SANTA FE SPRINGS, SYLMAR, OCEANSIDE, NATIONAL CITY AND SANTA ANA, CALIF. — Rexford Industrial Realty has acquired two industrial facilities for $27.6 million and completed the disposition of three properties for $44.2 million. The acquisitions were funded using cash on hand. Rexford purchased 12133 Greenstone Ave. in Santa Fe Springs for $5.5 million, or $26 per land square foot, through an off-market transaction. The single-tenant container storage facility features a 12,586-square-foot truck terminal building on 4.8 acres with excess land serving as truck parking. At the time of sale, the property was fully leased on an agreement that is slated to expire in the near-term. The company also acquired 12772-12746 San Fernando Road in Sylmar for $22.1 million, or $78 per land square foot. The facility comprises a 6.5-acre development site currently containing two legacy industrial buildings totaling 140,840 square feet. Following a short-term lease period, Rexford plans to demolish the existing buildings and develop a 145,000-square-foot, single-tenant, Class A industrial building on the site. Rexford sold a single-tenant vacant building at 3927 Oceanic Drive in Oceanside for $10.3 million, or $188 per square foot, and a multi-tenant building located at 121 W. 33rd Street in National City for $13.5 …
COMMACK, N.Y. — Planet Fitness has signed a 20,000-square-foot retail lease at Mayfair Shopping Center, a 221,000-square-foot power center located in the Long Island city of Commack. A 60,000-square-foot Best Market grocery store anchors the property, which also houses tenants such as Rite Aid, Capital One Bank, Sherwin-Williams and Verizon Wireless. E.J. Moawad of New Jersey-based Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Jack Chera of Crown Retail Services represented Planet Fitness.
SALEM, ORE. — Los Angeles-based Trojan Storage has acquired Hawthorne Mini Storage in Salem from a private investor for $8.3 million. Nick Walker, Trevor Roberts and Morgan Windbiel of CBRE represented the seller in the deal. Located at 1241 Hawthorne Ave. NE, the 99,435-square-foot property offers 654 self-storage units ranging in size from 25 square feet to 750 square feet. Additionally, the facility features covered RV and boat parking. The property consists of 14 single-story and two-story buildings and features a gated entrance with key-code access, 24-hour video surveillance cameras, climate-controlled units and an on-site manager.
AURORA, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a multifamily property located at 15500 E. 13th Ave. in Aurora for $3.1 million, or $110,714 per unit. The names of the seller and buyer were not released. At the time of sale, the 28-unit building was 18 percent vacant. The property was built in 1972. Josh Newell, Bart Thompson and Jesse Allen of the Newell Team at Pinnacle Real Estate Advisors represented the seller and buyer in the deal.
ROMEOVILLE, ILL. — Colliers International has arranged the sale of a 648,960-square-foot distribution center occupied by Samsung in Romeoville. The Class A facility is located within Pinnacle Business Center, just south of the full interchange at I-55 and Weber Road. Samsung has occupied the building since 2012 and uses the facility as its primary Chicago-area distribution center for all appliance lines. Samsung recently renewed its lease. Jeff Devine and Steve Disse of Colliers represented the seller, LaSalle Investment Management. Exeter Property Group purchased the asset for an undisclosed price.
FORSYTH, ILL. — A New York-based partnership between Mason Asset Management, Namdar Realty Group and CH Capital Group has acquired Hickory Point Mall in Forsyth, about 45 miles east of Springfield. The 826,347-square-foot mall opened in 1978. Anchor tenants include Kohl’s, Von Maur, TJ Maxx, Hobby Lobby, Ulta Beauty and Ross Dress for Less. Eastdil brokered the transaction. CBL & Associates was the seller, according to local media reports. Elliot Nassim, president of Mason Asset Management, says the new owners are exploring all options to redevelop some of the vacant spaces at the property.
BARTLETT, ILL. AND PHOENIX, ARIZ. — NAI Hiffman has negotiated the sale of a three-building industrial portfolio in Bartlett, a western suburb of Chicago, and Phoenix. The GSI Family Office, along with Greco/DeRosa Investment Group, sold the portfolio to a discretionary fund managed by CBRE Global Investors. The properties include: 1323 Brewster Creek Blvd. and 1550 Hecht Drive in Bartlett; and 4450 N. 45th Ave. in Phoenix. They are home to seven tenants. Pat Sullivan, Ryan Chambers and Jeff Fischer of NAI Hiffman represented the seller. Tony Lydon and John Lydon of JLL assisted in the sale of the Phoenix property. Built in 2017, 1323 Brewster Creek Blvd. spans 421,354 square feet and features 48 docks, 800 car parking spaces and a clear height of 32 feet. It was the first building in Brewster Creek Business Park, which is now home to more than 1 million square feet of food-related tenants. Built in 2006, 1550 Hecht Drive serves as the headquarters for Greco Foods. The 209,628-square-foot warehouse offers an office and cold storage component. The Phoenix asset, built in 2017, spans 368,478 square feet.
AURORA AND ELGIN, ILL. — Bauman & Co. LLC, an Atlanta-based real estate firm, has acquired three medical office buildings in Aurora and Elgin. Two of the buildings are situated on the AMITA Health Saint Joseph Hospital Elgin campus while the third is located on the AMITA Health Mercy Medical Center Aurora campus. The assets collectively total 125,000 square feet. Renovations to the common areas are slated to start this quarter. Bauman plans to make multiple improvements, including flooring, wall coverings, restrooms, signage, electronic directories and lighting. Local medical office specialist O’Donnell Commercial Real Estate Inc. will be in charge of leasing. Neither the seller nor the sales price was disclosed.
MINNESOTA AND NORTH DAKOTA — The LeClaire-Schlosser Group of Marcus & Millichap has brokered the sale of the Storage Max Portfolio, a seven-property self-storage portfolio located across Minnesota and North Dakota. The portfolio totals 382 non-climate-controlled units and 48,710 net rentable square feet. Chris Kampmeyer and Adam Schlosser of Marcus & Millichap’s Denver office marketed the portfolio on behalf of the seller, a local limited liability company. Neither the buyer nor the sales price was disclosed.
SAN FRANCISCO — Chicago-based REIT Ventas Inc. (NYSE: VTR), through its Life Sciences and Healthcare Real Estate Fund, has acquired an 800,000-square-foot life sciences campus in San Francisco for roughly $1 billion. The San Francisco Business Journal reports that the property is the Genesis South office and life sciences hub, which consists of two office and lab buildings totaling roughly 720,000 square feet, as well as a 72,000-square-foot building. The Class A campus is located on the city’s south side and consists of three newly built or renovated buildings. The campus was 96 percent leased at the time of sale with a weighted average lease term of more than six years. The property is purpose-built for advanced research functions and is predominantly features lab space supporting biotechnology and other life sciences research. Nearly half of the tenant roster consists of publicly traded companies with market capitalizations of $10 billion or higher that are backed by venture capital or private equity firms. The price represents a capitalization rate of approximately 5 percent. The seller was a partnership between Boston-based Bain Capital and San Diego-based Phase 3, according to IPE Real Assets, which provides global intelligence for institutional real estate investment. In …