REBusinessOnline

Kiser Group Brokers Two Condo Deconversion Sales in Oak Park, Illinois for $12.4M

OAK PARK, ILL. — Kiser Group has brokered two condo deconversion sales in Oak Park for a total of $12.4 million. Regency Terrace Condominiums, a 56-unit property located at 922 North Blvd., sold for $8.8 million. Andy Friedman and Matt Halper of Kiser represented the seller, The Regency Terrace Condominium Association. Marco Cesario of Kiser represented the buyer, Goldman Investments. “Regency Terrace Condominiums is a prime example of how condo deconversions can be a win-win scenario …

Exeter Property Group Acquires 193,000 SF Industrial Building in Lombard, Illinois

LOMBARD, ILL. — Exeter Property Group has acquired a 193,000-square-foot industrial building located at 100 Progress Road in Lombard for an undisclosed price. The property is situated at the intersection of I-355 and North Avenue in the Central DuPage County submarket. The building offers clear heights ranging from 24 to 29 feet and is fully leased to Orora Packaging. David Bercu of Colliers International brokered the sale. A private investor sold the

Mid-America Brokers Sale of 7,882 SF Retail Building in Oak Creek, Wisconsin

OAK CREEK, WIS. — Mid-America Real Estate Corp. has brokered the sale of a 7,882-square-foot retail building on an outlot to Drexel Town Square in Oak Creek, about 12 miles south of Milwaukee. The sales price was undisclosed. The property is fully leased to five tenants, including Associated Bank, Sport Clips, Bentley’s Pet Stuff, Charles Schwab and Tropical Smoothie Café. Carly Gallagher Kelly and Andrew Prater of Mid-America represented the seller, a Wisconsin-based developer. A private …

NKF Arranges $128M Sale of 535-545 Boylston Street Office Building in Boston

BOSTON — Newmark Knight Frank has arranged the $128 million sale of 535-545 Boylston Street, a 184,643-square-foot office building located in the Back Bay neighborhood of Boston. At the time of sale, the building was 98 percent leased to 38 tenants. The property offers access to Copley Square and the Raffles Hotel & Residences project that is currently in development. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell represented the seller, Manulife Investment Management. …

Avison Young Brokers $7M Sale of Two Retail Properties in Metro Boston

NEEDHAM AND NEWTON, MASS. — Avison Young Commercial Real Estate has brokered the $7 million sale of two retail properties in Needham and Newton, two western suburbs of Boston. The property in Needham, a 15,609-square-foot retail center located at 238 Highland Ave., is leased to Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa. The property in Newton, a 3,588-square-foot building located at 106 Needham St., is leased to fitness equipment distributor Gym Source. …

JPI Sells 324-Unit Jefferson Landmark Apartment Community in North Dallas

DALLAS — Locally based multifamily developer JPI has sold Jefferson Landmark, a 324-unit apartment community located near the Galleria area of North Dallas. Completed in 2018, the property features one- and two-bedroom units and amenities such as an infinity-edge pool, a 24-hour mini market and courtyards with cooking stations. The buyer was New York-based Beachwold

Embrey Partners Buys Land in Fort Worth for 293-Unit Apartment Project

FORT WORTH, TEXAS — San Antonio-based developer Embrey Partners has purchased land in Fort Worth for a 293-unit apartment project. The community will be located southwest of downtown near The Shops at Clearfork and will feature one-, two- and three-bedroom units. Amenities will include a pool, fitness center, a dog park and bike storage space. The groundbreaking is scheduled for the end of January, and the first units are expected to be available for occupancy in summer

Rhone Brittmoore Acquires 111,530 SF Industrial Complex in Houston

HOUSTON — Rhone Brittmoore Logistics LP has acquired a 111,530-square-foot complex of industrial flex and manufacturing buildings in northwest Houston. The complex spans 7.9 acres and formerly served as a campus for Nabors Drilling Technologies USA Inc. Clay Pritchett and Zane Carman of NAI Partners represented Rhone Brittmoore in the transaction. Jeff Peden, Scott Miller and David Cook of Cushman & Wakefield represented Nabors, which was both the seller and former

Marcus & Millichap Brokers Sale of 37,736 SF Industrial Property in Houston

HOUSTON — Marcus & Millichap has brokered the sale of a 37,736-square-foot industrial building located at 7200 Wynnpark Drive in Houston. The property was built on 1.3 acres in 1971 and renovated in 1979 and 1982. Adam Abushagur and Cary Latham of Marcus & Millichap represented the seller, a private investor, in the transaction. Other terms of sale were not

PS Business Parks Acquires Two Industrial/Flex Assets in California for $30.3M

SANTA CLARA AND LA MIRADA, CALIF. — PS Business Parks (PSB) has completed the acquisition of two business parks in California for a total consideration of $30.3 million. The purchases will qualify as 1031 exchanges for tax purposes. On Dec. 20, 2019, PSB purchased San Tomas Business Center in Santa Clara for $16.6 million. Totaling 79,400 square feet, the park features nine buildings offering suites ranging from 200 square feet to 3,500 square feet. At the time of closing, the property was …

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