WARREN, R.I. — CBRE has negotiated the sale of a 64,294-square-foot industrial facility in Warren. Located within the Warren Industrial Park at 15 New Industrial Road, the facility is set on more than 11 acres of land. The facility was most recently occupied by FedEx. Daniel Cregan and Thomas Barry of CBRE represented the undisclosed seller in the transaction. The buyer was Mussuchuck Properties LLC.
ESCONDIDO, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Villa Capri, a multifamily property in Escondido. VCA Co. sold the property to 902 Washington for $19.2 million. Completed in 1971, Villa Capri features 11 one- and two-story buildings offering a total of 98 apartment units. Christopher Zorbas and Austin Huffman of The Zorbas Group of Marcus & Millichap’s San Diego office represented the seller and procured the buyer in the transaction.
SEATTLE — Starboard Realty Advisors has purchased Madison View Apartments, a multifamily property located near the Capitol Hill neighborhood of Seattle, for an undisclosed price. Originally built in 1912 and renovated in 2018, the building features 56 units, including eight micro-units, with modern finishes, a community courtyard with fire pit and balconies with views of Lake Washington in select units. The renovations includes stainless steel appliances, quartz countertops, new cabinets, modern fixture, vinyl plank flooring, LED lighting and a bar top in most kitchens. Jerrid Anderson and Dylan Simon of Colliers International represented the undisclosed seller in the deal.
EAST DUNDEE AND CAROL STREAM, ILL. — Cawley Chicago has arranged two industrial property sales in Illinois. In the first transaction, High Street Realty purchased a two-building portfolio totaling nearly 80,000 square feet in East Dundee. In the second transaction, Venture One Real Estate acquired a 16,072-square-foot building. The facilities were fully leased at the time of sale. Jack Brennan and Daniel Cawley of Cawley represented the sellers, both of which were private investment entities.
REDMOND, ORE. — Compass Commercial Real Estate Services has arranged the sale of an industrial property located at 875 N.E. Kingwood Ave. in Redmond. Redmond Premium Properties sold the asset to an undisclosed buyer for $3.8 million. Situated on 4.5 acres, the property features 25,115 square feet of industrial space. Russell Huntamer and Dan Kemp of Compass Commercial Real Estate Services represented the seller in the deal.
PHOENIX — Industrial Logistics Properties has agreed to acquire 18 industrial properties for a total of $625.3 million. Wholly owned subsidiaries of Cole Corporate Income Operating Partnership LP, of which Cole Office & Industrial REIT (CCIT II) is the sole general partner, have agreed to sell the assets for $568.3 million in cash and the assumption of a $57 million loan by the buyer. The 18 properties are 100 percent leased and encompass approximately 8.7 million gross rentable square feet across 12 states. Notable tenants include UPS, Procter & Gamble and Subaru. The transaction is anticipated to close within 60 days, subject to due diligence and the satisfaction of closing conditions. CCIT II plans to use sale proceeds for the repayment of debt and the acquisition of long-dated net-lease properties in furtherance of the company’s investment objectives. Eastdil Secured is represented CCIT II in the transaction.
LAKE ELSINORE AND VISTA, CALIF. — Faris Lee Investments has brokered the $5.3 million sale of two quick-serve restaurants in California via two separate transactions. In the first transaction, Loan Oak Ranch acquired a newly constructed restaurant property, located in front of the recently completed Central Plaza in Lake Elsinore. The seller was HFC/PRP Elsinore LLC. The property was pre-sold, as it was still under construction at the time of sale, for $3.8 million. Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller, while Schuil & Associates represented the buyer. In the second deal, Northern California-based Maddvio California purchased a newly constructed quick-serve restaurant property in downtown Vista from 227 Broadway LLC for $1.5 million. DogHaus Restaurant & Brewery, a “craft-casual” gourmet hot dog chain, occupies the 3,593-square-foot property. Conover, Scott DeYoung and Hunter Steffien of Faris Lee Investments represented the seller, while Faris Lee represented the buyer in the transaction.
SALINAS, CALIF. — Lee & Associates – North San Diego County has arranged the sale of a retail property, located on 0.3 acres in Salinas. BEWS Main Street LLC sold the property to Bei-Scott Co. for $2.2 million. 7-Eleven occupies the 2,251-square-foot retail building, which was built in 1987. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Shoemaker Commercial Real Estate represented the buyer in the deal.
MISSION, KAN. — Colliers International has brokered the sale of Silverwood Apartments in Mission, about eight miles south of Kansas City. The sales price was not disclosed. The multifamily community includes 280 units. Will Mathews, Gabe Tovar and Bob Galamba of Colliers represented the seller, Nuveen Real Estate. Canyon View Capital purchased the asset.
GOODYEAR, ARIZ. — Stream Data Centers has purchased an industrial facility on 157 acres in Goodyear. The company plans to establish a data center campus for hyperscale and enterprise customers in the greater Phoenix region. This acquisition marks Stream’s entrance into the Phoenix market. Stream will redevelop the existing 418,000-square-foot facility. At full build-out, the data center will contain approximately 50 megawatts of critical load. The facility is slated to be fully operational for customers in the first quarter of 2020. Additionally, at full build, the entire campus will be able to support approximately 2 million square feet. The company will dedicate land for an on-site sub-station to be constructed by Arizona Public Service with ultimate power capacity of 350 megawatts.
