WOODBURY, MINN. — Marcus & Millichap has arranged the sale of the La Quinta Inn & Suites St. Paul-Woodbury for an undisclosed price. The 108-room, newly built hotel is located at 700 Bielenberg Drive in the Twin Cities suburb of Woodbury. Jon Ruzicka, Jared Plamann, Jake Erickson and Joseph Ferguson of Marcus & Millichap represented the buyer and seller, both of which requested anonymity.
MCHENRY, ILL. — Entre Commercial Realty has brokered the sale of a 56,254-square-foot industrial building located at 4610 Prime Parkway in McHenry, about 50 miles northwest of Chicago. The property had been on the market for more than two years before the owner engaged Entre to evaluate and handle the sale. The building was extremely specialized as a prior owner had outfitted a significant portion of the interior with a two-story production mezzanine. According to Entre, it became evident that the layout was too specialized for most of today’s users in search of higher cube warehouse space, lower office ratios and extra land. Entre engaged with an architectural firm, structural engineer and construction company to evaluate the feasibility and cost to remove the partially structural mezzanine and restore the building to a more generic warehouse-type building that would meet today’s user demand. Entre identified that the property could be transformed back into a smaller 42,000-square-fot building with a two-acre land parcel for parking or outdoor storage. After the property was relaunched to the market, it sold to Viper Holdings, which provides scissors and boom lifts to the construction industry. Entre’s Dan Jones, Dan Benassi and Sam Deihs represented the undisclosed …
ATCHISON, KAN. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of Atchison Senior Village Rehabilitation and Nursing Center, a 45-bed skilled nursing facility in Atchison, located along the Missouri river about 45 miles northwest of Kansas City. The purchase price and seller were undisclosed. A subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, acquired the real estate. Gateway Healthcare, Ensign’s Kansas-based subsidiary, will handle operations. Ensign’s portfolio totals 302 healthcare operations, 27 of which also include senior living operations, across 14 states.
PHOENIX — California-based IDEAL Capital Group has acquired Sentio, a multifamily property in North Phoenix, from Hines for $108 million. Completed in 2023, Sentio features 325 open-concept floorplans with top-of-market unit interiors. The Class A property offers smart-home technology; energy-efficient appliances and window treatments; sustainability-focused construction; high-end finishes; interconnected, resident-centric amenity spaces; and walking paths. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Greon of CBRE represented the seller in the deal. Trevor Breaux, Troy Tegeler and Ryan Greer of CBRE Debt & Structured Finance arranged financing for the buyer.
PORTLAND, ORE. — Ziegler, as exclusive financial advisor to the seller, has arranged the acquisition of Parkview Christian Retirement Community in Portland. Founded by members of the Columbia Baptist churches, the nonprofit Oregon Baptist Retirement Home Society opened its doors in 1944. The community expanded several times over the next 40 years. In 1987, the organization moved to its current location in northeast Portland and expanded again 10 years later. Today, the campus consists of 115 rental independent living apartments and 62 assisted living units spread over approximately six acres of land. The buyer is a for-profit owner-operator. The price was not disclosed. The Ziegler investment banking team included Humair Sabir, Stephen Johnson, Marie Carlson, and Ryan Anders.
AURORA, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Plaza West at Aurora Town Center, a 94,949-square-foot retail center in the Denver suburb of Aurora. The Colorado- and California-based sellers sold the asset to a Colorado-based investment group for $8 million. Situated on 7.8 acres at 13670 E. Alameda Ave., Plaza West at Aurora Town Center was 65 percent occupied at the time of sale. The property consists of a shopping center, which was built in 1985, anchored by Dollar Tree and Harbor Freight Tools, and a freestanding drive-thru building built in 2021 and occupied by Starbucks Coffee. Justin Krieger of Pinnacle Real Estate Advisors handled the transaction.
HERCULES, CALIF. — Multiple Organics has completed the disposition of a warehouse and cold storage facility, located at 200 Linus Pauling Drive in the Bay Area city of Hercules. A Sutter Health entity acquired the asset for an undisclosed price. The 49,805-square-foot property features 7,700 square feet of office space, six dock doors, four grade-level doors, 22-foot clear heights, 2,000 amps of power and 8,000 square feet of cooler space. Kevin Hatcher and Austin Hinder of CBRE represented the seller in the transaction.
ROCKINGHAM, N.C. — IPA, a division of Marcus & Millichap, has brokered the $12.7 million sale of Richmond Plaza, a 202,504-square-foot retail center in Rockingham. Ross Dress for Less, Planet Fitness, Belk and Burkes Outlet anchor the property, which is located about 70 miles east of Charlotte. Other tenants include Dunkin’ and Hibbett Sports. Zach Taylor of IPA arranged the transaction on behalf of the seller, CF Smith Property Group, and secured the buyer, Florida-based Coastal Equities. “This sale marks the culmination of a very successful repositioning by the sellers, who replaced JC Penney, Save-A-Lot and a movie theater with Burkes Outlet, Ross Dress for Less and Planet Fitness, respectively,” says Taylor.
FORT WORTH, TEXAS — Texas-based investment firm Stonelake Capital Partners has purchased a 119,995-square-foot distribution facility in Fort Worth. The building at 4400 Diplomacy Drive, which was fully leased at the time of sale to Litex Industries, is located just south of DFW International Airport in the central part of the metroplex. Jim Carpenter, Jud Clements, Robby Rieke and Madeleine Supplee of Cushman & Wakefield represented the undisclosed seller in the transaction. Coleman Brown, Michael Massad, Will Thomas and Keontae Burns represented Stonelake on an internal basis.
HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 19,259-square-foot industrial building in northwest Houston. The building at 6606 Gessner Road sits on 1.5 acres and includes outdoor storage space. Jason Gibbons and Christian Villarreal of Final Group represented the seller in the transaction. Christy Bowen of Fox & Graham Real Estate represented the buyer. Both parties requested anonymity.
