PONDER, TEXAS — Henry S. Miller Brokerage has arranged the sale of a 100,000-square-foot industrial building and 23.2 acres at 100 E. FM 2449 in Ponder, located north of Fort Worth and west of Denton. Dan Spika of Henry S. Miller represented the seller, Dallas-based Ponder Property LLC, in the transaction. The buyer was Ferti Management Corp., a Canadian producer of fertilizers. The sales price was not disclosed.
WHITTIER AND SYLMAR, CALIF. — Rexford Industrial Realty has acquired two industrial assets in Southern California for a total consideration of $339.2 million. The acquisitions were funded using a combination of cash on hand, 1031 exchange proceeds from prior dispositions, assumption of existing debt and operating partnership units. The sellers in both cases were not disclosed. The company purchased Gateway Pointe Industrial Campus, a four-building complex located at 3963, 3931, 3735 and 3629 Workman Mill Road in Whittier for $296.6 million, or $300 per square foot. The 45.1-acre asset features four Class A industrial buildings totaling 989,195 square feet of space. The fully occupied complex features 32-foot clear heights at first bay, extensive dock-high loading, excess container parking and access to major transportation corridors. Additionally, Rexford acquired 13943-13955 Balboa Boulevard in Sylmar for $42.6 million, or $212 per square foot. Totaling 200,632 square feet, the property is fully occupied by three tenants.
FULLERTON, CALIF. — Calbay Development has completed the disposition of a single-tenant restaurant building located at 1101 S. Harbor Blvd. in Fullerton. A Los Angeles-based high-net-worth buyer acquired the property for $6.2 million, or $2,067 per square foot. Constructed in 2020, the 3,000-square-foot property has a fully entitled drive-thru. Starbucks Coffee occupies the building and recently signed a 20-year, absolute, triple-net ground lease with no termination rights for the asset. Adam Friedlander of JLL Retail Capital Markets represented the seller in the deal.
MANISTEE, MICH. — Newmark has arranged the sale-leaseback of a 52,939-square-foot manufacturing and distribution facility located at 201 Glocheski Drive in Manistee along Lake Michigan. The sales price was undisclosed. Andrew Sandquist, JC Asensio, Briggs Goldberg and Fred Liesveld of Newmark represented the seller and tenant, Amptech Inc. Agracel was the buyer. Agracel will assist Amptech in a potential expansion of the facility to support future growth objectives. Amptech specializes in the design, manufacturing and distribution of automotive lighting assemblies and industrial valves. Newmark’s Tyrell McGee provided data analysis for the sale.
TOLLESON AND TEMPE, ARIZ. — Cohen Asset Management has completed the dispositions of two Class A industrial properties totaling 292,185 square feet. The dispositions fetched a combined total of $45.3 million across two transactions. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group in Phoenix represented the seller in the deals. In the first transaction, KKR acquired a 249,904-square-foot warehouse/distribution facility located at 8313 W. Latham St. in Tolleson for $31.8 million. The single-tenant property is fully leased, on a long-term basis, to an international convenience store operator. A California-based high-net-worth family purchased a 42,281-square-foot Class A industrial/warehouse building located at 2077 E. University Drive in Tempe for $13.5 million. The single-tenant property is leased to a global electric vehicle and clean energy company.
VISTA, CALIF. — US Divers Co. has completed the disposition of an industrial property located at 2340 Cousteau Court in Vista. Elion ACQ acquired the asset for $22 million. Situated on 8.9 acres, the 134,299-square-foot building features 24,000 square feet of office space, heavy power, eight dock doors, four grade-level doors and 26-foot clear heights. The seller intends to leaseback the facility for one year before relocating to a new location. Rusty Williams, Chris Roth, Greg Pieratt and Jake Rubendall of Lee & Associates Commercial Real Estate Services – North San Diego County represented the seller and buyer in the transaction.
BRIGHTON, COLO. — NitNeil Partners has purchased a self-storage property located at 850 Baseline Road in Brighton. Terms of the transaction, which is the company’s first acquisition in the metro Denver market, were not released. Situated 20 miles northeast of Denver, the single-story, drive-up facility features 450 self-storage units, totaling 64,850 rentable square feet. The property will operate under the CubeSmart brand.
IRVING, FARMERS BRANCH AND GRAPEVINE, TEXAS — Locally based developer JPI has sold three apartment communities totaling 1,174 units in the Dallas-Fort Worth (DFW) metroplex to an affiliate of Dallas-based Lone Star Funds. The properties include Jefferson Promenade in Irving, Jefferson 1900 in Farmers Branch and Jefferson Silverlake in Grapevine. All of the communities offer pools, fitness centers, resident lounges and high-end interior finishes. The sales price was not disclosed.
OSWEGO, ILL. — IRA Capital, a Southern California-based private equity firm, has acquired the Edward-Elmhurst Health Center in Oswego, located about 45 miles southwest of Chicago. It is fully leased to Edward-Elmhurst Healthcare, which was created by the merger of Edward Hospital and Elmhurst Memorial. The 15,500-square-foot outpatient medical facility was constructed as a build-to-suit for the hospital system. Services at the property include imaging, women’s health, urgent care and lab services. The building is situated 14 miles from Edward Hospital in Naperville. The purchase price and seller were undisclosed.
BOZEMAN, MONT., AND SEATTLE — Ziegler has arranged $42.6 million in financing for the acquisition of two seniors housing properties near Seattle and another in Bozeman. The borrower is Radiant Senior Living, which has brought the three properties into its portfolio. The financing consisted of a combination of senior and mezzanine debt, with Congressional Bank providing the senior debt and a national seniors housing fund providing the mezzanine debt. Radiant acquired the portfolio from a publicly traded healthcare REIT as part of its expansion efforts across the country. The properties feature a combined 36 independent living units and 204 assisted living units. Post-acquisition, Radiant’s portfolio totals 18 communities spanning across six states in the Pacific Northwest.