sales_and_leases

Quail Ridge Apartments in Thornton, Colorado, Sells for $22M

by Nellie Day November 28, 2017

THORNTON, COLO. — Pathfinder Partners has acquired the 140-unit Quail Ridge Apartments in Thornton for $22 million. The community is located at 501 E. 102nd Ave. Pathfinder plans to renovate and rebrand the community, as well as upgrade its amenity package. Built in 1985, Quail Ridge is situated on 6.2 acres. The community includes a one-story leasing office and clubhouse, along with a variety of amenities, including covered parking, swimming pool, spa, business center, basketball court and fitness center. Shane Ozment and Terrance Hunt of ARA Newmark brokered the transaction. Brian Eisendrath and Cameron Chalfant of CBRE Capital Markets arranged debt financing.

November 28, 2017

Colorado Multifamily Western

Griffis/Blessing Acquires 152-Unit Apartment Complex in Colorado Springs for $21M

by Nellie Day November 28, 2017

COLORADO SPRINGS, COLO. — Griffis/Blessing has purchased the 152-unit Western Hills apartments in Colorado Springs for $21 million. The community is located at 810 Western Drive. The site is near the Colorado Springs Airport in an area seeing more than $100 million in new development. Community amenities include a clubhouse, business center, 24-hour fitness center, heated outdoor pool, playground, basketball court and café/lounge area. Prior to the sale, Western Hills had begun capital improvements, including replacement of windows, appliances, countertops, cabinets, flooring and landscaping. CBRE’s Dan Woodward, David Potarf, Matt Barnett and Jake Young, along with Colorado Multifamily Investment Properties, represented the seller, Evergreen Real Estate, in this transaction. Brady O’Donnell of CBRE Capital Markets, Debt & Structured Finance arranged the FMAC financing.

November 28, 2017

California Office Western

Laurus Corp. Buys 72,928 SF Medical Office Building in Southern California

by Nellie Day November 28, 2017

LAGUNA HILLS, CALIF. — An affiliate of Laurus Corp. has purchased Saddleback Financial Center, a 72,928-square-foot medical office tower in Laguna Hills, for an undisclosed sum. The building is situated adjacent to Laguna Woods Village and the Laguna Hills Mall in the South Orange County submarket. Saddleback Financial Center is currently 68 percent leased. Notable tenants include the Department of Rehabilitation and California Bank and Trust. The four-story building was renovated in 2003. HFF’s Evan Kovac, Derreck Barker, Andrew Milne and Trent Jemmett represented both the buyer and seller, True North Management Group, in this transaction.

November 28, 2017

California Office Western

Tower Investments Purchases Office Building in San Diego for $3.2M

by Nellie Day November 28, 2017

SAN DIEGO — Tower Investments LLC has acquired a 19,129-square-foot office building in the San Diego submarket of La Jolla for $3.2 million. The building is located at 800 Silverado St. The three-story building is situated on an 11,326-sqaure-foot parcel with a remaining 31-year ground lease. The building was constructed in 1986. It was fully occupied at the time of sale. Notable tenants include City National Bank and Blanchard, Krasner and French law firm. The LLC represented itself, while Paul Lafrenz of Colliers International and Pascal Aubry-Dumand of JLL represented the seller, Laubro No.1 LLC, in this transaction.

November 28, 2017

North Carolina Office Southeast

Trinity Partners Brokers Sale of 357,654 SF Office Park in Charlotte

by Camren Skelton November 28, 2017

CHARLOTTE, N.C. — Trinity Partners has arranged the sale of Harris Corners Corporate Park, a three-building, 357,654-square-foot office park in Charlotte. Dunn Mileham, David Morris, Mark Alviano, Jennifer Kurz and John Ball of Trinity Partners arranged the transaction on behalf of the seller, an entity affiliated with New Boston Fund. Bridge Investment Group acquired the buildings for an undisclosed price. At the time of sale, Harris Corners was 84 percent leased to more than 40 tenants. Trinity’s Ball and Kurz will continue to handle the property’s leasing assignment under the new ownership.

November 28, 2017

Georgia Industrial Southeast

Cushman & Wakefield Secures 505,000 SF Industrial Lease for Clothing Wholesaler South of Atlanta

by Camren Skelton November 28, 2017

MCDONOUGH, GA. — Cushman & Wakefield has secured a 505,000-square-foot lease for S&S Activewear at Midland Logistic Center in McDonough, roughly 30 miles south of Atlanta. The Illinois-based company is a national wholesaler of imprintable apparel and stocks more than 60 brands. Britt Casey of Cushman & Wakefield represented S&S Activewear in the lease negotiations, and Lisa Pittman, Ray Stache and James Philpott of Cushman & Wakefield represented the landlord, Scannell Properties. The new warehouse will serve as a regional distribution center for the apparel company and will create more than 300 jobs over the next four years. The facility is expected to be operational by the second quarter of 2018.

November 28, 2017

Industrial Texas

JLL Arranges Sale of 454,408 SF Distribution Center in Metro Dallas

by Taylor Williams November 27, 2017

DESOTO, TEXAS — JLL has arranged the sale of Eagle Park 20/35, a 454,408-square-foot distribution center located at 1240 E. Centre Park Blvd. in the Dallas metro of DeSoto. The Class A facility is situated on 29.5 acres and features access to Interstates 20 and 35. Dustin Volz and John Huguenard of JLL represented the seller, a joint venture between Ridgeline Property Group and Stockbridge Capital Group, and procured the buyer, an undisclosed institutional investor.

November 27, 2017

Industrial Self-Storage Texas

SST IV Acquires 480-Unit Self-Storage Facility in Texas City

by Taylor Williams November 27, 2017

TEXAS CITY, TEXAS — Strategic Storage Trust IV Inc. (SST IV), a public, non-traded REIT, has acquired a 480-unit self-storage facility located at 3730 Emmett F. Lowry Expressway in Texas City, about 45 miles southeast of Houston. Built in 2010, the 8,000-square-foot facility is situated on 10.5 acres and offers climate-controlled interiors and drive-up access. The property was approximately 95 percent occupied at the time of sale.

November 27, 2017

Retail Texas

STRIVE Brokers Sale of Retail Pad Site Leased to Dairy Queen in Houston

by Taylor Williams November 27, 2017

HOUSTON — STRIVE has brokered the sale of a retail property leased to Dairy Queen in Houston. The property is a pad site to Mount Houston Square Shopping Center, a 175,000-square-foot retail center located on the city’s north side. Jason Vitorino of STRIVE represented the seller, an Atlanta-based developer, and procured the buyer, a Houston-based investor. Other terms of sale were not released.

November 27, 2017

Midwest Multifamily Nebraska

Lund Co. Brokers $19.9M Sale of Multifamily Portfolio in Metro Omaha

by Kristin Harlow November 27, 2017

OMAHA, NEB. — Cushman & Wakefield/The Lund Co. has brokered the sale of a 295-unit multifamily portfolio in metro Omaha for $19.9 million. Fireside Village is a 180-unit property located at 8214 Wilson Drive in Ralston. Chateau Apartments is a 115-unit property located at 401 Cheateau Drive in Bellevue. Although the portfolio was marketed as a whole, two separate buyers purchased the buildings. Vukota Capital purchased Fireside Village, while Strategic Funding Partnership acquired Chateau Apartments. Scott Koethe of Cushman & Wakefield/The Lund Co. represented the seller, Hudson Equities Management Corp.

November 27, 2017

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