LOS ANGELES – A local private investor has purchased a 31,242-square-foot building in Los Angeles that is net leased to Stock Building Supply Holdings for $15.7 million. The building is located at 3860 Grand View Blvd. Stock Building Supply had occupied the building for more than 20 years before deciding to sell the property in late 2014. The lease was restructured into a 15-year term after the building was purchased. This space is the builder’s West Coast flagship property. Stock Building Supply was represented by Chris Sands of Sands Investment Group.
SEATTLE – A three-building portfolio of light manufacturing, flex and distribution space has sold to Industrial Property Trust Inc. for $11.2 million. The portfolio contains a total of 138,296 square feet throughout the Seattle/Puget Sound region. It includes buildings I, III and V in the West Valley Distribution Center, located at 72nd Ave. South. Buildings I and V are fully leased. West Valley III is a vacant flex facility. The seller, a partnership between ScanlanKemperBard Companies and funds managed by Oaktree Capital Management, was represented by HFF’s Nicholas Kucha and James Childress. The transaction was co-brokered by Wilma Warshak of Washington Real Estate Advisors.
LIVERMORE, CALIF. – Tri Valley Learning Corporation (TVLC) has acquired an 80,000-square-foot office building in Livermore for an undisclosed sum. The building is located at 3090 Independence Drive. TVLC operates charter schools in Livermore, Stockton and San Diego. This acquisition has been in the works for several years. The Class A building will house high school students from the K-8 campus, as well as international students. The land between the two campuses will be used for a sports field. TVLC was represented by John Hone of Colliers International.
CARY, ILL. — Entre Commercial Realty LLC has arranged the acquisition of an industrial property located at 770 Industrial Drive in Cary. A private investor purchased the 54,000-square-foot multi-tenant building for an undisclosed price. Situated on 4.5 acres, the property features six 9,000-square-foot units, 18- to 22-foot ceiling heights, parking for more than 120 cars and six truck docks, one for each unit. After the acquisition, the buyer announced the leasing of three units, totaling 27,000 square feet, to American Eagle Packaging Co. The ownership plans to rehab the remaining units with new interior office finishes and lighting, in addition to exterior upgrades such as new monument signage and parking lot improvements. Dan Jones, Dan Benassi and Mike DeSerto of Entre Commercial represented the buyer in the acquisition and leasing transactions. Ryan Nelson of Foresite Realty Partners represented the seller, FirstMerit Bank, in the deal.
WAUKESHA, WIS. — The Dickman Company Inc. has arranged the sale of an industrial property located at 310 S. West Ave. in Waukesha. The State of Wisconsin Department of Transportation sold the 19,250-square-foot property for an undisclosed price to Soraal LLC. Samuel D. Dickman, Samuel M. Dickman Jr. and Zach Noble of The Dickman Company Inc. represented the seller, while Brian Parrish of PARADIGM Real Estate represented the buyer in the transaction.
LATHRUP VILLAGE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of an office building located at 26221 Southfield Road in Lathrup Village. Williamsburg LLC sold the property, which is located within Williamsburg Plaza South, to Dr. Quadir Jaleel of OMJ Building LLC for an undisclosed price. Dan Verderbar of Friedman represented both the seller and buyer in the transaction.
CROMWELL, CONN. — O,R&L Commercial has brokered the sale of a flex building located at 800 Corporate Row in Cromwell. Buhl Land East IV LLC sold the 12,750-square-foot property for $1.05 million to Matthew Esler. The property features four drive-in doors and two loading docks. Renewal by Andersen will occupy the facility for its marketing and sales office, as well as a distribution hub for doors and windows. Frank Hird of O,R&L Commercial represented the seller, while Bob Gaucher, also of O,R&L, represented the buyer in the transaction.
NEW YORK CITY — Rosewood Realty Group has brokered the sale of a multifamily property located at 805 St. Marks Ave. in Brooklyn’s Crown Heights neighborhood. Akelius Residential Property, the U.S. arm of Sweden-based Akelius, purchased the six-story, 172,000-square-foot property for $44 million, or 18.85 times the current rent roll. The property features 200 rent-stabilized and rent-controlled apartment units. Aaron Jungreis of Rosewood represented the seller, Burke Leighton Asset Management, while Billy Billitzer of Rosewood represented the buyer in the transaction.
CLARENCE, N.Y. — The Cooper Commercial Investment Group has arranged the sale of the Jo-Ann Plaza retail center located in Clarence. A Brooklyn-based private investment group purchased the property for $9.3 million from a publicly traded REIT. The 92,720-square-foot property is 100 percent occupied by Jo-Ann Fabrics and Crafts, Big Lots and OfficeMax. Dan Cooper of the Cooper Commercial Investment Group represented the seller in the transaction.
CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of Logan’s Roadhouse, a 6,165-square-foot net-leased property located in Corpus Christi. Jason Vitorino, Adam Gottschalk and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Vitorino, Gottschalk and Aubrey also procured the buyer, a local private investor. Logan’s Roadhouse is located at 5057 S. Padre Island Drive in Corpus Christi, adjacent to Highway 358. Built in 2007, the asset is a pad site to Academy Sports+ Outdoors, Walmart and Home Depot. At the time of listing, Logan’s Roadhouse had 13 years remaining of its original 20-year net lease.