ABINGTON, MASS. — Marcus & Millichap has brokered the $9.7 million sale of a 102,000-square-foot retail asset located at 400 Bedford St. in Abington, located south of Boston. The property is leased to Lowe’s Home Improvement. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WAUWATOSA, WIS. — HSA PrimeCare, the healthcare real estate division of Chicago-based HSA Commercial Real Estate, has acquired a 16,513-square-foot medical office building in Wauwatosa near Milwaukee. Located at 3040 N. 117th St., the property is 95 percent occupied with approximately 825 square feet of leasable space. Tenants include Ascension Medical Group, which uses the location to provide a range of women’s health services, and Children’s Medical Group, which is owned by Children’s Wisconsin. Both tenants have operated from the building since it opened in 2007. Tom Shepherd and Adam Connor of Colliers International represented the undisclosed seller.
NEW YORK CITY — Locally based brokerage firm TerraCRG has negotiated the $7.4 million sale of a commercial development site in Brooklyn’s Flatbush area. The site is currently zoned to support residential and retail uses. Ofer Cohen, Daniel Lebor and Peter Matheos of TerraCRG represented the seller, Freda Realty Co. LLC, in the transaction. The buyer was a locally based entity doing business as Horizon at Flatbush LLC.
HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of Rio Vista, a 246-unit apartment community located in the northeast Fort Worth suburb of Haltom City. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Florida-based Greenwater Investments, and procured the buyer, an unnamed investment firm based in California. Built in 1968, Rio Vista’s apartments feature one- and two-bedroom floor plans that range in size between 684 and 1,016 square feet, according to Apartments.com. Communal amenities include two resort-style pools, a courtyard, playground, dog park and a soccer field. Greenwater invested approximately $4 million to renovate Rio Vista prior to the sale.
DALLAS — An affiliate of Chicago-based Walton Street Capital LLC has purchased The Gentry on M Streets, a 180-unit apartment community located in the Lower Greenville neighborhood of Dallas. The seller and sales price were not disclosed. Built in 2015, Gentry features a mix of studio, one- and two-bedroom units that were 97 percent occupied at the time of sale. Interiors include granite countertops, stainless steel appliances, in-unit washers and dryers and balconies or private yards for select units. Community amenities include an outdoor kitchen and lounge, resort-style pool, 24-hour fitness center and a conference room. Located at 3736 Glencoe St., Gentry is located adjacent to Southern Methodist University and features direct access to Glencoe Park and the Katy Trail.
BURLESON, TEXAS — Colliers International has arranged the sale of Weatherby Business Park, a 60,500-square-foot industrial flex property located in the Fort Worth suburb of Burleson. The property was built in 2008 and was fully leased at the time of sale. Cody Payne, Austin Edelmon and Michael Tran of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity.
FORT WORTH, TEXAS — Locally based hospitality investment firm NewcrestImage has acquired the 164-room Sinclair Hotel in downtown Fort Worth. The 17-story luxury property is part of the Marriott Autograph Collection of hotel brands and features multiple food and beverage concepts. The seller and sales price were not disclosed.
PORTLAND, MAINE — Apple Hospitality REIT (NYSE: APL) has acquired the 157-room Aloft Hotel in downtown Portland for $51.2 million, or approximately $326,000 per key. The newly built, waterfront property features a fitness center, meeting space and multiple food and beverage options. The seller was not disclosed. Following the acquisition, the portfolio of Virginia-based Apple Hospitality consists of 215 hotels totaling about 28,000 rooms across 35 states.
MALDEN, MASS. — JLL has brokered the sale of a 47,915-square-foot light industrial property in Malden, located north of Boston. Originally built in 1958, the facility was fully leased at the time of sale to Enjet Aero, a provider of custom turbine and jet engine components. JLL represented the seller, Eastern Real Estate, in the transaction. Michael Restivo and Jonathon Schneider of JLL arranged a five-year, fixed-rate acquisition loan through Middlesex Savings Bank on behalf of the buyer, Boston-based Novaya Real Estate Ventures.
NEW YORK CITY — Locally based brokerage firm TerraCRG has negotiated the $2.9 million sale of an 11,000-square-foot residential development site in the Cypress Hills neighborhood of Brooklyn. The site is located within a Qualified Opportunity Zone and can support development of 43,700 buildable square feet. Peter Matheos, Mike Rafter, Andrew Manasia and Jourdon Delerme-Brown of TerraCRG represented the seller, an entity doing business as 2771 Atlantic Realty LLC, in the transaction. The buyer was not disclosed.