Properties acquired in Jackson County commercial deals
Several multi-million dollar commercial real estate transactions were completed in Jackson County during December.
Heartland Express, a North Liberty, Iowa, trucking firm that acquired Gordon Trucking in 2013, has acquired the Medford trucking terminal from the former Gordon Trucking owners, Larry and Virginia Gordon, for $4.375 million.
Heartland paid $285 million in November 2013 for Gordon Trucking's stock, but additional personal and property agreements pushed the overall figure to more than $300 million.
The 5.72-acre terminal and yard at 1923 Sage Road, just north of Highway 238, was built in 1980 and expanded in 1995. A staff of 25 office and shop workers support 150 drivers based out of Southern Oregon. Heartland operates one of the five largest fleets, with reported revenue of $871.4 million in 2014, and has 4,500 employees across the country.
In other commercial acquisitions in December, Ron DeLuca of Ashland-based Pacific Properties purchased three Ashland apartment complexes and one in Central Point for just under $9 million.
Pacific Properties is one of the region's largest residential property management firms, overseeing approximately 2,200 housing units in Ashland, Central Point and Medford.
DeLuca purchased a 65,230-square-foot complex at 105 and 132 Lincoln Street covering a combined 1.57 acres from William Koenigsburg of Ashland for $4.22 million. DeLuca also bought a seven-unit complex at 458 Iowa St., Ashland, from Koenigsburg for $650,000, and a 2,944-square-foot apartment building at 357 Vista Drive for $562,000 from Koenigsburg.
DeLuca obtained the 55,000-square-foot Sunrise Apartments, on 2.17 acres at 1091 Sunrise Way, Central Point, from Washington Federal bank for $3.552 million.
"Apartment and multiple family residential sales usually pick up at the end of the year," said Jeff Leever of Pulver & Leever Real Estate Co. in Medford. "We've seen a lot of important buildings changing hands and people looking at bare ground and starting new projects. This is a sign the economy is getting better."
Other transactions of note included:
- Juhan and Rachel Kim of Jung Dong LLC acquired the Valero gas station, Sports Park Snack and Shine at 3082 Samike Drive, Medford, for $1.375 million. Fredric and Vonic Waugh sold the gas station, car wash and convenience store near the intersection of Highway 99 and South Stage Road that opened as an Arco AM/PM Mini-market 18 years ago.
- Historic Pelton House, an Ashland bed and breakfast at 228 B St., was acquired by Vanessa and Hani Hajje from Mary and Brenda Barnhill for $685,000. The 2,831-square-foot structure dates to 1880.
- Mark and Malia Kellenbeck of Exit 24 Storage LLC purchased 4.65 acres of commercial land from Keith and Willis Pyle next to the Petro Truck Stop at 3850 Fern Valley Road, Phoenix, for $549,000.
- Tal Mashhadian and Rebecca Dowell of Mountain View, Calif., purchased a 3,800-square-foot office building at 1908 Ashland St., Ashland, from Roy and Andrea Davis for $569,500. An insurance agency and tax preparation service are located there.
- Jillian McDonald of Beaverton acquired two office buildings from Thielemann Family LLC, whose managing members are Sharon and Rudolf "Buzz" Thielemann of Medford. An 872-square-foot building at 1020 Court St., and an 840-square-foot building at 315 Boardman St., were sold for $230,000 each.
- John and Gerald Gritsch purchased a 13,680-square-foot warehouse on 1.03 acres at 189 Ehrman Way in Medford from Jackson Materials for $622,000.
- TVU LLC of Eagle Point, whose members include general contractor Ryan Hukill, purchased a commercial warehouse at 3855 Crater Lake Highway from Rex C. Johnson for $420,000.