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NAI Capital Brokers $5.5M Sale of Medical Office Building in Southern California

by Amy Works July 19, 2019

LOS ALAMITOS, CALIF. — NAI Capital has arranged the sale a medical office building, located at 10921 Cherry St. in Los Alamitos. Nautica LLC sold the property to ABG Property 1 LLC for $5.5 million, or $759 per square foot. The three-story property features 7,250 square feet of medical office space. At the time of sale, Los Alamitos Medical Surgery Center and Ocean Pacific Surgery Center fully occupied the building. Steve Body and Grant Bullen of NAI Capital’s Investment Services Group represented the seller in the deal.

July 19, 2019

6946-6968-Warner-Ave-Huntington-Beach-CA

Acquisitions California Retail Western

Hanley Investment Group Negotiates $4.1M Sale of Four-Tenant Asset in Huntington Beach

by Amy Works July 19, 2019

HUNTINGTON BEACH, CALIF. — Hanley Investment Group Real Estate Advisors has facilitated the sale of a multi-tenant retail building, located at 6946-6968 Warner Ave. in Huntington Beach. A San Diego-based private investor acquired the property from a Newport Beach, Calif.-based private investor for $4.1 million. Eric Wohl of Hanley Investment Group represented the seller, while Randy Rivera of Capital Real Estate Ventures represented the buyer in the deal. At the time of sale, the four-tenant, 8,600-square-foot retail property was fully occupied by Trading Post Fan Co., Advanced Dental Huntington Beach, Surf City Nails and Alternative Mind Concepts. Built in 1973, the property is shadow-anchored by Sprouts Farmers Market.

July 19, 2019

Acquisitions Midwest Ohio Retail

Marcus & Millichap Arranges $2M Sale of Property Net Leased to Rite Aid in Marion, Ohio

by Kristin Harlow July 19, 2019

MARION, OHIO — Marcus & Millichap has arranged the $2 million sale of a 10,617-square-foot property net leased to Rite Aid in Marion, approximately 50 miles north of Columbus. The building is located at 1081 Mount Vernon Ave. Rite Aid has operated at the location for more than 21 years. Dan Yozwiak, Joe Sparano and Nathan Coe of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not disclosed.

July 19, 2019

Acquisitions Arizona Office Western

MIG Real Estate Sells Arcadia Gateway Center Office Building in Phoenix for $17.2M

by Amy Works July 18, 2019

PHOENIX — MIG Real Estate has completed the sale of Arcadia Gateway Center, a Class A office building located at 4222 E. Thomas Road in Phoenix. Clayton A. Varga, trustee of the Varga Revocable Trust, acquired the property for $17.2 million, or approximately $191 per square foot. Constructed in 1999, the four-story property features 90,225 square feet of office space, a three-story parking structure, building signage and large floorplans. At the time of sale, the multi-tenant property was 96 percent occupied. Eric Wichterman, Mike Coover and Tim Whittemore of Cushman & Wakefield Phoenix represented the seller, while McAlister Cleary and Kelly O’Dea of Marcus & Millichap represented the buyer in the deal.

July 18, 2019

Acquisitions California Leasing Activity Restaurant Retail Western

Bolour Associates Acquires Quick-Serve Restaurant Site in Los Angeles for $7.4M

by Amy Works July 18, 2019

LOS ANGELES — Beverly Hills, Calif.-based Bolour Associates has purchased 0.69 acres, located at 163-179 S. Vermont St. in Los Angeles’ Koreatown, for $7.4 million. Simultaneous to the acquisition, Bolour signed long-term ground lease with an undisclosed quick-serve restaurant for the site. The site’s new tenant signed a 15-year, triple-net lease and is expected to complete tenant improvements on a standalone 3,209-square-foot building, located on the property, before opening for business. Alex Sachs and Brian Peterson of WESTMAC Commercial Brokerage Co. represented the buyer and undisclosed seller. Michael Pakravan of Matthews Real Estate Investment Services represented Bolour in the lease transaction.

