FORT COLLINS, COLO. — US Property Trust has acquired Mulberry & Lemay Crossing, an 18,988-square-foot shopping center located in Fort Collins, for an undisclosed price. Walmart and The Home Depot shadow anchor the center. Tenants at the property, located at 1281 E. Magnolia St., include RadioShack, Supercuts, Silver Mine Subs, The UPS Store, Qdoba, Dairy Queen, GameStop, Papa John’s, State Farm and Chase Bank.
SANTA CLARITA, CALIF. — Hanley Investment Group Real Estate Advisors (HIG) has arranged the sale of Bouquet Center, a 148,903-square-foot, grocery-anchored shopping center located in the Los Angeles suburb of Santa Clarita. The price was not disclosed. Ed Hanley and Kevin Fryman of HIG represented the seller, a Los Angeles-based private investor, in the sale of the property to an undisclosed, publically traded REIT. Built in 1985, the center underwent a $7 million renovation in 2007. Tenants at the 95 percent occupied property include Vons, CVS/pharmacy, Ross Dress for Less, Chase, Citibank, Wendy’s, Baskin Robbins, Jersey Mike’s Sub, Little Caesars Pizza and Payless ShoeSource.
WAUKEGAN, ILL. — HSA Commercial Real Estate has arranged a 120,249-square-foot industrial lease at the Delany Commerce Center in Waukegan, approximately 40 miles north of Chicago. Trifinity Partners, a third-party logistics firm, will occupy space at the distribution center located at 2431 Delany Road. HSA Commercial and Great Point Investors developed the 218,500-square-foot building. There is approximately 100,000 square feet of space still available at the facility, which features 30-foot clear heights, 14 truck docks, a drive-in door and 300 parking spaces. Tim Thompson of HSA Commercial represented the ownership in the transaction, and Tom Boyle and Jared Paff of Transwestern represented the tenant.
ORLANDO, FLA. — Passco Cos. LLC has purchased The Ivy, a 248-unit, Class A apartment community within the Florida Hospital Health Village in Orlando, for $53.5 million. The newly built property is located at 2650 Dade Ave. within walking distance of a SunRail station. Constructed in 2015 by Atlanta-based Wood Partners, The Ivy features multi-level pool decks with a resort-style swimming pool, fitness center and a yoga studio. Passco has retained Wood Partners to manage the property. Shelton Granade of CBRE represented Passco and the undisclosed seller in the transaction. Chris Black of KeyBank Real Estate Capital arranged a Fannie Mae loan to finance the acquisition.
YORK, PA. — A joint venture between an affiliate of Endurance Realty Estate Group and a commingled fund managed by American Realty Advisors has completed the disposition of a bulk distribution facility located at 325 S. Salem Church Road in York. An undisclosed buyer acquired the 785,400-square-foot property for $60 million, or $76.39 per square foot. The property is currently fully leased to Target Corp. and is utilized as the company’s Northeast distribution center for its e-commerce platform. Michael Hines, Brian Fiumara and Brad Ruppel of CBRE National Partners represented the seller in the deal.
SAN MARCOS, CALIF. — Blueprint Healthcare Real Estate Advisors, a brokerage based in Chicago, has arranged the $18 million sale of Village Square, a 118-bed skilled nursing facility in San Marcos, approximately 35 miles north of San Diego. A publicly traded REIT seeking to divest non-core assets sold the property to a Los Angeles-based investor. The new owner plans to implement a turnaround strategy at the facility. The sales price equates to approximately $68,000 per bed. Christopher Hyldahl and Ben Firestone of Blueprint executed the transaction.
ATLANTA — Birmingham, Ala.-based Graham Commercial Properties (GCP) has purchased a three-property portfolio of industrial buildings in metro Atlanta totaling $53.3 million. The portfolio comprises six Class A, bulk distribution buildings totaling 979,650 square feet. The portfolio includes Progress Center, a two-building, 451,200-square-foot property located at 2200 and 2225 Cedars Road in Lawrenceville; Air Commerce Center, a two-building, 268,400-square-foot property located at 4900 St. Joe Blvd. in College Park; and North Atlanta Distribution Center, a two-building, 260,050-square-foot industrial property located at 5065 and 5075 Buford Highway in Norcross. The buildings feature 24- to 30-foot clear heights, and the combined occupancy was 92 percent at the time of closing. CBRE represented the seller, Boston-based TA Realty, in the transaction, and GCP was represented in-house. Notable tenants include Innotrac, Zodiac Services, Wurth Wood and Carrier. Wells Fargo Bank provided acquisition financing on behalf of GCP. With this acquisition, GCP now controls 1.2 million square feet of industrial space in the Atlanta area.
SOUTHGATE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 14,238-square-foot strip retail center in Southgate, approximately 15 miles southwest of Detroit, for an undisclosed price. Metropolitan Real Estate – Wyandotte LLC sold the multi-tenant building, located at 16134-16146 Eureka Road, to Southgate Property LLC for an undisclosed price. The property was built in 1963. Greg Hornby of Friedman represented both parties in the transaction.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged a 6,300-square-foot office lease in downtown Grand Rapids. Modustri, a digital precision measurement tool company, will occupy the entire sixth floor at the 35 Oakes building. Mary Anne Wisinski-Rosely and Hillary Woznick of NAI Wisinski of West Michigan represented the landlord, Project 35 LLC, in the transaction. Adam Vranian of North Star Commercial represented Modustri.
NORTH ANDOVER, MASS. — The Hampshire Companies has completed the sale of an industrial building located at 351 Holt Road in North Andover. Atlantic Management Corp. acquired the 248,500-square-foot property for an undisclosed price. At the time of sale, the property was fully leased by, but no longer occupied by, Solo Cup Co. Situated on 27.7 acres, the facility features 26-foot ceiling heights, eight tailboard doors, three drive-in doors, two rail-car doors, 150 automobile parking spaces, 30 trailer parking spaces and 9,000 square feet of office space. Mark Reardon, Bruce Lusa and David Corkey of CBRE represented the seller in the transaction.
