Property Type

BRIDGETON, MO. — McGrath & Associates has completed a $5.6 million renovation of the St. Louis Heart and Vascular Center in the northwest suburb of Bridgeton. The high-tech ambulatory surgery center and medical office facility is located at 3550 McKelvey Road. McGrath completed renovations at the existing 21,000-square-foot building, such as installing a new exterior skin. The construction also included the removal of roof overhangs and raising the parapet walls to increase the building height. The interior of the facility was fully renovated. The first floor features a catheterization lab/operating room with pre- and post-op recovery rooms, which double as sleep study rooms. The second floor includes the cardiac physicians’ offices and exam rooms, as well as a PET/CT scanner. The Marcus Organization was the developer. Bates Associates was the local architect, Innersite was the interior designer and Vanderweil Engineering served as the engineer.

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CHANNAHON, ILL. — Industrial Outdoor Ventures (IOV) has acquired an 18.9-acre truck and container yard in Channahon near Joliet. The purchase price was not disclosed, but the asking price was $8 million. Cavalea Continental Freight Inc., the seller, built the property in 2006 to be used as an intermodal container storage facility for customers moving ocean freight through the southwest suburban intermodal rail yards. The property is located at 23264 Youngs Road and includes a maintenance shop and office building. IOV plans to make some improvements to the asphalt and office space. Dan McGillicuddy and Steve Ostrowski of JLL represented the seller in the transaction. IOV has retained Josh Hearne of Cawley Chicago to market the property for lease.

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SCHAUMBURG, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of the Shoppes at Prime Village in Schaumburg for $2.3 million. The 9,949-square-foot retail center is located at 1414-1424 E. Algonquin Road. A Chicago-based private real estate investor purchased the property. The seller was an undisclosed prominent property owner from the Chicagoland area. Chad Firsel of Quantum represented the seller in the transaction.

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LEAWOOD, KAN. — CycleBar has signed a long-term lease for 2,400 square feet in Town Center Plaza in Leawood. The facility, now open, is the indoor cycling fitness studio’s first location in the greater Kansas City area. CycleBar is located at 5053 W. 117th St. Founded in 2004, the indoor cycling franchise offers a variety of cycling classes at over 200 locations nationwide. David M. Block and Max DiCarlo of Block & Co. Inc. Realtors negotiated the lease transaction on behalf of CycleBar.

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LAS VEGAS — ACVII-Hacienda LLC has acquired the 252-unit Conejo Villas Apartment Homes in Las Vegas for $28.5 million. The community is located at 5060 W. Hacienda Ave. Conejo Villas was built in 1999. The community offers covered parking, a pool with a sundeck and spa, and a fitness center. Robin Willett, Antone Brazill, Devin Lee and Jerad Roberts of Northcap Multifamily represented the buyer.

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MESA, ARIZ. — Inco Real Estate Co. has acquired the 320-unit Fiesta Park Apartments in Mesa for $20 million. The community is located at 1033 S. Longmore Road. The 10-building asset was built in 1979. It was 93 percent leased at closing. Amenities include covered parking, a clubhouse and a playground. Mark Forrester and Ric Holway of Berkadia-Phoenix represented Inco. Bill Hahn, Jeff Sherman and Trevor Koskovich of Colliers International represented the seller, BH Properties, in this transaction.

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CAMARILLO, CALIF. — Lady’s Slipper 1031 LLC, a private investor, has acquired a 113,000-square-foot industrial building in Camarillo for $12.8 million. The building is located at 750 W. Ventura Blvd. along the Highway 101 corridor. Bob Tuler of Radius Commercial Real Estate and Investments represented the buyer. Mike Catalano and Craig Newlands of Savills Studley represented the seller, Sentinel Properties, in this transaction.

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LOS ANGELES — A joint venture between Zion Enterprises and TA Partners has purchased a 1.3-acre development site in downtown Los Angeles for an undisclosed sum. The site is situated on Grand Avenue and Cesar Chavez Avenue. The land is entitled for a 22-story, 299-unit multifamily tower with 8,000 square feet of ground-floor retail. The JV received development entitlements during escrow. CBRE’s Laurie Lustig-Bower and Kamran Paydar represented the seller, an affiliate of locally based Cimmarusti Holdings, in this transaction.

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HAYWARD, CALIF. — EP Container Corp. has renewed its lease for an 18,000-square-foot industrial warehouse/distribution facility in the East Bay submarket of Hayward. The facility is located at 1672 Delta Court. The property is situated within a larger multi-tenant warehouse space that features office space, dock-high and drive-in loading access, ample parking and significant power. Kate Webster of Cushman and Wakefield represented the renter. Greig Lagomarsino and Rick Keely of Colliers International represented the landlord, MIREF Delta Court LLC, in this transaction.

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WEBSTER, N.Y. — KeyBank Real Estate Capital has provided a $24.8 million Freddie Mac first mortgage loan for Waverlywood Apartments & Townhomes in Webster. The 361-unit multifamily property was built in 1974 and underwent $1.5 million in renovations over the past five years. Upgrades included new carpeting, floor tiling, appliances and boilers. Dirk Falardeau of Key’s Commercial Mortgage Group arranged the non-recourse loan with a seven-year term, two years of interest only and a 30-year amortization schedule. The loan was used to refinance existing debt.

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