CHICAGO — NelsonHill has arranged a 122,000-square-foot industrial lease in Chicago. The facility is located at 1200 W. Cermak Road and features new lighting, loading docks, 18-foot clear heights and parking. The entire facility was leased in six transactions. Tenants in the property include Fastenal Co., Shyp Inc., MakeSpace, Windy City Greens, Gourmet Gorilla and Sherwin-Williams. Michael Nelson and Mark Nelson of NelsonHill arranged the transactions.
TEMECULA, CALIF. — A joint venture of Citivest Commercial Investments LLC and Ares Management has acquired a major portion of Temecula Town Center, a 241,980-square-foot shopping center is located at 27540 Ynez Road, in a transaction valued at $60 million. The seller was BACM 2006-5 Rancho California LP. The acquired portion of the 241,980-square-foot center includes CVS/pharmacy, Home Goods, 24 Hour Fitness Sport Club, Chase Bank and Active, among others. Built in 1989, the center is currently 85 percent occupied. Michelle Schierberl and Donald Ellis of Colliers International represented the seller in the transaction.
ARVADA, COLO. — 29th St. Management LLC has purchased the 58-unit Village West apartment complex in Arvada for $9 million. The community is located at 12155 West 58th Place. It was built in the 1972. The buyer plans to renovate the property. Andy Hellman and Justin Hunt represented the seller, Village West Investment Group LLC, in this transaction.
PHOENIX — The U.S. Department of Veterans Affairs has leased 20,000 square feet of space at Estrella Health Center in Phoenix. The center is located at 9250 W. Thomas Road. The VA will occupy the 4th floor of the building. It plans to utilize this space as an outpatient clinic for the Southwest community. Matt Fitzgerald of Colliers and Elena K. Safaei of Legend Real Estate Management served as consultants for the landlord, Legend Real Estate Management.
ROUND ROCK, TEXAS — ARA Newmark has arranged the sale of Brushy Creek Village, a 112-unit apartment community located in Round Rock, a suburb of Austin. The property was 100 percent occupied at the time of the sale. Andrew Shih and James Young of ARA Newmark represented the seller, Steinmetz Family Trust, in the transaction. NGKF Capital Markets and ARA Newmark’s Patrick Short arranged financing through Freddie Mac on behalf of the buyer, a private investor out of San Diego. Brushy Creek Village is a garden-style community that was constructed in 1984 with brick and wood siding. Community amenities include a pool, laundry facilities, eight-foot ceilings and a washer and dryer connection in select units.
WAYNESVILLE, N.C. — Yale Realty Services Corp. has purchased Waynesville Commons, a 126,901-square-foot shopping center in Waynesville, roughly 30 miles west of Asheville. Yale Realty purchased the center from CBL & Associates Properties Inc. for $14.5 million. Built in 2012, the shopping center’s tenant roster includes Belk, Michaels, PetSmart, Rack Room Shoes, SuperClips and US Cellular. Waynesville Commons is shadow-anchored by a 188,494-square-foot Walmart Supercenter. Alex Quarrier and Marc Ozburn of Berkeley Capital Advisors represented the seller in the transaction.
PALATINE, ILL. — Faris Lee Investments has brokered the $7.1 million sale of an 11,800-square-foot retail property. The Shops at Deer Grove is fully occupied and located on 1.5 acres in Palatine, approximately 30 miles northwest of Chicago. Tenants in the center include Starbucks Coffee, Menchie’s Frozen Yogurt, Pie Five Pizza, AT&T, Jersey Mike’s Subs and Chipotle Mexican Grill. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented both parties in the transaction. The seller was an Illinois-based private developer and the buyer was a Wisconsin-based private investor.
CHICAGO — Marcus & Millichap has arranged the sale of a 6,012-square-foot mixed-use property in Chicago. The building, located at 2058 W. Roscoe St., sold for $1.7 million. Kyle Stengle of Marcus & Millichap marketed the property on behalf of the seller and secured and represented the buyer. Both parties in the transaction were undisclosed and were limited liability companies. The property includes one commercial tenant on the ground floor and five apartment units on the second and third floors.
TEMPE, ARIZ. — Tesla Motors has agreed to lease a 42,281-square-foot facility in Tempe. The free-standing building is located at 2077 E. University Drive. This is Tesla’s second Phoenix Valley location, in addition to its retail showroom at Scottsdale Fashion Square. Wentworth Property Co. recently purchased the property for $3.6 million. Andy Markham of Cushman & Wakefield represented the buyer in the transaction. Dave Johnson and Jerry Marrell of Lee & Associates represented the seller, Essex-Scot LLC, a window manufacturer that previously occupied the facility until it outgrew the space.
GRASS VALLEY, CALIF. — Pine Tree Commercial Realty has acquired Pine Creek shopping center in Grass Valley for an undisclosed price. Built in 1988, the 216,683-square-foot property is occupied by a 60,000-square-foot Raley’s grocery store, JC Penney, Petco, Dollar Tree, Starbucks Coffee, Carl’s Jr., International House of Pancakes, Jamba Juice, Sally Beauty and GNC. Jon DuBois of Core Commercial’s Sacramento office brokered the transaction. Goldman Sachs Mortgage Company provided acquisition financing. The name of the seller was not released.
