LINCOLN, NEB. — CBL Properties has acquired Gateway Mall in Lincoln for $43.5 million from Washington Prime Group. CBL financed the acquisition with a $21 million loan provided by Symetra Life Insurance Co. The five-year loan features a fixed interest rate of 6.46 percent. The property totals roughly 843,000 square feet. Anchor tenants include Dillard’s, JC Penney, Dick’s Sporting Goods, Round 1, H&M, Ulta, Ross Dress for Less, Sierra, Tesla and Total Wine & More. In a separate transaction, CBL has entered into a contract for the sale of an open-air center at an approximately 8 percent capitalization rate. The transaction is expected to generate net proceeds after debt repayment of $25 million and is anticipated to close in April.
CARMEL, IND. — CBRE has brokered the sale of Village Park Plaza, a 290,016-square-foot shopping center in the Indianapolis suburb of Carmel. CBRE’s National Retail Partners Midwest team represented Washington Prime Group in the sale of the property to Pine Tree, which acquired the asset in partnership with a state pension fund. Tenants include Kohl’s, Hobby Lobby, Ross Dress for Less, Ulta and Dollar Tree. The property was 99 percent leased at the time of sale.
PLAINVILLE, CONN. — Locally based brokerage firm O,R&L Commercial has negotiated the $2.7 million sale of a 36,000-square-foot industrial building in Plainville, located southwest of Hartford. The building at 7 Johnson Ave. was fully leased at the time of sale to two tenants: M&S Building Systems and World Fulfillment. Jay Morris of O,R&L represented the seller in the transaction, and David Murdock of Sentry Commercial represented the buyer. Both parties were limited liability companies that requested anonymity.
VAN NUYS, CALIF. — CIRE Equity has purchased Roscoe Woodley North LA Industrial Campus, a fully leased industrial property in Van Nuys. Terms of the transaction were not disclosed. Located at 8201-8221 Woodley Ave. and 16200 Roscoe Blvd., the campus offers 307,883 square feet of industrial space spread across two buildings and a 7.4-acre M2-zoned yard on 19 acres. The property features 16 dock-high doors, six ground-level doors and a clear height of 28 feet in the main warehouse, as well as abundant parking, modern power infrastructure and flexible industrial configurations. Michael Longo, Eric Cox and Bennett Robinson of CBRE represented the confidential seller in the transaction.
CASHMERE, WASH. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a seniors housing community located in Cashmere in central Washington. Situated on roughly 1.5 acres, the community comprises 42 units. A regional owner-operator seeking to expand its footprint in the state acquired the property for an undisclosed price. The seller was a local owner-operator exiting the industry. Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of SLIB brokered the transaction.
TEXAS CITY, TEXAS — Florida-based real estate private equity firm Eastham Capital has sold Veranda, a 200-unit apartment complex in Texas City, a southeastern suburb of Houston. Veranda offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, clubhouse, basketball court and a movie theater. Eastham acquired the property in 2018 in a joint venture with Mosaic Residential and subsequently implemented capital improvements. The buyer and sales price were not disclosed. Veranda was 95 percent occupied at the time of sale.
NORTH RICHLAND HILLS, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of a 124,380-square-foot industrial building in North Richland Hills, a northeastern suburb of Fort Worth. The building was developed in 1981 on an 11-acre site at 6550 Wuliger Way and includes 12,500 square feet of office space. Luke Clardy of Bradford represented the buyer and future occupant, Sunair Products, a wholesale distributor of air conditioning components, in the transaction. Will Carney and Brad Balke of KBC Advisors represented the undisclosed seller.
EULESS, TEXAS — A partnership between California-based investment firm Birtcher Anderson & Davis and Baltimore-based ABR Capital Partners has purchased a 50,112-square-foot industrial park in Euless, located near DFW International Airport. The property is known as Airport Circle Business Park and offers 14 suites. Rich Young Jr. of Rich Young Co. represented the undisclosed seller in the transaction.
FLORIDA, N.Y. — Amazon has purchased a 143-acre industrial development site in Florida, located about 65 miles northwest of New York City near the New York-New Jersey border. The fully entitled site is located along State Highway 5 and has all major utilities already in place. Amazon did not announce specific development plans for the site, but the facility will be known as Mohawk Valley Industrial Center. Jim Panczykowski of JLL led a team that marketed the site on behalf of the seller, regional investment and development firm Winstanley Enterprises.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of 3030 North Broadway, a Mariano’s-anchored retail property serving Chicago’s Lakeview and Lincoln Park neighborhoods. Additional tenants at the five-story, 131,748-square-foot asset include Club Studio, PNC, Starbucks and Fresh Dental. Ben Wineman and Joe Girardi of Mid-America represented the seller, SITE Centers. The buyer was L3 Capital.