HUMBLE, TEXAS — Colliers has brokered the sale of a 48,000-square-foot industrial facility in northeastern Houston suburb of Humble. The property comprises four buildings on a 3.3-acre site. Tom Condon Jr. of Colliers represented the seller, R.B. Machine Works, in the transaction. Patrick Swint of Knightsbridge Ventures represented the buyer, an entity doing business as 2407 Wilson LLC.
BROOKHAVEN, N.Y. — CBRE has brokered the $28.5 million sale of 5000 Corporate Court, a 264,482-square-foot office building in Brookhaven, located on Long Island. Tenants include the Internal Revenue Service and U.S. Citizenship & Immigration Service. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, Stuart MacKenzie, Travis Langer and Philip Heilpern of CBRE represented the seller, Office Properties Income Trust, in the transaction. CBRE also procured the buyer, Northpath Investments.
OVERLAND PARK, KAN. — JVM Realty Corp. has acquired The Vue, a 219-unit luxury apartment complex in the Kansas City suburb of Overland Park. Hunt Midwest sold the asset for an undisclosed price. Units at The Vue, located at 7201 W. 80th St., average 936 square feet. Completed in 2018, the six-story property includes 7,300 square feet of ground-floor retail space that is leased to tenants such as Parisi Coffee and Evolve Juicery & Kitchen. Amenities include a sundeck, fitness center, clubhouse, outdoor lounge and pet spa.
COUNTRYSIDE, ILL. — In a sale-leaseback transaction, MDH Partners has purchased a 78,490-square-foot industrial property in Countryside, about 18 miles southwest of Chicago. The sales price was undisclosed. The property is located at 5315 Dansher Road within Chicago’s North I-55 industrial submarket. Doug Pilcher of Cushman & Wakefield represented the seller and tenant, Sokol & Co., which is a food manufacturing company. Houston Hawley served as the acquisition lead for MDH.
ELGIN, ILL. — Chicago-based Martinez Produce & Seafood has expanded its Chicagoland footprint with the purchase of a 65,772-square-foot industrial facility in Elgin. The building, which features six truck docks and two drive-in doors, more than doubles the company’s footprint. Cory Kay and Mike DeSerto of Entre Commercial Realty represented Martinez Produce & Seafood, while Lee & Associates represented the seller. The sales price and seller were not provided.
PHOENIX — KB Investments has acquired Green Leaf Arts District, an apartment complex in Central Phoenix, for an undisclosed price. Located at 222 E. McDowell Road, the property features 280 units with nine-foot ceilings, gourmet kitchens, granite countertops, stainless steel appliances and modern cabinetry. Common area amenities include a two-story clubhouse with an upscale chef’s kitchen, a swim deck with a pool, spa and covered fireplace, a two-story fitness facility and outdoor yoga lawn and a gaming area with barbecue grills and fire pits. The community was built in 2017. Asher Gunter, Matt Pesch, Sean Cunningham, Austin Groen and Tyler Anderson of CBRE represented the seller, Green Leaf Capital Partners, in the transaction.
MARTINEZ, CALIF. — Newmark has negotiated the sale of Village Oaks, a 79,875-square-foot shopping center in Martinez. An undisclosed private family investor sold the asset to an institutional investment group for an undisclosed price. Situated on 7.9 acres at 1185 Arnold Drive, Village Oaks was 96 percent leased at the time of sale to tenants within the financial, medical, restaurant and service retail sectors. Grocer Lucky California and Rite Aid currently anchor the property. Nicholas Bicardo and Cheyne Bloch of Newark represented the seller in the transaction.
COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has brokered the sale of Brookside Apartments, an apartment building located at 418-432 E. Brookside St. in Colorado Springs. The asset traded for $6.6 million, or $170,000 per unit. Built in 1955, the building features 39 apartments. Michael Krebsbach and Kenny Clarke of Pinnacle represented the buyer in the deal.
LOUISVILLE, KY. — Middleburg Communities, a Vienna, Va.-based real estate investment, development, construction and management firm, has sold Vesta Derby Oaks, a 418-unit apartment community located at 3237 Utah Ave. in Louisville. Craig Collins and Austin English of Cushman & Wakefield | Commercial Kentucky, along with Travis Presnell and Mike Kemether of Cushman & Wakefield’s Multifamily Investment Sales Group, brokered the sale of the property. The buyer and sales price were not disclosed. Middleburg invested $17 million in an extensive renovation at Vesta Derby Oaks, including all new siding, windows, roofs, plumbing and HVAC and electrical systems, as well as improved sidewalks and landscaping. Interiors were also equipped with new Energy Star-rated appliances, LED lighting, cabinets, countertops, flooring, fixtures and finishes. Additionally, the property previously was 100 percent two-bedroom units, but Middleburg reconfigured the layouts for some units to now be one-bedroom apartments. At the time Middleburg acquired it, the property was approximately 15 percent occupied with most of the buildings in shell or uninhabitable condition. At the time of sale, Vesta Derby Oaks was 95 percent occupied.
CHATTANOOGA, TENN. — Los Angeles-based Haven Realty Capital, in a joint venture with funds managed by New York City-based Yieldstreet, has closed on the first phase of a $28.6 million acquisition of Hartman Hill, a 71-home build-to-rent (BTR) residential community in Chattanooga. The Haven-led joint venture will close on the remaining homes in phases over the next seven months. Hartman Hill is being developed on a 26-acre site at 5005 Dayton Blvd. in the Red Bank neighborhood, approximately eight miles north of downtown Chattanooga. At full buildout, the property will offer three- and four-bedroom homes ranging in size from 1,538 to 2,515 square feet. Each of the two-story homes will offer custom cabinetry with soft-close drawers, quartz countertops, tile backsplashes, stainless steel appliances, private backyards and direct access garages. Common area amenities will include a sports court, bark park and a pet washing station. The new ownership will maintain the landscaping for all homes and common areas.