PHOENIX — Cushman & Wakefield has arranged the sale of an industrial property, located at 2424 S. 21st St. in Phoenix. The 40,930-square-foot asset traded for $9.5 million. The names of the seller and buyer were not disclosed. Cushman & Wakefield’s Phoenix Industrial Private Capital Group handled the transaction.
MANITOWOC, WIS. — Marcus & Millichap has negotiated the $3.4 million sale of Harbor Town Inn & Suites, an 80-room hotel in Manitowoc along Lake Michigan. Built in 1978 and located at 4004 Calumet Ave., the property is independently operated. Amenities include a business center, game room, onsite laundry and outdoor patio. Jared Plamann and Jake Erickson of Marcus & Millichap represented the seller, a family that had owned the property for 34 years, and procured the local buyer. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.
TUCSON, ARIZ. — Arizona Diagnostic Pathology Associates has acquired an office space at Rillito Crossing Corporate Centre in Tucson from Rale Offices LLC for $1 million. The 4,324-square-foot office space is located at 3987 E. Paradise Falls Drive. Jason Shaltiel of Cushman & Wakefield | PICOR represented the buyer, while Georgina Plante of RISING Real Estate Services represented the seller in the deal.
BALDWIN, WIS. — NAI Pfefferle has arranged the sale of a 17,000-square-foot office building in Baldwin, about 50 miles east of Minneapolis. The property is located at 890 Spruce St. The sales price was undisclosed, but the asking price was $2.3 million. TJ Morice of NAI Pfefferle and Don Timmerman of Keller Williams brokered the sale.
MADISON, WIS. — CBRE has negotiated the sale of Royster Commons and 515@Royster, two apartment properties totaling 174 units in Madison. Weidner Apartment Homes purchased the communities from Ruedebusch Development & Construction for $34 million. Gretchen Richards, Patrick Gallagher, Matson Holbrook and Ted Nevermann of CBRE represented the seller. CBRE also provided acquisition financing for the buyer. Built in 2019, Royster Commons includes 86 units averaging 956 square feet each. Constructed in 2022, the 88-unit 515@Royster features floor plans averaging 791 square feet each.
CHICAGO — DarwinPW Realty/CORFAC International has brokered the sale of a 14,000-square-foot building and 3.3 acres of industrial outdoor storage at 4150 S. Packers Ave. in Chicago’s Stockyards neighborhood. The sales price was undisclosed. The property is situated within an Enterprise Zone and is zoned for industrial use. Ed Wabick and Terry Lynch of DarwinPW Realty/CORFAC International represented the seller, Stockyard Bricks. The buyer, Midwest Trailer Repair, intends to use the site and building to expand its business. Humberto Garcia of Realty at Home represented the buyer.
AUSTIN, TEXAS — Locally based brokerage firm Muskin | Elam Group has arranged the sale of Summer Grove, a 124-unit apartment complex in northwest Austin. The garden-style property was built in 1984 and offers one- and two-bedroom units and amenities such as a pool, fitness center and a pet park. Daniel Elam of Muskin | Elam Group represented the undisclosed, Chicago-based seller in the transaction. Austin-based investment firm Monterra Capital Partners purchased Summer Grove for an undisclosed price with plans to implement a value-add program.
DAVIE, FLA. — JLL Capital Markets has arranged the $22.3 million sale of Ridge Plaza, a shopping center in the South Florida city of Davie. JBL Asset Management acquired the property from Baltimore-based Continental Realty Corp. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented the seller in the transaction. Located at 9000-9200 W. State Road 84, the property totals 138,554 square feet. Tenants at Ridge Plaza, which was 98.6 percent occupied at the time of sale, include Paragon Theaters, Goodwill and Off The Wall.
MIAMI — NAI Miami | Fort Lauderdale has brokered the $5.2 million sale of an office building located at 2150 Coral Way in Miami. Jeremy Larkin and Craig Merlin of NAI Miami | Fort Lauderdale represented the seller, an entity doing business as Ocean Coral Way Inc., in the transaction. Alphatur LLC acquired the property, which totals 17,450 square feet and is situated along Coral Way, a corridor connecting the Coral Gables district to Miami’s Brickell and Downtown districts.
CHANDLER, ARIZ. — Libitzky Property Cos. has acquired Parc Germann, a two-building industrial campus in the Phoenix suburb of Chandler, for an undisclosed price. Built in 2020, Parc Germann offers a total of 224,471 square feet of Class A industrial space that was 100 percent leased to three tenants at the time of acquisition. Situated on 16 acres, Parc Germann features a 92,261-square-foot building at 2215 E. Germann Road and a 132,210-square-foot warehouse at 2225 E. Germann Road. The buildings feature 28-foot clear heights and the campus offers 62 dock-high doors, 14 drive-in doors, 262 parking spaces and ideal ingress/egress. Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of Cushman & Wakefield National Industrial Advisory Group – Mountain West represented the undisclosed seller in the disposition.