Deals
National Fitness Partners Doubles NC Footprint
GNT Holdings sold 12 Planet Fitness clubs operating in Charlotte to National Fitness Partners, which is backed by Argonne Capital Group.
$325M San Diego Mixed-Use Project Underway
A joint venture affiliated with Hammer Ventures recently acquired a former post office property in the city’s Point Loma/Midway district, which it plans to develop into a mixed-use project tentatively called The Point.
RNY Property Trust Continues NY-Area Disposition Plan
The REIT selected Cushman & Wakefield to market the sale of its six-building Westchester County portfolio. It most recently sold 555 White Plains Road in Tarrytown, N.Y., marking the company’s third sale in this portfolio, this time to Mack-Cali Realty-owned Robert Martin Co.
San Jose Office Building Trades for $82M
The 155,000-square-foot facility changed ownership for the third time in two years. The previous owners acquired the property half a year ago.
LAX Office Tower Trades
The new owner plans to reposition the asset, with changes including a complete rebranding, cosmetic exterior upgrades, and a full renovation of the lobby and entrance.
Rees Properties Acquires Redwood City Office Asset for $32M
HFF marketed the sale on behalf of Griffin Capital, who acquired the property in 2007 for $24 million from DPR Construction. The sale of 1450 Veterans Blvd. was subject to a $17.9 million loan held by Northern Trust.
Griffin Capital Acquires Part Of Indianapolis Office Campus
The transaction price for the 133,400-square-foot, Class A office building was $29 million. The facility is one of three properties making up Midcontinent Independent System Operator Inc.’s headquarters and is fully leased for the next 11 years.
Meritex Snags 300 KSF Industrial Property
1080 Park Place in Shakopee, Minn., was built in 1993 by The Opus Group and boasts full occupancy. Steve Dorff, senior asset manager with Meritex, will manage the property.
Louisiana Triple Net Lease Dollar General Changes Hands
The 10,640-square-foot building traded for $1.3 million. The Dollar Tree lease featuring no landlord responsibilities is set to expire in 2031.
CBRE Closes Sale of Ft. Lauderdale-Area Retail Asset
Advance Auto Parts has been operating at the location for the past 25 years and has recently signed a 10-year lease renewal.