JACKSONVILLE, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $1.7 million sale of a retail property located at 9760 San Jose Blvd. in Jacksonville. The property is triple-net leased to Curaleaf, a medical cannabis provider. Curaleaf, which operates approximately 100 stores, recently signed a 10-year lease at the 2,619-square-foot location. William Wamble and Patrick Nutt of SRS represented the unnamed seller, a national investment and development company, in the sale. Alex Wolak of Podium Realty Group represented the all-cash buyer, a Brazil-based investor.
Acquisitions
HOUSTON — Dallas-based investment firm Sealy & Co. has acquired a 663,821-square-foot warehouse and distribution building located at the intersection of McCarty Drive and Loop 610 in northeast Houston. The rail-served property is situated on 40 acres and features 200 trailer parking spaces with additional expansion capacity. Tom Lynch and Faron Wiley of CBRE, along with Scott Sealy Jr. and Jason Gandy of Sealy & Co., handled the transaction on behalf of the buyer. First Industrial Real Estate Trust sold the asset for an undisclosed price.
CONROE, TEXAS — Wisconsin-based investment firm MLG Capital has purchased Heights at Harper’s Preserve, a 328-unit apartment property located within the Harper’s Preserve master-planned community in Conroe, about 40 miles north of Houston. Heights at Harper’s Preserve offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, resident lounge and a complimentary breakfast and coffee bar. MLG Capital now owns approximately 10,700 apartments in Texas. The seller was not disclosed.
TULSA, OKLA. — Cushman & Wakefield has brokered the sale of Tulsa Hills Storage, a self-storage facility that consists of 71 climate-controlled units, 176 non-climate-controlled units and 19 parking spaces for a total of 266 storage options. Trey Hammond, Mike Mele and Luke Elliott of Cushman & Wakefield represented the sellers, Paul Korte, Brett Biery, Anthony Isler and McAuley Properties LLC, in the transaction. Attic @ Tulsa Hills LLC acquired the property for an undisclosed price.
HOUSTON — NAI Partners has arranged the sale of a 7,168-square-foot industrial property located at 1515 Globe St. in southeast Houston. According to LoopNet Inc., the single-tenant property was built in 1980. Michael Keegan, Darren O’Conor and Andrew Laycock of NAI Partners represented the undisclosed seller in the transaction. Additional terms of sale were not disclosed.
STAMFORD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of eaves Stamford, a 238-unit apartment community in southern Connecticut. The property consists of three residential buildings and 3,600 square feet of commercial space within the city’s Glenbrook neighborhood. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, AvalonBay Communities, and the buyer, Cue Residential, in the transaction.
NORRISTOWN, PA. — Private equity investment firm Tryko Partners has acquired Regina Community Nursing Center, a 121-bed skilled nursing facility in Norristown, located about 12 miles northwest of Philadelphia. Built in 1980, the property is located within a 10-mile radius to nine short-term acute care hospitals. Tryko Partners plans to undertake a $3.5 million investment in physical plant renovations and specialty programming enhancements and to rebrand the property as Markley Rehabilitation & Healthcare Center.
NEW YORK CITY — Avison Young has brokered the sale of two four-story multifamily properties in Manhattan’s East Village neighborhood for a combined $7.5 million. The four-unit property at 349 E. 13th St. sold for $3.5 million, and the five-unit building at 405 E. 6th St. went for $4 million. Brandon Polakoff of Avison Young represented the undisclosed seller and the California-based 1031 exchange buyer in the transaction.
KENDALLVILLE, IND. — Marcus & Millichap’s The Klink Group has brokered the $1.8 million sale of a single-tenant, net-leased retail property in Kendallville, about 30 miles north of Fort Wayne. The building, located at 510 Fairview Blvd, is occupied by Rural King. The retailer offers essential goods and farming products. Jordan Klink marketed the property on behalf of the seller, Los Angeles-based Walmilton LLC. Klink also sourced the buyer, Indiana-based K&K Real Estate Associates LLC. Rural King, founded in 1960, maintains more than 120 stores in 13 states.
Apartment Ventures Acquires Village at Aspen Place Multifamily Property in Flagstaff for $64.5M
by Amy Works
FLAGSTAFF, ARIZ. — Apartment Ventures NNC has purchased Village at Aspen Place, a Class A apartment community located within Aspen Place at the Sawmill in Flagstaff, for $64.5 million. Built in 2015, the property features 222 apartments. The transaction is Apartment Ventures’ fourth Southwest institutional-level acquisition in as many years, bringing its Southwest portfolio close to 1,000 units. The name of the seller was not released.