sales_and_leases

BDC Advisors Buys Portland Office Building for $35.3M

by Nellie Day February 27, 2015

PORTLAND, ORE. — BDC Advisors has acquired a 96,250-square-foot office building in Portland for $35.3 million. The mid-rise building is located at 2100 Southwest River Parkway in the city’s Central Business District. The Class A building is situated in the south end of CBD on the Willamette River. It sits adjacent to the southern-most part of Waterfront Park, less than a mile southeast of Downtown. The eight-story property was built in 1995. It is fully leased to two tenants. The transaction was executed by HFF. The seller was Clarion Partners. HFF also secured a seven-year, fixed-rate acquisition loan for BDC through a regional bank.

February 27, 2015

California Hospitality Western

Holiday Inn San Diego Mission Valley Stadium Changes Hands

by Nellie Day February 27, 2015

SAN DIEGO — A regional hotel investor has purchased the 175-room Holiday Inn San Diego Mission Valley Stadium for an undisclosed sum. The hotel is located at 3805 Murphy Canyon Road. The Holiday Inn is located about three miles from Qualcomm Stadium, home to the San Diego Chargers. The seller, a special servicer, acquired the hotel through foreclosure. It was represented by Mike Armstrong of HREC Investment Advisors.

February 27, 2015

California Industrial Western

Exeter Property Group Buys Distribution Building in Livermore

by Nellie Day February 27, 2015

LIVERMORE, CALIF. – Exeter Property Group has purchased an 81,717-square-foot distribution building in Livermore for more than $6.5 million. The Class A building is located at 7701-7703 Las Positas Road. Exeter was represented by Michael Donnelly and Joe Yamin of Colliers International. The seller, Bolliboka Properties, was represented by Michael Lloyd of the same firm.

February 27, 2015

California Multifamily Western

Lemon Grove Apartment Building Sells for $3M

by Nellie Day February 26, 2015

SAN DIEGO – A 24-unit apartment building in the San Diego submarket of Lemon Grove has sold to Phx CapI LLC for $2.9 million. The community is located at 1790 Dayton Drive. It was fully leased at the time of sale. Curtis Lockey of Voit Real Estate Services’ San Diego office represented both the buyer and seller, Limoncello LLC, in this transaction.

February 26, 2015

California Office Western

Klein and Wilson Law Firm Buys Office Building in Newport Beach

by Nellie Day February 26, 2015

NEWPORT BEACH, CALIF. – Law firm Klein and Wilson has purchased a 7,300-square-foot office building in Newport Beach for $2.9 million. The building is located at 4770 Von Karman, within the Newport Corporate Plaza. The seller, Kearny Real Estate Company, was represented by Joe Winkelmann of Voit. The building is one of five fee-simple buildings acquired by Kearny in June 2014. Klein Wilson was represented by Steve Economos of Jones Lang LaSalle.

February 26, 2015

California Industrial Western

Sasa Group Buys Office, Industrial Building in San Diego for $2.4M

by Nellie Day February 26, 2015

SAN DIEGO – The Sasa Group has acquired a 20,030-square-foot office/industrial property in San Diego for $2.4 million. The building is located at 720 Gateway Center Drive. It is 50 percent leased to Fresenius Medical Care. The buyer will occupy the other half of the building, which was constructed in 1988. Sasa was represented by Mark Lewkowitz of Colliers International. The seller, Urban League of San Diego, was represented by Bob Teglia and Brent Bohlken of Newark Grubb Knight Frank.

February 26, 2015

California Multifamily Western

Pacific Beach Apartment Building Sells for $2M

by Nellie Day February 26, 2015

SAN DIEGO – A 10-unit apartment building in the San Diego submarket of Pacific Beach has sold to Plotts Real Estate LP for $2 million. The community is located at 2030 Diamond Street. Plotts Real Estate was represented by Terry Moore of ACI Apartments. It acquired the property as part of a 1031 tax deferred exchange. The unnamed seller was represented by Ron Hammett of Hammett Properties.

February 26, 2015

Loans Multifamily New York Northeast

HFF Brokers $98.3M Sale, Financing for Greenwich Village Apartment Building

by Amy Works February 26, 2015

NEW YORK CITY — HFF has arranged the sale of The Nathaniel, an 85-unit residential building located at 138 E. 12th St. in Manhattan’s Greenwich Village neighborhood. The firm also arranged financing for the $98.3 million acquisition. Wafra Residential Value Invest I, a fund managed by Wafra Investment Advisory Group Inc., purchased the asset from YYY Third Avenue LLC, a joint venture affiliate of Joy Construction Corp. Designed by Karl Fischer Architect and built in 2014, the nine-story, 49,741-square-foot property features 10,000 square feet of ground-floor retail space, 8,000 square feet of below-grade retail space, floor-to-ceiling windows, a 24-hour doorman, resident lounge with TV/media center and billiards, rooftop reflecting pool, sunset terrace, fitness center and bike storage. Andrew Scandalios, Erin Anton, Jose Cruz, Jeffrey Julien and Rob Hinckley of HFF represented the seller in the transaction. Steven Klein and Jennifer Keller, also of HFF, arranged the acquisition financing for the borrower.

February 26, 2015

Industrial Maine Northeast

JHR Development Sells 200,625 SF Industrial Facility for $10.5M in Maine

by Amy Works February 25, 2015

PORTLAND, MAINE — Marblehead, Maine-based JHR Development has completed the sale of an industrial building located at 56 Milliken St. in Portland. Plymouth Industrial REIT Inc. purchased the 200,625-square-foot facility, which is situated on 30 acres, for $10.5 million. Milliken Portland Partners LLC, a subsidiary of JHR, originally purchased the facility in December 2011 for $6.5 million. The firm significantly improved the property to accommodate the needs of the tenants, AdvancePierre Foods and Paradigm Windows. CBRE|The Boulos Company’s Portland office brokered the transaction.

February 25, 2015

Industrial Texas

Muskin Commercial Arranges Sale of Self-Storage Facility in Metro Austin

by Haisten Willis February 25, 2015

LAKEWAY, TEXAS — Muskin Commercial has arranged the sale of 538 units at the All-Ways Storage facility located at 15402 Kollmeyer Drive and 911 N. Ranch Road 620 in Lakeway. The site includes 131 climate-controlled and 386 non-climate-controlled units, along with 21 uncovered outside storage parking spaces. The property sits on three tracts of land with frontage along RR 620.A Maryland-based self-storage company purchased the property. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, All-Ways Self Storage LP of Austin, who was the original builder and developer of the property.

February 25, 2015

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