sales_and_leases

Bascom Group Acquires 183-Unit Community for $10.4M in Las Vegas

by Nellie Day June 3, 2015

LAS VEGAS — Private equity firm The Bascom Group has acquired the 183-unit Boulder Palms Senior Apartments at 4350 Boulder Highway in Las Vegas for $10.4 million. Debt financing was provided by One West Bank and arranged by Brian Eisendrath and Brandon Smith of CBRE Capital Markets. Doug Schuster and Vittal Ram of Newmark Grubb Knight Frank represented the seller on the transaction. Boulder Palms is a two-story seniors housing community housing 183 units. Completed in 1997, the property covers over four acres. Boulder Palms is Bascom’s eighth acquisition in the Las Vegas area over the last two years.

June 3, 2015

California Multifamily Western

Redwood City Apartment Building Sells for $13.1M

by Nellie Day June 3, 2015

REDWOOD CITY, CALIF. – A 48-unit apartment building in the San Francisco Peninsula submarket of Redwood City has sold to an unnamed buyer for $13.1 million. The community is located at 180 Buckingham Ave. It was built in 1964. Adam Levin and Robert Johnston of Marcus & Millichap’s Palo Alto office represented both the buyer and seller in this transaction.

June 3, 2015

Multifamily South Carolina Southeast

Colliers Brokers $22.9M Sale of Apartment Community in Suburban Columbia

by John Nelson June 3, 2015

ELGIN, S.C. — Colliers International has brokered the $22.9 million sale of Legacy at Sandhill, a 240-unit Class A apartment community located in Elgin, a suburb of Columbia. Will Mathews, Ron Cameron and Woody Moore of Colliers represented the seller, Atlanta-based Mesa Capital Partners, in the transaction. The buyer was the Wilkinson Group, also based in Atlanta.

June 3, 2015

New Jersey Northeast Office

Cushman & Wakefield Brokers Acquisition of Two-Building Office Complex in New Jersey

by Amy Works June 2, 2015

PARSIPPANY, N.J. — Cushman & Wakefield has brokered the acquisition of a two-building office complex located at 1140 and 1160 Parsippany Blvd. in Parsippany. Micro Strategies Inc. purchased the property, which totals 46,000 square feet, from Hampshire Cos. for an undisclosed price. The Morris County, N.J.-based buyer plans to relocate its headquarters from Denville and Rockaway, N.J., to the newly acquired office complex. Slava Vaynberg, Marc Trevisan and David Sherman of Cushman & Wakefield arranged the off-market transaction.

June 2, 2015

Retail Texas

Venture Investment Partners Acquires Retail Center in Metro Dallas

by Haisten Willis June 2, 2015

FRISCO, TEXAS — Venture Investment Partners, a newly formed investment group of Venture Commercial Real Estate, has acquired Preston Stonebrook, a 58,594-square-foot specialty center located on the southwest corner of Preston Road and Stonebrook Parkway in Frisco. The deal marks the second acquisition by Venture Investment Partners, an investment platform. Bo Brownlee and Easley Waggoner Jr. represented Venture Investment Partners in the Preston Stonebrook transaction. JLL represented the seller, Dunhill Partners. Venture will handle leasing and management for the center, which is currently 100 percent leased. Tenants include Hallmark, Le Peep, PrimaCare, Republic Title and Taco Bell.

June 2, 2015

Midwest Ohio Retail

Cooper Commercial Brokers Sale of 14,545 SF Retail Plaza in Akron

by Amy Works June 2, 2015

AKRON, OHIO — Cooper Commercial Investment Group has brokered the sale of Chapel Center, a retail plaza located in the Chapel Hill shopping district of Akron. A New York-based private investment group bought the 14,545-square-foot property for $2.4 million, which was 97 percent of the original list price. The center is tenanted by Men’s Wearhouse, Sprint, H&R Block, Mattress Warehouse and Check n’ Go. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, a private Ohio-based investment group, and the buyer in the transaction.

June 2, 2015

Alabama Multifamily Southeast

Passco Cos. Acquires Apartment Community in Metro Mobile for $43M

by John Nelson June 2, 2015

SPANISH FORT, ALA. — Passco Cos. LLC has purchased The Arlington at Eastern Shore, a 300-unit, Class A multifamily community located at 10558 Eastern Shore Blvd. in Mobile’s Spanish Fort suburb, for $43 million. Built in 2009, the property was designed to where each multi-unit apartment building resembles a large single-family home. The property features attached garages, an indoor basketball court, stocked fishing pond, pool with a sundeck, resident lounge, car care center and a fitness center. Passco plans to improve the apartment community with new exterior paint and the addition of a dog park. Passco funded its purchase of The Arlington at Eastern Shore using Fannie Mae debt. Rock Apartment Advisors brokered the transaction.

June 2, 2015

Industrial Oregon Western

Harsch Investments Buys Teton Industrial Building in Tualatin

by Nellie Day June 2, 2015

TUALATIN, ORE. – Harsch Investments has purchased Teton Industrial Building, a 100,000-square-foot industrial property in Tualatin, for an undisclosed sum. The building is located at 20495 SW Teton Ave. It was formerly long occupied by Stanton Furniture. Harsch will immediately begin a renovation program that will include roof improvements, painting, parking lot and landscape upgrades, warehouse lighting upgrades and yard area re-grading. The transaction was executed by Stu Peterson of Macadam Forbes.

June 2, 2015

California Industrial Western

Rudolph Foods Co. Buys Beaumont Logistics Center for $6.3M

by Nellie Day June 2, 2015

BEAUTMONT, CALIF. – Rudolph Foods Co. has purchased Beaumont Logistics Center, a 572,143-square-foot logistics center just east of Riverside, for $6.3 million. The two-building industrial warehouse center is located at 920 Fourth Street. It sits adjacent to Lowe’s Distribution Center. The pork rinds manufacturer and private snack supplier will be relocating its warehouse distribution operations to this facility from nearby San Bernardino. Rudolph Foods was represented by CBRE’s David Consani. The seller, CT Realty, was represented by Milo Lipson, Kyle Kehner, Ryan Velasquez and Tim Pimentel of Cushman and Wakefield.

June 2, 2015

California Industrial Western

Nordic Naturals Buys Industrial Corporate Headquarters Facility in Vista

by Nellie Day June 2, 2015

VISTA, CALIF. – Nordic Naturals has purchased a 39,672-square-foot industrial corporate headquarters property in Vista for $2.8 million. The property is located at 2390 Oak Ridge Way. The building is fully occupied by Select Supplements. Isaac Little and Marko Dragovic of Lee & Associates represented both the buyer and seller, SR Commercial, in this transaction.

June 2, 2015

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