REBusinessOnline

TJL Properties Sells East Bay Area Industrial, Office Facility for $50.1M

RICHMOND, CALIF. — TJL Properties has completed the disposition of a light industrial warehouse and office facility located in the East Bay community of Richmond. An institutional investor acquired the asset for $50.1 million.Situated on 12.3 acres at 700-702 National Court, the asset features 267,500 square feet of light industrial and office space. The property comprises a 250,500-square-foot industrial warehouse and a 17,000-square-foot office building. The industrial component …

Acquisitions, California, Industrial, Net Lease, Office, Western

Stan Johnson Co. Arranges $5.7M Sale of Walgreens-Occupied Property in Keizer, Oregon

KEIZER, ORE. — Stan Johnston Co. has brokered the sale of a retail property located at 5000 River Road North in Keizer. A Los Angeles-based institutional buyer sold the asset to a Long Beach, Calif.-based private investor for $5.7 million.Originally constructed in 2008 on 1.6 acres, the property features 13,775 square feet of retail space. Walgreens occupies the building on a net lease including a 15-year base term with rent increases every five years.Pat Weibel and BJ Feller of Stan …

Acquisitions, Net Lease, Oregon, Retail, Western

Taylor Street Brokers $7.8M Acquisition of Animal Clinic in Parker, Colorado

PARKER, COLO. — Taylor Street Advisors has arranged the purchase of Animal Emergency & Specialty Center, located at 17701 Cottonwood Drive in Parker. Woodridge Apartment Holdings acquired the single-tenant property from Veterinary Property Management for $7.8 million.Compassion-First Pet Hospitals occupies the 19,338-square-foot building with more than 10 years remaining on its triple-net lease. The building sits on a 69,696-square-foot lot.Jake Baratz and Boston Chauthani of …

Acquisitions, Colorado, Net Lease, Retail, Western

SRS Real Estate Arranges $6.7M Sale of Wawa Store in Roselle, New Jersey

ROSELLE, N.J. — SRS Real Estate Partners has arranged the $6.7 million sale of a retail asset that is occupied by convenience store chain Wawa in Roselle, located south of Newark. Patrick Nutt and Andrew Fallon represented the seller in the transaction. The buyer was an undisclosed private investor. The store opened in May

Acquisitions, Net Lease, New Jersey, Northeast, Retail

JLL Arranges $23.7M Acquisition Loan for Pellisier Logistics Center in Colton, California

COLTON, CALIF. — JLL Capital Markets has secured $23.7 million in acquisition financing for Pellisier Logistics Center, an industrial warehouse and distribution property located at 1901 W. Center St. in Colton.Marc Schillinger, Keith Rosso and Eric Boucher of JLL’s Debt & Structured Finance group in Century City, Calif., placed the two-year, fixed-rate loan with Thorofare Capital for the borrower, a privately owned apparel manufacturer. Loan proceeds were used to purchase the asset …

Acquisitions, California, Industrial, Loans, Net Lease, Western

NKF Brokers $20.3M Sale of Target-Occupied Building in Phoenix

PHOENIX — Newmark Knight Frank (NKF) has brokered the sale of a retail building located at 1625 Camelback Road in Phoenix. An affiliate of Menin Development sold the asset to an undisclosed institutional buyer for $20.3 million.Target occupies the single-tenant, 50,428-square-foot property on a long-term net lease with fixed rental increases. The retailer opened the store, its first small footprint location in Arizona, in July 2017.Matt Berres, Samer Khalil and David Guido of NKF Net …

Acquisitions, Arizona, Net Lease, Retail, Western

Upland Real Estate Group Brokers $4.7M Sale of Caliber Collision-Occupied Property in Minnesota

COON RAPIDS, MINN. — Upland Real Estate Group has arranged the $4.7 million sale of an investment property net leased to Caliber Collision in Coon Rapids. The names of the seller and buyer were not released.Caliber Collision has operated at this location in the suburbs of Minneapolis for 20 years and recently signed a new 15-year, triple-net lease with rent increases every 5 years. The property’s lease has a corporate guarantee by WAND NEWCO 3, which operates more than 1,100 stores in …

Acquisitions, Industrial, Midwest, Minnesota, Net Lease, Retail

Ostler Holding Sells Family Dollar-Occupied Retail Property in Helper, Utah

HELPER, UTAH — Ostler Holding Limited Company of Utah LLC has completed the disposition of a retail building located at 610 US-6 in Helper. An in-state limited liability company acquired the asset for $1.3 million.Built in 2019 on 1.4 acres, the property features 8,320 square feet of retail space. Family Dollar occupies the building on a double net lease with 8.5 years remaining on the term.Drew Isaac and James Rassenfoss of Marcus & Millichap represented the seller in the …

Acquisitions, Net Lease, Retail, Utah, Western

Benson DBS Purchases Two Dollar General-Occupied Properties in Arizona, New Mexico for $3.3M

KINGMAN, ARIZ., AND SILVER CITY, N.M. — Benson DBS has acquired two retail properties for a total of $3.3 million. Dave Hammack of Cushman & Wakefield | PICOR represented the buyer in both transactions.Benson DBS company acquired a new Dollar General-occupied building located at 7265 E. Concho Drive in Kingman. SimonCRE Saltair II sold the asset for $1.7 million. Additionally, the company purchased a new Dollar General-occupied property at 1330 E. 32nd St. in Silver City from Silver …

Acquisitions, Arizona, Net Lease, New Mexico, Retail, Western

NKF Brokers $9M Sale of Shoppes at Legacy in Mesa, Arizona

MESA, ARIZ. — Newmark Knight Frank (NKF) has arranged the sale of Shoppes at Legacy, a retail center located at 5609 E. McKellips Road in Mesa. An affiliate of YAM Properties sold the asset to Sperry Equities for $9 million, or $166.17 per square foot.Built in 2006, Shoppes at Legacy features 54,160 square feet of retail space. At the time of sale, the retail center was 90 percent occupied by a variety of tenants, including Cigna Medical Group and Pita Jungle. The transaction included a …

Acquisitions, Arizona, Net Lease, Retail, Western
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