NEWTOWN, N.C. — Binswanger has brokered the sale of a 439,500-square-foot industrial facility in Newtown. The property is located on a 94.8-acre parcel at 1545 St. James Church Road. Snider Tire Inc., a commercial tire dealer and retreader, purchased the asset for an undisclosed amount. Doug Faris of Binswanger’s Charlotte office brokered the transaction.
COLLEGE PARK, GA. — Newmark Grubb Knight Frank Hotels (NGKF Hotels) has brokered the sale of the Microtel Inn & Suites by Wyndham Hotels, an 83-room hotel located at 4839 Massachusetts Blvd. in College Park. The three-story hotel is located adjacent to Hartsfield-Jackson Atlanta International Airport and roughly 11 miles south of downtown Atlanta. Georgia-based 64J Hotel Groups LLC bought the Microtel Inn with plans to negotiate a new, long-term franchise agreement and upgrade the property with a planned renovation totaling approximately $400,000. Sam Winterbottom, Bhavesh (B.J.) Patel and Barrett Corwin of NGKF Hotels represented the undisclosed seller in the transaction. In the past eight months, NGKF Hotels has also brokered the sales of the nearby Wellesley Inn and Sleep Inn hotels. Combined, the three hotels have sold for $14 million.
NASHVILLE, TENN. — Stan Johnson Co. has brokered the $3 million sale of a 10,500-square-foot dialysis clinic located at 20 Rachel Drive in Nashville. The property is fully leased to Vanderbilt University and is one of its two 24-hour dialysis operations in the metro Nashville area. A private partnership based in New England purchased the facility from a limited liability partnership based in California. Craig Tomlinson and John Zimmerman of Stan Johnson Co. marketed the asset and represented the seller in the transaction.
LOS BANOS, CALIF. — O’Reilly Automotive Enterprises has acquired three retail land parcels in Los Banos. O’Reilly acquired a 15,912-square-foot parcel and a 17,291-square-foot land parcel, both located at the northwest corner of Pacheco Pass and Sixth Street, from Balatti Family Trust for undisclosed price. Additionally, O’Reilly purchased a 14,288-square-foot land parcel at the northwest corner of Pacheco Pass and Sixth Street in Los Banos from Douglas Balatti Revocable Trust. Lewis Smith of Retail California brokered the three transactions.
PALM DESERT, CALIF. — Marcus & Millichap has arranged the sale of Coco’s Bakery & Restaurant, located at 78375 Varner Road in Palm Desert. An individual/personal trust acquired the 6,887-square-foot net-leased property for $3.2 million. Don Emas of Marcus & Millichap represented the seller, a limited liability company, while Emas and Kevin Struve, also of Marcus & Millichap, represented the buyer in the transaction.
BROOKFIELD, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 36,106-square-foot building formerly occupied by Grasch Foods. TMPN Lilly LLC purchased the building located at 13950 W. North Ave. in Brookfield, a western suburb of Milwaukee, for an undisclosed price. GSG Realty LLC was the seller. Samuel D. Dickman and Samuel M. Dickman Jr. of The Dickman Company were the sole brokers in the transaction.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has arranged a 35,020-square-foot office lease in Livonia, approximately 20 miles northwest of Detroit. Exel, a third-party logistics company, will occupy the space at Seven Mile Crossing. Universal Properties Three LLC owns the building located at 38701 Seven Mile Road. Steve Eisenshtadt and Todd Hawley of Friedman represented the landlord in the transaction.
CALEDONIA, WIS. — The Dickman Company Inc./CORFAC International has negotiated a 9,000-square-foot lease in Caledonia, approximately 20 miles south of Milwaukee. Educators Credit Union will occupy the industrial building, which is located at 289 27th St. Ninneman Properties II LLC is the landlord. Cale Berg of The Dickman Company Inc. was the sole broker in the transaction.
HANOVER, PA. — Colliers International has brokered the sale of a restaurant property located at 81 Wilson Ave. in Hanover. An undisclosed 1031 buyer acquired the 5,437-square-foot property for $2.1 million. The property is double-net corporate-leased to Buffalo Wild Wings on a 15-year basis. Larry Kostelac, William Aiello, George Lulos of Colliers were the sole brokers in the transaction. The name of the seller was not disclosed.
LOUISVILLE, KY. — Marcus & Millichap has brokered the $16 million sale of Derby Estates, a 381-unit apartment community located at 5319 Rangeland Road in Louisville. The workforce housing community is situated near the GE Appliance Park manufacturing facility. During the past three years, the property has received a $4 million upgrade package that includes new roofs and siding, new appliances, new HVAC units, new flooring and a new pool, fitness room and recreation area. Aaron Johnson and Aaron Willis of Marcus & Millichap’s Louisville office represented the seller, VTT Rangeland LLC, in the transaction. Capstone Apartment Partners worked with the Sperry Van Ness team in Cincinnati to also represent the seller.