HARRISBURG, PA. — New Jersey-based brokerage firm The Kislak Co. Inc. has negotiated the $4.6 million sale of Uptown Plaza, a 156,066-square-foot shopping center in Harrisburg. The center was built on 14 acres in 1957 and includes two pad sites, one of which is occupied by McDonald’s. Robert Holland of Kislak represented the seller, Town Associates LP, in the transaction. Barry Waisbrod, also with Kislak, procured the buyer, America’s Realty LLC.
WAUWATOSA, WIS. — Marcus & Millichap has arranged the $6.4 million sale of Gallatin Apartments in Wauwatosa, located immediately west of Milwaukee. Built in 2020, the 27-unit apartment building is located at 2515 N. Wauwatosa Ave. Amenities include a fitness center, underground parking, bicycle storage, a rooftop deck and private dog run. Matthew Whiteside, Mark Peltin and Blake Hanlon of Marcus & Millichap represented the undisclosed seller. Whiteside procured the buyer, which was also undisclosed.
GOODYEAR, ARIZ. — Scottsdale-based Atlas Capital Partners has completed the disposition of Elwood Rising, a speculative Class A industrial development in Goodyear, a suburb west of Phoenix. Cohen Asset Management purchased the property for $21.8 million. Delivered in January, the 120,000-square-foot building is fully leased to a global industrial field services company, which executed a long-term lease while the building was under construction. Located at 3750 S. 156th Ave., Elwood Rising features an all-concrete and secured truck court with a maximum depth of 220 feet, 3,600 square feet of office space, 32-foot clear heights and a fully air-conditioned warehouse. Kirk Kuller, Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented both parties in the transaction. Pat Harlan and Kyle Westfall of JLL served as the project’s leasing team and negotiated the existing lease.
SALT LAKE CITY AND ST. GEORGE, Utah — Blueprint Healthcare Real Estate Advisors has brokered the sale of two communities in Utah. The seller was a national developer/investor seeking an exit from more than a dozen geographically disparate, older-vintage communities. Pennant Group acquired the assets for an undisclosed price. The communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis of operator transitions to create regional groupings coupled with renovations and repositioning. Unfortunately, the cumulative impact of COVID followed by the unprecedented rise in interest rates created meaningful headwinds to the original thesis and drove a portfolio re-prioritization, rationalization and de-levering effort for the owner. Opened in 1999/2000, the Utah portfolio consisted of a 113-unit assisted living and memory care community in urban-infill Salt Lake City site and a 75-unit assisted living and memory care community in Saint George, located in the southwest corner of the state near the Nevada and Arizona borders. Alex Florea, Giancarlo Riso and Amy Sitzman led the Blueprint team.
GARDEN GROVE, CALIF. — Lee & Associates Orange has arranged the sale of a freestanding industrial and warehouse property in the Orange County city of Garden Grove. The asset traded for $6.8 million. Situated on 1.12 acres at 7571 Santa Rita Circle, the building features 26,000 square feet of industrial and warehouse space, as well as a large, fenced yard. Jack Haley and Greg Diab of Lee & Associates’ Orange office represented the undisclosed buyer and undisclosed seller in the deal.
LOS ANGELES — Spectrum Commercial Real Estate has arranged the acquisition of an industrial asset located at 7653 Burnet Ave. in the Van Nuys neighborhood of Los Angeles. The property traded for $6.2 million. The names of the seller and buyer were not released. The 19,500-square-foot building features six individual units, multiple ground-level loading doors, 15-foot warehouse clear heights, ample power, and two fully fenced and secured parking lots. A single tenant currently occupies the multi-tenant property. Yair Haimoff of Spectrum CRE represented the buyer in the deal.
SEATTLE — Marcus & Millichap has arranged the sale of a gas station in the Ballard neighborhood of Seattle. Shell occupies the property, located at 6759 15th Ave. NW, on a net-leased basis. A partnership sold the asset for $3.2 million. The buyer, a local experienced fuel-station owner, will continue to operate the 1,950-square-foot property as a Shell station. Hank Wolfer of Marcus & Millichap’s Seattle office represented the seller in the deal.
KENNESAW, GA. — Cushman & Wakefield has arranged the sale of The Haven at Kennesaw, a cottage-style student housing community located near the Kennesaw State University (KSU) campus in Kennesaw, roughly 30 miles northwest of Atlanta. Developed in 2018, the property features 148 beds across 32 units in one-, four- and five-bedroom configurations. Amenities include a swimming pool, sundeck and green space. Travis Prince, Victoria Marks, Travis Presnell and Shawn Lubic of Cushman & Wakefield represented the seller, Henssler Capital LLC, in the transaction. The Preiss Co. acquired the community, which was fully occupied at the time of sale. Terms of the transaction were not disclosed.
AIKEN, S.C. — Marcus & Millichap has brokered the $4.3 million sale of a single-tenant office building located in Aiken, about 20 miles east of Augusta, Ga. UPS Supply Chain Solutions occupies the 51,250-square-foot property, which is located at 2031 S. Centennial Ave. Ani Paulson of Marcus & Millichap’s Atlanta office represented the undisclosed seller in the transaction. Ben Yelm, the firm’s broker of record in the state, assisted in closing the sale.
JERSEY CITY, N.J. — Hudson Valley Property Group has completed the renovation of Grandview Terrace Apartments, a 283-unit affordable seniors housing complex in the Journal Square area of Jersey City. The $15.2 million, 16-month project upgraded the cabinetry, countertops, appliances, lighting, flooring, walls and water fixtures in the units and added amenities such as a new sky lounge with a stretching room, community room, library and a computer center. KeyBank provided construction financing for the project, and that loan was refinanced under HUD’s 223(f) program upon completion.