BARSTOW, CALIF. — Marcus & Millichap has arranged the sale of Comfort Suites Barstow, a hotel in the Mojave Desert city of Barstow. A limited liability company sold the asset to an individual trust for $11.5 million. Located at 2571 Fisher Blvd., Comfort Suites Barstow offers 83 guest rooms. Andy Patel and Gordon Allred of Marcus & Millichap represented the seller and procured the buyer in the transaction.
DENVER — NorthPeak Commercial Advisors has arranged the sale of an apartment building located at 1335 N. Gaylord St. in Denver. The asset traded for $3.9 million, or $227,941 per unit. The 9,936-square-foot property features 17 apartments. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the undisclosed seller, while Greg Johnson and Conner Pieretti of NorthPeak Commercial Advisors represented the undisclosed buyer in the deal.
FORT WORTH, TEXAS — Vanguard Real Estate Advisors (VREA), a Dallas-based brokerage firm, has arranged the sale of CoHo Apartments, a 54-unit multifamily building in Fort Worth’s Near Southside neighborhood. CoHo Apartments exclusively offers studio apartments. Amenities include a rooftop deck, resident lounge, dog run and a gaming lounge. Jordan Cortez, Mason John, Haley Birmingham, and Will Droese of VREA represented the seller, Watermark Cos., in the transaction. The buyer and sales price were not disclosed.
LOWELL, IND. — John Deere has purchased 234 acres of land in Lowell, a city in northwest Indiana, for $7 million. The company plans to build a 1.2 million-square-foot warehouse and distribution facility. Nancy Frigo and Nicholas Smith of Coldwell Banker Commercial Realty represented the seller, Hallmark Construction Co. Venture One will serve as the developer for the project, which is expected to create approximately 1,200 union construction jobs and 400 to 500 permanent positions upon completion. The project site, located at the southwest corner of I-65 South and Route 2, has gas, sewer and water availability.
PONTIAC, MICH. — The Jonna Group of Colliers Detroit has arranged the sale of a 92,509-square-foot retail property located at 600 N. Telegraph Road in Pontiac for an undisclosed price. Simon Jonna and Raymond Jonna of the brokerage firm represented the seller, a property management company from New York. The new owner, CNS Healthcare, is currently leasing the retail space to Value World Inc. and Harbor Freight Tools USA Inc.
JEFFERSON CITY, MO. — Marcus & Millichap has negotiated the $4.2 million sale of a 14,820-square-foot retail property occupied by Walgreens in Jefferson City. The net-leased building, constructed in 2010, is located at 900 Eastland Drive. Nicholas Kanich and Mitch Grant of Marcus & Millichap represented the seller, an investor from Kansas City. A local broker procured the buyer, a local group completing a 1031 exchange. Walgreens has operated at the property for more than 14 years and has over 10 years remaining on its lease. Neighboring retailers include Gerbes Supermarket, Dollar General, McDonald’s and Taco Bell.
FARMINGTON AND CANTON, ILL. — Newmark has brokered the $1.6 million sale of a self-storage portfolio in Farmington and Canton, about 25 miles west of Peoria. The four-building portfolio totals 35,650 square feet and includes a primary facility as well as three satellite buildings. Kris Parker of Newmark represented the seller, Simple Self Storage LLC, and the buyer, Prime Space Storage LLC.
LA PORTE, TEXAS — Colliers has brokered the sale of an 8,400-square-foot warehouse in La Porte, an eastern suburb of Houston. The building sits on a 0.8-acre site at 10819 Fairmont Parkway and was constructed in 1999. Mike Taetz, Todd Moore and Connor Duffy of Colliers represented the undisclosed seller in the transaction. The buyer was also not disclosed.
GLASSBORO, N.J. — Marcus & Millichap has brokered the $3.4 million sale of a 21,750-square-foot retail building in Glassboro, about 25 miles south of Philadelphia. The property is located on the campus of Rowan University at the base of the Whitney Center, a five-story student housing complex. At the time of sale, the property was 93 percent leased to 10 tenants, including 7-Eleven and Pizza Hut. Alan Cafiero, Brent Hyldahl, Seth Goldberg and Brad Nathanson of Marcus & Millichap represented the seller, Kinsley Properties LLC, and procured the buyer, JJU Properties LLC.
PHOENIX — CBRE has arranged the sale of The Blake, a multifamily community currently under development in Phoenix. A venture between StreetLights Residential and an affiliate of RED Development sold the asset to a venture between RXR and Korman Communities for an undisclosed price. Slated for completion in early 2025, The Blake will offer 400 apartments featuring 10-foot ceilings with coves in the living rooms; wood-style flooring in living areas and bedrooms; tile flooring in bathrooms; both granite and quartz countertop design options in bathrooms; walk-in closets; washers/dryers; energy-efficient stainless steel appliances; custom cabinetry and hardware; and Sonos speaker systems in all units. Community amenities will include a clubhouse with library, dining room, coffee bar, conference rooms, co-working stations and TV seating areas. The private resident bar includes a roll-up window leading to outdoor seating around a resort-style pool and spa area with cabanas, fire features, televisions, barbecue grills and dining areas. The Blake is part of the mixed-use project being developed on the former Paradise Valley Mall site. Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen of CBRE represented the sellers in the transaction.
