CHICAGO — Matthews Real Estate Investment Services has negotiated the $6.2 million sale of a five-property multifamily portfolio totaling 95 units in Chicago. The assets are located on the city’s West Side on North Waller, North Lotus, West Augusta, West Washington and North Central avenues. Finley Askin of Matthews represented both the seller, a local private investor, and the Brooklyn, N.Y.-based buyer.
GAHANNA, OHIO — The Cooper Commercial Investment Group has arranged the $1.7 million sale of a restaurant building occupied by Taco Bell in Gahanna, a northwest suburb of Columbus. The property serves as an outparcel to the Hunter’s Ridge shopping center. Dan Cooper of Cooper Group represented the seller, a private investment group based in Florida. Cooper also procured the undisclosed buyer. The sales price represents a cap rate of 4.5 percent and $694 per square foot. Taco Bell signed a 20-year lease extension at the property in 2020.
GRANITEVILLE, S.C. — JLL has brokered the sale of Global Avenue Logistics Center, a 450,033-square-foot, multi-tenant logistics facility located in the western South Carolina city of Graniteville. The facility, which comprises 30 acres, is located at 1043 Global Ave. within Sage Mill Industrial Park. Edgewater Ventures and Singerman Real Estate sold the property for an undisclosed price. Pete Pittroff, Britton Burdette, Patrick Nally, Dave Andrews and Zach Lloyd of JLL represented the sellers and procured the buyer, LM Real Estate Partners, in the transaction.
SEBASTIAN, FLA. — Marcus & Millichap has arranged the sale of The Liberty Building, a 327,136-square-foot industrial building located in Sebastian. In addition to industrial and office space, the property features a cafeteria and food preparation area, vending areas, a gymnasium, exercise rooms and employee restrooms and showers. Alex Zylberglait and Michael Crocchiola of Marcus & Millichap represented the seller, Hammond Development Group, in the $6.9 million transaction. Zylberglait and Crocchiola also procured and represented the buyer, TLC Land Holdings.
HUNTSVILLE, ALA. —Last Mile Investments has purchased Whitesburg Center, a 49,821-square-foot shopping center located at 5000 Whitesburg Drive in Huntsville. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represent the seller, Baker Storey McDonald Properties, in the transaction. The sales price was not disclosed. Built in 1990 and renovated in 2002, the center is leased to tenants including Dollar Tree, Hollywood Feed, Edible Arrangements, Baskin Robbins, Buff City Soap and Papa Murphy’s.
HOUSTON — A joint venture between locally based developer Midway and Los Angeles-based investment firm Arc Capital Partners has acquired Sabine Street Lofts, a 198-unit apartment complex located near downtown Houston. Built in 2001, the complex houses one- and two-bedroom units with an average size of 1,017 square feet that feature quartz countertops, individual washers and dryers and private balconies/patios. Amenities include two pools, a fitness center, outdoor lounge areas and access to Houston’s Buffalo Bayou trail network. Tom Fish and Jonathan Paine of Walker & Dunlop arranged acquisition financing on behalf of the joint venture. The seller and sales price were not disclosed.
COLLEGE STATION, TEXAS — Oldham Goodwin has sold the Westinghouse Building at Providence Park, a 175,752-square-foot life sciences facility in College Station. Oldham Goodwin acquired the facility, which was originally built in 1983 as a manufacturing plant for Westinghouse Electronic Systems Group, in 2016. At that point, the facility had been shuttered since 1999. Dallas-based Big Sky Medical Real Estate purchased the asset for an undisclosed price.
FORT WORTH, TEXAS — Locally based brokerage firm Colonial Commercial Real Estate has negotiated the sale of an 80,000-square-foot industrial building located near Fort Worth’s downtown area. Baillargeon Realty LLC sold the property at 205 N. Vacek St. to Tarrant Area Food Bank, a local nonprofit, for an undisclosed price. Jane Tapper of Colonial Commercial represented both parties in the transaction. The buyer also operates a food bank across the street.
BURLINGTON, MASS. — MetLife Investment Management has acquired Burlington BioCenter, a 109,085-square-foot life sciences facility located about 15 miles northwest of Boston, for $103 million. The facility was converted to life sciences from office usage in 2019 and was fully leased at the time of sale. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, a partnership between The Gutierrez Co. and GEM Realty Capital, in the transaction. David Douvadjian Sr. and Timothy O’Donnell, also with Newmark, arranged an undisclosed amount of acquisition financing on behalf of the buyer.
WEBSTER, N.Y. — Metro Boston-based brokerage firm Horvath & Tremblay has arranged the $18.6 million sale of Webster Plaza, a 154,991-square-foot shopping center located outside of Rochester in upstate New York. Tenants at Webster Plaza include Savers, the Town of Webster Public Library, Pet Supplies, Starbucks, Subway and FedEx. Jeremy Black, Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller, a private investor, in the transaction. The buyer was also a private investor.