FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of The Villas at Cantamar, a 265-unit apartment community located on the west side of Fort Worth. The property features one-, two- and three-bedroom units and amenities such as two pools, a playground and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the locally based buyer and seller, both of which requested anonymity, in the transaction.
PROSPER, TEXAS — Dallas-based Younger Partners has purchased The Shops at Prosper Trail, a 96,948-square-foot shopping center located northeast of Dallas. Shadow-anchored by Kroger, the property was built in 2016 and was 98 percent leased at the time of sale. Adam Howells and Zach Riebe of JLL represented the seller, MQ Development Co., in the transaction. Micah Ashford, Moody Younger and Kathy Permenter represented Younger Partners on an internal basis.
VALLEY, ALA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $4.5 million sale of Shops at Valley, a 28,000-square-foot shopping center in Valley. Boris Shilkrot of SRS represented the seller, OSCI Properties, in the transaction. The buyer, Prudent Growth Partners LLC, was self-represented in the transaction. The shopping center is shadow-anchored by a Walmart Supercenter and fully occupied by tenants including Ace Hardware, Workout Anytime, H&R Block, T-Mobile and Advance America. Located along the Georgia and Alabama state lines, the property is situated 26 miles from Auburn, Ala., and 31.8 miles from Columbus, Ga.
NEWTON, MASS. — Boston-based Taurus Investment Holdings has acquired Wells Park, a 377,696-square-foot office complex located in the western Boston suburb of Newton, for $92 million. The three-building complex was 93 percent leased at the time of sale to tenants such as Sally Mae Corp., Newton-Wellesley Hospital, Karyopharm Therapeutics, Ascensus and Adviser Investments. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines of CBRE represented the seller, New York-based Angelo Gordon, in the transaction. The new ownership plans to upgrade the buildings’ energy systems through its subsidiary, RENU Communities.
MARSHFIELD, MASS. — Newmark has brokered the sale of Modera Marshfield, a 248-unit apartment community located in the South Shore city of Marshfield. Built in 2021, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, multiple outdoor dining and lounge areas and shared workspaces. Michael Byrne, Thomas Greeley, Devlin Man and Casey Griffin of Newmark represented the seller, a partnership between Mill Creek Residential Trust and CrossHarbor Capital Partners, in the transaction. Boston-based TA Realty purchased Modera Marshfield, which was 90 percent occupied at the time of sale, for an undisclosed price.
HARRISBURG, PA. — The Kislak Co. Inc., a New Jersey-based brokerage firm, has negotiated the $16 million sale of Olde Liberty Square, a 95,000-square-foot office building in Harrisburg. The property sits on 4.6 acres and features 310 parking spaces. Matt Wolf and Robert Holland of Kislak represented the seller, Room One Corp., in the transaction. Bo Mangam of Landmark Commercial represented the buyer, an entity doing business as Empire Liberty Square LLC.
MCCOOK, ILL. — Bridge Industrial has acquired 87 acres in McCook that was previously home to Caterpillar manufacturer Progress Rail. Bridge plans to build two industrial buildings totaling nearly 1.2 million square feet on the site. Progress Rail downsized its footprint and will continue to operate on the remainder of the area not sold to Bridge. Demolition of existing structures is scheduled to begin this month. Completion of the project is slated for mid-2023. The larger building, totaling 999,126 square feet, will feature 201 exterior docks, four drive-in doors, 211 trailer positions, 508 car parking spaces and a clear height of 40 feet. The smaller facility, totaling 189,953 square feet, will feature 43 docks, two drive-in doors, 48 trailer positions, 222 car parking spaces and a clear height of 36 feet.
ELGIN, ILL. — JLL Income Property Trust has purchased a two-building distribution center in the northwest Chicago suburb of Elgin for $47 million. Constructed in 2020, the buildings total 407,000 square feet. The larger building features a clear height of 33 feet, while the smaller one features a clear height of 29 feet. Both facilities are fully leased. The seller was undisclosed.
INDIANAPOLIS — Colliers has brokered the sale of a seven-building industrial portfolio totaling 248,363 square feet in metro Indianapolis for more than $25 million. Five of the buildings are located in Indianapolis while two are in Noblesville. Alex Cantu and Alex Davenport of Colliers represented the seller, GDW Properties. The portfolio sold to separate buyers, including Exeter Property Group, Biynah Industrial Partners, Trip Portfolio LLC and an unnamed private investor.
WASHINGTON, D.C. AND PENSACOLA, FLA. — A joint venture between Washington, D.C.-based National Real Estate Advisors (NREA) and Florida-based Catalyst Healthcare Real Estate has acquired two national healthcare portfolios totaling approximately 1.2 million square feet Together, the portfolios comprise 40 properties across 13 states, the majority of which are located in Sun Belt markets. At the time of sale, the portfolios had a combined occupancy rate of 92 percent. Of that 1.1 million square feet of occupied space, about 88 percent is leased to regional healthcare systems and physician groups. The acquisition and recapitalization represent a total investment of approximately $420 million. The sellers were also not disclosed. “These transactions underscore our commitment to investing in highly competitive, diverse markets that seek to generate long-term, healthy returns for our clients,” says Jeffrey Kanne, president and CEO of NREA. “This acquisition not only significantly scales our medical office portfolio but furthers our geographic diversification.” “Our joint venture strives to positively impact healthcare delivery by investing strategic capital with a partnership-like mentality,” adds Chad Henderson, founder and CEO of Catalyst. “The closing of the portfolios was a significant first step for our joint venture and paves the way for the future of …