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Acquisitions

Hebron-121-Station-Lewisville
AcquisitionsMultifamilyTexas

Huffines Communities Sells 1,429-Unit Apartment Complex in Metro Dallas

by Taylor Williams

LEWISVILLE, TEXAS — Locally based developer Huffines Communities has sold Hebron 121 Station, a 1,429-unit apartment community located in the northern Dallas suburb of Lewisville. The 90-acre community is located near several major thoroughfares, including Interstate 35, State Highway 121 and President George Bush Turnpike. Hebron 121 Station was developed in phases, beginning with the delivery of 250 units in 2011. Amenities include four pools with beaches and swim-up bars, entertainment lounges, an onsite restaurant and convenience store, dog parks, outdoor kitchens, two fitness centers and a 10,000-square-foot clubhouse and leasing center. The buyer was EastSky Properties. The sales price was undisclosed.

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Heather Island Plaza
AcquisitionsFloridaRetailSoutheast

CBRE Arranges Sale of 70,970 SF Heather Island Plaza in Ocala, Florida

by Julia Sanders

OCALA, FLA. — CBRE has arranged the sale of a Heather Island Plaza, a 70,970-square-foot, Publix-anchored shopping center in Ocala. Built in 2000, the property is located at 7878 SE Maricamp Road, and was 85 percent leased at the time of sale. CBRE represented the seller, a joint venture between Madison International Realty and SITE Centers Corp., in the transaction. The seller, New Bandera Ventures, sold the asset for an undisclosed price.

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AcquisitionsIndustrialTexas

Dalfen Industrial Acquires 98,666 SF Property Near Fort Worth

by Taylor Williams

WHITE SETTLEMENT, TEXAS — Dalfen Industrial has acquired Tarrant Distribution Center, a 98,666-square-foot property located adjacent to the Lockheed Martin Aeronautics headquarters facility in White Settlement, a western suburb of Fort Worth. Dalfen’s acquisition of the Class A property, which was built in 2017 and fully occupied at the time of sale, marks its second purchase in the Fort Worth area in the last nine months. The seller and sales price were not disclosed.

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AcquisitionsHealthcareTexas

Joint Venture Buys 43,397 SF Medical Office Building in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — A joint venture between Texas Orthopaedic Associates Fort Worth PLLC and Vaquero Ventures has purchased a 43,397-square-foot medical office building at 5900 Altamesa Blvd. in Fort Worth. Bill Behr and Jim Sager of Tranwestern represented the seller, USMD Hospital at Fort Worth LP, in the transaction. Texas Orthopaedic Associates will also occupy the building along with Texas Health Surgery Center Chisholm Trail.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 26,318 SF Retail Center in Texas City, Texas

by Taylor Williams

TEXAS CITY, TEXAS — Marcus & Millichap has brokered the sale of Three Palms Retail Center, a 26,318-square-foot property in Texas City, located south of Houston. Gus Lagos, Alex Wolansky, Jacob Starr and Zuhare Rizvon of Marcus & Millichap represented the seller in the transaction. Riley Sharman, also with Marcus & Millichap, represented the buyer. Both parties were limited liability companies that requested anonymity.

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 15,690 SF Shops on Custer in Metro Dallas

by Taylor Williams

MCKINNEY, TEXAS — Locally based retail brokerage firm STRIVE has arranged the sale of Shops on Custer, a 15,690-square-foot retail strip center located in the northern Dallas suburb of McKinney. Jason Vitorino of STRIVE represented the seller, a local developer, in the transaction. Hudson Lambert, also with STRIVE, represented the Texas-based buyer. The property was fully leased to seven tenants at the time of sale.

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Kotarides
AcquisitionsMultifamilyNorth CarolinaSoutheast

Capstone Brokers $4.4M Sale of Multifamily Development Site in Leland, North Carolina

by Julia Sanders

LELAND, N.C.— Capstone Land Sales has brokered the $4.4 million sale of a 22.8-acre multifamily development site within the Westgate community of Leland, about 10 miles west of Wilmington, N.C. The buyer, Virginia-based Kotarides Developers, will break ground in 2023 on a 360-unit luxury apartment community at the site. Caleb Troop and Eric Liebich of Capstone Land Sales led the sales transaction. The seller was not disclosed. Kotarides’ apartment project will offer views of Jackeys Creek and be part of the greater 550-acre Westgate community, which includes retail and dining, apartment communities and single-family homes, as well as the 146-acre Westgate Nature Park. The project will be the first apartment property in the Wilmington market for Kotarides, which has several other communities in Raleigh and Charlotte. The regional firm now owns and manages 24 apartment communities and several million square feet of commercial properties.

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AcquisitionsDelawareHospitalityNortheast

Savills Brokers Sale of 112-Room Marriott-Branded Hotel in Bethany Beach, Delaware

by Taylor Williams

BETHANY BEACH, DEL. — Savills Inc. has arranged the sale of the 112-room Bethany Beach Ocean Suites Residence Inn, part of the Marriott family of brands, in coastal Delaware. The oceanfront hotel offers resort-like suites, a full-service spa and five meeting rooms. Marc Magazine and Tom Baker of Savills represented the seller, a partnership by entities doing business as Bethany Boardwalk Group LLC and Bethany Beach Ocean Inn LLC, in the transaction. The buyer was EOS Acquisitions LLC.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Arranges $26.1M Sale of Apartment Complex in St. Paul

by Kristin Harlow

ST. PAUL, MINN. — JLL Capital Markets has arranged the sale of the Phoenix Apartments in the Battle Creek neighborhood of St. Paul for $26.1 million. Located at 200 Winthrop St., the 216-unit apartment complex was built in 1976 and updated in 2017. Mox Gunderson, Josh Talberg, Dan Linnell and Adam Haydon of JLL represented the seller, Main Street Cos. A joint venture between a fund managed by DRA Advisors and Marquette Cos. was the buyer. The sale represents a value-add opportunity as roughly 50 percent of the apartment complex is still in need of renovations, according to JLL.

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AcquisitionsMidwestNebraskaRetail

MAG Capital Partners Sells 88,000 SF Athletic Facility in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — MAG Capital Partners LLC has sold an approximately 88,000-square-foot athletic and tennis facility in Lincoln to the property’s tenant, Genesis Health Clubs. The sales price was undisclosed. MAG Capital Partners purchased the property, located at 5300 Old Cheney Road, in 2017 and leased it to Genesis. The property offers tennis, racquetball, aquatics, youth programs, tanning, massage therapy, a café and pro shop. Plans for a major remodel are underway. Fort Worth, Texas-based MAG Capital Partners is led by principals Dax T.S. Mitchell and Andrew Gi. Genesis operates 57 locations across six states.

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