BEAUMONT, CALIF. — NAI Capital has facilitated the purchase of Highland Springs Medical Arts Building, a medical office building located at 701 Highland Springs Ave. in Beaumont. A private investor acquired the asset for $3 million, or $203 per square foot, in a 1031 exchange. The name of the seller was not released. Marc Piron of NAI Capital’s Investment Services Group represented the buyer in the deal. Totaling 14,752 square feet, the asset offers 12 units with a camera security system, new landscaping and trash enclosure, and a recently redone parking lot complete with ADA compliant ramps and LED lights. At the time of sale, the property was fully leased.
GILBERT, ARIZ. — CBRE has arranged the sale of a single-tenant retail ground lease at 6278 S. Higley Road in Gilbert. Arizona-based STF Retail Partners 1 sold the asset to Honggie Kim, a California-based private investor, for an undisclosed price. AutoZone occupies the 7,370-square-foot building, which is located within Chandler Heights Village shopping center. Joe Compagno of CBRE’s Net Lease Property Group in Phoenix represented the seller and buyer in the deal.
HAYWARD, CALIF. — Faris Lee Investments has brokered the sale of a retail property located at 2401 Whipple Road in Hayward. A private investor acquired the asset from an undisclosed seller for $16 million. LA Fitness (City Sports Club) occupies the 41,000-square-foot facility on a corporate-guaranteed, absolute triple-net lease. Matt Brooks, Joe Chichester and Nicholas Coo of Faris Lee represented the seller and procured the buyer in the transaction.
RANCHO CUCAMONGA, CALIF. — Fit Development has completed the sale of Shops at Victoria Gardens, a retail strip center adjacent to the Victoria Gardens lifestyle center in Rancho Cucamonga. An undisclosed buyer acquired the property for $13.7 million. Constructed in 2007, the 31,405-square-foot property is leased to a diverse mix of service-oriented, daily needs and soft-goods tenants, including DXL Men’s Apparel, Pacific Dental and Shakey’s Pizza. The asset is situated on 2.6 acres at 12455 Victoria Gardens Lane. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the seller in the deal.
GLENDALE, ARIZ. — ORION Investment Real Estate has brokered the sale of Brittany Square, a retail center located at the corner of 67th and Peoria avenues in Glendale. An undisclosed seller sold the asset for $6.3 million, or $129 per square foot. Situated on 5.2 acres, Brittany Square features 49,004 square feet of retail space and on-site parking. At the time of sale, the property was 69 percent occupied by a variety of tenants, including Walmart Neighborhood Market, Starbucks Coffee, Chase Bank, Goodwill, O’Reilly Auto Parts and Circle K. The undisclosed buyer purchased the property as a long-term leased investment and plans to occupy a portion of the property for its medical-related business. Nick Miner of ORION represented the seller, while Tom Kolb of KW Commercial represented the buyer in the transaction.
FRESNO, CALIF. — Marcus & Millichap has arranged the sale of A-American Self Storage in Fresno. A limited liability company acquired the asset for an undisclosed price. Situated on 4.8 acres at 2455 N. Marks Ave., the facility features 717 non-climate-controlled units, totaling 77,053 net rentable square feet. Brett Hatcher, Gabriel Coe and Jacob Becher of Marcus & Milichap represented the seller and buyer in the deal. Jim Markel, also of Marcus & Millichap, assisted in the transaction and was broker of record for the deal.
NEW YORK CITY — Avison Young has negotiated the $10.2 million sale of the leasehold interest of a newly constructed office building in the Harlem neighborhood of Manhattan. The four-story property, which is located at 286 Lenox Ave., carries a 99-year ground lease. The property was fully leased at the time of sale to tenants including Wells Fargo, Child Mind Institute and Visiting Nurse Service. James Nelson and Brent Glodowski led an Avison Young team that represented the undisclosed building owner and seller of the leasehold interest. The buyer was also undisclosed.
MAGNOLIA, N.J. — Vantage Real Estate Services has brokered the sale of a 3,150-square-foot retail property in Magnolia, a southeastern suburb of Philadelphia. The property is located at 130 S. White Horse Pike near a Walmart store and several other retail and restaurant businesses. Monica Walsh, Aran Ploshansky and Bruce Goldstein of Vantage represented the seller, East Coast Enterprises LLC. The buyer was Makellos Cabinetry, a Philadelphia-based kitchen renovation company.
KENOSHA, WIS. — JLL Capital Markets has negotiated the $2.4 million sale of a 4,500-square-foot, single-tenant retail building net leased to Giordano’s restaurant in Kenosha. Completed in late 2019, the property is located at 7060 Green Bay Road. It is the first Giordano’s location in Wisconsin. Chicago-based Giordano’s, famous for deep dish pizza, opened in 1974 and operates nearly 70 locations. Alex Sharrin, Nicholas Kanich and Larry Kilduff of JLL represented the seller, Speedwagon Properties. JLL also procured the buyer, a Chicago-based family.
SPRINGFIELD, ILL. — Marcus & Millichap has arranged the sale of Victoria Village Apartments in Springfield for $1.8 million. The 106-unit apartment community is located at 2473 Ladley Court. It is situated on 6.4 acres and consists of 24 buildings. An on-site leasing and maintenance office spans approximately 1,200 square feet. Bryan Kunze and Scott Harris of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, a limited liability company.