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Acquisitions

AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Negotiates $10.5M Sale of Retail Strip Center in Vernon Hills, Illinois

by Kristin Harlow

VERNON HILLS, ILL. — Marcus & Millichap has negotiated the $10.5 million sale of Hawthorn Village Commons in the Chicago suburb of Vernon Hills. The 51,815-square-foot retail strip center was built in 1981. Tenants include Hobby Lobby, Dollar Tree, Panda Express, Wendy’s and Subway. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a privately held Chicagoland investment group, and procured the buyer, a local investor completing a 1031 exchange. Steven Weinstock, broker of record in Illinois, assisted in closing the transaction.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Brokers Sale of Industrial Development Site in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Lee & Associates has brokered the sale of a nearly four-acre industrial development site at 2290 White Oak Circle in Aurora. The sales price was undisclosed. The site features convenient access to the I-88 tollway via Eola Road to the east and Farnsworth Avenue to the west. Nick Eboli and Andrew Block of Lee & Associates represented the seller. George Cibula of DarwinPW Realty/CORFAC International represented the buyer, which plans to build a 50,000- to 60,000-square-foot speculative cold storage or warehouse.

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AcquisitionsIndianaIndustrialMidwest

Zacher Co. Arranges Sale of 9,917 SF Industrial Building in Auburn, Indiana

by Kristin Harlow

AUBURN, IND. — The Zacher Co. has arranged the sale of a 9,917-square-foot industrial building in Auburn, about 22 miles north of Fort Wayne. The sales price was undisclosed. The property is located at 1004 Auburn Drive. Dan Gabbard of Zacher represented the seller, The Richard and Phyllis Poff Estate. Ideal Property LLC was the buyer.

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13201-Dahlia-St-Fontana-CA
AcquisitionsCaliforniaIndustrialWestern

Rexford Industrial Buys Fully Leased Industrial Building in Fontana, California for $70.1M

by Amy Works

FONTANA, CALIF. — Rexford Industrial has acquired an industrial property, located at 13201 Dahlia St. in Fontana, from an undisclosed seller for $70.1 million. Constructed in 1989, the cross-dock industrial facility features 30-foot clear heights, 59 dock-high door and four grade-level doors. At the time of sale, the 278,650-square-foot building was fully leased to a credit tenant. Mark Detmer, Patrick Nally, Evan Moran, Mike McCrary, Jeff Bellitti, Ruben Goodsell and Hunter McDonald of JLL handled the transaction.

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AcquisitionsColoradoRetailWestern

Pinnacle Real Estate Negotiates Sale of 19,622 SF Shopping Center in Thornton, Colorado

by Amy Works

THORNTON, COLO. — Pinnacle Real Estate Advisors has directed the sale of Shops at Highpointe Park in Thornton. A Colorado-based private investor sold the asset to a Pennsylvania-based institutional investor for $6.3 million. Located at 9740 and 9760 Grant St., Shops at Highpointe Park consists of two adjacent retail strip centers built in 2008 and totaling 19,622 square feet. Justin Krieger represented the seller and procured the buyer in the deal.

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AcquisitionsArizonaMultifamilyWestern

Cushman & Wakefield | PICOR Brokers Sale of 20-Unit Apartment Complex in Tucson

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Wildflower Apartments, a multifamily property in Tucson. An entity doing business as Wildflower Apts LLC acquired the asset from Aim Higher Properties LLC for $2.5 million. Located at 2850 N. Alvernon Way, Wildflower features 28 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

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AcquisitionsConnecticutMultifamilyNortheast

IPA Negotiates Sale of 99-Unit Multifamily Property in Shelton, Connecticut

by Taylor Williams

SHELTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Huntington Townhomes, a 99-unit multifamily property in Shelton, located in southern coastal Connecticut. Built on seven acres in 2008, the property features 86 townhomes and 13 two- and three-bedroom apartments with an average size of 1,414 square feet. Amenities include a pool, fitness center and outdoor grilling and dining stations. Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel of IPA represented the seller, Inland Private Capital Corp., and the buyer, Beachwold Residential, in the transaction.

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2603-Augusta-Houston
AcquisitionsOfficeTexas

LandPark, Porter Law Buy 244,804 SF Office Building in Houston’s Galleria District

by Taylor Williams

HOUSTON — A partnership between locally based investment firm LandPark Advisors and The Porter Law Firm has purchased 2603 Augusta, a 244,804-square-foot office building in Houston’s Galleria district. The law firm is in the process of relocating from 2201 South Voss to the 16-story building, which features newly renovated common areas, including bathrooms and amenity spaces, as well as updated infrastructure. The new ownership also plans to add pickleball courts and a golf simulator to the amenity package. The sales price was not disclosed.

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AcquisitionsMultifamilyNorthmarqTexas

Northmarq Brokers Sale of 64-Unit Apartment Complex in North Austin

by Taylor Williams

AUSTIN, TEXAS — Northmarq has brokered the sale of Cielo at North Domain, a 64-unit apartment complex in North Austin. Built in 1973, the property consists of eight two-story buildings that primarily house one-bedroom units with an average size of 600 square feet. About half the residences have been recently upgraded with new appliances, windows, fixtures, hardware and countertops. Hayden Schnieders, Scott Lamontagne, Will Collier and Jordan Vaughn of Northmarq represented the seller, Atlanta-based Zavala Capital Group, in the deal. The buyer was Texas Housing Conservancy, an Austin-based multifamily operator.

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AcquisitionsMidwestRetailWisconsin

Marcus & Millichap Arranges Sale of Sentry Foods-Occupied Retail Property in Milwaukee

by Kristin Harlow

MILWAUKEE — Marcus & Millichap has arranged the sale of a 25,154-square-foot retail property occupied by grocer Sentry Foods in Milwaukee for an undisclosed price. The asset was built in 1960, and Sentry has occupied the space since 2008. There are 4.5 years remaining on the lease. Ben Kohl and Mitchell Kiven of Marcus & Millichap represented the seller, a local family. The property sold at 95 percent of the list price and a cap rate of 7.94 percent. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.

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