OCEANSIDE, N.Y. — Sunrise Senior Living has acquired a 2.8-acre development site in the Long Island community of Oceanside for $7.5 million, with plans to develop an 84-unit assisted living and memory care facility. Kelly Koukou of Lee & Associates represented Sunrise in the land acquisition. Marlon Matza of Strategic Realty Advisors represented the seller, a partnership between Grossman Nurseries and Breslin Development. A construction timeline was not disclosed.
ALPHARETTA, GA. — Crescent Real Estate LLC has sold The Hotel at Avalon, a 330-room hotel within the Avalon mixed-use campus in Alpharetta, a northern suburb of Atlanta. A joint venture featuring Austin-based Endeavor Real Estate Group purchased the hotel for $220 million, according to Atlanta Business Chronicle. Fort Worth, Texas-based Crescent has owned the hotel, which was delivered in 2018, since September 2020. Eastdil Secured represented Crescent in the disposition. HEI Hotels & Resorts was The Hotel at Avalon’s previous operator.
RINGGOLD, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built McDonald’s restaurant located in Ringgold, a Georgia suburb of Chattanooga, Tenn. The restaurant was delivered earlier this year and features a 20-year lease with 7.5 percent rent increases in the initial term and extension options. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group brokered the transaction. An all-cash buyer purchased the restaurant from the seller, a repeat developer of McDonald’s, in a 1031 exchange. The sales price was not disclosed. “Lower-priced, well-located properties with strong credit continue to command aggressive pricing despite market challenges,” says McMinn. “We secured an offer within 48 hours and closed near list price — proof that price point matters as much as credit in today’s market.”
DENVER — PAULS has purchased Regency Plaza, a 15-story office tower located at 4643 S. Ulster St. in Denver Tech Center, from Granite Properties for an undisclosed price. The acquisition marks a return of ownership for Regency Plaza, which was previously owned by PAULS. Originally built in 1985 and repositioned in 2020, Regency Plaza offers 335,908 square feet of office space that is 83 percent leased, with more than 176,000 square feet of new leases executed since early 2024. The asset features a renovated lobby, an outdoor plaza, a fitness center, training facility and an onsite restaurant/market. Tim Richey and Jack Richey of Newmark represented the seller in the deal. Collegiate Peaks Bank, a division of Glacier Bank, provided acquisition financing with a fixed-rate loan. Colliers will continue to handle leasing for the property.
LACEY, WASH. — CBRE has directed the sale of Chambers Reserve, a townhome property in Lacey. The asset traded for $53 million. The names of the seller and buyer were not released. Jordan Louie, Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE represented the seller in the transaction. Located at 3725 Wildspitz St. SE, Chambers Reserve offers 125 three- and four-bedroom townhome floor plans, with an average unit size of 1,736 square feet, spread across 23 residential buildings. Community and unit amenities include two-car garages, private decks, air conditioning, quartz countertops, stainless steel appliances, a 24-hour fitness center, a seasonal swimming pool and a clubhouse.
PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Astor at Osborn, a mid-rise multifamily property in Phoenix. The asset traded for $47.8 million, or $250,262 per unit. Steve Gebing and Cliff David of IPA represented the undisclosed seller and undisclosed buyer in the deal. Completed in 2019, The Astor at Osborn features 191 apartments, garage parking, a resort-style swimming pool, fitness center, clubroom and outdoor grilling stations. The property offers a mix of studio, one-, two- and three-bedroom apartments.
CHICAGO — Greenstone Partners has arranged the $3.2 million sale of a three-story, 4,650-square-foot property located at 1560 N. Damen Ave. in Chicago’s Wicker Park. The ground-floor retail space is occupied by Stan’s Donuts & Coffee, a regional bakery that has operated at the location since its founding in 2013. The upper floors include two large apartment units. Danny Spitz and Brewster Hague represented the seller and procured the private buyer.
UPPER MARLBORO, MD. — Cushman & Wakefield has negotiated the $56.6 million sale of a 202,976-square-foot industrial facility located at 8511 Pepco Place in Upper Marlboro, a suburb of Washington, D.C., in Prince George’s County. Stockbridge acquired the property from TA Realty. Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check of Cushman & Wakefield represented TA Realty in the transaction. The facility features a 190-foot truck court, 26 dock doors, two drive-in doors, 218 parking spaces and approximately 75 trailer positions. The property is fully leased to Harris Co., a mechanical contractor for the data center industry. The tenant also occupies 75,000 square feet at the neighboring 8520 Pepco Place.
BOONE, N.C. — Miami-based Orion Real Estate Group has acquired Watauga Village, an 88,800-square-foot neighborhood shopping center located in Boone, a city in western North Carolina and home of Appalachian State University. Adam Russ, Erin Varol and Will Register of CBRE represented the undisclosed seller in the $26.1 million transaction. Food Lion anchors the property, which was fully leased at the time of sale to tenants including Michaels, Mercy Urgent Care, Spectrum, Tropical Smoothie Café and Wingstop. Orion currently owns or manages an additional 23 properties totaling 101,583 square feet throughout North Carolina, which are all single-tenant, triple-net properties. Watauga Village is the firm’s first shopping center acquisition in the state.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $75 million sale of two Section 8 apartment buildings totaling 126 units in Manhattan. The properties are located at 200 Manhattan Ave. and 133 W. 104th St. in the Manhattan Valley area on the borough’s Upper West Side. Victor Sozio, Shimon Shkury and Remi Mandell of Ariel represented the undisclosed seller in the transaction. The name and representative of the buyer were also not disclosed.