Cassidy Turley BT Commercial Investment Division Significant Deals - June 10, 2010

Investment Services Group, Net Leased Investment Group & Multi-Family Group

Published on June 10, 2010


Euphoria Hospitality Acquires San Francisco Boutique Hotel for $4.9 Million

June 10, 2010 – Eric Gunderson with Cassidy Turley BT Commercial’s Hospitality Group and based in the firm’s San Francisco office has represented buyer Euphoria Hospitality, Inc. in the acquisition of 19,543-square-foot hotel in San Francisco for a price of $4,900,000 ($251 per square foot). The seller was Pacific Equities West. The nearly 100-year old, five-story property is located at 835 Hyde Street and is commonly known as The Nob Hill Hotel.

14-Unit Apartment Building Sold for $3.35 Million Near Downtown San Carlos

June 10, 2010 – Jamie D'Alessandro and Jocelyn Jamias Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office recently closed the sale of a 14-unit apartment building for $3,350,000 or $239,000 per unit. The property is located at 736 Walnut Street in San Carlos. Jamie represented the seller and Jocelyn represented the buyer. This well maintained property was built in 1986 with very spacious units comprised of four (4) 2-bed/1-bath units and ten (10) 2-bed/2-bath units. The units range in size from 977 square feet to 1,430 square feet. The property is located within one block of downtown Laurel Street in San Carlos close to all amenities, restaurants and shopping.

Newly Built Tractor Supply Property Sold for Over $3.2 Million in Northeast

June 10, 2010 – Andy Bogardus, Douglas Longyear and Chris Sheldon with Cassidy Turley BT Commercial’s Net Leased Investment Group and based in the firm’s San Francisco office represented seller in the sale of a 19,000-square-foot freestanding retail building in the Northeast for over $3,200,000. The building was fully leased for 15 years to Tractor Supply Company. The lot size totals 4.7 acres (204,732 square feet).

BB&T Tenanted Building Outside Tampa Sells for Roughly $2.175 Million

June 10, 2010 – Bob Tuller, Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Group and based in the firm’s San Francisco office have collaborated to represent both parties in the sale of a 5,000-square-foot bank building for $2,174,800 ($435 per square foot) in Palm Harbor, FL, which is about 10 miles northwest of Tampa. Tuller solely represented the seller and the Sanners represented the buyer in the transaction. The property is located along US Highway 19 North and is fully leased to Branch Banking & Trust Company (BB&T).

11-Unit Apartment Complex Sold for Even $2 Million in Mountain View

June 10, 2010 – Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office has represented both parties in the sale of an 11-unit apartment complex in Mountain View for an even $2,000,000, or a price of $181,800 per unit. The buyer was El Camino Real Partnership, LP and the seller was SCI. Located at 1870 California Street, the property had an excellent unit mix and recently had a full exterior rennovation . The property is well located between El Camino Real and Central Expressway and is close proximity to the city’s historic downtown and all its amenities as well as the CalTrain station.

Wachovia Bank Ground Leased Property Bought for $1.42 Million Near Houston

June 10, 2010 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Group and based in the firm’s San Francisco office have represented the seller, a Houston developer, in the sale of a 39,640-square-foot parcel located just west of Houston, TX for $1,420,000 ($36 per square foot). The property is ground leased to Wachovia Bank. The buyer was a Fresno-based investor.

IHOP Restaurant Building Sold as Sale/Leaseback for $1.1 Million in Oklahoma City

June 10, 2010 – Steve Crane with Cassidy Turley BT Commercial’s San Francisco office has represented buyer Jin & Sohui Ko in the purchase of a 5,000-square-foot restaurant building in Oklahoma City for $1,100,000 ($220 per square foot). The seller was Belle Isle IHOP, LLC. The property is located on North Classen Road. IHOP will remain a tenant in the building. The price reflected a CAP rate of 6.8%.

6-Unit Apartment Building Sold for Over $1 Million at Sunnyvale/Cupertino Border

June 10, 2010 – Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office has represented both buyer and seller in the sale of a 6-unit apartment building located at 654 Kirkland Drive in Sunnyvale for $1,040,345, equating to a price of $173,390 per unit. The property is located near the intersection of Hollenbeck Avenue and Homestead Road close to the Sunnyvale/Cupertino border and provides easy access to Highway 280 and Highway 85. Additionally, it is part of the distinguished Cupertino School District and is located nearby De Anza College.

