FRESNO, CALIF. — Sands Investment Group (SIG) has arranged the sale of a retail property located at 6793 N. Weber Ave. in Fresno. A regional merchant developer sold the property to an undisclosed buyer for $4.1 million. Panera Bread occupies the newly constructed, 4,300-square-foot retail property under a 15-year, triple-net lease. John Cigliano of SIG’s Santa Monica office represented the seller in the transaction.
PUEBLO, COLO. — Pinnacle Real Estate Advisors has arranged the sale of an office building, located at 720 N. Main St. in Pueblo. An undisclosed buyer acquired the property for $2.3 million, or $55.39 per square foot. The building features 41,524 square feet of office space. Andrew Monette and Jeff Johnson of Pinnacle represented the undisclosed buyer, while Jamie Mitchell and Michael Krebsbach, also of Pinnacle, represented the seller in the deal.
NAPERVILLE, ILL. — Real Capital Solutions has acquired Naperville Corporate Center for $38.7 million. The 420,540-square-foot office complex includes four buildings. Naperville Corporate Center is 83.6 percent leased to tenants such as KeHe, Trizetto Group, Berkley Insurance, Apex and Infogix Inc. Patrick Shields, Bryan Rosenberg, Jaime Fink and Jeff Bramson of HFF represented the seller, a joint venture between TriGate Capital LLC and Pearlmark.
MOUNT MORRIS, ILL. AND COVINGTON, TENN. — Milwaukee-based Phoenix Investors has purchased two industrial properties formerly occupied by printing company Quad Graphics, including one in Mount Morris, for a combined $13.5 million. The Mount Morris facility features 586,706 square feet and is located at 404 N. Wesley Ave., about 30 miles southwest of Rockford. The property features 24 loading docks, two drive-in doors and rail access to BNSF. Phoenix also acquired a 523,010-square-foot property in Covington, Tenn. Phoenix purchased the properties from Industrial Realty Group. Both properties have existing tenants in place.
HOUSTON — NAI Partners has arranged the sale of a 54,750-square-foot warehouse located at 14333 Sommermeyer St. in northwest Houston. Nick Peterson, John Ferruzzo and Ryan Searle of NAI Partners represented the seller, Vallourec Tube Alloy LLC, a provider of casing and tubing accessories, in the sale. Justin Clark and Nathan Gaines of Clark Gaines represented the buyer, H&B Development & Construction LP.
HOBOKEN, N.J. — HFF has brokered the $146 million sale of The Rivington, a 240-unit apartment community in Hoboken. The transaction is the largest apartment sale in New Jersey year-to-date, according to HFF. The Rivington is located at 1130 Grand St. in the northwest section of Hoboken. Jose Cruz, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF represented the seller, institutional investors advised by J.P. Morgan Asset Management, in the transaction. The buyer was Equity Residential, which purchased the property free and clear of existing debt. The property was completed in 1999 and features 240 two-bedroom units at market-rate rents. A majority of the units have been renovated since 2014. Amenities include a fitness center, clubhouse and private storage lockers.
NEWPORT, R.I. — NKF Capital Markets has orchestrated the sale of the Newport Grand Casino in Newport for $10.1 million. NKF represented the seller, Twin River Management Group, in the transaction. The buyer was Carpionato Group. Initially serving as an arena for jai alai, Newport Grand added slot machines in 1992 and was renovated in 2008 to add space for a full casino. The property will continue to operate as the Newport Grand Casino until the gaming facility relocates to Tiverton, Rhode Island later this year. The buyer plans to redevelop the 23.5-acre site into a mixed-use project.
NEW YORK CITY — Rosewood Realty Group has negotiated the sale of four walk-up apartment buildings in the Bronx for $7.3 million. The properties sold for 11 times the current rent roll at a 5.5 percent cap rate. The four-story buildings, which are located at 2542-2548 White Plains Road, are comprised of 24 residential units and eight retail storefronts that include a local grocery, restaurant and beauty salon. Built in 2008, the attached properties total 29,140 square feet. Rosewood Realty represented the buyer, a group of private investors, and the seller, Madison Realty Capital, in the transaction.
NASHVILLE, TENN. — Virginia Beach, Va.-based CCP Commercial Real Estate has acquired a five-building office-flex portfolio in Nashville for $41.2 million. The properties are located within the city’s Airport North and Metro Center submarkets. The portfolio, which was 97 percent leased at the time of sale, totals 413,000 square feet and includes a mix of office and warehouse space. The name of the seller was not disclosed. The acquisition brings CCP’s portfolio in the Nashville market to approximately 1 million square feet.
BETHESDA, MD. — HFF has brokered the sale of Flats at Bethesda Avenue, a 162-unit apartment community in Bethesda. Stephen Conley, Sue Carras, Walter Coker, Brian Crivella, John Owendoff and Jordan Lex of HFF arranged the transaction on behalf of the seller, a joint venture between StonebridgeCarras, PN Hoffman, Buvermo and Northwestern Mutual. The HFF team also procured the buyer, a fund managed by BlackRock Real Assets. Flats at Bethesda Avenue, constructed in 2015, includes more than 40,000 square feet of ground-floor retail space that is fully leased to Pottery Barn, Pottery Barn Kids, PassionFish, Silver, Paul, Chop’t and Long & Foster Real Estate. Community amenities include a rooftop deck with a kitchen, lounge, fire pit and bar; fitness center; two-level clubhouse with fireplace; billiards and kitchen; coffee lounge; and a terraced outdoor patio that connects to the Capital Crescent Trail, an off-road rail-trail that stretches 11 miles from Washington, D.C.’s Georgetown district to Silver Spring, Md.
