REBusinessOnline

Cushman & Wakefield Arranges $6.9M Sale of Two Walgreens-Occupied Assets in Metro Phoenix

PHOENIX AND SURPRISE, ARIZ. — Cushman & Wakefield has brokered the sales of two retail properties, located at 1840 W. Southern Ave. in Phoenix and 14285 W. Grand Ave. in Surprise. The properties were controlled by Grand Village CFI of Telluride, Colo. The two single-tenant properties, totaling 29,300 square feet, were 100 percent occupied by Walgreens at the time of sale. Rolling Hills Estates, Calif.-based Cove Capital acquired the 14,560-square-foot property in Phoenix for $4.6 …

Norris & Stevens Brokers Sale of 44-Unit Springhaven Apartments in Oregon for $6.7M

WOODBURN, ORE. — Portland-based Norris & Stevens has arranged the sale of Springhaven Apartments, a duplex and townhome project in Woodburn. An investment group led by Portland-based Russell Hosner LLC acquired the asset for $6.7 million as part of a 1031 tax-deferred exchange. The sellers were The James A. Halter Revocable Living Trust and David L. & Gaylene M. Lund. Located at 1108-1196 Park Circle and 1625-1667 Park Ave., the property consists of 19 buildings on 45 separate tax …

Quantum Commercial Group Negotiates $1.5M Sale of Industrial Building in Colorado Springs

COLORADO SPRINGS, COLO. — Quantum Commercial Group has arranged the sale of an industrial property, located at 2028 Aerotech Drive in Colorado Springs. Aerotech LLC sold the building to KGB LLC for $1.5 million. The property features 15,249 square feet of industrial space. Mary Francis Cowan of Quantum Commercial Group represented the seller, while Mike Helwege and Parker Curry of Core Commercial represented the buyer in the

Colliers Brokers Sale of 163,000 SF Industrial Building in Ripon, Wisconsin

RIPON, WIS. — Colliers International has brokered the sale of a 163,000-square-foot industrial building in Ripon in central Wisconsin. The sales price was not disclosed. The property is situated on 13 acres at 100 Creative Way and is served by the Wisconsin Southern Railroad. The buyer, Rogers & Rogers Inc., intends to occupy about one-half of the building and lease the other half to other companies within

Armstrong Capital Buys Arvada Connection Shopping Center in Metro Denver for $17.5M

ARVADA, COLO. — Denver-based Armstrong Capital Development (ACD) has acquired Arvada Connection, a shopping center in Arvada, a suburb of Denver. Walton Street Capital sold the property for $17.5 million. Located at 5220 Wadsworth Blvd., Arvada Connection features 56,000 square feet of retail space. At the time of sale, the asset was 95 percent leased to a variety of tenants, including Chick-fil-A, Chase Bank, Taco Bell, IHOP and Sherwin Williams. ACD plans to refresh the center with …

Calavo Growers Sells Industrial Property in Southern California for $7.1M

TEMECULA, CALIF. — Calavo Growers, an international farm products company known for its distribution of avocados, has completed the sale of an industrial property located at 28410 Vincent Moraga Drive in Temecula. Stos Partners acquired the asset for $7.1 million. Calavo Growers has occupied the 64,678-square-foot industrial property since 1985. The building features an open warehouse, refrigerated cooler space, large yard space, excess land, dock loading, heavy power and 125 parking …

Compass Commercial Negotiates $4.2M Sale of Jot’s Resort Hotel in Gold Beach, Oregon

GOLD BEACH, ORE. — Compass Commercial Real Estate Services has arranged the $4.2 million sale of Jot’s Resort, a hotel located at 94360 Wedderburn Loop in Gold Beach. The names of the seller and buyer were not released. Situated on 7.3 acres at the mouth of the Rogue River, the resort features 102 one-bedroom/one-bath guestrooms, a marina, pool, gift and tackle shop, and fitness center, as well as Rod ‘n Reel Restaurant & Bar, a fully equipped restaurant. Dan Kemp of Compass …

Levin Johnston Brokers $25.5M Sale of Pacific Gardens Apartment Community in San Mateo, California

SAN MATEO, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sale of Pacific Gardens, a townhome-style apartment community in San Mateo. Located at 25 McAker Court and constructed in 1993, Pacific Gardens features 38 two-story townhouse units with two bedrooms and 2.5 bathrooms, as well as in-unit washers/dryers, private patios, fireplaces, underground parking and individual storage. Adam Levin and Robert Johnston of Levin Johnston represented the undisclosed buyer and …

CBRE Arranges $11M Sale of Parker Crossroads Retail Center in Colorado

PARKER, COLO. — CBRE has brokered the sale of Parker Crossroads, a retail center located at 10901 S. Parker Road in Parker. A California-based private investor acquired the property from St. Louis-based Pace Properties for $11 million. Hobby Lobby and Planet Fitness occupy the 94,772-square-foot, two-tenant box retail center, which was built in 1994 and situated on 9.3 acres. The property was 100 percent occupied at the time of sale. Matthew Henrichs and Brad Lyons of CBRE represented …

Harrison Street Acquires 676,917 SF Life Sciences Property Near MIT

CAMBRIDGE, MASS. — Chicago-based investment management firm Harrison Street has acquired Osborn Triangle, a 676,917-square-foot life sciences property situated adjacent to the Massachusetts Institute of Technology (MIT) campus in Cambridge. The complex encompasses three buildings, all of which were either recently built or renovated. The sale included a 650-space parking garage. Harrison Street partnered with Bulfinch Cos., a subsidiary of MIT that retains a partial interest in the property, …

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