Acquisitions

2450-Rockwood-Ave-Calexico-CA

CALEXICO, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the absolute triple-net ground lease sale of a single-tenant retail property located at 2450 Rockwood Ave. in Calexico. A Vero Beach, Fla.-based private investor sold the asset to a Midwest-based buyer for $2.6 million. Aldi occupies the 18,000-square-foot property on a triple-net lease. The asset is situated on a 1.5-acre pad at the entrance to a Walmart Supercenter, which is the first Walmart location north of the Calexico/Mexico border crossing. Additional adjacent retailers include Jack in the Box, T-Mobile, 7-Eleven, Panda Express, KFC and Subway. Dylan Mallory and Jeff Lefko of Hanley Investment Group represented the seller, while the buyer was self-represented in the deal.

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ITASCA, ILL. — Marcus & Millichap has brokered the sale of a 15,700-square-foot industrial building in Itasca for $1.7 million. The property is located at 1437 Harmony Court. It was vacant at the time of sale. Tammy Saia and Tami Andrew of Marcus & Millichap marketed the property on behalf of the seller, a New York-based corporation. The undisclosed buyer plans to occupy the building.

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MERRILLVILLE, IND. — Jameson Commercial has arranged the $1.1 million sale of a roughly 7,000-square-foot retail building occupied by Advance Auto Parts in Merrillville in Northwest Indiana. The property sits on 1.3 acres at 5790 Broadway St. Rick Gardella and Michele Coleman of Jameson represented the undisclosed buyer. Tammy Saia and Tami Andrew of Marcus & Millichap marketed the property on behalf of the seller, a private investor.

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600-delran

DELRAN, MOUNT LAUREL AND SWEDESBORO, N.J. — A partnership between Pennsylvania-based developer Endurance Real Estate Group LLC and New York-based investor Pacific Coast Capital Partners LLC (PCCP) has acquired the Southern New Jersey Core Infill Portfolio for $43 million. The 553,548-square-foot industrial portfolio is located in the southeastern suburbs of metro Philadelphia, and includes seven properties located in Delran, Mount Laurel and Swedesboro. These assets were 88.7 percent leased at the time of sale to warehouse and distribution tenants such as Food Sciences Inc., Carnegie Pharmaceuticals LLC and The Jewelry Group Inc. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller, Foxfield Industrial, a joint venture of Novaya Real Estate Ventures and Foxfield Ventures, in the transaction.  

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141-south-west-hartford

WEST HARTFORD, N.J. — JLL has arranged the $11.2 million sale of a 111,507-square-foot industrial building in West Hartford. Located at 141 South St., the light industrial warehouse was completed in 1990 and features 22-foot clear heights, 16 loading docks, 10 drive-in doors and a 20 percent office finish. At the time of sale, the property was fully leased to nine tenants. Jordan Avanzato and Marc Duval led a JLL team that represented the seller, LM Real Estate Partners, in the transaction.  A private investor purchased the asset.

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HOUSTON — NewQuest Properties has arranged the sale of Chimney Rock Bellaire Shopping Center, a 23,217-square-foot retail center in southwest Houston. The property was developed in phases in 1990 and 2012 and was 99 percent leased at the time of sale to tenants such as The Mays School, Green Restaurant and Speedy Cash. Kelley Workman of NewQuest represented the seller, F6 Properties, in the transaction. Tony Luk of LYT Realty Inc. represented the buyer, JCV Capital Inc.

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HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of a 16,360-square-foot industrial building located at 2337 Minnis Drive in Haltom City, located northeast of downtown Fort Worth. Adam Abushagur and Cliff Zimmerman of Marcus & Millichap represented the seller, a private investor, and procured a limited liability company as the buyer. Both parties requested anonymity.

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ATLANTA — Stan Johnson Co. has arranged the $6.7 million sale of a 25,416-square-foot office building in the Kirkwood neighborhood of east Atlanta. The single-tenant building, located at 200 Arizona Ave. NE, serves as mobile and web app development company Big Nerd Ranch’s headquarters. The property was originally built in 1955 and was renovated in 2014. The building sits on two acres, four miles east of downtown Atlanta. A private California-based investor completing a 1031 exchange bought the property from a Dallas-based private investor. Mollie Alteri, Joey Odom, Mike Sladich and Maggie Holmes of Stan Johnson represented the seller in the transaction.

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13892-Del-Corso-Way-Broomfield-CO

BROOMFIELD, COLO. — CBRE has facilitated the $90.7 million sale of Caliber at Flatirons, an apartment property located at 13892 Del Corso Way in Broomfield. Greenwood, Indiana-based The Garrett Cos. sold the community to Oakmont Properties for $90.7 million. Dan Woodward, David Potarf and Matt Barnett of CBRE’s Denver office represented the seller, while Marc Ross and CBRE’s Sacramento multifamily team represented the buyer in the deal. Andrew Behrens of CBRE Capital Markets Debt & Structured Finance arranged financing for the transaction. Completed in 2019, Caliber at Flatirons offers 288 units in a mix of one-, two- and three-bedroom layouts. Situated on 16 acres, the property features 308,478 rentable square feet, a swimming pool, grilling locations, an outdoor fireplace with seating areas, a fitness center and yoga studio.

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EAST TROY, WIS. — Marcus & Millichap has arranged the $2.7 million sale of the Quality Inn & Suites in East Troy, about 35 miles southwest of Milwaukee. Built in 1999, the 51-room hotel is located at 2921 O’Leary Lane. The property spans 38,660 square feet. Ebrahim Valliani, John Yurich, Allan Miller and Chris Gomes of Marcus & Millichap’s Chicago Oak Brook office marketed the hotel on behalf of the seller, a private investor. The team also secured and represented the buyer, a private investor. Todd Lindblom assisted on the transaction as the broker of record in Marcus & Millichap’s Wisconsin office.

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