ALGONQUIN, ILL. — Premier Commercial Realty has brokered the sale of a 5,085-square-foot building formerly occupied by Fradillio’s restaurant in Algonquin. The property, located at 2321 Algonquin Road, includes a drive-thru. Bruce Kaplan and Kevin Kaplan of Premier represented the seller, North Shore Bank. Eddie Hernandez of Casa Grande Realty represented the buyer, who plans to open a Burrito Parrilla Mexicana restaurant. There are currently six other Burrito Parrilla Mexicana locations in Illinois.
DAYTON, OHIO — CBRE and Newmark Knight Frank have brokered the sale of the 130 Building in downtown Dayton for an undisclosed price. The 23-story, 336,000-square-foot office building is located at 130 W. Second St. The buyer, Brian Lash, plans to add a number of amenities to the property, including a fitness center, co-working spaces, a banquet hall and additional meeting space. Matt Arnovitz of CBRE and Jim Vondran and Keith Yearout of NKF represented the seller, Titan Capital Investment Fund.
ST. LOUIS — Baceline Investments LLC has acquired Grand Marketplace in St. Louis for $2.2 million. The 9,971-square-foot retail center, constructed in 2007, is located just north of Highway 40 and North Grand Boulevard. The property is fully leased to tenants such as City Gear, Instant Tax Service, Boost Mobile and Check n’ Go. Save-A-Lot and Walgreens shadow anchor the property.
PHOENIX — Orion Investment Real Estate has arranged the sale of a motel property located at 3547 E. Van Buren St. in Phoenix. Risi Cos. acquired the short-stay motel, formerly known as Best Inn Suites, from Rudra Investment for $3.3 million, or $50,000 per unit. The buyer plans to convert the 66-room motel into an apartment property. At the time of sale, the motel was 97 percent occupied under daily, weekly and monthly terms. Zach Mishkin of Orion represented the buyer, while Joseph Dietz and Bob Farrell of Orion represented the seller in the deal.
SANTA ANA, CALIF. — Marcus & Millichap has brokered the sale of The Legion Building, a retail property located at 313 N. Birch St. in Santa Ana. An undisclosed buyer acquired the property for $2.4 million, or $155.63 per square foot. At the time of sale, the 15,742-square-foot property was vacant. Joseph Lising of Marcus & Millichap brokered the transaction. The name of the seller was not released.
LUBBOCK, TEXAS — Transwestern has arranged the sale of a three-property, 1,154-unit multifamily portfolio in the West Texas city of Lubbock. The properties include The Park, a 528-unit asset that includes townhomes and single-level apartments with yards; Ashton Pointe, a 366-unit community that offers a fitness center and racquetball court; and Dominion Apartments, a 260-unit property that features a pool and fitness center. James Roberts, Philip Wiegand and Taylor Snoddy of Transwestern represented the seller, Lubbock-based McDougal Cos. A Colorado-based investment firm purchased the portfolio for an undisclosed price.
ROSWELL, GA. — Marcus & Millichap has arranged the $19.4 million sale of Space Shop Self Storage, a 1,174-unit self-storage property in Roswell, located roughly 23 miles north of Atlanta. Stacey Gorman of Marcus & Millichap arranged the transaction on behalf of the seller, Stein Investment Group, and procured the buyer, a regional self-storage operator. Space Shop Self Storage was constructed in 1995 and was recently renovated and expanded. The property is situated on six acres along Alpharetta Highway.
ROSEVILLE, CALIF. — Starboard Commercial Real Estate has arranged the sale of a retail property located at 318 N. Sunrise Ave. within Centre Pointe Regional Shopping Center in Roseville, a suburb of Sacramento. A San Francisco-based investor acquired the property for $4.5 million. Pet Club currently occupies the 24,750-square-foot building. Richard Gumbiner of Starboard Commercial Real Estate brokered the transaction.
PHOENIX — Brennan Investment Group has acquired a two-building industrial facility, located at 4245 N. 40th Ave. in Phoenix, for an undisclosed price. The 79,968-square-foot property was simultaneously leased back to the seller, F&B Manufacturing, a provider of parts for the aerospace, automotive, power generation and semi-conductor industries. F&B Manufacturing uses the facility at its headquarters and for manufacturing and distribution.
TAMPA, FLA. — Plaza Advisors has arranged the sale of Southtown Center, a 43,669-square-foot shopping center located at the intersection of South Dale Mabry Highway and West Neptune Street in Tampa. Hillsborough County records show the asset sold for $19.8 million, or $452 per square foot. Jim Michalak, Mike Cvetetic and Keith Nurre of Plaza Advisors arranged the transaction on behalf of the seller, a Los Angeles-based investor. An Australian entity acquired Southtown Center, which was 97 percent leased at the time of sale to tenants such as Moe’s Southwest Grill, Tropical Smoothie Café, Cold Stone Creamery, Hair Cuttery, Weight Watchers, Massage Envy, Pure Barre, European Wax Center, Burger Monger, DaVita Dialysis and Century 21.