13,556-square-foot residential development site at 3602 Holland Ave. in the Williamsburg neighborhood of Brooklyn. The property is zoned for the development of a 20-unit multifamily building. Menachem Babayov of Westbridge Realty represented the buyer, SHG 3602 LLC, and Steven Westreich represented the seller, Chukwuemeka Dike.
BATAVIA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 488,571-square-foot industrial building located at 601-605 Kingsland Drive in Batavia. The purchase price was undisclosed. The building is fully leased to two tenants. Constructed in 1996, the property was expanded in 2002. It sits on 26.9 acres and features 25 exterior docks, three drive-in doors and parking for 414 cars. There is an additional 7.3 acres on the site that can accommodate more car parking, truck parking or a 132,737-square-foot building expansion. Jeff Devine and Steve Disse of Colliers International represented the undisclosed seller. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.
HURST, TEXAS — Senior Living Investment Brokerage (SLIB) has brokered the sale of Bishop Davies Nursing Care Center, a 161-bed skilled nursing facility in Hurst, located between Dallas and Fort Worth. An owner-operator looking to exit the industry sold the property to a regional seniors housing owner-operator from Louisiana for $8 million. The 70,000-square-foot facility sits on a 5.2-acre lot and was 74 percent occupied at the time it was listed.
TUCSON, ARIZ. — NAI Horizon has arranged the sale of a fully occupied medical building, located at 535 N. Wilmot Road in Tucson. 535 Wilmot Investors, an affiliate of The Schomac Group, sold the property to AP MP, an affiliate of MBRE Health Care, for $11.5 million. Banner Health occupies the 40,936-square-foot medical building on a long-term basis and recently renewed its lease for another 10 years. Justin Lanne and Andrew Sternberg with NAI Horizon’s Tucson represented the seller in transaction.
NEW YORK CITY — Global One Real Estate Fund II, an affiliate of locally based investment firm Nelson Management Group, has acquired The John Adams, 115-unit apartment building in the Forest Hills neighborhood of Queens. The sales price was $26.5 million. The six-story building offers proximity to several public transit lines and amenities such as bike storage space, package lockers and onsite laundry facilities. The seller was not disclosed.
MESA, ARIZ. — Marcus & Millichap has arranged the purchase of Sunland North, an age-restricted apartment complex located at 4740 E. Broadway Road in Mesa. A developer acquired the property from an undisclosed seller for $5 million. Built in 1984, the 35,000-square-foot property features 23 one-bedroom/one-bath units and 22 two-bedroom/one-bath units for residents age 55 or older. All units feature washer/dryer hookups and patios. Community amenities include a swimming pool, office, storage sheds and covered parking. Paul Bay of Marcus & Millichap’s Phoenix office procured the buyer in the deal.
ORANGE, CONN. — Marcus & Millichap has brokered the $7.2 million sale of an 84,200-square-foot retail property in Orange, a southern suburb of New Haven. The property is situated on eight acres and is net leased to Urban Air Adventure Park, an entertainment concept that features trampolines, zip lines, laser tag and virtual reality games. Derrick Dougherty and Mark Krantz of Marcus & Millichap represented the seller, Bull Hill Associates, in the transaction. Brian Kaplan, also with Marcus & Millichap, represented the buyer, a limited liability company.
ORANGE, CONN. — Locally based brokerage firm Pearce Real Estate has negotiated the sale of 70 percent of the medical condominium units at Springbrook Common, a 35,000-square-foot medical office complex in the New Haven suburb of Orange. The property was built in 2008 and is leased to tenants such as U.S. Renal Dialysis, Physical Therapy & Sports Medicine and the Connecticut Kidney Center. Carl Russell of Pearce Real Estate represented the seller, a partnership between Springbrook Common LLC and Lakehouse Properties LLC, in the transaction. Nick Mastrangelo and Tom Cavaliere of Coldwell Banker represented the buyer, Water Street Management LLC.
ARVADA, COLO. — NAI Shames Makovsky has arranged the sale of retail building located at 5805 Independence St. in Arvada. RHB Arvada sold the property to JBM20 for $1.6 million. The building features 1,808 square feet of retail space. Jake Malman and Evan Makovsky of NAI Shames Makovsky represented the buyer in the deal.
BIG RAPIDS, MICH. — The Boulder Group has brokered the $1.8 million sale of a 24,034-square-foot property occupied by Harbor Freight in Big Rapids, about 60 miles north of Grand Rapids. The single-tenant building is located at 408 Perry Ave. Harbor Freight, a discount tool retailer, recently signed a 10-year lease for the newly renovated building. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based real estate firm. A Midwest-based buyer purchased the asset.