DENVER — Malman Commercial Real Estate has arranged the sale of 1135 E. Evans Ave. and 2085 S. Downing St. in Denver. Mazon Evans LLC acquired the assets from Downing & Evans LLP for $1 million. The asset offers 6,700 square feet of retail space. Jake Malman of Malman Commercial represented the buyer, while Mark Pyms of Panorama Commercial Brokerage represented the seller in the deal.
CHICAGO AND MILWAUKEE — Berkadia has arranged the sale of three upscale senior living communities offering assisted living and memory care services in the Chicago and Milwaukee metropolitan areas. Heartis of Orland Park in suburban Chicago features 96 assisted living and memory care units. Opened in 2018, the property is the newest majority assisted living community in the Southwest Cook County submarket. Heartis Village Brookfield and Heartis Village North Shore, located in Brookfield and Glendale, Wis., opened in 2019 and total 210 assisted living and memory care units. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia arranged the sale on behalf of the seller, a joint venture between Dallas-based Caddis Partners and a private equity real estate fund. A publicly traded REIT was the buyer.
DEKALB, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 57,832-square-foot retail center in DeKalb for an undisclosed price. The center was 63 percent leased at the time of sale to tenants such as Ollie’s, GNC and Little Caesars. Dan Waszak, Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, GW Properties. The buyer was a private group based out of Miami.
JANESVILLE, WIS. — Marcus & Millichap has negotiated the $2.3 million sale of Interstate Secure Storage, a 233-unit self-storage facility in the Milwaukee suburb of Janesville. Built in 2015, the property totals 44,250 rentable square feet. There are expansion plans for two additional buildings totaling 25,950 square feet. Dan Bowar of Marcus & Millichap represented the buyer, Hastings Property Group LLC. The seller was undisclosed.
AUSTIN, TEXAS — Cousins Properties (NYSE: CUZ) is under contract to acquire Sail Tower, a trophy office building located at 601 W. 2nd St. in downtown Austin. The Atlanta-based REIT agreed to a net purchase price of $521.8 million for the 804,000-square-foot property. Sail Tower was delivered in 2022 and its offices are fully leased to a Fortune 20 company through 2038, according to Cousins. The tenant name was not disclosed, but multiple media outlets report that Google is the occupant. The seller was also not mentioned, but Dallas-based Trammell Crow Co. developed the tower, which was formerly known as Block 185. The name “Sail Tower” derives from its curved appearance. The LEED Platinum property is situated near Austin’s Second Street entertainment district and offers unobstructed views of Lady Bird Lake. “We are thrilled to add this iconic office property, with a strong investment grade customer, to our Austin portfolio,” says Colin Connolly, president and CEO of Cousins. “This exciting transaction enables Cousins to enhance the quality of our leading lifestyle office portfolio and is immediately accretive to earnings.” Cousins’ existing downtown Austin office portfolio is situated near Sail Tower and is currently 93 percent leased. The assets include 300 Colorado, …
MEMPHIS, TENN. — Cushman & Wakefield Commercial Advisors has brokered the $63 million sale of a manufacturing and logistics facility located on 35.7 acres at 5106 Tradeport Drive in Memphis. AAON Inc., an HVAC equipment manufacturer based in Tulsa, Okla., purchased the 787,000-square-foot property from Conwood Co. LLC, an affiliate of tobacco manufacturer American Snuff Co. Landon Williams, Katie Hargett and Mark Jenkins of Cushman & Wakefield Commercial Advisors represented the seller in the transaction, and John Beach and Susan Arledge of Newmark represented the buyer.
LAKELAND, FLA. — Marcus & Millichap has negotiated the $15.5 million sale of Northtowne Square, a 96,009-square-foot shopping center located in Lakeland. Built in 1988, the property was fully leased at the time of sale to tenants including Harbor Freight Tools, Fancy Fruit & Produce and Brewlands Bar & Billiards. Tarek Chbeir of Marcus & Millichap represented the seller in the transaction, and Garrett Fierstein of Marcus & Millichap Capital Corp. (MMCC) arranged $6.5 million in acquisition financing on behalf of the buyer.
ARLINGTON, TEXAS — California-based investment firm Bendetti has acquired two industrial properties totaling 114,390 square feet in Arlington. The building at 1173 109th St. totals 35,000 square feet, and the property at 1114-1118 W. Harris Road comprises two buildings totaling 79,390 square feet, including 1,400 square feet of office space. Both facilities were fully leased at the time of sale. Stephen Bailey of Newmark represented the seller, Dallas-based CanTex Capital, in the off-market transaction. The sales price was not disclosed.
COLLEGE STATION, TEXAS — Colliers has brokered the sale of a 14,165-square-foot industrial building in College Station. The building at 5936 Imperial Loop Drive sits within Aggieland Business Park, a 133-acre development on the city’s southwest side. The property is a build-to-suit for global agricultural company Advanta Seeds. Todd Moore, Connor Duffy and Zack Martin of Colliers represented the seller, Dark Horse Real Estate, in the transaction. Bill Byrd of Colliers and Judd Harrison of KBC Advisors represented the undisclosed buyer.
SAGINAW, TEXAS — Marcus & Millichap has negotiated the sale of Victory Shops at Basswood VI, an 8,246-square-foot retail strip center in Saginaw, located north of Fort Worth. The center was built in 2021 and was fully leased at the time of sale to four tenants: Mooyah Burger, Thrive Pet Healthcare, Bazooka Charlie’s Barber Co. and Swig. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
