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.
SYRACUSE, N.Y. — Illinois-based investment firm Inland Private Capital Corp. has sold a 124,980-square-foot industrial facility in Syracuse for $13.4 million. At the time of sale, the property was 100 percent leased to Niagara Mohawk Corp., an energy provider that also conducts business under the name National Grid. The company purchased the property in 2011 and sold it through a Delaware Statutory Trust (DST). The buyer was not disclosed.
PHOENIX — Los Angeles-based Pro Residential has completed the disposition of Cove on 44th, an apartment property located at 4030 44th Ave. in Phoenix. Tide Equities acquired the asset for $51 million. The buyer has rebranded the community to Tides on 44th. The 134,000-square-foot community features 10 studio and 246 one-bedroom apartments, ranging in size from 452 square feet to 598 square feet. Built in 1983, the two-story property offers two swimming pools, a spa, a clubhouse and multiple laundry facilities. Trevor Koskovich, Bill Hahn, Jesse Hudson and Ryan Boyle of Northmarq represented the seller in the transaction. Jeff Erxleben, Lauren Bresky, Kevin Leamy and Loren Heikenfeld of Northmarq’s Dallas Debt & Equity team secured $46.2 million in acquisition financing for the buyer.
REDDING, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Shasta Orthopedics Medical Office Building in Redding. Terms of the transaction were not released. Anthony Lunceford, Joe Massa and Michael Grenaway of IPA represented the undisclosed seller and buyer in the deal. Adam Christofferson served as Marcus & Millichap’s broker of record in California. The Shasta Orthopedics Medical Office Building features 41,191 square feet of space and is within a two-mile radius of Shasta Regional Medical Center, Mercy Medical Center Redding and Vibra Hospital of Northern California.
CHELMSFORD, MASS. — The Shearwater Cos., an investment firm based in southern New England, has acquired a 91,476-square-foot industrial building in Chelmsford, a northern suburb of Boston. The sales price was $14.8 million. The recently renovated building features a clear height of 27 feet and was fully leased to a subsidiary of medical device provider Teleflex Inc. at the time of sale. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines of CBRE represented the seller, The RAM Cos., in the transaction.
IRVING, TEXAS — NAI Robert Lynn has brokered the sale of two adjacent industrial buildings totaling approximately 400,000 square feet in Irving. According to LoopNet Inc., the property at 2205-2255 E. Pioneer Drive totals 271,406 square feet, and the building at 600 N. Wildwood Drive spans 133,205 square feet and was built in 1975. Chase Miller and Robert Blankinship of NAI Robert Lynn represented the undisclosed seller and procured the buyer, Dallas-based CanTex Capital, in the transaction.
BREA, CALIF. — Brixmor Property Group has acquired Brea Gateway Center, a grocery- and drug-store-anchored retail center located at 101-407 W. Imperial Highway in Brea. An institutional investor sold the asset for $85.7 million. Brea Gateway Center comprises of 13 parcels on 12.5 acres offering a total of 181,891 square feet of retail space. At the time of sale, the property was 97.9 percent occupied. Current tenants include Ralphs, HomeGoods, Cost Plus World Market, Mattress Firm, Taco Bell and Panda Express. Gleb Lvovich, Bryan Ley, Geoff Tranchina and Daniel Tyner of JLL Retail Capital Markets represented the seller in transaction.