SAN FERNANDO VALLEY, CALIF. — Matthews Real Estate Investment Services has directed the sale of a nine-property multifamily portfolio in San Fernando Valley. The portfolio traded for $20.2 million in an off-market transaction. The names of the seller and buyer were not released. Totaling 124 units, the portfolio consists of nine apartment buildings spread across the San Fernando Valley, a 250-square-mile urbanized region of Los Angeles County comprising 34 neighborhoods and nearly 1.7 million people. Daniel Withers and John Boyett of Matthews Multifamily division arranged the sale.
MONTANA — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities totaling 338 beds in Montana. The seller is a national operator that was looking to leave the state to focus on other markets. The undisclosed buyer assumed the seller’s HUD debt against the properties. The price and locations of the facilities were not disclosed.
KANSAS CITY, MO. — StorageMart has acquired a Go Storage facility located on 8th Street in downtown Kansas City. The purchase price was undisclosed. The self-storage facility features 310 climate-controlled units. The property recently underwent a renovation and received a new elevator. StorageMart plans to make further improvements, including adding perimeter fencing, gates with keypad access, renovating the office and installing motion sensor lighting in the loading bay.
JOLIET, ILL. — Marcus & Millichap has brokered the sale of a 5,077-square-foot retail property net leased to Panera Bread in Joliet for $4.3 million. The building is located at 2400 W. Jefferson St. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a developer. Karly Iacono of Marcus & Millichap’s New Jersey office represented the buyer, a limited liability company completing a 1031 tax-deferred exchange.
RED BANK, N.J. — First National Realty Partners (FNRP) has acquired The Coastal Building, a 29,178-square-foot Class A office building in Red Bank, a southern suburb of New York City. Located at 151 Bodman Place on the Navesink River, the property offers convenient access to State Highway 35 and the Garden State Parkway. At the time of sale, tenants included Conklin Office Services LLC, Hudson Canyon Investment Counselors and The Pat Menna Law Firm. The building was constructed in 1982 and underwent lobby renovations in 2013. First National acquired the building in an off-market transaction and plans to improve the property with targeted upgrades focused on green initiatives and technology. The sales price was undisclosed.
AUSTIN, TEXAS — Colliers International has arranged the $7.4 million sale of a 12,900-square-foot retail property Austin. The tenant, CVS, has 13 years remaining on its 25-year lease. Jon Busse and Volmey Campbell of Colliers represented the San Diego-based seller in the transaction. Brad Kritzer and David Chasin of Pegasus Investments represented the buyer, a California-based 1031 exchange investor.
MESA, ARIZ. — Stratis-Mesa Properties has completed the disposition of The Shoppes at Higley Village, a neighborhood retail center in Mesa. An undisclosed buyer acquired the asset for $5.5 million, or $224 per square foot. The three-building, 24,580-square-foot property features 14 tenants, including Walmart Neighborhood Market, Bahama Buck’s, Great Clips and Marco’s Pizza. At the time of sale, the property was 85 percent occupied. Derek Buescher of Orion Investment Real Estate represented the seller in the transaction.
SANTA MONICA, CALIF. — NAI Capital has facilitated the sale of The Centinela, a multifamily property located at 2643 Centinela Ave. in Santa Monica. A Charitable Trust sold the asset to a private investor for $12.1 million, or $426 per square foot. Built in 1963, the two-story building features 48 one-bedroom/one-bath apartments, including eight poolside and six patio units. Community amenities include well-manicured grounds, a pool, laundry facilities, parking and storage. Sheri Messerlian and Tim Steuernol of NAI Capital’s Multifamily Services Group represented both parties in the transaction.
SAN FRANCISCO — Colliers International Northern California has arranged the sale of 99 Jersey Street, a marina-style apartment building in San Francisco’s Noe Valley district. The property traded for $6.9 million. The names of the seller and buyer were not released. Brad Lagomarsino and James Devincenti of Colliers International Northern California represented the seller and buyer in the deal. Located at 99 Jersey St., the building features 15 studio apartments.
UVALDE, TEXAS — Marcus & Millichap has brokered the sale of a 40,000-square-foot retail property in Uvalde, located about 85 miles west of San Antonio. The property currently houses Tractor Supply Co. and Dollar General. Philip Levy of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a personal trust. Both parties requested anonymity.