sales_and_leases

YRC Bloomington Truck Terminal Near San Bernardino Changes Hands

by Nellie Day January 28, 2015

SAN BERNARDINO, CALIF. — Realterm/NAT has purchased YRC Bloomington Truck Terminal, a 51.4-acre industrial site near San Bernardino, for $58.1 million. The site is located at 18298 Slover Ave., off Interstate 10 at Cedar Street. The property is 12 miles east of Ontario International Airport. The site contains two truck terminals with 325 loading doors that total 165,141 square feet, in addition to a 32,630-square-foot shop building. The terminal is fully leased to YRC, Inc. through January 2019. The company is a subsidiary of YRC Worldwide, one of the world’s largest transportation service providers. CBRE’s Darla Longo, Barbara Emmons, Mike Caprile, Rebecca Perlmutter Finkel and Grant Ross represented both the buyer and the seller, Pacific Industrial and institutional investors advised by J.P. Morgan Asset Management, in this transaction. The team was supported by Steve Sprenger of Newmark Grubb Knight Frank.

January 28, 2015

Colorado Multifamily Western

Sagebrook Apartments in Colorado Springs Sells for $48.7M

by Nellie Day January 28, 2015

COLORADO SPRINGS, COLO. — Sagebrook Apartments LLC has acquired the 314-unit Sagebrook Apartments in Colorado Springs for $48.7 million. The community is located at 2555 Raywood View. This sale is the second-largest, single-property apartment transaction in the history of Colorado Springs, according to Marcus & Millichap, which represented the buyer. The property is situated near the Promenade Shops at Briargate, the Briargate business campus, the InterQuest business park, the Pine Creek Golf Club, the Air Force Academy, Memorial Hospital North and the new Penrose St. Francis Medical Center. Community amenities include a swimming pool, sun deck and all-season spa, 24-hour fitness center, clubroom with Wi-Fi, kitchen, fireplace area with a flat-screen television, outdoor picnic area with gas barbecues, a coffee bar and business center. The LLC was represented by Clayton Primm, Jacob Steele and Nick Steele of Marcus & Millichap’s Denver office. The seller was Griffis Residential. Marcus & Millichap Capital Corp. also arranged $32.3 million in acquisition financing for this transaction. The non-recourse debt placement was structured as a 30-year, fixed-rate, fully amortizing loan.

January 28, 2015

California Multifamily Western

Ocean Plaza Apartments in Long Beach Sells for $6.2M

by Nellie Day January 27, 2015

LONG BEACH, CALIF. – The 44-unit Ocean Plaza Apartments in Long Beach has sold to Joda Investments for $6.2 million. The community is located at 633 E. 1st Street in Downtown’s East Village Arts District. It was built in 1956. Robert Stepp of Stepp Commercial represented both the buyer and seller, Luna Bear Investments, in this transaction.

January 27, 2015

California Retail Western

Fontana Retail Center Sells for $2.6M

by Nellie Day January 27, 2015

FONTANA, CALIF. – A 7,194 square-foot retail center in Fontana has sold to a private Riverside investor for $2.6 million. The center is located at 17218 Foothill Blvd. It is shadow-anchored by Brunswick Foothill Bowling Center. The property, which was built in 2008, is situated across from a Walmart-anchored shopping center. The buyer was represented by Janet Valentin of VRE Commercial. The seller, a private, Los Angeles-based trust, was represented by Brad Umansky, Frank Vora and Greg Bedell of Progressive Real Estate Partners.

January 27, 2015

California Multifamily Western

Fallbrook Apartment Community Sells for $2M

by Nellie Day January 27, 2015

SAN DIEGO – An 18-unit apartment community in the San Diego submarket of Fallbrook has sold to the Wood Family Trust for $2 million. The community is located at 1133 Old Stage Road. It was built in 1987. The trust was represented by Peter Scepanovic and Corey McHenry of Colliers International. The seller, Lucy Nannizzi Living Trust, was represented by CBRE’s Merrick Matricardi.

January 27, 2015

Multifamily New York Northeast Seniors Housing

IPA Arranges $16M Sale of Skilled Nursing Facility in New York

by Amy Works January 27, 2015

DUNKIRK, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has completed the sale Chautauqua County Home, a 133-room skilled nursing facility located near Lake Erie in Dunkirk. The asset sold for $16 million, or $74,000 per bed. The buyer has upgrades planned for the 216-bed facility that will improve operations and profitability. Joshua Jandris and Mark Myers of IPA Marcus & Millichap’s Manhattan office represented the seller, Chautauqua County, and procured the buyer, a regional provider.

January 27, 2015

Midwest Multifamily Wisconsin

KeyBank Provides $21.5M Loan for Wisconsin Apartment Complex

by Danielle Everson January 27, 2015

MILWAUKEE — KeyBank Real Estate Capital has secured a $21.5 million Freddie Mac CME loan for Presidio Square Apartments in Milwaukee. The 248-unit, garden-style apartment complex was built in 1991. Jeannie Johnson of KeyBank Real Estate Capital Markets’ multifamily team arranged the financing for the undisclosed borrower. The financing will be used to pay off an existing loan.

January 27, 2015

Art Avenue Apartment Homes Orlando Florida

Florida Multifamily Southeast

CBRE Brokers $47.1M Sale of New Apartment Community in Orlando

by John Nelson January 27, 2015

ORLANDO, FLA. — CBRE has brokered the $47.1 million sale of Art Avenue Apartment Homes, a new 300-unit luxury apartment community located at 10201 Lee Vista Blvd. in Orlando. An undisclosed entity purchased the property from the Rohdie Group, a residential real estate management firm. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction. Completed in 2014, the community features a large clubhouse, computer lounge, TV lounge, coffee bar, fitness center, children’s art room, outdoor fire pit and resort-style pool.

January 27, 2015

California Retail Western

Carrillo Plaza Shopping Center in Santa Barbara Sells for $12.2M

by Nellie Day January 26, 2015

SANTA BARBARA, CALIF. – Carrillo Plaza, an 18,743-square-foot shopping center in downtown Santa Barbara, has sold to New Group-Santa Barbara LLC for $12.2 million. The center is located at 210 W. Carrillo Blvd. It is anchored by Starbucks. The property was completely renovated over the past four years. The seller, Carrillo Holdings LLC, was represented by Bill Bauman and Kyle Miller of Savills Studley.

January 26, 2015

Arizona Hospitality Western

Country Inn & Suites Mesa Sells for $10.9M

by Nellie Day January 26, 2015

MESA, ARIZ. – The 126-room Country Inn & Suites Mesa has sold to KCS Investment for $10.9 million. The hotel is located at 6650 East Superstition Springs Blvd. It is situated at the crossroads of U.S. Route 60 and East Superstition Springs Boulevard, just five miles west of Phoenix-Mesa Gateway Airport. The Country Inn was built in 1998. Gordon Allred, David Greenberg and James Meng of Marcus & Millichap represented both the buyer and seller, Suites of Arizona, in this transaction.

January 26, 2015

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