RICHMOND, TEXAS — Texas-based HPI Real Estate has acquired a 745-unit self-storage facility at 10535 Mason Road in Richmond, a southwestern suburb of Houston. Extra Space Storage manages and operates the facility, which spans 93,630 net rentable square feet and was more then 95 percent occupied at the time of sale. The seller and sales price were not disclosed. HPI acquired the asset in conjunction with another Extra Space Storage facility in Naples, Fla.
HOUSTON — Colliers International has brokered the sale of a 112,867-square-foot office building located at 1220 Augusta Drive in the San Felipe/Voss submarket of West Houston. Christopher Winters and Jay Kyle of Colliers represented the undisclosed seller in the transaction. The buyer is a locally based investment firm doing business as 1220 Augusta LLC.
CAROL STREAM, ILL. — Golub & Co. and Petiole Asset Management have acquired Lakehaven Apartments in Carol Stream, a western suburb of Chicago. The purchase price was undisclosed. Built in 1984, the 492-unit apartment community consists of 41 buildings. Units range in size from 700 to 1,100 square feet. Amenities include a clubhouse, pool, fitness center and dog park. Adam Short, Ania Najder and Kristin Nason of Golub & Co. and Chris Lord of Petiole led the acquisition. Marty O’Connell, Danny Kaufman, Wick Kirby and Kevin Girard of JLL represented the seller, Lakehaven Apartments LLC.
GRAFTON, WIS. — Yamato Corp., a provider of automatic, commercial and industrial weighing solutions, has purchased a 96,500-square-foot industrial property located at 1272 Dakota Drive in Grafton, about 20 miles north of Milwaukee. The purchase price was undisclosed. Yamato is relocating from a 35,347-square-foot space at 6303 Eastwood Court in Mequon, Wis. Mitchell Starczynski and Curt Pitzen of Newmark represented Yamato in the transaction. Rexnord Industries LLC was the seller.
HARTFORD, WIS. — Blue West Capital has arranged the sale of Hartford Centre for $4.9 million. The Aldi-anchored shopping center is located at 1591 E. Summer St. in Hartford, about 37 miles northwest of downtown Milwaukee. Other tenants at the 34,577-square-foot property include Dunkin’, H&R Block, Shopko Optical and Papa Murphy’s. Carly Gallagher Kelly of Blue West Capital represented the seller, Green Bay-based Midwest Expansion LLC. She also procured the buyer, a Dallas-based commercial real estate company.
FOUNTAIN VALLEY, CALIF. — Faris Lee Investments has brokered the sale of a five-acre mixed-use redevelopment site known as Brookhurst & Warner in Fountain Valley, in the heart of Orange County. An undisclosed buyer acquired the site for $17.5 million. Rick Chichester, Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the undisclosed seller in the deal.
TUCSON, ARIZ. — An affiliate of Los Angeles-based Portal Investment Management has purchased Rolling Hills Square, a grocery-anchored shopping center located in Tucson. Cincinnati-based Phillips Edison & Co. sold the property for an undisclosed price. Situated on 12.3 acres at the southwest corner of Kolb and Golf Links roads, Rolling Hills Square features 114,102 square feet of retail space. At the time of sale, the property was 96.2 percent occupied with Fry’s Food & Drug as the anchor tenant. Michael Hackett and Run Schubert of Cushman & Wakefield in Phoenix represented the seller and worked with the buyer to obtain acquisition financing for the asset.
EL CENTRO, CALIF. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired El Centro Post-Acute Center, a 123-bed skilled nursing facility located adjacent to the El Centro Regional Medical Center. El Centro is located in Imperial County near the border with Mexico. The facility has been added to CareTrust’s existing master lease with San Diego-based Bayshire Senior Communities, which sourced the off-market transaction and turned to CareTrust to finance and close the deal. Terms of the transaction were not disclosed. Scott Kirby, Bayshire’s CEO, found the El Centro opportunity after the facility had fallen out of contract with a previous buyer. “The seller had aggressive timing expectations after suffering through significant turnover within their management team, a recent COVID outbreak, the general fatigue of operating the facility for 20 years and a sale transaction that went south,” says Kirby. Dave Sedgwick, CareTrust’s president and chief operating officer, notes that Imperial County appears to be significantly under-bedded, with only 250 skilled nursing beds to absorb the 9,500 annual discharges from its two hospitals and over 25 percent of local Medicare referrals being sent more than an hour away to Yuma and San Diego. Care Trust has committed $150,000 for initial capital improvements to …
BETHEL, PA. — Dallas-based Dalfen Industrial has acquired 149 acres in Bethel, located in the Lehigh Valley region, for the development of Central Logistics Park, an industrial facility that will total approximately 1.2 million square feet. Dalfen plans to develop three buildings on the site, which is located just off Interstate 78. Construction is scheduled to be complete in the first quarter of 2023.
BRODHEADSVILLE, PA. — Marcus & Millichap has arranged the sale of Brodheadsville Self Storage, a 269-unit facility located on a 4.4-acre site about 30 miles north of Allentown. Built in 2003, the facility spans 38,550 net rentable square feet of non-climate-controlled space and includes 24 rentable parking spaces. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, and procured the undisclosed buyer in the transaction. Sean Beuche of Marcus & Millichap assisted in closing the deal as the broker of record.
