Acquisitions

INDIANAPOLIS — Colliers International has arranged the sale of two industrial facilities within Park 100 on the northwest side of Indianapolis. The sales price was undisclosed. Building 133, located at 5251 E. 81st St., is a 20,530-square-foot warehouse fully leased to Iron Mountain Information Management. Building 641, located at 6061 Guion Road, is an 87,064-square-foot property fully leased to Mauser Packaging Solutions. Alex Cantu and Alex Davenport of Colliers represented the seller, Shear Property Group. Thomas Wiley of Reliant Partners represented the buyer, California-based Tower Investments LLC. Park 100 is a 19 million-square-foot industrial park.

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KOKOMO, IND. — Stan Johnson Co. has brokered the $2.7 million sale of a 10,000-square-foot healthcare facility leased to Advanced Medical Imaging in Kokomo in central Indiana. The single-tenant property is located at 2008 W. Boulevard St. Constructed in 2003, the Class B building sits on 1.4 acres near two hospitals. Rachel Walz of Stan Johnson represented the buyer, a Chicago-based private investor. Advanced Nuclear Medicine LLC was the seller.

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BROOKLYN, N.Y. — GFI Realty Services LLC has brokered the $7.2 million sale of a four-story, 30-unit multifamily building in the Bath Beach neighborhood of Brooklyn. The 30,960-square-foot building is located at 8678 Bay Parkway and was constructed in 1915. The building is also situated near Bensonhurst Park and offers convenient access to the Bay Parkway transit station. Shlomo Antebi of GFI Realty represented the buyer, the Ragosta family, in the transaction. Erik Yankelovich, also of GFI Realty, represented the seller, Meridian Properties.

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PROSPER, TEXAS — Marcus & Millichap has arranged the sale of North Preston Village, a 14,240-square-foot retail strip center in Prosper, about 35 miles north of Dallas. The property was built on two acres in 2018 and houses tenants such as Orangetheory Fitness and restaurant The Brass Tap. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a partnership, in the transaction. The buyer was a locally based 1031 exchange investor.

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FONTANA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly constructed, multi-tenant retail building, located at 16914 S. Highland Ave. in Fontana. Adler Realty, a Woodland Hills, Calif.-based developer, sold the asset to a Sun Valley, Calif.-based private investor for $4.9 million. The 7,500-square-foot property consists of three tenants: a Pacific Dental Services-branded dental office, Arrowhead Credit Union and MJ Nail & Spa. The building is located adjacent to Highland Village Shopping Center, a 30,000-square-foot retail center that was completed in 2019. Tenants at Highland Village include Sprouts Farmers Market, Jack in the Box, Raising Cane’s Chicken Fingers, Jersey Mike’s Subs, Café Rio, Oggi’s Restaurant and Mountain View Tire & Auto Service. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Matt Burnett, also of Hanley Investment Group, represented the buyer in the deal.

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ENGLEWOOD, COLO. — Campus Apartments has completed the sale of Nicole Apartments, a multifamily property in Englewood. 3444 Marion LLC acquired the asset for $2.7 million. Built in 1970, Nicole Apartments consists of a three-story, walk-up building featuring 16 one-bedroom/one-bath units and four two-bedroom/two-bath units. On-site amenities include laundry facilities and off-street parking. Matthew Beverly, Boomer Beatty and Peter Standley of Marcus & Millichap’s Denver office represented the seller and buyer in the deal.

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HOPEWELL, N.J. — A partnership between full-service real estate firm Lincoln Equities Group and New York City-based H.I.G. Realty Partners has acquired Princeton West Innovation Campus, a 1.2 million-square-foot life sciences property in Hopewell, New Jersey. The 433-acre development, which is located about seven miles from Princeton University, is the former campus of Bristol Myers Squibb (BMS). The New York City-based biopharmaceutical firm announced in late 2016 that it would gradually begin ceasing operations and shutting down the campus, according to centraljersey.com. The sales price was not disclosed, but the property flyer notes that BMS had invested more than $500 million in capital improvements to the campus prior to the sale. “Given the current public health crisis, we anticipate pharmaceutical and life sciences manufacturers to consider ‘reshoring’ and expanding operations in the United States,” says Joel Bergstein, president of Lincoln Equities. “This spacious, modern BMS campus — located in the center of ‘Einstein’s Alley’ in Central New Jersey — is a prime location for continued innovation and expansion.” Lance Bergstein, an acquisition and development officer at Lincoln Equities, pointed to the region’s skilled and qualified workforce as another key driving factor behind the acquisition. “New Jersey has one of the …

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MARLBOROUGH, MASS. — Newmark Knight Frank (NKF) has brokered the $66 million sale of The Campus at Marlborough, a 531,916-square-foot office campus in Marlborough, about 30 miles west of Boston. Situated on 121 acres at 100 Campus Drive, the complex features four interconnected buildings, including three office buildings and one amenity building. Amenities include a full-service cafeteria, Starbucks coffee shop, fitness center, 300-person auditorium, conference facilities, outdoor seating areas, walking trails and basketball and volleyball courts. At the time of sale, the property was 76 percent leased to a five-tenant roster anchored by the global headquarters of medical technology company Hologic. Robert Griffin, Edward Maher and Matthew Pullen led an NKF team that represented the seller, Houston-based Hines, in the transaction. Greatland Realty Partners was the buyer. Lauren O’Neil, Andrew Gray and Henry Schaffer of JLL arranged acquisition financing through Brookline Bank on behalf of Greatland Realty.

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SPRINGFIELD, PA. — Tryko Partners has acquired Harlee Manor and Springfield Commons, a two-building seniors housing campus totaling 173-units in Springfield, a western suburb of Philadelphia. Located on more than six acres at 463 West Sproul Road, the property will be renamed Springfield Enhanced Senior Living. Tryko will invest $2.5 million in renovations and specialty care programming enhancements. The skilled nursing and personal care components will be known as Springfield Rehabilitation & Healthcare Center and Springfield Crossings, respectively. The campus offers convenient access to Springfield Hospital, Delaware County Memorial Hospital, Taylor Hospital and Crozer-Chester Medical Center. M&T Bank provided acquisition financing. The seller was undisclosed.

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NEW YORK CITY — Ariel Property Advisors has arranged the $2.1 million sale of a 14,737-square-foot multifamily development site on Staten Island. The property is located at 27-31 Wave St. in the Stapleton neighborhood. The buyer, BFC Partners, plans to merge the site with an adjacent 53,422-square-foot lot at 475 Bay St. to construct a mixed-income apartment building. The property offers 167.5 feet of frontage on Wave Street near the Stapleton Waterfront and the Stapleton Staten Island Railway Station. Sean Kelly, Michael Tortorici and John Higgins of Ariel represented BFC Partners in the transaction. The name and representative of the seller were not disclosed.

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