MARGATE, FLA. — Marcus & Millichap has arranged the $12.7 million sale of Life Storage, a 64,629-square-foot self-storage facility located at 5185 Coconut Creek Parkway in Margate, a city in Broward County. Brett Hatcher and Gabriel Coe of Marcus & Millichap arranged the transaction on behalf of the seller and procured the buyer. Both parties were undisclosed limited liability companies.
LOGANVILLE, GA. — Bull Realty has brokered the $7.3 million sale of Piedmont Medical Health Center, a 15,000-square-foot medical office building in Loganville, located roughly 35 miles east of Atlanta. Paul Zeman of Bull Realty arranged the transaction. Other terms of the deal were not disclosed. Atlanta-based Piedmont Healthcare operates a women’s healthcare clinic and a gastroenterology clinic at the facility, which also includes an endoscopy/surgery center.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has arranged the $6.2 million sale of two-property retail portfolio in Richmond. The first asset, Tower Plaza, totals 22,580 square feet and was 91 percent leased at the time of sale. The center is home to tenants such as El Paso Mexican Restaurant, Sherwin Williams and Organic Cleaners. The second property, Rockwood Plaza, was fully leased at the time of sale. The 38,954-square-foot retail center houses tenants such as Wolfgang’s Gym, Ballroom Dance Center and Antioch Christian Church. Catharine Spangler, Calvin Griffith and Richard Thalhimer of Cushman & Wakefield | Thalhimer represented the seller in the transaction. Other terms of the deal were not disclosed.
PROSPECT HEIGHTS, ILL. — Cushman & Wakefield has arranged the sale of The Grandbrier at Prospect Heights, a 101-unit assisted living and memory care community in suburban Chicago. The sales price was not disclosed. A joint venture between Virtus Real Estate Capital and Pathway to Living acquired the asset. Built in 2017, the property features 69 assisted living units and 32 memory care units. Amenities include an outdoor terrace, theater, living rooms and lifestyle programming. Oz Real Estate was the seller.
CHICAGO — Marcus & Millichap has brokered the sale of a four-story loft office building in Chicago’s West Loop for $13.1 million. The 30,620-square-foot building is located at 1027-1031 W. Madison St. Schafer Condon Carter (SCC), an independent creative and technology agency, occupies floors two through four. CrossTown Fitness and Madison Bar + Kitchen occupy the first floor. Built in 1872, the historic property underwent a $4 million renovation in 2011 to restore the façade and modernize the interiors. Stephen Lieberman of Marcus & Millichap represented the seller, a private partnership including principals of SCC. The company will remain a tenant at the building as part of a sale-leaseback agreement. Lieberman also procured the New York-based buyer.
LAWRENCE, KAN. — Dougherty Mortgage has provided an $8.3 million Fannie Mae loan for the acquisition of a two-property apartment portfolio in Lawrence, located about 42 miles southwest of Kansas City. The portfolio includes Sunrise Village and Sunrise Place for a total of 132 units. The 12-year loan features a 30-year amortization schedule. The borrower was a venture between MJP Property Group and Sky Castle Properties.
FARGO, N.D. — The Boulder Group has arranged the sale of a single-tenant property net leased to Insurance Auto Auctions Inc. in Fargo for $5.7 million. The property is situated on 19 acres next to Hector International Airport. There are over 17 years remaining on the lease, which expires in November 2035. Randy Blankstein and Jimmy Goodman of Boulder brokered the sale. An institutional investor purchased the asset from a Southwest-based private developer.
LAWRENCE, KAN. — Block & Co. Inc. Realtors has arranged the sale of an 83,217-square-foot retail center in Lawrence for an undisclosed price. The property, formerly a JC Penney store, was recently redeveloped into a multi-tenant center. Tenants include Hobby Lobby, Five Below and HomeGoods. An undisclosed buyer purchased the asset from 3311 Iowa Investors LLC as part of a 1031 tax-deferred exchange.
CHANDLER, ARIZ. — San Diego-based MG Properties Group has purchased Country Brook Apartments, a multifamily property located at 4909 W. Joshua Blvd. in Chandler. An undisclosed seller sold the property for $74 million. The 396-unit community features three resort-style swimming pools with outdoor televisions and shade sails, two whirlpool spas, gas barbecues, a picnic area and ramadas surrounded by landscaping. The apartments feature in-unit washers/dryers and an average size of 936 square feet. Cindy Cooke and Brad Cooke of Colliers International handled the marketing and sale transaction.
SAN DIEGO — Orange County, Calif.-based Sukut Real Properties has acquired Mira Mesa Distribution Center, a multi-building distribution park located in San Diego’s Sorrento Mesa submarket. The Sickels Group sold the property for an undisclosed price. The property resides on a ground lease, which has approximately 68 years remaining. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Dean Asaro and Brant Aberg of Cushman & Wakefield’s San Diego and Orange County offices represented the seller in the deal. Located at 5960 Pacific Mesa Court and 5985 and 5995 Pacific Center Blvd., Mira Mesa Distribution Center comprises three buildings totaling 293,800 square feet. Developed in 1989, the campus features flexible divisibility options, efficient warehouse and office layouts, dock and grade loading and ample parking. At the time of sale, the property was fully leased to 10 national and international tenants.
