SALEM, ORE. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 190-unit seniors housing campus in Salem. The community features 94 independent living apartments, 22 cottages and 72 assisted living units. At the time it was put on the market, the property generated a 30 percent profit margin and was still 94 percent occupied despite the pandemic, according to Blueprint. The seller was an ownership group finalizing its exit from seniors housing. The buyer was a local owner-operator with two other communities within a mile of the property. The price was not disclosed.
LOS ANGELES — Western Studio Services has completed the disposition of its creative office and industrial campus at 4561 Colorado Blvd. in Los Angeles. A joint venture between Captiva Partners, Avalon Investment Co. and a private investor acquired the asset for an undisclosed price. The front 146,000-square-foot building has a mid-century modern design with two-story offices, ample warehouse space and a third-level upper deck and community room. The rear 43,000-square-foot facility features an open, clear-span footprint with high ceiling clearance. The seller formerly occupied the property. Matt Dierckman, David Harding, Greg Geraci and Billy Walk of CBRE represented the buyer and seller in the deal.
SAN DIEGO — Cushman & Wakefield has arranged the sale of Morena Storage, a self-storage facility located in central San Diego’s Morena District. Sherman Street Ventures, the original developer of the property, sold the asset to Invesco Real Estate, in partnership with Baranof Holdings, for an undisclosed price. The buyers plan to maintain the property’s name, Morena Storage. Located adjacent to interstates 5 and 8, the 108,700-square-foot Morena Storage features 1,640 self-storage units. At the time of sale, the property was 90 percent occupied. Greg Wells of Cushman & Wakefield’s Self Storage Advisory Group, along with Bryce Aberg, Zachary Harman and Brant Aberg of the firm’s Industrial/Capital Markets Group, represented the seller in the deal.
CHANDLER, ARIZ. — CBRE has negotiated the sale of an industrial building located at 6615 W. Boston St. in Chandler. Ivanhoe/Evergreen acquired the asset from Cabot Properties for $9.2 million. The 96,000-square-foot property features 4,405 square feet of office space, 22-foot clear heights, 11 dock-high doors, one grade-level door and up to 189 parking spaces. At the time of sale, Advanced Circuits and a second tenant fully occupied the property. Jackie Orcutt, John Grady and Jonathan Teeter of CBRE represented both parties in the transaction.
FALL RIVER, MASS. — Boston-based investment firm Rhino Capital Advisors has purchased a 200,000-square-foot data center located in the southern Massachusetts city of Fall River. Rhino Capital is acquiring the center in a sale-leaseback deal in which the seller has committed to a new 10-year lease at the newly built property. Brett Paulsrud and Madeline Joyce of JLL arranged a $10.3 million acquisition loan through Cambridge Savings Bank on behalf of the new ownership.
MELVILLE, N.Y. — CBRE has negotiated the $32 million sale of the leasehold interest in a 202,225-square-foot office building located on Long Island in the city of Melville. The property is currently 87 percent leased. Jeff Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Philip Heilpern of CBRE represented the seller and building owner, RXR Realty, in the transaction. The team also procured The Feil Organization as the buyer.
WEST SACRAMENTO, CALIF., AND SALT LAKE CITY — A joint venture between PCCP and The Koll Co. has purchased an eight-building industrial portfolio in West Sacramento and Salt Lake City. A private family trust sold the portfolio for $41.3 million. Totaling 510,7070 square feet, the assets were fully leased at the time of sale. The three California properties, totaling 226,000 square feet, are located within the Port of Sacramento Industrial Park. Built in 1987, the buildings feature 22- to 26-foot clear heights, dock-high doors, grade-level doors, wet sprinklers, reinforced concrete loading areas and ample parking. The remaining five properties, totaling 214,000 square feet, are located within Centennial Industrial Park in Salt Lake City. The buildings feature 24- to 27-foot clear heights, dock-high doors and grade-level doors. Bret Hardy and Kevin Shannon of Newmark Knight Frank represented the seller, while David Milestone of Newmark Knight Frank sourced acquisition debt from California Bank & Trust for the buyer.
CERRITOS, CALIF. — Nome Ventures, a Bay Area-based real estate investment firm, has acquired Cerritos Center Court, a Class A office building in Cerritos, for an undisclosed price. Located at 17777 Center Court Drive within the 125-acre master-planned Cerritos Central Business District, the eight-story building features 170,977 square feet of office space. At the time of sale, the property was 98 percent leased. Built in 2002, a 2018 renovation fully upgraded the lobbies, corridors, restrooms, electric vehicle charging stations and 680 parking spaces. The transaction is a leasehold sale as the building sits on a long-term ground lease owned by the City of Cerritos with more than 66 years remaining on the term. Todd Tydlaska, Sean Sullivan, Mike Longo, Anthony DeLorenzo and Mark Shaffer of CBRE represented the seller, an undisclosed institutional investor, while Nome Ventures was self-represented in the deal. Greg Grant of CBRE’s Debt & Structured Finance team secured a $26.7 million loan on behalf of the buyer.
THORNTON, COLO. — EverWest Real Estate Investors, in a joint venture with Invesco, has acquired a two-building speculative industrial project located at 14901 N. Washington St. in Thornton. RE II Industrial II sold the property, which fronts Interstate 25, for an undisclosed price. The acquisition includes an adjacent, pad-ready site where EverWest, serving as developer, plans to build a 121,000-square-foot Class A industrial building. The new facility will complement the existing 219,000 square feet of speculative industrial space at the site, which also includes 46.4 acres of undeveloped land. With the undeveloped land, EverWest has the option to build a second and third phase totaling an additional 590,000 square feet of new industrial space.
WEST VALLEY CITY, UTAH — The LeClaire Group of Marcus & Millichap has arranged the purchased of All American Storage in West Valley City. A regional real estate investor acquired the 8,800-square-foot self-storage facility for an undisclosed price. Built in 1997, the property features 45 drive-up, non-climate-controlled self-storage units and an on-site apartment. Units range in size from 100 square feet to 400 square feet, with the ability to reconfigure unit sizes to accommodate larger spaces. Additionally, the fully fenced and gated property features keypad access and 24-hour surveillance. Jordan Farrer of The LeClaire Group of Marcus & Millichap represented the buyer in the deal. The name of the seller was not released.