COLUMBUS, OHIO — Marcus & Millichap has brokered the sale of a 3,480-square-foot property net leased to Sherwin-Williams in Columbus for $1.9 million. Built in 2016, the property is located at 634 S. High St. Dan Yozwiak of Marcus & Millichap marketed the building for sale on behalf of the seller, a limited liability company. Yozwiak also represented the buyer, a limited liability company.
ST. AUGUSTA, MINN. — KW Commercial has arranged the sale of Delux Retail Center, a 15,310-square-foot retail center in St. Augusta near St. Cloud. Snap Fitness and Delux Liquor anchor the property, which is located at 24086 State Highway 15. Matthew Klein and Anthony Passanante of KW Commercial/AMK Properties represented the buyer, MSK Realty LLC, which purchased the asset for $975,000. Steve Feneis and Maria Berdan of Granite City Real Estate represented the undisclosed seller.
NEW YORK CITY — SL Green Realty Corp., a publicly traded office investment firm, has acquired 603 West 50th Street, a 160,000-square-foot office building in Manhattan. KCP Holdco Inc., an affiliate of the seller that currently occupies the property, will lease approximately 40,000-square-feet of office space to serve as its headquarters. SL Green will undertake a full-building repositioning to elevate the profile of this asset, which was originally built in 1940. Woody Heller and David Heller of Savills Studley represented the undisclosed seller in the transaction.
RANCHO CUCAMONGA, CALIF. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Sunlit Gardens, an 86-unit assisted living and memory care community in the San Bernardino County city of Rancho Cucamonga. A joint venture between Meridian Senior Living and a Chicago-based private equity firm sold the property to an Orange County-based equity group for an undisclosed price. The Blueprint transaction team consisted of Jacob Gehl, Humair Sabir and Scott Frazier.
AUBURN, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Green River Village, a multifamily property located in Auburn. Green River Auburn LLC acquired the asset from an undisclosed seller for $21 million, or $143,835 per unit. Completed in 1976, Green River Village is situated on 3.1 acres and features 146 apartments. The property is also located approximately three miles from Green River Community College and four miles from Auburn Station. Sidney Warsinske, Ryan Dinius, Philip Assouad and Giovanni Napoli of IPA represented the seller and procured the buyer in the deal. Ray Allen and Seth Heikkila of IPA Capital Markets arranged financing for the buyer. The loan provided a structured bridge solution to fund 75 percent of both acquisition and planned renovations set to take place over the next 24-month loan term at a 5.25 percent interest-only rate of payment.
MESA, ARIZ. — Westmount Realty Capital has entered the Arizona with the acquisition of 949 at the District, an apartment community located at 949 S. Longmore St. in Mesa. The buyer plans to rebrand the property as Westmount at the District. This deal marks the real estate investment company’s first acquisition in Arizona and first multifamily purchase outside of Texas. Built in 1979, the property features 154 units in a mix of one- and two-bedroom layouts that average 825 square feet. Westmount plans to renovate the property with in-unit upgrades including resurfaced counters, stainless steel appliances, refaced cabinets, faux-wood flooring, upgraded lighting and new hardware. Additionally, the renovations will include offering smart home technology, including smart thermostat, smart lock and USB outlets. Community amenities include two swimming pools, an attached clubhouse and leasing office, fitness center, outdoor grilling stations, an on-site dog park, restricted entry and covered parking. Westmount also plans to install a package locker system. Shelton Residential will manage the property.
SEATTLE — Marcus & Millichap has directed the sale of The Montage, a multifamily property located in Seattle. A limited liability company sold the property to a local investment company for $10.5 million in a 1031 exchange. Located at 1422 Boylston Ave., The Montage features 23 condominium units that have been operated as rental units since the property was constructed in 2007. George Miller and Spencer Clark of Marcus & Millichap represented the seller, while Christopher Hardman, also of Marcus & Millichap, represented the buyer in the deal.
PHOENIX — Griffin Opportunities has completed the sale of Desert Gateway, a two-building industrial project in Phoenix. Greenwood & McKenzie Real Estate Investments purchased the asset for an undisclosed price. The 172,803-square-foot property is located at 909 W. Pinnacle Peak Road and 1000 W. Vista Bonita Drive. Will Strong of Cushman Wakefield’s Capital Markets, along with Chris Rogers and Trevor McKendry of Daum Commercial Real Estate Services, handled the transaction.
OAKLAND, CALIF. — CenterPoint Properties has acquired an industrial facility situated on 6.8 acres at 5901 San Leandro St. in Oakland. Terms of the deal, including the price and seller’s name, were not released. Located in the heavy-haul corridor, the 130,513-square-foot asset offers secured, excess loading with heavy-haul capability and a controlled, fully-lit intersection. Additionally, the property features a secured 200-foot truck court, an above-market loading ratio, 22-foot to 24-foot clear heights, and the opportunity to add Union Pacific rail service. Mark Maguire, Justin Smutko and Nick Mascheroni of Colliers International represented CenterPoint in the transaction.
SPARKS, NEV. — CIRE Equity has purchased Sparks Galleria, a grocery-anchored retail center located in Sparks, a suburb of Reno. Pine Tree Commercial Realty sold the asset for $40.6 million. Anchored by Sprouts Farmers Market and Marshalls/HomeGoods, Sparks Galleria features 212,647 square feet of retail space. Additional tenants include Starbucks Coffee, Qdoda Mexican Eats, See’s Candies and Kay Jewelers. Colliers International, in collaboration with Newmark Knight Frank, represented the seller in the deal.