ANAHEIM, CALIF. — Marcus & Millichap has arranged the sale of a retail property located at the intersection of Lemon Street and Orangethorpe Avenue in Anaheim. An undisclosed developer acquired the asset from a private investor for $2.5 million. The buyer plans to make improvements to the 5,752-square-foot property. At the time of sale, six local tenants occupied the two-building asset. Michael Matter and Nicholas Phillips of Marcus & Millichap’s South Bay, Calif., office represented the seller in the deal.
PEWAUKEE, WIS. — The Barry Co. has brokered the $15 million sale-leaseback of Harken Inc.’s headquarters in Pewaukee. The 170,000-square-foot industrial building features 30,000 square feet of second-floor office space. The facility was constructed in 2012 as a build-to-suit for Harken, which is a manufacturer and marketer of marine hardware and accessories used in events such as America’s Cup and the Olympics. David Buckley of Barry brokered the transaction. HRKN LLC, a private real estate group not affiliated with Harken, purchased the property.
PERU, ILL. — Marcus & Millichap has negotiated the $2.5 million sale of a 61-room Super 8 hotel in Peru, which is located in central Illinois. The property is situated at 1851 May Road. Ebrahim Valliani, Michael Klar and Chris Gomes of Marcus & Millichap brokered the transaction on behalf of the undisclosed buyer and seller. The hotel caters to leisure and business clientele.
COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has arranged the purchase of Regal Estates Apartments, a multifamily property located at 105, 115, 125, 135, 145 and 155 S. Academy Blvd. in Colorado Springs. Hazel Grace LLC acquired the 150-unit property from an undisclosed seller for $17.2 million. Mike Krebsbach of Pinnacle Real Estate represented the buyer in the deal.
MILWAUKIE, ORE. — Weingarten Realty has completed the disposition of Oak Grove Market, a four-building shopping center located at 15003-15121 SE McLoughlin Blvd. in Milwaukie. Clackamas Federal Credit Union acquired the 97,147-square-foot asset for an undisclosed price. The buyer plans to occupy the 53,000-square-foot former Safeway space at the property, which was built in 1991 by Gramor Development. Additional tenants include Five Guys, Baxter’s Auto Supply, Bank of America, Panda Express, Credit Concepts and Gentle Dental. Todd VanDomelen and Timothy Pfeiffer of Norris & Stevens represented the buyer, while Connelly Woody and Gary Surgeon of Commercial Realty Advisors Northwest represented the seller in the transaction.
DENVER — Marcus & Millichap has brokered the sale of Central Park Plaza, a shopping center located in Denver’s Stapleton neighborhood. A private investor acquired the property for $5.1 million. Located at 5096 Central Park Blvd., Central Park Plaza features 17,844 square feet of retail space. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the buyer and seller, a private investor, in the deal.
HOLLAND, MICH. AND BRYAN, OHIO — Industrial Commercial Properties LLC (ICP) has acquired two industrial properties totaling 470,000 square feet in Holland, Mich. and Bryan, Ohio. ICP purchased the buildings from Adient, an automotive seat manufacturer. Both properties are fully leased to Yanfeng Automotive Interiors, a global supplier of interior equipment for the automotive industry headquartered in Shanghai, China. The Holland facility is 148,000 square feet while the Bryan facility is 320,500 square feet.
LANSING, MICH. — Marcus & Millichap has negotiated the sale of a CubeSmart Self Storage facility in Lansing. The sales price was not disclosed. The 67,500-square-foot property is located at 4724 S. Creyts Road. The facility includes 89 climate-controlled units and 444 standard drive-up units for a total of 533 units. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also procured the buyer, a limited liability company.
MOORPARK, CALIF. — Orange County, Calif.-based MCA Realty has completed the sale of an industrial building, located at 14401 Princeton Ave. in Moorpark. Big Brand Tires acquired the asset for $10.2 million. The buyer plans to fully occupy the 69,914-square-foot property. MCA purchased the property in November 2017, as part of a 137,465-square-foot, two-building industrial acquisition for $7.5 million. Renovations included the removal of approximately 20,000 square feet of mezzanine space to create more functional space. Additionally, the seller added an expansion truck court and large loading dock with a canopy. Bennett Robinson of CBRE, along with Robert Griffin and Rick Sheckter of Newmark Knight Frank, represented the seller, while John Ochoa of Lee & Associates represented the buyer in the transaction.
SEATAC, WASH. — Marcus & Millichap has arranged the sale of International Boulevard Self Storage, a self-storage facility located in SeaTac. A local investment group acquired the asset for $6.5 million. Located at 19825 International Blvd., the 45,273-square-foot property features 453 self-storage units. The facility was built in 1974. Christopher Secreto of Marcus & Millichap’s Seattle office represented the out-of-state seller and secured the buyer in the deal.