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Acquisitions

AcquisitionsIllinoisIndustrialMidwest

Colliers Arranges Sale of 195,375 SF Industrial Building in Mundelein, Illinois

by Kristin Harlow

MUNDELEIN, ILL. — Colliers has arranged the sale of a 195,375-square-foot industrial building in Mundelein, a northern suburb of Chicago. The sales price was undisclosed. Known as Route 60 Logistics Center, the property is located at 1300 Allanson Road just west of a four-way interchange at I-94 and Route 60. Completed in 2021, the facility is fully leased to two tenants. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the sellers, Affinius Capital and Venture One Real Estate. An institutional real estate investor purchased the asset.

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AcquisitionsGeorgiaSelf-StorageSoutheast

Storage Acquisition Group Purchases 911-Unit Self-Storage Facility in Conyers, Georgia

by John Nelson

CONYERS, GA. — The Storage Acquisition Group (TSAG) has purchased a 911-unit self-storage facility located at 4489 McDonough Highway in Conyers, about 30 miles southeast of Atlanta. The 76,125-square-foot asset was the final facility of TSAG’s 18-property portfolio purchase from True Self Storage that spans 13,714 units across 10 states. The sales price was not disclosed. Bill Sitar Jr., John Cranley, Andrew Burachinsky and Monty Spencer led TSAG’s acquisition team on an internal basis.

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AcquisitionsCaliforniaIndustrialWestern

Rockpoint Completes Sale of Two-Building Industrial Property in San Diego to Badiee Development

by Amy Works

SAN DIEGO — Boston-based Rockpoint has completed the disposition of a two-building industrial property located in San Diego’s Otay Mesa neighborhood to Badiee Development. Financial terms of the transaction were not released. The sale is the third in a series of three industrial properties that Rockpoint and Badiee jointly purchased and developed and completes Rockpoint’s realization of all three properties. Located at 2080 Sanyo Ave. and 9350 Airway Road, the 243,000-square-foot asset offers 32-foot clear heights, a desirable dock door ratio, access to the 125 and 905 freeways and the flexibility to accommodate multiple tenant configurations in each building. Rockpoint and Badiee acquired the 15-acre site in June 2021 and subsequently developed the two industrial buildings.

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Pima-St-Logistics-Center-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Berkeley Partners Sells 97,240 SF Pima Street Logistics Center in Phoenix

by Amy Works

PHOENIX — Berkeley Partners has completed the disposition of Pima Street Logistics Center, a standalone industrial building on 4.2 acres in Phoenix, to Ares Management Real Estate fund for an undisclosed price. Situated in the city’s Sky Harbor submarket, the 97,240-square-foot Pima Street Logistics Center offers a multi-tenant layout, multiple storefronts, LED lighting and approximately 0.5 acres of secured yard. At the time of sale, the asset was fully leased to three tenants. Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction. Ares Industrial Management will manage the asset.

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245-E-Main-St-El-Cajon-CA
AcquisitionsCaliforniaMixed-UseMultifamilyOfficeRestaurantRetailWestern

Marcus & Millichap Brokers Sale of 10,734 SF Mixed-Use Property in El Cajon, California

by Amy Works

EL CAJON, CALIF. — Marcus & Millichap has arranged the sale of a mixed-use property located at 245 E. Main St. in downtown El Cajon. Syrian Investments acquired the asset from Ronald L. Bain for $2.6 million. The buyer plans to occupy the building and open its second restaurant on the street occupying the ground floor. Built in 2007, the fully vacant building offers 10,734 square feet of retail, office and apartment space, a rear parking lot, roll-up door, alley access and Main Street frontage. Nick Totah and Joseph Gutierrez of Marcus & Millichap represented the seller, while Na’il Salem of Premiere Homes procured the buyer in the deal.

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600-NW-Farris-Rd-Gresham-OR
AcquisitionsOfficeOregonWestern

VW Holdings Closes Sale of 4,030 SF Office Building in Gresham, Oregon

by Amy Works

GRESHAM, ORE. — VW Holdings has completed the sale of an office building and adjacent 0.4-acre land site at 600 N.W. Farris Road in Gresham, about 16 miles east of Portland. Lewis & Clark Montessori Charter School acquired the asset for $1.7 million. Constructed in 1978 and renovated in 2003, the 4,030-square-foot, single-story property is ADA-accessible and includes 26 parking spots. Tim Budelman of Portland-based Norris & Stevens represented the seller, while Anne Hecht of Cushman & Wakefield represented the buyer in the deal.

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Gateway-at-Denton
AcquisitionsMultifamilyStudent HousingTexas

IPA Negotiates Sale of 696-Bed Student Housing Property in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Gateway at Denton, a 696-bed student housing property that serves students at the University of North Texas. Built in 2005, the 228-unit complex is located within a half-mile of campus and features a mix of two-, three- and four-bedroom floor plans with complete bed-bath parity. Units range in size from 816 to 1,360 square feet. Amenities include a newly renovated clubhouse, three pools with cabanas, outdoor grilling and dining stations, basketball court, fitness center and a computer lab. Peter Katz and Drew Kile of IPA represented the seller, Los Angeles-based MJW Investments, in the transaction and procured the buyer, Vesper Holdings.

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AcquisitionsMultifamilyNew YorkNortheast

Brax Realty Negotiates $6.2M Sale of Two Manhattan Apartment Buildings

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Brax Realty has negotiated the $6.2 million sale of two adjacent apartment buildings in Manhattan’s East Village area. The buildings at 317 E. 14th St. and 319 E. 14th St. house 24 apartments between them as well as two retail spaces. According to LoopNet Inc., both buildings rise five stories and were constructed in 1910. Michael Ferrara and Cole Kinney Leonhardt of Brax Realty brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsMassachusettsMultifamilyNortheast

Marcus & Millichap Brokers $4.7M Sale of Apartment Building in Mansfield, Massachusetts

by Taylor Williams

MANSFIELD, MASS. — Marcus & Millichap has brokered the $4.7 million sale of a 25-unit apartment building in Mansfield, a southern suburb of Boston. The building at 1 Samoset Ave., which is known locally as “The Grain Mill” and was converted from that use to residential in 1981, consists of 24 one-bedroom apartments and a two-bedroom penthouse. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which were local limited liability companies, in the transaction.

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AcquisitionsGeorgiaRetailSoutheast

JLL Arranges Sale of Kroger-Anchored Shopping Center in Snellville, Georgia

by John Nelson

SNELLVILLE, GA. — JLL has arranged the sale of Presidential Commons, a 264,271-square-foot shopping center located in Snellville, a northeast suburb of Atlanta. Kroger anchors the property, which was 89 percent leased at the time of sale. Other tenants at the center include Petco, Ulta Beauty, Burlington, Five Below and Aaron’s. SITE Centers sold the property to Sterling Organization for an undisclosed price. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller in the transaction.

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