SAN ANTONIO — Marcus & Millichap has brokered the sale of Noah’s Ark Self Storage, a 477-unit facility located in the Stone Oak neighborhood of San Antonio. The facility was built on 1.2 acres in 2013 and spans 57,219 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a locally based limited liability company, in the transaction. The duo also procured the buyer, a publicly traded REIT. Both parties requested anonymity.
HOUSTON — Los Angeles-based investment firm CIM Group has sold Ashton on West, a 246-unit apartment community located in the Montrose neighborhood of Houston. The garden-style property offers one- and two-bedroom units and amenities such as a pool, clubhouse, fitness center, outdoor grilling and dining stations and a dog park. The buyer and sales price were not disclosed. CIM Group originally acquired the asset in 2013.
DETROIT — Bedrock has acquired the Roberts Riverwalk Hotel located at 1000 River Place in Detroit’s East Riverfront neighborhood. The purchase price was undisclosed. The seller was Michael Roberts, a St. Louis-based business mogul, according to Crain’s Detroit Business. The 108-room hotel features 5,500 square feet of banquet and event space as well as 126 parking spaces. Bedrock says this acquisition aligns with its mission to further position the riverfront as an ideal site for sustainable urban development. In the East Riverfront area, Bedrock has previously purchased the former UAW-GM Center for Human Resources and a portfolio of properties previously owned by the Stroh family. Bedrock plans to make additional updates regarding the riverfront in 2023. Bedrock, the real estate arm of Rocket Mortgage founder Dan Gilbert, maintains a portfolio of more than 19 million square feet of office, retail and residential space.
ELKHART, IND. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of an 801,218-square-foot industrial facility in Elkhart for an undisclosed price. Completed in October, the build-to-suit is home to a recreational vehicle tenant. The property, which includes a showroom and office as well as warehouse and distribution space, features a clear height of 30 feet, 56 dock-high doors, a 194-foot truck court and seven drive-in overhead doors. Peter Bauman and Tivon Moffitt of IPA represented the seller and procured the buyer, neither of which were disclosed.
INDIANAPOLIS — Government Investment Partners (GIP) has purchased two adjacent office properties in Indianapolis for $8.2 million. The buildings are located at 4150 and 4160 N. Keystone Ave. just east of Fall Creek Parkway near the Indiana State Fairgrounds. MS Land Holdings LLC sold the 60,000-square-foot building at 4160 N. Keystone, which is fully leased to the State of Indiana on behalf of the Indiana Department of Child Services. LNR Partners sold the other building, which totals 95,157 square feet and is roughly 40 percent leased. It is also home to Department of Child Services offices as well as the Indianapolis Metropolitan Police Department. GIP, which specializes in commercial properties leased to federal, state and local government agencies, now maintains a portfolio of more than 30 buildings in 18 states.
MALDEN, MASS. — Locally based brokerage firm Burgess Properties has negotiated the $24.4 million sale of a 64,300-square-foot industrial property located north of Boston in Malden. The facility sits on 3.4 acres and is fully leased to Sunsetter Products, a provider of awnings. Boston-based Quaker Lane Capital purchased the asset from an undisclosed seller. Steve Nohrden of Burgess Properties brokered the deal.
ROCHELLE PARK, N.J. — Cushman & Wakefield has brokered the $17.8 million sale of Park 17, a 105,000-square-foot office building in the Northern New Jersey community of Rochelle Park. The five-story building is home to tenants such as the Bergen County Board of Social Services and St. Joseph’s University Medical Center. Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Seth Zuidema of Cushman & Wakefield represented the seller, GHP Office Realty LLC, in the transaction. The buyer was not disclosed.
VISTA AND CARLSBAD, CALIF. — Wimatex has purchased a multi-tenant office portfolio in Vista and Carlsbad from Thibodo LLC and CCSD LLC for $13.9 million. At the time of sale, the two-building, 70,262-square-foot portfolio was fully leased. The first property, located at 1800 Thibodo Road in Vista, is a three-story building featuring 23,690 square feet of Class A office space that is fully leased to nine tenants. The second building, situated at 1959 Palomar Oaks Way in Carlsbad, is a three-story property featuring 46,572 square feet of Class A office space that is fully leased to four tenants. Aric Starck, Drew Dodds and Matty Sundberg of Cushman & Wakefield represented the sellers in the deal.
WOODINVILLE, WASH. — Gantry has secured $12.5 million in permanent financing for a private real estate investor’s purchased of a single-tenant industrial property in Woodinville. Mike Wood and Alex Saunders of Gantry secured the 10-year, fixed-rate loan through one of the firm’s life company lenders. Redapt, a technology service provider, occupies the 66,000-square-foot facility for its corporate office and production facility. The property is located at 14051 NE 200th St.
LA MESA, CALIF. — Pacific Coast Commercial has negotiated the sale of a medical office property located at 8530 La Mesa Blvd. in Las Mesa. Magnolia Mar Properties sold the asset to Family Health Care Centers of San Diego for $8.4 million. The property features 25,916 square feet of medical office space. Current major tenants include County of San Diego and Penchecks. Brian Crepeau and Ken Robak of Pacific Coast Commercial represented the seller, while Kelly Moriarty and Chris Ross of JLL represented the buyer in the deal. US Bank provided acquisition financing.