CHICAGO — Colliers has arranged the sale of seven retail properties and one industrial building in metro Chicago for $10.5 million. The sale represents the first part of a multi-phased transaction that encompasses 22 retail properties, three land sites and one industrial building. Peter Block and Rachel Patten of Colliers represented the seller, a family office. Indianapolis-based Arnold Meyer & Co. was the buyer. Block expects to close on the remaining properties in the portfolio this summer.
KANSAS CITY, MO. — Matthews Real Estate Investment Services has negotiated the sale of a portfolio of medical office buildings throughout metro Kansas City for an undisclosed price. Known as the Sabates Eye Centers Portfolio, the portfolio features five properties with 13 suites totaling 76,826 square feet and is 90 percent leased. Rahul Chhajed and Michael Moreno of Matthews represented the undisclosed seller. A private family office based in Ohio was the buyer.
DARIEN, ILL. — Mid-America Real Estate Corp. has brokered the sale of Darien Shopping Center in the western Chicago suburb of Darien for an undisclosed price. The 46,582-square-foot retail center is fully leased to tenants such as American Freight, Concentra Urgent Care, Chuck E. Cheese and World Star Nails & Spa. Jewel-Osco shadow anchors the property. Emily Gadomski and Rick Drogosz of Mid-America represented the private seller. The asset sold to a local private buyer.
WOODBRIDGE, N.J. — Marcus & Millichap has brokered the $11 million sale of a gas station and convenience mart in the Northern New Jersey community of Woodbridge. The property totals 4,453 square feet and is net leased to QuickChek. Justin Natalizio and Eric Anton of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
IRVINE, CALIF. — Irvine-based Gantry has secured $40 million in acquisition financing for four separate purchases of self-storage properties in Tennessee and Florida. Totaling 286,000 rentable square feet, the properties include three Storelocal Self Storage properties in Franklin and Spring Hill, Tenn., and a U.S. Storage Center facility in Tampa. Andy Bratt and Amit Tyagi of Gantry arranged the fixed-rate loans through separate life insurance companies on behalf of the borrower, a multi-generational private family that is buying the properties in a 1031 exchange. Two of the loans were bridge loans and two were permanent loans.
CLEARWATER, FLA. — Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties Ltd., has brokered the $19.6 million sale of an eight-story office building in Clearwater. Gary Goodgame, Jeremy Dee and Max Browne of Kennedy Wilson Brokerage represented the seller, Mercury Casualty Co. (i.e. Mercury Insurance), in the transaction. Convergent Capital Partners, a Tampa-based investment group, is the buyer and is planning to make renovations to the property. Located at 1901 Ulmerton Road, the 157,000-square-foot building is located on a 7.3-acre site in Clearwater’s Feather Sound area and features a gym, café and five-story parking garage. The building was delivered in 1999 and currently has approximately 100,000 square feet available for lease. K.C. Tenukas, Kristin Kenney and Nick Baldwin of CBRE will be marketing the building for lease on behalf of Convergent Capital.
TEMPE, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of and financing for The Gallery, an 88-unit apartment community in Tempe. Living Well Homes sold the property to RSN Property Group for $20.3 million. The Gallery is a two-story, 13-building property built in 1972 on approximately four acres. Amenities include a pool, fitness center and laundry facility. Apartment features include private patios or balconies. The two- and three-bedroom floor plans average 1,013 square feet in size. Cliff David and Steve Gebing, both executive managing directors with IPA, along with Marcus & Millichap’s Paul Bay and Darrell Moffitt, represented the seller and procured the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson led the IPA capital markets team.
FLAGSTAFF, ARIZ. — Faris Lee Investments has arranged the $23.5 million sale of The Marketplace, a 268,000-square-foot shopping center in Flagstaff. Tenants at the property include Petco, Best Buy, World Market, Marshall’s, Old Navy and Bealls Outlet. Don MacLellan, Jeff Conover and Scott DeYoung of Faris Lee represented the seller, Macerich, in the all-cash transaction. A California-based 1031 investor purchased the property.
RIVERSIDE, CALIF. — Clarion Partners has provided a has provided a mezzanine loan that’s part of the acquisition financing package collateralized by an industrial building in Riverside. An affiliate of Societe Generale arranged the $10 million mezzanine loan subordinate to a $70 million senior loan. The Class A, 600,000-square-foot facility is fully leased and serves as the headquarters for a third-party logistics provider.
IRVINE, CALIF. — Premier Workspaces has taken over a co-working location at 100 Spectrum Center Drive in the Irvine Spectrum area. Formerly a Carr Workplaces, this 24,200-square-foot location offers ninth-floor views, 87 private offices, three serviced meeting rooms, an on-demand office and a common area lounge with on-site hospitality staff. This latest transaction expands Premier Workspace’s footprint in Irvine to more than 233,000 square feet across 10 locations.
