OKLAHOMA CITY — Tampa-based SkyView Advisors has brokered the sale of A&W Storage, a 467-unit self-storage facility located at 4800-4900 S. Sunnylane Road in Oklahoma City. The property is situated on 5.2 acres and spans 88,020 net rentable square feet. Richard Riddle, Ryan Clark and Zack Urow of SkyView Advisors represented the locally based seller in the transaction. The buyer was an undisclosed institutional investor.
HOUSTON — Seniors housing operator Civitas Senior Living and developer StoneCreek Real Estate Partners will redevelop the Copperfield Racquet & Health Club, a 98,000-square-foot seniors housing community in Houston. The new property, which will be branded StoneCreek of Copperfield, is situated on 6.6 acres and will feature 12 independent living villas, 74 assisted living units and 18 memory care units. Project partners include Pi Architects and interior design firm Senior By Design. Ground-up construction is planned to begin this month and to be complete by summer 2022.
SAN DIEGO — A publicly traded REIT has acquired Torrey Hills Medical Plaza, a Class A medical office building and attached parking garage in San Diego. Virtus Real Estate Capital and Coast Income Properties sold the property for $37.3 million. Situated on 2.6 acres at 4765 Carmel Mountain Road, the 47,596-square-foot asset features a connected, two-level parking garage. Fresenius Medical Care anchors the two-story building, which is 91 percent leased. Andrew Milne, Evan Kovac, Trent Jemmett, Paul Braun, Chris Ross and Kelly Moriarty of JLL Healthcare Capital Markets represented the seller in the transaction.
SAN DIEGO — Petco ended its first day of trading on Nasdaq on Thursday at $29.40 per share, 63 percent higher than its initial public offering (IPO). The San Diego-based pet care retailer is trading under the stock symbol WOOF. Petco priced its IPO at $18 per share, and the stock price opened at $26 per share Thursday. Petco operates more than 1,500 stores in the United States, Puerto Rico and Mexico and sells food, toys and healthcare needs for a variety of pets. Additionally, more than 100 Petco locations offer in-store veterinary services.
NORTH LAS VEGAS, NEV. — Panattoni Development has completed North 15 Logistics, a 550,601-square-foot industrial project on 30 acres at the intersection of Interstate 15 and Speedway Boulevard in North Las Vegas. North 15 Logistics features two buildings with up to 36-foot clear heights, ESFR sprinkler systems, R-30 roof batt insulation and concrete truck courts. The tenant improvements are now complete, and Ruby Has occupies 373,363 square feet at the project. With six warehouse locations across the United States and Canada, Ruby Has offers third-party logistics using technology and integration to allow for faster shipping and a reduction in freight costs. A comingled fund managed by Clarion Partners owns the project, with Panattoni Development serving as developer. Alston Construction served as contractor and HPA Architecture served as architect.
TOLLESON, ARIZ. — Stos Partners has purchased a single-tenant industrial property located at 10300 W. Buckeye in Tolleson. A private seller sold the asset for $16.3 million in an off-market transaction. The acquisition marks Stos Partners’ entrance to the metro Phoenix market. Built in two phases in 2005 and 2016, the 227,000-square-foot property features 32-foot clear heights and dock-high loading doors. At the time of sale, an undisclosed tenant fully occupied the building. Bob Broyles of Colliers International and Jeff Hays of Commercial Properties represented the buyer and seller in the deal.
RANCHO CUCAMONGA, CALIF. — Avison Young has arranged the acquisition of a single-tenant industrial building, located at 8767 Rochester Ave. in Rancho Cucamonga. An Orange County-based private investor purchased the asset from a local private owner for an undisclosed price. Built in 1989 on nearly two acres, the 45,702-square-foot building features 24-foot clear heights, eight dock-high loading doors and a partial second-floor office. Alan Pekarcik and Chris Smith of Avison Young represented the buyer, while Ryan Velasquez and Milo Lipson of Cushman & Wakefield represented the seller in the transaction.
PHOENIX — Ready Capital has closed $8 million in financing for the acquisition, renovation and stabilization of a multifamily community in Phoenix. Situated in the Paradise Valley submarket, the Class C property features 80 apartments. David Cohen of Ready Capital handled the financing for the undisclosed borrower. Further details were not disclosed.
EAST WINDSOR, N.J. — National Tree Co., a New Jersey-based provider of decorative Christmas items, has signed a 608,442-square-foot industrial lease in East Windsor, a suburb of Trenton. The tenant will occupy the entirety of the building at 150 Milford Road, which is owned by Nevada-based Dermody Properties, for the next seven years. Andrew Warren with Atlantic Real Estate Services represented National Tree Co. in the lease negotiations. Mindy Lissner of CBRE represented the landlord.
LYNN, MASS. — A partnership between Boston-based investment firm A.W. Perry and Novaya Real Estate Ventures has acquired a 250,000-square-foot industrial facility located in the northern Boston suburb of Lynn. The sale included an adjacent 10-acre parcel, an assemblage that formerly housed a manufacturing operation for dairy producer Garelick Farms. Now called Lynnway Park, the facility houses 60,000 square feet of cold storage space and can also support light industrial and biomanufacturing uses. Cushman & Wakefield represented the seller, Dean Foods, and procured the buyer in the transaction.