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Acquisitions

Hanover-Crossing-Residences
AcquisitionsMassachusettsMultifamilyNortheast

Hanover Co. Sells 297-Unit Apartment Complex in Hanover, Massachusetts

by Taylor Williams

HANOVER, MASS. — Houston-based owner-operator The Hanover Co. has sold a 297-unit apartment complex in Hanover, located southeast of Boston. Hanover Crossing Residences was built in 2023 and comprises four four-story buildings that house one-, two- and three-bedroom units with an average size of 934 square feet. Amenities include a pool, entertainment kitchen and social lounge, fitness center, coworking space and outdoor grilling and dining areas. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller in the transaction. The buyer was an affiliate of AEW Capital Management. The sales price was not disclosed.

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AcquisitionsMassachusettsMultifamilyNortheast

Marcus & Millichap Brokers $3.4M Sale of Metro Boston Apartment Building

by Taylor Williams

WALTHAM, MASS. — Marcus & Millichap has brokered the $3.4 million sale of a nine-unit apartment building located in the western Boston suburb of Waltham. The building at 9-19 Brown St. houses a mix of one- and two-bedroom apartments and three-bedroom townhouses, as well as six rentable garages. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsIndustrialMaineNortheast

Colliers Negotiates Sale of 24,280 SF Industrial Complex in Berwick, Maine

by Taylor Williams

BERWICK, MAINE — Colliers has negotiated the sale of a 24,280-square-foot industrial complex in Berwick, located on the Maine-New Hampshire border. The sales price was $1.9 million. The property consists of two buildings on an 8.4-acre site that were 76 percent leased to four tenants at the time of sale. Andrew Ward and Tim Braseth of Colliers represented the seller, Mick Construction Corp., in the transaction.

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Pearl-St-Rose-Las-Vegas-NV
AcquisitionsMultifamilyNevadaWestern

MG Properties Acquires 270-Unit Multifamily Property in Las Vegas for $64M

by Amy Works

LAS VEGAS — MG Properties has acquired The Pearl at St. Rose, a multifamily community in Las Vegas’ Silverado Rancho master-planned community, from an affiliate of The CONAM Group for $64 million. Charles Steele, John Cunningham and Jared Glover of Berkadia represented the seller. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing through Freddie Mac. Situated along the St. Rose Corridor in South Las Vegas, The Pearl at St. Rose offers 270 apartments with spacious floor plans and modern interior finishes. Community amenities include a pool and spa, fitness center, dog park and resident clubhouse. The property was built in 2000.

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Alvera-Meadows-American-Fork-UT
AcquisitionsMultifamilyUtahWestern

Gelt Venture Partners Buys 142-Unit Apartment Community in American Fork, Utah

by Amy Works

AMERICAN FORK, UTAH — Gelt Venture Partners has acquired Alvera at the Meadows, an apartment property in American Fork, from a joint venture between Woodbury Corp., Garbett Homes and Cirrus Group for an undisclosed price. Brock Zylstra and Danny Shin of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA Capital Markets arranged acquisition financing for the buyer. Completed in 2021, Alvera at the Meadows features 142 apartments, a resort-style swimming pool with lazy river, a 24-hour workout facility, sauna, steam room and game room. Apartments offer keyless entry, vaulted or nine-foot ceilings, washers/dryers and private balconies or patios.

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1370-1380-Holiday-Lane-Fairfield-CA
AcquisitionsCaliforniaRetailWestern

Partnership Negotiates Sale of 24,604 SF Retail Center in Fairfield, California

by Amy Works

FAIRFIELD, CALIF. — A partnership between Faris Lee Investments and John Cumbelich & Associates has negotiated the sale of a 24,604-square-foot, two-building retail center located at 1370-1380 Holiday Lane in Fairfield. Built in 2005 on 2.3 acres, the center is roughly 42 percent occupied. Tenants include Aspen Dental, Peet’s Coffee & Tea, Togo’s Sandwich Shop and Golden 1 Credit Union. Additionally, the center features an anchor space totaling 14,375 square feet, which is currently unleased. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee, along with John Cumbelich and Joe Kuvetakis of John Cumbelich & Associates, represented the undisclosed seller in the transaction.

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AcquisitionsCaliforniaRetailWestern

Shopoff Realty Investments Sells Final Retail Parcel at Sunrise Village in Fullerton, California for $2.5M

by Amy Works

FULLERTON, CALIF. — Shopoff Realty Investments has sold the last remaining retail parcel at Sunrise Village, a 14-acre neighborhood shopping center located in the Orange County city of Fullerton, for $2.5 million. The recently sold property totals nearly half an acre and houses a veterinary clinic. The unused space at the parcel will be transformed into a fast-casual Korean restaurant. The remaining retail parcels at the property were previously sold to separate owners. The first parcel sale included a 1.4-acre corner retail space, which featured a drive-thru Del Taco and three adjacent retail pads. The other two retail parcels totaled roughly 1 acre apiece. Lennar Homes purchased The Pines at Fullerton, the 9.9-acre residential portion of Sunrise Village, in October 2023, with plans to build 113 homes. Construction is already underway on the site, with the first set of homes scheduled for delivery in 2026. Shopoff originally acquired the shopping center in 2021 for $26.5 million and secured approvals to redevelop the property into a mixed-use center with service-based tenants and housing options.

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AcquisitionsIllinoisMidwestRetail

Continuum Development Buys Church Street Plaza Retail Complex in Evanston, Illinois for $31.2M

by Kristin Harlow

EVANSTON, ILL. — Continuum Development has acquired Church Street Plaza, a 144,833-square-foot retail complex in Evanston, for $31.2 million. Located at 900-950 N. Church St., the property spans a full city block with immediate access to CTA and Metra rail lines and is situated approximately a half mile from Northwestern University. Built in 2000 and redeveloped in 2023, the asset is 98 percent leased with tenants including a 12-screen AMC movie theater, Sky Zone indoor entertainment park and other stores and restaurants. Earlier this year, Continuum proposed the addition of a 27-story, 358-unit multifamily tower on the northwest corner of Church Street Plaza.

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AcquisitionsIllinoisMidwestRetail

JLL Arranges $21.1M Sale of Levee District Shopping Center in East Peoria, Illinois

by Kristin Harlow

EAST PEORIA, ILL. — JLL Capital Markets has arranged the $21.1 million sale of The Levee District, a 137,304-square-foot open-air shopping center in East Peoria. Michael Nieder and Brian Page of JLL represented the seller, Cullinan Properties Ltd., and procured the buyer, Chase Properties. Developed in 2013, the retail power center consists of three buildings that are 94 percent leased. Anchor tenants include Ulta, Best Buy, Ross Dress for Less and Boot Barn. The Levee District is the most trafficked shopping center in a 50-mile radius with more than 4 million annual visitors, according to JLL.

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AcquisitionsHealthcareTexas

Woodside Health, Heitman Acquire 60,000 SF Medical Office Building in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Woodside Health, a private equity healthcare real estate firm based in Cleveland, has acquired Sugar Land Physicians Center, a 60,000-square-foot medical office building located southwest of Houston. The three-story building was completed in 2014, according to LoopNet Inc. Woodside purchased the asset in a joint venture with global investment manager Heitman. The seller and sales price were not disclosed.

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