ST. LOUIS — Marcus & Millichap has arranged the sale of a 62,856-square-foot medical office property located at 5500 S. Broadway St. in St. Louis for $6.3 million. The building was constructed in 2001 and previously operated as the Riverview Nursing Facility. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the undisclosed buyer, which plans to renovate and repurpose the building as a behavioral health center. The seller was a local husband-and-wife ownership group.
CHICAGO — SVN Chicago Commercial has brokered the $2.7 million sale of a 9,267-square-foot apartment and retail building in Chicago’s Ukrainian Village neighborhood. The fully rehabbed property at 1859 W. Chicago Ave. features six apartment units and one retail tenant, a veterinarian office on the ground floor. Drew Dillon and Scott Maesel of SVN Chicago Commercial represented both the buyer and seller.
TINLEY PARK, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 26,173-square-foot industrial building at 18531 Spring Creek Drive in the Chicago suburb of Tinley Park. The property was vacant at the time of acquisition. Situated in the North Creek Business Center, the building offers direct access to I-80 via Harlem Avenue. The property sits on 1.8 acres and features a clear height of 19 feet, two docks, two drive-in doors and parking for 56 vehicles. Venture One plans to make improvements such as office renovations, warehouse painting, parking lot resurfacing and the installation of energy-efficient lighting. Bruce McConnell of Savills represented the seller. Michael O’Leary, Dylan Maher and Ryan Earley of Lee & Associates have been retained to market the building for lease or sale. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
LEWISVILLE, TEXAS — California-based investment firm Bixby Capital Management has purchased a 241,104-square-foot industrial park in the northern Dallas suburb of Lewisville. Red River Business Park consists of three rear-load buildings with 28- to 32-foot clear heights that are situated on a 19.4-acre site at the intersection of I-35 and State Highway 121. Los Angeles-based PCCP financed the acquisition of the property in conjunction with Bixby’s purchase of a 222,382-square-foot warehouse near Nashville.
GRAND PRAIRIE, TEXAS — Global Real Estate Advisors (GREA) has arranged the sale of Cottonwood Park Village, a 175-unit apartment complex located in the central metroplex city of Grand Prairie. Built in the 1980s, the property offers a range of floor plans and amenities such as a pool, fitness center, outdoor grilling and dining stations and onsite laundry facilities. The buyer and seller were not disclosed. Cottonwood Park Village was 92 percent occupied at the time of sale.
LAREDO, TEXAS — Austin-based investment firm Buchanan Capital Partners has acquired an 86,310-square-foot warehouse in the South Texas city of Laredo. According to LoopNet Inc., the building at 172 Interamerica Blvd. was completed earlier this year and offers 29-foot clear heights, 26 dock doors, 52 trailer parking spaces and 3,000 square feet of office space. Buchanan acquired the property in partnership with Frontier Real Estate Partners. The seller and sales price were not disclosed.
HOUSTON — Colliers has negotiated the sale of a 66,500-square-foot industrial outdoor storage facility in northeast Houston. Built in 2008, the facility sits on approximately 15 acres at 9803 Sheldon Road and includes 10 acres of stabilized storage space, four grade-level doors, one dock-high door and 6,000 square feet of office space. Zack Taylor and Todd Moore of Colliers represented the seller in the transaction. Mike Taetz, also with Colliers, represented the buyer. Both parties requested anonymity.
ENGLEWOOD, COLO. — IRA Capital has acquired Reunion Inverness Physical Rehabilitation Hospital, a Class A inpatient rehabilitation facility (IRF) in Englewood, from a partnership between American Development & Investments, Brandon Holdings and Nobis Hospital Investments. Terms of the acquisition were not disclosed. Located at 372 Inverness Drive South, the three-story, 49,000-square-foot building is fully leased by Reunion Rehabilitation Hospitals on an absolute net lease structure with 22 years remaining. The purpose-built facility features 40 patient beds with scalability to 60 beds, two advanced therapy gyms, private patient rooms, outdoor courtyards, family gathering areas and a full-service café. John Witt and Ben Swanson of Quiver Investment, along with Chris Toci and Eric Wichterman of Cushman & Wakefield, represented the seller in the deal. Nobis Rehabilitation Partners, a third-party healthcare operator and manager, operates the Inverness facility.
CATHEDRAL CITY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $4.2 million sale of a newly constructed, single-tenant retail property located in Cathedral City, approximately seven miles southeast of Palm Springs. A 3,700-square-foot Circle K convenience store occupies the building, which is situated within Cathedral Cove Center on a 20-year triple-net-lease with 10 percent rent increases every five years. Circle K is scheduled to open in fall 2025. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Newport Beach, Calif.-based Fountainhead Development, in the transaction. Joe Ahearn of Pinnacle Estate Properties represented the 1031 exchange buyer, a Ventura, Calif.-based private investor.
TUCSON, ARIZ. — Kc4e LLC has purchased an industrial building located at 1501 E. 21st St. in Tucson from Kash Property Management for $1.8 million. Paul Hooker and Robert Glaser of Cushman & Wakefield | PICOR represented the seller in the transaction.
