BILLINGS, MONT. — Lee & Associates has arranged the sale West Park Promenade, a retail center in Billings. A Ketchum, Idaho-based private investor sold the property to a Bellevue, Wash.-based 1031 exchange investor for an undisclosed price. A new Town & Country Foods anchors the 145,637-square-foot retail center, which is situated on 12 acres. The asset recently underwent a $13 million renovation to transform from a mall to a community shopping center. Other current tenants include Red Robin, Massage Envy and Yellowstone Fitness. Jan Finchman and Shane Jimenez of Lee & Associates represented the seller in the deal.
CHANDLER, ARIZ. — ScanlanKemperBard (SKB) has purchased Chandler Business Center, a flex industrial property located at 6150 W. Chandler Blvd. in Chandler. Terms of the transaction were not released. Situated 15 miles south of the Phoenix Sky Harbor International Airport, the building features 106,892 square feet of industrial and flex space. At the time of sale, the asset was 100 percent leased.
PHOENIX — WhiteHaven Capital has completed the disposition of Canyon 35, an apartment community located at 4336 N. 35th Ave. in Phoenix. A Utah-based fund manager acquired the asset for $15.5 million. Built in 1986, Canyon 35 features 98 apartments, a leasing office, pool, covered parking, laundry facilities and gym. The seller completed a programmatic renovation on 97 of the 98 units during its three-year ownership of the property. Paul Bay and Darrell Moffitt of Marcus & Millichap handled the transaction.
AUBURNDALE, FLA. — Matthews Real Estate Investment Services has arranged the sale of Imperial Plaza, a Winn-Dixie-anchored, 129,807-square-foot shopping center located at 303-413 Havendale Blvd. in Auburndale. Jonah Yulish and Ben Snyder of Matthews Real Estate represented the undisclosed buyer, which purchased the property for $12.4 million. Core Imperial Plaza was the seller, and Palomar Group was the brokerage firm representing the seller. For 44 years, Imperial Plaza has been anchored by Winn-Dixie, and the retailer completed a $1 million interior renovation in 2020. About 97 percent occupied, Imperial Plaza is co-anchored by Harbor Freight, O’Reilly Auto Parts and Fresenius.
PORT ST. LUCIE, FLA. — Lloyd Jones LLC has acquired a 10.6-acre parcel in Port St. Lucie for the development of AVIVA Port St. Lucie, a 159-unit independent living community. The project developers plan to break ground next month, and occupancy is anticipated for January 2023. Located on Lake Whitney Road, AVIVA Port St. Lucie is located close to Interstate 95, a Super Walmart, restaurants and a medical office park. The floorplans will include one- and two-bedroom apartments with dens, balconies, full kitchens and closets. Community amenities will include a pool, putting green, bar, walking trails and multipurpose rooms for social activities. Independent living services include two meals per day, housekeeping, linen services and planned entertainment and activities. The property will operate under Lloyd Jones’ proprietary AVIVA brand, which caters to lifestyles ranging from active adult to independent living. AVIVA Port St Lucie will be operated by Lloyd Jones Senior Living Management, the senior housing management division of Lloyd Jones.
ATLANTA — Skyline Seven Real Estate has brokered the sale of an office building in the Buckhead submarket of Atlanta. Elliott Kyle and Chase Murphy of Skyline Seven represented the buyer, an Atlanta-based private investor that purchased the asset for $8.8 million. Jeff Richardson of CTR Commercial Real Estate represented the seller, Inman Property Co. Located at 1801 Peachtree St., the office building is situated about 0.4 mile from Piedmont Hospital, about 2.4 miles from Piedmont Park and 14.5 miles from Hartsfield-Jackson Atlanta International Airport. The building totals 52,833 square feet and is leased to 10 tenants with three vacant spaces.
LANCASTER, OHIO — MAG Capital Partners LLC has acquired a 483,048-square-foot industrial property in Lancaster, about 30 miles southeast of Columbus. The purchase price was undisclosed. MAG Capital Partners acquired the facility in a sale-leaseback transaction with the tenant, The Babcock & Wilcox Co., a fully owned subsidiary of the publicly traded energy and environmental technologies giant Babcock & Wilcox Enterprises Inc. Located at 2600 E. Main St., the property primarily supports Babcock & Wilcox’s thermal business and is the company’s largest manufacturing and production facility. Built in 1949, the property includes three buildings on 51 acres. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners in the transaction. Gary Gladder of Cresa represented Babcock & Wilcox. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is a Fort Worth, Texas-based real estate investment firm.
DES PERES, MO. — Avison Young has negotiated the sale of a 181,631-square-foot Class A office building at 12800 Corporate Hill Drive in Des Peres, just west of St. Louis. The sales price was undisclosed. The six-story property, built in 1984 and renovated in 2020, is fully occupied on a long-term basis by Centene Corp. The building features 30,000-square-foot floor plates and a three-story parking garage that can accommodate nearly 1,000 vehicles. Erik Foster and Mike Wilson of Avison Young represented the seller, a regional institutional asset manager. Sovereign Capital was the buyer.
FLINT, MICH. — Colliers International Ann Arbor has brokered the sale of an 80,000-square-foot industrial building in Flint for an undisclosed price. The sale also includes nearly 13 acres of vacant land. Jim Chaconas and Joe Campbell of Colliers represented the seller, Fenton, Mo.-based Creative Foam Concepts. The buyer, Overhead Conveyor Co., specializes in custom manufacturing and installations of overhead conveyor systems.
GRAPEVINE, TEXAS — Colliers International has negotiated the sale of a 25,133-square-foot office building located near Dallas-Fort Worth International Airport in Grapevine. The property was fully occupied at the time of sale. Cody Payne of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.