FRESNO, CALIF. — Matthews Real Estate Investment Services has arranged the purchase of Shaw West Center, a shopping plaza located at 2047-2097 W. Shaw Ave. in Fresno. A 1031 exchange buyer acquired the asset from an undisclosed seller for $11.1 million. Shaw West Center is occupied by national and regional tenants, with many under triple-net leases. Nabil Awada of Matthews Real Estate Investment Services represented the buyer in the deal.
LAKEWOOD, COLO. — Blue West Capital has brokered the sale of a retail property located at 5807 W. Colfax Ave. in Lakewood. A California-based family office sold the asset to a California-based investor for $2.8 million. O’Reilly Auto Parts has occupied the property on a net-lease basis since 1998, with approximately four years remaining on its lease. Brandon Gayeski of Blue West Capital represented the seller and buyer in the deal.
PEORIA, ILL. — The Boulder Group has negotiated the $7.9 million sale of a single-tenant retail property net leased to Best Buy in Peoria. The 46,432-square-foot building is located at 5001 N. Big Hollow Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based investor. A Midwest-based real estate company was the buyer. Best Buy has more than four years remaining on its lease.
SHREWSBURY, MO. — Marcus & Millichap has arranged the $3.4 million sale of a 20,000-square-foot property net leased to Planet Fitness in Shrewsbury, a western suburb of St. Louis. The building is located at 7521 Watson Road. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller, a limited liability company. A West Coast-based buyer purchased the property while completing a 1031 exchange.
SPOKANE VALLEY, WASH. — Marcus & Millichap has arranged the sale-leaseback of a retail property located at 13708 E. Indiana Ave. in Spokane Valley. A limited liability company sold the asset to a California-based 1031 exchange buyer for $8 million. Great Floors occupies the 46,000-square-foot property on a net-leased basis. This is the fourth Great Floors property to close in a series of five sale-leaseback transactions in Washington and Idaho. Clayton Brown, Christopher Edwards and Ruthanne Romero of Brown Retail Group in Marcus & Millichap’s Seattle office represented the seller in the deal.
PHOENIX — DWG Capital Partners has purchased an industrial facility, located at 3420 W. Catalina Drive in Phoenix, for an undisclosed price. The sale-leaseback deal includes a new, 15-year, triple-net lease with the seller, Rembrandt Stone Masters. The stone fabrication company occupies the 29,600-square-foot property, which is situated on 1.7 acres. Founded in 1996, the company operates a state-of-the-art facility with leading-edge CNC machinery and technology supported by a team of craftsmen and artisans. Dugan Kelley of Kelley Clarke PC represented the buyer, while Steve Lowe and Oscar Lopez of Matthews Real Estate represented the seller in the transaction. WaFd Bank provided acquisition financing, which Jim McCann arranged.
CHICAGO — Chicago-based Brauvin Real Estate has sold a portfolio of 59 net-leased retail properties for $185 million. The properties are located in 18 states across the country and are leased to 16 tenants. John Morse and Andrew Hahn of Patzik, Frank and Samotny represented Brauvin in the transaction. The buyer was undisclosed. The sale completes the investment cycle of Brauvin’s 17th investment fund. The company now plans to acquire another $200 million in assets for its 18th fund.
ATTLEBORO, MASS. — JLL has negotiated the sale of a 115,650-square-foot retail building in the southern Boston suburb of Attleboro that is net leased to BJ’s Wholesale Club. The tenant has occupied the building since its original construction in 2011. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction. The buyer and sales price were also undisclosed.
HENDERSON, NEV., AND MILLWOOD, WASH. — Faris Lee Investments has brokered the sales of two single-tenant grocery stores, totaling 106,254 square feet in Henderson and Millwood. The properties sold for a combined consideration of $22.4 million. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the undisclosed buyers and seller, a Southern California-based family private office, in the deal. Located in Henderson, the 58,254-square-foot property is an absolute triple-net lease to Albertsons with 14 years remaining on its lease. The second property, located in Millwood, is a 48,000-square-foot, freestanding Safeway, with 18 years remaining on its lease.
TULSA, OKLA. — Stan Johnson Co., a locally based brokerage firm focused on net-leased assets, has arranged the $7.3 million sale of a 13,225-square-foot retail property in Tulsa that is leased to CVS. The property was built in 2011. B.J. Feller of Stan Johnson Co. represented the seller in the transaction. A California-based institutional investor acquired the asset. The deal traded at a cap rate of 5.25 percent and was executed via a 1031 exchange.
