HOUSTON — Alterra IOS has acquired a 9.7-acre industrial outdoor storage facility (IOS) located at 9605 Galveston Road in southeast Houston. The property houses three buildings totaling 31,000 square feet that are currently vacant. According to Crexi, the buildings feature 18- to 21-foot clear heights, office and showroom space and four grade-level loading doors. The seller and sales price were not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $9.3 million sale of The West, a 22-unit apartment building located at 144 West St. in Brooklyn. The building was completed in 2021 and offers one- and two-bedroom units and amenities such as a package room, urban garden, lounge with a bar and a rooftop deck. Shaun Riney, Michael Salvatico and Samuel Leppo of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, private investor Chesky Landau.
NOVI, MICH. — Marcus & Millichap has brokered the $9.3 million sale of Infinity Medical, a 36,338-square-foot medical office building in Novi. The two-story property is fully leased to Rehabilitation Physicians PC and Ascension Medical Group of Michigan. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the buyer and seller in partnership with Scott Marcus of RSM Development. The asset sold to Nova Sky Investments LLC, a Michigan-based investment firm.
MASSILLON, OHIO — Axiom Realty has acquired Amherst Shopping Center, a 98,305-square-foot property in Massillon near Canton. The purchase price and seller were undisclosed. The center was 64 percent occupied at the time of sale. Jonah Warsaw and Jacob Baruch of Legacy Realty Group Advisors brokered the sale. Axiom is finalizing lease negotiations with a national fitness user that will bring occupancy up to 81 percent. Marc’s, a discount grocery and drug store chain with 60 locations in Ohio, has anchored the property since 1995.
SAN DIEGO — Decron Properties has acquired Mira Mesa Market West Shopping Center in San Diego’s Mira Mesa submarket from Stockbridge Capital Group for $99 million. The acquisition included the assumption of the existing financing with New York Life Insurance Co., which allowed for the assumption of a below-market interest rate of 3.5 percent fixed for the remaining loan term. Built in 2000, the fully leased Mira Mesa Market West features 238,747 square feet of retail space. Current tenants include The Home Depot, Smart & Final, CVS/pharmacy, Dave’s Hot Chicken, Rubio’s Baja Grill, Starbucks Coffee, Jersey Mike’s Subs, Verizon Wireless, PNC and Lazy Dog restaurant. The property is situated on 20.2 acres at 10604 Westview Parkway. This is the first acquisition since 2008 for Decron, which owns and manages approximately 600,000 square feet of additional retail assets and nearly 10,000 multifamily units in California, Washington and Arizona.
PHOENIX — Cushman & Wakefield has arranged the sale of leasehold interest in Sky Harbor Center, an office campus on 37 acres in Phoenix. A private investment partnership acquired the asset for $44.3 million. Located at 825 Buckeye, Sky Harbor Center consists of five two- and three-story buildings offering a total of 534,849 square feet. The campus features a fully renovated café, coffee/juice bar, conference center and outdoor areas for seating and events, as well as surface and parking options. Bank of America has occupied the five office buildings since 1989. The ground lessor is the City of Phoenix. Steve Lindley and Alexandra Loye of Cushman & Wakefield, along with Will Strong and Molly Hunt of the firm’s National Industrial Advisory Group – Mountain West and Eric Wichterman and Mike Coover of the firm’s Private Capital Group, represented the seller in the transaction. Cushman & Wakefield’s Jerry Roberts and Pat Boyle provided leasing advisory for the property.
DENVER — Malman Commercial Real Estate has arranged the sale of 11100 E. 51st Avenue in Denver. GS 51st LLC, a Colorado limited liability company, sold the property to Las Vegas Lucky Investment LLC, a Nevada limited liability company, for $10.7 million, or $178.51 per square foot. Pioneer Interests, a multi-state institutional cannabis operator, fully occupies the 59,940-square-foot industrial building. Situated on 1.5 acres, the building is zoned I-B and offers heavy power and ample parking. Jake Malman of Malman Commercial represented the seller, while Jun Zhou of Centaline Investment Inc. represented the buyer in the deal.
RANCHO CORDOVA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $4.8 million sale of Shops III at Anatolia Marketplace, a multi-tenant retail pad in Rancho Cordova, roughly 13 miles east of Sacramento. Tenants at the property, which totals 5,900 square feet, include Popeyes Louisiana Kitchen, Cold Stone Creamery, Jamba and Capriotti’s Sandwich Shop. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC. Craig Lewis of Lewis Capital Advisors represented the buyer, a local private investor.
CAMPBELL, CALIF. — Marcus & Millichap, on behalf of an individual/personal trust, has brokered the $1.8 million sale of a retail property in Campbell, a suburb of San Jose. Located at 2615 S. Bascom Ave. and 835 Union Ave., the property offers 5,896 square feet of multi-tenant retail space and ample parking. Yuri Sergunin and J.J. Taughinbaugh of Marcus & Millichap’s Palo Alto office represented the seller in the deal. The name of the buyer was not released.
CHICAGO — A joint venture between The Prime Group Inc. and CRG, the development and investment management arm of Clayco, has acquired the 40-story historic Jewelers Building in Chicago. Located at 35 E. Wacker Drive, the Jewelers Building comprises 556,200 square feet of rentable office space. The building is currently 70 percent occupied. Designed by Giaver & Dinkelber, the Jewelers Building was originally built in 1926. At the time of its completion, it was the tallest building west of New York City. The building is recognized by the National Register of Historic Places. Chicago-based architecture firm Goettsch Partners recently renovated the lobby, main entry and storefronts at the property. The price was not disclosed. According to CoStar, the price was expected to be more than $70 per square foot, which would equate to approximately $39 million. However, those numbers were based on Prime’s original offer in November before CRG was brought in as a partner. The previous owner had defaulted on over $50 million in debt on the building, according to multiple sources, leading to the sale. Although Prime Group’s initial plans for the property in November called for a potential hotel conversion, that concept has apparently been sidelined. As an existing tenant …