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Acquisitions

7300-E-Hampton-Ave-Mesa-AZ
AcquisitionsArizonaIndustrialWestern

KoMiCo Acquires 125,000 SF Manufacturing Facility in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Austin, Texas-based KoMiCo Phoenix LLC, a company that offers semiconductor cleaning and coating services, has purchased a manufacturing facility at 7300 E. Hampton Ave. in Mesa. Tempe-based 7300 East Hampton LLC sold the property for $17.5 million. KoMiCo will redevelop the 125,000-square-foot facility into an advanced semiconductor equipment parts cleaning, coating and repair facility in the Superstition Springs area of the Southeast Valley. The facility, which is situated on 12.5 acres, is slated to be operational by 2026. Representing a more than $50 million in capital investments, the building will be KoMiCo’s third location in the United States and eighth globally. Rick Foss, Isy Sonabend and Drew Eisen of NAI Horizon represented the buyer, while Lee & Associates represented the seller in the transaction.

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AcquisitionsNew JerseyNortheastRetail

Graystone Capital Advisors Arranges Sale of 34,177 SF Shopping Center in Rockaway, New Jersey

by Taylor Williams

ROCKAWAY, N.J. — California-based brokerage firm Graystone Capital Advisors has arranged the sale of a 34,177-square-foot shopping center in the Northern New Jersey community of Rockaway. Tractor Supply Co. anchors the center, which according to LoopNet Inc. was originally built in 1980. A developer based in the Southeast sold the property to a local institutional investor for $7.2 million, with both parties requesting anonymity. Julius Swolsky and Shannon Bona of Graystone brokered the deal.

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17101-Armstrong-Irvine-CA
AcquisitionsCaliforniaOfficeWestern

RGP Sells 57,301 SF Office Building in Irvine, California to Municipal Owner-User

by Amy Works

IRVINE, CALIF. — RGP has completed the disposition of 17101 Armstrong, an office building in the Orange County city of Irvine. A municipal owner-user purchased the asset for $13 million. The two-story, low-rise building features 57,301 square feet of office space and 167 parking stalls. The property was built in 1982 on 2.4 acres. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Carter Haslam of CBRE represented the seller in the deal.

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9606-Aero-Dr-San-Diego-CA
AcquisitionsCaliforniaIndustrialOfficeWestern

RPG, Steel Peak Purchase San Diego Office Property for $12.1M, Plan Industrial Outdoor Storage Conversion

by Amy Works

SAN DIEGO — A joint venture between RPG and Steel Peak has acquired 9606 Aero Drive, a 38,704-square-foot flex office property in San Diego. Total consideration for the acquisition was $12.1 million, which the joint venture’s institutional equity partner supported. The undisclosed seller will continue to occupy the asset as its headquarters through 2025 as part of a leaseback agreement. Situated on 4.2 acres, the asset includes existing office space and a vacated data center that will be converted into warehouse space with multiple grade-level loading doors, creating a Class A industrial outdoor storage facility. Additional improvements to the property will include fencing, lighting and paving. Kurtis Blanchard and Evan McDonald of Colliers represented the buyers in the deal.

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1506-Gibson-Ave-Ogden-UT
AcquisitionsIndustrialSelf-StorageUtahWestern

Marcus & Millichap Arranges Sale of 64,500 SF Vault Storage Facility in Ogden, Utah

