WELLESLEY, MASS. — Burlington, Mass.-based Linear Retail Properties LLC has acquired two buildings totaling 17,900 square feet in downtown Wellesley, a western suburb of Boston. The sale, which included the adjoining 60-space parking lot, closed at a price of $17.6 million. Tenants at the buildings include CVS Pharmacy, Coldwell Banker Residential Brokerage, J.P. Licks and Vision Optics. The seller was a private family trust.
RICHFIELD, N.Y. — Marcus & Millichap has brokered the sale of Bronner Manor, a 24-unit apartment community in Richfield Springs, a city located in central New York. The property was built in 1981 and offers one- and two-bedroom units, as well as onsite laundry facilities. Chip Collins of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a private investor, in the transaction. John Krueger of Marcus & Millichap also worked on the deal, which closed at a sales price of just over $1 million.
CITY OF INDUSTRY, ORANGE, CARLSBAD AND SAN MARCOS, CALIF. — Rexford Industrial has purchased four industrial properties located in Southern California for a total of $84.5 million. The acquisitions were funded using cash on hand. Totaling 456,000 square feet, the portfolio includes: A 256,993-square-foot facility, located at 13890 East Nelson Ave. in City of Industry, was purchased for $41.8 million, or $163 per square foot. The fully occupied building features 24-foot clear heights, 36 dock positions and active rail service. A 92,647-square-foot property, located at 445 W. Freedom Ave. in Orange, was acquired for $18 million, or $94 per square foot. The three-tenant property is fully leased and offers 24-foot clear heights and 13 dock positions. A 106,311-square-foot facility, located at 2270 Camino Vida Roble in Carlsbad, was purchased for $16.8 million, or $158 per square foot. At the time of sale, the property was 70 percent occupied. In a separate, off-market transaction, Rexford Industrial purchased 980 Rancheros Drive in San Marcos for $7.9 million, or $173 per square foot. The single-tenant industrial building contains 45,678 square feet of industrial space with 24-foot clearance, three dock positions, heavy power and a private yard. At the time of sale, the property …
LAS VEGAS — TSSP – Moonwater Capital has completed the disposition of an office property within the Summerlin master-planned community in Las Vegas. A California-based private investment entity acquired the property for $19.9 million, or $338 per square foot. Located at 1451 Center Crossing Road, the building features 58,950 square feet of Class A office space. An undisclosed Fortune 500 company occupies the single-tenant property. Tivon Moffitt, Peter Bauman and Bret Davis of JLL represented the seller, while Kase Abusharkh of The Kase Group represented the buyer in the deal.
POWAY, CALIF. — Cushman & Wakefield has arranged the sale of an industrial building, located at 13450 Stowe Drive in Poway. SENTRE sold the facility to SOCAL Stowe LLC for $15.9 million. SENTRE is an acronym for Stewards and Entrepreneurs of Real Estate. Situated on 4.3 acres and originally constructed in the early 1990s, the single-story building with mezzanine space features dock- and grade-level loading, open outdoor amenities, efficient office layouts, new LED lighting and a secured yard. Aldila Composite Materials, a subsidiary of Mitsubishi and a designer and manufacturer of composite materials, occupies the 73,000-square-foot facility. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey, Brooks Campbell, Zach Harman and Devin Muna of Cushman & Wakefield’s San Diego and Orange County, Calif., offices represented the seller, while Jim Snyder and Patrick Lacey of Lee & Associates represented the buyer in the deal.
DAYTON, OHIO — Marcus & Millichap has brokered the sale of the Holiday Inn Express & Suites Dayton-Huber Heights for $5.9 million. The 65-room hotel is located at 5610 Merily Way in Dayton. Andrew Bankhurst and Alexandre Duong of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, a limited liability company.
KENOSHA, WIS. — The Barry Company has arranged the sale of a lot that spans about three-quarters of an acre in Kenosha. The buyer, S&L Properties Kenosha 142 LLC, plans to construct a Culver’s restaurant on the site. The lot is located at the intersection of Highway 142 and I-94 and is adjacent to Amazon’s 1.5 million-square-foot distribution campus. Kevin Barry of Barry Co. represented the undisclosed seller. Tom Treder of Founders 3 Real Estate Services represented the buyer. Culver’s is known for its burgers and frozen custards.
OREGON, OHIO — Reichle Klein Group has negotiated the $1.4 million sale of a Dollar General-occupied property in Oregon, a suburb of Toledo. Completed in October 2018, the 9,100-square-foot building is located at 2450 Woodville Road. Christian Zaciewski of Reichle Klein represented the seller, Linden Avenue LLC. Net Realty Advisors represented the buyer, California-based Frank Living Trust.
SANDY SPRINGS, GA. — Hudson Properties has sold The Preserve at Dunwoody, a garden-style apartment complex in Sandy Springs. The property is situated near the Chattahoochee River and Chattahoochee Nature Preserve, 20 miles north of downtown Atlanta. The Preserve at Dunwoody was built in 1984 and offers one- and two-bedroom floor plans. Community amenities include two swimming pools with sundecks, internet café, tennis court, fitness center, private lake, clubhouse and a health club. Kevin Geiger of CBRE represented the buyer, Magnolia Capital, in the transaction.
HUNTSVILLE, ALA. — Big V Property Group has acquired Westside Centre, a 655,638-square-foot shopping center in Huntsville, for $35.9 million. The property was 74 percent leased at the time of the sale to tenants including Big Lots, Stein Mart, Tuesday Morning, PetSmart, Ross Dress for Less, Shoe Carnival and Party City. Super Target shadow anchors the center. Westside Centre is situated at 6275 University Drive NW, adjacent to the 4,000-acre Cummings Research Park and six miles west of downtown Huntsville. The seller was not disclosed.
