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Crystal Investment Property Directs Sale 69-Key Howard Johnson in Oregon

by Amy Works February 25, 2019

SALEM, ORE. — Crystal Investment Property has arranged the sale of Howard Johnson by Wyndham Salem, located at 2250 Mission St. SE in Salem. Terms of the sale were not released. The interior-corridor hotel features 69 guest rooms and a one-bedroom/one-bath owner’s quarters unit. On-site amenities include an outdoor pool, breakfast area, exercise room, guest laundry facilities, truck/bus/RV parking and a business center. Joseph Kennedy of Crystal Investment Property handled the transaction for undisclosed seller and buyer.

February 25, 2019

Acquisitions California Restaurant Retail Western

SRS Brokers $3M Sale of Del Taco-Occupied Restaurant in Chatsworth, California

by Amy Works February 25, 2019

CHATSWORTH, CALIF. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a single-tenant restaurant asset, located at 21920 Lassen St. in Chatsworth. A private investor acquired the property for $3 million, or $1,540 per square foot. Del Taco occupies the approximately 1,961-square-foot property, which features a 24-hour drive-thru, on a long-term absolute triple-net, corporate-guaranteed lease with more than 12 years remaining. Built in 1989, the property is situated on 0.4 acres. Matthew Mousavi and Patrick Luther of SRS, in cooperation with Brandon Trevellyan of Capital Real Estate Ventures, represented the seller, a privately held partnership, while Warren Berzack of Lee & Associates represented the buyer in the deal.

February 25, 2019

Acquisitions Illinois Industrial Midwest

Cawley Chicago Arranges Sale of 31,059 SF Industrial Building in Elk Grove Village, Illinois

by Kristin Harlow February 25, 2019

ELK GROVE VILLAGE, ILL. — Cawley Chicago has arranged the sale of a 31,059-square-foot industrial building in Elk Grove Village for an undisclosed price. The property is located at 1001 Fargo Ave. Andrew Maletich of Cawley Chicago represented the buyer. Sam Durkin of JLL represented the seller.

February 25, 2019

Loans Massachusetts Multifamily Northeast

Cornerstone Realty Capital Arranges $8M Refinancing for Multifamily Community in Massachusetts

by David Cohen February 22, 2019

STOUGHTON, MASS. — Cornerstone Realty Capital has arranged an $8 million loan to refinance a 48-unit multifamily community in Stoughton. Located in Norfolk County, the property is approximately 20 miles south of Boston. The two-building community consists of 36 two-bedroom and 12 one-bedroom units. The buildings will undergo renovations,which will include the conversion of eight one-bedroom units into two-bedroom units. Additional renovations will include updates to the common areas and flooring, as well as adding a patio and grilling area, playground, dog run and bike racks. Cornerstone Realty Capital secured a fixed-rate financing structure with 30 months of interest-only payments for the borrower, True North Capital Partners. The lender was undisclosed.

February 22, 2019

Acquisitions Industrial Washington Western

Park Row LLC Acquires 239,607 SF Industrial Park Near Seattle for $47.2M

by Amy Works February 22, 2019

WOODINVILLE, WASH. — Locally based Park Row LLC has purchased The Park at Woodinville, a Class A industrial park located at 14103 NE 200th St. in Woodinville, a suburb approximately 20 miles northwest of Seattle. Newport Beach, Calif.-based KBS sold the property for $47.2 million, or $197 per square foot, in an off-market transaction. Todd Gauthier and Jason Bloom of Kidder Mathews represented the buyer in the deal. The five-building, 239,607-square-foot industrial park features a café/deli, loading docks and outdoor patios.

February 22, 2019

Acquisitions California Industrial Western

Alere Property Group Buys Industrial Business Park in Orange County for $21.9M

by Amy Works February 22, 2019

ORANGE, CALIF. — Alere Property Group has acquired North Orange Industrial Park, an industrial business park located in Orange from an undisclosed seller for $21.9 million in an off-market transaction. Mike Cargile and Loren Cargile of Voit Real Estate Services represented the buyer in the deal. The three-building asset features 138,970 square feet of industrial space in a variety of ground-level unit sizes and multi-tenant dock-high spaces. At the time of sale, the property was 100 percent occupied by a tenant mix of light industrial and distribution users.

February 22, 2019

Acquisitions Colorado Retail Western

NAI Shames Makovsky Brokers $3M Sale of Retail Asset in Denver

by Amy Works February 22, 2019

DENVER — NAI Shames Makovsky has arranged the sale of a retail property, located at 2903 Larimer St. in Denver. Michio Iwahashi sold the asset to 2093 Larimer LLC for $3 million. The property features a 12,528-square-foot land parcel with two existing structures. Evan Makovsky and Todd Snyder of NAI Shames Makovsky represented the seller in the deal.

February 22, 2019

Acquisitions Illinois Industrial Midwest

RMC Holdings Hampshire Sells Two Industrial Land Sites in Illinois

by Kristin Harlow February 22, 2019

HAMPSHIRE, ILL. — RMC Holdings Hampshire has sold two land sites within Metrix Industrial Park at the northwest corner of Interstate 90 and State Route 20 in Hampshire. In the first transaction, The McCoy Group purchased 13 acres for the development of a Truck Country facility. Construction of the 40,000-square-foot facility is expected to begin this spring. In the second transaction, Stream’s Edge Properties LLC purchased 18 acres. Dave Schmidt and Linda Kost of Realty Metrix Commercial assisted Stream’s Edge with its acquisition, along with the rezoning of the land parcel and coordinating site work to expedite construction, which is scheduled to begin this spring. Metrix Industrial Park is a 45-acre project focused on trucking. It is adjacent to the new 33-acre Love’s Truck and Travel Stop, which is currently under construction and expected to open in April.

February 22, 2019

Acquisitions Hospitality Midwest Wisconsin

Marcus & Millichap Brokers $2.3M Sale of Super 8 Hotel in Eau Claire, Wisconsin

by Kristin Harlow February 22, 2019

EAU CLAIRE, WIS. — Marcus & Millichap has brokered the sale of a 56-room Super 8 hotel in Eau Claire for $2.3 million. The two-story property is located at 1151 W. MacArthur Ave. Ebrahim Valliani, John Yurich, Michael Klar, Allan Miller and Chris Gomes marketed the property on behalf of the seller. Todd Lindblom assisted in closing this transaction as the broker of record in Wisconsin.

February 22, 2019

Acquisitions Multifamily New York Northeast

Marcus & Millichap Brokers $3.4M Sale of Two-Building Apartment Portfolio in Queens

by David Cohen February 21, 2019

NEW YORK CITY — Marcus & Millichap has brokered the $3.4 million sale of a two-building apartment portfolio in the Flushing neighborhood of Queens. The two six-unit properties are located at 1868 Putnam Ave. and 1862 Cornelia St. Shaun Riney, Thomas Shihadeh and Andrew Reiter of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.

February 21, 2019

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