PEACHTREE CITY, GA. — Northmarq has arranged the $15.2 million sale of Westpark Walk, a 73,847-square-foot shopping center located at 400 Commerce Drive in Peachtree City, a southwest suburb of Atlanta. Jeff Enck and Emery Shane of Northmarq represented the seller, an unnamed private investment firm based in Washington, D.C. The buyer was an undisclosed partnership based in Atlanta. Westpark Walk was fully leased at the time of sale to 21 tenants, including Tuesday Morning, Verizon Wireless, State Farm, Firehouse Subs, Hotworx and local service providers and retailers, including Ranchero Mexican Grill, which has been a tenant at the shopping center for more than 33 years.
EAST ORANGE, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has negotiated the $5.1 million sale of a 42-unit apartment building in the Northern New Jersey community of East Orange. The historic building at 17 Summit St. was originally constructed in 1926 and offers 35 one-bedroom units and seven two-bedroom residences. David Oropeza of Gebroe-Hammer represented the seller, a limited liability company, in the transaction. Oropeza also procured the buyer, a private investor. Both parties requested anonymity.
TOTOWA, N.J. — Maryland-based investment firm Realterm has acquired a three-acre industrial outdoor storage facility in the Northern New Jersey community of Totowa. The site at 20 Jackson Road houses a 6,960-square-foot warehouse, and the new ownership plans to upgrade this facility and its surrounding infrastructure. Torsten Thaler, Steve Shoemaker and Tom Tucci of Cushman & Wakefield represented Realterm in the transaction. The seller and sales price were not disclosed.
DOWNERS GROVE, ILL. — Marcus & Millichap has brokered the $2.3 million sale of a BP-occupied gas station property in the Chicago suburb of Downers Grove. The asset is located at 2231 Maple Ave. just east of Highway 355. Timothy Nichols, Nicholas Kanich and Mitch Grant of Marcus & Millichap represented the seller, a locally based limited liability company. Nichols secured the buyer, also a locally based limited liability company.
SIMI VALLEY, CALIF. — Griffin Living has completed the disposition of Griffin Plaza, a shopping center located at 3885-3977 Cochran St. in Simi Valley. A private 1031 exchange investor acquired the asset for $22.1 million. Built in 1981 and renovated in 2019, Griffin Plaza features 85,022 square feet of retail space. At the time of sale, the property was 94 percent occupied. Current tenants include Aldi, CVS/pharmacy, Wendy’s and Varenita Assisted Living Community, a 102-unit seniors housing property located within Griffin Plaza. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Retail Capital Markets representd the seller in the deal.
PEORIA, ARIZ. — Toronto-based Sun Valley Hotels LLC has acquired La Quinta Inn & Suites at 16321 N. 83rd Ave. in Peoria. The name of the seller and acquisition price were not released. The hotel features 108 guest rooms, a heated outdoor pool, fitness center and Wi-Fi. Bill Murney of Cushman & Wakefield’s Hospitality team in Phoenix represented the seller in the deal.
ORANGE, CALIF. — MCA Realty has completed the disposition of Struck Business Park, a two-building industrial park in Orange, to a private investor for $13.5 million. MCA Realty originally acquired the asset for $9.4 million in August 2021. Located at 1523 and 1547 W. Struck Ave., Struck Business Park features 42,750 square feet of industrial space. At the time of sale, the property was 100 percent leased. The asset was built in 1976. Michael Hefner, Hayden Socci and Tom Terry of Voit Real Estate Services represented the seller, while Michael Vernick of Voit Real Estate Services represented the buyer in the deal.
AMARILLO, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of an 84-unit facility in the northwest Texas city of Amarillo. The facility spans 36,000 net rentable square feet across 72 traditional storage units and 12 parking/outdoor storage spaces. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Iowa-based Second Generation Properties LLC, in the transaction. The team also procured the buyers, which were Texas-based private investors.
WHEATON, ILL. — JVM Realty Corp. has acquired Courthouse Square, a 149-unit apartment community in the western Chicago suburb of Wheaton. The purchase price was undisclosed. Located at 250 S. Naperville Road, Courthouse Square was built in 2016 and consists of two six-story buildings. Amenities include a pool and sundeck, concierge service, package receiving, fitness center and yoga studio, event room, outdoor deck, heated indoor garage parking, pet wash and bike repair stations. With this latest acquisition, JVM now owns and manages eight apartment communities in Illinois and 23 throughout the Midwest. Kevin Girard, Mark Stern, Zach Kaufman and Avi Schiffman of JLL represented the undisclosed seller.
MCHENRY, ILL. — Entre Commercial Realty has brokered the sale of a 21,500-square-foot office building located at 420 Front St. in McHenry for an undisclosed price. The two-story property was built in 2000. Dan Jones, Dan Benassi and Sam Deihs of Entre represented the seller, Glacier Properties. Community Consolidated School District 15 purchased the buildings with plans to utilize it as a new central office for the McHenry School District.