by Amy Works

OGDEN, UTAH — The LeClaire-Schlosser Group of Marcus & Millichap has negotiated the sale of Vault Storage, a storage facility in Ogden, approximately 35 miles north of Salt Lake City. Mountain West Self-Storage acquired the asset from the original developer for an undisclosed price. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group represented the seller in the deal. Located at 1506 Gibson Ave., Vault Storage consists of eight one-story buildings offering a total of 371 climate-controlled and non-climate-controlled units. The facility has all metal buildings, metal interior walls, standing seam metal roofs, roll-up doors and asphalt driveways.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $12.4M Sale of Retail Portfolio in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — Marcus & Millichap has brokered the $12.4 million sale of a three-building retail portfolio in Mount Prospect, about 20 miles northwest of downtown Chicago. The assets serve as outparcels to Randhurst Village, a Costco-anchored shopping mall. The first property at 102 E. Kensington Road is home to Chipotle, Five Guys, Jersey Mike’s, Sports Clips and T-Mobile. The second, at 1065 Emhurst Road, features GNC, Panera Bread and Nothing Bundt Cakes. The third property, located at 1027 Randhurst Village, is home to Hangry Joe’s, MOD Pizza and Poke Bros. Built in 2012, the buildings occupy a combined 3.6 acres. Jeff Rowlett and Matthew Gordon of Marcus & Millichap procured the buyer, Lula Holdings, a Wisconsin-based limited liability partnership. Maggie Holmes of Northmarq represented the seller, RREF III-P Randhurst Village, a Delaware-based limited liability company. Steven Weinstock, broker of record in Illinois, assisted in closing the transaction. Michael Hughes of Marcus & Millichap Capital Corp. arranged $6.4 million in acquisition financing through US Bank.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Negotiates $4.3M Sale of Multifamily Portfolio in Suburban Chicago

by Kristin Harlow

MOUNT PROSPECT, ILL. — Interra Realty has negotiated the sale of a five-building, 30-unit multifamily portfolio in the Chicago suburb of Mount Prospect for $4.3 million. The properties sold to local buyers in two separate deals. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the undisclosed seller. Hubert Cioromski of Troy Realty represented the buyer of three buildings, while Nader Shahat of Green Equities LLC represented the buyer of the other two buildings. Constructed in 1978, the three-story buildings each contain six units in a mix of one- and two-bedroom layouts. Most of the units include individual balconies and were recently renovated with updated kitchens and baths. They were fully occupied at the time of sale.

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AcquisitionsMichiganMidwestRetail

Boulder Group Arranges $3.5M Sale of Caliber Collision-Occupied Retail Property in Mount Pleasant, Michigan

by Kristin Harlow

MOUNT PLEASANT, MICH. — The Boulder Group has arranged the $3.5 million sale of a single-tenant retail property net leased to Caliber Collision in Mount Pleasant within central Michigan. The property at 1005 Corporate Drive features a newly renovated, 15,800-square-foot automotive building on two acres. Caliber Collision maintains a 15-year lease. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, an Iowa-based corporation. The seller was a Delaware-based limited liability company.

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AcquisitionsHealthcareIllinoisMidwest

AXIS 360 Brokers $1.5M Sale of Healthcare Development Site in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the $1.5 million sale of a 4.7-acre commercial lot on Towanda Barnes Road in Bloomington. Laura Pritts of AXIS 360 represented the undisclosed seller. Joseph & Camper Commercial represented the buyer, which plans to develop the property into medical-related use. The site is located between the Parke Regency Hotel and Conference Center and Compeer Financial.

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Advance-Auto-Parts_Kinston
AcquisitionsCompany NewsDistrict of ColumbiaIndustrialNorth CarolinaRetailSoutheastTop Stories

Advance Auto Parts Agrees to Sell Worldpac Distribution Business to Carlyle for $1.5B

by Katie Sloan

RALEIGH, N.C. AND WASHINGTON, D.C. — Advance Auto Parts Inc. (NYSE: AAP) has agreed to sell Worldpac, the Raleigh-based company’s automotive parts wholesale distribution business, to funds managed by global investment firm Carlyle (NASDAQ: CG) for $1.5 billion in cash.  Advance Auto Parts operated 321 Worldpac locations primarily within the United States as of the end of the second quarter. These warehouses, 135 of which are branded Autopart International, are generally larger than the company’s retail locations, averaging approximately 26,000 square feet. Worldpac offers over 293,000 parts for domestic and import vehicles and primarily serves professional customers such as vehicle repair shops, with services including same-day delivery of automotive parts through a fleet of company-owned vehicles. Over the past 12 months, these locations generated approximately $2.1 billion in revenue and $100 million in earnings before interest, taxes, depreciation and amortization (EBITDA). Advance expects to close the transaction before the end of the year, with Advance expecting net proceeds of approximately $1.2 billion after taxes and transaction fees.  These proceeds will be used to strengthen the company’s balance sheet and invest in its core retail business, said Shane O’Kelly, president and CEO of Advance Auto Parts, during an earnings call earlier …

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