MINERAL WELLS, TEXAS — Marcus & Millichap has brokered the sale of Tuck’s Mobile Home Park, an 50-site manufactured housing community in Mineral Wells, about 50 miles west of Fort Worth. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
WINDSOR, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $63 million sale of The Preserve at Great Pond, a 230-unit apartment community in Windsor, a northern suburb of Hartford. The property was built on 12 acres in 2020 and offers studio, one- and two-bedroom units. Amenities include a pool, dog park and a fitness center. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, an entity doing business as Eastpointe Great Pond Owner LLC, in the transaction. The trio also procured the buyer, Preserve Ventures LLC.
MADISON, N.J. — A joint venture between New Jersey-based Bergman Real Estate Group and Eightfold Capital has acquired 7 Giralda Farms, a 236,800-square-foot office building in Madison, about 25 miles west of New York City. The seller was Mack-Cali Realty Corp. Built in 2000, the property is part of the Giralda Farms Corporate Campus, which consists of seven buildings totaling 1.1 million square feet on a 310-acre site. Tenants at the campus include Prudential, Leo Pharma Inc., Merck, Pfizer and Atlantic Health Systems. Michael Klein, Greg Nalbandian and Gerald Quinn of JLL arranged acquisition financing through Shem Creek Capital on behalf of the new ownership, which plans to implement a capital improvement program.
NEW YORK CITY — Avison Young has brokered the $7.9 million sale of a 18,320-square-foot industrial property in the Greenpoint area of Brooklyn. The property features a clear height of 18 feet, 1,500 square feet of office space and multiple loading docks. James Nelson, Brent Glodowski, Frederick Richter, Chris Johnson and Alexandra Marolda represented the seller, Marc Jason Realty Co. Inc. in the transaction. The buyer was an entity doing business as 688 Court Street LLC.
MESA, ARIZ. — KB Development has completed the sale of Superstition Canyon, an apartment community located in Mesa. A Southern California-based investor acquired the asset for $65 million. Located at 1247 S. 96th St., Superstition Canyon features 200 apartments; a heated swimming pool with TV, fireplace and barbecues; sauna; fitness center; clubhouse with a billiards table; business center; basketball court; sand volleyball court; and gated dog park. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the seller in the deal.
OLYMPIA, WASH. — Berkadia has arranged the sale of Evergreen Park, a garden-style apartment property located at 2121 Evergreen Park Drive SW in Olympia. The community traded for $11.1 million, or $150,000 per unit. The names of the buyer and seller were not released. Built in 1979, Evergreen Park features 74 one- and two-bedroom apartments. The property has been partially renovated and was 99 percent occupied at the time of sale. Chad Blenz, Mitchell Belcher, Steven Chattin and Jay Timpani of Berkadia Seattle represented the seller in the transaction.
IRVINE, CALIF. — Alere Property Group has purchased an industrial property located at 8710-8750 Research Drive in Irvine. A private investor sold the asset for an undisclosed price. Constructed in 2005, the 35,475-square-foot building features 20-foot clear heights, two dock-high loading positions, three ground-level doors and 12,000 square feet of office space. The Class A warehouse building is divisible to accommodate multiple tenants. Currently, a manufacturer of technological equipment for industrial machinery occupies the building. Todd Marten and Trent Walker of Voit Real Estate Services represented the seller and buyer in the deal.
CHICAGO — Oxford Capital Group LLC has acquired the 247-room, luxury lifestyle hotel known as Thompson Chicago in the city’s Gold Coast neighborhood. Oxford’s wholly owned affiliate, Oxford Hotels & Resorts LLC, assumes management of the property effective immediately. Thompson Chicago will remain affiliated with Hyatt’s luxury lifestyle hotel brand Thompson Hotels. The property originally opened in 2013. Oxford plans to revamp the hotel’s ground-floor restaurant, Nico Osteria. The hotel is also home to 12,000 square feet of meeting and event space, private suites and a fitness center. A joint venture between Walton Street Capital and AJ Capital Partners sold the hotel for around $70 million, according to Crain’s Chicago Business.
GREENFIELD, IND. — A fund sponsored by CBRE Global Investors has purchased a 505,872-square-foot warehouse in the eastern Indianapolis suburb of Greenfield for an undisclosed price. Completed this year, the property is known as Mount Comfort Logistics Center II and is fully leased. The building sits on a nearly 43-acre site at 4268 W. County Road. The property features a clear height of 36 feet, 50 dock doors, three drive-in doors, 50 trailer parking spaces and 155 auto parking spaces. The facility is expandable by more than 220,000 square feet. Seller information was not disclosed.
KENOSHA, WIS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Southport Plaza and Indian Trail Plaza in Kenosha for $43.5 million. A Florida-based private buyer purchased the two adjacent shopping centers, which total 407,367 square feet. Anchored by Kohl’s, Fresh Thyme and Hobby Lobby, the centers were 92 percent occupied at the time of sale. Southport Plaza was built in 1996 and Indian Trail Plaza was constructed in 2006. Both properties are located at the intersection of Green Bay Road and 75th Street. Craig Fuller, Scott Wiles, Erin Patton and Jared Shapiro of IPA represented the seller, a Chicago-based private equity firm. The team also represented the buyer, which secured permanent financing from a bank at a 76 percent loan-to-value ratio.