PLYMOUTH, MINN. — Marcus & Millichap has brokered the sale of a 124,181-square-foot industrial property net leased to Allied Building Products in Plymouth for $8.2 million. The property, located at 9800 13th Ave., includes an on-site fueling station and nearly 10 acres of outdoor storage space that is paved and fenced. Allied Building Products is a distributor of roofing, siding, waterproofing, interior products, windows, skylights, doors and tools for the residential, commercial and industrial building industries. Sean O’Brien and John Godwin of Marcus & Millichap marketed the property on behalf of the seller, a private investor. O’Brien secured the buyer, a real estate investment trust.
WESTMINSTER, COLO. — Marcus & Millichap has arranged the sale of San Marino Retirement Community, located at 5000 W. 75th Ave. in Westminster, a suburb of Denver. A Chicago-based private equity firm acquired the property from a private investor and owner-operator for $32.4 million. Tony Cassie and Sam Thompson of Marcus & Millichap’s Portland, Ore., office facilitated the transaction. Bob Kaplan of Marcus & Millichap’s Denver office is the firm’s broker of record in Colorado. Built in stages between 1987 and 1999, the five-building, 185,871-square-foot property is situated on 9.3 acres and offers independent living, assisted living and memory care residential options for seniors.
FOLSOM AND ROSEVILLE, CALIF. — NAI Horizon has arranged the sale of a two-property self-storage portfolio located in metro Sacramento. Rohnert Park-based L.P.G. Associates sold the properties to Salt Lake City-based Extra Space Properties Two LLC for $31.5 million. The portfolio includes Folsom Parkshore Self-Storage at 185 Parkshore Drive in Folsom, and All Size Self-Storage at 1011 Foothills Blvd. in Roseville. The two assets total 165,920 net rentable square feet and feature 1,109 units. Denise Nunez and David Loui of NAI Horizon Self-Storage Team represented the seller in the deal.
OREM, UTAH — Central Utah Water has purchased the former Xactware campus within Intermountain West in Orem for an undisclosed price. The two-building asset totals more than 92,042 square feet of Class A office space. Central Utah Water’s primary responsibility is to deliver clean, useable water to customers by managing the network of water facilities. The company manages three water treatment facilities in Utah Valley, Ashley Valley and Duchesne County, and administers the sale of water to its customers. Brandon Fugal and Cody Black of Colliers International | Utah brokered the transaction.
Charles Dunn Co. Negotiates $5.5M Acquisition of Del Taco-Occupied Property in San Pedro, California
SAN PEDRO, CALIF. — Charles Dunn Co. has arranged the acquisition of a newly developed, single-tenant restaurant property located at 359 S. Gaffey St. in San Pedro. A joint venture between Rich Development Enterprises and Paragon Commercial Group sold the property to a Los Angeles-based private investor for $5.5 million in a 1031 exchange. Del Taco occupies 2,420-square-foot property under a newly signed, 20-year, corporate-guaranteed, triple-net lease. Kyle Gulock of Charles Dunn CO. represented the buyer, while Highland Partners Corp. represented the seller in the deal.
WAUKESHA, WIS. — Marcus & Millichap has negotiated the sale of Goerkes Corners in Waukesha for $9.5 million. The 555-unit self-storage facility is located at 21300 Doral Road. Constructed in 2015, the property features both climate-controlled and non-climate-controlled units. Sean Delaney and Michael Mele of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a limited liability company affiliated with Baron Properties in Denver.
ELKINS AND SUMMERSVILLE, W.VA. — Regency Properties has purchased three shopping centers in West Virginia for an undisclosed price. The three properties will add a combined total of 319,194 square feet to Regency’s portfolio. The portfolio includes the 145,127-square-foot Merchants Walk, a center in Summersville leased to Dollar Tree, AT&T, Hibbett Sports, Peebles and Anytime Fitness. The other assets include Valley Pointe and The Plantation, both of which are located in Elkins. The 118,379-square-foot Valley Pointe center is leased to Peebles, Mattress Warehouse, GameStop, El Herradura and GNC. The 55,688-square-foot Plantation is leased to Goodwill, Dollar Tree, Anytime Fitness and Cricket Wireless. Based in Evansville, Ind., Regency Properties is a shopping center owner and investor with nearly 70 centers across 19 states. Regency now owns and manages four properties in West Virginia, the fourth being Country Roads Plaza in Hinton.
HOUSTON — Dornin Investment Group (DIG), an asset management firm with offices in California and Nevada, has sold 1250 Woodbranch and 11931 Wickchester, two adjacent office buildings totaling 164,933 square feet in Houston’s Energy Corridor. DIG acquired the Class B properties in 2013 and sold them to two separate, undisclosed investment groups. The new ownership of the Woodbranch building plans to upgrade the property’s common areas. DIG will continue to lease and manage that property as well.
MALVERN, PA. — HFF has negotiated the sale of a 299,809-square-foot office building in Malvern. The sales price was undisclosed. Located at 1400 Atwater Drive, the five-story property is approximately 30 miles southeast of Philadelphia. Built in 2013, the building is fully leased to Endo Pharmaceuticals as its North American headquarters. HFF represented the seller, Gramercy Property Trust, in the transaction. The buyer was Equus Capital Partners.
BROOMFIELD, COLO. — Newmark Knight Frank has brokered the sale of an office building located at 370 Interlocken Blvd. in Broomfield. RREF III-P Interlocken LLC sold the property to IPXI Interlocken Investors LLC for $29 million. The property features 150,656 square feet of office space. John Jugl and Paul Donahue of Newmark Knight Frank represented the seller, while CBRE represented the buyer in the deal.