PINEHURST, TEXAS — Marcus & Millichap has arranged the sale of United Storage, a 94-unit self-storage facility in Pinehurst, located about 50 miles northwest of Houston. The property spans 20,960 square feet. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a private investor, in the transaction. An undisclosed buyer, also a private investor, purchased the asset.
CHICAGO — Chicago-based private equity firm RDG Funds LLC has acquired 13Thirteen Randolph Street Lofts in Chicago’s West Loop neighborhood for $40.1 million. The Class A multifamily asset includes four retail tenants and 74 apartment units. The property comprises two historic buildings, originally constructed in 1892 and 1927. Both buildings were renovated and transformed into residences in 2013. Shared amenities include a rooftop deck, resident lounge, media center, theater room and fitness center. RDG has retained Greystar to assist with its business plan for the property. Todd Stofflet and Jason Stevens of Cushman & Wakefield represented the seller, JP Morgan Asset Management. Monthly rents start around $1,600.
CHICAGO — Colliers International has brokered the sale of Jackson Throop Place in Chicago’s West Loop neighborhood for an undisclosed price. The 93-unit luxury apartment building is located on West Jackson Boulevard. Built in 2016, the property includes 18 one-bedroom units, 72 two-bedroom units and three three-bedroom units. The apartments feature hardwood floors, quartz countertops and stainless-steel appliances. Tyler Hague and Lauren Stoliar of Colliers represented the buyer, Newcastle Limited. Michigan Avenue Real Estate Partners was the seller.
RANCHO CUCAMONGA, CALIF. — Bridge Development Partners has acquired Fourth Street Distribution Center, a 1.4 million-square-foot distribution/fulfillment center and a 23,240-square-foot retail building in Rancho Cucamonga. West Coast Liquidators sold the asset for $191.1 million. Originally developed in 1984, the asset is situated on 91.4 acres at 12434 Fourth St. in the Inland Empire West submarket. Mark Detmer, Bo Mills, Ryan Sitov, Sharon Wortmann, Mike McCrary and Peter McWilliams of JLL represented the seller in the deal. Additionally, Brian Torp, Kevin MacKenzie and Brian Halpern of JLL Capital Markets arranged $200 million in bridge financing to fund the acquisition for the buyer.
AURORA AND COMMERCE CITY, COLO. — CBRE has arranged the sale of the Denver Distribution Portfolio, a three-building industrial portfolio located in Denver’s Airport submarket. A confidential investment firm sold the asset to Bethesda, Md.-based ASB Investment Management for an undisclosed price. The portfolio includes a 406,959-square-foot facility at 22100 E. 26th Ave. in Aurora, an 85,604-square-foot building at 18300 E. 28th Ave. in Aurora and a 140,630-square-foot property at 9410 Heinz Way in Commerce City. The 633,193-square-foot portfolio is fully leased to Subaru of America, Old West Mattress Co. and a national retailer. Constructed between 2000 and 2007, the three buildings feature dock-high and drive-in loading, ESFR sprinklers and 28-foot to 32-foot clear heights. Additionally the portfolio includes trailer parking, outdoor storage, covered loading and BNSF rail service. Jim Bolt, Tyler Carner and Jeremy Ballenger of CBRE represented the seller in the transaction.
ORANGE, CALIF. — Newmark Knight Frank (NKF) has arranged the sale of a single-tenant retail property located at 1809 W. Chapman Ave. in Orange. A Southern California-based family trust acquired the property from Orange County, Calif.-based Adray Plaza for $8.8 million in a 1031 exchange. Fresenius Medical Care, a dialysis clinic, occupies the 21,000-square-foot property on an absolute, triple-net lease basis. Glenn Rudy and Rob Ippolito of NKF represented the seller, while Matthew Graham of Graham & Associates represented the buyer in the deal.
LONG BEACH, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of high-street, multi-tenant retail property located at 5354 E. Second St. in Long Beach’s Belmont Shore neighborhood. A Jackson, Wyo.-based private investor sold the asset to a Long Beach-based private investor for $5 million. Built in 1952, the two-story building features 8,991 square feet of retail space. At the time of sale, the property was 100 percent leased. Current tenants include Arthritis National Research Foundation, Jonnum Media, The Flynn Group and FEA Consulting. Kevin Fryman, Carlos Lopez and Ed Hanley of Hanley Investment Group represented the seller, while Nathan Holthouser of CBRE’s Newport Beach, Calif., represented the buyer in the transaction.
ATLANTA — Berkadia has negotiated two sales of four multifamily properties in metro Atlanta totaling $80 million. In the first sale, Matt White, Paul Vetter, Andrew Mays and Judy MacManus of Berkadia arranged the combined $36 million sales of Pines at Greenbriar and Mountain Oaks on behalf of the seller, a joint venture between Adams Investor and Crown Bay Group. Pines at Greenbriar sold to Olive Tree Holdings and Mountain Oaks sold to Highland Properties Group. Pines at Greenbriar is located at 2909 Campbellton Road in southwest Atlanta. The 376-unit property offers one-, two- and three-bedroom floor plans. Communal amenities include a dog park, playground and an onsite laundry facility. The buyer has plans to renovate an unspecified number of units. Mountain Oaks is located at 4719 Central Drive in Stone Mountain, 14 miles east of downtown Atlanta. The community offers one-, two- and three-bedroom floor plans along with community amenities such as a barbeque area, pool and a newly renovated clubhouse. In the second deal, the same Berkadia team brokered the $44 million sale of Sedgefield Apartments and Castlebrook Apartments, two garden-style properties in Marietta. Berkadia represented the seller, Princeton Enterprises LLC. The Waldon Group acquired both properties. Sedgefield …
HYATTSVILLE, MD. — JLL has arranged the $58.9 million sale of Palette at Arts District, a 243-unit multifamily community in Hyattsville’s Arts District. The property offers studio, one- and two-bedroom floor plans averaging 870 square feet. The community also offers 4,700 square feet of ground-level retail space as well as communal amenities such as a pool, courtyard, grilling area, dog park, clubroom with pool table, cybercafé, coffee bar, fitness center and a conference room. Palette at Arts District is located at 5501 45th Ave., seven miles east of downtown Washington, D.C. Walter Coker and Brian Crivella of JLL represented the undisclosed seller in the transaction. Jamie Leachman of JLL originated a 10-year, fixed-rate Fannie Mae acquisition loan on behalf of the buyer, Harbor Group International LLC.
GLENVIEW, ILL. — JLL has brokered the sale of a newly constructed, 18,000-square-foot retail property that is triple net leased to Goodwill in the Chicago suburb of Glenview. The sales price was not disclosed. The building is situated on 1.7 acres at 2740 Old Willow Road. JLL marketed the property on behalf of the seller, a Chicago-based developer. Florida-based Best Properties LLC purchased the asset while completing a 1031 tax-deferred exchange. Goodwill Industrials of Southeastern Wisconsin Inc., which is the largest of the more than 165 Goodwill organizations worldwide, began store operations at the property in February with a 10-year lease.