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Honolulu retail building fetches $30M; RW Holdings pays $29M for Seattle asset


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Honolulu retail building fetches $30M; RW Holdings pays $29M for Seattle asset

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Maruito USA Inc. affiliate S2184 LLC acquired a retail building at 2184 Kalakaua Ave. in Honolulu for $30 million, the Pacific Business News reported.

* RW Holdings NNN REIT Inc. purchased a single-story, 97,191-square-foot office building in Seattle for $29.0 million. The property is fully leased to Costco Wholesale Corp. under a triple-net lease that is scheduled to expire July 31, 2025.

* Blesso Properties sold an office building at 545 Broadway in Williamsburg, N.Y., to Acuity Capital Partners for approximately $23.3 million, The Real Deal reported, citing sources with knowledge of the deal.

* Innovative Industrial Properties Inc. paid $19 million to buy a roughly 75,000-square-foot industrial property on approximately 10 acres in Barry, Ill. The company entered into a long-term, triple-net lease agreement with an Ascend Wellness Holdings LLC unit, which aims to operate the property as a medical-use cannabis cultivation and processing facility.

Innovative Industrial also agreed to provide up to $6 million to Ascend for additional tenant improvements for the property.

* Consolidated-Tomoka Land Co. sold approximately 22.53 acres of land, comprising two separate parcels on the east side of Interstate 95, to a North American Development Group affiliate for approximately $8.2 million.

Consolidated-Tomoka also paid approximately $2.3 million to acquire a single-tenant retail income property in Arlington, Texas, that is under a new 15-year lease with Romano's Macaroni Grill.

* Fronsac REIT paid C$3.7 million in cash to acquire a grocery store that operates under the IGA banner on Jacques Bédard Boulevard in Lac St-Charles, Quebec.

* RAIT Financial Trust sold the 850,000-square-foot PlazAmericas Mall in Houston to Baker Katz LLC for an undisclosed sum, the Houston Business Journal reported. The property, which was previously known as Sharpstown Mall and Sharpstown Center, is Houston's oldest enclosed mall, according to the report.

Additional news

Report: Silverstein to buy Equity Commonwealth's Philadelphia tower for $440M

Sterling Bay JV's $300M-plus deal for Chicago tower assets falls through

Report: RFR Holdings closes $181M sale of office portion of NYC property

Boardwalk Properties buys apartment complex for $119M in Davie, Fla.

CorEnergy Infrastructure sells Portland, Ore., terminal facility