COLUMBUS, OHIO — Reich Brothers has acquired a 142,223-square-foot industrial facility in Columbus for an undisclosed price. The property previously served as the main production and warehousing location in the Columbus market for printing company Quad Graphics. The building is located at 4051 Fondorf Drive and is directly adjacent to Walmart’s distribution and logistics hub. The property features clear heights ranging from 21 to 24 feet and can be subdivided to accommodate multiple tenants. Reich Brothers intends to repurpose the facility for light manufacturing and distribution. Site work has commenced and is expected to be completed in the coming months.
FERGUS FALLS, MINN. — Marcus & Millichap has brokered the $7 million sale of Red River Village in Fergus Falls in western Minnesota. Built in 2011, the apartment property includes 66 units that are designated for residents age 55 and older. Floor plans range from one to three bedrooms. Chris Collins and Evan Miller of Marcus & Millichap brokered the transaction.
DORAVILLE, GA — Wilson Investment Properties and Liquid Capital Real Estate have acquired Forest Cove, a 646-unit apartment complex in Doraville. The joint venture plans to upgrade unit interiors, repaint the building exteriors and enhance existing amenities, which include a dog park, fitness center, swimming pool, playground, soccer field and an outdoor fire pit. The property offers one-, two- and three-bedroom floor plans and is situated at 3497 Meadowglenn Village Lane, four miles from the Doraville MARTA Station. The seller and sales price were not disclosed.
DECATUR, GA. — TerraCap Management has acquired 160 Clairemont, a 122,700-square-foot office building in Decatur. The property is situated six miles east of downtown Atlanta and offers amenities such as a fitness center, onsite café and a conference center. Samir Idris and Davide Meline of Cushman & Wakefield represented the undisclosed seller in the transaction. Brian Linnihan and Richard Henry of Cushman & Wakefield worked on behalf of the buyer to arrange acquisition financing through Delta Community Credit Union. The sales price was not disclosed.
BROOKLYN, N.Y. — JLL has negotiated the $41 million sale of 151 Kent Avenue, a family-owned multifamily property in Brooklyn. The building, which features 46 loft-style units, was fully occupied at the time of sale and is located near several waterfront parks and employment centers. Brendan Maddigan and Ethan Stanton of JLL represented the seller in the transaction. The buyer was a local liability company that was not represented by an outside brokerage firm. Additional terms of sale were not disclosed.
SALINE, MICH. — Marcus & Millichap has brokered the $2.9 million sale of a property net leased to Tractor Supply in Saline, about 10 miles south of Ann Arbor. The 18,104-square-foot building is located at 111 Sage Court. Tractor Supply has operated at the property for 18 years. Brett Winger and Dominic Sulo of Marcus & Millichap brokered the sale. Steve Chaben assisted on the transaction as the broker of record.
NAPERVILLE, ILL. — Higher Grounds Education has purchased a 9,897-square-foot building to open a Montessori school in Naperville. The purchase price was not disclosed. The property, situated on one acre at 5051 Ace Lane, formerly served as an Alder School daycare facility. Linda Kost and Dave Schmidt of Realty Metrix Commercial represented the seller, DBJ Corp. Higher Grounds plans to renovate the property and reopen the facility late this summer. Higher Grounds is a Montessori education program for children from birth to adolescence.
SAN FRANCISCO — San Francisco-based Reliant Group Management has acquired a seven-property multifamily portfolio from a private seller for $116 million. Consisting of 603 units, the communities are located in Napa, Vallejo, Hercules, Antioch, Dublin and Hayward. Richard Knutson, Anthony Pappageorge, Zach LeBeouf and Will Thomas of Newmark Knight Frank Oakland represented the seller in the deal. Additional details of the transaction were not disclosed.
SCOTTSDALE, ARIZ. — An entity formed by Phoenix-based Clear Sky Capital has completed the disposition of Tatum Place, a 164-unit multifamily property located at 16801 N. 49th St. in Scottsdale. Tatum Investment Partners, an entity formed by Chicago-based Rockwell Partners, purchased the asset for $26.1 million. Tatum Place features a mix of one- and two-bedroom apartments with an average size of 814 square feet. Units offer nine-foot ceilings, all-electric kitchens, in-unit washers/dryers, patios/balconies, wood-style flooring and walk-in closets. Community amenities include a fitness center, two swimming pools, a poolside clubhouse, outdoor barbecue grills, covered parking, gated access, a fire pit and complimentary Wi-Fi. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the deal.
BELFAIR, WASH. — Marcus & Millichap has arranged the sale of All Star Self Storage, Boat & RV, a self-storage facility located at 19720 E. Highway 106 in Belfair. A regional investment group acquired the property from a local partnership for $9.7 million, or approximately $127 per rentable square foot. The five-parcel asset is situated on 12 acres and features 586 self-storage units, a 25,000-square-foot boat barn for indoor boat and vehicle storage and 120 uncovered parking spaces. The property was built in several phases between 1987 and 2003. Christopher Secreto of Marcus & Millichap represented the seller and secured the buyer in the deal.