HOUSTON — Marcus & Millichap has brokered the sale of Big Space Storage, a 279-unit self-storage facility in Houston. The property was built in 2016 and spans 137,760 net rentable square feet. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.
WACO, TEXAS — New York City-based Rosewood Realty Group has arranged the sale of Cottonwood Creek Apartments, a 260-unit multifamily community in Waco. The property features one-, two- and three-bedroom units with designer finishes, walk-in closets, individual washers and dryers and private balconies/patios. Amenities include a pool, outdoor grilling area and a pet playground. Jonathan Brody of Rosewood Realty represented the seller, Continental Properties, and procured the buyer, Borei Olam Management. The sales price was not disclosed.
YPSILANTI, MICH. — Berkadia has arranged the sale of Arbor One Apartments in Ypsilanti near Ann Arbor for $30.4 million. The 469-unit, garden-style multifamily property is located at 799 Green Road. It features newly renovated one-, two- and three-bedroom units. Kevin Dillion, Jason Krug, Rick Vidrio, Rick Brace, Charley Henneghan, Carly Dietz and Corey Krug of Berkadia’s Great Lakes team represented the seller, Michigan-based Watermark Partners Real Estate. New Jersey-based Valleytree Partners was the buyer. Aaron Moll of Berkadia’s Detroit office secured $23.5 million in acquisition financing through Freddie Mac.
CHICAGO — Cushman & Wakefield has brokered the $30 million sale-leaseback of a Crash Champions property portfolio in metro Chicago. Crash Champions is an auto body collision and paint repair company based in Chicago with additional operations in California and Ohio. Jack Chang of Cushman & Wakefield represented the seller and procured the undisclosed buyer. The sale includes multiple Crash Champions shops.
WAKEENEY, KAN. — Marcus & Millichap has negotiated the sale of a 50-room Best Western Plus hotel in Wakeeney in central Kansas. The sales price was undisclosed. Built in 2005, the hotel is located at 525 S. 1st St. Allan Miller, Chris Gomes and Steve Swenholt of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a private investor. The team also procured and represented the buyer, a limited liability company.
LONG ISLAND CITY, N.Y. — Newmark Knight Frank (NKF) has negotiated the $40 million sale of a 196,000-square-foot industrial development site located at 24-02 Queens Plaza in Long Island City. Brian Ezratty and Scott Ellard of NKF represented the seller, Atlas Capital Group, in the transaction. Bill Harvey, also with NKF, represented the undisclosed buyer, which plans to develop a 270,000-square-foot facility on the site.
DURANGO, COLO. — Trailbreak Partners, a Denver-based private equity firm, has purchased Confluence at Three Springs Apartments, located at 150 Confluence Ave. in Durango. GF Properties Group sold the asset for $35.2 million. Built in 2016 and 2018, Confluence at Three Springs features 171 units in a mix of one- and two-bedroom apartments and three commercial tenants, including a Mexican restaurant, a yoga studio and a bridal boutique. Community amenities include direct hiking trail access, playground, outdoor cooking areas, seating and a resident lounge. Josh Simon and Rob Bova of JLL Capital Markets worked on behalf of the buyer to secure a 10-year, fixed-rate loan through Freddie Mac.
PHOENIX — Berkadia has arranged the sale of Villas de Azul, a garden-style multifamily in Phoenix. North Carolina-based Sterling Real Estate Partners sold the property to Vancouver, Canada-based Western Wealth Capital for $33 million. Located at 2627 N. 45th Ave. on 17 acres, Villas de Azul features 301 apartments in a mix of one- and two-bedroom apartments and three-bedroom townhouse units. Community amenities include a swimming pool, basketball court, soccer field, playground and laundry facilities. Ric Holway, Mark Forrester and Dan Cheyne of Berkadia’s Phoenix office represented the seller in the deal. Clay Akiwenzie of Berkadia’s San Francisco office secured $26.4 million in financing for the acquisition of the property. The 10-year Freddie Mac loan features an 80 percent loan-to-purchase ratio, a five-year interest-only period and a 30-year amortization.
GOLD RIVER, CALIF. — Carlsen Investments has completed the disposition of Gold Pointe Corporate Center Building E, an office property located at 11919 Foundation Place in Gold River. Davies Torrance Trust acquired the property for $14.3 million. eHealth Inc. occupies the 63,206-square-foot property, which Panattoni Development Co. built in 2003. Building E is part of the larger Gold Pointe Corporate Center, which totals five buildings and 455,000 square feet. Campus amenities include a fitness center, bike lockers, showers and an on-site café. Randy Getz of CBRE’s Sacramento office represented the seller, while Steve Tyrrell of Kidder Mathews represented the buyer in the deal.
NASHVILLE, TENN. — Cushman & Wakefield has arranged the sale of phases I and II of Airport Logistics Park, a 397,981-square-foot industrial park in Nashville. The first two phases of development span 52.7 acres and include six buildings that were leased to 14 tenants at the time of sale. The property is located at 1922 Old Murfreesboro Pike, four miles southeast of Nashville International Airport. Stewart Calhoun, Casey Masters, David McGahren and Ronnie Wenzler of Cushman & Wakefield represented the seller, Holladay Properties, in the transaction. Starwood Real Estate Income Trust acquired the asset for an undisclosed price. Holladay is still developing Phase III of the park, which will include five buildings totaling 328,500 square feet. The first building of Phase III is expected to be delivered in the first quarter of 2021. When Phase III is complete, the park will comprise 95 acres.