JOHNSON CREEK, WIS. — Marcus & Millichap has arranged the sale of the Comfort Suites Johnson Creek, a 100-room hotel located about 45 miles west of Milwaukee. The sales price was not disclosed. The property is located at 725 Paradise Lane near I-94. It includes approximately 7,600 square feet of event space. Jake Erickson and Jared Plamann of Marcus & Millichap represented the undisclosed buyer and seller in the transaction.
ALBUQUERQUE — Hodges Ward Elliott (HWE) has arranged the sale of DoubleTree by Hilton Hotel Albuquerque Downtown, located at 201 Marquetta Ave. NW in Albuquerque. AWH Partners acquired the hotel for an undisclosed price. Connected to the recently renovated Albuquerque Convention Center, the hotel features 295 guest rooms and more than 8,100 square feet of meeting space. Additionally, the property has undergone more than $8.3 million in capital improvements since 2015. Michael DiPrima, Rick Rush and Diana Simpson of HWE’s Los Angeles team represented the undisclosed seller, while Lawrence Britvan, also of HWE, advised the buyer on acquisition financing.
PORTLAND, ORE. — Marcus & Millichap has arranged the sale of a restaurant property located at 704 NW 21st Ave. in Portland. A limited liability company sold the asset to a private investor for $1.2 million in an off-market transaction. Bhuna, a fast-casual Indian restaurant, occupies the 1,878-square-foot property on a net-leased basis. Joseph Blatner and Scott Logan of Marcus & Millichap’s Portland office represented the seller. Michael Shall, also of Marcus & Millichap, represented the buyer in the deal. Neither party was disclosed.
ARLINGTON HEIGHTS, ILL. — Marcus & Millichap has brokered the sale of a 125-room Comfort Inn hotel in Arlington Heights for $7.5 million. The 125-room property is located at 2120 S. Arlington Heights Road, less than nine miles from Chicago O’Hare International Airport. The three-story hotel features a business center, fitness center, meeting rooms and dry cleaning services. Ebrahim Valliani, Michael Klar, Allan Miller and Chris Gomes of Marcus & Millichap marketed the property on behalf of the undisclosed seller and represented the buyer.
CORONA, CALIF. — JLL has arranged the sale of Corona Hills Marketplace, a grocery-anchored community shopping center located in the Corona Hills neighborhood of Corona. A public REIT sold the property to a private investor for $31.5 million. Situated on 12.3 acres at 529-591 N. McKinley St., Corona Hills Marketplace features 148,805 square feet of retail space in California’s Riverside County. At the time of sale, the property was 98 percent leased to a mix of daily-needs and service-oriented tenants. Anchor tenants include Vons, PetSmart and Howard’s Appliances. Gleb Lvovich, Bryan Ley and Daniel Tyner of JLL Capital Markets represented the seller in the transaction.
NEWBURY PARK, CALIF. — Beta, a California-based commercial real estate agency, has negotiated the sale of a retail building located at 3057 Grande Vista Drive in Newbury Park. AHS Property Inc. acquired the asset from Academy Road LLC. Although the price was not disclosed, the building was listed for $15 million. LA Fitness occupies the 37,346-square-foot building, which is located within the 575,644-square-foot Village at Newbury Park shopping center, which was developed this year. Additional tenants at the shopping center include Target, The Home Depot, Staples, Lowe’s Home Improvement Warehouse and PetSmart. Richard Rizika and Yvonne Shum of Beta represented the seller, while Mark Thiel of Marcus & Millichap represented the buyer in the deal.
VISTA, CALIF. — Lee & Associates – North San Diego County has brokered the purchase of a net-leased investment property located at 1046-1050 La Mirada Court in Vista. Sterndahl Group 3 LLC acquired the asset from The San Diego 17 Trust for $2.4 million, or $205 per square foot. At the time of sale, the 11,971-square-foot building was leased to H2O Innovation USA on a long-term basis. The tenant specializes in water filtration, wastewater treatment and water reuse. Isaac Little, Marko Dragovic, TJ Donnelly and Matt Weaver of Lee & Associates – North San Diego County represented the buyer, while Rocket Glass represented the seller in the transaction.
BLAINE, MINN. — Upland Real Estate Group Inc. has arranged the $4.1 million sale of a 16,000-square-foot retail property occupied by Harbor Freight in Blaine, about 15 miles north of Minneapolis. Harbor Freight was founded in 1977 in California as a mail-order hardware company. Today, the company operates more than 1,000 stores across the country. Buyer and seller information was not disclosed, but the buyer purchased the property in an all-cash 1031 exchange.
FESTUS, MO. — Marcus & Millichap has brokered the $3.6 million sale of a Comfort Inn hotel in Festus, about 40 miles south of St. Louis. The 89-room property is located at 1303 Veterans Blvd. and recently underwent a renovation. Ebrahim Valliani, Michael Klar, Allan Miller and Chris Gomes of Marcus & Millichap represented the undisclosed buyer and seller.
GOODYEAR, ARIZ. — Nike Inc. has acquired an industrial property located at the south southeast corner of 143rd Avenue and Van Buren Street in Goodyear. An undisclosed seller sold the property for $69.8 million, or approximately $77 per square foot. Situated on 49.9 acres and built in 2018, the asset features 901,699 square feet of I-1-zoned industrial space. Walter Unger of Kasten Long Commercial Group arranged the transaction.