VOORHEES, N.J. — New Jersey-based First National Realty Partners (FNRP) has acquired Eagle Plaza, a 227,000-square-foot shopping center in Voorhees, located in the southern part of the Garden State. A 66,500-square-foot Acme grocery store anchors the center. Other tenants include Ross Dress for Less, Wine Warehouse, Mattress Firm, T-Mobile, Chipotle, H&R Block, Allstate, Sherwin-Williams and South Jersey Federal Credit Union. Brad Nathanson of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.
SAINT FRANCIS, WIS. — JLL Capital Markets has brokered the $15.1 million sale of Whitnall Square in Saint Francis, just south of Milwaukee. Pick ’N Save anchors the 133,421-square-foot shopping center, which was constructed between 1989 and 1991. Other tenants include Petco, Planet Fitness, Harbor Freight Tools, Metro PCS, Dollar Tree, Subway, H&R Block, Bangkok House Restaurant, Hariport, Papa Murphy’s Pizza and P.T. Nails. The center is 96 percent leased. Amy Sands, Clinton Mitchell, Michael Nieder and Jaime Fink of JLL represented the seller, Newport Capital Partners, and procured the buyer, Savitar Realty Advisors.
PORTAGE, IND. — Greenstone Partners has negotiated the $8.2 million sale of a 52,798-square-foot industrial building in Portage, a city in northwest Indiana. Completed in June 2021, the building is named The Diversey at AmeriPlex and is situated within AmeriPlex at the Port, a 385-acre industrial park. Tenants at the property include Fagor Arrasate, Johnson Brothers, Shorebags and Dream Big Gymnastics. Jason St. John of Greenstone represented the seller, Indiana-based developer Holladay Properties, and procured the West Coast-based buyer.
CHICAGO — Kiser Group has brokered the sale of a 21-unit apartment building in Chicago’s East Rogers Park neighborhood for $3.2 million. The property is located at 1237 W. Morse Ave. and includes 14 one-bedroom units and seven two-bedroom units as well as nine parking spaces. Danny Logarakis of Kiser represented the seller, who had owned the property for more than two decades and completed upgrades. Logarakis also represented the undisclosed buyer, who is expected to renovate units and increase rents.
ARLINGTON, VA. — Cortland, an Atlanta-based multifamily investment firm, has purchased four apartment communities in Arlington totaling more than 1,500 units. The $1 billion investment marks the firm’s re-entry into the Washington, D.C., metro area, and the firm says it plans to “double its investment in the area” in the near future. “Northern Virginia is a highly coveted location that is already seeing a rebound in growth as residents move back to the urban core,” says Mike Altman, chief investment officer at Cortland. “This is just the start of Cortland’s investment in the region.” The portfolio includes Aubrey, a 331-unit apartment community that will be rebranded as Cortland Rosslyn, and Aura Pentagon City, a 534-unit apartment community to be renamed Cortland Pentagon City. The other two Arlington communities are undisclosed as those sales have yet to close, though the firm says they will be announced soon. “The combination of these investments allows us to gain a strong foothold in the region at a strategic time based on our proprietary analysis of market trends,” says Altman. Cortland Rosslyn is a LEED Gold-certified community that was developed in 2021 by Penzance. The 23-story community offers studios to three-bedroom homes, as well as …
BRIDGEVILLE, PA. — Marcus & Millichap has brokered the $30 million sale-leaseback of a 346,009-square-foot industrial facility in Bridgeville, a southern suburb of Pittsburgh. Built on 31 acres in 1980, the four-building property features clear heights of 11 to 28.5 feet, 26 dock-high doors and five grade-level doors. Adam Abushagur of Marcus & Millichap represented the seller, a sister company of the tenant, IT firm Black Box Corp., in the transaction. Abushagur also procured the buyer, Spirit Realty Capital.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $22.5 million sale of a 96-unit multifamily building located in the Morris Heights area of The Bronx. Constructed in 2004, the building rises 13 stories and spans 93,430 square feet. The unit mix comprises one studio, 22 one-bedroom apartments and 73 two-bedroom residences. Daniel Mahfar, Victor Sozio and Shimon Shkury of Ariel Property Advisors brokered the deal. The buyer and seller were not disclosed.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of Elston Logan Plaza in Chicago’s Elston Corridor for $29.2 million. Anchored by HomeGoods, the shopping center spans 56,080 square feet. Additional tenants include Chipotle, Potbelly Sandwich Shop, Forever Yogurt, David’s Bridal, Verizon, T-Mobile and The Vitamin Shoppe. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Novak Construction Co. Newport Capital Partners was the buyer.
CHICAGO — NAI Hiffman has negotiated the sale of a 225,000-square-foot refrigerated warehouse in Chicago’s Back of the Yards neighborhood as well as the business occupying the facility, Ashland Cold Storage. The sales price was undisclosed. The buyer, Karis Cold, has engaged Artico Cold Storage to assume the facility’s operations. The property is located at 1556 W. 43rd St. within Chicago Stockyards Industrial Park. John Basile of NAI Hiffman and Jay Maher of Nelson Hill represented Karis Cold, which focuses exclusively on the cold storage industry.
WISCONSIN — JLL Capital Markets has arranged the sale of a four-property medical office portfolio in Wisconsin totaling 111,827 square feet for an undisclosed price. The properties are located in Glendale, Oak Creek, Mt. Pleasant and Green Bay. The portfolio is 98 percent leased. Tenants include Children’s Wisconsin, Hospital Sisters Health System, Ascension and Advocate Aurora Health Care. Evan Kovac, Mindy Berman, Tim Joyce, Matt DiCesare, Trent Jemmett and Jamie Fink of JLL represented the seller, Chicago-based Stage Equity Partners. Big Sky Medical was the buyer.