Acquisitions

Centerpark-Denver-CO

DENVER — A joint venture between Westfield and Reinsurance Group of America has purchased Centerpark, a three-building industrial project in Denver, from an undisclosed seller for $73 million. Situated on more than 22 acres, the three buildings are located at 4900, 5000 and 5050 Osage St. At the time of sale, the 431,157-square-foot multi-tenant property was fully leased to 10 tenants. Centerpark features multiple points of ingress/egress, suitable tenant size flexibility with various storefronts, loading options (Buildings C and D are spine cross-dock), functional column spacing, ample parking, concrete truck aprons and ESFR sprinklers. Additionally, the property is located within a Denver Enterprise Zone. Will Strong, Jim Carpenter, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group brokered the transaction. Alec Rhodes, Aaron Valdez and Tyler Smith of Cushman & Wakefield provided leasing advisory for the buyers, which retained the team for future leasing of Centerpark.

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14011-S-Normandie-Ave-Gardena-CA

GARDENA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of an industrial property located at 14011 S. Normandie Ave. in Gardena. Classic Components acquired the vacant asset from California-based Marmon Properties for $10.7 million. Austin Borges and Alexander Harrold of Matthews handled the transaction. Classic Components, a leader in supply chain solutions, intends to use the 37,072-square-foot, single-tenant facility as its new corporate headquarters.

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IHOP-Lancaster-Palmdale-CA

LANCASTER AND PALMDALE, CALIF. — A private investor has acquired two retail locations in Los Angeles County for $3.4 million each, or $6.8 million combined. The properties are net-leased to IHOP. The restaurants are located at 1650 W. Ave. K in Lancaster and at 39176 10th St. W in Palmdale. The deal terms consisted of a new 23-year lease that commenced at the close of escrow, 1.5 percent annual increases and a 30-unit guarantee. Andre Thompson and Peter Deltondo of Marcus & Millichap represented the seller, a private investor, and secured the buyer in the deal.

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PLANO, TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 65-unit seniors housing facility in Plano. The unnamed property was built in the 1990s and offers assisted living and memory care services. The seller was a national development and investment firm, and the buyer was a regional seniors housing owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.

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1314-Maple-Sumner-WA.jpg

SUMNER, WASH. — Marcus & Millichap has brokered the sale of 1314 Maple, a multifamily property in Sumner. A limited liability company sold the asset to an undisclosed buyer for $3.6 million, or $495 per square foot. Located at 1314 Maple St., the building features 16 studio and urban one-bedroom units, averaging 458 square feet. The sellers completed a more than $1 million interior and exterior renovation to the property. Kellan Moll, Mitchell Loofburrow and Scott Morasch of Marcus & Millichap’s Seattle office represented the seller in the deal.

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DENVER — Malman Commercial Real Estate has arranged the sale of 131 Madison Street, an office building located in Denver’s Cherry Creek district. University of Colorado Health, a Colorado nonprofit corporation, acquired the asset from 131 Madison Investors, a Texas limited liability company, for $3.1 million. The property offers 6,156 square feet of office space. Jake Malman and Taylor Roy of Malman Commercial Real Estate represented the seller, while Kyle Underwood and Julie Burch of Legend Partners represented the buyer in the deal.

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MIAMI — JLL has arranged a $73.6 million acquisition loan for a four-property industrial portfolio. The assets are located in Fremont, Calif.; Houston; Gouldsboro, Pa.; and Tampa, Fla. Melissa Rose, Michael DiCosimo and Nicole Barba of JLL’s Miami office, along with JLL colleagues Colby Mueck (Houston), Michael Pagniucci (Philadelphia) and Taylor Gimian (San Francisco), arranged the financing on behalf of the borrower, a fund of Houston-based Hines. The four properties were fully leased to 10 tenants at the time of financing, including Coca-Cola, Tesla, Sysco, Costco and Americold.

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CARROLLTON, GA. — Stratus Property Group has purchased a 38,000-square-foot shopping center located at 415 Rome St. in downtown Carrollton, about 45 miles west of Atlanta. The acquisition included three acres of land. The seller and sales price were not disclosed. The center was built in 1980 and includes five tenant spaces, according to LoopNet Inc. Current tenants include long-time restaurants Shuckers Oyster House and Sutton’s American Grill. Stratus Property Group is working with the City of Carrollton to reimagine the center. In addition to the revamp of this retail center, Carrollton will soon house four breweries/distilleries and The Amp, a new public amphitheater.

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227-Centerville-Road-Warwick-Rhode-Island

WARWICK, R.I. — A joint venture between Boston-based Sendero Capital and alternative asset manager Angelo Gordon has purchased a 30,000-square-foot medical office building in Warwick, located just south of Providence. Neurology practice NeuroHealth serves as the building’s anchor tenant, occupying about 40 percent of the space, with the remainder fully leased to three different tenants. Mindy Berman, Anthony Sardo and Landon Weaver of JLL represented the joint venture in the transaction.

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KINGSTON, PA. — Colliers has arranged the sale of a 25,545-square-foot retail and healthcare building in Kingston, about 20 miles southwest of Scranton. The building was fully leased at the time of sale, with Vive Health & Fitness serving as the anchor tenant. Other users include Dental Specialists of NEPA and Shine Salon. Jeff Algatt and John Susanin of Colliers represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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