OAKLAND, N.J. — Dallas-based investment firm Dalfen Industrial has acquired Thornton Logistics Center, a 92,400-square-foot industrial building in Oakland, located in Bergen County in Northern New Jersey. The sales price was $14.6 million. The building is located within the 1.7 million-square-foot Oakland Industrial Park and features a clear height of 22 feet. Thornton Logistics Center was fully leased at the time of sale. Jordan Avanzato, Marc Duval, Nicholas Stefans and Jason Lundy of JLL brokered the off-market deal. The seller was not disclosed.
OAK FOREST, ILL. — Mid-America Real Estate Corp. has brokered the sale of Oak Forest Commons, a 115,754-square-foot shopping center in the Chicago suburb of Oak Forest. The sales price was undisclosed. The value-add property presents the opportunity for ownership to lease up grocer space formerly occupied by Food 4 Less. Rick Drogosz, Ben Wineman and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. The asset sold to First Tek. The property was managed by Pine Tree.
SPRINGFIELD, MO. — Merrill Gardens has acquired Mission Ridge, a 103-unit senior living community in Springfield, a city in southwest Missouri. The property features one- and two-bedroom residences offering independent living, assisted living and memory care. The purchase price and seller were undisclosed. Merrill Gardens, a privately held company, now operates 65 communities in 17 states.
JURUPA VALLEY, CALIF. — RealSource Group has arranged the sale of a single-tenant retail property located off State Route 60 in the Inland Empire city of Jurupa Valley. Greens Group sold the asset to an Irvine-based private investor for $14 million. Pilot Flying J Travel Center occupies the property under an absolute triple-net ground lease that relieves the buyer of any landlord responsibilities. Pilot Flying J has more than 14 years remaining on the initial lease term with four five-year renewal options and 10 percent rent increases every five years. Austin Blodgett and Jonathan Schiffer of RealSource Group represented the seller and buyer in the deal.
SPARKS, NEV. — Compass Commercial Real Estate Services has brokered the sale of a retail property located at 155 Ingenuity Ave. in the Reno suburb of Sparks. Cameron and Leona Curtiss acquired the asset for $6.4 million. Situated on 2.7 acres, the property features 16,196 square feet of retail space. Pat Kesgard and Kristie Schmitt of Compass Commercial represented the buyer in the transaction.
ROCKLIN, CALIF. — An affiliate of Banner Real Estate Group has completed the disposition of a self-storage facility located at 6025 Park Drive in Rocklin, approximately 22 miles northeast of Sacramento. An institutional buyer acquired the asset for an undisclosed price. Situated on 1.7 acres, the three-story, 98,240-square-foot building features 993 self-storage units in varying sizes. Completed in 2021, the property offers climate-controlled units, electronic access control, drive-up units and a covered loading bay. Brian Somoza led the JLL Capital Markets investment sales and advisory team that represented the seller in the deal.
HOUSTON — A partnership between locally based development and investment firm Pagewood and metro Philadelphia-based CenterSquare Investment Management has acquired a portfolio of nine industrial properties totaling 621,432 square feet in Houston. The portfolio comprises 46 shallow-bay buildings across 34 acres on the city’s northwest side. Stephen Ghedi and Jim Autenreith of locally based brokerage firm Moody Rambin represented the seller, HRES Group, in the transaction. Nick Spearman, Mat Volz and Paul Coonrod of Pagewood, in conjunction with Victoria Madrid and Burke Campbell of CenterSquare, represented the partnership. Warren Hitchcock and Blane Eikenhorst of Northmarq arranged acquisition financing for the deal. The new ownership plans to implement a capital improvement program across the portfolio and rebrand the properties as one development known as Gateway Industrial Commons. Partners Real Estate has been appointed as the leasing agent for the buildings.
VALLEY VIEW, TEXAS — Lee & Associates has negotiated the sale of a 20-acre industrial development site in Valley View, about 50 miles north of Fort Worth. The site has frontage along I-35. Jarrett Huge and Alex Wilson of Lee & Associates represented the undisclosed seller in the transaction. The buyer, which also requested anonymity, plans to develop an RV parking facility at the site.
TIFTON, GA. — Marcus & Millichap has brokered the $2.7 million sale of a 16,324-square-foot retail center located at 1898 W. U.S. Highway 82 in Tifton, a city situated along I-75 in South Georgia. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller and procured the private buyer. Both parties requested anonymity. The property’s tenant roster includes Little Caesar’s, Sally Beauty and Cricket Wireless. Walmart Supercenter, Rent-A-Center and Lowe’s Home Improvement shadow-anchor the property.
HOUSTON — Colliers has brokered the sale of Intercontinental Park III, an 89,820-square-foot office building in North Houston. The three-story building sits on 3.6 acres and was originally constructed in 1983, according to LoopNet Inc. David Carter of Colliers represented the seller, Greenspoint Property Management, in the transaction. Bill Ginder of Caldwell Cos. represented the buyer, an undisclosed private investor.