SCHAUMBURG, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 13,500-square-foot retail center in the Chicago suburb of Schaumburg for $5.6 million. Located on East Golf Road, the property is fully leased to Panda Express, Batteries Plus, Crumbl Cookies, Jersey Mike’s Subs, Oreck Vacuums, H&R Block, Rosati’s Pizza and Little Greek. Jason Lenhoff of Quantum represented the buyer, a Florida-based private investor. A locally based investor was the seller.
MAPLEWOOD, MINN. — NAI Legacy has arranged the sale of a Raising Cane’s Chicken Fingers ground lease in Maplewood near Minneapolis for $3.4 million. The ground lease for the newly constructed, single-tenant property is for 15 years. The building is located at 3065 White Bear Ave. Michael Houge of NAI Legacy represented the undisclosed seller, while Ken Tsukahara of Colliers represented the California-based buyer. Raising Cane’s operates more than 600 restaurants across the U.S.
HOUSTON — Walker & Dunlop has arranged the sale of The Flats at West Alabama, a 304-unit apartment community in Houston’s River Oaks neighborhood. The property, which according to Apartments.com was built in 2021, offers one-, two- and three-bedroom units and amenities such as a pool, coworking spaces, a club area with an entertainment kitchen and a rooftop deck. Ryan Epstein and Jennifer Ray of Walker & Dunlop represented the seller, Atlanta-based Wood Partners, in the transaction. Alexandra Huffman, also with Walker & Dunlop, originated Fannie Mae acquisition financing of behalf of the buyer, Virginia-based Capital Square.
CARROLLTON, TEXAS — Newmark has brokered the sale of a 10,874-square-foot, single-tenant retail property in the northern Dallas suburb of Carrollton that is net leased to Just Tires. Matt Berres, Samer Khalil, Karick Brown and Lispah Hogan of Newmark represented the seller in the transaction. Douglas Kim of Tru Promise Real Estate represented the buyer. Both parties were private investors that requested anonymity.
BEDFORD, MASS. — Newmark has brokered the $132 million sale of One Patriots Park, a 143,553-square-foot life sciences complex in Bedford, a northwestern suburb of Boston. The seller, Jumbo Capital Inc., redeveloped the property in 2019 to support life sciences users. At the time of sale, four such tenants — Homology Medicines Inc., N2 Biomedical, Frontera Therapeutics and Obsidian Therapeutic — occupied the entirety of the facility. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented Jumbo Capital and procured the buyer, Barings, in the transaction.
SALT LAKE CITY AND AMERICAN FORK, UTAH — Gardner Batt has completed the disposition of a 347,290-square-foot, Class A industrial portfolio near Salt Lake City to a joint venture between Greenlaw Partners and Mirae Asset Global Investments for $187.7 million. Jeff Chiate, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group, along with Tom Freeman and Travis Healey of Cushman & Wakefield’s Salt Lake City office, represented the seller in the transaction. The portfolio consists of a 201,096-square-foot facility situated on 56 acres at 989 W. Center St., which was delivered in 2021, and a 146,194-square-foot property at 398 E. 1100 South St. in American Fork, which was delivered in 2020. Both facilities feature 40-foot clear heights, excess van/trailer parking, ample loading and ESFR sprinklers. The last-mile facilities are both fully leased to a Fortune 10 global e-commerce company.
BURIEN, WASH. — NewPoint Real Estate Capital has provided an $86.6 million Freddie Mac floating-rate loan to facilitate the purchase of Alcove at Seahurst on behalf of an affiliate of Harbor Group International. Constructed in 1948, the garden-style Alcove at Seahurst features 44 residential buildings spread across 36 acres at 14001 Ambaum Blvd. SW. The community features 543 units in a mix of one-, two- and three-bedroom apartments with fully equipped kitchens, washers/dryers and architectural built-ins. Community amenities include a playground, coffee bar, fitness center, business lounge and grilling and picnic areas. The seven-year Freddie Mac loan features an interest-only period of five years, providing Harbor with the flexibility to execute a value-add renovation.
SAN DIEGO — FPA Multifamily has completed the sale of ReNew Mills, an apartment property in Ontario. San Diego-based Interwest Capital Group acquired the asset for $45.6 million. Located at 551 E. Riverside Drive on 8.8 acres, ReNew Mills features 142 apartments, a fitness center, resident clubhouse with a pool table and lounge, dog park and resort-style pool and spa. The units feature large closets, vaulted ceilings, air conditioning, fireplaces and private balconies. Dean Zander and Stewart Weston of CBRE represented the seller in the transaction.
MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Talise, a multifamily community in Mesa. Terms of the transaction were not released. Located along Gilbert Road and University Drive, Talise features 388 apartments in a mix of open-concept floor plans with well-appointed kitchens, full-size washers/dryers, walk-in closets and private patios or balconies with exterior storage. Select apartments have vaulted ceilings, fireplaces and built-in bookshelves. Community amenities include three resort-style swimming pools, a spa, business center, fitness center and mailroom. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the transaction.
DENVER — NAI Shames Makovsky has arranged the sale of an industrial building located at 4429-4477 Glencoe St. and 4444-4488 Forest St. in Denver. I-70 Glencoe Forest RLLP sold the property to Home Silk Shop for $8.4 million. The property features 53,167 square feet of industrial space. Sandy Feld of NAI Shames Makovsky represented the seller, while Michael Bloom and Matt Dorsten of Michael Bloom Realty Co. represented the buyer in the deal.
