NEW ALBANY, IND. — Rosewood Realty Group has arranged the $22.2 million sale of Stonecrest Apartments in New Albany, about five miles northwest of Louisville, Ky. The six-building, garden-style apartment community is located at 4719 Grant Line Road along the Ohio River and includes 144 units. The first building was completed in 2017 and the sixth building was constructed in 2021. Aaron Jungreis and David Wildes of Rosewood represented the seller, a local developer. The duo also represented the metro New York City-based buyer, which plans to add a new pool and clubhouse to the property.
FOSTORIA, OHIO — Matthews Real Estate Investment Services has brokered the $14.5 million sale of a 488,000-square-foot industrial property in Fostoria, about 40 miles south of Toledo. Global consumer brand Arm & Hammer occupies the building, which is located at 110 E. Jones Road. Alexander Harrold of Matthews represented the institutional seller. The transaction closed above the final list price.
GREENFIELD, WIS. — Mid-America Real Estate Group has negotiated the $9.3 million sale of 84South Small Shops in Greenfield, a southern suburb of Milwaukee. Built in 2018, the 17,805-square-foot retail center is located along Layton Avenue. Tenants include Men’s Hair House, Hand & Stone Massage and Facial Spa, MOD Pizza, FedEx Office and Café Zupas. Dan Rosenfeld of Mid-America Real Estate Wisconsin LLC represented the seller, Cobalt Partners. E&K Land LLC was the buyer.
HOUSTON — Locally based investment management firm LandPark Advisors has acquired Easy Self Storage, a 234-unit facility located in northwest Houston. Originally built in 1984 and expanded in 2021, the facility consists of 43,025 net rentable square feet of space across 62 climate-controlled units and 172 non-climate-controlled units. LandPark Advisors plans to implement a capital improvement program and rebrand the property under the flag of its management company, Right Move Storage. The seller and sales price were not disclosed.
PALM BEACH GARDENS, FLA. — CBRE has arranged the $81.2 million sale of the fee simple interest in Fairway Office Center in Palm Beach Gardens. The buyer was a joint venture between Parmenter Realty Partners and an affiliate of Prime Finance. Christian Lee, Jóse Lobón, Tom Rappa and Marcus Minaya of CBRE represented the sellers, NAI Merin Hunter Codman and a joint venture institutional investment manager, in the transaction. Jason Sundook of NAI Merin Hunter Codman assisted in marketing the asset for sale. Fairway Office Center features three Class A office buildings totaling 222,682 square feet. Currently 78 percent leased, the property is located on a 16-acre campus. 7108 Fairway was built in 1989, 7111 Fairway was built in 2003 and 7121 Fairway was built in 2000. Located at 7108, 7111 and 7121 Fairway Drive, the office center is about four miles from downtown Palm Beach Gardens, 14.4 miles from West Palm Beach and 15.7 miles from Palm Beach International Airport. The property is also near retailers and restaurants such as Rocco’s Tacos & Tequila Bar, Brooklyn Water Bagel and Walgreens. The previous owners recently made $1.3 million in improvements to the property. The buyers plan to make even more …
RIVERSIDE, CALIF. — Alere Property Group has purchased Freeway Business Center, a Class A industrial warehouse facility at 2677 E. Alessandra Blvd. in Riverside. A joint venture between Crow Holdings Industrial and a global real estate investment advisor sold the asset for $199.2 million. Built in 2021 on 39 acres, the property features 709,081 square feet of industrial space with 36-foot clear heights, ample excess trailer parking, heavy power, ESFR and drive-around access. Additionally, the facility features 109 dock-high doors and a large secure concrete truck court. At the time of sale, the property was fully leased on a long-term basis to a national third-party logistics provider. Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Brad Brandenburg and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented both parties in the transaction. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield provided local market advisory for the deal.
PHOENIX — Canada-based Epic Investment Services, through its Epic Multifamily Real Estate Fund I, has acquired Urban 188 and 96, two apartment communities located at 1601 and 1545 W. Camelback Road, respectively, in Phoenix. Urban 1601 Property sold the properties for $52 million. Built in 1967, Urban 96 sold for $17 million, and Urban 188, which was built in 1970, sold for $35 million. The two properties offer a total of 284 apartments in a mix of studio, one- and two-bedroom units averaging 467 square feet. At the time of sale, the properties were approximately 98 percent leased. Chris Roach, Brad Cooke, Matt Roach and Cindy Cooke of Colliers in Arizona negotiated the transaction. Fidelity National Title handled the title and escrow for the sale.
CANTON, GA. — Dalfen Industrial has purchased a two-building industrial park in Canton, about 41.5 miles from downtown Atlanta. The sales price and seller were not disclosed. The industrial property totals 112,000 square feet. Located at 505/515 Brown Industrial Blvd., the property is situated close to Interstate 575 and Georgia Highways 20 and 400. The area is home to tenants such as Amazon, Penske, Thyssen Krupp and Papa Johns. With the acquisition, Dalfen Industrial’s Atlanta portfolio reaches over 2.7 million square feet.
ROSAMOND, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sales of four single-tenant, net-leased investments at a shopping center in Rosamond for a total consideration of $19.3 million. Four separate buyers acquired the assets, which offer a combined total of 28,462 square feet and were built in 2021. Bill Asher and Jeff Lefko of Hanley Investment Group represented the developer and seller, a partnership between Pasadena-based Halferty Development Co. and Net Lease Alliance. In the first transaction, Asher and Lefko brokered the sale of a 16,000-square-foot Grocery Outlet-occupied property at 2550 Rosamond Blvd. A San Diego-based private partnership purchased the asset for $7.1 million. Mike Conger of San Diego-based CAA represented the buyer in the deal. A Los Angeles-based private investor acquired a 2,200-square-foot Starbucks Café and Drive-Thru at 2544 Rosamond Blvd. for $3.5 million. Joey Kim of Irvine-based eXp Realty represented the buyer, while Asher and Lefko represented the seller. In the third deal, Asher and Lefko arranged the sale of a 3,062-square-foot 7-Eleven convenience store with a gas station at 2536 Rosamond Blvd. A San Diego-based private investor acquired the property for $5.6 million. Lindsey Kalal of Coronado-based Kalal Investment Realty represented the buyer, while …
HEMET, CALIF. — Progressive Real Estate Partners has arranged the sale of Courtyard Medical & Professional Center, located at 910-960 N. State St. in Hemet. A Newport Beach-based private investor acquired the asset for $5.6 million. Greg Bedell of Progressive Real Estate Partners represented the seller, while Henry Liu of CBD Investments represented the buyer in the transaction. Built in 1981, the 39,796-square-foot Courtyard Medical & Progressive Center was fully occupied at the time of sale.