SAN MATEO, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm announced that it represented Grubb & Ellis Realty Investors, LLC in the sale of a 12-asset national portfolio.
The investment subsidiary managed the properties on behalf of a private investor.
Seth McKinnon and Steven Golubchik, vice presidents of the company’s Private Capital Markets group, along with local market professionals, represented the investor in the sale of 11 of the properties to American Realty Capital II LLC.
Riki Hashimoto, senior vice president, Investment Services, represented the private investor in the sale of Broomfield Corporate Center, 11525 Main St., Boulder, CO, (top left photo) a 93,000-square-foot data center building fully occupied by TIAA-CREF Individual & Institutional Services LLC.
“The portfolio offered the buyer the unique opportunity to acquire a portfolio with a diverse tenant mix. Also, we believe that we were able to maximize the return for our clients by marketing the 11 retail properties as one portfolio and transacting the data center as individually,” said McKinnon.
The 11-asset portfolio includes:- ·Four single-story buildings located in Joliet, Ill.; Marysville, Ohio; Austin, Texas; and Chelsea, Ala., offering approximately 15,000 square feet of space, and one two-story building located in Upper Arlington, Ohio, offering roughly 25,000 square feet of space. All five buildings are fully occupied by Walgreens.
- ·Two properties located in Carpentersville, Ill., and Northlake, Ill., offering 4,400 and 3,850 square feet of space, respectively. Both single-story buildings are 100 percent leased to JPMorgan Chase & Co.
- Two single-story buildings 100 percent leased to Fifth Third Bank in Schaumburg and Montgomery, Ill. The properties each offer approximately 4,000 square feet of space.
- ·The CVS Pharmacy building located at 2738 N. Decatur Road in the Atlanta suburb of Decatur, offering 15,500 square feet of space.
- The Home Depot property located at the intersection of Floyd Road and the East-West connector in Austell, Ga., which offers 131,000 square feet of space situated on roughly 15 acres of land.
Locally, Moody Younger, executive managing director, Texas; Justin Stanley, senior vice president, sales director, Chicago; Brett Hunsaker, executive vice president, Managing Director, Atlanta; Bob Nosal, executive vice president, managing director, Cleveland, and John Peebles, SIOR, CCIM, Grubb & Ellis|Peebles and Cameron LLC, Mobile, Ala.; assisted in the sales of the individual properties.
Contact: Julia McCartney, Phone: 714.975.2230
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