaping will be featured throughout the property. The renovation is scheduled for completion early next year. Lincoln Property Company was represented by CBRE. The seller was Kennedy Wilson.

June 10, 2015

Georgia Office Southeast

Fairlead Purchases Embassy Row Office Campus in Atlanta’s Central Perimeter Submarket

by John Nelson June 9, 2015

SANDY SPRINGS, GA. — Atlanta-based Fairlead Commercial Real Estate has purchased Embassy Row, a four-building office campus in Atlanta’s Central Perimeter office submarket, for an undisclosed price. Located on Peachtree Dunwoody Road in Sandy Springs, the 37-acre, 551,515-square-foot campus fronts GA 400 near Abernathy Road. Fairlead partnered with Bridge Investment Group Partners, manager of the ROC Funds, to purchase the office campus from ARES Management LLC. Embassy Row’s Building 100, which is occupied by the Art Institute of Atlanta, is not part of the transaction. Fairlead and Bridge Investment plan to invest $10 million to upgrade the buildings’ operating systems, common areas and tenant amenities. Will Yowell and Justin Parsonnet of CBRE represented ARES in the transaction.

June 9, 2015

Office Texas

TIG to Develop $31M Office Building in Sam Rayburn Tollway Corridor in Metro Dallas

by Haisten Willis June 9, 2015

ALLEN, TEXAS — TIG Real Estate Services Inc. plans to build Ridgeview Business Center, a $31 million, 154,000-square-foot, six-story office building in Allen. Located on eight acres along the Sam Rayburn Tollway between Stacy and North Watters roads, Ridgeview Business Center will be the first office building developed in the corridor, which includes 1,300 acres of developable land stretching six miles from U.S. 75 southwest to Custer Road between the Sam Rayburn Tollway south service road and Ridgeview Drive. Future land-use plans show office, entertainment and mixed-use development along the corridor. Construction will begin once 25 percent of the space has been pre-leased. International architectural firm Gensler has designed the exterior.

June 9, 2015

Illinois Midwest Multifamily

Interra Realty Brokers Two Multifamily Sales Totaling $2.7M in Chicago

by Amy Works June 9, 2015

CHICAGO — Interra Realty has brokered the sales of two multifamily properties totaling $2.7 million in Chicago’s Ukrainian Village and North Park neighborhoods. A five-unit, owner-occupied multifamily property, located at 1101 N. Damen Ave. in Ukrainian Village, sold for $2 million. The second transaction is the $735,000 sale of a six-unit multifamily property, located at 3217-23 W. Balmoral St. in the North Park district. Brad Feldman of Interra Realty brokered the transactions. The names of the sellers were not disclosed.

June 9, 2015

Northeast Pennsylvania Retail

Cohen Real Estate Brokers Sale of Fairless Hills Shopping Center

by Amy Works June 9, 2015

FAIRLESS HILLS, PA. — Cohen Real Estate has brokered the sale of Fairless Hills Shopping Center, a grocery-anchored community shopping located in Fairless Hills. Fairless Hills Shopping LP acquired the property for $22 million from Fairless Hills S.C. Associates. Situated on 34.5 acres on S. Oxford Valley Road, the center contains 292,067 square feet, of which 145,605 square feet is currently occupied by a variety of tenants, including Giant Supermarket, Dollar Tree, Rent-A-Center, Wells Fargo and McDonald’s. Vera Thomas of Cohen Realty Estate represented both parties in the transaction.

June 9, 2015

California Industrial Western

Magnolia Point Building in Corona Sells for $20.1M

by Nellie Day June 9, 2015

CORONA, CALIF. – A 201,345-square-foot industrial building inside the Magnolia Point redevelopment project in Corona has sold to Developlus Inc. for $20.1 million. It is the project’s largest building. The Class A warehouse and distribution space is located at 1560 E. Sixth Street. Amrapur manufactures bedding, towels, comforters, draperies and other home textiles overseas. It imports and distributes from its U.S. headquarters. The company was represented by Ted Sawyer of Lee & Associates. The seller, CT Realty, was represented by Jeff Ruscigno of the same firm, and by CBRE’s Ben Seybold.

June 9, 2015

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