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Avison Young Brokers $3.6M Sale of Industrial Warehouse in Los Angeles

by Amy Works January 11, 2019

LOS ANGELES — Avison Young has arranged the sale of an industrial warehouse facility, located at 7727 and 7729 Burnet Ave. in the Los Angeles neighborhood of Van Nuys. Los Angeles-based Burnet Investments sold the property to JP Burnet for $3.6 million. California Contractors Supplies has occupied the 16,230-square-foot warehouse since the late 1970s. The single-story building features an office space build-out, 32 parking stalls, a gated lot, 16-foot clear heights and two ground-level roll-up doors. Andrew Berk and Mark Evanoff of Avison Young represented the seller, while Berk also represented the buyer in the deal.

January 11, 2019

Acquisitions North Carolina Retail Southeast

Hendricks Commercial Sells Kohl’s-Anchored Shopping Center in North Carolina for $29M

by John Nelson January 11, 2019

SOUTHERN PINES, N.C. — Hendricks Commercial Properties has sold Southern Pines Village, a 179,276-square-foot shopping center in Southern Pines, for $29 million. Kohl’s, Hobby Lobby, Ulta Beauty, Dollar Tree and LongHorn Steakhouse anchor the shopping center. Julia Evinger, Nathan Whalen, Jeremie Johnson and Damien Yoder of Marcus & Millichap represented the seller in the transaction. Ashish Vakhariya and Seth Haron, also of Marcus & Millichap, procured the buyer, a Midwest-based private investor.

January 11, 2019

Acquisitions Development Industrial New York Northeast Property Type

Alexandrion Group Acquires Development Site in Carmel, New York for $3.2M

by David Cohen January 10, 2019

CARMEL, N.Y. — Alexandrion Group has acquired a 12-acre development site in Carmel. Located at 39 Seminary Hill Road, the property includes an existing 136,000-square-foot industrial facility. The Romanian spirits producer plans to build a distillery on the site. Arthur Mirante, Martin Cottingham and Matt Pynn of Avison Young represented Alexandrion Group in the transaction. The seller was Hinckley Holdings LLC and Covington Development LLC. Founded in 1994, Alexandrion Group produces Saber Elyzia liqueurs, Brâncoveanu brandy, Alexander Vodka and Gin, Kreskova vodka and Zolmyr liqueurs.

January 10, 2019

Acquisitions California Industrial Utah Western

Nearon Adds 730,000 SF of Industrial Space to its California, Utah Holdings

by Amy Works January 10, 2019

SACRAMENTO, CALIF., AND SALT LAKE CITY — Nearon has added 730,000 square feet of industrial space to its portfolio of industrial properties through two separate transactions. In the first deal, Nearon acquired three buildings, totaling 521,000 square feet, in Sacramento, for an undisclosed price. American Building Supply, a subsidiary of Jeld-Wen Holding, occupies and utilizes the properties for manufacturing, distribution and headquarters functions. The portfolio includes a 196,267-square-foot asset at 8360 Elder Creek Road, a 217,500-square-foot building at 6300 S. Watt Ave. and a 108,000-square-foot property at 8920 43rd Ave. Nick Rini of Nearon directed the Sacramento portfolio acquisition, while Kevin Partington and Matt Cologna of Cushman & Wakefield represented the undisclosed seller. In the second transaction, the company completed a sale-leaseback with Regis Corp. for an 210,000-square-doot distribution center located at 5300 W. Harold Gatty Drive within Salt Lake International Center in Salt Lake City. Upon close of escrow, Regis leased the property, which was developed as a build-to-suit for the tenant in 2001, for 15 years. Chang Soo Lee of Nearon orchestrated the off-market acquisition and sale-leaseback, while Wick Udy and Andrea Robb of JLL sourced the transaction on behalf of Nearon. With these acquisitions, Nearon’s industrial portfolio …

January 10, 2019

Acquisitions California Hospitality Western

Marcus & Millichap Directs $8.6M Sale of 82-Room Hotel in Patterson, California

by Amy Works January 10, 2019

PATTERSON, CALIF. — Marcus & Millichap has arranged the sale of Best Western Plus Villa Del Lago Inn, a hospitality property located at 2959 Speno Drive in Patterson. A limited liability company sold the property for $8.6 million. Built in 2000, the property features 82 interior corridor rooms and a restaurant, Francesca’s Restaurant and Lounge. Gordon Allred and Kelly Hansen of Marcus & Millichap represented the seller and the buyer, a limited liability company, in the deal.

