GLENDALE, ARIZ. — Sun Commercial Real Estate’s Investment Services Group has arranged the sale of a medical office building located at 20325 N. 51st Ave. in Glendale. A California-based buyer acquired the property for $4.5 million, or approximately $375 per square foot. DaVita Dialysis occupies the 12,148-square-foot property on an absolute net-leased basis, with at least 10 years remaining on its lease. Cathy Jones, Jessica Cegavske, Roy Fritz, Paul Miachika and Taylor Vasquez of Sun Commercial Real Estate handled the transaction. The name of the seller was not released.
COSTA MESA, CALIF. — DAUM Commercial Real Estate Services has arranged the sales of two industrial warehouses in Costa Mesa to two private buyers. Mike Barreiro of DAUM represented the seller, Keller & Sons Construction, in both transactions. Constructed in 1971 and 1972, the warehouses both feature secured fenced yards, drive-in/grade-level doors, 13-foor clear heights, warehouse skylights, office space and upgraded roofs. In the first transaction, Steven Card and Christopher O’Connor of Savills Studley represented the buyer of the 6,498-square-foot property located at 1621-1625 Ohms Way, which sold for $2.5 million. In the second deal, a separate private buyer purchased the 6,897-square-foot property at 1635 Ohms Way for $2.6 million.
FORT WAYNE, IND. — HREC Investment Advisors has arranged the sale of the 127-room Comfort Suites in Fort Wayne for $7.1 million. The limited-service hotel is located at 5775 Coventry Lane. Tom Sommer, Zane Varvel and James Robinson of HREC represented the seller, Condor Hospitality Trust (NYSE American: CDOR). Akram Namou of Fort Wayne Hotel Group purchased the asset. He owns three other full-service and extended-stay hotels in the Fort Wayne market.
ADDISON AND GLENDALE HEIGHTS, ILL. — Darwin Realty has brokered the sale of two industrial buildings in Illinois. Westwind Industrial, a general contractor specializing in medical, industrial and commercial property reutilization, purchased a 37,560-square-foot property in Addison for $2 million. The seller, AIM Inc., will leaseback the facility. Noel Liston and Nick Krejci of Darwin brokered the transaction. The duo also represented Comtelco Industries in its sale of a 13,500 square-foot facility in Glendale Heights. IVM Chemicals Inc. purchased the property for just under $1 million. G. Pat Ryan of Combined Commercial Realty represented IVM, which is a European-based distributor of industrial chemicals and pesticides.
BOCA RATON, FLA. — Cushman & Wakefield has brokered the $42.1 million sale of ADT Inc.’s 171,489-square-foot global headquarters located at 1501 Yamato Road in Boca Raton. ADT provides security and automation solutions for homes and businesses in the United States and Canada. Scott O’Donnell, Dominic Montazemi, Mike Davis, Greg Miller, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of the seller, Philadelphia-based RAIT Financial Trust. A joint venture between Boca Raton-based PEBB Enterprises and Chicago-based Tortoise Properties LLC acquired the office asset. Cushman & Wakefield’s Jason Hochman arranged a $28.6 million, non-recourse acquisition loan on behalf of the new ownership. The building is located within The Park at Broken Sound, a 700-acre mixed-use park. Constructed in 1983, the office building features a skylit atrium, water feature, golf course views and a structured parking garage. The building is fully leased to ADT and was fully renovated in 2011 before the tenant took occupancy.
WASHINGTON, D.C. — Easterly Government Properties (NYSE: DEA) has agreed to purchase a 14-property office portfolio across the United States for $430 million. The nearly 1.5 million-square-foot portfolio is 94 percent leased by the U.S. government and 99 percent leased overall. The seller was undisclosed. “We believe the acquisition of this portfolio is a wonderful opportunity for the company,” says William C. Trimble III, CEO of Easterly. “This acquisition is expected to grow our portfolio by approximately 39 percent on a rentable-square-foot basis, while still maintaining the same high-quality standard of assets Easterly is known for.” The portfolio includes the following assets: • A 267,766-square-foot office building in Buffalo, N.Y., housing Department of Veterans Affairs (VA), Internal Revenue Service (IRS) and a regional office for the National Labor Relations Board • A 239,331-square-foot building next to Chicago O’Hare International Airport that houses the Federal Aviation Administration’s (FAA) Great Lakes Regional Office and the U.S. Department of Agriculture (USDA) • A 225,057-square-foot facility in Portland, Ore.’s Central City Plan District housing the USDA, U.S. Army Corp of Engineers (ACOE), Federal Bureau of Investigation (FBI) and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) • A 182,500-square-foot build-to-suit property in Parkersburg, …
SECAUCUS, N.J. — CBRE has brokered the sale of 425 Meadowlands Parkway, a 111,106-square-foot office building in Secaucus, as well as the leaseback of approximately 45,000 square feet of office space currently occupied by the seller. CBRE represented the seller, Meadowlands Parkway Associates, in the transaction. The buyer was CPR Meadowlands Parkway LLC. The deal also involved a lease buyout of tenant Capital One.
ROCHELLE PARK, N.J. — Cushman & Wakefield has arranged the sale of 395 W. Passaic St., a four-story, 107,969-square-foot office building in Rochelle Park. The sales price was not disclosed. Cushman & Wakefield represented the sellers, Garrison Investment Group and Onyx Equities, in the transaction. They buyer was Ramaa Management. The three-acre property was 80 percent leased to eight tenants at the time of sale.
DALLAS — SHOP Cos. has arranged the sale of Haverwood Village, a 28,000-square-foot shopping center located along the Dallas North Tollway at 4809 Cole Ave. in Dallas. The property was 93.6 percent leased at the time of sale to tenants including Skillman Wok, Afrika Fusion, The Fade Shop, I-Apartments and Tsitsi’s African Styles. Tommy Tucker, Tim Axilrod and Cameron Burk of SHOP Cos. represented the seller, a limited liability company based in Dallas. The buyer and sales price were not disclosed.
THE WOODLANDS, TEXAS — Bellomy & Co. has arranged the sale of Affordable Self Storage The Woodlands, a 465-unit self-storage facility located on nearly five acres in The Woodlands. The Class A facility spans 90,800 rentable square feet across five buildings. The property includes climate-controlled and non-climate-controlled units and fully enclosed spaces for RVs and boats. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, an undisclosed company based in The Woodlands. Bellomy and Johnson also procured the Houston-based buyer.