CANNON FALLS, MINN. — JLL Capital Markets has brokered the $7.4 million sale of a 200,000-square-foot distribution center in the Minneapolis-area community of Cannon Falls. The facility is net leased to Mauser Packaging Solutions, an industrial packaging conglomerate that has occupied the property since 2009. The building sits on nearly 17 acres at 100 Holiday Ave. Peter Bauman, Tivon Moffitt and Chris Hickok of JLL represented the undisclosed seller. A private foreign investor purchased the asset.
OAKLAND TOWNSHIP, MICH. — RHP Properties has acquired Woodlands Estates, a 375-site manufactured home community in Oakland Township, about 30 miles north of Detroit. The purchase price was undisclosed. The pet-friendly community features a clubhouse, pool, fitness center, resident garden and playground. RHP plans to upgrade the amenities and add a business center. This is RHP’s 18th property in Michigan. The company now owns and operates 260 manufactured home communities nationwide.
TEMECULA, CALIF. — Westcore, an industrial real estate acquisition, development and asset management firm, has entered the Temecula market with the purchase of an industrial warehouse located at 27731 Diaz Road. An undisclosed private investor sold the property for $10.8 million. Situated on 10.6 acres, the currently vacant property features 65,625 square feet of space. The facility offers 14 dock-high doors, 30-foot clear heights, cross-dock configuration and a large decomposed granite secured yard. Brad Yates and Stefan Pastor of Colliers International represented Westcore, while Barret Woods of Lee & Associates represented the seller in the transaction.
DENVER — AQYRE Real Estate Advisors has arranged the sale of an apartment building located at 1325 Madison St. in Denver. An undisclosed buyer acquired the property for $2.6 million, or $216,250 per unit. The 12-unit property features 11 one-bedroom/one-bath and one studio apartment. Matt Lewallen and Kevin Calame of AQYRE represented the buyer and undisclosed seller in the transaction.
SHERMAN, TEXAS — CBRE has negotiated the sale of a 61,000-square-foot, three-building industrial property located at 2709, 2713 and 2717 Fallon Drive in the North Texas city of Sherman. Jared Aubrey, Michael Austry and Johnny Dunn of CBRE represented the buyer, Fallon Industrial LLC, in the transaction. The seller was Datavault Joint Venture.
LOS ANGELES — The Passman Group has brokered the sale of a three-parcel land assemblage, located at 2107-2121 Westwood Blvd. in Los Angeles. A private investor acquired the asset for an undisclosed price. The property consists of multiple buildings across three parcels that are approximately 27,000 square feet. With close to 200 feet of frontage, the property was previously home to the iconic Wally’s Wine & Spirits for more than 30 years. David Passman, Michael Navi and Marc Pakravan of The Passman Group represented the undisclosed seller in the transaction. Richard Drapkin advised the seller.
FREMONT, CALIF. — First Industrial has acquired a light industrial warehouse and manufacturing facility in Fremont. An undisclosed seller sold the property for $9.1 million. The 38,692-square-foot property is located at 4160-4170 Business Center Drive. The asset was built to accommodate a variety of uses from manufacturing to last-mile delivery services. Joe Yamin of Colliers represented the seller, while Century 21 represented the buyer in the transaction.
WHITTIER, CALIF. — Avison Young has arranged the sale of an industrial building located at 8155 Byron Road in Whittier. The undisclosed seller sold the asset to a private buyer for $5.5 million. Built in 1974 on 1.5 acres, the 32,000-square-foot property includes 3,000 square feet of office space, 16 parking spaces, two roll-up doors and 20-foot to 22-foot clear heights. The seller is a company that manufactured racking systems for the grocery industry and vacated the property prior to escrow. The buyer intends to use the building for its business. Chris Maling, David Mailing and Paul Clark of Avison Young represented the seller, while Lee & Associates represented the buyer in the deal.
ATLANTIC CITY, N.J. — Caesars Entertainment Corp. and VICI Properties Inc. have agreed to sell Bally’s Atlantic City Hotel & Casino for approximately $25 million in cash. The buyer, Twin River Holdings Inc., will pay $19 million to VICI and $6 million to Caesars. The property includes approximately 225,750 square feet of gaming space and 1,214 hotel rooms. Restaurants on site include Italian eatery Buca di Beppo and Guy Fieri’s Chophouse. Following the sale, Caesars will continue to operate Caesars Atlantic City, which will include the Wild Wild West casino area, The Book sports wagering facility and Harrah’s Resort Atlantic City. VICI Properties will continue to own the land and real estate associated with Caesars Atlantic City, including the Wild Wild West casino area. Both parties were represented internally.
YORK, PA. — Larken Associates, a New Jersey-based developer, has acquired The View at Mackenzi, a 224-unit apartment community in York, located approximately 25 miles south of Harrisburg. Located at 2035 Patriot St., the property features two-bedroom units and amenities such as a fitness center, walking trails and a dog park. Rents range from $1,042 per month to $1,195. The seller and sales price were undisclosed.