UNION CITY, CALIF. — CenterPoint Properties has acquired a 7.9-acre site, located at 950 Whipple Road in Union City, from Carter Industries for an undisclosed price. During due diligence, the company simultaneously executed a 10-year lease with an undisclosed company and secured a conditional use permit on behalf of the tenant. The site features a 63,000-square-foot building with 20-foot drive-in doors, 11-foot to 25-foot clear heights and two dock-high doors, as well as an oversized rear yard that can accommodate above-market auto parking. The asset is less than two miles from Interstate 880 and proximate to the San Mateo Bridge offering easy access to the San Francisco Bay area. Jon Cook of Townsend Commercial Real Estate brokered the off-market transaction. Matt Visick of Reuben, Junius & Rose LLP pursued and obtained the conditional use permit.
ROSELLE, N.J. — NAI DiLeo-Bram & Co., has brokered the sale of a 7,690-square-foot retail and office property in Roselle, a southwestern suburb of New York City. Located at 111-117 West Second Ave., the property offers convenient access to the Garden State Parkway and the Roselle Park transit station. The building was leased to three retail tenants and one office tenant at the time of sale, and the new buyer plans to reposition the building for residential use. Marc Shein and Matthew DiLeo of NAI DiLeo-Bram represented the seller and procured the buyer in the transaction. Both parties were undisclosed.
MILPITAS, CALIF. — New York City-based Empire State Group has purchased a fully leased R&D facility, located at 1564 Barber Lane in Milpitas. A joint venture between affiliates of Westport Capital Partners and Cannae Partners sold the asset for $41.1 million. Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets group represented the buyer and seller in the deal. Situated on 5.5 acres within Oak Creek Business Park, the asset features 102,668 square feet of research and development space. The facility was originally developed in 1980, but underwent significant improvements in 1996, 2009 and 2019.
OGDEN, UTAH — Monmouth Real Estate Investment Corp. has purchased a LEED-certified industrial property, located at 985 W. Kershaw St. in Ogden, for $12.9 million. The name of the seller was not released. Federal Express Corp., a Delaware corporation, occupies the asset on a 15-year, net-lease basis. The 69,734-square-foot industrial property is situated on 7.5 acres.
DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities in the Denver metro area and a third in Eastern Colorado. The portfolio totals 250 skilled nursing beds, as well as 25 assisted living units. LTC Properties sold the assets as part of its plan to divest all its Preferred Care-branded communities. The buyer is a private company looking to expand its presence in Colorado, as well as its relationships with its third-party operators in the state. The price was not disclosed.
CORAL GABLES, FLA. — JLL has negotiated the $46.8 million sale of Plaza San Remo, a 59,694-square-foot mixed-use property in Coral Gables. Whole Foods Market occupies the ground floor of the seven-story property. Built in 2007, the building was fully leased at the time of sale to tenants including Pediatric Associates and OXXO Care Cleaners and also features a seven-story parking garage. Danny Finkle, Luis Castillo and Eric Williams of JLL represented the seller, an undisclosed institutional investment advisor, in the transaction. The buyer was a core fund advised by Zurich Alternative Asset Management LLC.
NORTH LITTLE ROCK, ARK. — SRS Real Estate Partners National Net Lease Group has arranged the $4 million sale of an 8,000-square-foot retail property in North Little Rock. The property is fully leased to Vitamin Shoppe and Mattress Firm on their respective corporate-guaranteed triple-net leases. The property is situated at 4300 McCain Blvd., seven miles north of downtown Little Rock. The asset is an outparcel to a Lowe’s Home Improvement-anchored shopping center. Brian Wolfman of SRS represented the seller, Los Angeles-based McCain Plaza LLC, in the transaction. Aaron Hines of Marcus & Millichap represented the buyer, New Mexico-based G&T Investments LLC, which was completing a 1031 exchange. Tyler Johnson of Pegasus Capital Markets represented the buyer in sourcing acquisition financing.
ROSEBURG, ORE. — Marcus & Millichap has negotiated the sale of Vista & Terrace Apartments, a multifamily complex in the Southern Oregon city of Roseburg. A private investor sold the property to a limited liability company for $3.6 million. Danalee Corso, Nygel Drury and Whitney Rhoades of Marcus & Millichap’s Portland, Ore., office represented the seller and buyer in the deal. Located at 600 N.E. Polk St., Vista & Terrace Apartments features 56 units in a mix of one-, two- and three-bedroom layouts. The property was constructed in 1948.
IMPERIAL COUNTY, CALIF. — Cushman & Wakefield has arranged the sale of a 120-acre, industrial-zoned land property in Imperial County through a process run by Ritchie Bros. Auctioneers. ADJ Holdings acquired the property from Ralph Road LLC for $1.8 million. Located at 340 Ralph Road, the property features a seven-car retail spur on the Union Pacific line, plus approximately three quarters of a mile of additional track that could be installed on the property to expand the train component. Approximately 75 acres of the site has chain link perimeter fencing with two main access gates and a third gate at the rail spur. ADJ Holdings purchased the property as an investment and will begin seeking tenants for the industrial facility. Matt Davis and Terry Jackson of Cushman & Wakefield’s Land Advisory Group in San Diego brokered the deal.
BELLEVILLE, ILL. — Barber Murphy has brokered the sale of a 14,900-square-foot office and retail building in Belleville, about 17 miles southeast of St. Louis. The sales price was undisclosed. Okaw Valley Council Boy Scouts of America sold the property, which is located at 335 W. Main St. Jarvis Cos. Inc. was the buyer. Barber Murphy represented both parties in the transaction.