INDIANAPOLIS — Colliers International has negotiated the sale of a two-building, 166,119-square-foot industrial portfolio in Indianapolis for $6.6 million. The properties, located within the Stout Field Industrial Park, are fully leased to Progressive Logistics and Micronutrients. Alex Cantu and Alex Davenport of Colliers brokered the transaction on behalf of the seller, Progressive Logistics. The O’Donnell Group Inc. purchased the portfolio. This is the first acquisition in the Indianapolis market for the California-based firm.
HARRISON, OHIO — Marcus & Millichap has brokered the $2.2 million sale of an 18,888-square-foot retail property net leased to Tractor Supply Co. in Harrison, about 20 miles northwest of Cincinnati. The property is located at 389 Comfort Drive near I-74. Tractor Supply Co. has operated at the building since 1999. Dan Yozwiak and Justin Fenn of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also represented the buyer, a limited liability company.
COLUMBIA, S.C. — Dominion Realty Partners (DRP), in partnership with Blue Vista Capital Management, has acquired Synergy Business Park, a 315,919-square-foot office park in Columbia, for $24.3 million. The new ownership plans to make significant investments in building renovations and capital improvement projects. The four-building property was 78 percent leased at the time of sale. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield arranged the transaction on behalf of the undisclosed seller.
JACKSONVILLE, FLA. — CBRE has brokered the $15.3 million sale of Palm Trace Apartments, a 160-unit multifamily community located at 6870 103rd St. in Jacksonville. Shelton Granade, Cliff Taylor, Joe Ayers, Luke Wickham and Justin Basquill of CBRE arranged the transaction on behalf of the seller, Chicago-based American Landmark Properties. Beverly Hills, Calif.-based Enzo Multifamily acquired the asset. Palm Trace Apartments includes a mix of one- and two-bedroom units and features a dog spa, car wash area, resident clubhouse, fitness center, pool, playground and a grilling/picnic area.
LAWRENCEVILLE, GA. — SRS Real Estate Partners has arranged the $5.3 million sale of a freestanding retail building leased to Crunch Fitness in Lawrenceville, located 34 miles northeast of Atlanta. The 22,000-square-foot property opened in March and is triple-net-leased to Crunch Fitness for 12.5 years. Matthew Mousavi and Patrick Luther of SRS arranged the transaction on behalf of the seller, a local developer, and procured the buyer, a public REIT.
PHOENIX — Los Angeles-based CBRE Global Investors Acquisitions has purchased Southwest Industrial Center, an industrial asset located at 7775 W. Buckeye Road in Phoenix. Houston-based Hines sold the property for $48.5 million. Constructed in 2015, the 684,420-square-foot facility features 32-foot clear heights and Class A cross-dock distribution space. Bo Mills, Mark Detmer, Ryan Sitov, Marc Hertzberg and Anthony Lydon of JLL Capital Markets represented the seller in the transaction.
CITY OF INDUSTRY, CALIF. — Realty Advisory Group has arranged the sale of an industrial property located at 15250 Don Julian Road in City of Industry. Cordia Capital Management acquired the 78,600-square-foot property for an undisclosed price. Situated on 3.8 acres, the facility features 25-foot to 29-foot ceiling heights, seven dock-height positions and future divisibility. At the time of sale, Golden West Packaging Group fully occupied the property. Mark Repstad and John Repstad of Realty Advisory Group represented the undisclosed seller and the buyer in the transaction.
SANTA CLARA, CALIF. — Levin Johnston of Marcus & Millichap has negotiated the purchase of Claddagh Apartments, a multifamily property located at 1408 Reeve St. in Santa Clara. A local apartment group acquired the asset from an undisclosed seller for $7.6 million. Constructed in 1958, the property features 20 apartments in a mix of one- and two-bedroom layouts, a community pool, on-site laundry and covered parking. The buyer plans to reposition and renovate the property. Levin Johnston represented the buyer in the deal.
WISCONSIN AND PENNSYLVANIA — Brennan Investment Group LLC has acquired a three-building industrial portfolio totaling 500,081 square feet in metro Green Bay, Wisconsin, and northeastern Pennsylvania. The purchase price was not disclosed. Progressive Converting Inc., a paper converting company, fully occupies the properties, which include the company’s corporate headquarters and primary manufacturing facilities. Brennan is based in Chicago.
LAS VEGAS — Northcap Commercial Multifamily has negotiated the sale of Desert Manor, a mixed-use asset located on an entire city block at 629 S. Main St. in Las Vegas. An undisclosed buyer acquired the property for $11.5 million. The sale consisted of 191 multifamily units, 6,364 square feet of retail space and 0.89 acres of land. Devin Lee of Northcap Multifamily represented the seller, 1060 Broadway LLC, in the deal.