OMAHA, NEB. — Investors Realty has brokered the sale of a 123,664-square-foot retail property in Omaha for $21.4 million. Located at the intersection of 72nd and Pacific streets, the asset is home to Aldi, Cavender’s and Kohl’s. Ember Grummons of Investors Realty represented the seller, NewStreet Properties. Jason Taylor of Equity Management Group represented the buyer, Caller Properties.
NAPERVILLE, ILL. — Physician Real Estate Capital Advisors (PRECAP) has arranged the sale of a 19,900-square-foot building in Naperville for $15.2 million. Constructed in 2008 and located at 1243 Rickert Drive, the property is home to Suburban Gastroenterology and Midwest Endoscopy Center. In 2020, the endoscopy center underwent a 6,800-square-foot expansion and renovation. Scott Niedergang of PRECAP represented the seller, a physician partnership, and procured the buyer, a privately held company specializing in healthcare real estate acquisitions.
NEW BRIGHTON, MINN. — Clear Height Properties has acquired Rush Lake Business Park in New Brighton, a northern suburb of Minneapolis. The purchase price was undisclosed. The industrial property consists of two buildings totaling 79,028 square feet that are 87 percent leased. Harrison Wagenseil and Erik Coglianese of Transwestern represented the undisclosed seller. Transwestern will also handle leasing on behalf of Clear Height. The transaction marks the first acquisition in Minnesota for Oak Brook, Ill.-based Clear Height.
PLANO, TEXAS — Chicago-based investment firm Waterton has acquired Mission Gate, a 434-unit apartment community in Plano. Built on 24 acres in 1999, Mission Gate features one-, two- and three-bedroom units with an average size of 965 square feet across 13 buildings. Amenities include a pool, outdoor grilling stations, a playground and a dog park. Waterton plans to invest in capital improvements to unit interiors and common areas. The seller and sales price were not disclosed.
LUBBOCK, TEXAS — Texas-based brokerage firm Independence Commercial Advisors has negotiated the sale of Poka Lambro Shopping Center, a 37,500-square-foot retail property in Lubbock. Built on 4.9 acres in 1983, the property includes outparcels that house a Wells Fargo ATM and a recently renovated Burger King. Richard Mireles of Independence Commercial Advisors represented the undisclosed seller and procured the buyer, Texas-based NetCo Investments Inc., in the transaction.
NEW YORK CITY — Locally based investment firm DIB Development Group has acquired a roughly 100,000-square-foot industrial property in Brooklyn’s Sunset Park neighborhood for $19.9 million. The four-story complex was originally constructed in 1917 and is located across the street from the Brooklyn Army Terminal. Gary Mayzlin of Real Estate Trade Co. Inc. represented the seller, Deitsch Realty, in the transaction.
BROOKLAWN, N.J. — SRS Real Estate Partners has brokered the $8.8 million sale of a 1.5-acre retail property in the Southern New Jersey community of Brooklawn. The site houses a 4,950-square-foot structure that was built in 2019 and is leased to convenience store operator Wawa. Britt Raymond, Kyle Fant and Sabrina Kortlandt of SRS represented the seller, a New York-based hotelier, in the transaction. Winston Guest, also with SRS, represented the buyer, a California-based 1031 exchange investor.
RIVERSIDE, CALIF. — CBRE has arranged the sale of Metro 3610, a value-add apartment community located at 3610 Banbury Drive in Riverside. La Palma, Calif.-based Silver Star Real Estate acquired the asset for an undisclosed price. Dean Zander and Stewart Weston of CBRE represented the undisclosed sellers in the deal. Built in 1984 on 15.2 acres, Metro 3610 features 304 apartments; two swimming pools with a spa and wading pool; tennis courts; a resident clubhouse; fitness center; and open green space with picnic areas, grilling stations and a playground. Apartments feature kitchens with a complete appliance package, air conditioning, walk-in closets and washers/dryers in two-bedroom floorplans.
CATHEDRAL CITY, CALIF. — Matthews Real Estate Investment Services has brokered the all-cash sale of a vacant big box retail building in Cathedral City. Andrew Gross and Lee Cordova represented the undisclosed seller in the deal. The name of the buyer and acquisition price were not released. Located at 35900 Date Palm Drive, the asset spans 80,000 square feet. The retail space sits on a 262,000-square-foot lot near an Amazon facility, gym and bank.
PHOENIX — ABI Multifamily has arranged the sale of Village 28, a multifamily property located at 4750 N. 28th St. in Phoenix. A Washington-based seller sold the asset to a Washington-based buyer for $9 million, or $361,000 per unit. Built in 1969 and renovated in 2018, Village 28 consists of 25 garden-style, two-bedroom/one-bath units with private patios and in-unit washers/dryers. John Klocek, Patrick Burch, Mitchell Drake, Carson Griesemer and Dallin Hammond of ABI Multifamily represented both parties in the transaction.
