OTTAWA, ILL. — Marcus & Millichap has arranged the $6.1 million sale of the Comfort Inn hotel in Ottawa, about 80 miles southwest of Chicago. The 69-room hotel is located at 120 W. Stevenson Road directly off I-80. The three-story property, built in 1995, features a business center, fitness center, complimentary breakfast and meeting facilities. Scott Havericak and Robert Hunter of Marcus & Millichap represented the seller, Ottawa Hospitality Group LLC. The duo also procured the buyer, Akal Hotels.
SYRACUSE, N.Y. — Pyramid Brokerage Co., a division of Cushman & Wakefield, has negotiated the $15.8 million sale of a 51-unit multifamily property in Syracuse. The building was originally constructed in 1910 as a theater and converted into office space in the 1960s. The redevelopment to multifamily took place in 2018. Jonathan Weinstein of Pyramid Brokerage, along with Brian Whitmer, Niko Nicolaou, Ryan Dowd and Peter Welch of Cushman & Wakefield, brokered the deal. A locally based limited liability company sold the asset to a New York City-based family office.
TRENTON, N.J. — NAI Fennelly has brokered the $1.8 million sale of a 27,362-square-foot industrial building located at 480 Lalor St. in Trenton. The building features a clear height of 12 feet and one loading dock. Jerry Fennelly and Matt Fennelly of NAI Fennelly represented the seller, Switlik Survival Products Inc., in the transaction. The buyer was New Jersey-based Howco Management.
DENVER — Berkadia has arranged the sale of University Lofts, a mixed-use student housing community in Denver. California-based Amplify Development Co. sold the asset to an undisclosed buyer for $24.5 million. Located at 2372 E. Evans Ave., University Lofts features 36 units totaling 98 beds in a mix of studio, two- and four-bedroom layouts. Community amenities include a newly renovated student lobby, heated underground parking and street-level retail. Kevin Larimer, Brandon Buell, Nick Steele, Tyler King and Nate Moyer of Berkadia represented the seller in the transaction.
SAN DIEGO — Brookwood Financial Partners has completed the disposition of a six-building office portfolio in North San Diego. MCS Guardian Properties, an affiliate of M.C. Strauss, acquired the portfolio for an undisclosed price. The properties include Carlsbad Executive Plaza, a four-building office park totaling 133,000 square feet, and The Plaza I & II, a two-building complex totaling 89,000 square feet. Carlsbad Executive Plaza offers a campus-like environment and is recognized as Carlsbad’s premier multi-tenant incubator office project, according to Brookwood. The Plaza I & II features creative speculative suites, remodeled lobbies and is only one of three Class A buildings in the market that offers subterranean parking. Brookwood originally acquired the assets in June 2015.
TUCSON, ARIZ. — Cushman & Wakefield|PICOR has brokered the sale of Tierra Alegre Apartments, a multifamily property in Tucson. Equilibrium Cordova Village Tierra Alegre LLC acquired the asset from Ryder Family Real Estate for $8.5 million. Located at 3355 E. Fort Lowell Road, the 37,684-square-foot building features 72 units. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield|PICOR represented both parties in the transaction.
WHEAT RIDGE, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a multifamily property, located at 3330 Ames St. in Wheat Ridge. The building traded for $4.5 million, or $203,182 per unit. The names of the seller and buyer were not released. Built in 1958, the building features 22 apartments. Chris Knowlton and Mark Knowlton of Pinnacle’s Knowlton Lawson Team represented the seller, while Josh Newell of Pinnacle’s Newel Team represented the buyer in the deal.
FOLSOM, CALIF. — Faris Lee Investments has arranged the sale of a retail building located at 905 E. Bidwell St. at The Bidwell Center in Folsom. VR Folsom, an Orange County-based private family office, sold the asset to a La Jolla-based buyer for $11.3 million. Jeff Conover, Shaun Riley and Scott DeYoung of Faris Lee represented the seller, while Infinity Investment Properties represented the buyer in the deal. Situated on 2.7 acres, Sprouts Farmers Market occupies the single-tenant property. The tenant has a 15-year, triple-net lease with 10 years remaining on the term. The grocery store asset is located adjacent to Target, Lowe’s Home Improvement Warehouse and Trader Joe’s.
CEDAR HILL, COLLEYVILLE AND DENTON, TEXAS — JLL has negotiated the sale of a portfolio of three self-storage facilities totaling 1,743 units that are located in the North Texas cities of Cedar Hill, Colleyville and Denton. The portfolio totals 201,850 net rentable square feet. Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL represented the seller, a joint venture between Chicago-based investment firm Harrison Street and Advantage Self Storage, in the transaction. The team also procured the buyer, Texas-based investment firm HPI.
DENVER — Miller United Real Estate has completed the disposition of The Shops on Montview, a retail center located at 8801 E. Montview Blvd. in Denver’s Central Park neighborhood. Terms of the transaction were not released. Built in 2020, The Shops on Montview features 8,511 square feet of retail space. At the time of sale, the property was fully occupied by four tenants, I Heart Mac & Cheese, Pizza Hut, Smile Studio Dental and Starbucks Coffee. Jason Schmidt of JLL Retail Capital Markets Investment Sales and Advisory led the team that represented the seller in the transaction.