GREER, S.C. — NAI Earle Furman has represented The Taft Family Office and Appian-Gilliam LLC in purchasing a 23.5-acre industrial park in Greer. The site has a newly constructed speculative building that spans about 100,000 square feet. The industrial park was 60 percent leased at the time of the sale. NAI Earle Furman will also handle the management and marketing of the rebranding of the park, now called The Inland Distribution Center. The center is located a few miles off Interstate 85 and neighbors the South Carolina Ports Authority’s Inland Port Greer. The seller and sales price were undisclosed.
COLUMBIA, S.C. — Adventurous Journeys Capital Partners (AJ) has purchased the Inn at USC, a 116-room hotel located near the campus of University of South Carolina in Columbia. The hotel will undergo renovations throughout its common areas in the spring. The hotel and common areas are expected to remain open throughout the renovation process. The hotel is set to become part of AJ’s Graduate Hotels collection next fall. This is the first planned hotel for Graduate Hotels in the Carolinas. Arpit Shah of CBRE represented the sellers, University Foundations and IMIC Hotels. The sales price was not disclosed.
SACRAMENTO, CALIF. — NB Private Capital has purchased The Element, a student housing community located at 6730 Fourth Ave. in Sacramento, from an undisclosed seller. The property was offered as a Delaware Statutory Trust and eligible for 1031 investors, and was 100 percent occupied upon syndication with 12-month leases. The initial total offering price was $91.8 million, of which approximately $38.5 million came from investor equity. Serving students at Sacramento State University, The Element features 216 units, totaling 792 beds, in a mix of one-, two-, three- and four-bedroom layouts. Built in 2003 and renovated in 2016, the property features stainless-steel appliances, common area furniture and window treatments. Community amenities include a resort-style pool, high-tech fitness center, study lounge, tanning bed, covered basketball half-court, lighted sand volleyball court, game room and private campus shuttle. NB Private Capital is a new investment firm founded by Brian Nelson, previously of Nelson Brothers Professional Real Estate.
EL MONTE, CALIF. — CBRE has arranged the sale of Santa Fe Trail Plaza, a grocery-anchored community center in El Monte, east of downtown Los Angeles. A joint venture between Los Angeles-based Festival Capital and Hartford, Conn.-based Hutensky Capital Partners sold the 112,335-square-foot shopping center to Newport Beach, Calif.-based TA Realty for an undisclosed price. Completed in 2006, Santa Fe Trail Plaza is situated on 9.2 acres at 10601-10761 Valley Blvd. and 10714 King Court. Superior Grocers, Ross Dress for Less, Petco, Five Below, Starbucks Coffee, Subway, Jack in the Box, AT&T, Chipotle, Jersey Mike’s Subs, Flame Broiler, Wing Stop and The UPS Store are tenants at the property. Philip Voorhees, Kirk Brummer and Sean Heitzler of CBRE’s National Real Partners-West represented the seller and buyer in deal.
PHOENIX — Denver-based Bow River Capital Partners has purchased Grand Central Tower, an office building located at 3550 N. Central Ave. in Phoenix. Solana Beach, Calif.-based Fenway Capital Advisors sold the property for $14.6 million. Built in 1958 and situated in Phoenix’s Central Corridor, the 20-story building features 284,709 square feet of office space, as well as a 4.4-acre surface parking lot that could be redeveloped with multifamily residential space. At the time of sale, the multi-tenant property was 34 percent occupied. Steve Lindley, Eric Wichterman, Bob Buckley, Tracy Cartledge and Mike Coover of Cushman & Wakefield’s Phoenix office represented the seller in the deal.
KILDEER, ILL. — A joint venture between DRA Advisors and Pine Tree LLC has acquired The Shops at Kildeer, a 171,339-square-foot retail center located in the Chicago suburb of Kildeer, for $32.5 million. Bed Bath & Beyond, Ulta Beauty, Michael’s, Old Navy, Uncle Dan’s and Cost Plus World Market anchor the center. George Good and Christian Williams of CBRE brokered the transaction. William Barry of Draper and Kramer arranged acquisition financing through Wells Fargo on behalf of the joint venture. The seller was undisclosed.
ZION, ILL. — JSM Venture Inc. has acquired a former Kmart store located at 3355 Sheridan Road in Zion for $2.3 million. JSM plans to convert the 90,426-square-foot building into a self-storage facility with 69,750 rentable square feet. Of the 619 total units, 96 percent are expected to be climate-controlled. Patrick Turner and Brendan Green of Colliers International represented JSM. Paine/Wetzel represented the seller, Amin & Shah Solutions LLC.
GARDNER, MASS. — Marcus & Millichap has brokered the $3.6 million sale of Washington Park Apartments, a 48-unit apartment property in Gardner. The property is located at 61 W. Broadway. Matthew Pierce of Marcus & Millichap’s Boston office represented the seller, a limited liability company, in the transaction. The buyer was a private investor.
SAN LEANDRO, CALIF. — Newmark Knight Frank has arranged the sale of Westgate Center, a grocery-anchored mixed-use retail center located at 1933 Davis St. in San Leandro. SKB and WHI Real Estate Partners sold the property to a New York-based global private equity firm for an undisclosed price. The 586,407-square-foot property features a 361,132-square-foot retail component and 225,275 square feet of flex office and prototyping space. Walmart, Home Depot, Ross Dress for Less, Burlington and Dollar Tree are tenants at the retail portion. The second-floor flex space, branded as Gate510, offers an environment for entrepreneurs and creators to collaborate, invent, work and manufacture. Nicholas Bicardo, Brandon Rogoff and Grant Lammersen of NKF represented the seller in the deal.
CONIFER, COLO. — Dormie Capital Holdings has acquired Conifer Marketplace, a shopping center located at 10853 Highway 285 in Conifer, approximately 30 miles southwest of Denver. An undisclosed seller sold the property for $10.6 million. Built in 1984, the 86,659-square-foot retail property was 92 percent occupied at the time of sale. Tenants include Staples, O’Reilly Auto Parts and Anytime Fitness. Legend Investment Group, a division of Legend Partners, represented the seller. Matt Call and Heather Taylor of Navpoint represented the buyer in the deal.