SOMERSET, N.J. — Cushman & Wakefield has brokered the $12.9 million sale of Franklin Court, a 42,116-square-foot retail center located in the Northern New Jersey community of Somerset. Tenants at the property include Walgreens and KFC. Andrew Schwartz, Jordan Sobel, Seth Pollack and Andre Balthazard of Cushman & Wakefield represented the seller, Adoni Property Group, and procured the buyer, LJL Realty Co., in the transaction.
EDGEWATER, COLO. — Unique Properties/TCN Worldwide and the Unique Apartment Group have arranged the sale of Terra Village Apartments, a multifamily community located at 6201 26th Ave. in Edgewater. California-based Trion Properties acquired the asset for $110 million, or $273,631 per unit. Terra Village features 402 apartments. Recent renovations include new kitchen cabinets, stainless steel appliances, tile backsplashes, updated bathrooms and in-unit washers/dryers. Marc Lippitt, Elliott Polanchych, Will McCauley, Phil Dankner and Kevin Higgins of Unique Properties represented the undisclosed sellers in the deal.
APACHE JUNCTION, ARIZ. — Scottsdale-based Sonoma Valley LLC has completed the sale of Sonoma Valley Apartments, located at 975 S. Royal Palm Road in Apache Junction. FSO Real Estate Services, a division of Phoenix-based FSO Capital Partners, acquired the property for $44.5 million. Built in 2001, the 176,000-square-foot community consists of 11 two-story residential buildings on 9.9 acres. The property features 88 two-bedroom/two-bath, 950-square-foot units and 88 three-bedroom/two-bath, 1,050-square-foot units. On-site amenities include a pool, hot tub, 24-hour fitness center, picnic areas, basketball court and playground. Trevor Koskovich, Jesse Hudson, Bill Hahn and Ryan Boyle of Northmarq’s Phoenix investment sales team brokered the transaction.
AURORA, COLO. — Marcus & Millichap has negotiated the sale of The Fitz on 14th, an apartment property in Aurora. The community traded for $34.4 million, or $195,455 per unit. The names of the buyer and seller were not released. Constructed in 1973, Fitz on 14th features 176 apartments in a mix of 18 studios and 158 one-bedroom units with open kitchens. Community amenities include a resort-style pool, barbecue/picnic area, playground, dog park, on-site leasing office, laundry facilities and a fully equipped workout room. Jason Hornik and Greg Price of Marcus & Millichap’s Denver office represented the seller and buyer in the transaction.
LYNNWOOD, WASH. — Bellevue-based Sterling Realty Organization has completed the sale of Lynnwood Crossroads, grocery-anchored shopping center in Lynnwood. Orange County, Calif.-based Sakioka Farms acquired the asset for $45 million in an all-cash 1031 exchange transaction. Billy Sleeth and Paul Sleeth of Newmark represented the seller, while Pete Bethea, Glenn Rudy and Rob Ippolito of Newmark represented the buyer in the transaction. Sprouts Farmers Market, LA Fitness, Starbucks Coffee, Jersey Mike’s Subs, Five Guys, The Joint Chiropractic, Great Clips and Qdoba are tenants at the 103,141-square-foot retail space. At the time of sale, the property was 100 percent leased.
FEDERAL HEIGHTS, COLO. — Brinkman Real Estate has completed the disposition of Windom Peak Apartments, a multifamily property located at 120 E. Grace Place in Federal Heights. An undisclosed buyer acquired the asset for $24.6 million, or $262,234 per unit. Built in 1964, Windom Peak features 94 units spread across a mix of one-story apartment buildings and two-story townhomes offering one-, two- and three-bedroom floorplans. During Brinkman’s ownership, the company added an energy-efficient boiler, insulation to reduce energy loss on existing systems, and low-flow toilets and fixtures. Jake Young, David Potarf, Dan Woodward and Matt Barnett of Walker & Dunlop represented Brinkman in the deal.
BROWN DEER, WIS. — JLL Capital Markets has brokered the sale of Bevy Apartments in Brown Deer, a northern suburb of Milwaukee. The sales price was undisclosed. Built in 2020, the multifamily property features both apartments and townhomes. Units average 961 square feet and come in a variety of studio, one- two- and three-bedroom floor plans. Amenities include a fitness center, outdoor terrace, clubroom, dog park and underground parking. Wick Kirby, Amanda Friant, Jeremy Weinstock and Jaime Fink of JLL represented the seller, Fiduciary Real Estate Development Inc. JVM Realty Corp. was the buyer.
LAWRENCE, KAN. — Marcus & Millichap has negotiated the $4.5 million sale of Lawrence 27, a 12,945-square-foot retail building in Lawrence. The property was built in 2014 and expanded in 2017. Lawrence 27 was fully occupied at the time of sale by Buffalo Wild Wings, Tropical Smoothie Café, Vapor World, Sports Clips and SunTan City. Zachary Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the buyer, a Kansas-based partnership. A Kansas City-based development firm was the seller.
CHICAGO — CBRE has arranged the sale of a 58,803-square-foot office building in Chicago’s Fulton Market for an undisclosed price. The loft-style property, located at 217 N. Jefferson St., was built in 1937 and renovated in 2017. The building rises six stories and includes 40 surface parking spaces. Keely Polcynski and Blake Johnson of CBRE represented the seller, Metonic. A private buyer purchased the asset.
SCOTTSDALE, ARIZ. — CapRidge Partners has completed the sale of Scottsdale Forum, a Class A office property located at 6263 N. Scottsdale Road in Scottsdale. Federal Realty Investment Trust acquired the asset for $53.6 million. Situated on 7.1 acres, Scottsdale Forum features 214,000 square feet of recently renovated office space. On-site amenities include an outdoor courtyard and gaming area, on-site deli, collaboration areas, tenant lounges, conference room and underground parking. Ben Geelan and Will Mast of JLL Capital Markets represented the seller in the transaction.