DENVER — Colony Northstar has completed the sale of an office/warehouse facility located at 1550 W. Evans Ave. in Denver. Calhoun Street Industrial and Matrix Group acquired the property for $7 million. Matrix Group will assume the leasing and management of the property. Situated within the West Evans Industrial Park, the 78,787-square-foot property was built in 1975 and was 93 percent leased at the time of sale. The asset features twin-t construction, 18-foot clear heights and a combination of drive-in loading and dock-high doors. Jason White, Ryan Sitov and Carmon Hicks of JLL Denver negotiated the transaction.
TAMPA, FLA. — ESJ Capital Partners LLC has sold University Park Business Center, a 99,154-square-foot medical office building in Tampa, for $18 million. The building is located at 4001 E. Fowler Ave., directly across from the University of South Florida (USF) campus and within one mile of four major hospitals. The property is home to tenants including Quest Diagnostics, Moffit Cancer Center and USF. The name of the buyer was not disclosed.
SANTA ANA, CALIF. — Faris Lee Investments has directed the sale of a retail property located at 111 E. Saint Andrew Place and 1947 and 1959 S. Main St. in Santa Ana. An undisclosed buyer acquired the property for $1.3 million. The property is a value-add, multi-tenant asset situated in Santa Ana’s historic district. Nick Coo, Matt Brooks, Tom Chichester and Joe Chichester of Faris Lee represented the undisclosed seller, while Andres Cortez of RE/MAX Orange County East represented the buyer in the deal.
JUPITER, FLA. — SRS Real Estate Partners has arranged the $8.1 million sale of a vacant, freestanding retail building in Jupiter, a city on Florida’s southeastern coast. Home Depot USA acquired the 38,000-square-foot asset and will use the site as an expansion and redevelopment of the Home Depot store currently onsite. Sports Authority previously occupied the property. Matthew Mousavi, Patrick Luther, John Artope and Michael Weiss of SRS arranged the transaction on behalf of the seller, Indiantown Road LLC. Corporate Property Dispositions and The Rotella Group Inc. represented Home Depot. Walgreens, PetSmart, Winn-Dixie and Pep Boys neighbor the property.
ST. LOUIS — Select Strategies Retail Holdings V LLC, an affiliate of privately held real estate investment firm Select Strategies Realty, has purchased a seven-property shopping center portfolio in metro St. Louis for $78.4 million. The 1.1 million-square-foot portfolio is 91 percent leased to tenants such as Aldi, Fresh Thyme Farmers Market, Burlington and Planet Fitness. The properties include Creve Coeur, Kings Highway, LeMay Shopping Center, Gravois Plaza, Kirkwood Crossing, Overland Crossing and Fairview City Centre. Jeremy Sain of HFF represented Select Strategies. The seller was not disclosed.
ROSEMONT, ILL. — Bridge Investment Group’s office division has acquired O’Hare International Center, a pair of nine-story office buildings adjacent to O’Hare International Airport in Rosemont. The purchase price was not disclosed. The buildings total 517,640 square feet. Bridge plans more than $5 million in capital improvements, including the renovation of both lobbies, a new tenant lounge and conference center. Renovations are expected to begin in mid-October. Originally built between 1984 and 1987, O’Hare International Center is currently 83 percent occupied. Rob Lundin, John Clark and John Norris of Newmark Knight Frank will market the property for lease. The seller was not disclosed.
MILWAUKEE — Colliers International has arranged the $5.7 million sale of the historic Pabst Boiler House No. 10, a retrofitted office building in Milwaukee’s Brewery District. The 40,744-square-foot, brick-and-timber loft office building is fully occupied by seven tenants, including law firms Borgelt, Powell, Peterson & Frauen SC and Ogletree Deakins. Tom Shepherd, Scott Welsh, Lyle Landowski and Jennifer Huber-Bullock of Colliers represented the seller, Milwaukee-based developer PBH Redevelopment LLC. The team will continue to manage and lease the building on behalf of the new owner, J. Vollrath LLC. Built in the 1870s and shuttered in 1996, the Pabst Brewery sat vacant for more than 10 years before it was purchased in 2006 by late real estate developer and philanthropist Joe Zilber. In 2007, a team of investors led by Max Dermond and Charlie Trainer purchased Pabst Boiler House No. 10 with plans to convert the building into a boutique office property.
CHICAGO — Essex Realty Group has brokered the sale of a 32-unit apartment building in Chicago’s West Ridge neighborhood for $3 million. The property, located at 2349 W. Devon Ave., also features 8,097 square feet of street-level commercial space that is fully leased. Abe Eilian and Doug Fisher of Essex represented the seller, while Brian Kochendorfer, Brian Karmowski and Troy Beebe represented the buyer.
CHICAGO AND NEW YORK CITY — Ivanhoé Cambridge has acquired Callahan Capital Properties (CCP) for an undisclosed price. The transaction will internalize all investment and asset management responsibilities. In 2012, Ivanhoé Cambridge partnered with CCP to expand its U.S. office properties platform. At the time of closing, the platform’s assets under management were in excess of $10 billion. Some prominent office properties that the partnership owns in New York include 85 Broad St., 1411 Broadway and Three Bryant Park. In Chicago, the duo owns 125 S. Wacker Drive and 180 North LaSalle. Canada-based Ivanhoé Cambridge, which has an office in New York, develops and invests in real estate properties, projects and companies. The company is the real estate investment arm of Quebec’s public pension fund manager. Through subsidiaries and partnerships, the company holds interests in more than 1,000 buildings, primarily in the residential, office, retail, industrial and logistics sectors. Chicago-based CCP is a real estate private equity firm founded in 2006 by Tim Callahan, the former CEO of Trizec Properties, an office real estate investment trust. Eastdil Secured advised on the transaction. — Kristin Hiller
NORWOOD, MASS. — Thor Equities has acquired the Norwood Medical Center, a three-story, 92,000-square-foot medical office building in Norwood for $23.5 million. The seller was undisclosed but was reported by various media outlets as Grander Capital Partners. Located at 825 Washington St., the 4.7-acre property is currently 95 percent occupied by a tenant roster that includes Steward Health Care and Quest Diagnostics. The facility serves as the primary medical office and outpatient services complex for Steward Norwood Hospital located directly across the street.