Commercial real estate deal

7-Figure+ Deals That Closed in April

In a recent blog post, Rethink CEO Vijay Mehra noted that while the current economic downturn has caused transactions to slow down, “deals are going to continue to happen.”

The commercial real estate industry is proving him right.

Below, we detail three deals that closed at seven figures or more last month.

$3,350,000 Sands Investment Group Texaco Truck Stop Deal

Picture of Texaco truck stopSands Investment Group brokered the sale of a Texaco Truckstop for $3,350,000 last month.

Rahill Lakhani and Munir Meghjani represented the seller, while Susan Annis represented the buyer.

“The deal became a little more difficult as COVID-19 forced people out of their offices and regular routines,” said Sands Investment Group VP of Operations Ryan Passe. “Both sides worked through the new rules and regulations to get the lender comfortable with the deal and managed a socially distant and electronic-based closing. A win-win for all involved.”

$15,300,000 MIG Real Estate Office Deal

On April 29, Commercial Property Executive reported, “MIG Real Estate has sold the 72,803-square-foot Viewridge Business Park in San Diego to Dollinger Properties for $15.3 million.”

The article went on to state “the three two-story buildings occupy a 3.7-acre site. The property received $2.5 million in capital improvements during the past four years.”

$4,785,000 Meridian Capital Group/Cushman & Wakefield Multifamily Deal

On April 21, The New York Times reported the sale of a 32,173-sf multifamily building in the Corona neighborhood for $4,785,000.

Amit Doshi of Meridian Capital Group represented the buyer, while Stephen R. Preuss and Kevin Louie of Cushman & Wakefield represented the seller.