CHICAGO — Newmark Knight Frank (NKF) has brokered the sale of an eight-building industrial portfolio totaling 314,567 square feet in suburban Chicago. The sales price was not disclosed. The properties average 40,000 square feet in size and are located in the western suburbs of Glendale Heights, Elgin, Bartlett, West Chicago and Sugar Grove. Built for light manufacturing, office and warehouse space, the facilities are 100 percent occupied. Adam Marshall of NKF represented the seller, PJT Marly LLC and its manager, Berkowitz Enterprises Inc. Toronto-based Agellan Commercial Real Estate Investment Trust purchased the portfolio.
BURLINGTON, N.J. — Colliers International has arranged the sale of an industrial building located at 105 Connecticut Drive in Burlington. Crossroads Industrial acquired the building for $2.5 million, or $63.50 per square foot. The 40,500-square-foot building features 18,000 square feet of office space, 20-foot clear heights in the warehouse, four tailgate doors and one van-height door. The buyer plans to use the site as a warehouse for NYB Distributors. Financing for the acquisition was provided by Morgan Stanley Bank. Marc Isdaner of Colliers represented the undisclosed seller, while NAI Mertz represented the buyer in the deal.
HILLIARD, OHIO — RCG Ventures has acquired Mill Run Square in Hilliard, a suburb of Columbus. The purchase price was not disclosed. The 181,161-square-foot shopping center is located adjacent to I-270. Floor & Decor and Arhaus anchor the property, which is part of Mill Run, a master planned community that is home to several national retailers including Walmart, Lowe’s, Target, Home Depot, Aldi, Giant Eagle, Dave & Buster’s and Starbucks. Isaiah Harf of Stan Johnson represented the undisclosed seller.
SAN FRANCISCO — American Healthcare Investors and Griffin Capital Co. LLC, the co-sponsors of Griffin-American Healthcare REIT IV Inc., have announced the fund will acquire a 327-unit, eight-property portfolio of seniors housing communities in Northern California. The portfolio will be purchased in tranches, with the first group including properties in Belmont, Fairfield, Menlo Park and Sacramento. The second round will include properties in Napa and Sonoma. The first tranche has already closed, while the second is expected to be completed before the end of the year. The first acquisition totals 134,000 square feet of assisted living, memory care and skilled nursing. The communities are 100 percent occupied and operated by Colonial Oaks under a 15-year net lease. Several entities associated with Nazareth Healthcare sold the first tranche of properties. Grant Goodman and Chad Elliott of Lancaster Pollard & Co. LLC represented the sellers. Griffin-American Healthcare REIT IV financed the acquisition using cash on hand and borrowings under its revolving line of credit with Bank of America NA and KeyBank National Association.
PISCATAWAY, N.J. — Rockefeller Group has acquired a 228-acre industrial site located at 171 River Road in Piscataway. Lincoln Equities Group and Real Capital Solutions sold the former brownfield site for $57 million. The remediated site is fully entitled to build 2.4 million square feet of space for industrial distribution and light manufacturing space. The buyer will break ground on two new buildings later this summer with an anticipated overall project cost between $225 million and $250 million. David Bernhaut of Cushman & Wakefield represented the sellers in the transaction.
BOSTON — HFF has arranged $80 million in acquisition financing for Suffolk Downs, a 161.2-acre, transit-oriented development site located in East Boston and Revere, Mass. HYM Investment Group is the borrower and buyer in the transaction. John Fowler, Anthony Cutone, Jennifer Keller and Andrew Gray of HFF secured the short-term, floating-rate loan with Bank of the Ozarks and advised the buyer in the deal. Adjacent to Route 1A, the site comprises 108.8 acres in Boston and 52.4 acres in Revere. The property is also served by two Massachusetts Bay Transit Authority Blue Line stations: Suffolk Downs and Beachmont. The site is currently the location of the Suffolk Downs horse racing facility, which will have its last racing season in summer 2018.
MIAMI — Fifteen Group has sold 200 South Miami Avenue, a 110,000-square-foot logistics facility in downtown Miami, for $37.3 million. The sales price was nearly double what the Miami-based investment firm paid in July 2014, when it purchased the asset for $19 million. The building is net-leased to FedEx until 2029 with a five-year renewal option, according to The Real Deal.
FRESNO AND PORTERVILLE, CALIF. — Retail California has arranged the sales of two retail buildings in Fresno and Porterville. In the first transaction, Abdol Chalak acquired an 8,320-square-foot property, located at 4007 E. Ventura Ave. in Fresno. FD Partners LLC sold the property for an undisclosed price. Lewis Smith and John Lee of Retail California brokered the transaction. In the second deal, Opus-Dean LLC purchased a 9,900-square-foot retail property located at 1174 W. Henderson Ave. in Porterville. Walgreen Co. sold the property for an undisclosed price. Nick Frechou of Retail California represented the buyer, while Matt Alexander and John Krupka of SRS Real Estate represented the seller in the transaction.
LOS ANGELES — Marcus & Millichap has brokered the sale of a land parcel located at 1581-1587 W. Adams Blvd. in Los Angeles. An undisclosed buyer acquired the 13,996-square-foot site for $1.5 million. Floyd Shaheen of Marcus & Millichap represented the seller, an individual/personal trust, in the deal.
ENCINITAS AND ESCONDIDO, CALIF. — Poki Poki has signed two leases for new locations in California. The restaurant will occupy 1,240 square feet at Escondido Valley Center, located at 1348 W. Valley Parkway in Escondido, and 896 square feet at Encinitas Marketplace, located at 154 El Camino Road in Encinitas. Beth Sargent and Jon Horning of Flocke & Avoyer Commercial Real Estate represented the tenant in both transactions. Phil Lyons of Cushman & Wakefield represented the landlord at Escondido Valley Center and Manuel Balderrabano of Kimco Realty represented the landlord in the Encinitas deal.