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DAUM Commercial Negotiates $8.2M Sale of 123,754 SF Industrial Building in Phoenix

by Amy Works June 14, 2019

PHOENIX — DAUM Commercial Real Estate Services has facilitated the sale of an industrial building located in Phoenix’s Southwest submarket. Exeter Property Group purchased the asset from David Turner International for $8.2 million in an off-market transaction. Situated on 7.2 acres at 4502 W. Monterosa St., the 123,754-square-foot property features an air-conditioned warehouse, six dock-high doors, two grade-level doors, ample parking and 24-foot clear heights. Trevor McKendry and Chris Rogers of DAUM represented the buyer and seller in the deal.

June 14, 2019

Acquisitions Arizona Multifamily Western

Pillar Communities Sells 315-Unit Apartment Community in Arizona for $67.8M

by Amy Works June 13, 2019

GILBERT, ARIZ. — Pillar Communities & Private Portfolio Group has completed the disposition of Pillar at SanTan, a garden-style apartment complex located at 2910 S. Greenfield Road in Gilbert. Baron Properties acquired the asset for $67.8 million. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix office represented the seller in the transaction. Constructed in 2009, Pillar at SanTan features 315 units in a mix of studio, one-, two- and three-bedroom floorplans with nine-foot ceilings, well-appointed kitchens and patios/balconies. Community amenities include a resort-style swimming pool, spa, poolside lounge, outdoor kitchen, fitness center, outdoor picnic areas, grills and a playground.

June 13, 2019

Acquisitions Illinois Midwest Multifamily

Berkadia Negotiates $7M Sale of Multifamily Property in Rantoul, Illinois

by Kristin Harlow June 13, 2019

RANTOUL, ILL. — Berkadia has negotiated the $7 million sale of South Pointe Commons in Rantoul, about 19 miles northeast of Champaign. The 245-unit multifamily property was originally built in 1959 as military housing for Chanute Air Force Base, which closed in 1993. The property is situated on 150 acres and consists of 37 two-story buildings. Floor plans are comprised of three- and four-bedroom units ranging from 1,050 to 2,300 square feet. Ralph DePasquale, Parker Stewart and Alex Blagojevich of Berkadia represented the Urbana, Ill.-based seller. Philadelphia-based Odin Properties purchased the asset.

June 13, 2019

Acquisitions Indiana Industrial Midwest

Plymouth Industrial REIT Purchases Facility in Indianapolis for $17.1M

by Kristin Harlow June 12, 2019

INDIANAPOLIS — Plymouth Industrial REIT Inc. has purchased a multi-tenant, Class B industrial building in Indianapolis for $17.1 million. Located on Sam Jones Expressway, the 484,879-square-foot property is situated in the Southwest submarket in close proximity to the Indianapolis International Airport. The facility is fully leased by Phoenix Material Management, a provider of container management solutions, and Quemetco Inc., a subsidiary of RSR Corp. that recycles lead-based batteries.

June 12, 2019

Acquisitions Healthcare Indiana Midwest

Strawberry Fields REIT Sells Medical Office Building in Indiana for $6.1M

by Kristin Harlow June 12, 2019

VALPARAISO, IND. — Strawberry Fields REIT LLC has sold The Glendale Medical Center in Valparaiso for $6.1 million. The property features a 20,207-square-foot main building constructed in 1967 and an 8,630-square-foot annex building constructed in 2007. The main building was renovated in conjunction with the construction of the annex building. Strawberry Fields sold the property because it was not within the company’s core investment strategy of owning and managing skilled nursing facilities, according to CEO Moishe Gubin. The buyer was not disclosed.

