UVALDE, TEXAS — Marcus & Millichap has brokered the sale of a 40,000-square-foot retail property in Uvalde, located about 85 miles west of San Antonio. The property currently houses Tractor Supply Co. and Dollar General. Philip Levy of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a personal trust. Both parties requested anonymity.
SAGINAW, MICH. — Greystone Bel Real Estate Advisors has arranged the $4 million sale of The Poplars Apartments in Saginaw, approximately 75 miles north of Lansing. Built in 1964, the 105-unit apartment property is located at 4444 State St. The family-owned asset features a swimming pool, patio tables and lounge seating. Austin Hull of Greystone Bel represented both parties in the sale.
KINGDOM CITY, MO. — Mumford Co. has negotiated the sale of a 60-room Super 8 hotel in Kingdom City, approximately 25 miles east of Columbia. The sales price was not disclosed. The three-story property is located near I-70. George Arvanitis of Mumford represented the seller, CapeInn LLC, and procured the buyer, Americas Value Inn LLC. The buyer intends to rebrand the property as Amerihost Inn & Suites.
VILLA PARK, ILL. — Marcus & Millichap has brokered the $1.5 million sale of a 7,800-square-foot property net leased to Service King in Villa Park, about 20 miles west of Chicago. The building is located at 724 N. Ardmore Ave. and has a corporate guarantee from Service King, a collision repair center. Andrew Antoniou, Domini Sulo and Chad Lieber of Marcus & Millichap represented the seller, an individual trust. The team also secured and represented the buyer, an out-of-state limited liability company that completed a 1031 tax-deferred exchange.
LOS ANGELES — The Neema Group at Marcus & Millichap has brokered the sale of a 26-property, 642-unit multifamily portfolio sale in Los Angeles for a total value of $102 million. The private seller, a plastics broker that also invested in the multifamily sector, hired the Neema Group in early 2019 to market five of his properties for sale. Golden Bee Properties purchased the assets, which are located throughout the South Los Angeles and Panorama City neighborhoods, for $18.7 million. During the escrow process, the owner passed away and left control of the remaining portfolio to his trustees, who continued to work with the Neema Group. The remaining 21 properties were strategically divided into packages based on location, age and type. Cipolla Revocable Living Trust purchased three buildings totaling 62 units for $8.7 million. The properties, built between 1929 and 1960, are located within a mile of each other in Wilmington. An undisclosed buyer acquired eight buildings totaling 175 units, all located in Mid-City, for $33.5 million. Lastly, an undisclosed buyer purchased the Armor Collection for $42 million. It features 10 buildings constructed between 1912 and 1954. The 300 units are situated within two miles of each other in the …
COLUMBIA, MD. — KLNB has arranged the $14.5 million sale of Mike’s Train House, a 123,000-square-foot warehouse in Columbia. The property is situated at 7020 Columbia Gateway Drive within the Columbia Gateway Business Park. Mike’s Train House is the only distribution center within the park. The building offers 20-foot clear heights and the option to add more loading doors. Chris Kubler and Don Schline of KLNB represented the seller, MPW Enterprises LLC, in the transaction. The buyer was not disclosed.
WAYNE, N.J. — A partnership between New Jersey-based developer Endurance Real Estate Group LLC and California-based Pacific Coast Capital Partners LLC (PCCP) has acquired the Southern New Jersey core infill portfolio for $43 million. The warehousing and distribution portfolio includes seven buildings across Swedesboro, Delran and Mount Laurel totaling 553,548 square feet. At the time of sale, the portfolio was 88 percent leased to 22 tenants, including Food Sciences Inc., Carnegie Pharmaceuticals LLC and The Jewelry Group. Scott Mertz of NAI Mertz represented the buyer in the transaction. Michael Hines and Brad Ruppel led a CBRE team that represented the undisclosed seller.
PORTER, TEXAS — EDGE Realty Partners has negotiated the sale of Shops at Porter, a 30,338-square-foot retail center located at 23611 Highway 59 N. in Porter, a northeastern suburb of Houston. Micha van Marcke and Chace Henke of EDGE represented the seller, SDI 59 Porter LLC, in the transaction. The buyer and sales price were not disclosed.
BROOKLYN CENTER, MINN. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed building occupied by Bank of America in Brooklyn Center, a northern suburb of Minneapolis, for $2.7 million. The 4,370-square-foot property, which opened in late 2019, is situated on one acre at 2545 County Road 10. Jeff Lefko and Bill Asher of Hanley represented the seller and developer, Minneapolis-based Told Development. Carlos Aguilar of Axia Real Estate Group represented the New Jersey-based private buyer.
MODESTO, CALIF. — The Mogharebi Group (TMG) has facilitated the sale of The Commons Apartments and Summerview Apartment Homes in Modesto. A Southern California-based investor sold the assets to a Bay Area-based private investor for $39.6 million. Built on a 4.33-acre site in 1989, the 100-unit The Commons is located at 1600 Standiford Ave., while the 136-unit Summerview is situated on 5.03 acres at 3601 Prescott Road. The properties feature a variety of amenities, including swimming pools, hot tub, 24-hour fitness centers and reserved covered parking. Alex Mogharebi and Otto Ozen of TMG represented the seller in the deal.