CONWAY, ARK. — Binswanger has brokered the sale of a 288,137-square-foot industrial building located at 1800 Sturgis Road in Conway. Holmes Davis of Binswanger arranged the transaction on behalf of the seller, Nucor Corp. Eliken Property Management acquired the asset for an undisclosed price. The single-story facility was constructed in 1995 and features reinforced concrete floors, insulated metal panel walls, an insulated metal roof, eight dock-high doors, 21,149 square feet of office space, lighted parking for approximately 200 cars and a 300-foot interior rail spur with service provided by Union Pacific Railroad. The building is located roughly 10 miles form Conway Regional Airport and 30 miles from Little Rock Adams International Airport.
MISSOURI — American Healthcare Investors and Griffin Capital Co. LLC, the co-sponsors of Griffin-American Healthcare REIT IV Inc., have entered into an agreement to acquire a portfolio of eight skilled nursing facilities throughout Missouri for $88.2 million. The undisclosed properties total 1,112 beds and approximately 384,000 square feet. The portfolio is fully leased under a 15-year absolute net lease. As of June 13, the REIT has acquired a 2.7 million-square-foot portfolio of 45 medical office buildings, senior housing facilities and skilled nursing facilities in 16 states.
TEMPE, ARIZ. — Cushman & Wakefield has arranged the sale of Tempe City Center, an office building located at 1400-1470 E. Southern Ave. in Tempe. Tempe CC Hui LLC purchased the 162,640-square-foot property from Tempe City Center Limited Partnership for an undisclosed price. At the time of acquisition, the property was more than 90 percent leased to a variety of tenants, including National Bank of Arizona, Fresensius Medical Care and regional law firm Carpenter, Hazelwood, Delgado & Bolen. Chris Toci and Chad Littell of Cushman & Wakefield represented the seller in the deal. The members of the acquisition group, who are principally from Hong Kong and Honolulu, were introduced to the asset by Brandon Holdings Inc., the investment’s sponsor, and IX Advisors, an investment advisory based in Seattle.
SAN FRANCISCO — Frontier Group has purchased 570 Market Street, a retail and office building located in downtown San Francisco. An undisclosed seller sold the property for $14.5 million. Built in 1922, the two-story building is occupied by a variety of retail and office tenants, including Daiso Japan, Creative Marketing Concepts, ABC Cleaners, Lucky Nails, Mercury Maintenance and Jack’s Shoe Repair. Frank Chiu of Starboard Commercial Real Estate represented the buyer in the deal.
LOS ANGELES — Hanley Investment Group Real Estate Advisors has arranged the $3.5 million sale of a single-tenant building triple-net-leased to Starbucks Coffee in Los Angeles. The newly constructed building is located less than one mile from the University of Southern California (USC) campus. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group arranged the transaction on behalf of both the seller, an undisclosed private developer, and the buyer, a Los Angeles-based private investor. Starbucks has 19 years remaining on its lease.
DALLAS — San Francisco-based investment firm Berkeley Partners has sold seven industrial properties in the Dallas-Fort Worth (DFW) area totaling approximately 1 million square feet. The warehouse and light industrial assets encompass 28 buildings and are part of an 11-property portfolio that was 87 percent leased at the time of sale. Adam Herrin, Stephen Bailey, Chris Norvell and Ralph Smalley of HFF represented Berkeley Partners in the sale. A partnership between California-based private equity firm Circle Industrial and international investment firm FREO Group purchased the properties for an undisclosed price.
ODESSA, FLA. — Lantower Residential has acquired Lantower Asturia, a 322-unit apartment community located at 15175 Integra Junction in the Tampa Bay community of Odessa, for $57.7 million. Constructed in 2017, the property was originally known as Integra Junction and was rebranded upon acquisition. Lantower Asturia is located within Asturia, Hines’ 300-acre, master-planned mixed-use community. The apartment community offers a mix of one- to three-bedroom units and features granite countertops, stainless steel appliances, crown molding, USB outlets, wood-style floors, tile backsplash, and screened balconies or patios. Community amenities include a saltwater pool, outdoor lounge area with fire pits and grills, package lockers, fitness center with a CrossFit box and spin bikes and a virtual PGA golf simulator. Patrick Dufour of ARA Newmark arranged the transaction on behalf of the seller, Panther Residential. The acquisition brings Lantower Residential’s portfolio to 19 multifamily properties totaling 6,260 units.
KENNESAW, GA. — Avison Young has brokered the $9 million sale of 3075 Chastain Meadows Parkway, a 130,250-square-foot warehouse in the northwest Atlanta suburb of Kennesaw. Brent Weitnauer, Chip Watson and Ben Parker of Avison Young arranged the transaction on behalf of the seller, Suzuki. Exeter 3075 Chastain Meadows LLC, an affiliate of Exeter Property Group, acquired the asset. The building has the capability to expand by an additional 2.9 acres.
PHOENIX — Akara Partners has completed the purchase of a development site at 355 N. Central Ave. in downtown Phoenix. The buyer plans to develop Kenect Phoenix, a mixed-use residential and retail property, on the site. Designed by Tempe, Ariz.-based RSP Architects and the Chicago office of Perkins + Will, the 23-story building will feature 320 residential apartments units and approximately 8,000 square feet of ground-floor retail space. The residential component will feature a mix of floor plans from studio to three-bedroom units. On-site community amenities will include integrated furnishings with food and beverage options throughout the building, social and co-working lounges, fitness center, and a rooftop deck with a swimming pool, grills and fire pits. The first apartments are slated for completion in fall 2019. Acquisition details were not released.
AURORA, COLO. — Pinnacle Real Estate Advisors has arranged the sale of an office property located at 651 Chambers Road in Aurora. A church acquired the property from Life Skills International for $1.3 million. Built in 1978, the property features 16,500 square feet of office space. Corey Sandberg and Jeff Johnson of Pinnacle represented the seller in the deal.