CHELMSFORD, MASS. — New Hampshire-based investment firm Brady Sullivan Properties has sold 199 and 201 Riverneck Road, a 185,227-square-foot office complex in Chelmsford, located north of Boston. The sales price was $15 million. The two buildings are situated on a combined 15 acres and formerly served as the headquarters of defense and aerospace contractor Mercury Systems. Boston-based investment firm The Davis Cos. purchased the property for an undisclosed price.
MESA, ARIZ. — CBRE has arranged the sale of The Mesa Tower, a 16-story office building located at 1201 S. Alma School Road in Mesa. Dallas-based CAMCO Investment Group acquired the asset from Barker Pacific Group and Iron Point Partners for $39.5 million. Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller in the deal. Totaling 311,949 square feet, The Mesa Tower comprises the high-rise, Class A office building; an adjacent single-tenant restaurant; and a five-level, above-grade parking structure. The property was originally built in 1986 and most recently renovated in 2018 and 2019. Renovations include enhancements to the lobby, common areas, restrooms and interior building systems, as well as the addition of several speculative suites. At the time of sale, the property was 85 percent leased to a diverse tenant mix.
HENDERSON, NEV., AND AURORA, ILL. — PGIM Real Estate, on behalf of its U.S. core-plus debt fund, has provided a $41 million loan facility to Dalfen Industrial for the acquisition of a Class A industrial portfolio in the Las Vegas and Chicago metro areas. Totaling 438,000 square feet, the portfolio includes AirParc South and Suncrest Commerce Center in Henderson, plus Butterfield Logistics Center in Aurora. The loan features a three-year term with two one-year extension options. Trevor Arnholt of PGIM Real Estate originated the loan on the firm’s behalf.
HELENA, MONT. — Stan Johnson Co. has arranged the sale of an industrial property located at 876 Blaine St. in Helena. A Laguna Beach, Calif.-based private investor sold the asset to a Jacksonville, Ore.-based private investor for $4.1 million. FedEx Ground occupies the 22,251-square-foot building, which was constructed as a build-to-suit for the company in 2014. Additionally, the asset is situated on 6.3 acres adjacent to the Helena Regional Airport and Interstate 15. FedEx has approximately three years remaining on its lease. Colin Couch of Stan Johnson Co.’s Atlanta office represented the seller in the transaction.
ANTIOCH, CALIF. — Capital Rivers Commercial has arranged the sale of a retail asset located at 111 E. 18th St. in Antioch. San Jose-based DLP Investments sold the property to Antioch-based Antioch Partners for $3.1 million. Situated on 2.5 acres, the asset is a 33,000-square-foot, second-generation grocery store. Capital Rivers Commercial represented the buyer and seller in the deal.
RICHMOND, VA. — JLL Capital Markets has arranged the sale of Riverside on the James, a 263,752-square-foot, Class A office property in Richmond’s central business district. The 14-story property is located at 1001 Haxall Ave. and features views of the James River, an attached six-level parking deck and an onsite fitness center. Chris Lingerfelt, Ryan Clutter and Stephen Conley of JLL represented the seller, Washington, D.C.-based American Real Estate Partners LLC. JLL also procured the buyer, Opal Holdings, which is based in New York City. The sales price was not disclosed. Riverside on the James was 95.3 percent leased at the time of sale. Some of the current tenants were also the original tenants of the building, which was built in 2005.
MEDLEY, FLA. — CBRE has executed the sale of Medley Light Industrial, a 154,479-square-foot warehouse located at 14001 NW 112th Ave. in Medley. TA Realty, a Boston-based institutional investor, purchased the facility, which was 24 percent leased at the time of sale. Christian Lee, Chris Riley and José Lobón of CBRE represented the seller, a joint venture between EverWest Real Estate Investors and TRX Investments, in the transaction. The sales price was not disclosed. Medley Light Industrial features 32-foot clear heights, a rear loading configuration with dock-high doors, 120-foot truck court depths, ESFR sprinklers and 8 percent overall office finish. Amy Julian, Royce Rose, Devin White and David Albert of CBRE assisted in the transaction.
HUNTSVILLE, TEXAS — Marcus & Millichap has brokered the sale of A Space Place Self Storage, a 320-unit self-storage facility in Huntsville, about 70 miles north of Houston. The property spans 50,940 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller and the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
BLOOMFIELD HILLS, MICH. — L. Mason Capitani CORFAC International has brokered the sale of Stoneridge II, an office building located at 40950 Woodward Ave. in Bloomfield Hills. The sales price and seller were undisclosed. The 110,000-square-foot property was recently renovated and was fully leased at the time of sale. Mason L. Capitani of the brokerage firm represented the buyer, LREH Michigan LLC.
BLACKSBURG, VA. — Graystone Fund I (GFI) has acquired a 456-bed, 140-unit portfolio of student housing near the Virginia Tech University campus in Blacksburg for $33.8 million. The properties were previously owned and managed by BCR Property Management. GFI plans to make improvements and repairs to the acquired portfolio, aiming to increase the overall quality and marketability of the product. Further details on the acquisition were not disclosed. Graystone Cos. also plans to construct an approved 204-bed student housing community at the corner of Toms Creek Road in Blacksburg, furthering its footprint in the Virginia Tech market.