REBusinessOnline

CBRE Brokers $5.4M Sale of Eagle Plaza Shopping Center in California’s Inland Empire

HESPERIA, CALIF. — CBRE has arranged the sale of Eagle Plaza, a shopping center located at 15776 Main St. in Hesperia. A Texas-based private buyer acquired the asset for $5.4 million.Alan Krueger and Vanessa Haddad of CBRE represented the seller, a private local investor, in the deal.Totaling 39,877 square feet, Eagle Plaza is occupied by five tenants, including a donut shop, laundromat and sandwich store that have occupied the property since it opened in 1989. The other two tenants …

Marcus & Millichap Arranges $5.1M Sale of Pecos Square Retail Property in Denver

DENVER — Marcus & Millichap has arranged the sale of Pecos Square, a multi-tenant retail property located at 1777 and 1717 W. 38th Ave. in Denver. A private investor acquired the asset from a private partnership for $5.1 million.Built in 1988, Pecos Square features 10,729 square feet of retail space and was 100 percent occupied at the time of sale. The property consists of 81 percent corporate leases with an average occupancy of 18 years. The asset also features a standalone Burger …

CBRE Negotiates $37M Sale of Two Office Buildings in Yonkers, New York

YONKERS, N.Y. — CBRE has negotiated the $37 million sale of 3 Executive Boulevard and 3 Odell Plaza, two office buildings totaling 130,607 square feet in Yonkers, located north of New York City. Both assets are leased on a long-term basis to a single tenant, Montefiore Health System. Jeffrey Dunne, Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride and Stuart MacKenzie represented the seller, an entity managed by Robert Martin Co., in the transaction. The team also procured the buyer, a …

Stream Capital Partners Arranges $29M Sale-Leaseback of Texas Restaurant Portfolio

CHICAGO — Chicago-based Stream Capital Partners LLC has arranged a $29 million sale-leaseback of a portfolio of nine quick service restaurants located throughout Texas. Palenque Group, which operates 34 restaurants throughout the state under the Taco Palenque, Pollo Palenque and Palenque Grill brands, was the seller and will continue to occupy the properties. The buyer was not disclosed. Chelsea Mandel of Stream Capital Partners brokered the

Bradley Co. Brokers Sale of 37,375 SF Retail Center Near Grand Rapids

KENTWOOD, MICH. — Bradley Co. has brokered the sale of Ridgemoor Center in Kentwood, just south of Grand Rapids. The sales price was undisclosed. The 37,375-square-foot retail center is located at 2889 28th St. Jeff Tucker and Drew Nelson of Bradley represented the seller, GLC/Grand River Retail. The buyer, L. Walt & Associates LLC, plans to make property

Madison Capital Group Acquires Two Vacant Sears Boxes in Savannah and Boise, Plans Mixed-Use Developments

BOISE, IDAHO AND SAVANNAH, GA. — Madison Capital Group LLC has acquired two vacant Sears boxes located adjacent to active shopping malls, the Boise Town Square in Boise and the Oglethorpe Mall in Savannah. The seller and sales price were not disclosed.Madison Capital Group plans to redevelop each box into a mixed-use development that could include residential housing and retail. Madison Capital Group is based in Charlotte and focuses on investing in multifamily and self-storage

BH Properties Buys 128,266 SF Freeway Corporate Park in Santa Ana, California

SANTA ANA, CALIF. — BH Properties has purchased Freeway Corporate Park, a multi-tenant office complex located within Orange County Greater Airport Area/Irvine Business Park in Santa Ana. Terms of the transaction were not released.Totaling 128,266 square feet, the two-building property is located at 2501 Pullman St. and 1700 E. Carnegie Ave. At the time of sale, the property was 56 percent leased to two tenants – Iteris and Orange County Head Start Inc. The two buildings are connected by …

Thor Equities Acquires 196,300 SF Industrial Facility in Southern California in a Sale-Leaseback Deal

CARSON, CALIF. — New York-based Thor Equities Group has purchased a last-mile warehouse facility located at 2575 El Presidio in Carson. An undisclosed seller sold the asset in an off-market, sale-leaseback transaction.Marc Schillinger and Keith Rosso of JLL Capital Markets arranged $15.9 million in acquisition financing for the buyer. National Life Group provided the seven-year, fixed-rate, interest-only loan.Built in 1972 on six acres, the 196,300-square-foot building features …

Hamilton Zanze Sells 426-Unit Norterra Canyon Apartments in North Las Vegas

NORTH LAS VEGAS, NEV. — San Francisco-based Hamilton Zanze, in partnership with Cantor Fitzgerald Investors, has completed the disposition of Norterra Canyon, an apartment community located at 5005 Losee Road in North Las Vegas. Terms of the transaction were not released.Built in 2007, Norterra Canyon features 426 one-, two- and three-bedroom units averaging 1,076 square feet. Apartments feature granite countertops, Energy Star appliances, walk-in closets, patios or balconies, and washers …

Merrill Commercial Real Estate Negotiates $18M Seniors Housing Portfolio Sale in Redding, California

REDDING, CALIF. — Merrill Commercial Real Estate has arranged the sale of a two-property portfolio made up of 151 units of assisted living and memory care in Redding.The properties went under contract pre-pandemic. Since that time, the occupancy dropped nearly 20 percent as a COVID outbreak in one of the locations took a toll. Despite this, the buyers stuck with the deal.A private equity group looking to expand in California acquired the properties from an independent owner-operator …

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