CHAMBERSBURG, PA. — Kislak Co. Inc. has brokered the $5 million sale of Coldbrook Meadows Apartments, a 62-unit multifamily complex in Woodbridge, approximately 50 miles southwest of Harrisburg. Located at 740-780 Cumberland Ave., the 79,000-square-foot property includes three buildings with 10 one-bedroom, 44 two-bedroom and eight three-bedroom units. The property was constructed in 1970. Matt Wolf of Kislak Co. represented the undisclosed seller in the transaction. Wolf also procured the buyer, a private investor.
LOS ANGELES — Kelly Morgan Commercial Group at KW Commercial has arranged the sale of Valerio Village Apartments, a multifamily property in Los Angeles. A San Diego-based private investor acquired the property for $19.2 million, or $200,337 per unit. The seller was not disclosed. Located in the Van Nuys neighborhood, Valerio Village Apartments features 96 units.
ROSEBURG, ORE. — Marcus & Millichap has negotiated the sale of Vista & Terrace Apartments, a multifamily complex in the Southern Oregon city of Roseburg. A private investor sold the property to a limited liability company for $3.6 million. Danalee Corso, Nygel Drury and Whitney Rhoades of Marcus & Millichap’s Portland, Ore., office represented the seller and buyer in the deal. Located at 600 N.E. Polk St., Vista & Terrace Apartments features 56 units in a mix of one-, two- and three-bedroom layouts. The property was constructed in 1948.
IMPERIAL COUNTY, CALIF. — Cushman & Wakefield has arranged the sale of a 120-acre, industrial-zoned land property in Imperial County through a process run by Ritchie Bros. Auctioneers. ADJ Holdings acquired the property from Ralph Road LLC for $1.8 million. Located at 340 Ralph Road, the property features a seven-car retail spur on the Union Pacific line, plus approximately three quarters of a mile of additional track that could be installed on the property to expand the train component. Approximately 75 acres of the site has chain link perimeter fencing with two main access gates and a third gate at the rail spur. ADJ Holdings purchased the property as an investment and will begin seeking tenants for the industrial facility. Matt Davis and Terry Jackson of Cushman & Wakefield’s Land Advisory Group in San Diego brokered the deal.
WICHITA, KAN. — Capstone Manufactured Housing has arranged the sale of a three-park manufactured housing portfolio in Wichita for $20 million. The portfolio includes Lamplighter, Fishin’ and River Oaks. Each of the three communities includes a clubhouse, swimming pool and basketball courts. Kevan Enger, Ian Hilpl and Brian Hummell of Capstone represented the seller, Park Street Partners. A California-based operator purchased the portfolio.
BELLEVILLE, ILL. — Barber Murphy has brokered the sale of a 14,900-square-foot office and retail building in Belleville, about 17 miles southeast of St. Louis. The sales price was undisclosed. Okaw Valley Council Boy Scouts of America sold the property, which is located at 335 W. Main St. Jarvis Cos. Inc. was the buyer. Barber Murphy represented both parties in the transaction.
EVERGREEN PARK, ILL. — Marcus & Millichap has arranged the $1.4 million sale of Evergreen Park Towne Center in Evergreen Park, about 15 miles south of Chicago. The 7,785-square-foot retail property is located at 8730 S. Kedzie Ave. Tenants include Boost Mobile and Edible Arrangements along with a cigar shop, restaurant and nail salon. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the building on behalf of the seller, a private investor. A local buyer completing a 1031 tax-deferred exchange purchased the asset.
AUSTIN, TEXAS — Rastegar Property Co., a private real estate owner and developer, has purchased two parcels in South Austin for the development of a new mixed-use project. The sites are located at 505 and 507 W. Live Oak St. and are the final leg of a 2.5-acre land assemblage that began with Rastegar’s purchase of a site last September. In January, the company bought two sites at 508 and 511 W. Live Oak St. that totaled a little more than a half-acre for an undisclosed price. The new development will sit at the corner of South 1st Avenue and West Live Oak Street near Barton Springs Road. The site is a few blocks from South Congress Avenue, as well as Austin’s central business district. Michael McKinley of St. Croix Capital represented Rastegar in the latest land transaction. “Once we secured the hard corner, things began to fall into place,” says McKinley. “All parties worked diligently to overcome obstacles related to COVID-19 in order to complete this 2.5-acre assemblage, due to the high demand for development sites in Austin’s urban core.” While still in the planning stages, Rastegar has disclosed that the property will include residences, entertainment uses and a …
LITTLE FERRY, N.J. — Venture One Real Estate has acquired a 31,222-square-foot industrial building in Little Ferry, a northwestern suburb of New York City. Located at 3 Alsan Way, the single-tenant building was constructed in 1970 and features four exterior docks and parking for 35 vehicles. Venture One will implement a capital improvement plan that will feature office renovations, fresh paint jobs and the installation of LED lights. Jeff Chaus and Brian Scheuer of Chaus Realty LLC represented Venture One in the transaction. Justin Kang of Good Neighbor Realty represented the undisclosed seller.
NORWALK, CONN. — Northeast Private Client Group (NPCG) has brokered the $17 million sale of Point Rock Apartments, a 54-unit luxury multifamily property in Norwalk, an eastern suburb of Stamford. Located at 34 Oakwood Ave., the property offers one- and two-bedroom floor plans and amenities including a fitness center and resident clubhouse. The four-story building was constructed in 2015. Brad Balletto, Rich Edwards and Jeff Wright represented the seller, a Connecticut-based developer, in the transaction. The team also procured the buyer, a New York-based investor. Both parties requested anonymity.