CHICAGO — Kiser Group has brokered the $3.9 million sale of an 11-unit property located at 1756 W. North Ave. in Chicago’s Wicker Park neighborhood. The property consists of three commercial spaces and eight apartments. Gut-renovated in 2020, the building features updated plumbing, electrical, roofing, windows and interiors. The asset was fully occupied at the time of sale. Jake Parker, Andy Friedman and Viktor Radzieta of Kiser brokered the transaction. The property sold to an all-cash buyer.
DALLAS — Marcus & Millichap has brokered the sale of Infinity on the Point, a 249-unit apartment complex in North Dallas. According to Apartments.com, the property offers one- and two-bedroom units. Amenities at the three-story, garden-style property include a pool, sundeck, grilling stations, dog park, fitness center, package lockers and covered parking. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap, along with Drew Kile, Taylor Hill, Joey Tumminell, Michael Ware and William Hubbard of Marcus & Millichap’s Institutional Property Advisors (IPA) division, represented the seller, a California-based investment company, in the transaction. The team also procured the buyer, Reap Capital, which plans to rebrand the property as The Creekside at Vantage.
DALLAS — Newmark has arranged the sale of 8020 Park Lane, a 120,923-square-foot office building located within The Shops at Park Lane mixed-use district in North Dallas. Built in 2015, the five-story building was fully leased at the time of sale to Energy Transfer LP. Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan of Newmark represented the seller, Northwood Investors, in the transaction. Andrew Porteous, Clint Frease, Chris McColpin and Josh Francis, also with Newmark, arranged acquisition financing on behalf of the buyer, DFW Land.
INDIANAPOLIS — Colliers has negotiated the sale of a six-building industrial portfolio totaling 954,072 square feet throughout the Northwest, Northeast and Southwest submarkets of metro Indianapolis. The assets are located in Indianapolis, Fishers and Plainfield. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Jason Speckman, Jimmy Cohoat and Andrea Hopper of Colliers represented the seller, EQT. Wisconsin-based MLG Capital was the buyer. The portfolio was 90 percent leased to 10 tenants at the time of sale with a weighted average lease term of 4.6 years. Suite sizes range from approximately 24,000 square feet to more than 260,000 square feet. Roughly 40 percent of the square footage is leased to investment-grade tenants. Four of the six assets are located within Park 100, one of the largest industrial parks in Indianapolis.
MUNDELEIN, ILL. — Marcus & Millichap has arranged the nearly $14 million sale and financing of a LA Fitness-anchored, four-suite retail property in Mundelein. Austin Weisenbeck and Shean Sharko of Marcus & Millichap marketed the property on behalf of the seller, an experienced real estate investor and developer in Chicagoland. The Sharko | Weisenbeck | Mendoza Group also procured the out-of-state buyer, which completed a 1031 exchange. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $9.8 million in acquisition financing through a regional lender. The 89,357-square-foot shopping center is situated on 7.5 acres at 1555 S. Lake St. Built in 2019, the property is home to Kids Empire, The Dog Stop and The Picklr Club. The asset is part of Townline Square Shopping Center.
JACKSON, MISS. — Newmark has arranged the sale of Highland Village, a 217,589-square-foot shopping center located at 4500 I-55 N in Jackson. Mississippi’s only Whole Foods Market anchors the 14.5-acre property, which was originally developed in 1960 and redeveloped in 2017 by the seller, WS Development. Charlotte-based Asana Partners purchased the shopping center for an undisclosed price. Conor Lalor of Newmark represented the seller in the transaction. Highland Village was approximately 90 percent leased at the time of sale to tenants including Free People, Kendra Scott, lululemon and Maison Weiss.
ARLINGTON, VA. — Berkadia has negotiated the sale of The Commodore, a 20-story high-rise apartment tower located at 2055 15th St. N in Arlington. GID purchased the community for an undisclosed price. Brian Crivella, Yalda Ghamarian, Bill Gribbin and Jack Canepa of Berkadia represented the seller, Charleston-based Greystar, in the transaction. Built in 2023 in Arlington’s Court House neighborhood, The Commodore features 423 luxury apartments and 18,461 square feet of ground-level retail space. Units come in studio, junior one-bedroom, one-bedroom, junior two-bedroom, two-bedroom, two-bedroom den and penthouse layouts. Amenities include a clubroom, demonstration kitchen, coworking spaces, fitness center and yoga studio, children’s art studio, pet spa, resort-style pool, rooftop terrace, landscaped courtyards and multiple indoor-outdoor gathering spaces.
GRENADA, MISS. — Marcus & Millichap has brokered the sale of Riverbirch Plaza, a 99,097-square-foot shopping center located at 1201-1231 Sunset Drive in Grenada, which is roughly midway between Jackson, Miss., and Memphis via I-55. Built in 1976, the shopping center is situated on 9.5 acres and was fully leased at the time of sale to 11 tenants, including Harbor Freight, Dollar General and The UPS Store. Mickey Davis, Chris Leppanen and Davis Owen of Marcus & Millichap represented the seller, Action Properties, which has owned Riverbirch Plaza for the past 12 years. Davis, who is Marcus & Millichap’s broker of record in Mississippi, also procured the locally based buyer, Delta Farms LLC.
GARDEN GROVE, CALIF. — Eagle Real Estate Partners and The Vistria Group have acquired Crystal View Apartments, a 402-unit mixed-income workforce housing community in Garden Grove. An undisclosed seller sold the asset for $132.5 million. Through the acquisition, Eagle and Vistria plan to extend affordability for 20 percent of the community’s units restricted to households earning up to 50 percent of area median income (AMI) and establish new long-term affordability restrictions for an additional 30 percent of units at 80 percent of AMI. Crystal View Apartments features garden-style units, 555 parking spaces, onsite resident services, a resort-style pool, fitness center and a sports complex. The property was built in 1968 and renovated in 2012. Geoff Boler and Jonathan Merhaut of Newmark handled the transaction.
CARLSBAD, CALIF. — CBRE has negotiated the $45 million sale of 2081 Faraday Avenue, an industrial corporate headquarters facility in Carlsbad. Majestic Asset Management acquired the property, which was fully leased at the time of sale, from an undisclosed investment and management company. Hunter Rowe, Barbara Perrier, Michael Longo and Matt Carlson of CBRE represented the seller in the deal. Val Achtemeier of CBRE Capital Markets Debt & Structured Finance secured financing for the buyer. Built in 1997, the 157,973-square-foot facility has undergone significant capital and tenant improvements, including “high-end” interior finishes and upgraded amenities designed to support corporate headquarters operations. Situated on 9 acres, the facility features a stadium-style LED video board, an outdoor sport court, 26-foot clear heights, heavy power and dock-high and grade-level loading.