ENNIS, TEXAS — Marcus & Millichap has brokered the sale of The Willows, an 84-unit apartment building in Ennis, about 40 miles south of Dallas. The Willows was built on a 3.8-acre site in 1985 and offers studio, one- and two-bedroom units. Matt Aslan and Bard Hoover of Marcus & Millichap represented the seller in the transaction. The duo also collaborated with Marcus & Millichap’s Nick Fluellen to procure the buyer. Both parties requested anonymity.
LIMERICK, PA. — Pennsylvania-based private equity firm PPR Capital Management has purchased Botanica Cottages, a 199-unit apartment complex in Limerick, a northwestern suburb of Philadelphia. Built in 1999, Botanica Cottages offers one-, two- and three-bedroom units that are equipped with private entrances and attached garages. Amenities include a pool, spa, clubhouse and a fitness center. PPR acquired the property in partnership with Bel Canto Asset Growth Fund. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.
STAMFORD, CONN. — CBRE has negotiated the sale of a 153,416-square-foot shopping center in Stamford, located in southern coastal Connecticut. Whole Foods Market and Saks OFF Fifth anchor the center at 110 High Ridge Road, which is a redevelopment of a former Lord & Taylor department store into a multi-tenant center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, HBS Global Properties, in the transaction. The trio also procured the buyer, an entity doing business as 110 High Ridge Road LLC.
PENNSYLVANIA — Marcus & Millchap has brokered the sale of a portfolio of 10 Dollar General stores in Pennsylvania. The addresses were not disclosed, but the stores are all new construction and are operated under 15-year, triple-net leases. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap brokered the deal. The seller was a developer, and the buyer was an institutional investment firm. Both parties requested anonymity.
DENVER — MGL Partners has completed the sale of Carillon at Belleview Station, a seniors housing community in Denver. An institutional buyer acquired the property for $96 million as part of a multi-asset seniors housing portfolio. Located at 4855 S. Niagara St., Carillon at Belleview Station features 156 independent living, assisted living and memory care residences. Community amenities include a commercial kitchen and restaurant-style dining, a bistro, spa and wellness spaces and common areas designed to support comfort, connection and aging in place. The buyer purchased Carillon at Belleview Station alongside four other seniors housing properties across the country as part of a single portfolio transaction.
SAN JOSE, CALIF. — Chicago-based Waterton has acquired Misora, a mid-rise multifamily property at 388 Santana Row in San Jose. Terms of the transaction were not disclosed. Built in 2013, Misora offers 212 studio, one-, two- and three-bedroom units, with half of the layouts featuring a loft configuration or a den and select units including a private balcony. Waterton plans to upgrade residences to a modern finish level, including vinyl plank flooring, new lighting and plumbing fixtures, quartz countertops, new backsplashes and a new technology package. Stainless steel appliance packages and cabinets will be added as needed. Community amenities include a lap pool and spa, rooftop sundeck with barbecue and dining areas, a coworking lounge and conference center, a fitness studio, demonstration kitchen for community use and private underground parking. Waterton plans to update furniture and fixtures in the amenity spaces, add new flooring and equipment in the fitness center and reconfigure underutilized spaces.
PHOENIX — Newmark has brokered the sale of Thirty 03, a Class A office building located at 3003 N. Central Ave. in Phoenix. A Canada-based private buyer acquired the 26-story tower from Vancouver, Canada-based Balfour Pacific for $32.2 million. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller in the deal. Offering 458,047 square feet of office space, Thirty 03 has undergone nearly $11 million in transformative capital improvements. Implemented in 2019, the plan included extensive lobby upgrades, full elevator modernization and speculative suites. At the time of sale, the building was 81 percent leased to a diverse mix of tenants spanning legal, healthcare, architectural, banking, government and professional services sectors.
WARREN, MICH. — SRS Real Estate Partners has brokered the sale-leaseback of a single-tenant, 277,425-square-foot industrial facility located at 26661 Lipari Way in Warren. Built in 2006 and situated on 11.7 acres, the property serves as the headquarters and distribution site for Lipari Foods, a wholesale food distributor. Michael Carter and Frank Rogers of SRS represented Lipari Foods in the sale. The buyer was a private investment fund from New York City. Lipari Foods signed a new, corporate-guaranteed 15-year lease. The building features 28,000 square feet of office space and 205,000 square feet of temperature-controlled warehouse space, which includes nearly 23,000 square feet of dock space with a total of 30 dock doors.
ZIONSVILLE, IND. — CBRE has negotiated the sale of Reserve at William’s Glen, a 268-unit multifamily community in Zionsville. Birge & Held purchased the property from Buckingham Cos. CBRE’s Hannah Ott, George Tikijian, Cam Benz and Claire Hassfurther represented the seller. Built in 2001, the asset features a range of one- and two-bedroom floor plans averaging 916 square feet. Amenities include a pool, fitness center, clubhouse, business center, dog park, yoga and meditation room and walking trails.
OMAHA, NEB. — Investors Realty Inc. has arranged the sale of Brentwood Square Shopping Center in Omaha for $9 million. Brentwood Square Plaza LLC sold the 224,187-square-foot property to Brentwood I Acquisition LLC. Harbor Freight is the anchor tenant. Ember Grummons and Tim Kerrigan of Investors Realty represented the seller. The transaction also included an 89,359-square-foot land lease.
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