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.
CINCINNATI — Lightstone has acquired Harrison Distribution Center in Cincinnati for $25 million. The 580,000-square-foot distribution facility is leased to a distributor of food service supplies and merchandise. It features a clear height of 32 feet, 40 dock doors, ample parking and immediate highway access. Peter Rotchford of JLL arranged acquisition financing on behalf of Lightstone. Patrick Gallagher of CBRE represented the undisclosed seller. Lightstone owns more than 5 million square feet of industrial and retail properties nationwide.
CHASKA, MINN. — Hanley Investment Group Real Estate Advisors has arranged the $3 million sale of a 23,201-square-foot property occupied by Aldi in Chaska, a southwest suburb of Minneapolis. The single-tenant building is located at 110 Hazeltine Blvd., adjacent to the Hazeltine National Golf Club. Jeff Lefko and Bill Asher of Hanley represented the seller and developer, TOLD Development Co. A Santa Barbara, Calif.-based private investor purchased the asset.
LAREDO, TEXAS — Berkadia has arranged the sale of Lago del Mar, a 260-unit multifamily community located in the South Texas city of Laredo. Built in the early 2000s, the property offers one-, two- and three-bedroom units that average 776 square feet and feature walk-in closets, private patios and balconies and individual washers and dryers. Amenities include a pool, fitness center, dog park and a playground. Ryan Epstein, Mike Miller, Will Caruth and Cody Courtney of Berkadia represented the Chicago-based seller in the transaction. Cutt Ableson of Berkadia originated an undisclosed amount of Fannie Mae acquisition financing for the buyer, Haley Real Estate Group.
AUSTIN, TEXAS — Locally based investment firm Rastegar Property Co. has acquired The Edge at SoCo, a 35-unit apartment building located in the Buckingham Ridge neighborhood of South Austin. The property features one- and two-bedroom units and was 94 percent occupied at the time of sale. Rastegar will implement a value-add program that will deliver upgraded floors, cabinets and countertops to unit interiors, as well as improvements to the property exteriors and landscaping. The seller was not disclosed.
WEST PALM BEACH, FLA. — Dalfen Industrial has acquired a 204,900-square-foot industrial building fully leased to Serta Simmons in West Palm Beach. The mattress company has been the sole tenant at the property since it was commissioned in 1996. The asset is situated 3774 Interstate Park Road N., seven miles northwest of downtown West Palm Beach and one mile from Interstate 95. The property features a 2.2-acre truck parking lot and is fully fenced with a guard house at the entrance. The seller and sales price were not disclosed.
RANDOLPH, N.J. — NAI James Hanson has arranged the sale of an 18,729-square-foot industrial building located at 246 S. Salem St. in Randolph, about 40 miles west of New York City. According to LoopNet Inc., the property was built on 3.4 acres in 1952. Jonathan Kristofich and John Schilp of NAI James Hanson represented the seller, a private estate, and procured the buyer, Salem Enterprises LLC.
HOFFMAN ESTATES, ILL. — The 295-room Marriott Chicago Northwest hotel has sold for an undisclosed price. Situated in the northwest Chicago suburb of Hoffman Estates, the hotel opened in 2002. It features nearly 13,000 square feet of flexible meeting and event space. Hoffman Estates Hotel Group LLC, led by Harry and Alex Ghoman of Indianapolis-based The Ghoman Group, acquired the property. Ghoman plans to embark on capital improvements, such as renovating the guest rooms and lobby. John Karver and Eric Belfrage of CBRE Hotels represented the undisclosed seller. Rushi Shah and Prabhat Jayara of Mag Mile Capital arranged a bridge loan for the acquisition on behalf of Ghoman.
CHICAGO — SVN | Chicago Commercial has brokered the sale of a redevelopment site in Chicago’s Humboldt Park neighborhood for $8.2 million. The multi-building property sits on 6.5 acres at 1334, 1330 and 1030 N. Kostner Ave. The buyer, 1334 Kostner Owner LLC, is a subsidiary of IBT Group LLC. IBT plans to undertake an extensive office redevelopment project at the site. Jennifer Hopkins and Olivia Czyzynski of SVN represented the buyer. John McDermott of SVN represented the undisclosed seller along with outside broker Amy Van Hook.
LA VERNE, CALIF. — Berkadia has has arranged $8 million preferred equity investment for Silver Star Real Estate’s purchase of Amber Ridge Apartments, a garden-style multifamily property located in La Verne, 30 miles east of Los Angeles. Orange County, Calif.-based Silver Star Real Estate acquired the property through its affiliated purchasing entity, Amber Property Investments, for $49.7 million, or $338,000 per unit. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia’s Joint Venture Equity and Structured Capital Group delivered Harbor Group International as the preferred equity partner. Built in 1973 and renovated in 2006, Amber Ridge features 147 units spread across 25 two-story residential buildings. On-site amenities include a swimming pool with spa; clubhouse with full kitchen and fireplace; business center; outdoor picnic area with barbecue; pet grooming salon; and fitness center.