KANSAS CITY, MO. — Newmark Zimmer has negotiated the sale of Stadium Business Park in Kansas City for an undisclosed price. The Class A industrial park spans five buildings and 276,000 square feet. Tenants include Amazon, UPS, JB Hunt and Aramark. Mark Long and John Hassler of Newmark Zimmer represented the buyer, Sealy & Co. Mark Fountain of True North Industrial Realty represented the undisclosed seller.
CHICAGO — Interra Realty has brokered the sale of 1650 W. Roscoe St. in Chicago’s Lakeview neighborhood for $10 million. Originally built in 1930, the building consists of 54 apartment units and four street-level retail spaces totaling 31,500 square feet. The apartment units were 22 percent occupied at the time of sale, while the retail spaces were fully leased to Verizon, Shearstyle, Vital Nail Salon and Boutique Cleaners. Craig Martin of Interra represented both the undisclosed buyer and the seller, Buol Properties.
CHICAGO — Becovic, a Chicago-based multifamily owner and operator, has purchased The Howard Theater Building in Chicago’s Rogers Park neighborhood for $7.5 million. The property, located on West Howard Street, was originally built in 1918 and has a history of hosting movies and live productions. In 1999, Cornerstone Investment Group repurposed the building. Today, it is home to 40 apartment units, 15,000 square feet of ground-floor retail space and 60 surface parking spaces. The commercial spaces are home to Sol Café, Factory Theater and P & J Footwear. Becovic Realty brokered the sale.
BRASELTON, GA. — Foxfield Industrial has sold a 455,602-square-foot bulk distribution facility at 1001 Cherry Drive in Braselton, about 49.3 miles from downtown Atlanta. Dennis Mitchell, Matt Wirth, Mitchell Townsend and Britton Burdette of JLL Capital Markets represented the seller. Birmingham-based Growth Capital Partners acquired the property for $27.4 million. Completed in 1985 and expanded in 1996, the property is fully triple-net leased to two tenants: YearOne Inc. and TransSouth Logistics. The building’s amenities include clear heights ranging from 22 to 28 feet, 45 dock-high doors, eight drive-in doors and 486 auto spaces. The 30.5-acre site provides excess land for potential building expansion and/or additional outdoor and trailer storage. The property is situated adjacent to Interstate 85 and is 56 miles from Hartsfield-Jackson Atlanta International Airport.
MINNEAPOLIS — MDH Partners has acquired an 81,000-square-foot cold storage facility located at 740 Kasota Circle in Minneapolis. The purchase price was undisclosed. Constructed in 1977, the property features a clear height of 24 feet. Approximately 80 percent of the building is temperature-controlled. Wholesale Produce Supply, a distributor of produce in the upper Midwest and Canada, fully leases the facility. Houston Hawley served as the acquisition lead for MDH. Judd Welliver and Bentley Smith of CBRE represented the undisclosed seller.
LOUISVILLE, KY. — Stoneweg US has acquired Middletown Landing and Mallard Crossing at St. Matthews, two multifamily properties in metro Louisville, for $230 million. The deal added 1,246 units to the company’s portfolio. Jay Weiner of Rosewood Realty Group represented the buyer and the seller, Columbus, Ohio-based Lifestyles Communities. Middletown Landing comprises 646 units in mostly townhome-style floorplans with an average unit size of nearly 1,100 square feet. Unit features include granite countertops, nine-foot ceilings, subway tile backsplashes and wood-style plank flooring. Community amenities include a two-story fitness center, pool, volleyball courts, and The Goat, an onsite restaurant. Built in 2014 and 2016, Middletown Landing is located near employers including UPS, Amazon and Ford Motor Co., as well as retailers such as Target and Kroger. Mallard Crossing at St. Matthews contains 600 units. Built in 1988, Lifestyles Communities previously completed renovations on 20 percent of the units, including installing quartz countertops, walk-in showers, upgraded cabinetry and new lighting fixtures. Community amenities include a pool, gym and storage. Located at 400 Mallard Creek Road, the property is situated 10.9 miles from downtown Louisville and 8.7 miles from Louisville Muhammad Ali International Airport. As a new owner, Stoneweg US will make capital …
MIAMI — Miami-based Mast Capital and Boston-based Rockpoint have bought a 2.8-acre site in Miami for $103 million. The site is located on the southern side of the Brickell Central Business District submarket. Construction on the project is slated for 2022. Mast Capital plans to build an 80-story condominium tower with 400 residences and two multifamily towers spanning 50 stories and 60 stories with a combined 850 apartments. The three residential towers will span 2.6 million square feet. Community amenities will include food and beverage services, 1,650 parking spaces and ground-floor retail on South Miami Avenue. Located at 1420 S Miami Ave., the development will be situated one mile from downtown Miami, 6.8 miles from University of Miami and 9.6 miles from Miami International Airport. The property is also near retailers and restaurants including Branca Café, PM Fish & Steak House and Publix.
VANCE, ALA. — Highline Real Estate Partners and Growth Capital Partners have purchased Vance Logistics Center, a 604,000-square-foot, cross-dock logistics facility in Vance. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the sellers, Niantic Partners and Rothschild Capital Partners, in the transaction. Mark Byers of Cushman & Wakefield provided local leasing support. The sales price was $55 million. Built in 2004, Vance Logistics Center was fully leased to two tenants, ARD Logistics and BLG Logistics, at the time of sale. Located at 10095 Brose Drive, the facility is situated near a Mercedes-Benz Assembly Plant and is located near Interstate 20, Interstate 59 and University of Alabama, Birmingham. The property’s features include Class A tilt-wall construction, LED lighting with motion sensors, 116 dock-high doors, loading docks on three sides of the building, plenty of onsite employee and trailer parking and a guard house.
ALEXANDRIA, VA. — SRS National Net Lease Group has brokered the $27 million sale of a Whole Foods Market-occupied retail property in Alexandria. The 42,243-square-foot Whole Foods is located within The Royalton, a 116-unit residential condominium property built in 2006. Andrew Fallon and Rick Fernandez of SRS, along with Joe Friedman of Edge Capital Markets, represented the undisclosed seller, a family trust based in Hawaii, in the transaction. Sarasota, Fla.-based Benderson Development Inc. was the buyer. Located at 1700 Duke St., the property is situated 8.2 miles from the new Amazon HQ2 in Arlington and about 10 miles from Washington D.C. Whole Foods has been a tenant at this location since 2007 and has about four years remaining on the initial lease term. Whole Foods is the only retail tenant at the property, which is fully occupied.
HUNTSVILLE, ALA. — Huntsville-based SVN Multifamily LLC has arranged the $25.3 million sale of Country Club Apartments, a 200-unit multifamily property located at 1000 Airport Road in southeast Huntsville. The buyer, Houston-based Truepoint Capital, plans to invest more than $2 million into the property, including renovating the units with vinyl plank flooring, upgraded appliances, cabinetry and repainting exteriors. Averbuch Enterprises was the seller. Built along Airport Road on about 22 acres in 1965, Country Club Apartments offers one- and two-bedroom floorplans. Community amenities include a fitness center, onsite property management, picnic area and grills, emergency maintenance, pool, arts and crafts room, three laundry rooms, clubroom and a tennis court. The property was fully occupied at the time of sale.