DENVER — Marcus & Millichap has negotiated the sale of a multi-tenant industrial property located at 1221 E. 56th Ave. in Denver. The sales price was undisclosed. Alyssa Tomback of Marcus & MIlichap’s Denver office represented the seller and buyer, both of which were private investors who requested anonymity, in the transaction. At the time of sale, the 36,300-square-foot property was fully occupied by multiple tenants.
HOUSTON — JLL has negotiated the sale of One Park 10 Plaza, a 162,919-square-foot office building in Houston’s Energy Corridor area. The eight-story building is located within the 550-acre Park 10 master-planned development and was 76 percent leased at the time of sale. The property includes a 560-space parking garage. Marty Hogan and Kevin McConn of JLL represented the seller, Florida-based investment firm Accesso Partners, in the transaction. Houston-based private equity firm Interra Capital Group purchased the building, which has received more than $ 1 million in capital improvements over the last decade, for an undisclosed price.
AUSTIN, TEXAS — San Antonio-based investment firm Embrey has acquired Arboretum Oaks, a 252-unit apartment community in northwest Austin. Embrey acquired the property in partnership with Black Salmon Capital from an undisclosed seller. The property features one- and two-bedroom units and amenities such as a pool, fitness center, pet park, business center, clubroom, laundry facilities and a package handling system. Matt Pohl and Spencer Roy of Walker & Dunlop brokered the sale. Patrick Short and Tom Toland, also with Walker & Dunlop, arranged acquisition financing for the deal through global investment management firm Heitman LLC. The new ownership plans to implement a value-add program.
SLIDELL, LA. — A partnership between The Woodmont Co. and The Criterion Fund has acquired Village at Northshore, a 144,638-square-foot shopping center located at 105-115 Northshore Blvd. in Slidell. The sales price was not disclosed. Situated adjacent to I-12, the property was developed in 1988 and renovated in 2020. The retail center’s tenant roster includes Marshalls, JoAnn’s, Ollie’s Bargain Outlet, Boot Barn and Dollar Tree. Shadow anchors include Walmart Supercenter, Sam’s Club, The Home Depot and Aldi. SRS Real Estate Partners represented the seller, Atlanta-based RCG Ventures, in the transaction. Woodmont was self-represented. Andy Thelen of Woodmont worked with Louisiana National Bank to secure a loan for the acquisition. David Adams and Jake McCoy will oversee leasing at Village at Northshore for Woodmont on an internal basis.
WHITEVILLE, N.C. — Walgreens Boots Alliance has purchased one of its stores in Whiteville, a town equidistant from coastal markets Myrtle Beach, S.C., and Wilmington, N.C. Located at 803 N. JK Powell Blvd., the 14,820-square-foot property sold for approximately $5 million. According to brokerage firm Newmark, the drug store retail giant exercised its right of first refusal in purchasing the store, which has 10.1 years remaining on its triple-net lease. Walgreens signed the 25-year lease at the store in 2006. Matt Berres, Samer Khalil and Karick Brown of Newmark represented the seller, an undisclosed institutional investment firm based in Phoenix, in the transaction. Other single-tenant transactions this Newmark team has brokered recently include a $2.3 million sale of a medical office property in Cartersville, Ga., leased to Northwest ENT and Allergy Center and a $1.4 million sale of a store in Morgantown, Ky., leased to Advance Auto Parts. Deerfield, Ill.-based Walgreens operates approximately 18,500 retail locations worldwide, more than half of which are in the United States.
MCKINNEY, TEXAS — Dallas-based brokerage firm SHOP Cos. has arranged the sale of Custer Village, a 17,740-square-foot retail center located in the northern Dallas suburb of McKinney. The center was fully leased at the time of sale to tenants such as Original ChopShop, Clarity Eye Care, PetBar and YogaSix. Tim Axilrod of SHOP Cos. represented the seller, a locally based limited liability company, in the transaction. CoSol Commercial Real Estate represented the undisclosed, California-based buyer.
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.