JOLIET, ILL. — Berengaria Development has purchased Joliet Commons, a 228,394-square-foot, regional shopping center in Joliet. The purchase price was undisclosed. The property is home to Dick’s Sporting Goods, Barnes & Noble, Party City, JoAnn, PetSmart, DSW, Ross Dress for Less and Old Navy. CBRE’s National Retail Partners team represented the seller, a joint venture between Pine Tree and DRA Advisors.
PARAMUS, N.J. — Locally based brokerage firm Jeffery Realty has negotiated the sale of a 53,000-square-foot industrial building located at 404 Sette Drive in the Northern New Jersey community of Paramus. New Jersey-based investment firm The STRO Cos. purchased the property from an unnamed seller for an undisclosed price. Bill Farkas of Jeffery Realty brokered the deal.
GREAT FALLS, MONT. — Catalyst Healthcare Real Estate and National Real Estate Advisors have purchased Great Falls Clinic Campus, a three-building healthcare portfolio in Great Falls. Terms of the transaction were not released. Totaling 244,500 square feet, the campus currently consists of a surgical hospital, ambulatory surgery center with four operating rooms and a medical office building. The surgical hospital is undergoing a 58,800-square-foot expansion that will increase the number of in-patient and ICU beds while enhancing other inpatient services. The 108,000-square-foot medical office building is attached to the surgical hospital and provides a variety of services, including imaging, oncology and orthopedics. All three assets are master leased to the Great Falls Clinic and are strategically located to provide healthcare services to the central Montana region.
GREELEY, COLO. — InvenTrust Properties has completed the disposition of Centerplace of Greeley, a shopping center in Greeley, to Slate Grocery REIT for an undisclosed price. Safeway, Ross Dress for Less, Famous Footwear, Buckle, Bath & Body Works, Cold Stone Creamery, Bank of America, Sally Beauty, Tokyo Joe’s and Heartland Dental are tenants at the 152,000-square-foot retail center. Ryan Bowlby and Drew Isaac of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
SPOKANE, WASH. — Kidder Mathews has arranged the combined $5.5 million sales of two multifamily properties in Spokane. Max Frame of Kidder Mathews represented the undisclosed separate buyers in each transaction. The Lloyd, a multifamily property located on the corner of West Mansfield Avenue and North Monroe Street in Spokane, sold for $4.3 million. Built in 1911, the property features 33 residential units and four commercial units. The buyer plans to renovate the entire building. Built in 1910, The Annie features two buildings offering a total of 11 units. The property, which is located at 1022 W. Sinto Ave., sold for $1.2 million.
HOUSTON — JLL has brokered the sale of Market Square at Eldridge, a 262,556-square-foot retail power center located near the Energy Corridor area in West Houston. At the time of sale, the property was 98 percent leased to tenants such as Burlington, Michaels, Party City, PetSmart, Dollar Tree, HomeGoods, Bath & Body Works, Ulta Beauty, Cato, Old Navy and Office Depot. Chris Gerard, Ryan West, Erin Lazarus and Megan Babovec of JLL represented the seller, Walton Street Capital, in the transaction. Locally based investment firm Wu Properties purchased the center for an undisclosed price.
EULESS, TEXAS — Locally based investment firm Fort Capital has acquired a portfolio of 10 Class B industrial buildings totaling 226,663 square feet in Euless, located in the central part of the Dallas-Fort Worth metroplex. At the time of sale, the portfolio was 98 percent leased to a roster of 36 tenants in industries such as logistics, furniture and fabrication. All of the buildings were constructed between 1964 and 1985, with most construction dates trending toward the latter end of that range. The seller and sales price were not disclosed.
JERSEY CITY, N.J. — JLL has brokered the $31.9 million sale of Solaris Lofts, a 72-unit apartment complex located within the Bergen-Lafayette neighborhood of Jersey City. Built in 2019, the property features one-, two- and three-bedroom units and amenities such as a fitness center, dog park, resident lounge, coworking areas and an onsite grocery store and deli. Michael Oliver, Jose Cruz, Steve Simonelli, Kevin O’Hearn and Josh Stein of JLL represented the seller, PERE Holdings, in the transaction. The buyer was New York City-based Beachwold Residential.
STORRS, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $12.5 million sale of Orchard Acres, a 96-unit multifamily property in Storrs, home of the University of Connecticut. Built in 1963, the property is situated adjacent to the north end of campus and exclusively offers one-bedroom units. Tom Boyle of Chozick Realty represented the seller, a Massachusetts-based entity doing business as Orchard Acres Apartments LLC, in the deal. Steve Pappas with Chozick Realty represented the buyer.
FORT MYERS, FLA. — Marcus & Millichap has brokered the $49 million sale of The Brittany, a 320-unit affordable housing community located at 4050 Winkler Ave. in Fort Myers. Evan Kristol of Marcus & Millichap represented the seller, a private investment firm based in New York City, and procured the buyer, an entity doing business as Dominium Acquisition LLC. Built in two phases in 1999 and 2000, The Brittany features large floor plans ranging in size from 771 to 1,444 square feet, three-fourths of which are two-, three- and four-bedroom units. Amenities at the LIHTC property include a gated swimming pool with a large sundeck and cabanas, business center, fitness center, two playgrounds, basketball courts, a car wash and a community van. The new ownership will continue to operate The Brittany as affordable housing.
