EVANSVILLE, IND. — Savills has brokered the sale of Graham Packaging’s plastics manufacturing plant in Evansville for $24.7 million. The 266,720-square-foot, net-leased facility is located at 5504 Foundation Drive within Vanderburgh Industrial Park. Graham Packaging produces 300 million food and beverage containers annually at the property, which was built in 2002 and expanded in 2008. Maurice Nieman of Savills represented the undisclosed seller. SomeraRoad was the buyer.
WARREN, MICH. — Cushman & Wakefield has arranged the $2.6 million sale of the Regal Court medical office property in Warren, a suburb just north of Detroit. The property includes two buildings totaling 40,181 square feet. The anchor tenant is Ascension, which occupies 41 percent. Gino Lollio, Scott Niedergang, Travis Ives and Garrett Keais of Cushman & Wakefield represented the seller, Promanas, an Ann Arbor-based commercial real estate private equity firm. The team also procured the local buyer, CMG Realty Group.
NEW YORK CITY — Ariel Property Advisors has brokered the $3.5 million sale of a 2,700-square-foot retail and residential building in the Kips Bay area of Manhattan that consists of one retail space leased to Dunkin’ and two residential units. Howard Raber, Sean Kelly and Jack Moran of Ariel Property Advisors represented the undisclosed seller in the deal. The buyer and sales price were also not disclosed.
GREENVILLE, S.C. — Capstone Apartment Partners has brokered the $49 million sale of Vantage at Powdersville, a 288-unit, garden-style apartment community in Greenville. The property is situated on 22 acres in west Greenville at the intersection of Anderson Road and State Road 153, about 19 miles from Greenville-Spartanburg International Airport and 7.2 miles from downtown Greenville. Caleb Troop, Austin Green and Alex McDermott of Capstone represented the seller, Vantage Communities, in conjunction with Marcus & Millichap’s Institutional Property Advisors. The buyer is California-based RK Properties, which plans to complete light upgrades to the community amenities and interior units. Built in 2019, Vantage at Powdersville features one-, two- and three-bedroom apartment homes with wood-style flooring, fully equipped kitchens, ceiling fans, walk-in closets, full-size washers and dryers and a patio or balcony. Community amenities include a resort-style swimming pool, fitness center, picnic/grilling area, business center, dog parks and washing stations and garages. The community was approximately 97 percent occupied at the time of closing. Vantage at Powdersville is RK’s third transaction in the Carolinas in the past seven months. The company purchased Haven Pointe at Carolina Forest in Myrtle Beach this year, as well as Novel Research Park in Charlotte late last year. …
PHOENIX — ABI Multifamily has arranged the sale of Parkwood Apartments, a multifamily property in Phoenix. The asset sold for $69.2 million, or $201,30 per unit. The names of the seller and buyer were not released. Built in 2001, Parkwood Apartments consists of 23 residential buildings offering a total of 344 units in a mix of 48 one-bed/one-bath, 48 two-bed/one-bath, 144 two-bed/two-bath and 104 three-bed/two-bath units. All apartments include washers/dryers, air conditioning/heating, vaulted ceilings, private patios, additional storage and fully equipped kitchens. Community amenities include a rental office, fitness center, pool/spa, playground, barbecue grills, picnic area, gated entry and residential parking. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented the seller and buyer in the deal.
JACKSONVILLE, FLA. — LRC Properties has purchased 600 Whittaker Road in Jacksonville for $29.6 million. The 469,830-square-foot warehouse is the New York-based firm’s first industrial acquisition in Jacksonville. LRC Properties partnered on the deal with Machine Investment Group, and Rialto Capital provided $24.7 million debt financing. The seller was not disclosed. The warehouse property is located in the northside submarket of Jacksonville near Interstates 95, 295 and 10. The property features warehouse space, 32-foot clear heights, loading areas and trailer parking. LRC plans to make cosmetic upgrades to the property and improve signage. With this purchase, LRC owns approximately 6 million square feet of commercial properties in the Southeast. The company recently purchased two properties known as the 640,000-square-foot Technicolor Building in Memphis and a 288,000-square-foot industrial property at 2 Dell Parkway in Nashville.
DENVER — Virginia-based Willow Creek Partners has purchased The Croft Apartment Homes, a mid-rise property located at 7200 E. Evans Ave. in Denver. This is the company’s first acquisition in the region. The name of the seller and acquisition price were not released. Adam Randall and John Westby-Gibson of Newmark’s Multifamily Capital Markets Debt & Structured Finance group arranged $21.8 million in acquisition financing for the buyer. The Croft Apartment Homes features 138 units in a mix of one- and two-bedroom floor plans. Built in 1974, the building’s renovated units offer new appliances, granite countertops, air conditioning, ample storage, in-unit washers/dryers and private outdoor space. Community amenities include a business center, clubhouse, courtyard, fitness center, indoor pool and game room.
FORT COLLINS AND WINDSOR, COLO. — Avison Young has arranged the sale of a three-property shopping center portfolio located in Fort Collins and Windsor. Colorado-based Johnson Investments sold the portfolio to Neighborhood Equities for $10.1 million. Totaling just over 60,000 square feet, the portfolio includes the 21,633-square-foot Oakridge Shopping Center at 1112 Oakridge Drive in Fort Collins, which was 80 percent occupied; The Shops at Westwood, a fully occupied, 18,350-square-foot property at 1293-1295 Main St. in Windsor; and the fully leased, 20,250-square-foot Windsor Town Center II at 1215 Main St. in Windsor. David Maling, Chris Maling and Sam Crowe of Avison Young represented the seller, while Cushman & Wakefield represented the buyer in the deal.
LAS VEGAS — CBRE has brokered the sale of a single-tenant office building located at 7408 W. Sahara Ave. in Las Vegas. A private investor acquired the property for $2.6 million. Bertoldo, Baker, Carter & Smith Attorneys at Law occupy the free-standing, 11,604-square-foot building under a triple-net lease. Tyler Ecklund, James Griffis, Britney Arredondo and Randy Broadhead of CBRE represented the undisclosed seller in the deal.
MIAMI BEACH, FLA. — Cushman & Wakefield has arranged the $24.5 million sale of Marina Del Rey, a 108-unit waterfront apartment community in Miami Beach. Calum Weaver, Garrett Pordes, Robert Given, Zach Sackley and Troy Ballard of Cushman & Wakefield represented the seller, Finvarb Group, in the transaction. An entity doing business as 1006 Bay Drive LLC was the buyer. Located at 1006-1022 Bay Drive, Marina Del Rey features over 400 feet of direct water frontage with views of Biscayne Bay and downtown Miami.