SAN DIEGO — CES Remington has acquired Aerofund Financial Plaza, a multi-tenant office building situated on 1.3 acres in San Diego’s Mission Valley neighborhood, for $9.8 million. The seller was not disclosed. Located at 4025 Camino del Rio S., the three-story, u-shaped building offers 48,571 square feet of space. At the time of sale, the property was fully leased to nine tenants across a diversified mix of industries and sizes. Jeffrey Cole, Nico Napolitano, Mark Avilla and Brooks Campbell of Cushman & Wakefield’s capital markets and private capital groups in Southern California collaborated to represent the seller, while Brandon Keith of Voit Real Estate Services represented the buyer in the deal.
Acquisitions
MERCED, CALIF. — Matthews Real Estate Investment Services has arranged the sale of 3110 R Street, a retail strip center in the San Joaquin Valley city of Merced. The asset traded for $5.8 million, or $828 per square foot. The retail center is occupied by corporate-guaranteed tenants, with Chipotle and Panera Bread occupying the end-cap storefronts. Chipotle recently extended its lease for an additional 10 years. Clay Smith of Matthews represented the seller in the transaction.
Cushman & Wakefield | PICOR Brokers Sale of 40,078 SF Industrial Space in Tucson, Arizona
by Amy Works
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of 40,078 square feet of industrial space at 2106 N. Forbes Blvd. in Tucson. North Forbes LLC sold the asset to Block “C” Properties LLC for $3.9 million. Stephen Cohen of Cushman & Wakefield | PICOR represented both parties in the transaction.
Kauhale Health Acquires 66,765 SF The Parker Assisted Living Community in Greenville, South Carolina
GREENVILLE, S.C. — Kauhale Health has acquired The Parker, a 66,765-square-foot assisted living and memory care facility located in the Pettigru Historic District, roughly one mile outside downtown Greenville. Comprising 75 assisted living and 17 memory care private suites, the property will be rebranded as Kauhale Pettigru. Amenities at the facility, which is 100 percent private pay, include common dining areas, private dining, a beauty salon, community room, game room, parlor room, theater, gardens, patios and multiple walking paths. A subordinate of Kauhale Health will operate the community, with Kauhale Healthcare Management managing the facility. Built in 2001 on 3.5 acres, the property recently underwent renovations to the common areas and one-third of the residential units.
MONROE, LA.— Marcus & Millichap has brokered the $10.5 million sale of The Plaza One Shopping Center, a retail center located at 2810 Louisville Ave. in Monroe. Super 1 Foods anchors the property, which totals 96,765 square feet. The center was fully leased at the time of sale. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller, a Texas-based private investor, in the transaction. Steve Greer assisted in closing the sale as the Louisiana broker of record.
JACKSONVILLE, FLA. — NAI Hallmark has brokered the $4.1 million sale of 8014 Bayberry Road, an office property in Jacksonville. Built in 1978 and renovated in 2007, the building totals 32,781 square feet. Petticoat Schmitt Civil Contractors acquired the property, which features web-based HVAC controls, access-point badge reading technology, interior and exterior camera systems and an uninterruptible power supply (UPS) system with a 175-Kilowatt back-up diesel generator. Daniel Burkhardt of NAI Hallmark represented the seller, Bayberry Wells Leasing, in the transaction.
PORTAGE, WIS. — Brisky Net Lease has brokered the $3.6 million sale of a Festival Foods-occupied retail property in Portage, a city in central Wisconsin. The single-tenant, net-leased grocery asset is located at 2915 New Pinery Road along US Highway 51. Brian Brisky of Brisky Net Lease represented the seller, a REIT. The buyer was also a REIT. Festival Foods, a family-owned company, operates roughly 40 locations in Wisconsin.
BKM Capital Partners Sells 156,154 SF Broadwood Business Centre in Mesa, Arizona for $32.9M
by Amy Works
MESA, ARIZ. — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Broadwood Business Centre, a multi-tenant light industrial property in Mesa. A joint venture between Bendetii and Westport Capital Partners acquired the asset for $32.9 million. Originally built in mid-1980s and extensively renovated to be competitive in the upper tier of business parks, Broadwood Business Centre features 156,154 square feet of space spread across eight freestanding buildings at 2452 W. Birchwood Ave. and three multi-tenant buildings at 2450 W. Broadway Ave. and 2451 W. Birchwood Ave. At the time of sale, the property was fully leased. The industrial park can accommodate a broad range of user types, including showroom users, quasi retailers, manufacturers and distributors. Bob Buckley and Tracy Cartledge of Cushman & Wakefield Capital Markets, along with Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield National Industrial Advisory Group – Mountain West, represented the seller in the deal.
MCKINNEY, TEXAS — Marcus & Millichap has brokered the sale of Prosper Self Storage, a 460-unit facility located north of Dallas in McKinney. The facility was originally built in 2009 and spans 72,147 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a Dallas-based investor, in the transaction. The duo also procured the buyer, a publicly traded REIT. Both parties requested anonymity. The sales price was not disclosed.
IRA Capital Buys 253-Unit Quail Park of Lynnwood Seniors Housing Community in Washington
by Amy Works
LYNNWOOD, WASH. — IRA Capital, a California-based private equity firm, has acquired Quail Park of Lynnwood, a 253-unit, Class A property in the Seattle suburb of Lynnwood. Quail Park is spread across 15 acres and was developed in two phases in 2013 and 2020. The property offers independent living, assisted living, “enhanced assisted living” and memory care. IRA made the acquisition in an all-cash deal alongside an institutional joint-venture partner. The new owners plan to invest in updates to common areas and amenities. The seller and price were not disclosed.