FLAGSTAFF, ARIZ. — Cushman & Wakefield has arranged the sale of Village at Aspen Place, an apartment property located at 601 E. Piccadilly Drive in Flagstaff. An entity formed by Orange County, Calif.-based NNC Apartment Ventures acquired the asset from an entity formed by Kansas City, Mo.-based VanTrust Real Estate for $64.5 million. David Fogler and Steven Nicoluzakis of Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the deal. Completed in 2015, Village at Aspen Place feature 222 units in a mix of studio, one- and two-bedroom layouts. Community amenities include ground-floor retail space, an attached parking garage and elevator service to each floor.
WESTLAKE VILLAGE, CALIF. — Marcus & Millichap has arranged the sale of an asset occupied by a Smart & Final grocery store in Westlake Village, a suburb of Los Angeles. The triple-net-leased asset sold for $22.5 million, or $448 per square foot. The property totals 50,242 square feet with Smart & Final as the main tenant. However, 12,500 square feet is subleased to Dollar Tree on a 10-year, triple-net lease, with Smart & Final responsible for all aspects of the lease. Lior Regenstreif of Marcus & Millichap represented the seller, Riverside Villas LLC, in the transaction.
LA VERNE, CALIF. — California-based Forward One has purchased a retail property located at 1479 Foothill Blvd. in La Verne, a suburb of Los Angeles. New Jersey-based Arctrust, a private REIT, sold the asset for $7.7 million in an off-market transaction. CVS/pharmacy anchors the 26,500-square-foot building, which is situated on 1.6 acres. Anton Qiu of Anchor Pacific Capital represented the buyer, while David Kern of The Mansour Group represented the seller in the deal.
LONG BEACH, CALIF. — JLL Capital Markets has arranged the $4.5 million sale of a newly constructed, 1,839-square-foot retail building at 5865 E. Spring St. that is triple-net leased to The Coffee Bean & Tea Leaf in Long Beach. Adam Friedlander of JLL marketed the property on behalf of the seller, Pacific West Property Group Inc. An undisclosed private investor acquired the property in an all-cash transaction as part of a 1031 exchange. Alan Wong of DAAG Developments acted as the buyer’s consultant. Situated 20 miles south of downtown Los Angeles, The Coffee Bean & Tea Leaf was constructed in 2020 and features a drive-thru along with an outdoor patio that can accommodate up to 90 customers.
DALLAS — Locally based investment firm CanTex Capital, in partnership with New York City-based Imperium Capital, has acquired a 135,000-square-foot industrial complex in Dallas. The infill property is situated on 19.2 acres in the West Brookhollow submarket, adjacent to the Dallas Design District. Jarrod McCabe and Campbell Roach of JLL arranged an undisclosed amount of acquisition financing on behalf of the partnership for the deal. The seller was not disclosed.
MOUNT PLEASANT, S.C.— SRS Real Estate Partners’ National Net Lease Group has brokered the $7.4 million sale of The Shops at Gregorie Landing, a shopping center located at 2966 Hwy 17 N in Mount Pleasant. Parker Walter, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a private investor from the Northeast who was in a 1031 exchange, in the transaction. Benjy Cooke of Oswald Cooke & Associates represented the seller, an unnamed South Carolina-based developer. The Shops at Gregorie Landing is located approximately 12 miles from Charleston and 11 miles from the South Carolina Aquarium. Completed in 2020, the 11,125-square-foot property is situated on 1.6 acres. The newly constructed three-tenant retail property is fully occupied by Panera Bread, TD Bank and Heartland Dental who have all signed long-term, triple net leases.
RUSTBURG, VA. — S.L. Nusbaum Realty Co. has arranged the $4.7 million sale of Rustburg Marketplace, a 46,700-square-foot shopping center in Rustburg. The Kent Mall LLC, a private real estate investment company based in Pennsylvania, purchased the center from Rustburg Ventures LLC. The center, anchored by Food Lion, was fully leased at the time of sale to nine local and national tenants including Family Dollar, Virginia ABC, Domino’s Pizza and Subway. According to the brokers, 88 percent of the tenants at Rustburg Marketplace have been in place for more than 20 years.
OWENSBORO AND PADUCAH, KY. — DLP Real Estate Capital has acquired the Chandler Park multifamily property portfolio, which consists of two Kentucky communities in Owensboro and Paducah. The 560-unit portfolio includes one-, two- and three-bedroom units and marks DLP’s first expansion in Kentucky. The seller, Chandler Apartment Homes, sold Owensboro for $35.4 million and Paducah for $25.7 million. Built in 2014, the 320-unit Chandler Park, Owensboro is located at 3750 Ralph Ave. The property sits on over 17 acres with 17 residential buildings and includes a swimming pool, fitness center and green space with grills. The apartments have open floor plans, patios and balconies, stainless steel appliances, granite countertops and are pet-friendly. Built in 2016, the 240-unit Chandler Park, Paducah is located at 2651 Perkins Creek Drive. The property sits on almost 12 acres with seven apartment buildings and includes a swimming pool, fitness center, clubhouse and dog park. The apartments have open floor plans, stainless steel appliances with granite countertops, private patios and balconies and are pet-friendly. Brian Devlin, Brandon Wilson and John Seale of The Kirkland Co. brokered the portfolio sale. Kirkland Co., based in Nashville, is a brokerage firm that specializes in the sale of apartment communities …
PENNSAUKEN, N.J. — NAI Mertz has negotiated the sale of a 116,284-square-foot industrial building located at 1700 Suckle Highway in Pennsauken, located outside of Philadelphia in the southern part of the state. The newly renovated building is situated on a 7.7-acre lot. Scott Mertz of NAI Mertz represented the landlord, The Seyon Group, in the transaction. The buyer, Scrub Daddy, a provider of cleaning tools known for its appearance on the TV show “Shark Tank,” purchased the building for $10.7 million.
CHESTER, VA. — Cushman & Wakefield | Thalhimer has facilitated the $1.9 million sale of approximately six acres of land located on the corner of Route One at Moore’s Lake Road in Chester. David Smith of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the sellers, Americana Park LLC and Trollingwood Land LLC. Bon Secours St. Francis Medical Center, a medical center located in Midlothian, Va., purchased the property for the development of a freestanding emergency clinic.