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Acquisitions

AcquisitionsGeorgiaRetailSoutheast

Divaris Arranges $18.4M Sale of Merchant’s Walk Shopping Center in Metro Richmond

by John Nelson

HENRICO, VA. — Divaris Real Estate has arranged the $18.4 million sale of Merchant’s Walk Shopping Center, a 219,972-square-foot retail center located at 7580 W. Broad St. in Henrico. Situated about 10 miles northwest of Richmond, Merchant’s Walk was 97 percent leased at the time of sale to 38 retailers, including anchors Food Lion, AutoZone and JoAnn Fabric and Craft. Local investment firm Qi Lin purchased the 20-acre property from the undisclosed seller. John Madures of Divaris represented the buyer in the transaction. Qi Lin has retained Divaris to lease Merchant’s Walk, which has two retail availabilities, as well as affiliate Divaris Property Management Corp. to operate the center.

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AcquisitionsGeorgiaHealthcareSoutheast

Bull Realty Brokers $5.9M Sale of Two-Property Medical Office Building Portfolio in Metro Atlanta

by John Nelson

DULUTH AND SUWANEE, GA. — Atlanta-based Bull Realty Inc. has brokered the $5.9 million sale of a two-property medical office building portfolio in metro Atlanta. The single-tenant assets, located at 3850 Pleasant Hill Drive in Duluth and 3770 Paddocks Parkway in Suwanee, were fully leased to Anne Arundel Dermatology at the time of sale. The buyer was a partnership between two entities doing business as GB Derm Medical LLC and Safe Harbour Exchange LLC. Paul Zeman of Bull Realty’s Healthcare Services Group represented the seller, an unnamed high-net-worth individual.

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 10,339 SF Retail Building in Frisco

by Taylor Williams

FRISCO, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of the 10,339-square-foot Building 2 at 3 Corners Plaza, a shopping center located north of Dallas in Frisco. Tenants at the center include Einstein Bros Bagels, Jersey Mikes, Clean Juice, SynergenX and Doner Kebab. Adam Gottschalk and Hudson Lambert of STRIVE represented the Texas-based seller and procured the California-based buyer, both of which requested anonymity, in the transaction.

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AcquisitionsNortheastPennsylvaniaRetail

Neuman Commercial Arranges Sale of 70,500 SF Shopping Center in Coatesville, Pennsylvania

by Taylor Williams

COATESVILLE, PA. — Regional brokerage firm Neuman Commercial Group has arranged the sale of Airport Village, a 70,500-square-foot shopping center in Coatesville, about 45 miles west of Philadelphia. The center sits on 10.7 acres and was 87 percent leased at the time of sale to tenants such as Aldi, Dollar Tree, Rite Aid, Burger King, Verizon Wireless and US Renal Care. Gil Neuman of Neuman Commercial Group represented the seller, New York-based Nassimi Realty, in the transaction and procured an undisclosed private investor as the buyer.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Brokers Sale-Leaseback of 66,786 SF Industrial Building in Morton Grove, Illinois

by Kristin Harlow

MORTON GROVE, ILL. — Entre Commercial Realty has brokered the sale-leaseback of a 66,786-square-foot industrial building in Morton Grove, a northern suburb of Chicago. Located at 5940 Oakton St., the property features four docks, four drive-in doors and a special use permit for an auto repair and body shop. Denise Chaimovitz of Entre brokered the transaction. Service King will continue leasing nearly 28,000 square feet, and the seller, Lin-Mar, will lease back roughly 39,000 square feet. Venture One Real Estate was the buyer.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Arranges $2.5M Sale of Thorntons-Occupied Property in Riverwoods, Illinois

by Kristin Harlow

RIVERWOODS, ILL. — Marcus & Millichap has arranged the $2.5 million sale of a 4,400-square-foot fuel station and convenience store occupied by Thorntons in Riverwoods, a northern suburb of Chicago. The newly constructed property is located at 1055 N. Milwaukee Ave. Thorntons recently signed a 20-year, absolute net ground lease. Nicholas Kanich of Marcus & Millichap represented the seller, a national real estate developer. The property sold to a Chicago-based private investor completing a 1031 exchange.

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AcquisitionsIllinoisMidwestMultifamily

Monarch Realty Partners Brokers Sale of 15-Unit Apartment Building in Chicago

by Kristin Harlow

CHICAGO — Monarch Realty Partners has brokered the sale of a 15-unit apartment building in Chicago’s far south Chicago Lawn neighborhood. Located at 2537 W. 63rd St., the property features two commercial spaces. Robert Berman of Monarch represented the long-term, local owner in the sale. The property sold to an out-of-state buyer for an undisclosed price.

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621-SW-Morrison-St-Portland-OR
AcquisitionsOfficeOregonRetailWestern

Menashe Properties Buys Historic American Bank Building in Portland, Oregon for $13.6M

by Amy Works

PORTLAND, ORE. — Portland-based Menashe Properties has acquired the American Bank Building, an office and retail building in Portland that on the National Register of Historic Places. The property traded for $13.6 million. Located at 621 SW Morrison St., American Bank Building features 183,735 square feet of office and retail space. Current tenants include CVS/pharmacy, Wells Fargo, Morgan Stanley and Greenleaf Juice Co. The property is adjacent to Pioneer Courthouse Square. Charles Safley of CBRE’s Pacific Northwest Capital Markets represented the undisclosed seller in the deal.

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1545-1565-La-Mirada-Dr-San-Marcos-CA
AcquisitionsCaliforniaIndustrialWestern

Stos Partners Sells 61,112 SF Industrial Complex in San Marcos, California for $12.5M

by Amy Works

SAN MARCOS, CALIF. — Stos Partners has completed the disposition of an industrial complex at 1545-1565 La Mirada Drive in San Marcos. A private investor acquired the 3.3-acre property for $12.5 million. The 61,112-square-foot building features 21 grade-level, roll-up doors; secured outdoor storage areas; multiple ingress/egress points; and minimal first-floor office space. Stos Partners implemented a value-add and capital improvement program to the asset, which it originally acquired in 2021 for $8.8 million. The renovations included a new roof, parking lot, exterior paint, drought resistant landscaping and signage. Matt Pourcho, Anthony Delorenzo and Matt Harris of CBRE, along with Chris Roth, Rusty Williams and Jake Rubendell of Lee & Associates, represented Stos Partners. Brant Aberg and Bryce Aberg of Cushman & Wakefield represented the undisclosed buyer in the transaction.

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La-Paloma-Apts-Las-Vegas-NV
AcquisitionsMultifamilyNevadaWestern

Northcap Commercial Arranges $2M Sale of La Paloma Apartments in Las Vegas

by Amy Works

LAS VEGAS — Northcap Commercial has arranged the off-market sale of La Paloma Apartments, a multifamily building in Las Vegas. The property traded for $2 million, or $117,647 per unit. Built in 1978, La Paloma Apartments features 17 residences. The property is located at 1509 E. Harmon Ave. Jerad Roberts, Devin Lee and Robin Willett of Northcap Commercial handled the transaction. The names of the buyer and seller were not released.

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