CICERO, ILL. — Cawley Chicago has arranged the sale of a 130,000-square-foot manufacturing facility in Cicero for an undisclosed price. The property sits on more than three acres at 4620 W. 19th St. Frank Melchert and Matt Garland of Cawley Chicago represented the seller, a private individual who had operated a business at the property for 31 years. Local business and metal fabricator Accurate Perforating Co. was the buyer.
FORT WAYNE, IND. — Caliber Collision and Starbucks have signed leases to open at Southtown Centre in Fort Wayne. Caliber Collision will open a store at 7851 Southtown Crossing, marking its second location in Fort Wayne. Starbucks will lease a 2,225-square-foot building set to be constructed later this year at 7800 S. Anthony Blvd. Barry Sturges, Neal Bowman and Phil Hagee of Sturges Property Group represented Caliber Collision. Sturges worked with the Fort Wayne Redevelopment Commission and the developer, The Elia Group, on the Starbucks deal.
ROCKVILLE AND WESTMINSTER, MD. — Tryko Partners has purchased two skilled nursing and assisted living real estate properties in Maryland, including Brighton Gardens of Tuckerman Lane in Rockville and Sunrise of Carroll in Westminster. The sales price and seller for the portfolio were not disclosed. Developed in 1998, Brighton Gardens of Tuckerman Lane is a 140-bed assisted living and skilled nursing community. Tryko will rename the property’s two components to The Terraces at Tuckerman Lane and Tuckerman Rehabilitation & Healthcare Center. Renovations to the property are planned, including the construction of a secure memory care unit. Located at 45 Washington Road, Sunrise of Carroll is a 62-bed assisted living and memory care community that was renamed The Terraces at Westminister. Built in 1999, the two-story structure was originally a historic mansion. The facility is situated close to the Westminster Senior Center and Carroll Hospital.
HOMESTEAD, FLA. — Sprouts Farmers Market, a Phoenix-based grocery chain, is opening a 20,000-square-foot store in Homestead on April 1. Located at 2631 NE. 10th Court, the store will be situated near other retailers and restaurants including T.J. Maxx, Planet Fitness, Menchie’s Frozen Yogurt, Ross Dress for Less, Olive Garden Italian and LongHorn Steakhouse. The store location is also about 31 miles south of Miami. Sprouts plans to hire 100 full and part-time employees at the Homestead store. Employment opportunities include department managers, assistant department managers, clerks, cashiers, courtesy clerks, backup receivers, administrative coordinators and scan coordinators. Sprouts offers competitive pay, team member discounts and career advancement opportunities. The grocer employs approximately 31,000 team members and operates more than 370 stores in 23 states nationwide.
LAS VEGAS — SR Construction has completed work on Silverado Red Rock, a memory care community in Las Vegas. This single-story, 36,381-square-foot property features 60 resident rooms and 72 resident beds. The community will welcome its first residents on March 14. This is the second community that SR has built for Silverado.
SAN JOSE, CALIF. — Northmarq has arranged $35 million in refinancing for a seven-building industrial asset located at 1100-1070 Commercial St. in San Jose. Built in 1995 on 18.6 acres, the property features 337,585 square feet of industrial space with one-third warehouse space, one-third light industrial and one-third incubator space. John Kerslake and Briana Harney of Northmarq’s San Francisco debt/equity office secured the 10-year, interest-only loan for the borrower through the firm’s correspondent relationship with a life insurance company.
TUKWILA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $23.4 million acquisition loan for Park Place, a regional strip mall located at 17501 Southcenter Parkway in Tukwila. Ray Allen of IPA’s Seattle office secured the 10-year financing, which features a loan-to-value ratio of 65 percent and a 3.5 percent interest rate, for the undisclosed tenant. Built in 1996, the property features 153,454 square feet of retail space. Current tenants include JoAnn Fabrics, K&G, HomeGoods, Ashley Homestore and PetSmart. The buyer and seller were not disclosed.
LAGUNA NIGUEL, CALIF. — Faris Lee Investments has negotiated the sale of La Paz Shopping Center in the Orange County city of Laguna Niguel. Carson Cos. sold the asset to an Orange County-based private investor for $14.1 million. Scott DeYoung, Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller and the buyer in the deal. Located at 460 S. Lake Ave., the property features 35,302 square feet of retail space. Current tenants include Walgreens and Wild Fork Foods, a meat and seafood market. The multi-tenant asset also had vacant suites at the time of sale.
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.
TOLEDO, OHIO — Welltower Inc. (NYSE: WELL), a Toledo-based healthcare REIT, has agreed to acquire 33 seniors housing communities totaling 2,787 units in Michigan, Ohio and Tennessee. The purchase price is $548 million. The communities will be acquired as three separate portfolios from undisclosed sellers. The communities were available for purchase because the lease-up process was heavily damaged by the onset of the COVID-19 pandemic. With occupancy at only 63 percent, Welltower expects the communities will greatly improve their performance in 2023 and beyond. Welltower will install Michigan-based senior living operator StoryPoint to manage the communities under a RIDEA agreement. The acquisition is expected to be funded through the issuance of partnership units, assumed debt and cash on-hand. Simultaneously with the acquisition announcement, Welltower unveiled a development partnership with a joint venture between Related Cos. and Atria Senior Living to develop two seniors housing communities in Silicon Valley. One will be located in Santa Clara and the other in Cupertino. Welltower suggests these developments are just the first projects of many for the partnership. The Santa Clara development will consist of 191 units next to a fully entitled, 9.2 million-square-foot urban development that Related began building in 2015. The larger project, …