NASHVILLE, TENN. — Chicago-based Brennan Investment Group has acquired a 75,000-square-foot distribution facility located at 565 Brick Church Park Drive in Nashville. The seller and sales price were not disclosed. Situated on a 5.3-acre site five miles north of downtown Nashville, the property was fully leased at the time of sale to locally based AllParts Medical, a division of Philips Healthcare that uses the facility to stock, test, repair and distribute more than 60,000 replacement parts used in high-end medical tools. Built in 1996 and renovated in 2019, the infill building features a 135-foot truck court, 24-foot maximum clear heights, LED lighting, climate control and 12,500 square feet of office space. The facility was formerly used as a studio for the TV show “Nashville.” The 565 Brick Church Park property represents Brennan’s fourth acquisition in the Nashville market since 2019.
Acquisitions
FRISCO, TEXAS — A joint venture between Chicago-based Remedy Medical Partners and Kayne Anderson Real Estate has acquired Baylor Scott & White Frisco Medical Center, a 161,264-square-foot specialty surgical hospital located on the northern outskirts of Dallas. The two-story, 68-bed facility sits on 7.4 acres and is fully leased to Texas Health Ventures Group, a joint venture between Baylor Scott & White and United Surgical Partners International. Services include orthopedics, OB/GYN, labor delivery/NICU, urology, spine, radiology and general surgery, as well as an emergency department and onsite pharmacy. The seller was not disclosed. First Citizens Bank provided a $75 million acquisition loan for the deal.
SLIB Negotiates Sale of 55-Unit Sunny Rose Glen Seniors Housing Property in Menifee, California
by Amy Works
MENIFEE, CALIF. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Sunny Rose Glen, a 55-unit assisted living and memory care community in the Inland Empire city of Menifee. The community was built in 2010 and totals 30,000 square feet on a 1.8-acre plot. The seller was a single-asset owner looking to retire. The buyer was a California-based group looking to expand its portfolio in Southern California. The new owner plans to operate the community itself following cosmetic improvements to the property. The price was not disclosed. Brad Goodsell, Jason Punzel, Vince Viverito and Jake Anderson of SLIB handled the transaction.
DENVER — Malman Commercial Real Estate has arranged the sale of an industrial property located at 890 Navajo St. in Denver’s Lincoln Park neighborhood. GS Navajo LLC sold the asset to 890 Navajo LLC for $4.1 million. The property features 56,160 square feet of industrial space. Jake Malman of Malman Commercial Real Estate represented the seller in the deal.
ST. LOUIS — Berkadia has brokered the $7.5 million sale of Lynn Town Apartments in St. Louis. The 144-unit, garden-style multifamily property is located at 9675 Muriel Ave. The community was built in 1963. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia represented the seller, the original developer who had owned the property for 60 years. The buyer was undisclosed.
BEREA, OHIO — Tempus Realty Partners has purchased a 57,948-square-foot industrial facility located at 140 Blaze Industrial Parkway in Berea, a western suburb of Cleveland. The purchase price was $4.4 million. Tempus acquired the property from TMG Performance Products LLC.
CHICAGO — SVN Chicago Commercial has brokered the $1.8 million sale of a 4,800-square-foot restaurant condo in Chicago’s South Loop. The asset is located at 1307 S. Wabash Ave. Tim Rasmussen and Marcus Sullivan of SVN represented the undisclosed seller. David Wong of Century 21 Realty Associates represented the local buyer. The property sold for 95 percent of the asking price.
LAS VEGAS — Chicago-based Newcastle Properties has purchased a retail center located at the northeast corner of Lake Mead Boulevard and Tenaya Way in Las Vegas’ Summerlin area. Terms of the transaction were not released. Whole Foods Market, Five Guys Burgers and Fries, Blaze Pizza, Firehouse Subs and FedEx Office are tenants at the 90,373-square-foot shopping center.
VANCOUVER, WASH. — HDA Partners has purchased Y Plaza, a shopping property in Vancouver, from Slosar Properties for $3.6 million. Located at 14602-14612 NE Fourth Plain Blvd., Y Plaza features 22,200 square feet of retail space. Deborah Ewing of Fuller Group Commercial Real Estate Services represented the seller, while Eric Garske of Marcus & Millichap represented the buyer in the deal.
VISTA, CALIF. — Voit Real Estate Services has negotiated the acquisition of a retail building at 825 Civic Center Drive in Vista, approximately 40 miles north of San Diego. Newport Beach-based Union Bank of California sold the asset to Vista-based Moonlight Cultural Foundation for $2 million. The buyer, a local theatre production company, will use the 6,360-square-foot building for youth training and prop storage. Peter Kies of Voit Real Estate Services’ Carlsbad office represented the seller, while Cushman & Wakefield represented the buyer in the transaction.