Property Type

AITKIN, MINN. — The Bemidji office of Kraus-Anderson has completed a $70 million surgical addition and expansion at Riverwood Healthcare Center in central Minnesota’s Aitkin. Designed by DSGW Architects, the project features a 72,000-square-foot surgery addition. The hospital’s new surgery space consists of approximately 60,500 square feet of new surgical departments, including six operating rooms, two large procedure rooms, three endoscopy rooms, 25 prep and recovery rooms, a post-anesthesia care unit, sterile processing and staff support. Additionally, there is about 12,000 square feet of clinical space for general surgery, neck, back and spine, urology and ENT, as well as a front entrance and lobby to support the new surgical program. Construction began in August 2022.

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HIGHLAND PARK, ILL. — DINX Social Club has leased space to open its first location at 1931 Skokie Valley Road in the Chicago suburb of Highland Park. The 23,000-square-foot venue is slated to open this winter. DINX will offer six regulation-sized pickleball courts, three Trackman iO golf simulator lounges, a multi-tap self-serve pour wall from Pour My Beer, café food offerings from Hometown Coffee & Juice, dining and social lounges, a VIP room, member locker rooms and a pro shop. Chris Bobowski of Cushman & Wakefield represented DINX in the lease.

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DESOTO, KAN. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Hillside Village, a seniors housing community in DeSoto, about 20 miles southwest of Kansas City. Hillside Village features 38 assisted living units and 27 skilled nursing units, totaling 95 licensed beds. The seller was a local owner exiting the business, and the buyer was a public company based in California. The sales price was undisclosed. Ryan Saul, Nick Cacciabando and Jeff Binder led the transaction for SLIB.

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WYOMING, MICH. — Marcus & Millichap has brokered the $3.3 million sale of Gardentown Apartments in Wyoming near Grand Rapids. The 40-unit multifamily property, built between 1966 and 1968, consists of four buildings. The asset was 90 percent occupied at the time of sale. Chase Gilewski and Chris Futo of Marcus & Millichap represented the seller. Steve Chaben, broker of record in Michigan, assisted in closing the transaction. The buyer is planning to invest significant capital on both interior and exterior renovations. Both the buyer and seller completed 1031 exchanges.

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DES PLAINES, ILL. — First Western Properties has negotiated the sale of a restaurant building located at 1440 Rand Road in the Chicago suburb of Des Plaines. The sales price and seller were undisclosed. The property, located at the corner of Rand and River roads, sold to a restaurant operator with multiple locations.

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3200-E-Glenrosa-Ave-Phoenix-AZ

PHOENIX — A joint venture between Sabal Investment Holdings, 12 North Capital LLC and affiliates of MorningStar Senior Living has purchased MorningStar at Arcadia, a seniors housing property in Phoenix. Located at 3200 E. Glenrosa Ave., MorningStar at Arcadia features 78 assisted living suites across studio, one-bedroom and two-bedroom floorplans and 30 memory care suites. Community amenities include a fitness center, resident game room, outdoor seating area with fire pit, and resident dining room. The buyers plan to implement an improvement program including a cosmetic refresh to common areas, including the main entrance lobby, dining room, theater and other amenity spaces along the reconfiguration of smaller assisted living units to meet local demand for larger and more functional living spaces. Additionally, the buyers plan exterior painting and landscaping improvements. Aron Will and Michael Cregan of CBRE National Senior Housing arranged financing for the acquisition. The seller, price and other transaction details were not released.

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200-202-W-140th-St-Los-Angeles-CA

LOS ANGELES — DAUM Commercial Real Estate Services has arranged the sale of an industrial building in Los Angeles. A private investor acquired the asset from an undisclosed buyer for $14.1 million. Located at 200-202 W. 140th St., the building features 60,457 square feet of industrial space. At the time of sale, the property was fully occupied by local manufacturing tenants. Anthony Bergeman, Michael Chase and Krishna Shegran of DAUM represented the buyer in the deal.

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5120-W-Buckeye-Phoenix-AZ

PHOENIX — Gantry has arranged a $9.9 million permanent loan to facilitate the acquisition of an industrial building located at 5120 W. Buckeye Road in Phoenix. The 127,000-square-foot, multi-tenant warehouse features 30-foot clear heights and 30 loading docks, including four drive-in doors. At the time of financing, the property was fully leased by two tenants. Tim Storey and Chad Metzger of Gantry represented the borrower, a private real estate investor, in securing the seven-year loan from one of Gantry’s correspondent life company lenders. The loan features interest-only terms, prepayment flexibility and a fixed rate.

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640-N-3rd-St-San-Jose-CA.jpg

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of a six-unit apartment property in San Jose. The asset traded between two individual/personal trusts for $1.4 million. Located at 640 North 3rd St., the property features six two-bedroom/one-bath units. The building was built in 1962. Adam Levin, Robert Johnston, Eymon Binesh and Jake Clyne of Marcus & Millichap represented the seller and buyer in the transaction.

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TUCSON, ARIZ. — Friends of Pima Animal Care Center has acquired 5,060 square feet of retail space at 2661 N. 1st Ave. in Tucson from Patrick Loop for $1.2 million. Kameron Norwood and Dave Hammack of Cushman & Wakefield | PICOR represented the seller, while Paula Valencia of RE/MAX Results Commercial represented the buyer in the transaction.

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