KFC Sale/Leaseback Property Sold for $965,000 in Indianapolis

June 10, 2010 – Jamie D’Alessandro with Cassidy Turley BT Commercial’s Palo Alto office has represented the buyer in the purchase of a 2,610-square-foot freestanding retail building in Indianapolis for $965,000 ($370 per square foot). The seller was an Arizona-based investment group. This was a sale-leaseback transaction that had a brand new 15-year absolute NNN lease in place at close of escrow from KFC, with an experienced 43-unit operator. The leaseback terms included two (2) five-year options with 10% increases every five years.

Fully Leased Fourplex Sold in San Jose’s Blossom Valley for $886,500

June 10, 2010 – Scott Kilpatrick with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office has represented seller(s) Mai Ha Duy and Dhau Hong-Van Thi in the sale of a fourplex multi-family property located in San Jose’s Blossom Valley area for $886,500, or $221,625 per unit. The 40-year old property is well located at 5851 El Zuparko Drive and consists of four oversized units, to include: one (1) 3-bed/2-bath unit, one (1) 2 bed/1.5-bath unit, and two (2) 2-bed/1-bath units. All units were leased at time of sale. The property is convenient to major highways, public transportation and Westfield’s Oakridge shopping center.

Dollar General Retail Property in Little Rock, AR Suburb Sold for $785,000

June 10, 2010 – Rick Sanner and Bob Sanner with Cassidy Turley BT Commercial’s Net Leased Investment Group and based in the firm’s San Francisco office have brokered the sale of a 9,014-square-foot freestanding retail building located in a suburb of Little Rock, AR for $785,000 ($87 per square foot). The property is fully leased to Dollar General, a variety store. The Sanners represented both the seller, a developer, and the buyer, a private investor, in the transaction.

6-Unit Apartment Building in Desirable Berkeley Area Sold for $710,000

June 10, 2010 – Alex Wang and Chris Smith with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Oakland office have represented seller Robert Wieczorek in the sale of a 6-unit aparment building in Berkeley for $710,000, or a price of $118,333 per unit. The two-story apartment building is located at 1534 Harmon Street and is comprised of all newly renovated 2-bed/1-bath units, each totaling 750 square feet in size. The property is located nearby Ashby BART and both 580 and 24 freeways.

Fourplex in Highly Accessible Mountain View Location Sold for $666,000

June 10, 2010 – Bryan Danforth and Brian Henry with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s Palo Alto office have represented seller Alberto Dizon in the sale of a fourplex located at 318 Gladys Court in Mountain View for $666,000, or $166,500 per unit. The buyer was Zhaogong (Jeff) Shi. The property is highly accessible between Middlefield Road and Central Expressway and is at the heart of the junction points of Highways 101, 237 and 85.

6-Unit Apartment Building Sold in San Francisco’s Mission District

June 10, 2010 – Steve Crane with Cassidy Turley BT Commercial’s Multi-Family Group and based in the firm’s San Francisco office has represented both parties in the foreclosure sale of a 6-unit apartment property in San Francisco’s Mission District. The seller was Bay Area Loan Servicing and the buyer was Frank & Janet Panacci.

 

Cassidy Turley BT Commercial provides this information based on best-available knowledge and does not warrant accuracy provided us by 3rd parties. For further verification and/or questions, please contact the brokers listed below with the particular news announcement.

 

Contact:
Mark Bollozos, (415) 781-8100, mbollozos@ctbt.com

 

About Cassidy Turley BT Commercial

Cassidy Turley BT Commercial, one of the most powerful commercial real estate firm in Northern California, has joined forces with other leading private commercial real estate firms to form Cassidy Turley, now the leading privately-held commercial real estate firm in the U.S. Cassidy Turley BT Commercial has over 400 agents and staff in 16 offices locally and over $70 billion in transactions in our 29-year history. For more info, visit us at www.ctbt.com

 

Cassidy Turley BT Commercial’s Investment Division consists of five specialized investment groups:

Investment Services Group – Trusted advisors of institutional and high-net worth private capital investors with an impressive 5 year record of over 275 investment sales.

Net Leased Investment Group –Leading provider of net-leased investment brokerage services, for nearly 50 years delivering buyers nationwide with 360 transactions since 2003.

Terranomics Investment Services – Terranomics, Cassidy Turley BT Commercial’s retail division, providing comprehensive retail investment services and completing 628 transactions in the past 5 years.

Multi-Family Group – The Multi-Family Group is recognized as Northern California’s premier provider of apartment brokerage services with an impressive 300+ transactions since its inception in 2003.

Hospitality Group – Cassidy Turley BT Commercial’s newly formed practice group specializing in the lodging sector with multiple listings and closings since 2008.

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