ANNA, TEXAS — PC5 Properties, a holding company of HOLT CAT, an authorized dealer of products by construction machinery manufacturer Caterpillar, has acquired Anna Business Park. The 82-acre industrial development is located about 60 miles north of Dallas. Located at the northeast corner of the Collin County Outer Loop and State Highway 5, the site can support more than 3 million square feet of industrial development. The Anna Economic Development Corp. and the Anna Community Development Corp. sold the property for an undisclosed price.
DALLAS — Austin-based investment firm Long View Equity has acquired Preston Grove, a 111,286-square-foot office park in Dallas. The three-building complex is situated on a seven-acre site on the city’s north side. Steve Simon, Steve Rowland and Chris Lipscomb of Transwestern represented the seller, Reserve Capital Partners, in the transaction. Additional terms of sale were not disclosed.
STAMFORD, CONN. — CBRE has brokered the $72 million sale of 400 Atlantic Street, a 508,043-square-foot office building in the downtown area of Stamford, about 40 miles outside of New York City. At the time of sale, 400 Atlantic Street was 30 percent leased. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer and Travis Langer of CBRE, in collaboration with Meredith LaPier of Advisory and Transaction Services, represented the seller, an affiliate of Charter Communications Inc., in the transaction. Charter Communications also previously used the 14-story building as its global headquarters but has since relocated to an 875,000-square-foot campus at 400 Washington Blvd. CBRE also procured the buyer, a partnership between George Comfort & Sons and AVG Partners, which plans to implement a value-add program.
CHICAGO — Marcus & Millichap has brokered the sale of 7100 South Shore Drive, a 164-unit multifamily property in Chicago’s South Shore neighborhood. The sales price was undisclosed. Originally constructed in 1923, the building has received updates in recent years such as the addition of Amazon Hub lockers, gated parking and a fitness center. Ryan Engle, Andrean Angelov and Zack Mahoney of Marcus & Millichap represented the seller, Morgan Properties, and procured the buyer, James Oppenheimer of New City Property Management. The buyer plans to update common areas, including renovating and repurposing the building’s vacant ballroom.
NEW BALTIMORE, MICH. — Dominion Real Estate Advisors has brokered the sale of a 14,500-square-foot industrial building in New Baltimore, about 37 miles northeast of Detroit. The sales price was undisclosed. The property, located at 51528 Industrial Drive, previously served as the corporate home of Flood and Fire Solutions Inc. Andrew Boncore of Dominion represented the seller, 2CM Investments LLC. Mathew Cole of L. Mason Capitani CORFAC International represented the buyer, Jennifer Bethany LLC, which will use the facility to expand its health and beauty skincare products business.
PERU, ILL. — Cawley Chicago has arranged the sale of a 3,600-square-foot retail building located at 1320 38th St. in Peru, about 60 miles north of Peoria. The sales price was undisclosed. Jon Chamlin of Cawley Chicago represented the seller, the Stark family. Kevin Schultz of Newmark represented the buyer, Stash Holding LLC, which is a cannabis dispensary group. Jimmy John’s previously occupied the property.
LONGMONT, COLO. — Cantamar Apartments Associates has purchased a 126-unit multifamily property at 2205 Alpine St. in Longmont. An entity formed by DHI Communities sold the asset for $50 million. The buyer has renamed the 126-unit property as Alpine Prairie Village. Alpine Prairie Village features one-, two- and three-bedroom apartments with quartz countertops, multiple closets and modern lighting. Community amenities include open spaces; a game lounge with private seating and shuffleboard; outdoor gaming area with corn hole and ladder golf; fitness center; outdoor bar and grill; hot tub; pet spa; and co-working space with private offices. David Fogler and Steven Nicoluzakis of Cushman & Wakefield’s Multifamily Advisory Group represented the buyer in the transaction.
LAGUNA HILLS, CALIF. — Cape Point Development has acquired La Paz Village, a neighborhood shopping center in Laguna Hills. A consortium of private investors sold the asset for $23.5 million. Built in 1974 and refurbished in 2012, La Paz Village features 54,566 square feet of retail space. Bill Rose of Institutional Property Advisors, a division of Marcus & Millichap, along with Steven Siegel, Glen Kunofksy and Anthony D’Ambrosia of Marcus & Millichap represented the seller, while Rose procured the buyer in the deal. Damon Wyler of Marcus & Millichap served as broker of record in California.
FLAGSTAFF, ARIZ. — Marcus & Millichap has arranged the sale of Canyon 66 Plaza, a retail property located at 1416 E. Route 66 in Flagstaff. A limited liability company sold the asset to an undisclosed buyer for $11.8 million. Nick Christifulli, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller, while Ruble and Lind procured the buyer in the deal. Currently being remodeled, Canyon 66 Plaza features 50,606 square feet of retail space.
ISSAQUAH, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Bentley House, an apartment building in Issaquah. Terms of the transaction were not released. Built in 2009, apartments at Bentley House feature hardwood floors, stainless steel appliances, fireplaces and air conditioning. Community amenities include a rooftop deck, resident clubhouse, business center and fitness center. Philip Assouad and Giovani Napoli of IPA represented the seller and procured the buyer in the deal.