TEXARKANA, TEXAS — Marcus & Millichap has brokered the sale of a two-property, 571-unit self-storage portfolio operated by Pennsylvania-based REIT CubeSmart in Texarkana, a city located near the Texas-Arkansas border. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Florida-based limited liability company, in the transaction. A California-based buyer purchased the portfolio, which consists of 85,656 net rentable square feet, for an undisclosed price.
PHILADELPHIA — Mountain Development Corp., a New Jersey-based developer, has acquired an 86,315-square-foot industrial building in Philadelphia. Located at 3445-3535 S. Front St., the property features clear heights ranging from 18 to 44 feet, 14 loading docks and a 10 percent office finish. The property offers convenient access to the CSX Rail Yard, the Philadelphia Nay Yard and Interstate 95. At the time of sale, plumbing supplies distributor Ferguson Enterprises was the sole tenant of the entire facility. Michael Oliver and Jose Cruz led a JLL team that represented the seller, The Hampshire Cos., in the deal. The sales price was undisclosed.
MECHANICSBURG, PA. — Marcus & Millichap has brokered the $8.2 million sale of a pair of office buildings totaling 77,464 square feet in Mechanicsburg, a western suburb of Harrisburg. The properties are located at 600 and 1000 Bent Creek Blvd. and were completed in 2006. At the time of sale, the properties were fully leased to a mix of medical and other professional office tenants. Craig Dunkle of Marcus & Millichap represented the buyer, a locally based limited liability company, in the transaction. Laura Martin of SVN Latus represented the seller, another limited liability company. Both parties requested anonymity.
MESA, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 160-bed skilled nursing facility in Mesa. The property was recently renovated and expanded and is located near multiple medical centers that refer residents to the facility. A buyer with an existing footprint in the market acquired the asset for an undisclosed price. The transaction is part of a series of sales that Blueprint arranged for LTC properties, which is divesting its entire portfolio of Preferred Care facilities. Blueprint estimates the combined sales will total $78 million.
NEWARK, N.Y. — CBRE has brokered the $9.2 million sale of a 165,499-square-foot retail building in Newark, a western suburb of Rochester. Located at 6788 NY-31 East, the single-tenant property is fully leased to Walmart. Walmart has occupied the space since 1992 and expanded its original lease by 72,011 square feet in 2006. Nearby retailers include Save-a-Lot, Wegmans, Tractor Supply, Dollar Tree, AutoZone and Walgreens. Jeffrey Dunne, David Gavin, Jeremy Neuer and Travis Langer of CBRE represented the seller, a private investor, in the transaction The team also procured an undisclosed institutional investor as the buyer.
CLARK, N.J. — Marcus & Millichap has arranged the $13 million sale of a 76,000-square-foot office building in Clark, a western suburb of New York City. The property is located at 67 Walnut Ave. near the Garden State Parkway. The building is primarily leased to medical tenants, including Summit Medical Group, and is located near Robert Wood Johnson Hospital Rahway and Kindred Hospital. Fahri Ozturk and Richard Gatto of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
LOCKPORT, ILL. — Marcus & Millichap has arranged the $1.6 million sale of a two-tenant retail property in Lockport, about 30 miles southwest of Chicago. The 3,670-square-foot building is home to Arby’s and Bank of America. It is located at 16545 W. 159th St. and serves as an outlot to a Jewel-Osco grocery store. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The buyer was a limited liability company affiliated with one of the tenants.
RENO, NEV. — SVN | Gold Dust Commercial Associates has arranged the sale of an office property located at 790 Sandhill Road in Reno. An out-of-state buyer acquired the building for $9.1 million. The U.S. General Services Administration occupies the 17,908-square-foot property on a long-term lease. Casey Prostinak of SVN | Gold Dust represented the undisclosed seller in the deal.
MESA, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 160-bed skilled nursing facility in Mesa. The property was recently renovated and expanded, and is located near multiple medical centers that refer residents to the facility. A buyer with an existing footprint in the market acquired the asset for an undisclosed price. The transaction is part of a series of sales that Blueprint arranged for LTC properties, which is divesting its entire portfolio of Preferred Care facilities. Blueprint estimates the combined sales will total $78 million.
WEST NEW YORK, N.J. — Marcus & Millichap has arranged the $14 million sale of Jaclyn 40, a 40-unit multifamily building in West New York, New Jersey. Located at 5817 Jefferson Ave., the 36,000-square-foot property offers convenient access to Manhattan, Newark Airport and multiple rail stations. Fahri Ozturk, Richard Gatto and Joseph Belgiovine of Marcus & Millichap represented the seller, a private owner, in the transaction. The team also procured the buyer, another private investor. Both parties requested anonymity.