Property Type

SPRING GROVE, ILL. — Entre Commercial Realty has brokered the sale of a 42,901-square-foot industrial building in Spring Grove, a city in northeast Illinois. The sales price was undisclosed. Located at 2503 Spring Ridge Road, the two-story facility features a clear height of 18 feet, one dock and eight drive-in doors. Elisabeth Lazzara, Mike DeSerto and Cory Kay of Entre represented the buyer, KBI Custom Case, which intends to renovate both the office and warehouse areas while utilizing half of the property as its new headquarters. The company specializes in millwork and casework for the commercial sector. Dawn Koenigseder of Berkshire Hathaway Starck Real Estate represented the undisclosed seller.

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ROCHESTER, MINN. — Marcus & Millichap has arranged the sale of the Microtel Inn & Suites Rochester South for an undisclosed price. The 88-room, recently built property is located at 4165 Maine Ave. SE. Jon Ruzicka, Jake Erickson, Jared Plamann and Joseph Ferguson of Marcus & Millichap represented the buyer and seller, details of which were not provided.

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LAKE ZURICH, ILL. — Lee & Associates has negotiated the $1.2 million sale of Deertrail Court, a 9,800-square-foot retail strip center in the northwest Chicago suburb of Lake Zurich. Built in 1980, the property is located at 884 S. Rand Road. Tenants include Eye Level Learning Center, Mimi Nails, Nova Care Rehabilitation, Rush Physical Therapy and Sake Sush & Grill. Rick Scardino and Michael Petrik of Lee & Associates represented the undisclosed seller. Adam Foret of CBRE represented the buyer, N.D.C.V.G. Properties LLC.

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PISCATAWAY, N.J. — Carrier Enterprise has signed a 78,000-square-foot industrial lease in the Northern New Jersey community of Piscataway. The distributor of HVAC parts and systems will occupy the entirety of the newly constructed building at 30 Duke Road, which is located within the 650,000-square-foot Rutgers Industrial Center development. Chuck Fern, Jason Barton and Jack Winge of Cushman & Wakefield represented the landlord, Levin Management Corp., in the lease negotiations. Dan Johnsen, also with Cushman & Wakefield, represented the tenant.

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IRVINGTON, N.J. — NAI James E. Hanson has brokered the sale of a 10,878-square-foot industrial building in the Northern New Jersey community of Irvington. The building at 592 Hawthorne Ave., which according to LoopNet Inc. was built in 1950, features a clear height of 12 feet, three drive-in doors and 958 square feet of office space. Justin Allessio of NAI Hanson represented both the seller, Haenssler Realty Corp., in the transaction and procured the buyer, an entity doing business as Irvington Industrial LLC.

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Unison-Elliott-Bay-Seattle-WA

SEATTLE — Office Properties Income Trust (NASDAQ: OPI) has completed Unison Elliott Bay, a three-building, 300,000-square-foot life sciences campus located at 351, 401 and 501 Elliott Ave. West in Seattle. Unison Elliott Bay features Class A office space totaling 200,000 square feet. The buildings feature 14-foot floor-to-floor heights in two dedicated lab buildings inclusive of move-in ready lab and R&D space, with suites ranging from 12,500 square feet to 25,000 square feet. The campus includes dedicated mechanical infrastructure supported by standby generator power to accommodate lab and technological power requirements. The campus features reception areas, collaborative indoor and outdoor meeting areas, conference and training rooms, fitness and changing room facilities, and a landscaped courtyard with built-in pergola and sculptures. Additional amenities include covered and surface parking, secure bike storage and electric vehicle charging stations. The campus will also offer a chef-driven café, as well as a rotating mix of food trucks. Sonoma Biotherapeutics, a clinical-stage biotechnology company, has signed a 10-year lease for more than 83,000 square feet at the 501 building. The clinic-stage biotechnology company occupies three floors of office and lab space for its R&D and manufacturing center, which is intended for the development of engineered regulatory T …

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The-Abbey-West-Hollywood-CA

WEST HOLLYWOOD, CALIF. — Marcus & Millichap has arranged the sale of The Abbey Food & Bar and The Chapel at The Abbey, two nightspots in West Hollywood. David Cooley sold the assets to Tristan Schukraft for $27 million. Brandon Michaels and Matthew Luchs of Marcus & Millichap represented the seller and procured the buyer in the deal. The previous ownership transformed a small coffee shop into The Abbey Food & Bar became a well-known bar, restaurant and event venue, and opened its sister location, The Chapel at The Abbey. The assets are located on neighboring parcels at the signalized corner of North Robertson and Santa Monica boulevards.

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2000-Lake-Washington-Apts-Renton-WA.jpg

RENTON, WASH. — New York Life Real Estate Investors (NYLREI) has completed the sale of 2000 Lake Washington, an apartment property in Renton, to an undisclosed buyer for $53.2 million. Renton is located southeast of Seattle. Located at 1300 N. 20th St., 2000 Lake Washington offers 186 apartments in a mix of one- and two-bedroom floor plans, averaging 706 square feet, with in-unit washers/dryers and a balcony and/or patio. Community amenities include a fitness center, dog park, business center, clubhouse, outdoor pool, sauna and electric vehicle chargers. Built in 1986, the community was renovated in 2016. Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper of CBRE’s multifamily team in the Pacific Northwest represented the seller. Peter Marino, Troy Tegeler, Trevor Breaux and Ryan Greer of CBRE Debt and Structured Financed is arranging acquisition financing for the buyer.

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Crossroads-Apts-West-Valley-City-UT.jpg

WEST VALLEY CITY, UTAH — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of and financing for Crossroads Apartments, a multifamily community in West Valley City, a suburb of Salt Lake City. Brock Zylstra and Danny Smith of IPA represented the seller and procured the buyer in the transaction. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets arranged an undisclosed amount of acquisition financing for the buyer. Built in 1986 on more than 10 acres, Crossroads Apartments offers 240 apartments, a swimming pool, children’s playscape, basketball and tennis courts, a picnic area and clubhouse. The property offers a mix of one- and two-bedroom apartments with walk-in closets, storage rooms and a patio or balcony. The buyer, seller and acquisition price were not disclosed.

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1212-E-4th-St-Santa-Ana-CA

SANTA ANA, CALIF. — CBRE has arranged the sale of a 0.29-acre, fully entitled multifamily development site at 1212 E. 4th St. in Santa Ana. A private seller sold the asset to an Orange County-based buyer for $1.2 million. Currently named 4G Lofts, the shovel-ready development is fully entitled for 15 studios, one- and two-bedroom apartments, with one unit designated as affordable for very-low-income residents. Additionally, the property will offer 17 parking spaces. The site is located in Orange County. Michelle Jefcoat and Dan Blackwell of CBRE represented the seller in the transaction.

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