CHICAGO — Midwest Industrial Funds has sold an 84,000-square-foot industrial building in Chicago for an undisclosed price. The food production building is located at 4300 S. Morgan St. within the Stockyards Business Park. The property features 17- to 28-foot ceilings, seven exterior docks, parking for 150 cars and freezer space on a nine-acre site. An affiliate of WP Carey, which had a long-term lease agreement in place with Griffith Foods at closing, purchased the property. Scott Duerkop, Jason Volpe and Sean Devaney of JLL represented the buyer and Griffith Foods in the transaction. Brian Vanosky, Tom Condon and Tim McCahill of Lee & Associates represented Midwest Industrial Funds.
ROMEOVILLE, ILL. — Marcus & Millichap has arranged the sale of Space Savers Self Storage in Romeoville for $4.4 million. The 44,000-square-foot self-storage facility is located at 645 S. Weber Road. Built in 2005, the facility offers climate-controlled, indoor, outdoor and portable storage units. For security, the facility features 24-hour surveillance and all units are electronically controlled. Sean Delaney and Michael Male of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also procured the buyer, a private investor.
BLUE ASH, OHIO — Enervise has signed a 12,700-square-foot office lease at Vista Business Center II in Blue Ash, about 15 miles northeast of Cincinnati. Vista Business Center II, totaling 57,000 square feet, is part of a two-building office campus located along Alliance Road. Enervise, a commercial HVAC services company, is relocating from Evendale, Ohio, and will use the building as its new headquarters. Other tenants at the property include The Urology Group and Technical Training Associates. John Eckert, Travis Likes and Scott Yards of CBRE represented the landlord, Neyer Properties, in the lease transaction.
SOUTH PLAINFIELD, N.J. — ShopOne Centers REIT has entered the metro New York City market with the acquisition of Oak Park Commons in South Plainfield. Located at the corner of Oak Tree Road and Park Avenue, the 139,717-square-foot property comprises three multi-tenant buildings and four single-tenant buildings. At the time of sale, the property was 98 percent occupied by a variety of tenants, including ACME Markets, CVS/pharmacy, Advance Auto Parts, Goodyear Tire, Dollar Tree, McDonald’s and Wells Fargo Bank. The acquisition price was not released.
MARIETTA, GA. — Berkadia has arranged the $61 million sale of Ashford Retreat, a 654-unit apartment community in Marietta, roughly 20 miles north of downtown Atlanta. The property, renamed The Park on Windy Hill, is located at 2121 Windy Hill Road, roughly two miles west of SunTrust Park, home of the Atlanta Braves. Andrew Mays, Paul Vetter, Judy MacManus and Matthew White of Berkadia arranged the transaction on behalf of the buyer, Wilkinson Corp., and the seller, The RADCO Cos. In addition, Berkadia’s Richard Levine arranged equity and debt for the deal on behalf of the buyer. The community includes one- and two-bedroom floor plans and features a fitness center, pool, business center and a clubhouse.
POMPANO BEACH, FLA. — First Industrial Realty Trust Inc. has acquired a 172,120-square-foot warehouse/distribution building in Broward County’s Pompano Beach for $22.7 million. Located at 2504 N.W. 19th St., the property features 16 dock-high doors, two drive-in doors, 323 auto stalls and an additional 4.1-acre parking lot that is available for future development. Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of First Industrial. The name of the seller was not disclosed. Sean Rooney of Hanna Commercial, Jay Ziv of Avison Young and Matthew McAllister, Rick Etner, Chris Metzger and Christopher Thomson of Cushman & Wakefield secured a 19,000-square-foot lease with Stoncor Group Inc., a provider of corrosion and abrasion solutions for the infrastructure and construction markets. With the new lease, the facility is fully occupied.
PARAMUS, N.J. — Onyx Equities, in a joint venture with Garrison Investment Group, has acquired the leasehold interest in an office building located at 61 S. Paramus Road in Paramus. Mack-Cali Realty sold the 285,000-square-foot property for an undisclosed price. With this acquisition, the partnership’s Bergen County portfolio now comprises 1.4 million square feet across six assets located throughout Paramus and Rochelle Park. Cole Schotz P.C. and Milbank, Tweed, Hadley & McCloy represented the buyer, while Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval of HFF represented the seller in the transaction.
ORANGE, CONN. — Pearce/George J. Smith Commercial Real Estate has brokered the sale of an industrial building situated on 6.5 acres at 70 Robinson Blvd. in Orange. Robin Equity LLC acquired the 50,666-square-foot property for an undisclosed price. The buyer will repurpose the building for American Seal & Engineering Corp. to serve as its new global corporate headquarters and main manufacturing facility for engineered products, advanced manufacturing technology, and product testing and development. Carl Russell of Pearce/George J. Smith Commercial represented the sellers, ALM Properties and MCM Investments in the deal.
BELVIDERE, ILL. — Quantum Real Estate Advisors Inc. has arranged the sale of Belvidere Plaza in Belvidere, about 13 miles east of Rockford, for $1.5 million. The 28,094-square-foot property is located at 342-390 W. Chrysler Drive. Anchored by Family Dollar, the retail center houses a mix of local and national tenants. Chad Firsel of Quantum represented the seller, a Michigan-based property owner. Jack Farritor of Quantum represented the buyer, private real estate investors based in Washington, D.C.
PARAMUS, N.J. — Cushman & Wakefield has facilitated the sale of two retail buildings, located at 80 and 100 W. Century Road in Paramus. The Frisch School, a co-educational high school, purchased the 25,000-square-foot property at 100 W. Century Road, and 80 W. Century LLC acquired the 70,000-square-foot building at 80 W. Century Road. A private entity plans to relocate to 80 W. Century Road, while M&T Bank will occupy the remaining space. M&T Bank sold the properties, which it acquired in 2015 with its acquisition of Hudson City Savings Bank. The acquisition prices were not released. David Bernhaut, Andrew Merin, Gary Gabriel, Brian Whitmer, Frank DiTommaso II, David Sherman, David DeMatteis, Mark Zaziski, William Hartman and Lou D’Avanzo of Cushman & Wakefield represented the seller in the deal.