HAVERHILL, MASS. — Chicago-based investment firm Echo Real Estate Capital Inc. has sold a 59,000-square-foot medical office building located in the northern Boston suburb of Haverhill for approximately $9.6 million. The building is located on the Lawrence General Holy Family Hospital campus and was 90 percent leased at the time of sale. Tenants include Revere Medical, Northeast Rehab, Mobility Bone and Joint Institute and PhyNet Dermatology. The buyer was not disclosed.
SEATTLE — CBRE has arranged the sale of 8th + Republican Apartments, a mid-rise multifamily community in Seattle’s South Lake Union neighborhood. A confidential institutional investor acquired the property from a confidential seller for $94.8 million. Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper of CBRE represented the seller in the transaction. Completed in 2016, 8th + Republican offers 211 apartments with smart home technologies, solar shades, walk-in closets, wood-style flooring, stainless steel appliances and floor-to-ceiling windows. Community amenities include an outdoor terrace with panoramic views, a fitness center, dog park and spa, a resident lounge and dry cleaning services.
PHOENIX — IDI Logistics has acquired an industrial property, located at 3302 W. Washington St. in Phoenix, from Atlas Capital Partners for $20 million. Situated on 5.2 acres, the 101,794-square-foot vacant building features a clear height of 32 feet, 12 dock-high doors, four drive-in doors and a fully secured 140-foot truck court. Tanner Ferrandi, John Wrestler and Cooper Pratt of CBRE represented the buyer and seller in the deal. The CBRE team will also serve as listing agents for the property.
IRWINDALE, CALIF. — Voit Real Estate Services has arranged the sale of a multi-tenant industrial and distribution park in Irwindale. DJ CRT LLC sold the asset to Dunbar Real Estate Investment Management for $10 million. Located at 1400-1430 Arrow Highway, the property offers 51,487 square feet of space spread across three grade-level freestanding buildings with a total of 16 units. At the time of sale, the asset was 56 percent occupied. Michael Hefner of Voit represented the seller and buyer in the deal.
LANSING, MICH. — ACRES Capital has provided a $30.5 million first mortgage to finance the acquisition of Gateway Lofts, a student-oriented multifamily community in Lansing. Built in 2021, the property features 181 units across a five-story building. In addition to 9,334 square feet of ground-floor retail space, the community features a fitness center, clubhouse, game room, coffee bar, bike storage, conference room and 204 surface parking spaces. The property is located 0.7 miles from Michigan State University. Vesper was the borrower.
TOPEKA, KAN. — Marcus & Millichap has brokered the sale of a two-property self-storage portfolio with 580 units in Topeka. Located at 3200 S. Kansas Ave. and 235 SW Gage Blvd., the facilities total 67,721 rentable square feet. The properties are 84 percent occupied and include climate-controlled and non-climate-controlled units, outdoor parking and portable units. Sean Delaney and Colby Haugness of Marcus & Millichap represented the Utah-based seller and procured the buyer, a Pennsylvania-based owner that engaged KO Storage to manage the portfolio moving forward.
NAPERVILLE, ILL. — Mid-America Real Estate Corp. has arranged the sale of Pebblewood Commons, a 20,427-square-foot retail center in the Chicago suburb of Naperville. Constructed in 2008, the property is home to dining, health and wellness, and personal services tenants. Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Northern Builders Inc. The asset sold to a public REIT.
VILLA PARK, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired an 11,920-square-foot industrial building at 865 N. Ellsworth Ave. in Villa Park. The single-tenant property was fully leased at the time of sale. Built in 1980, the facility features one dock, one drive-in door and roughly a quarter acre of outdoor storage. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
ROSENBERG, TEXAS — Nashville-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of Big Lenny’s Storage, a 182-unit self-storage facility in Rosenberg, a southwestern suburb of Houston. The facility was built in 1979 and spans 33,400 net rentable square feet of primarily non-climate-controlled space. Austin McLeod of Matthews represented the seller in the transaction. Texas-based owner-operator Curio Storage purchased the facility for an undisclosed price.
ROCKWALL, TEXAS — Los Angeles-based investment firm Westwood Financial has acquired Shops at Stone Creek, an 80,599-square-foot retail center located in the northeastern Dallas suburb of Rockwall. A 59,313-square-foot Tom Thumb grocery store anchors the center, which was fully leased at the time of sale. Other tenants include Care Now, Great Clips, Subway, Salad and Go, McDonald’s, HTeaO and The UPS Store. The seller and sales price were not disclosed.