CRYSTAL LAKE, ILL. — Northmarq has brokered the $34.7 million sale of a freestanding grocery store property occupied by Mariano’s in the Chicago suburb of Crystal Lake. Built in 2018, the property spans 74,800 square feet. The grocery store features a Starbucks, sushi bar, pizza oven, oyster bar and sweets shop. Jason Maier of Northmarq represented the seller, a New York-based private investor. The New York-based buyer completed a 1031 exchange.
EVANSTON, ILL. — Interra Realty has arranged the sale of a 43-unit apartment building in Evanston for $10.3 million. Originally constructed in 1918, the property at 612 Sheridan Road was 95 percent occupied at the time of sale. There are 21 one-bedroom units, 13 two-bedroom units and nine three-bedroom units. Brad Feldman of Interra represented the buyer, a local real estate investor. Patrick Kennelly and Paul Waterloo of Interra represented the seller, a private family group that had owned the property for more than 80 years.
DAKOTA DUNES, S.D. — Cushman & Wakefield has negotiated the $7.6 million sale of Tower Medical Plaza in eastern Nebraska’s Dakota Dunes. The property totals 35,130 square feet and is fully leased by seven tenants, including Beth Bruening PC, Dunes Family Pharmacy, ENT Consultants, Fyzical, Kevin L. Preston DO, Dunes Pain Specialists and MercyOne. The building is attached to the Dunes Surgical Hospital. Gino Lollio and Travis Ives of Cushman & Wakefield’s healthcare capital markets team partnered with James Hain and Richard Secor of Cushman & Wakefield/The Lund Co. on the transaction. Florida-based Catalyst Healthcare Real Estate purchased the asset from SSC MOB1.
SAN ANTONIO — Newmark has arranged the sale of Gardens at West, a 252-unit apartment community in San Antonio. According to Apartments.com, the property was built in 1995 and features one-, two- and three-bedroom units ranging in size from 664 to 1,269 square feet. Amenities include a pool, fitness center, business center, clubhouse, dog park and outdoor grilling and dining areas. Matt Michelson and Patton Jones of Newmark represented the seller, Regional Investment & Management, in the transaction. The buyer, locally based development and investment firm Embrey, will implement a value-add program and rebrand the property as The Hayden on West Avenue.
HOUSTON — Marcus & Millichap has brokered the sale of Bissonnet Beltway Plaza, a 29,205-square-foot retail property in southwest Houston. According to LoopNet Inc., the property was built on 5.6 acres in 1978. Alex Wolansky and Gus Lagos of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
PHOENIX — Weidner Apartment Homes has completed the disposition of Trailside at Hermosa Pointe, an apartment community in Phoenix. Knightvest Capital acquired the asset for $91 million, or $270,833 per unit. Built in 1984, Trailside at Hermosa Pointe features 336 apartments with full-size washers/dryers, wood-style vinyl flooring, carpet, tile entryways, walk-in closets, fireplaces and private balconies or patios. Community amenities include three swimming pools, a two-story leasing office and clubhouse, 24-hour fitness center with cardio and weight equipment, community playground, and covered parking. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
NEW YORK CITY — Locally based brokerage firm Alpha Realty has negotiated the $24 million sale of an 82-unit apartment building in the Crown Heights area of Brooklyn. The five-story building at 792 Sterling Place houses 30 studios, 34 one-bedroom units and 18 two-bedroom residences. Lev Mavashev of Alpha Realty represented the buyer and seller, both of which requested anonymity, in the off-market transaction. The deal traded at a cap rate of 6.4 percent.
CHINO, CALIF. — Affiliates of The Roxborough Group and Cress Capital have purchased an industrial property, located at 4331 Eucalyptus Ave. in Chino. Terms of the transaction were not released. Constructed in 2022, the 100,615-square-foot building features 28-foot clear heights, nine dock-high doors, eight grade-level doors and 2,000 amps of power. Richard Schwartz and Joey Reaume of Colliers assisted the partnership with the acquisition and will lead the marketing and leasing of the property.
PHOENIX — Everett, Wash.-based Evergreen Associates has acquired Black Canyon Commerce Center from Next Gen Black Canyon LLC for $11.2 million as part of a 1031 exchange. OpenTech Alliance and Convergent Outsourcing fully occupy the asset, which is located at 2102 W. Peoria Ave. Bill Swirtz of Colliers Arizona represented the buyer, while Eric Wichtreman of Cushman & Wakefield represented the seller in the deal.
GREENWICH, CONN. — A subsidiary of Chicago-based investment and advisory firm Bradford Allen has acquired a portfolio of two office buildings totaling 90,268 square feet in Greenwich, located in the southern coastal part of Connecticut. Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE represented the seller, a joint venture between international investment firm Global Gate Capital and Dallas-based Lincoln Property Co., in the transaction. The portfolio was 100 percent leased at the time of sale.
