BENSENVILLE, ILL. — Advanced Metalcraft has purchased industrial space in Bensenville for an undisclosed price. The two adjoining buildings at 110 and 210 Gateway Road total 44,600 square feet. Advanced Metalcraft, a fabricator of precision metal components and assemblies, is relocating and expanding from a 15,000-square-foot space in Franklin Park. Trinity Scurto of Brown Commercial Group represented Advanced Metalcraft, while Brian Carroll of JLL represented the seller, 110 Gateway LLC. Advanced Metalcraft plans to complete building renovations and take occupancy this quarter.
EDEN PRAIRIE, MINN. — Marcus & Millichap has brokered the $2.3 million sale of an 8,276-square-foot restaurant property occupied by Buca Di Beppo in the Minneapolis suburb of Eden Prairie. The net-leased building is located at 7711 Mitchell Road. Tom Gommels of Marcus & Millichap represented the seller, a limited liability company. Alvin Mansour and Sim Liberow of Marcus & Millichap represented the buyer, a limited liability company completing a 1031 exchange.
AUSTIN, TEXAS — Los Angeles-based investment firm CIM Group has sold Hartland Plaza, a 184,128-square-foot office building in downtown Austin. The building was constructed in 1984 on a 3.4-acre site that includes a four-story parking garage. CIM Group also implemented a capital improvement program at Hartland Plaza between 2017 and 2019. Amenities include a fitness center, lounge, conference facilities, salon and an onsite restaurant. The buyer and sales price were not disclosed. JLL represented CIM Group in the transaction and arranged acquisition financing on behalf of the undisclosed buyer.
SCOTTSDALE, ARIZ. — Phoenix-based Creation has acquired 18 acres within Scottsdale Airpark for the development of Thunderbird Commerce Park, a $60 million industrial center. Located at the southeast corner of Scottsdale and Thunderbird roads, the project will feature a 243,360-square-foot Class A industrial building offering 51 truck doors, 32-foot clear heights, 3,000-amp power, four electric vehicle dual charging pedestals, 130-foot truck court depth and 322 car parking spaces. Construction is slated to begin later this year. Creation sourced the land on an off-market basis and is currently processing entitlements through the City of Scottsdale. The project team includes LGE Design Build as general contractor and LGE Design Group as architect. Completion is scheduled for late 2024.
WEST COVINA, CALIF. — Quest Capital Partners has sold Atrium on the 10, an office building located at 2934 E. Garvey Ave. South in West Covina. A Covina-based nonprofit owner/user acquired the property for $22.2 million. In recent years, more than $3 million in capital has been invested in the 100,724-square-foot building. Updates include exterior cosmetic and common area enhancements, upgrades to furniture, installation of a living wall in the atrium, tenant improvements and updated building systems. Sammy Cemo, Mark Shaffer, Anthony DeLorenzo, Gary Stache and Bryan Johnson of CBRE’s Capital Markets, Investment Properties team, along with Steven Saunders and Philip Woodford of CBRE represented the seller in the transaction.
MESA, ARIZ. — Phoenix Commercial Advisors has arranged the sale of Mesa Gateway, a three-building retail property at the southeast corner of Power and Ray roads in Mesa. The property traded for $11.8 million, or $371 per square foot. Totaling 31,824 square feet, the three buildings were fully leased to a mix of national and local tenants, including Verizon, Comerica, Jimmy John’s Sandwiches, Fit Body Boot Camp and Boba CuTea. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the transaction. The name of the buyer was not released.
COMMERCE CITY, COLO. — Industrial Outdoor Ventures (IOV) has completed the disposition of an 11.9-acre Industrial Service Facility (ISF), which is a property that is used to store, maintain or dispatch vehicles, equipment or bulk materials. The sale also included a flex building at 8780 E. 93rd Place in Commerce City. The buyer and price were not disclosed. Completed in September 2022, the 52,500-square-foot Class A maintenance and repair facility features 4,200 square feet of office space and can accommodate a single user or multiple tenants. The shop area features two wash bays and 18 drive-through service bays, as well as sealed concrete floors and trench drains. Additionally, the property includes a fully fenced and secured yard for parking and storage, LED lighting and extensive landscaping. Mike Wafer, Mike Wafer Jr. and Mike Viehmann of Newmark represented IOV, while James McGill and Chris Schultz of JLL represented the buyer in the transaction.
MILFORD, CONN. — Pennsylvania-based investment firm Merion Realty Partners has purchased Halstead Milford, a 246-unit apartment community located in southern coastal Connecticut. Virginia-based REIT AvalonBay Communities originally developed the three-story, garden-style property in 2004. Amenities at Halstead Milford include a pool, fitness center, coworking space, game room, outdoor grilling and dining areas and a leasing office. Simon Butler, Biria St. John, Jeff Dunne, John McLaughlin, Eric Apfel, Stuart MacKenzie and Brian Bowler of CBRE represented the seller, an affiliate of The DSF Group, in the transaction. The team also procured Merion Realty Partners as the buyer. The sales price was not disclosed.
IRVINGTON, N.Y. — Marcus & Millichap has brokered the $23.5 million sale of Astor Buck Campus, a 138,000-square-foot office complex in Irvington, about 20 miles north of Manhattan. The three-building property was originally built along the Hudson River in 1895. At the time of sale, Astor Buck Campus was 91 percent leased to 26 tenants in industries such as fashion and design, communications, food service and hydroponic farming. Alan Cafiero, Mark Gjonbalaj and Matt Leszyk of Marcus & Millichap represented the seller, an entity doing business as Stanford Bridge LLC, in the transaction. The team also procured the buyer, Carvi Properties Inc.
CARLSTADT, N.J. — JLL has arranged a $19.5 million acquisition loan for a 109,775-square-foot warehouse and distribution building in the Northern New Jersey community of Carlstadt. The facility at 305 Veterans Blvd. sits on 3.5 acres and features a clear height of 22 feet, six dock-high doors, one drive-in door and 78 parking spaces. Michael Klein, Max Custer and Ryan Carroll of JLL arranged the three-year, floating-rate loan through TriState Capital Bank on behalf of the borrower, Penwood Real Estate Investment Management. The current tenant is in the process of vacating the property, and JLL has also been retained for leasing services.