HOUSTON — Berkadia has negotiated the sale of Broadstone Memorial, a 401-unit apartment community in Houston’s Energy Corridor area. Built in 2007, Broadstone Memorial offers one-, two- and three-bedroom apartments ranging in size from 628 to 1,766 square feet. Units feature granite or quartz countertops, walk-in closets and full-sized washer and dryers. Amenities include a pool, clubhouse, coffee bar, business center, game room, spin room, outdoor grilling stations, a dog park and package lockers. Todd Marix, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel and Kyle Whitney of Berkadia represented the seller, Boston-based AEW Capital Management, in the transaction. Andy Hill and Tyler Nowlin of Berkadia arranged acquisition financing through an international bank on behalf of the buyer, South Florida-based Atlantic | Pacific Cos.
HOUSTON — Fort Worth-based investment firm Fort Capital has purchased two industrial properties in Houston totaling 322,475 square feet. Haynes-Theall Industrial Park is a 197,400-square-foot development on the city’s north side that was 97 percent leased at the time of sale to 36 tenants. Harwin Business Park, located on the southwestern side of Houston, spans 125,075 square feet and was 98 percent leased at the time of sale. The seller and sales price were not disclosed.
COLLEGE STATION, TEXAS — Houston-based retail investment and management firm Levcor has acquired two shopping centers totaling 184,000 square feet in College Station. University Park is a grocery-anchored center that comprises 97,000 square feet on a 9.2-acre site that is within one mile of Texas A&M University’s campus. Texas Avenue Crossing, located about 2.5 miles from campus, totals 87,000 square feet and is anchored by Bed Bath & Beyond, with Total Wine & More and Boot Barn set to join the roster this summer.
NEWTOWN, CONN. — New Jersey-based investment firm First National Realty Partners (FNRP) has acquired Sand Hill Plaza, a 163,500-square-foot shopping center located in the southern Connecticut community of Newtown. A 61,450-square-foot Stop & Shop grocery store anchors the center, which originally opened in 1990 and also houses tenants such as T.J. Maxx, Mattress Firm, Verizon, Great Clips and Quest Diagnostics. Justin Smith and Chris Peterson of Atlantic Capital Partners represented the undisclosed seller in the transaction.
MASSAPEQUA, N.Y. — Breslin Realty, a Long Island-based investment firm, has acquired Massapequa Plaza, a 50,000-square-foot shopping center in Nassau County. Tenants at the center include Costello’s Ace Hardware, Rite Aid, Northwell Health GoHealth Urgent Care, Great American Jewelry, Pequa Spirits Wine & Liquor, Gino’s Tuscany Restaurant, Sal’s Meat Market, Three Amigos Fresh Mexican Grill and Fit Body Boot Camp. The seller and sales price were not disclosed.
NORTH RIVERSIDE AND ELMHURST, ILL. — Mid-America Real Estate Corp. has brokered the sale of two shopping centers in suburban Chicago for an undisclosed price. North Riverside Plaza is a 384,707-square-foot regional shopping center in North Riverside. Tenants include Kohl’s, Burlington, Best Buy, Petco, Michaels and a new grocery store that is currently under construction. Elmhurst Crossing is a 347,505-square-foot, grocery-anchored shopping center in Elmhurst. Major tenants include Whole Foods Market, Kohl’s, At Home and Petco. Ben Wineman and Kathryn Sugrue of Mid-America represented the longtime owner and seller, Canada-based Federal Construction. Brixmor Property Group was the buyer.
MENOMONEE FALLS, WIS. — Founders 3 Real Estate Services has arranged the $4.3 million sale of a 70,000-square-foot industrial building in Menomonee Falls, a northwest suburb of Milwaukee. The property is located on Woodale Drive. Bob Flood of Founders 3 represented the seller, Kohl’s Inc. Dynamic Tool Corp., which builds plastic injection molds for the packaging, personal care and healthcare industries, was the buyer.
MOUNT SHASTA, CALIF. — One Shasta LLC has purchased a 266-acre property in Mount Shasta. Crystal Geyser Water Co. sold the asset for $7.1 million. The property comprises industrial, low-intensity agriculture and residentially zoned land in Siskiyou County, Calif. Additionally, the acquisition includes a 144,900-square-foot industrial building at 210 Ski Village Drive. The building offers dock-high access and proximity to Interstate 5. John Troughton and Adam Elomari of Kennedy Wilson Brokerage represented the buyer in the deal.
ARVADA, COLO. — Evans Senior Investments (ESI) has arranged the sale of The Kipling Meadows, a 120-unit independent living community in the first-ring Denver suburb of Arvada. Built in 2008 with a renovation in 2018, Kipling Meadows averaged 86 percent occupancy in the three months prior to sale. “With the community recently recovering occupancy back to 90 percent in just the latest month, the Evans Senior Investments team was able to showcase the potential upside for a new ownership group by forecasting a 6 percent rental rate increase,” says Hank Fuller, senior associate with ESI. ESI represented the seller, an institutional private equity group, in the transaction. The buyer was regional operator looking to expand in Colorado. The price was not disclosed.
COMMERCE CITY, COLO. — Blue West Capital has arranged the $3.4 million sale of a single-tenant retail property in Commerce City, approximately six miles northeast of downtown Denver. Brandon Gayeski and Robert Edwards of Blue West Capital represented the seller, a Colorado-based partnership. The buyer was a 1031 exchange investor based in Colorado. The 2,340-square-foot property features a drive-thru and was constructed in 2020. Located at 4860 East 60th Ave., Starbucks Coffee occupies the property on a long-term lease.