SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of Western Lights Shopping Center, a 250,193-square-foot retail property in Syracuse, for $18.2 million. Tenants at the center include Price Chopper, Valu Home Center, Dollar Tree, Rainbow Shops, Mavis Discount Tire, Supercuts and Subway. Joseph French Jr., Kodi Traver and Thomas Dalzell of Marcus & Millichap represented the seller, a private investor, in the transaction. The team also secured the buyer.
PATERSON, N.J. — Kirker Enterprises Inc., a manufacturer that serves the fashion industry, has sold a 152,000-square-foot industrial building located in the Northern New Jersey community of Paterson. The building sits on three acres and features four drive-in doors, 12 loading docks and clear heights of 14 to 22 feet. Russell Verducci and Eric Demmers of NAI James E. Hanson teamed with Hanna Commercial Real Estate to represent the seller in the transaction. The buyer was an entity doing business as 55 East 6 LLC.
STRATFORD, CONN. — Locally based brokerage firm Vidal/Wettenstein has arranged the $8.2 million sale of Spinelli Plaza, a 58,200-square-foot shopping center in Stratford, located in southern Connecticut’s Fairfield County. Tenants at Spinelli Plaza include Chase Bank, Family Dollar and Starbucks. The Spinelli Family sold the center to an undisclosed 1031 exchange buyer. Bruce Wettenstein of Vidal/Wettenstein brokered the deal.
SPRINGFIELD, ILL. — Northmarq has negotiated the sale of the Koke Mill Portfolio in Springfield for $29 million. The 308-unit multifamily portfolio consists of the following properties: West Koke Mill Village, Boysenberry Village and Smythberry Village. Parker Stewart of Northmarq represented both the undisclosed buyer and seller. David Garfinkel of Northmarq originated a $19.5 million Fannie Mae acquisition loan on behalf of the borrower.
COLUMBUS, OHIO — CT Realty is underway on the construction of Phase II of Rickenbacker Logistics Park in Columbus. Phase II consists of three speculative buildings, including a 1 million-square-foot facility, a 598,754-square-foot building and a 413,250-square-foot facility. Each building will feature a clear height of 40 feet. Dan Wendorf and Brian Marsh of JLL are marketing Phase II for lease. Phase I consisted of two buildings that are now occupied by TJX and Geodis.
ROSSFORD, OHIO — Eidi Properties has completed the lease-up of Crossroads Centre in Rossford, just south of Toledo. Ashley Furniture will occupy the remaining 42,305 square feet. Big Lots opened a 37,716-square-foot store in February. Eidi acquired the 470,225-square-foot shopping center in December 2018 when it was 77 percent occupied. The property is situated next to an Amazon distribution center.
HALES CORNERS, WIS. — Marcus & Millichap has arranged the $6 million sale of a 37,219-square-foot retail center in Hales Corners, about 14 miles southwest of Milwaukee. Dollar Tree and Health Hut anchor the fully leased property, which is located at 5602 S. 108th St. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a developer. The team also procured the buyer, a private investor that completed a 1031 exchange. The property sold at the full asking price.
MILWAUKEE — NAI Greywolf has brokered the sale of a 20,860-square-foot industrial building in Milwaukee for $1.5 million. Located at 8800 Dean Road, the property features a clear height of 19 feet, two docks and two drive-in doors. There is excess land that can be utilized for additional parking or storage. David Hodge of NAI Greywolf represented the undisclosed buyer. The seller was also undisclosed.
SEATTLE — The Jacobson Co. has completed the sale of Alley24, an apartment community located at 241 Yale Ave. in Seattle’s South Lake Union neighborhood. An undisclosed buyer acquired the property for $90 million. Built in 2006 and remodeled in 2014, Alley24 features 172 apartments in a mix of studio, one- and two-bedroom layouts with an average unit size of 722 square feet. Community amenities include a 24-hour gym, resident lounge with catering kitchen, media room, rooftop deck with city skyline views and ground-floor retail space. Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto of CBRE represented the seller in the deal.
MESA, ARIZ. — NextGen Apartments has completed the disposition of Craft @ Gilbert & Baseline, a multifamily community in Mesa. An undisclosed buyer acquired the asset for $45 million, or $432,692 per unit. Completed in 2019, Craft @ Gilbert & Baseline features 104 apartments in a mix of one- and two-bedroom open-concept layouts that average 1,018 square feet. Units feature full-size washers/dryers, smart home features and garage access. Community amenities include a resort-style swimming pool, outdoor yoga space, grilling stations and a firepit. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.