WAYNE, N.J. — Cushman & Wakefield has negotiated the $22.2 million sale of Oak Hill Park, a 122,600-square-foot medical and office complex in Wayne, about 25 miles west of New York City. The two-building complex was recently renovated and was 95 percent leased at the time of sale. Frank DiTommaso, David Bernhaut, Andy Merin, Gary Gabriel and Seth Zuidema of Cushman & Wakefield represented the seller, Chopp Holdings, in the transaction. Brad Domenico of Progress Capital arranged acquisition financing on behalf of the undisclosed buyer.
LOWELL, MASS. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 90-bed skilled nursing facility in Lowell, a northern suburb of Boston. Located near Lowell General Hospital, the facility has historically maintained stable census levels with a steady stream of referrals and admissions, according to Blueprint. The regional buyer plans to implement a capital improvement program. The seller, price and name of the community were not disclosed.
TOTOWA, N.J. — Illinois-based investment firm Venture One Real Estate and Kovitz Investment Group have acquired a 67,048-square-foot industrial building in the Northern New Jersey community of Totowa. The building at 5 Taft Road, which was fully leased at the time of sale, features a clear height of 20 feet, six exterior docks, two drive-in doors and additional outdoor storage space. Jeffrey Fulton and Ed Schein of Team Resources represented Venture One in the transaction. The seller and sales price were not disclosed.
CHICAGO — Marcus & Millichap has brokered the sale of a 25-unit multifamily property in Chicago’s Streeterville neighborhood for $10.5 million. The property at 227 E. Walton Place rises 13 stories. Designed by Chicago architect Harry Weese, the building was completed in 1956 and designated a Chicago landmark in 2012. Of the 25 units, 24 have been updated, mostly in the last three years. Kyle Stengle, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, Brad Management, which previously worked with the same brokerage team to acquire the property through a condo deconversion in 2018. The buyer, Altitude Capital Partners, plans to modernize the common areas.
DENVER — Broe Real Estate Group has unveiled plans for the second phase of its $200 million Cherry Creek North redevelopment project in Denver. 250 Clayton, an eight-story, 175,000-square-foot mixed-use building, will complement 200 Clayton, the company’s eight-story, 76,000-square-foot first phase. Fully preleased, 200 Clayton is on track for delivery in spring 2023. The Beck Group designed 250 Clayton, which will feature retail space and institutional-quality commercial office space with floor plates as large as 27,000 square feet. Construction of the second phase is scheduled to begin in fourth-quarter 2023.
BURNSVILLE, MINN. — CBRE has arranged the sale of the DuPont Distribution Center in Burnsville, about 15 miles south of downtown Minneapolis. The sales price was undisclosed. The 177,153-square-foot industrial property is fully occupied by four tenants and features fenced and paved outdoor storage. Judd Welliver and Bentley Smith of CBRE represented the seller, Biynah Industrial Partners LLC. Sterling Management was the buyer.
CHICAGO — Transwestern Real Estate Services has negotiated two office leases totaling 36,000 square feet at 191 N. Wacker Drive, a 37-story, 733,759-square-foot building in Chicago’s West Loop. Katie Steele and Kathleen Bertrand of Transwestern represented ownership, Manulife Investment Management. Quinn Emanuel Urquhart & Sullivan, an international business litigation law firm, expanded its lease from 18,864 square feet to 26,300 square feet. Kyle Kamin of CBRE represented the tenant. Maron Marvel Bradley Anderson & Tardy LLC, a national litigation defense law firm, inked a new lease for 10,121 square feet within a spec suite. Jeff Liljeberg of JLL represented the tenant.
CHICAGO — Peak Realty Chicago (PRC) has brokered the sale of a six-unit apartment building in Chicago’s Logan Square neighborhood for $2.7 million. The sales price marks the highest price per unit in the submarket, according to CoStar. A private investor purchased the property, which is located at 2852-54 W. Shakespeare Ave. and has been renovated within the last five years. Oren Pollack of PRC brokered the transaction. At the time of sale, the building was managed by PRC’s affiliate, Peak Properties LLC.
CALIMESA, CALIF. — Birtcher Development has received full entitlement for Birtcher Oak Valley Commerce Center in Calimesa. Construction is currently underway, with completion slated for third-quarter 2024. Totaling 2.25 million square feet, Birtcher Oak Valley Commerce Center will feature four Class A logistics facilities: Building A, a 705,783-square-foot cross-dock facility with 5,600 square feet of office space and 118 dock-high doors. Completion is scheduled for second-quarter 2024. Building B, a 46,172-square-foot side-loaded property with 5,168 square feet of office space and 69 dock-high doors. Completion is slated for second-quarter 2024. Building C, a 457,257-square-foot cross-dock facility with 5,114 square feet of office space and 78 dock-high doors. Completion is expected in early third-quarter 2024. Building D, a 619,358-square-foot cross-dock building with 5,162 square feet of office space and 109 dock-high doors. Completion is scheduled for third-quarter 2024. All four facilities will feature 40-foot clear heights, flat floors, 10-inch slabs, a minimum of 185-foot truck courts and an ESFR sprinkler system. A nine-acre trailer lot will be constructed adjacent to Buildings A and B, providing 250 trailer stalls. Mike McCrary, Peter McWilliams, Patrick Wood and Scott Coyle of JLL are handling leasing for the project.
ROGERS, MINN. — NAI Legacy and NAI Sioux Falls have arranged the $2.4 million sale of a 40,656-square-foot industrial building in Rogers, a northwest suburb of Minneapolis. The multi-tenant property is located at 21040 Commerce Blvd. and sits on three acres. Michael Houge of NAI Legacy and Troy Fawcett of NAI Sioux Falls brokered the transaction. Buyer and seller information was not provided. The existing tenants are now governed by a master lease.