July 18, 2019

Acquisitions California Restaurant Retail Western

Locker Realty Corp. Arranges $6.2M Acquisition of Starbucks-Occupied Building in California

by Amy Works July 18, 2019

MONROVIA, CALIF. — Locker Realty Corp. has arranged the purchase of a restaurant and drive-thru property located West Huntington Drive in Monrovia. An undisclosed buyer acquired the property for $6.2 million. Starbucks Coffee occupies the recently completed, 2,200-square-foot building, which is situated on 27,975 square feet of land. The tenant relocated to the new location, which includes a drive-thru and outdoor patio, from 621 W. Huntington Drive. The lease is a corporate signature Starbucks net lease with approximately 20 years remaining. Paul Locker and Kristine Locker of Locker Realty represented the buyer, while Pat Wade and Alex Kozakov of CBRE represented the undisclosed seller in the transaction.

July 18, 2019

Acquisitions Arizona Industrial Western

Realty Advisory Group Arranges Acquisition of 319,860 SF Industrial Property in Phoenix

by Amy Works July 16, 2019

PHOENIX — Realty Advisory Group has brokered the acquisition of a single-tenant industrial property located at 2060 S. 51st Ave. in Phoenix. Nuveen Real Estate purchased the property for an undisclosed price. The name of the seller was not released. Situated on 17.44 acres, the property features 319,860 square feet of Class A industrial space. At the time of sale, the asset was 100 percent leased to Royal Paper Converting. The building features 30-foot clear heights, 38 dock-high doors, an ESFR sprinkler system and future divisibility options. John Repstad and Mark Repstad of Realty Advisory Group represented the buyer in the deal.

July 16, 2019

Acquisitions Arizona Industrial Mixed-Use Office Retail Western

CBRE Negotiates $13.3M Sale of Mixed-Use Chandler Business Center in Arizona

by Amy Works July 16, 2019

CHANDLER, ARIZ. — CBRE has arranged the sale of Chandler Business Center, a creative office, flex-tech and retail space located in Chandler. New York-based Fullerton Properties acquired the multi-tenant property from Los Angeles-based Montana Avenue Capital for $13.3 million. Located at 6150 and 6170 W. Chandler Blvd., Chandler Business Center is a two-building, value-add, mixed-use complex offering a total of 129,840 square feet. Butler Design Group designed the property in collaboration with Trammell Crow Co., completing construction in 2012. At the time of sale, the property was 54 percent leased to a variety of tenants, including New Heights Church, Advance Auto Parts, Newark Corp. and Children’s Cancer Network. Glenn Smigiel, Bob Young, Steve Brabant, Rick Abraham, Mark Krison and Jackie Orcutt of CBRE represented the seller in the deal.

July 16, 2019

Acquisitions California Office Western

Colliers Brokers $10M Sale of Three-Story Office Building in Los Angeles

by Amy Works July 16, 2019

LOS ANGELES — Colliers International has facilitated the sale of an office building located within Larchmont Village near the Los Angeles neighborhood of Hancock Park. Cerrell Associates sold the three-story building to 324 N. Larchmont LLC for $10 million, just under $810 per square foot. The three-story building features 12,400 square feet of office space. Nathan Pellow, Michael Weiner and Nick Nybakken of Colliers represented the seller, while John Repstad of Realty Advisory Group represented the buyer in the transaction.

July 16, 2019

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale of 254,460 SF Industrial Building in Indianapolis

by Kristin Harlow July 16, 2019

INDIANAPOLIS — Colliers International has brokered the sale of a 254,460-square-foot industrial building in Indianapolis for an undisclosed price. The property is located at 4310 Stout Field Drive within the Stout Field Industrial Park. The asset is situated within the southwest submarket of Indianapolis, the most active industrial submarket in the city, according to Colliers. The property offers convenient access to I-70 and the Indianapolis International Airport. The site also includes approximately three acres of excess land for future development. Progressive Logistics, Dugdale Foods, Gilmore Supply and GS Transportation fully occupy the property. Alex Davenport, Alex Cantu and Mike Lubbers of Colliers brokered the transaction on behalf of the seller, SAW Capital. The O’Donnell Group Inc., a southern California-based developer, purchased the building.

July 16, 2019

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