Acquisitions

Colliers Brokers Sale of I-88 Gateway Logistics Center in Aurora, Illinois

by Kristin Harlow June 21, 2023

AURORA, ILL. — Colliers has brokered the sale of the I-88 Logistics Center in Aurora for an undisclosed price. Built on a speculative basis by Opus North Development in 2015, the 604,556-square-foot facility features a clear height of 32 feet and parking for 63 trailers. At the time of sale, the property was fully leased to Ryder Logistics, whose lease runs through 2027. Jeff Devine and Steve Disse of Colliers represented the seller, an institutional real estate advisor. An undisclosed financial institution purchased the asset.

June 21, 2023

Acquisitions Midwest Office Wisconsin

Marcus & Millichap Negotiates $3.4M Sale of Office Building in Racine, Wisconsin

by Kristin Harlow June 21, 2023

RACINE, WIS. — Marcus & Millichap has negotiated the $3.4 million sale of Warwick Business Court in Racine, about 30 miles south of Milwaukee. The 24,500-square-foot office building is situated on Warwick Way. At the time of sale, the property was 89 percent occupied and anchored by three medical tenants. The building was constructed in 2000 and renovated within the last three years. Brett Rodgers, Frank Roti and Alex Sacks of Marcus & Millichap represented the seller, a limited liability company. The team also secured and represented the buyer, a private investor.

June 21, 2023

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Arranges Sale of 101,323 SF Industrial Building in Spring Grove, Illinois

by Kristin Harlow June 21, 2023

SPRING GROVE, ILL. — Entre Commercial Realty has arranged the sale of a 101,323-square-foot industrial building in Spring Grove, a city in Northeast Illinois. The building sits on 10 acres at 3106 N. Route 12. Spring Grove-based All-Rite Spring Co. acquired the facility with plans to consolidate operations from multiple buildings. Dan Jones, Dan Benassi and Sam Deihs of Entre represented the buyer. The sales price and seller were undisclosed.

June 21, 2023

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing

Blueprint Negotiates Sale of 1,000-Bed Skilled Nursing Portfolio in Pennsylvania

by Taylor Williams June 21, 2023

PENNSYLVANIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a skilled nursing portfolio totaling more than 1,000 beds in Pennsylvania. A public REIT and its operating partner sold the two campuses, which offer independent living, personal care and memory care services. Although specific property names and locations were not disclosed, the properties are concentrated in northeast and central Pennsylvania. An East Coast-based investor seeking to establish a new footprint in the region acquired the assets for an undisclosed price.

June 21, 2023

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Partners Arranges Sale of 64,917 SF Retail Property in Metro Boston

by Taylor Williams June 21, 2023

FRAMINGHAM, MASS. — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has arranged the sale of a 64,917-square-foot retail property in Framingham, a western suburb of Boston, that is leased to grocer Stop & Shop. The site spans 7.6 acres and has an average daily traffic count of more than 68,500 vehicles. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

June 21, 2023

Acquisitions New Hampshire Northeast Retail

Torrington Properties Acquires Shopping Center in Durham, New Hampshire, for $8.8M

by Taylor Williams June 21, 2023

DURHAM, N.H. — Locally based investment firm Torrington Properties has acquired Mill Road Plaza, a 53,280-square-foot shopping center in Durham, about 70 miles north of Boston, for $8.8 million. Grocer Hannaford anchors the center, which sits on 10 acres. Other tenants include Allegiant Physical Therapy, Appledore Family Medicine & Pediatrics, Domino’s Pizza, Mei Wei, Rite Aid and The Works Café. The seller was Colonial Durham Associates. David Choate and Abigail Bachman of Colliers brokered the deal.

June 21, 2023

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $6.7M Sale of West Miami Store Leased to Walgreens

by John Nelson June 20, 2023

MIAMI — Marcus & Millichap has brokered the $6.7 million sale of a freestanding store in west Miami that is leased to Walgreens. The 13,650-square-foot store is located on a 1.4-acre parcel at 16690 SW 88th St. and is an outparcel to Kendall Pointe, a shopping center anchored by Aldi and PetSmart. Built in 2004, the store is subject to a new 15-year triple-net lease with Walgreens. Jonathan De La Rosa and Eduardo Toledo of Marcus & Millichap’s Miami office represented the buyer, a local private investment firm, in the transaction. The seller was also not disclosed.

June 20, 2023

Acquisitions Multifamily Seniors Housing Texas

SLIB Negotiates Sale of 62-Unit Seniors Housing Complex in Carrollton, Texas

by Taylor Williams June 20, 2023

CARROLLTON, TEXAS — Senior Living Investment Brokerage (SLIB) has negotiated the sale of an unnamed, 62-unit assisted living and memory care complex in Carrollton, a northern suburb of Dallas. The property totals approximately 40,000 square feet and sits on a 3.6-acre plot. The seller was a private equity group. The Dallas-based buyer was a private investment group that partnered with a local operator. Both parties requested anonymity. Matthew Alley and Jeff Binder of SLIB brokered the deal.

June 20, 2023

Acquisitions Development Industrial New York Northeast

Eagle Cliff Real Estate Buys Industrial Development Site on Long Island

by Taylor Williams June 20, 2023

ISLIP, N.Y. — New York City-based Eagle Cliff Real Estate Partners has purchased an eight-acre industrial development site located at 4955 Veterans Memorial Highway in the Long Island community of Islip. Eagle Cliff plans to construct a 108,023-square-foot building that will be known as Holbrook Logistics Center and that will clear height of 36 feet, two drive-in doors and 108 parking spaces. Delivery is slated for the third quarter of 2024. Jordan Avanzato, Marc Duval, Nicholas Stefans, Jason Lundy, Jose Cruz and Mark Belenky of JLL brokered the land deal. The seller was an undisclosed local developer. First Citizens Bank provided $19.5 million in construction financing for the deal.

June 20, 2023

Acquisitions Midwest Nebraska Retail

Marcus & Millichap Arranges $3.6M Sale of Retail Property in Omaha

by Kristin Harlow June 20, 2023

OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 5,412-square-foot retail property in Omaha for $3.6 million. Constructed in 2021, the building is home to Bank of the West and Dave’s Hot Chicken and is located at 339 N. Saddle Creek Road. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

June 20, 2023

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