PARAMUS, N.J. — Deka Immobilien GmBH has acquired Paramus Junction, a fully leased, grocery-anchored shopping center in Paramus. The sales price was not disclosed. Located at 60 N. Route 17, the 75,000-square-foot property is occupied by a tenant roster that includes Asian grocer H Mart, DSW, PetSmart and BJ’s Wholesale Club. Deka Immobilien was represented by Madison Marquette in the transaction. The seller, a joint venture between Invesco Real Estate and Advance Realty was represented by Cushman & Wakefield’s New Jersey capital markets team.
SANTA FE AND HOBBS, N.M. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, located in Santa Fe and Hobbs and totaling 200 beds. The seller was a Texas-based regional owner-operator looking to divest non-core assets. O&M Investments acquired the Santa Fe facility, while a Southern California-based private REIT acquired the Hobbs property. The prices were not disclosed. Christopher Hyldahl and Gideon Orion of Blueprint were the lead advisors on the transaction.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of an apartment building and duplex located at 2818-2836 Wyandot St. in Denver. An undisclosed seller sold the asset for $3.7 million. The 23-unit apartment building was built in 1962, while the duplex was built in 1886. Josh Newell and Barton Thompson of Pinnacle Real Estate Advisors represented the seller in the deal. The name of the buyer was not released.
PHOENIX — Orion Investment Real Estate has negotiated the sale of Bell Canyon Plaza, a multi-tenant retail center located at the corner of 24th and Roosevelt streets in Phoenix. Ramsey Real Estate Group acquired the property from Ten Fourteen 24th Associates for $3.5 million, or $194 per square foot. Family Dollar anchors Bell Canyon Plaza on a newly extended lease. Additional tenants include Taco Bell and MetroPCS. Ari Spiro, Derek Buescher and Jared Williams of Orion represented the buyer and seller in the deal.
PHOENIX — Los Angeles-based Cohen Asset Management has completed the disposition of Phoenix Airport Industrial Center, an industrial building in Phoenix. Denver-based EverWest Real Estate Investors acquired the property for $8.6 million. Will Strong of Cushman & Wakefield Capital Markets represented the seller in the deal. Situated on 3.9 acres at 824 E. University Drive, the 77,642-square-foot Phoenix Airport Industrial Center features ample loading capabilities, a fenced truck yard and an office-to-warehouse ratio of 6.6 percent. DIRTT Environmental Solutions occupies the entire building on a lease that runs through May 2027.
NEW YORK CITY — Cushman & Wakefield has brokered the $5.4 million sale of a 5,467-square-foot mixed-use building on the Lower East Side of Manhattan. Located at 48 Clinton St., the four-story property was formerly known as the Loho Studios and has hosted a number of recording artists through the years, including Willie Nelson, John Mayer, Joey Ramone, Phish, Patti Smith, Lindsay Lohan, OAR, Art Garfunkel and Joan Jett. Michael F. DeCheser, Patrick Dugan, Mei Ling Wong, Andrew T. Berry and Bryan Hurley of Cushman & Wakefield represented the seller, the Blue Man Group, in the transaction. The buyer was Arani Bose.
NORTH LAS VEGAS, NEV — Cushman & Wakefield has directed the sale of Craig Promenade, a neighborhood shopping center located at 655-755 W. Craig Road in North Las Vegas. Tulsa, Okla.-based Liberty Crossing Apartments LLC, an entity formed by Precision Equity, purchased the asset from RREF-II KI Promenade, an entity formed by Rialto Capital Advisors. The acquisition price was $12.6 million. Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office, along with Lauren Tabeek of the company’s Las Vegas office, represented the seller in the deal. Big Lots anchors the 81,057-square-foot retail center, which sits on 7.6 acres. At the time of acquisition, the property was 84.8 percent occupied.
SANTA ANA, CALIF. — Sunflower Plaza Co. has completed the sale of Sunflower Plaza, a shopping center located at 3929-3941 S. Bristol St. in Santa Ana. Sunflower Metro LLC, a company owned by former NBA player Josh Childress, acquired the asset for $9.5 million. Built in 1979 and renovated in 2014, the 27,000-square-foot property is subject to a 30-year ground lease. Situated on 2.66 acres, the two-building property is anchored by Bank of the West, The Vitamin Shoppe, Panera Bread, Jersey Mike’s Subs and zpizza. Fouy Ly of Kidder Mathews represented the seller in the deal. Sunflower Plaza Co. is the original developer and this is first time the asset has sold in the last 40 years. Eyzenberg & Co., as financial advisor to Childress Ventures, secured a $7.4 million CMBS loan with a 20-year amortization through Morgan Stanley to fund the acquisition. Jeff Conti and Mila Babenko of Eyzenberg & Co. arranged the financing.
WHITTIER, CALIF. — Andy Investment Co. has completed the disposition of Good Nite Inn, a hotel located at 10317 Whittier Blvd. in Whittier. Y&C Pacific acquired the property for $8 million. Situated on a 72,869-square-foot land parcel, the hotel features 102 rooms, a swimming pool and monument signage. Nearby amenities include Starbucks Coffee, Carl’s Jr., Dollar Tree and Wingstop Restaurant. Warren Berzack of Lee & Associates represented the buyer and seller in the transaction.
LAS VEGAS — Colliers International has brokered the sale of a retail property, located at 2885 E. Charleston Blvd. in Las Vegas. E-Z Living LLC acquired the asset from El Mercado LLC for $2.4 million. The property features 12,159 square feet of retail space. Chris Clifford, Steve Neiger and Brett Rather of Colliers represented the seller in the deal.