January 10, 2019

Acquisitions Office Oregon Western

Compass Commercial Real Estate Negotiates $3.4M Sale of Office Building in Bend, Oregon

by Amy Works January 10, 2019

BEND, ORE. — Compass Commercial Real Estate has brokered the sale of The Scanlon Building, an office property located at 300 SW Columbia St. in Bend. Clise Realty sold the property to Paul and Tanya Alston for $3.4 millon. The two-story property features 12,395 square feet of office space. Jay Lyons and Grant Schultz of Compass Commercial Real Estate represented the seller, while Lyons, Schultz and Peter May, also of Compass Commercial, represented the buyer in the transaction.

January 10, 2019

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $2.5M Sale of Retail Property in Bourbonnais, Illinois

by Kristin Harlow January 10, 2019

BOURBONNAIS, ILL. — Marcus & Millichap has arranged the sale of a 6,200-square-foot retail property in Bourbonnais for $2.5 million. The building is fully leased to Five Guys, Firehouse Subs and Lacey’s Place. Located at 1609-1617 N. State Route 50, approximately 54 miles south of Chicago, the property is a newly constructed outparcel to the Water Town Plaza shopping center. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller. A California-based buyer purchased the asset.

January 10, 2019

Acquisitions Industrial Midwest Wisconsin

Dickman Co./CORFAC International Negotiates Sale of 23,100 SF Industrial Building in Milwaukee

by Kristin Harlow January 10, 2019

MILWAUKEE — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 23,100-square-foot industrial building in Milwaukee for an undisclosed price. The property is located at 5800 W. Douglas Ave. Overseas Hardwood Co. Inc. purchased the building from Jonco Properties. Samuel Dickman Jr. and Zach Hansen of Dickman brokered the transaction.

January 10, 2019

Acquisitions Georgia Retail Southeast

Palomar Group Arranges $15M Sale of Walmart Supercenter in Augusta

by John Nelson January 9, 2019

AUGUSTA, GA. — The Palomar Group has arranged the $15 million sale of a single-tenant Walmart Supercenter in Augusta. The 217,068-square-foot property is situated within Village Plaza shopping center, located about five miles from Augusta National Golf Club. Palomar Group represented the seller, a national real estate investment group, in the transaction. Jordan Trotter Commercial represented the 1031 exchange buyer.

January 9, 2019

Acquisitions Multifamily Oregon Seniors Housing Western

1031 Crowdfunding Acquires Assisted Living Community in Oregon for $19.1M

by Amy Works January 9, 2019

BANDON, ORE. — 1031 Crowdfunding LLC, through its affiliate 1031 CF Properties LLC, has acquired an 84-unit assisted living and memory care facility in Bandon, a coastal city in the southwest portion of Oregon. The purchase price was $19.1 million. The existing operator, Seasons Management, will continue to manage the property following the sale. Although the name of the property was not released, Pacific View Senior Living Community is Seasons’ only community in Bandon. The 72,430-square-foot community has featured an average occupancy of 92 percent under Seasons, which has operated the property since 2013. “Seniors housing has already outperformed other noted real estate sectors in the past and we believe it will continue to be a favorable opportunity due to impressive demographic fundamentals,” says Edward Fernandez, founder and chief executive officer of 1031 Crowdfunding. “The acquisition of this facility is a great way to start off the new year.”

January 9, 2019

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