REBusinessOnline

IPA Negotiates Sale of 181-Unit Union at River East Apartments in Fort Worth

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Union at River East, a 181-unit multifamily community in Fort Worth. Built on three acres in 2019, the property features studio, one- and two-bedroom units with an average size of 883 square feet. Amenities include a pool, coworking area, lounge, dog park and a package concierge system. Drew Kile, Joey Tumminello, Will Balthrope and Grant Raymond of IPA represented …

Cooper Group Brokers $6.3M Sale of Overland Pointe Marketplace in Suburban Kansas City

OVERLAND PARK, KAN. — The Cooper Commercial Investment Group has brokered the sale of Overland Pointe Marketplace in Overland Park for $6.3 million. The two-building retail property spans 80,047 square feet. Some of the tenants include The Big Biscuit, a gym, nail salon and dry cleaner. The asset is shadow anchored by Sam’s Club, Home Depot and Hy-Vee. Dan Cooper of Cooper Group represented the seller, an Ohio-based private investment group. A West Coast-based investment group was the

Oak Residential Partners Acquires 249-Unit Apartment Community in Suburban Twin Cities

COTTAGE GROVE, MINN. — Oak Residential Partners has acquired Hinton Heights in Cottage Grove, a suburb of the Twin Cities. The purchase price was undisclosed. The 249-unit apartment community features amenities such as an indoor pool, spa and picnic areas. All units feature individual entrances and most have attached garages. Ted Abramson, Keith Collins and Abe Appert of CBRE Minneapolis Multifamily represented the seller, Curtis Capital Group. The sale represents a value-add opportunity, …

Wheelock, Camber Buy Life Sciences Building in Northborough, Massachusetts, for $33M

NORTHBOROUGH, MASS. — A joint venture between Connecticut-based Wheelock Street Capital and Camber Development has purchased Sanofi Genzyme’s Northborough Global Operations Center, a 212,000-square-foot life sciences building in Northborough, located outside of Worcester. The sales price was $33 million. The property is situated on a 19.3-acre site and was fully leased at the time of sale. Coleman Benedict, Matthew Sherry, Ben Sayles, Michael Restivo and Corbin Stall of JLL represented the …

Cushman & Wakefield Brokers Sale of 140,548 SF Industrial Complex in Woodland Park, New Jersey

WOODLAND PARK, N.J. — Cushman & Wakefield has brokered the sale of Lackawanna Business Park, a 140,548-square-foot industrial complex located at 86 Lackawanna Ave. in Woodland Park in the northern part of the state. The sales price for the three-building complex was $10.2 million. Andrew Schwartz, David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank DiTommaso and Jordan Sobel of Cushman & Wakefield represented the seller, Lackawanna Associates LLC, and procured the buyer, Lackawanna …

JLL Negotiates Sale of Nursing Home Near Boston for Conversion to Multifamily

WEYMOUTH, MASS. — JLL Capital Markets has arranged the sale of the former Colonial Nursing Center in Weymouth, a South Shore suburb of Boston. The buyer plans to convert the property into a workforce housing asset. The seller and sales price were not disclosed. Located on 2.1 acres and totaling 72,999 square feet, the current layout includes 93 units with various amenities, including a commercial kitchen, dining room, activity areas, outdoor courtyard, common gathering areas and outdoor …

Brinkman Enters Montana Market, Acquires 128-Unit King West One Apartments in Billings

BILLINGS, MONT. — Brinkman Real Estate, in partnership with Blue Field Capital, has purchased King West One, an apartment property in Billings. The acquisition is Brinkman’s first in Montana.Built in 2009, King West One features 128 two-story, townhome-style apartments ranging from 680 square feet to 1,100 square feet with individual detached garages. The complex is spread across 13 buildings. At the time of sale, the property was nearly 100 percent occupied.Terms of the transaction …

Crusader Insurance Sells 46,889 SF Office Building in Calabasas, California

CALABASAS, CALIF. — Crusader Insurance Co. has completed the sale of a two-story office building located at 26050 Mureau Road in Calabasas. An undisclosed buyer acquired the asset for $12.7 million, or $271 per square foot.Built in 1997, the 46,899-square-foot building features a training center, boardrooms, fitness center, server rooms, employee lounge, outdoor patio, elevator and 157 parking spaces.Jay Rubin and Eugene Kim of Lee & Associates represented the seller, while Craig …

Disney Investment Group Arranges Sale of 124,289 SF Towne North Shopping Center in Irving

IRVING, TEXAS — Locally based retail brokerage firm Disney Investment Group has arranged the sale of Towne North, a 124,289-square-foot shopping center in Irving. Ethnic grocer El Rancho Supermercado anchors the property, which was 97 percent leased at the time of sale. David Disney and Adam Crockett of Disney Investment Group represented the seller, an affiliate of Dallas-based Nayeb Group, which sold the property to an out-of-state private equity firm. Disney Investment Group also arranged …

Marcus & Millichap Brokers Sale of 200-Site RV Park in Galveston, Texas

GALVESTON, TEXAS — Marcus & Millichap has brokered the sale of Galveston Island RV Resort, a 200-site property that is situated on a 28.3-acre tract in the coastal Texas city. Jesse Pine and Bob Kaplan of Marcus & Millichap represented the seller, a private investor, in the transaction. Pine also procured the buyer, Kampgrounds of America Inc. (KOA). Tim Speck of Marcus & Millichap assisted with the closing of the

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