VENTURA, CALIF. – A 43,138-square-foot building in Thousand Oaks that is triple-net leased to Orchard Supply Hardware has sold to Oppidan Investment Company for $16.7 million. The building is located at 1934 E. Avenida de Los Arboles. Christopher Maling, David Maling and Stephen Algermissen of Colliers represented both the buyer and seller, a local private investment firm, in this transaction.
POMONA, CALIF. – Universal Shipping has leased 142,000 square feet of space at the Chino Crossroads Business Park in Pomona. The lease is valued at $9 million. The space is located at 2855 S. Reservoir Street. The third-party logistics provider is currently expanding its presence in the U.S. and abroad. The company was represented by Barry Saywitz of the Saywitz Company. The landlord, Northwestern Mutual Life Insurance and Financial Service, was represented by Bill Budge of William A. Budge Inc.
CHANDLER, ARIZ. – The Siegel Group has purchased the 355-room Legacy Suites in Casa Grande for $8.3 million. The extended-stay hotel is located at 540 Cacheris Court. The Class A building was constructed in 2008. This was the firm’s first acquisition in Arizona. The seller, a large developer in Arizona, was represented by ABI Multifamily’s Rue Bax, Alon Shnitzer, Eddie Chang, John Kobierowski, and Doug Lazovick.
GLENDALE, ARIZ. – A 120,000-square-foot industrial manufacturing facility in Glendale has sold to AMERCO Real Estate Company for $5.7 million. AMERCO is a provider of real estate and development services for U-Haul. The facility is located at 6112 N. 56th Ave. AMFORM will occupy the building. It will allow the manufacturing division for U-Haul to triple in size from its present facility in Glendale. AMFORM plans to occupy building in about six months. David Wilson of Daum Phoenix represented both the buyer and the seller, American Park ‘n Swap, in this transaction.
PALM DESERT, CALIF. – Money360 has closed a $3.1 million loan for a commercial property in Palm Desert. The two-year loan was funded by institutional and accredited investors. It financed the existing debt on a multi-tenant commercial office building. The funds also provided the borrower the cash that will be used for other capital needs. The loan was secured by a first trust deed. The borrower also personally guaranteed the loan. Money360 is the first peer-to-peer lending platform for real estate loans, matching worthy commercial real estate borrowers with institutional and accredited private investors.
PLYMOUTH, MINN. — CPA:18 – Global, a non-traded REIT managed by W. P. Carey Inc., has acquired a 208,900-square-foot warehouse and distribution facility in Plymouth. A private investment group sold the property for $17 million. The facility is net leased to Core-Mark International, a subsidiary of Core-Mark Holding Company Inc., for a period of 13 years. Originally constructed in 1975, the facility has been expanded twice and features more than 23,000 square feet of cooler/freezer storage space. The seller is contributing $1 million for tenant improvements to the office space and to enhance the HVAC and lighting of the warehouse.
TOPEKA, KAN. — Mainstreet has broken ground on The Healthcare Resort of Topeka. Located at 6202 SW 6th Ave. in Topeka, the 69,935-square-foot facility will feature 96 beds and provide short-stay rehabilitation and therapy care, as well as assisted living. On-site amenities will include a therapy gym, an outdoor rehabilitation courtyard, movie theater, game room, spa and on-site chef. Slated to open by spring 2016, the $16 million project will bring 225 construction jobs and 90 permanent jobs to the area. Carmel, Ind.-based Mainstreet develops, finances and jointly operates transitional care centers and long-term health care properties.
STRONGSVILLE, OHIO — Marcus & Millichap has brokered the sale of Strongsville Shopping Center, a 30,750-square-foot retail property in Strongsville, a suburb of Cleveland. The asset, which is anchored by Tutor Time, sold for $3.9 million. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap represented the seller, a Florida- and Ohio-based joint venture, in the transaction.
LAFAYETTE, IND. — Chicago-based Baum Realty Group has arranged the sale of a single-tenant, net-leased Goodrich Quality Theaters property. Located at 3525 McCarty Lane in Lafayette, the property sold for $2.4 million. The 18,000-square-foot property has three years remaining on the original 20-year lease with two five-year extension options. Goodrich Quality Theaters is a Michigan-based operator with 30 theater locations across four states. Brad Teitelbaum and Patrick Forkin of Baum represented the undisclosed seller in the transaction. The buyer was a Michigan-based private investor.
LANSING, MICH. — Signature Associates, an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of a self-storage facility, located at 4724 Creyts Road in Lansing. Storage Pros Acquisitions purchased the 71,900-square-foot property for an undisclosed price. Jack Johns of Cushman & Wakefield | Signature Associates represented the seller, Westland Storage LLC, in the transaction.