June 12, 2019

Acquisitions California Net Lease Retail Western

Flocke & Avoyer Negotiates Sale of Three Triple-Net Leased Assets in Oceanside, California

by Amy Works June 12, 2019

OCEANSIDE, CALIF. — Flocke & Avoyer Commercial Real Estate has directed the sale of three single-tenant, triple-net leased assets at Pacific Coast Plaza Center, a 450,000-square-foot retail center in Oceanside. AGC Pacific Coast Plaza sold the three properties for a total consideration of $11.2 million. Mahalah PCP Pad A and C acquired two properties, occupied by McDonald’s and Mimi’s, while H&S Energy purchased the Chevron-occupied asset. Steve Avoyer of Flocke & Avoyer represented the buyer, a private 1031 exchange, in the McDonald’s and Mimi’s transaction. El Warner of The Matthews Group, along with Stewart Keith, Brad Williams and Ashley Tiefel of Flocke & Avoyer Commercial Real Estate, represented the seller of the McDonald’s and Mimi’s deal.

June 12, 2019

Acquisitions Colorado Industrial Net Lease Western

Unique Properties Brokers $4.1M Sale of Industrial Property in Denver

by Amy Works June 12, 2019

DENVER — Unique Properties / TCN Worldwide has negotiated the sale of an industrial asset, located at 6400 Washington St. in Denver. Gibraltar Property Management acquired the property from North Denver Group Co-Tenancy for $4.1 million. Situated on 4.7 acres, the asset consists of a 14,540-square-foot industrial service and rental center. The property features a large storage yard, oversized drive-in doors and a showroom area. At the time of sale, the property was fully leased to United Rentals under an absolute triple-net lease basis. Brett MacDougall and Michael DeSantis of Unique Properties / TCN Worldwide represented the buyer and seller in the transaction.

June 12, 2019

Acquisitions Healthcare Indiana Midwest

Marcus & Millichap Negotiates $3.6M Sale of Property Net Leased to Fresenius in Northwest Indiana

by Kristin Harlow June 11, 2019

EAST CHICAGO, IND. — Marcus & Millichap has negotiated the $3.6 million sale of a 9,109-square-foot property net leased to Fresenius Medical Care in East Chicago, about 23 miles southeast of the Windy City. Fresenius has signed a new 15-year lease at the building, which is located at 4016 Main St. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller. An out-of-state buyer purchased the asset. Fresenius specializes in the production of medical supplies for dialysis.

June 11, 2019

Acquisitions Industrial Northeast Pennsylvania Self-Storage

Cushman & Wakefield Arranges Sale of 718-Unit Self-Storage Facility Near Philadelphia

by Taylor Williams June 11, 2019

CLIFTON HEIGHTS, PA. — Cushman & Wakefield has arranged the sale of a 718-unit self-storage facility in Clifton Heights, a western suburb of Philadelphia. The property comprises 82,116 rentable square feet with 590 climate-controlled units and 128 non-climate-controlled units. Units range from 18 to 320 square feet. Mike Mele, Robert Bloch and Noah Obuchowski of Cushman & Wakefield represented the seller, an affiliate of Vertical Fields Capital LLC, in the transaction. The buyer and sales price were not disclosed. CubeSmart has been retained as a third-party manager. More than 200,000 people with an average household income in excess of $80,000 live within a three-mile radius of the property.

June 11, 2019

Acquisitions California Industrial Western

SteelCo USA Acquires 68,175 SF Manufacturing Facility in Inland Empire for $10.7M

by Amy Works June 11, 2019

CHINO, CALIF. — SteelCo USA has purchased a manufacturing facility located at 13900 Sycamore Way in Chino. A private individual sold the property for $10.7 million. Built in 1986, the 68,175-square-foot facility features 10,116 square feet of office space, 26-foot minimum clear height and eight ground-level drive-in doors with 1.8 acres of excess land. The property will serve as SteelCo USA’s sixth facility in the Inland Empire. West Coast Steel divisions include SteelCo USA, Great Pacific Elbow, Mission Metals and Deluxe Building Products. Tim Pimentel, Chuck Belden and Kyle Kehner of Cushman & Wakefield’s Ontario, Calif., office represented SteelCo USA, while David Nguyen of Lee & Associates and Brad Yates of Colliers International represented the seller in the transaction.

June 11, 2019

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