WEST ALLIS, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 20,718-square-foot industrial building in West Allis, a western Milwaukee suburb, for an undisclosed price. The property is located at 6309 W. Greenfield Ave. WFF I LLC purchased the building from Horizon Enterprises LLC. Cale Berg of The Dickman Co. represented the buyer. Nicholas Flemma of CBRE represented the seller.
CHICAGO — Quantum Real Estate Advisors Inc. has arranged the sale of an 11,500-square-foot retail building in Chicago. The single-tenant property, located at 4441 W. Diversey Ave., sold for $1 million. The property is 100 percent leased to Unique Thrift Store, a subsidiary of Savers Inc., and is situated on slightly less than one-half acre. The seller was a family office based in the greater Chicago area. The buyer was a Chicago-based private real estate investor. Chad Firsel of Quantum was the sole broker in the transaction.
Chatham Township, N.J. — Kushner Cos. has acquired the Chatham Hill Apartments, a 308-unit rental apartment community in Chatham Township. Joseph Brecher of Gebroe-Hammer represented the seller, Home Properties/Lone Star. Meridian Capital Group arranged acquisition financing through New York Community Bank (NYCB). The property is located on 23 acres and offers a mix of one-, two-, and three-bedroom apartments featuring fully equipped kitchens with separate dining rooms. Amenities include a community pool with deck, tennis courts and on-site garage parking. Terms of the deal were not disclosed.
SAN DIEGO — The Casey Brown Co. has purchased the San Diego Union-Tribune property for $52 million. The asset is located at 350 Camino de la Reina in the San Diego submarket of Mission Valley. The property contains a 170,000-square-foot office building and a 190,000-square-foot industrial building that formerly served as the newspaper’s printing facility. Casey Brown plans to upgrade the existing office building into an amenity-rich, Class A corporate campus. The industrial building is currently being evaluated for alternative uses. The site was also recently entitled for 200 apartment units. The seller, Doug Manchester, was the former publisher of the Union-Tribune. CBRE will handle leasing the property.
GLENVIEW, ILL. — Seneca Real Estate Group has arranged the lease of a two-story banquet facility in Glenview, a northwestern Chicago suburb. United Investors Inc. leased the 17,000-square-foot facility for five years to In Paris Inc. The property is located at 3315 N. Milwaukee Ave. The building was originally designed to resemble a scaled-down version of the old Chicago Stadium (an indoor arena that at one time was the home of the Chicago Blackhawks and Chicago Bulls before closing in 1994). The property consists of a multi-level ballroom with majestic ceilings, lighting and a 4,000-square-foot commercial kitchen. The banquet hall accommodates 700 guests and includes a 160-car parking lot. After some internal design work, In Paris will continue to operate the property as a banquet facility hosting weddings, parties and corporate events. Joe Padorr of Seneca represented the landlord in the transaction.
LAS VEGAS — MG Properties Group (MGPG) has purchased the 312-unit Broadstone Azure apartment complex in North Las Vegas for an undisclosed sum. The community was built in 2007. Broadstone Azure features a resort-style pool, spa, lounge and fitness center. The property is located in North Las Vegas with access to the 215 and 15 freeways. MG financed the acquisition with a $22 million, 10-year mortgage from Fannie Mae that Bryan Frazier of Walker & Dunlop arranged. Doug Schuster of Newmark Grubb Knight Frank represented the unnamed seller.
CHESTER BOROUGH, N.J. — Holliday Fenoglio Fowler LP (HFF) has closed the sale of Chester Springs Shopping Center, a 223,000-square-foot, Class A, grocery-anchored retail center in Chester Borough. ShopRite, Marshalls and Staples anchor the property, which is 95 percent leased. Additional tenants include Starbucks, CVS Pharmacy, Burger King, Great Clips, Bagel Café, Subway and Massage Envy. HFF marketed the property on behalf of the seller, Heitman and Ramco-Gershenson Properties Trust. Dividend Capital Diversified Property Fund Inc. purchased the asset for $53.8 million (approximately $241 per square foot). The HFF investment sales team representing the seller was led by Jose Cruz, Kevin O’Hearn and Steve Simonelli and supported by Andrew Scandalios and Chris Munley.
PUYALLUP, WASH. — A joint venture between Lowe Enterprises Investors and First Capital Advisors has purchased the 256-unit Deer Creek Apartment Homes in Puyallup for an undisclosed sum. The community is located at 6115 111th St. East. The 18-acre, garden-style property was built in 2000. It was 95 percent occupied at the time of sale. Deer Creek is situated at the base of Mt. Rainier, 10 miles outside of Tacoma and 35 miles south of Seattle. Greystar will manage the property. Jones Lang LaSalle represented the unnamed seller.
PHOENIX — Cushman & Wakefield has arranged the $10.5 million sale of North Mountain Plaza, a 95,000-square-foot shopping center located in Phoenix. Dan Salley and Jack Wilson of Cushman & Wakefield represented the buyer, Pivot Development LLC, and Cam Stanton of CBRE represented the seller, CT Retail Properties Finance IV LLC, in the transaction. Fry’s grocery store anchors the center, which is 82 percent occupied.
TUCSON, ARIZ. — Harsch Investment Properties has purchased an office and flex industrial portfolio in Tucson for an undisclosed sum. The portfolio includes two buildings that total 190,000 square feet. The acquisition consists of the 60,000-square-foot Butterfield Corporate Plaza office/R&D flex property and the Tucson Airport Center, a 130,000-square-foot project with office and industrial tenants. Both properties are situated near Tucson International Airport and Interstate 10. CBRE’s Bill DiVito and Jesse Blum acted as the leasing agents for both properties. The seller was not named.
