ELK GROVE VILLAGE, ILL. — Colliers International has brokered the sale of a 225,006-square-foot industrial warehouse in Elk Grove Village. The sales price was not disclosed. The property is located at 1501 Nicholas Blvd. The buyer, GHP Group Inc., is a manufacturing company that specializes in electric fireplaces and accessories, personal heating products and gas grills. Chris Volkert and Brendan Green of Colliers represented GHP Group in the sale. Ken Franzese and John Cassidy of Lee & Associates represented the seller, Prologis.
MARIETTA, GA. — Marcus & Millichap has brokered the $3.5 million sale of an 11,370-square-foot property leased to CVS/pharmacy in Marietta. The property is located at 3051 Sandy Plains Road, roughly 26 miles north of downtown Atlanta. Don McMinn of Marcus & Millichap’s Taylor McMinn retail group arranged the sale on behalf of both the buyer, Agree Realty Corp., and the seller, Branch Properties. CVS/pharmacy had 11 years remaining on its lease at the time of sale.
MESA, ARIZ. — NAI Horizon has arranged the acquisition of an office and industrial facility located at 10646 E. Pecos Road in Mesa. Peoria, Ariz.-based YBL LLC purchased the facility from DMW Properties, an Oregon limited liability company, for $2.7 million. The buyer, which operates as Liberty Lumber, is a contractor of residential and commercial lumber and supplies. The buyer plans to relocate its operation to the 12,436-square-foot facility. Rick Foss of NAI Horizon represented the buyer, while Tom Bean, also of NAI Horizon, represented the seller in the transaction.
SACRAMENTO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Westlake Village, a shopping center located at 3501-3511 Del Paso Road in Sacramento. The sale also included 4.3 acres of developable land. Donahue Schriber Realty Group sold the 31,980-square-foot property to a San Francisco-based family trust for an undisclosed price. Built in 2007, the center was 92 percent occupied at the time of sale. Tenants include Walgreens, Allstate Insurance, AIM Mail Center, Chase Bank, Creative Nail Spa, Donahue Schriber, Subway and Westlake Hair Studio. Bill Asher and Ed Hanley of Hanley Investment, in conjunction with Ten-X, represented the seller, while Eric Vu, also of Hanley, represented the buyer in the deal.
BOSTON — JLL Capital Markets has arranged the sale of 10 Cabot Road in Medford, a 107,026-square-foot office building for $25 million. Frank Petz, Matthew Sherry and Scott Carpenter of JLL brokered the sale of the property on behalf of Boston-based Morris & Morse Co. The buyer was KS Partners. At the time of the sale, 10 Cabot Road was 79 percent leased to nine tenants. The building is located four miles north of downtown Boston with access to the Massachusetts Bay Transportation Authority’s Orange line.
DURHAM, N.C. — Cushman & Wakefield has brokered the $27 million sale of two apartment communities in Durham: Oaks at Northgate and Leon Court. The adjacent properties total 386 units. Watson Bryant, Jordan McCarley and Paul Marley of Cushman & Wakefield arranged the transaction on behalf of the seller, Artesia Real Estate. The name of the buyer was not disclosed. During its ownership, Artesia invested $1 million in capital improvements for the communities, including roof replacement, exterior paint, new office/clubhouse, outdoor common area upgrades and improved landscaping. Amenities at the properties include a clubhouse with a coffee bar, pet stations, playgrounds, fire pits, picnic/grilling areas and a sports field. The communities are located less than two miles from downtown Durham and are situated within walking distance to Costco, The Home Depot and Kroger.
LEESBURG, FLA. — Phillips Edison & Co. has acquired Shoppes of Lake Village, a 135,437-square-foot shopping center in the Central Florida community of Leesburg. The name of the seller and sales price were not disclosed. Publix anchors the center, which is also home to tenants such as Advance Auto Parts, Dollar Tree, H&R Block, Bon Worth, Wells Fargo Bank and Wireless Unlimited.
WOODBRIDGE, ST. CHARLES AND CRYSTAL LAKE, ILL. — Michael P. Jakubiec Investment Real Estate Inc. has brokered the sale of three apartment properties in Illinois for a purchase price of just under $26 million. The properties, which total 263 units, include The Quarters in Woodbridge, Charleston Park Apartments in St. Charles and Camelot Apartments in Crystal Lake. TriCap Residential was the buyer. A private party was the seller.
DES MOINES, IOWA — Bellomy & Co. has negotiated the sale of two Class A self-storage facilities in Des Moines. The sales price was not disclosed. One of the properties, Afford It Storage, includes 280 units spread across 36,150 square feet. Country Club Mini Storage features 170 units totaling 22,200 square feet. The facilities, located 5.6 miles apart, both feature a mix of climate-controlled and non-climate-controlled units. Bill Bellomy, Michael Johnson and John Arnold of Bellomy represented the Iowa-based seller. The team also procured the buyer, StorageMart, which operates more than 15 million square feet of storage in three countries.
CERRITOS, CALIF. — Rexford Industrial Realty has acquired an industrial facility located at 16010 Shoemaker Ave. in Cerritos within the Los Angeles-Mid Counties submarket. An undisclosed company sold the property for $17.2 million, or $149 per square foot. Situated on 4.4 acres, the 115,600-square-foot property features 24-foot clearance and 12 dock-high positions with a secured concrete yard and immediate access to major transportation arterials. At the time of sale, the property was fully leased to a single-tenant user. Redford funded the acquisition through a combination of cash on hand and draws on the company’s line of credit.