EASLEY, S.C. — Alice Manufacturing Co. Inc., a textile company, has sold Arial Mill, a 343,686-square-foot distribution center in Easley, about 12.6 miles west of Greenville. Farpoint Acquisitions LLC purchased the property for $2.6 million. Nick Hollstegge and Katherine Southard of CBRE represented the seller in the transaction. Located on 19.2 acres at 212 Rice Road, Arial Mill is situated within an Opportunity Zone on the Highway 8 corridor. The property is also within five miles of Pickens County Commerce Park and Pickens County Airport, and within 20 miles of downtown Greenville and Clemson University. Originally built as a textile mill in 1924, Arial Mill most recently served as a distribution center for textile products.
MCKINNEY, TEXAS — New York City-based investment firm Thor Equities Group has sold a 129,914-square-foot industrial property located at 3601 N. McDonald St. in the northern Dallas suburb of McKinney for $20 million. Thor Equities acquired the building, which features a rear-load configuration, 130-foot truck court apron and an ESFR sprinkler system, in August 2021 via a joint venture with Morgan Stanley. Stream Realty Partners represented the joint venture in the deal. The buyer was not disclosed. Building B at the property totals 301,796 square feet.
COON RAPIDS, MINN. — Hanley Investment Group Real Estate Advisors has arranged the $11.4 million sale of Riverdale Village in the Minneapolis suburb of Coon Rapids. Constructed in 2021, the property consists of a 4,150-square-foot building with a drive-thru occupied by Bank of America and a two-tenant, 6,700-square-foot building occupied by Famous Dave’s and Banfield Hospital. The asset serves as an outparcel to Menards. Jeff Lefko and Bill Asher of Hanley, along with Robert Wise of CBRE, represented the seller, Florida-based OneCorp Global. Boston Weir of Henry Group Real Estate represented the buyer, a Colorado-based private investor completing a 1031 exchange.
ST. LOUIS — Marcus & Millichap has negotiated the sale of a Life Storage self-storage facility in St. Louis for an undisclosed price. The 71,015-square-foot property is located at 4935 Fyler Ave. The facility initially opened in December 2019 with 426 climate-controlled units. In July 2021, the property was expanded to include an additional 172 non-climate-controlled units and 137 parking spaces. Sean Delaney of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a Texas-based limited liability company.
ANDERSON, IND. — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,418-square-foot property occupied by Walgreens in Anderson, about 40 miles northeast of Indianapolis. The sales price was undisclosed. Constructed in 2004, the building is located at 320 S. Scatterfield Road. At the time of sale, Walgreens had roughly eight years remaining on its 25-year lease term. Dan Waszak of Quantum represented the buyer, a New York City-based 1031 investor. The seller was also based in New York.
RICHARDSON, TEXAS — Dallas-based Restaurant Properties Group has negotiated the sale of Atrium at North Creek, an 85,000-square-foot office building located at 2929 N. Central Expressway in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the property was built in 1983 and renovated in 2001. Andy Anderson of Restaurant Properties Group represented the buyer, a limited liability company, in the transaction. Tom Strohbehn of Younger Partners represented the seller, a limited partnership.
IRVING, TEXAS — Locally based brokerage firm Structure Commercial has arranged the sale of Imperial Square, a 68,492-square-foot retail center in Irving. At the time of sale, the center was fully leased to a tenant roster that includes FedEx-Kinkos. Allegiance Staffing and Mint Mobile. Eric Deuillet and Jake Burns of Structure Commercial represented the seller in the transaction. Greg Nelson and Brent Bosworth of Paladin Partners represented the buyer, Global Unique Logistics Corp.
BRIDGEWATER, N.J. — CBRE has negotiated the $260.6 million sale of a 675,000-square-foot office complex in the Northern New Jersey community of Bridgewater. The property houses the North American headquarters of French pharmaceutical giant Sanofi, which has committed to the building through 2032. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer, Zach McHale and Michael Monahan of CBRE represented the seller, American Finance Trust, in the transaction. The team also procured the buyer, California-based AVG Partners.
PORTLAND, CONN. — Marcus & Millichap has brokered the sale of Stor U Self Storage, a 651-unit facility in Portland, located in Middlesex County in the central part of the state. The facility comprises 68,774 net rentable square feet across 528 climate-controlled units, 122 non-climate-controlled units and one commercial space. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Susan Bands of Marcus & Millichap assisted in closing the deal as the broker of record.
LONG BEACH, CALIF. — Gelt has purchased Volta on Pine, a multifamily community in downtown Long Beach, from a joint venture between Holland Partner Group and North America Sekisui House for $156 million. Located at 635 Pine Ave., Volta on Pine features 93 studios, 94 one-bedroom units, 66 two-bedroom units and 18 three-bedroom units with an average size of 849 square feet. Eleven of the units are designated as affordable housing. Apartments feature quartz countertops, stainless steel appliances, wood-style flooring, full-size washers/dryers, Nest thermostats and modern cabinetry. Community amenities include a rooftop terrace with barbecue grills; executive conference and meeting rooms; a courtyard with fire pit; resort-style pool and sundeck with spa; outdoor grilling areas with smart TVs; a fitness center; parcel lockers; bike storage; and a fully equipped catering kitchen. Blake Rogers, Hunter Combs, Alexandria Caniglia and Javier Rivera of Walker & Dunlop represented the seller, while Gelt was self-represented in the deal.