WHEAT RIDGE, COLO. — NAI Shames Makovsky has negotiated the sale of a retail building located at 9830 W. I-70 Frontage Road South in Wheat Ridge. Lag B’Omer Partnership and Lag B’Omer LLC sold the asset to Going Green LLC for $2.7 million. The property features 19,200 square feet of retail space. Jake Malman and Sandy Feld of NAI Shames Makovsky represented the seller in the transaction.
ORLANDO, FLA. — SRS Real Estate Partners has negotiated the $22.7 million sale of seven single-tenant outparcels around Mall at Millenia in Orlando. The outparcels total 104,188 square feet and six were leased to retail tenants including BJ’s Brewhouse, DSW, Ethan Allen, Old Navy, Olive Garden and West Elm at the time of sale. The final outparcel is an office building that was leased to Ingenus Pharmaceuticals at the time of sale. Mall at Millenia comprises more than 1.1 million square feet and includes anchors such as Macy’s, Neiman Marcus and Bloomingdale’s. The property is located at 4200 Conroy Road, six miles southwest of downtown Orlando. Patrick Luther, Matthew Mousavi and Patrick Nutt of SRS, along with Gradon Willard of BluRock Commercial Real Estate, represented the undisclosed seller, which was the original developer of the property. Limestone Asset Management, an affiliate of Miami-based Orion Real Estate Group, acquired the portfolio.
BOSSIER CITY, LA. — Caesars Entertainment and Vici Properties have entered into an agreement to sell Harrah’s Louisiana Downs Casino, Racing & Entertainment for $22 million. The buyer, Rubico Acquisition Corp., will pay Vici $5.5 million and Caesars $16.5 million. The sale is expected to close by early 2021. The property is located at 8000 E. Texas St. in Bossier City, 10 miles east of downtown Shreveport. The casino floor offers 150,000 square feet of games, dozens of TVs and a high-limit area. Louisiana Downs also features a dirt horse-racing track. Louisiana Gov. John Bel Edwards ordered casinos to close in March due to the COVID-19 outbreak. Casinos in the state were allowed to reopen in May at limited capacity.
ARLINGTON, TEXAS — Dallas-based CONTI Organization has acquired Vine Apartments, a 420-unit community located at 711 Trinity Circle in Arlington. Built on 21 acres in 1980, the garden-style property consists of 23 three-story buildings housing one- and two-bedroom units. Amenities include a pool, fitness center, dog park, volleyball court and tennis courts. Daniel Baker and Chandler Sims of CBRE represented the undisclosed seller in the transaction. Including this transaction, CONTI’s portfolio consists of 31 multifamily properties totaling more than 9,000 units.
HOUSTON — Berkadia has brokered the sale of Scott Plaza, a 150-unit apartment community located in the Sunnyside neighborhood in south Houston. The property was built in 1970 and features an average unit size of 858 square feet. Scott Bray, Ryan Epstein and Jennifer Ray of Berkadia represented the seller, Scott Plaza Associates Ltd., in the transaction. LEDG Capital, an investment firm with five offices across the country, purchased the asset for an undisclosed price.
HOUSTON — Heavenrich & Co. has negotiated the $5.3 million sale of Villa Toscana at Cypress Woods, a 120-bed skilled nursing facility in northwest Houston. Villa Toscana was built in 2009 on an 80-acre medical campus, anchored by the Kelsey-Seybold Clinic. Heavenrich & Co. represented the sellers, national owner-operator StoneGate Senior Living and an unnamed, publicly traded REIT. The buyer was O&M Investments, a private equity firm focused on skilled nursing. Villa Toscana’s occupancy was 76 percent at the time of sale.
BRISTOL, PA. — Black Bear Sports Group, an owner of 18 sports facilities around the country, has acquired the Grundy Ice Arena in Bristol, about 20 miles north of Philadelphia. The arena, which frequently hosts youth hockey camps and tournaments throughout the year, features two ice sheets, an athletic training gym, café and a pro shop.
TERRE HAUTE, IND. — Gladstone Commercial Corp. has acquired a 153,600-square-foot distribution facility in Terre Haute for $10.6 million. The property was constructed as a build-to-suit for Clabber Girl Corp. in 2010 and is fully leased to the tenant. Terre Haute-based Clabber Girl manufactures baking powder, baking soda and corn starch. Jeff Castell of Cushman & Wakefield represented the undisclosed seller. The building features a clear height of 32 feet, nine dock doors and one drive-in door.
CHICAGO — The Boulder Group has brokered the sale of single-tenant CVS Pharmacy property in downtown Chicago for $4.9 million. The 8,781-square-foot store is located on the ground floor of a 180-unit condo building at 520 S. State St. Randy Blankstein and Jimmy Goodman of Boulder represented both the seller, a local real estate owner, and the buyer, a Southeast-based real estate investment firm. CVS has more than 10 years remaining on its lease.
SAN DIEGO — Longfellow Real Estate Partners has purchased Creekside, a three-building office property located in San Diego’s Sorrento Mesa submarket. The price was not disclosed. The acquisition brings Longfellow’s San Diego portfolio to more than 660,000 square feet spanning 23 buildings in the Sorrento Valley and Sorrento Mesa submarkets. The company plans to immediately convert 60,000 square feet of existing vacancy and eventually transition the entire 124,473-square-foot campus into state-of-the-art lab space. Creekside is part of Longfellow’s SOVA Science District campus — throughout which Longfellow is completing campus façade enhancements and an outdoor amenity space featuring murals by local artists that will be unveiled this fall. Creekside tenants will also have access to Elevate, Longfellow’s proprietary tenant amenities and hospitality offerings, including a fitness center, brewery, restaurant, coffee shop, programs and services. Louay Alsadek and Hunter Rowe of CBRE and Chris High and Steve Bruce of Newmark Knight Frank assisted with the transaction. Newmark Knight Frank will continue to represent Creekside as leasing agent for Longfellow.