written by
Anton Myskiw

Intersection Makes First Nevada Acquisition Adding to a Diverse Portfolio of Value-Add Properties in Attractive Growth Markets

LAS VEGAS, Nevada. – Intersection officially announced the close of escrow on a 100% occupied 18-unit flex industrial property in Las Vegas, Nevada for $4,525,000. This property is the seventh acquisition made by the company crossing $70M of total capitalization.

The property, located at 4355 -4375 W. Reno Ave., Las Vegas, NV 92105 is a two-building project in West Las Vegas and was purchased in an off-market transaction from a local ownership group. The deal was sourced off-market through a local broker Erik Sexton of NAI Excel Las Vegas.

“This was a property that needed institutional quality management and an entrepreneurial strategy. Intersection recognized the value and moved quickly.”

Said Sexton. Intersection Senior Analyst Anton Myskiw added, “We have been working diligently to find industrial/flex assets in this market. We’ve already completed 3 new leases and will execute a value-add plan that improves operations as well as the curb appeal of the property.”

The asset is currently 100% leased by a wide cast of both local and regional tenants, with 72% of the building’s occupancy rolling in the next 12 months. Las Vegas is an attractive industrial growth market, given its positioning as a centrally located logistics hub for the Western region of the states. With 8.5M SF of industrial space under construction in the second quarter of 2021- Intersection is confident this property is a prime candidate to attract auxiliary/complementary users servicing the larger projects-general contractors, material vendors, and other development-focused tenants.

To learn more about this transaction or to inquire about how to invest in a portfolio property please contact Senior Analyst Anton Myskiw at [email protected]

Autumn Valencia is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Autumn at [email protected] 

written by
Kyle Clark

San Diego Investor Sells Asset in Salt Lake City 

The property located at 477 North 300 West in Salt Lake City UT, and which currently operates as a Dollar Tree, was sold to the regional franchisee of Ace Hardware. The buyer will occupy the property following the expiration of the current lease with Dollar Tree.

Kyle Clark represented the seller and San Diego-based investor previously and was the original broker to assist the Fischbeck Family trust in acquiring the property a few years ago in a 1031-exchange transaction. The interest to sell first sparked early this year when the single-tenant Dollar Tree, passed on their renewal option and asked for a rent reduction in order to remain on the lease. Kyle advised his client to do some preliminary listing work to see how the market would respond to the property; it is during this process multiple inquiries and qualified prospects had surfaced. One of the prospects that Kyle connected with was the regional franchisee for Ace Hardware, the offer was submitted quickly and Kyle represented both the buyer and seller. The property sold for almost double the price initially paid only a few years prior. 

This sale was able to allow the client to parlay the gain into a newly built Dollar General in Arkansas where they are able to increase investment cash-flow while retaining enough gain to roll over into personal properties.

To learn more about this transaction or to inquire about brokerage representation, please contact Senior Director Kyle Clark at [email protected]

Autumn Valencia is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Autumn at [email protected] 

written by
Natalie Baylon

Freestanding industrial building closes for $7,515,500 in Carlsbad 

Intersection Senior Director, Henry Zahner represented the seller in the sale of the North County freestanding industrial building for $7,515,000. The 42,260 square-foot property consists of vast warehouse space that has been immaculately kept.

The facility was previously occupied by Newport Blue, Skivia Graphics, and other top manufacturers. Today, the facility located at 2258 Rutherford Rd. in Carlsbad CA, is the future home to the new owner-user who has business interests that will occupy the facility and compliment the surrounding area.

The property’s location within the Carlsbad Research Center in coastal North County is a current ‘hot market’ for Biotech and Life Science sectors where many competing properties have been snapped up in recent months. Both the seller and buyer couldn’t have been happier with the outcome with both a competitive price point and an easy close.

For more information on this deal or if you would like to discuss Intersection representation further, please reach out to Henry Zahner at 760-889-7943 or [email protected].

Autumn Valencia is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Autumn at [email protected] 

written by
Kyle Clark

Freestanding Dairy Queen in Spring Texas is acquired with 19 years remaining on a 20 year, absolute NNN lease.

Intersection Senior Director, Kyle Clark represented the buyer in the sale of the freestanding drive-through Dairy Queen for $3,100,000. The 3,098 square-foot property is situated in a regional trade area, which has undergone a new wave of retail growth. Approximately 400,000 SF of retail has been added to the surrounding area within the last five years.

The design is the latest Dairy Queen prototype, with a larger format, reflecting the refined direction that the corporation has adopted following Warren Buffett’s acquisition of the brand. This location is currently outperforming the sales of other Dairy Queens in the Greater Houston area and is continually meeting and surpassing profit margins even throughout the COVID-19 indoor restaurant closures.

Mr. Clark was approached by the buyer’s family attorney to locate a suitable property to complete the buyer’s 1031-exchange, following the sale of their multi-family apartment project. The buyer’s goal was to shelter their substantial gain while relieving them of the daily property management tasks associated with a substantial apartment complex. Kyle was hyperfocused to find a property that would be truly passive and self-sufficient in ownership responsibilities that will also provide a reliable stream of income to sustain them for the remainder of their lifetimes. Eventually, the property will pass to the next generation of kin established through their family trust. Although the buyers are San Diego residents, the focus was on properties outside California to maximize the return with lower Cap-Rates. Following this sale, a second NNN property has been identified which will also be purchased by year-end to complete the exchange requirement.

For more information on this deal or if you’d like to discuss Intersection representation further, please reach out to Senior Director Kyle Clark at 619.997.9537 or [email protected]

Autumn Valencia is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Autumn at [email protected] 

written by
Emily Bane

Ideal Location For Tech Company Within Vista Industrial Park

Intersection Senior Director, Henry Zahner represented the seller in the sale of the freestanding industrial building for $1,685,760. The 8,780 square-foot property consists of office and warehouse space, most of which has undergone recent renovations.

The single-story facility was previously headquarters to ICP America, owned and operated by the seller, Puglisi Family Trust. Today, the facility located at 1070 Joshua Way, Vista, CA 92081, is the future home to Techmaster Electronics, a global leader in electronic test equipment calibration services. The buyer, Celtic Blue, LLC (aka Techmaster Electronics), was represented by Dave Steffy of Palomar Commercial.

The property’s location within the Vista Industrial Park of North County is ideal for the buyer who services clients all over Southern California, as well as nationwide. The central location between Orange County and San Diego is reputable for its diverse and strong economic region.

For more information on this deal or if you’d like to discuss Intersection representation further, please reach out to Henry Zahner at 760-889-7943 or [email protected].

Emily Bane is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. Contact Emily at 619-819-8725 or [email protected]

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