PLANO, TEXAS — Marcus & Millichap has arranged the sale of 18th Street Office, an office property situated on 2.5 acres at 651-671 E. 18th St. in Plano. Built in 1972, the property consists of three suites totaling 28,363 square feet. Ron Hebert and Joe Santelli of Marcus & Millichap represented the seller in the transaction. Both the buyer and the seller were private investors.
DALLAS — EDGE Realty Capital Markets has brokered the sale of Westridge Apartments, a 124-unit multifamily property located at 2107 W. Ledbetter Drive on Dallas’ south side. Mart Martindale and John Mungioli of EDGE represented the seller, Edgewood Holdings LLC, in the transaction. Jon Krebbs of SVN represented the undisclosed buyer.
CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has negotiated the sale of 18 skilled nursing facilities located throughout the Midwest for $82 million. The portfolio included nine properties in Kansas, six in Missouri, two in Iowa and one in Nebraska. The specific names and locations of the properties were not disclosed. The regional portfolio comprises 1,843 total licensed beds and generated approximately $110 million in revenue on a trailing basis at the time of sale. Most of the facilities are situated in suburban neighborhoods, while several of the centers were in secondary markets within driving distance from Kansas City. The seller, a publicly traded owner-operator, was looking to exit the Midwest region to create a tighter geographic density for its properties, as well as focus on hospital partnerships. The buyer is Illinois-based Cascade Capital Group, which went through several rounds of bidding. The sale includes an undisclosed level of HUD mortgage debt and two leased assets. The sales price equates to $45,000 per bed. Ben Firestone, Christopher Hyldahl and Michael Segal of Blueprint structured the transaction.
WALKER, MICH. — Monmouth Real Estate Investment Corp. has acquired a 343,483-square-foot industrial building in Walker, near Grand Rapids, for $32.1 million. The building is situated on 61 acres at 3466 Shippers Drive. The property is net leased to FedEx Ground Packaging System Inc. for 15 years.
ROCHESTER HILLS, MICH. — KJ Commercial has brokered the sale of Auburn Plaza in Rochester Hills, about 25 miles north of Detroit. The sales price was not disclosed. The 31,000-square-foot retail center is located at 240 E. Auburn Road. Kevin Jappaya of KJ Commercial represented the undisclosed buyer in the transaction. The buyer purchased the property in a 1031 exchange.
BEDFORD, ANDOVER & BILLERICA, MASS. — Avison Young, as buyer representative for Atlantic Management, has arranged the purchase of three office/flex buildings in Massachusetts. Atlantic Management acquired the 211,377-square-foot portfolio from Wheelock-Novaya for $26.5 million. The assets are located at 15 Crosby Dr. in Bedford, 200 Bulfinch Dr. in Andover and 5 Federal St. in Billerica. Tenants at the properties include Ocular Therapeutix and Becton Dickinson. Scott Jamieson of Avison Young worked with Joe Zink and Steve Wyman of Atlantic Management on the buyer’s side, while Wheelock-Novaya was represented by Gary Kamin of Wheelock Street Capital and Scott Tully and Shawn Hawthorne of Novaya Real Estate Ventures.
NEW YORK CITY — Simone Development Companies has brokered a long-term relocation lease for LKQ Hunts Point Auto Parts in New York City. The company is relocating to a different location in the Bronx. Joanna Simone of Simone Development, which owns the property at 1390 Spofford Ave., negotiated the 15-year lease for 73,000 square feet with LKQ Hunts Point Auto Parts. The tenant was previously located at 1480 Sheridan Expressway. The one-story warehouse/distribution building features 26-foot clear ceiling heights, 11 loading docks, three drive-in bays and on-site parking.
FARMINGTON, CONN. — Second Foundation has purchased a 9,860-square-foot office property located at 21 Talcott Notch Road in Farmington for $1.1 million. SCEN International was the seller of the three-story property, which is located on .99 acres. Sentry Commercial represented the seller and CBRE represented the buyer in the transaction.
LOS ANGELES — A joint venture between Barak Investors Group and MIP Investment has sold a 103,154-square-foot office building in the Los Angeles submarket of Universal City. Though the price was not disclosed, the JV suggested that the property sold for between $35 million and $40 million. The Class A building is located at 3330 Cahuenga Blvd. It is 92 percent leased to tenants like Extreme Reach, Panasonic, EPSCineworks and Abominable Pictures. The buyers are Cahuenga Investment LLC and Cahuenga Equity LLC. NGKF’s Kevin Shannon Team represented the JV in this transaction.
LAKE SUCCESS, N.Y. — Northwell Health has leased 50,000 square feet of office and industrial space at 2500 Marcus Ave. in Lake Success, a property owned by Nassimi Realty. With the lease, the property is 100 percent occupied. Nearby employers include Long Island Jewish Medical Center and North Shore University Hospital. Daniel Brandel of CBRE represented Northwell in the transaction. Northwell Health is one of New York’s largest healthcare providers with 21 hospitals and over 550 outpatient practices. Nassimi Realty is a privately held development and investment company specializing in the redevelopment of existing properties.