WEST HOLLYWOOD, CALIF. — NAI Capital has arranged the sale of a retail property located at 8126 Beverly Blvd. in West Hollywood. Los Angeles-based investor Arash Denialifar acquired the property from Hamilton Properties for $7.5 million, or $852 per square foot. Previously occupied by Environment Furniture, the 8,800-square-foot property features a private parking lot. Ian Strano of NAI Capital’s Westwide office represented the seller and buyer in the transaction.
OXNARD, CALIF. — Marcus & Millichap has brokered the sale of ground lease for 480 N. Rose Ave. in Oxnard. A limited liability company sold the property to a private investor for $2.82 million. The 3,000-square-foot property is net-leased to Carl’s Jr. Lior Regenstreif of Marcus & Millichap represented the seller and buyer in the transaction.
SAN FERNANDO VALLEY, CALIF. — Colliers Retail Foresight has arranged a lease for restaurant space at North Hills Vallarta Center in San Fernando Valley. Stinkin Crawfish will occupy 3,750 square feet of space at the 61,000-square-foot neighborhood shopping center. James Rodriguez, Michael Bohorquez and Bradley Pagnone of Colliers Retail Foresight represented the undisclosed landlord in the lease.
BOSTON — Paradigm Properties and Alcion Ventures have completed the sale of 101 Tremont, an office and retail building in downtown Boston. GLL Real Estate Partners acquired the property for an undisclosed price. Robert Griffin, Edward Maher and Matthew Pullen of NGKF Capital Markets represented the seller in the transaction. The 11-story building recently underwent extensive base building and tenant area improvements that transformed the asset into a mixed-use property. At the time of sale, the property was 100 percent leased to three innovative healthcare firms and a variety of on-site retailers, including Beantown Pub, Hollywood Nails, Silvertone and Ziggy’s Coffee Bar.
LONG ISLAND, N.Y. — G&S Investors has completed the sale of ShopRite at Bay Shore, a single-tenant retail property located in Bay Shore on Long Island. A joint venture partnership between Mattone Group and Gartenstein Properties acquired the 60,000-square-foot property for $30 million. Situated on 10 acres at 1905 Sunrise Highway, the property is triple-let leased to ShopRite. Jeffrey Julien and Jose Cruz of HFF represented the seller in the transaction. The asset was purchased free and clear of existing debt.
WHITEHALL, PA. — PH Retail, an affiliate of a Post Brothers, has completed the sale of a restaurant property, located at 2610 MacArthur Road in Whitehall, for an undisclosed price. The 4,815-square-foot property is occupied by Chick-fil-A under a triple-net lease. The name of the buyer was not released. PH Retail originally acquired the property in February 2015 after it had fallen into disrepair following the departure of a prior restaurant. The company led the demolition of the existing structure and secured approvals for the development of the new freestanding Chick-fil-A building.
ALLEN, TEXAS — Capital Pacific has represented the seller of an El Pollo Loco located at 386 E. Stacy Road in Allen. The property was sold for $3.2 million to an all-cash investor from California utilizing a 1031 tax-deferred exchange. The El Pollo Loco is on a 20-year net lease with rent increases every five years.
CHARLOTTE, N.C. — Crosland Southeast and Childress Klein have purchased an 8.5-acre site on Providence Road in south Charlotte from Crescent Communities. The joint venture plans to develop several single-tenant and multi-tenant retail buildings on the site. The site is adjacent to the planned Crescent Providence Farm apartment development and in close proximity to Waverly, a master-planned project that Crosland Southeast and Childress Klein are co-developing. Crosland Southeast and Childress Klein are partnering with the Matthews family on the project.
NAPERVILLE, ILL. — Inland Private Capital Corp., through its subsidiary that serves as asset manager, has facilitated the sale of Freedom Commons, located at 1703-1847 Freedom Drive in Naperville, for an undisclosed sum. The 81,760-square-foot retail center is occupied by a variety of tenants, including AthletiCo Physical Therapy, Maggiano’s Little Italy, Morton’s the Steakhouse and Old Town Pour House. The name of the buyer was not released.
LEXINGTON, OHIO — Marcus & Millichap has arranged the sale of Turn Key Storage, a self-storage facility located at 1435 Orchard Park Road in Lexington. An individual/personal trust sold the property to a limited liability company for $1.8 million. Brett Hatcher and Joseph Holloway of Marcus & Millichap represented the seller and the buyer in the transaction. Situated on 5.7 acres, the 48,900-square-foot property features 352 units with 54 expansion-ready units. Facility amenities include steel roll-up doors, paved drives throughout, 24-hour video surveillance and digital gate access.
