INDIANAPOLIS — Millennial Holdings, a New Jersey-based real estate group, has purchased Felbram Plaza North, a nearly 200,000-square-foot shopping center on the south side of Indianapolis. The purchase price was not disclosed. The property is approximately 75 percent leased. Millennial plans to repair the parking lot, replace the roof and install new HVAC units. Anchor tenants include Shopper’s World, Dollar Tree, Dollar General and MCL. John Riser of Riser Retail Group represented Millennial and the seller in the transaction. McCrea Property Group serves as leasing agent.
PEORIA, ARIZ. — JLL Healthcare Capital Markets Group has brokered the sale of Thunderbird Wellness Centre in Peoria. A joint venture between developer/owner MedProperties Group and Virtus Real Estate Capital sold the property to Chicago-based MBRE Healthcare for an undisclosed price. A USPI-affiliated ambulatory surgery center anchors the four-building, 56,190-square-foot, Class A medical office and specialty retail asset. At the time of sale, the property was fully occupied. Daniel Turley of JLL Healthcare Capital Markets Group advised the seller in the deal.
LOGAN, UTAH — Four Corners Property Trust (FCPT) has purchased three restaurant outparcel properties located adjacent to a mall in Logan. The aggregate acquisition price was $4.9 million. The name of the seller was not released. The properties are a Texas Roadhouse, Olive Garden and Arby’s, and each property is leased to corporate operators under triple-net leases with approximately seven years of weighted average term remaining.
LAKEWOOD, COLO. — Newmark Knight Frank Colorado has arranged the sale of a retail property located at 1460 S. Wadsworth Blvd. in Lakewood. Wild Diversified LLC acquired the property from John Schmalz for $1.3 million. The property features 9,600 square feet of retail space. Steven Fletcher of Newmark Knight Frank Colorado represented the seller. Land Title Guarantee Co. and Colliers Bennett & Kahnweiler also participated in the transaction.
BENTON, ILL. — Barber Murphy has brokered the sale of a 397,000-square-foot manufacturing plant in Benton for an undisclosed price. The property is situated on 39 acres at 451 E. Illinois Ave. Marine Acquisitions Inc. sold the plant to Mincon Rockdrills USA Inc. Barber Murphy represented both parties in the sale.
FOREST LAKE, MINN. — KW Commercial has arranged the sale of A-1 Mini Storage in Forest Lake for $2.7 million. The self-storage facility is located northeast of the Twin Cities metro area. Built in 1997, the 38,450-square-foot property was expanded in 2007 and 2008. It now spans 10 buildings. Tom Flannigan, Alex Ihrke and Corly Wilkerson of KW Commercial represented the undisclosed seller. The buyer has the opportunity to add an onsite office and utilize the 15.5-acre site for additional mini-storage buildings, according to the brokers.
KAPOLEI, HAWAII — Alexander & Baldwin has purchased the ground lease interest in Kapolei Business Park West Lot 31 in Kapolei for $41 million in an off-market transaction. The property is commonly known as the Honolulu Authority of Rapid Transportation (HART) precast yard. The 36.4-acre parcel of I-2 (industrial-zoned) land is licensed to the City and County of Honolulu through 2025. The property is a fabrication facility and storage yard for the precast concrete components of the guideways for the HART rail project. Additional terms of the sale were not released.
INDIO, CALIF. — Faris Lee Investments has arranged the sale of two retail strip centers — Rubidoux Plaza and South Rubidoux — in Indio. The assets sold for a combined total of $4.6 million. Totaling nearly 20,000 square feet, the retail centers are located along Highway 111 and serve the entire Coachella Valley area. Tom Chichester of Faris Lee Investments represented the seller in the transactions. The names of the seller and buyers were not released.
AURORA, ILL. — Marcus & Millichap has brokered the sale of a 24-unit multifamily property in Aurora for $1.6 million. Located at 1601-1603 Reckinger Road, the property consists of two 12-unit buildings. Randolph Taylor of Marcus & Millichap marketed the property on behalf of the local seller. The undisclosed buyer completed a 1031 tax-deferred exchange.
INDIO, CALIF. — Marcus & Millichap has arranged the sale of a retail property, located at 82360 U.S. Highway 111 in Indio. An individual/personal trust acquired the 9,888-square-foot property for $2.1 million at a 6.7 percent capitalization rate. Edwin Mariscal of Marcus & Millichap’s Ontario, Calif., office represented the buyer in the deal.