sales_and_leases

NAI Hiffman Brokers Sale of Office Condominiums in St. Charles, Ill.

by Jaime Lackey September 30, 2014

SAINT CHARLES, ILL. — NAI Hiffman has arranged the sale of two office condominiums totaling 8,238 square feet in St. Charles. The properties are located at 3310 W. Main St. The buyer, Trustee for Landrus Realty 401K Plan & Pension Fund, purchased the suites as an investment. The property features a brick and stone veneer exterior, an atrium, signage along Route 64 and Peck Road and is less than three miles from Delnor Community Hospital. Adam Johnson of NAI Hiffman’s office services group represented PB II OREO LLC in the transaction. Jake Finley of Conlon Commercial represented the buyer.

September 30, 2014

Colorado Multifamily Western

Remington Place Apartments in Denver Changes Hands

by Jaime Lackey September 30, 2014

DENVER — The 120-unit Remington Place apartment complex in Denver has sold to Virtú Investments for $15.1 million. The community is located at 8000 E. Girard Ave. It was built in 1970. The property is near the DTC Business Corridor, the largest employment center in metro Denver. It was 95 percent leased at the time of sale. The seller, Busboom Group, was represented by Terrance Hunt, Shane Ozment, Andy Hellman and Kevin Jewett of ARA Colorado.

September 30, 2014

Midwest Missouri Multifamily

M&M Arranges $26.8M Sale of Apartment Community in St. Louis Suburb

by Jaime Lackey September 30, 2014

MARYLAND HEIGHTS, MO. — Marcus & Millichap has arranged the $26.8 million sale of Cedar Trace Apartments, a 372-unit property in Maryland Heights, a suburb of St. Louis. The sales price equates to $72,043 per unit. The property is located at 2000 McKelvey Hill Drive. Built in 1972, the property features 50 two- and three-story buildings. The average unit size is 1,158 square feet and the average monthly rent is $854. David Gaines and Alex Blagojevich of Marcus & Millichap, along with William Holman of the firm’s Missouri office, represented the seller, TGM Associates. Monarch purchased the property.

September 30, 2014

Multifamily New York Northeast

Marcus & Millichap Arranges $2M Sale Of Apartment Building

by Jaime Lackey September 30, 2014

RIDGEWOOD, N.Y. — Marcus & Millichap has arranged the sale of 759 Seneca Ave., an apartment building located in Ridgewood. The five-unit residential property sold for $2 million. Derek Bestreich, Lucien Sproviero and Steve Reynolds of Marcus & Millichap’s Brooklyn office represented the seller, a limited liability company, and the buyer, another limited liability company, in the transaction.

September 30, 2014

Retail Western

GOLDEN GATE BELL ACQUIRES 72 BAY AREA TACO BELLS

by admin September 18, 2014

SAN FRANCISCO — Golden Gate Bell Restaurant Holdings (GGBRH) has acquired 72 Taco Bell restaurants in the Bay Area for an undisclosed sum. The restaurants are located throughout the Bay Area, from Benicia to Santa Cruz to Tracy. GGBRH is an affiliate of A&C Ventures Inc. (ACV). ACV now has an ownership stake in more than 100 YUM! Brands restaurants through its partnerships. The seller, franchisee Dolan Foster Enterprises LLC (DFE), opened its first Taco Bell restaurant in Oakland in 1969. DFE was one of the larger Taco Bell franchises in the nation.

September 18, 2014

Retail Western

CANYON HILLS MARKETPLACE IN LAKE ELSINORE SELLS FOR $33.5M

by admin September 18, 2014

LAKE ELSINORE, CALIF. — HELF Investments has acquired Canyon Hills Marketplace, a 108,358-square-foot neighborhood shopping center in Lake Elsinore, for $33.5 million. The center is located at 25381-25341 and 29996-29997 Canyon Hills Road. Canyon Hills is fully occupied by tenants like Stater Bros., CVS, Jack in the Box, Wells Fargo, Carl’s Jr. and Panda Express. The center opened in two phases in 2006 and 2009. CBRE’s Reg Kobzi, Joel Wilson and Peter Orth represented both the buyer and seller, CHMP No 1 LLC & CHMP II Owner LLC, in this transaction.

September 18, 2014

Retail Western

WAIKOLOA HIGHLAND CENTER IN HAWAII SELLS FOR $22.4M

by admin September 18, 2014

WAIKOLOA VILLAGE, HAWAII — Waikoloa Highland Center, a 73,524-square-foot shopping center in Waikoloa Village, has sold to an unnamed buyer for $22.4 million. The center is located at 68-1845 Waikoloa Road on the Big Island of Hawaii. Waikoloa Highland is situated on the main road connecting Waikoloa to Hilo. It is 75 percent occupied. The center is anchored by Waikoloa Village Market. Other notable tenants include Chevron, Subway and First Hawaiian Bank. Waikoloa Highland is the only full-service grocery-anchored center in the entire trade area of Waikoloa Village within a 17-mile radius. The seller, 3D Investments, was represented by Donald MacLellan, Richard Chichester and Thomas Chichester of Faris Lee Investments.

September 18, 2014

Industrial Western

FIRST COMMONS INDUSTRIAL COMPLEX IN PHOENIX SELLS FOR $6M

by admin September 18, 2014

PHOENIX — First Commons at West 10, a 99,528-square-foot industrial complex in Phoenix, has sold to Enright Capital for $6 million. The building is located at 4625 and 4635 W. McDowell Road. It was built in 2002. The property was 60 percent leased at the time of sale. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley represented both the buyer and seller, MDI Capital, in this transaction.

September 18, 2014

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