REBusinessOnline

NAI Hanson Arranges Sale of 5.7-Acre Industrial Development Site in Sparta, New Jersey

SPARTA, N.J. — NAI James Hanson has arranged the sale of a 5.7-acre industrial development site in Sparta, located about 45 miles west of New York City. The property in situated within the 31.5-acre White Lake Commerce Park, which is comprised of 12 lots zoned for warehouse, office, distribution or manufacturing development. The buyer was Tomco Construction. NAI Hanson’s Sig Schorr and John Schilp represented the seller, Berardi Development Co., in the transaction. The NAI team also …

Copaken Brooks, Square Deal Investments Acquire Former Kansas City Public School Building

KANSAS CITY, MO. — Copaken Brooks and Square Deal Investments have acquired the former Kansas City Public Library and Board of Education Building for an undisclosed price. The building is located at 1211 McGee St. in downtown Kansas City. The 11-story, 261,800-square-foot property has been vacant since the Kansas City Public Schools district moved to its current location at 2901 Troost in 2016. Aaron Mesmer and Matt Levi of Block Real Estate Services represented the seller, the school …

Foothill Ranch Sells 121,883 SF Retail Space in Southern California for $22.2M

LAKE FOREST, CALIF. — Foothill Ranch LLC has completed the disposition of a portion of Foothill Ranch Towne Center, a 1 million-square-foot, master-planned regional retail center in Lake Forest. A private family trust acquired a 121,883-square-foot portion of the retail center, located at 36532 Towne Center Drive, for $22.2 million. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark Knight Frank represented the seller in the transaction. At the time of sale, five tenants fully occupied …

Matthews Real Estate Negotiates $8.3M Sale of Albertsons-Occupied Asset in Millwood, Washington

MILLWOOD, WASH. — Matthews Real Estate Investment Services has negotiated the sale of a retail property located at 8851 E. Trent Ave. in Millwood, a suburb of Spokane. An undisclosed buyer acquired the asset for $8.3 million in an off-market transaction. Situated on 3.7 acres within a major shopping center, the property features 46,798 square feet of retail space and was built in 1991. Albertsons currently occupies the property on a 20-year lease. Additional tenants at the shopping center …

Colliers Arranges Sale of 46,830 SF Industrial Building in San Diego for $6M

SAN DIEGO — Colliers International San Diego Region has brokered the sale of an industrial building, located at 7550 Panasonic Way in San Diego’s Otay Mesa neighborhood. Guy C Clum Trust sold the property to RMJF LLC for $6 million. Concurrent with the acquisition, the new owner was able to secure a long-term lease for the property. Mark Lewkowitz and Chris Holder of Colliers International represented the seller, while Craig Fitterer of Lee & Associates represented the buyer in the …

Marcus & Millichap Brokers Sale of 166-Unit Self-Storage Facility Near Boise

KUNA, IDAHO — Marcus & Millichap’s LeClaire Group has arranged the sale of Kuna Self Storage, a self-storage facility in Kuna, a suburb of Boise. Messmer Properties sold the asset to an undisclosed buyer. The acquisition price was not released. Kuna Self Storage features 166 non-climate-controlled units, 15 rentable outdoor parking spaces, a fully fenced storage area and an on-site manager’s office. Jordan Farrer of Marcus & Millichap’s Salt Lake City office and Adam …

Knapp Group Brokers $7.5M Sale of Two Seniors Housing Communities in Irwin, Pennsylvania

IRWIN, PA. — The Knapp Group, a division of Marcus & Millichap, has brokered the $7.5 million sale of two seniors housing properties in Irwin, located approximately 20 miles southeast of Pittsburgh. Combined, the communities comprise 95 units of independent living and assisted living. One of the properties was built in 1999 and the other in 1959. The names of the facilities were not disclosed. The seller was a physician within the community looking to retire from the seniors housing …

Voit Brokers $8.7M Sale of Southport Office Park in San Diego

SAN DIEGO — Voit Real Estate Services has arranged the sale of Southport Office Park, an eight-building office complex located in San Diego’s National City submarket. Dan Floit, a San Diego-based private investor, acquired the asset from San Diego-based H.G. Fenton Co. for $8.7 million. Totaling 33,894 square feet, the office park is located at 102, 132 and 202 Miles of Cars Way; 2403, 2435, 2425 and 2427 Hoover Ave.; and 2405 Transportation Ave. Michael Mossmer and Curt Perry of Voit …

BK National Solutions Sells 25,892 SF Gramercy Commons Retail Center in Las Vegas for $6.3M

LAS VEGAS — BK National Solutions LLC has completed the disposition of Gramercy Commons Retail Center, a multi-tenant retail building in Las Vegas. Manjinder Saini acquired the asset for $6.3 million. Located at 5752 S. Fort Apache Road, the property features 25,892 square feet of retail space. Roy Fritz, Cathy Jones, Paul Miachika, Taylor Vasquez and Dylan Heroy of Sun Commercial Real Estate represented the buyer, while Logic Commercial Real Estate represented the seller in the …

Newmark Knight Frank Brokers $23M Sale of Multifamily Property in Colorado Springs

COLORADO SPRINGS, COLO. — Newmark Knight Frank – Colorado has arranged the sale of Park Ridge, a multifamily property located in Colorado Springs. Park Ridge Apartment CS LLC sold the asset to Park Ridge SRP LLC for $23 million. Located at 2602 W. Serendipity Circle, the property features 204 apartments. Kevin McKenna and Saul Levy of Newmark Knight Frank – Colorado Multifamily handled the

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