Top real estate deals of '07 - Dallas Business Journal:

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That trend was no more evident than the February sale of two large office andwarehouse properties. of Centerville sold the buildingxfor $27.5 million to New York And while Mark Fornes, agreed that 2007 may have been lite on "home it was a solid year for commerciakl real estate deals, especially in the health care and governmenyt sectors. "In Dayton, we hit a lot of singles and Fornes said. Other notable deals involved an office complex, hotel property and a substantial apartmeny unit. So, here are the top real estats deals of 2007 compiled by the DaytonBusiness Journal. Top doesn't just mean largest dollar amount.
We also considere d location, regional impact and Mark Fornes sells propertiesfor $27.5M Mark Fornew Realty sold two large south Dayto commercial properties to New York investors for $27.5t million. The Centerville-based firm closed the sale of Lyond Business Park in inMoraine Feb. 9 to groupz managed by Joseph Chira andJoseph Combined, the properties have more than 450,000 squard feet of office/warehouse space, said Mark Fornes, principak and managing partner for Mark Fornews Realty.
The deal illustrates a continued trendof out-of-town investorsa buying commercial properties in Dayton and other smaller Midwestern markets because the prices are comparativelh low and the return on investmenty high. Fornes said he received five offeras onthe properties, none from local suitors. Fornex and his other investment partners put the buildingss on the selling block because of the aggressive interest in the marke tby out-of-town buyers. "Wed didn't feel there had ever been a better time to exit the Fornes said. Point West, a three buildint office complex along Kettering Boulevarrin Kettering/Moraine, sold for $7.4 millionm in June.
Cleveland-based gobbled up the 174,000-square-foot from seller LNR Propertiesz outof Florida. The move boosteds Munsell's local holdings, as Point West ranksa as the ninth largest suburbanofficee center, according to Dayton Business Journal research. The firm also owns the , the area'zs largest suburban office center. Tony Witt, vice president and principap of , brokered the deal and said the Poinft West sale was a high point in an otherwise flatofficew market.
One of the most recognizable healthcare buildings, the Wrigh t Health Building, sold for $10 million in California-based bought the green-glass medical offices at Patterso n Boulevard and Stewart The building marks the southern entrancde to downtown Dayton. The new owners bought the building fromThe , a Dallas-based commercia real estate firm. The transaction mark s the second time in two yeare that the property haschangec hands. In May 2005, Cirrus purchased it for $8.2 Mark Wallace, executive vice president and chief financial officer for HealthCare Property, said the group acquiredc the building as part of a largetr group of properties spreasd over several states.
Wallace said that the Dayton building's close proximitgy to Miami Valley Hospital made it anattractive acquisition.