TEMPE, ARIZ. — Taylor Street Advisors has arranged the sale of Wilson Studios, a multifamily property located at 110-114 S. Wilson St. in Tempe. A private, out-of-state investor acquired the property from a local private capital firm for $3.1 million, or $192,500 per unit. The buyer plans to renovate the 16-unit property, which is located less than a mile from Arizona State University. Brian Tranetzki and Anton Laakso of Taylor Street Advisors handled the transaction.
HOUSTON — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Tiffany Square, an 83-unit apartment complex in Houston. Tiffany Square was built in 1973 on a two-acre site, and its units have an average size of 874 square feet. Greg Miller of TMG represented the seller in the deal while Bryce Smith of TMG procured the buyer. Both parties requested anonymity.
TULSA, OKLA. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Arbors, a 20-unit assisted living community in Tulsa. The 15,688-square-foot property was built in 1997 on approximately two acres of land. The seller is a regional owner based in Tulsa. The buyer is an Oklahoma-based private owner. Jason Punzel and Nick Cacciabando of SLIB handled the transaction. Both parties requested anonymity.
NASHVILLE, TENN. — Monarch Alternative Capital LP has acquired an eight-acre development site in Nashville’s Midtown district for $110 million in partnership with locally based GBT Realty Corp. The site is currently zoned for 1.8 million square feet of mixed-use real estate. Currently home to Beaman Toyota and directly west of Interstates 40 and 65, the site provides immediate access to the Gulch, Music Row, Vanderbilt University and downtown Nashville. The site’s zoning allows for the possible development of residential, retail, hospitality and office use. Construction plans are still in the works and haven’t been released yet.
DALTON, GA. — Atlanta-based Tamarack Investments has bought 1505 Coronet Drive, a vacant 212,740-square-foot warehouse in Dalton. David Nixon and Rob Kruer of CBRE represented the seller, Victory Carpet, and procured the buyer. The sales price was not disclosed. Built in 1996, the building features 31-foot clear heights, 50-foot by 60-foot column spacing, 25 dock positions and 6,000 square feet of open-plan offices with floor to ceiling glass. Extensive renovations are already underway on the building. Upon completion, the facility will become the new home of Florida-based Q.E.P. Co. Inc., a global provider of flooring and flooring installation solutions.
NORCROSS, GA. — JLL Capital Markets has arranged the sale of Plaza 85 Business Park, a nine-building industrial, office and flex park totaling 191,526 square feet in Norcross. Dennis Mitchell, Matt Wirth, Britton Burdette, Mitchell Townsend and Bo Osgood of JLL represented the seller, Atlanta-based Elmo Enterprises LLC. Dallas-based Westmount Realty Capital LLC purchased the park for an undisclosed price. Plaza 85 Business Park is leased to 43 tenants and includes clear heights ranging from 12 to 18 feet, dock-high and drive-in doors and a combination of rear- and front-loading configurations. Since acquiring the property in 2020, Elmo Enterprises executed a property improvement plan that resulted in exterior and interior upgrades, new roofs on some buildings and office space. Situated on 13.8 acres at 5970-6040 Unity Drive, the property has immediate access to Interstate 85.
SAGINAW, MICH. — Mid-America Real Estate Corp. has arranged the sale of Valley Center in Saginaw for an undisclosed price. The 409,000-square-foot shopping center is home to tenants such as T.J. Maxx, HomeGoods, Dick’s Sporting Goods, Burlington, Michaels, PetSmart, Barnes & Noble, DSW, Old Navy, Ulta, Five Below and Dollar Tree. The center is 88 percent leased. Ben Wineman and Daniel Stern of Mid-America represented the seller, an institutional investor. A private family office was the buyer.
MIDLOTHIAN, VA. — Colliers has brokered the sale of a 31,394-square-foot retail property located at 1200 Huguenot Road in Midlothian. The freestanding store is leased to The Fresh Market. An entity known as California-based 101 North A ST LLC acquired the grocery-occupied property for $6.9 million. Mark Williford, Will Bradley, Peter Vick and Harrison Hall of Colliers represented the California-based seller, an entity doing business as 1200 Huguenot Road LLC. Situated at the intersection of Midlothian Turnpike and Huguenot Road, the store is near other retailers and restaurants including Tazza Kitchen Alverser Plaza, DSW, Carrabba’s Italian Grill, Macy’s, Crunch Fitness and Chipotle Mexican Grill.
WISCONSIN DELLS, WIS. — Quantum Real Estate Advisors Inc. has brokered the $4.4 million sale of an 11,982-square-foot retail strip center in the Wisconsin Dells, a city in central Wisconsin. Starbucks and Applebee’s anchor the property, which is located at 320 State Highway 13. Zack Hilgendorf of Quantum represented the seller, a Midwest-based investor. A California-based buyer purchased the asset.
VIRGINIA BEACH, VA. — JFS Real Estate LLC has purchased the Indian River Shopping Center, a 128,017-square-foot retail center in Virginia Beach. Anchored by Burlington and Food Lion, Indian River’s other tenants include It’s Fashion and One Price Cleaners. The property was fully occupied at the time of sale. The seller, Earle W. Kazis Associates Inc., sold the property for $6 million. Mike Zarpas of S.L. Nusbaum Realty Co. represented the seller, and Janet Whitbeck of Cushman Wakefield | Thalhimer represented the buyer in this transaction. Zarpas will also represent the new owner in repositioning the property. Located on 12.7 acres at 880 S. Military Highway, the property is close to the intersection of S. Military Highway and Indian River Road. The property is also 16.1 miles from Virginia Beach.