CHICAGO – South Street Capital has sold a 30,000-square-foot office loft building in Chicago’s West Loop neighborhood for $7.1 million. The three-story asset is located at 1130 W. Monroe St. and was originally acquired by South Street Capital in 2013. Following the original acquisition, South Street Capital made updates and improvements to the common areas and mechanical systems. The buyer in the transaction was undisclosed.
KENOSHA, WIS. – The Dickman Co./CORFAC International has arranged the sale of a 7,000-square-foot industrial building in Kenosha for an undisclosed price. Bone Dry Products Inc. purchased the facility located at 9009 58th Place from Neal R. Rusecki and Nancy J. Rusecki. Zach Noble and Cale Berg of The Dickman Co. represented the seller in the transaction. Mike Pitts Jr. of Pitts Brothers & Associates represented the buyer.
SAN ANTONIO — InvenTrust Properties Corp. has acquired Sonterra Village Shopping Center, a 42,492-square-foot shopping center located in San Antonio, for $21.5 million. Newly constructed, Sonterra Village is anchored by Trader Joe’s with a mixture of restaurants, fitness, lifestyle and soft goods retailers.
HOUSTON — Marcus & Millichap has arranged the sale of Hawthorne Square, a 14,800-square-foot retail property in Houston. Justin Miller and Derek Hargrove of Marcus & Millichap’s Houston office secured and represented the buyer, a limited liability company. Anchored by Starbucks Coffee, Hawthorne Square is located at 3407 Montrose Blvd.
KILLEEN AND TEMPLE, TEXAS — Jamie Safier and Kurt Dennis of LMI Capital have placed debt for the acquisition and refinancing of two separate garden-style apartment complexes located in tertiary markets in the central Texas region. Dennis secured the acquisition loan for a garden-style apartment complex in Killeen totaling more than 100 units. The five-year, 4.75 percent fixed-rate loan equates to 70 percent of the purchase price and features a flexible pre-payment structure. Working on behalf of the borrower for the second transaction, Safier arranged a 10-year, fixed-rate agency loan at 75 percent leverage for a 140-unit multifamily community in Temple.
HAMILTON TOWNSHIP, N.J. — NAI Mertz has arranged the sale of the multi-building, 1 million-square-foot former Congoleum Corp. complex, located at 861 Sloan Ave. in Hamilton Township. Commercial Development Corp. (CDC) acquired the property from Congoleum Corp. for an undisclosed price. CDC plans to develop a mixed-use development on the 65-acre site. The developer plans to raze the majority of the buildings on site with the exception of Building 55, an existing 150,000-square-foot warehouse building. Jeffrey Licht and Fred Meyer of NAI Mertz represented the seller in the transaction.
NEW YORK CITY — Alpha Realty has arranged the sale of a mixed-use building located at 148 E. 98th St. in Manhattan’s Upper East Side. The asset sold for $6.6 million. The six-story, elevator-serviced property features 11 apartment units and a first-floor office space. Glenn Raff of Alpha Realty represented the seller and buyer in the transaction. The names of the buyer and seller were not released.
CRANBURY, N.J. — Colliers International has arranged the lease of 182,000 square feet of warehouse space at 1240 Cranbury South River Road in Cranbury. Achim Importing Co., a global home goods trading company, is relocating to the space after its previous facility at 1600 Livingston Ave. in North Brunswick, N.J., was destroyed by fire last year. Michael Markey and Jonathan Tesser of Colliers arranged the lease on behalf of Achim Importing Co. The landlord is Cosmetic Essence Innovations.
SAN DIEGO — San Diego-based Capital Real Estate Ventures Inc., along with its joint venture partner, Orion Investment and Management Ltd. Corp., has received $29.6 million in acquisition financing for four Del Taco portfolios, totaling 22 properties, in Southern California. HFF placed the non-recourse, two-year, floating-rate loan with Wells Fargo Restaurant Finance Group for the borrower. All properties in the four portfolios feature new long-term leases with Del Taco, a fast food restaurant specializing in Mexican cuisine. The properties are located in Colton, Highland, Lake Elsinore, La Verne, Moreno Valley, Palmdale, Placentia, Perris, Rancho Cucamonga, Rialto, Riverside, Sacramento, Temecula, Thousand Palms, Torrance, Upland, Walnut, Victorville and Vista. Kevin Mackenzie and Greg Brown of HFF secured the financing for the borrower.
PHOENIX — Westcore Properties has purchased a 170,625-square-foot industrial property in Phoenix for $10.2 million. The facility is located at 125 North 67th Ave. The tenants include Goodman Distribution and Omni Workspace. JLL’s Bo Mills and Mark Detmer represented Westcore in the transaction.