INDIANAPOLIS — Plymouth Industrial REIT Inc. has purchased 10 industrial buildings totaling 2.1 million square feet in Indianapolis for $62 million. Included in the portfolio is Shadeland Commerce Center, a nine-building property totaling approximately 1.7 million square feet. It is 95 percent leased to 26 tenants, including Penske, ABC Supply Co., PPG Industries and Ryder. Plymouth also acquired 7901 W. 21st St., a 353,000-square-foot building that is fully leased to Iron Mountain and Venture Logistics. The seller information was not disclosed. Plymouth is a publicly traded REIT focused on the acquisition and operation of industrial properties located largely in secondary markets across the United States. John Huguenard, Sean Devaney, Brian Seitz and Brian Buschuk of JLL represented the seller of Shadeland Commerce Center.
MOUNT PLEASANT, WIS. — VK Industrial V LP, a partnership between Venture One Real Estate and Kovitz Investment Group, has acquired a 151,474-square-foot industrial building in Mount Pleasant for an undisclosed price. The facility, built in 2007, is located at 3535 Oakes Road. The building features a clear height of 21.5 feet, six exterior docks, two drive-in doors and 8,372 square feet of office space. A concrete parking lot can accommodate 301 cars and 112 trailers. The site can accommodate additional outdoor storage, parking or an industrial build-to-suit on an adjacent 25-acre parcel. Brian Bocci of Entre Commercial Realty represented Venture One in the transaction and will be retained to market the vacant property for lease. The seller was undisclosed.
SIMI VALLEY, CALIF. — Lee & Associates-LA North/Ventura has arranged the sale of a research and development building located at 685 E. Cochran St. in Simi Valley. Albert Halami, a private investor, acquired the asset from 685 Cochran Holdings LLC for $11 million, or $183 per square foot. The seller will continue to occupy a portion of the 60,416-square-foot property for its businesses, which include SensoScientific, under a sale-leaseback arrangement. Other tenants at the fully leased building include Hangman Products and Brown & Brown Insurance. Built in 1986, the two-story property features 22-foot and 24-foot clear heights, two dock-high doors and three grade-level loading doors. The second floor, with about 20,000 square feet of general and engineering offices, was fully renovated in 2015. The buyer plans to continue the renovation efforts, including re-landscaping and improving the parking lot. Mike Tingus and Grant Fulkerson of Lee & Associates-LA North/Ventura.
AURORA, COLO. — CBRE has arranged the sale of Moncrieff Business Center, an industrial building located in Aurora. San Francisco-based Berkeley Partners sold the property to an investor advised by Zurich Alternative Asset Management for $9.9 million. Located at 14603 E. Moncrieff Place within Denver’s Airport submarket, the 101,406-square-foot building features 22-foot clear heights; an ESFR fire protection system; dock-high and oversized drive-in loading; rail doors serviced by Union Pacific; and fenced outside storage. Constructed in 1982 on 4.23 acres, the property was fully leased at the time of sale. Tyler Carner, Jeremy Ballenger, Jim Bolt and Jessica Osternick of CBRE’s Denver office represented the seller in the deal.
BERRIEN SPRINGS, MICH. — Greystone Bel Real Estate Advisors has arranged the sale of Park Manor Apartments in southwest Michigan’s Berrien Springs. The sales price was undisclosed. Built in 1971 and located on Rosehill Road, the 94-unit garden-style community is situated on nearly six acres. The property consists of nine separate buildings. Austin Hull of Greystone Bel represented the undisclosed buyer and seller.
COLLINSVILLE, ILL. — Marcus & Millichap has negotiated the sale of a Stowaway Self Storage facility in Collinsville, east of St. Louis. The sales price was undisclosed. Located at 1 Business Center Court, the property spans 44,038 square feet with 354 units. It features a variety of unit types ranging from five to 60 square feet in size. Britney Hendricks and Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller, an individual trust. The team also procured the buyer, a private investor.
WESTMINSTER, COLO. — A fund sponsored by CBRE Global Investors has purchased The Tenzing, a 297,615-square-foot apartment property located in Westminster, approximately 25 minutes north of downtown Denver. Terms of the transaction were not released. Located at 11674 N. Pecos St., The Tenzing features 320 apartments in a mix of one-, two- and three-bedroom floor plans. Community amenities include a fitness center, yoga studio, saltwater pool, outdoor barbecue grills, dog wash station, outdoor dog park, bike repair shop and business center. At the time of sale, the property was 90 percent occupied.
PHOENIX — JLL Income Property Trust has acquired Chandler Distribution Center, a Class A industrial asset located in the Southeast submarket of Phoenix. An undisclosed seller sold the property for $31 million. Located immediately off Arizona State Route 202, Chandler Distribution Center features two newly developed Class A warehouses designed to accommodate a wide range of tenant sizes including those under 35,000 square feet. At the time of sale, the property was 97 percent occupied. Jones Lang LaSalle Income Property Trust Inc. is a REIT that owns and manages a diversified portfolio of apartment, industrial, office and retail properties.
ALOHA, BEAVERTON AND TIGARD, ORE. — Trion Properties has acquired a three-property multifamily portfolio in metro Portland for a total consideration of $26 million. NBP Capital sold the portfolio, which offers a total of 162 apartments. The transaction included Aster Parc Townhomes in Aloha; Parker Apartments in Beaverton, and York Apartments in Tigard. Located at 18745 Farmington Road, Aster Parc features 62 units in a mix of townhome and garden-style flats ranging from studio to three-bedroom layouts. Amenities include in-unit washers/dryers, private courtyards, landscaping and ample parking. Parker Apartments, located at 17135 SW Heritage Court, features 48 two- and three-bedroom units with private decks or patios and garage parking. Located at 7582 SW Hunziker St., York Apartments offers 52 one- and two-story flats ranging from studio to four-bedroom layouts. Continental Partners arranged a $19.1 million loan to finance the acquisition. Rob Marton of HFO Investment Real Estate represented Trion Properties in the deal.
ANAHEIM, CALIF. — Hamra Properties has purchased Anaheim Hills Business Center, an industrial and office business park located at 5100-5150 E. La Palma Ave. in Anaheim. Seligman Group sold the asset for $21.3 million. Jeffrey Cole, Jeff Chiate, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield’s Irvine, Calif., office represented the seller, while Rick Ellison and Randy Ellison of Cushman & Wakefield served as market advisors. Built in 1988, the five-building campus features 154,627 square feet of industrial and office space. The property includes grade-level doors, landscaping with palm trees and abundant parking at a ratio of three stalls per 1,000 square feet. The buildings range in size from 19,000 square feet to 49,000 square feet, accommodating tenants as small as 700 square feet.