YONKERS, N.Y. — Virginia-based investment firm Excel Group has acquired the Hampton Inn & Suites Yonkers, a 150-room hotel located about 17 miles north of New York City. The property offers both traditional guestrooms and suites, and amenities include an indoor pool, fitness center, business center and meeting and event space. The seller and sales price were not disclosed.
JEFFERSON CITY, MO. — Newmark has arranged the sale of a 92,613-square-foot retail building net leased to Orscheln Farm & Home in Jefferson City. The sales price was undisclosed, but the asking price of $6.7 million represented a cap rate of 5.5 percent. Matt Berres, Samer Khalil, Karick Brown, Michael VanBuskirk and Chris Robertson of Newmark represented the seller, a private developer, and procured the undisclosed buyer. Orscheln Farm & Home took occupancy of the property in 2017 and signed a new 15-year lease in 2021. The retailer operates 175 stores in 11 states.
TROY, MICH. — Dominion Real Estate Advisors has brokered the sale of an 8,870-square-foot industrial building located at 1237 E. 14 Mile Road in Troy for an undisclosed price. Barry Landau and Eric Banks of Dominion represented the long-time owner, Expert Collision. Matt Cole of L. Mason Capitani/CORFAC International represented the buyer, S.C. Warren Auto & Glass Inc., which will continue to use the building as an automotive paint and repair shop.
SAN DIEGO — A joint venture between affiliates of Rockwood Capital and MG Properties has purchased Domain San Diego, a multifamily community in San Diego’s Kearny Mesa neighborhood, for an undisclosed price. The sellers were the real estate business within Goldman Sachs Asset Management and Magnolia Capital. Domain San Diego features 379 apartments in a mix of studio, one- and two-bedroom apartments, competitive community amenities and easy access to freeways 163 and 52. Joseph Smolen, Geoff Boler, Mark Peterson, Jonathan Merhaut and Eugene Chong of Eastdil Secured represented the sellers in the deal.
ALBUQUERQUE, N.M. — Northmarq has arranged the sale of two apartment communities in Albuquerque for an undisclosed price. ABQ Encore LLC and Uptown Horizon Apartments LLC sold the assets to CS ABQ Encore and CA ABQ Uptown, ownership entities of New York-based Crescent Sky Real Estate Partners, with loan assumptions and no new debt. The properties are the first acquisitions in Albuquerque by Crescent Sky Real Estate Partners. Located at 810 Eubank Blvd. NE, ABQ Encore features 129 residences split between 331-square-foot studio units and 551-square-foot one-bedroom units. The property was built in 1971 and converted from a hotel to a multifamily community in 2017. Community amenities include a laundry facility, 24-hour fitness center and pet park. Built in 1961, Uptown Horizon features 79 apartments, including 55 studio units and 24 one-bedroom units. The property’s roof was replaced in 2018, and 25 of the units underwent light upgrades with new kitchen appliance packages. Onsite amenities include a swimming pool, laundry facilities, outdoor grills and picnic areas. Uptown Horizon is located at 7601 Lomas Blvd. NE. Cynthia Meister, Trevor Koskovich and Jesse Hudson of Northmarq represented the sellers in the deal.
SAN DIEGO — CBRE has arranged the sale of a single-story office building in downtown San Diego. The San Diego County Bar Association acquired the asset from 330 A Street LLC for $6.8 million. Jeff Oesterblad and Marc Frederick of CBRE’s San Diego office represented the seller, while Tom Nicholas and Jack Blumenfeld of Colliers represented the buyer in the transaction.
DENVER — Marcus & Millichap has arranged the sale of an industrial property located at 1531 West Bayaud Avenue in Denver. Terms of the transaction were not released. Thimy Moraitis of Marcus & Millichap’s TAG Industrial Group represented the seller, a private investor, in the deal. Situated on 0.46 acres, the 11,688-square-foot asset is divided into three individual suites, consisting of nine percent office space. At the sale of sale, the property was fully leased.
LAWRENCEVILLE, GA. — JLL Capital Markets has brokered the sale of The Fieldhouse, a multifamily community featuring 252 residential units and 10,112 square feet of commercial space in Lawrenceville, roughly 30 miles northeast of Atlanta. Built in 2021, the property overlooks Coolray Field, home ballpark of the Minor League Baseball team Gwinnett Stripers. The Fieldhouse comprises three buildings with units in studio, one- and two-bedroom layouts. Amenities include a rooftop lounge, pool deck, grilling stations, two dog parks, a club and game room, workspace, a kitchen and bar for entertaining, a yoga studio and a fitness center. John Weber, Vic Ciancetta and Cade Songy of JLL represented the seller, Brand Properties, in the transaction. Bonaventure Realty Group was the buyer. The sales price was not disclosed.
MIAMI — Berkadia has arranged a $36.2 million loan for the acquisition of Cube WYNWD, an office building in the Wynwood neighborhood of Miami. Located at 230 NW 24th St., the building comprises 90,000 square feet of office space and 10,000 square feet of retail space. Scott Wadler of Berkadia secured the financing on behalf of the borrower, a joint venture between San Francisco-based Brick & Timber and Philadelphia-based Argosy Capital Partners. JP Morgan provided the five-year, fixed-rate loan, which features interest-only payments for the full term.
SCOTTSDALE, ARIZ. — Newmark has arranged the sale of The Block at Pima Center, a multi-tenant retail property in Scottsdale. Block East LLC and Block West LLC sold the asset to New Block 22 LLC for $23.5 million. Located at the northwest corner of Via De Ventura and Arizona State Route 101, The Block at Pima Center features 37,958 square feet of retail space that was fully leased at the time of sale. Current tenants include Starbucks Coffee, Dickey’s Barbecue Pit, Mayweather Boxing + Fitness and Spinato’s. The property features several full-service restaurants with patios, fast-casual dining options, health and fitness tenants, and personal care services. Jesse Goldsmith, Steve Julius and Chase Dorsett of Newmark represented the seller in the transaction.
