NEW YORK CITY — Avison Young has brokered the $22.2 million sale of two adjacent apartment buildings in the Greenwich Village neighborhood of Manhattan. Located at 103 and 105 MacDougal St., the two seven-story buildings total 72 multifamily units with one- and two-bedroom floor plans. The properties span 39,000 square feet, and one building includes a 5,000-square-foot retail space. James Nelson, Brandon Polakoff, Alexandra Marolda and David Shalom represented the undisclosed seller in the transaction. Davean Holdings was the buyer.
HOLLYWOOD, CALIF. — Netflix has acquired the Egyptian Theatre, a historic property that was originally built in 1922 in Hollywood. Netflix and the American Cinematheque, which purchased the theater in 1996, are collaborating to redevelop and continue operations at the theater. The Egyptian Theatre will remain the home of the American Cinematheque, a nonprofit, member-supported cultural organization, with its curation team continuing to autonomously program Friday, Saturday and Sunday events and showings. Netflix will invest in the property’s renovation and will use the revitalized space for special events, screenings and premieres during the week. The movie theater was originally built in during the silent film era and was the site of the first Hollywood movie premiere — Robin Hood, starring Douglas Fairbanks. In 2016, the theater was retrofitted to screen 35mm nitrate films and is now one of only four theaters in the United States capable of showing this rare, ultra-fragile and flammable film stock. Farshad Morè and Scott Sherwood of Gibson Dunn & Crutcher represented American Cinematheque in the transactions. Terms of the acquisition were not released.
SANTA CLARA, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sale Marymount Place Apartments, a multifamily property comprising three adjacent buildings in Santa Clara. Adam Levin and Robert Johnston of Marcus & Millichap’s Levin Johnston team represented the undisclosed buyer and seller in the $24.7 million transaction. The portfolio includes: 1962 Bellomy St. — Built in 1961, the 37-unit property features a mix of studio, one-, two- and three-bedroom layouts. The community sold for $15.9 million. 1978 Bellomy St. — Developed in 1964, the 14-unit apartment building offers a mix of one-, two- and four-bedroom floor plans. The property sold for $6.1 million. 1972 Bellomy St. — Constructed in 1951, the eight-unit property features one-bedroom floor plans and sold for $2.7 million. The portfolio offers shared community amenities including on-site laundry facilities, a swimming pool and covered parking.
TUSTIN, CALIF. — CREST Properties has completed the disposition a medical office property located at 721 W. First St. in Tustin. of A Southern California-based private investor acquired the asset for $8.4 million. DaVita Healthcare occupies the entire 11,499-square-foot building. Ian Schroeder, Melissa Ley and Allison McDuffie of CBRE of represented the seller in the deal.
ROSEBURG, ORE. — Marcus & Millichap has arranged the sale of West Vue and Poplar Apartments, two multifamily communities located in Roseburg. A private seller sold the assets to a limited liability company for $4.6 million. Located at 731 and 857 NE Alameda Ave., West Vue was built in 1956 and contains 50 units in a mix of two- and three-bedroom layouts, while Poplar Apartments was built in 1965 and features 13 two-bedroom flats. Danalee Corso, Nygel Drury and Whitney Rhoades of Marcus & Millichap’s Portland office represented the seller and buyer in the deal.
WEST ST. PAUL, MINN. — Upland Real Estate Group Inc. has brokered the sale of a retail property occupied by Big O Tires in West St. Paul for $2.7 million. Constructed in 2001, the 7,554-square-foot building is located at 1973 S. Robert St. Buyer and seller information was not disclosed. West St. Paul is a first-ring suburb of St. Paul. There are more than 450 independently owned and operated Big O Tires locations in 23 states.
LAGO VISTA, TEXAS — Bellomy & Co. has brokered the sale of Texas Hills Storage, a 192-unit self-storage facility in Lago Vista, located about 35 miles northwest of downtown Austin. The property spans 28,500 net rentable square feet and includes climate- and non-climate-controlled space. Bill Bellomy and Michael Johnson of Bellomy represented the locally based seller and procured the Arlington, Texas-based buyer in the deal.
NASHVILLE, TENN. — Capstone Apartment Partners has negotiated the sale of 83 Freight, a planned 83-unit multifamily community being built using shipping containers in Nashville. When complete, the community will offer rooftop balconies, as well as studio, one- and two-bedroom floor plans ranging in size from 320 to 1,280 square feet. The property is situated within Nashville’s Wedgewood-Houston neighborhood, which was historically an industrial district. Now the area is being reimagined and will include the 27,500-seat soccer stadium for the MLS’ Nashville SC. The seller, FMBC Investments, expects to deliver 83 Freight this summer. Adam Klenk, Jonathan Hawks, Tyler Mayo and Austin Heithcock of Capstone represented the seller in the transaction. The undisclosed buyer acquired the property for more than $11 million.
FORT MYERS, FLA. — SRS National Net Lease Group has arranged the $4.7 million sale of a retail property leased to 7-Eleven in Fort Myers. The property comprises a 2,961-square-foot convenience store and a gas station. A 15-year lease is in place with 7-Eleven Inc. for the property, which was completed in late 2019. The asset is situated at 6715 Winkler Road, seven miles south of downtown Fort Myers. Parker Walter of SRS represented the buyer, a California-based private investor that was in a 1031 exchange, in the transaction. Frank Rogers and Michael Carter of SRS represented the seller, an undisclosed Florida-based developer.
CUYAHOGA FALLS, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $46 million sale of The Plaza at Chapel Hill in Cuyahoga Falls, about 35 miles south of Cleveland. The 458,935-square-foot shopping center is home to Giant Eagle, Burlington and Dick’s Sporting Goods. Scott Wiles, Erin Patton, Craig Fuller, Joseph French Jr. and CJ Jackson of IPA represented the seller, a New York City-based private real estate investment trust. A partnership between Baltimore-based America’s Realty LLC, New York-based Borough Equities and Miami-based Dragonfly Investments purchased the asset. The center was 90 percent occupied by 26 tenants at the time of sale. It was built in several phases between 1985 and 2013. Chris Nevin of First National Bank originated acquisition financing.