MILFORD, N.H. — JLL has negotiated the sale of Lordens Plaza, a 148,102-square-foot shopping center in Milford, a small town near Nashua just inside New Hampshire’s southern border. Shaw’s Supermarket anchors the property, which is located at the intersection of State Routes 101 and 101A. Other tenants include Rite Aid and Fresenius Medical Care. Nat Heald and Chris Angelone led the JLL team on behalf of the seller, LNR. Seattle-based Bridge33 Capital was the buyer.
EL PASO, TEXAS — Greysteel has arranged the sale of Las Lomas Apartments, a 232-unit multifamily asset in El Paso. The property is located adjacent to several entertainment concepts, including Topgolf, Alamo Drafthouse Cinema and iFly indoor skydiving facility. Jack Stone, Doug Banerjee and Andrew Hanson of Greysteel represented the Chicago-based seller and procured the California-based buyer in the transaction.
DALLAS — Sperry Commercial has brokered the sale of Stemmons Center, a 42,594-square-foot shopping center located at 2629 N. Stemmons Freeway in Dallas. According to LoopNet Inc., the property was built on 4.4 acres in 1979. Calvin Wong and Daniel Eng of Sperry Commercial represented the buyer and the seller, both of which requested anonymity, in the transaction.
HOUSTON — Local multifamily investment firm Three Pillars Capital Group has purchased Camino Del Sol, a 122-unit multifamily community in southeast Houston. Built on 4.2 acres in 1969, the property offers a pet play area and onsite parking. Three Pillars will implement a capital improvements program, the scope and timing of which are still being determined. The seller was GE 2507 LLC.
AUSTIN, TEXAS — MIMCO, an El Paso-based retail investment firm, has acquired Four Corners Shopping Center, a 32,000-square-foot retail center located at the intersection of South Congress Street and William Cannon Drive in Austin. Tenants include Austin Regional Clinic, Popeye’s Louisiana Kitchen and Schlotzsky’s Deli. The seller was not disclosed. With this transaction, MIMCO’s Central Texas portfolio now spans more than 2 million square feet of shopping center space.
ORLANDO, FLA. — Metro Storage LLC has acquired a two-story, 641-unit self-storage facility in Orlando. The building spans 62,607 square feet. It was delivered in February 2018 at 7500 W. Colonial Drive. The property offers interior climate-controlled units, exterior drive-up storage units, outdoor RV and boat/car parking, covered loading and unloading access, wide asphalt driveways, security cameras, and access keypad controls. Metro Storage now owns two facilities in Orlando and 24 in Florida. The seller and sales price were not disclosed.
RICHMOND, VA. — Marcus & Millichap has arranged the $28 million sale of Vida East Apartments, a 178-unit multifamily community situated within an Opportunity Zone in Richmond. The seller, Seacoast Communities, delivered the community in August 2018. Communal amenities include a rooftop picnic area, saltwater swimming pool and a dog park. Christopher Chadwick and Martin Mooradian of Marcus & Millichap represented Seacoast Communities in the transaction. Bryn Merrey of Marcus & Millichap is the broker of record in Virginia. The buyer is an undisclosed local developer.
LAFAYETTE, LA. — Uber Capital Group LLC has provided a $33 million acquisition loan for Acadiana Mall in Lafayette. The 15-year loan features a fixed 5.4 percent interest rate, 70 percent loan-to-value and partial recourse for the borrower. Acadiana Mall spans 1.6 million square feet and is situated six miles south of downtown Lafayette. The anchor tenants are Macy’s, Dillard’s and JC Penney. Additional tenants include Aeropostale, Victoria’s Secret, Forever 21, The Children’s Place, Zumiez, Kay Jewelers, Jimmy Jazz, Men’s Wearhouse, Chick-fil-A, Thai Max and T-65 Café restaurants. Namdar Realty Group acquired the mall.
IRVINE, CALIF. — Rockefeller Group has completed the sale of a newly constructed cross-dock industrial building located at 1445 S. Tippecanoe Ave. within the Tri-City Industrial Complex in Irvine. Nuveen Real Estate acquired the 344,249-square-foot facility for an undisclosed price. At the time of sale, the property was fully leased to Home Chef, a division of Kroger, and Protempo, a global third-party logistics provider. Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Chuck Belden, Kyle Kehner, Milo Lipson and Tim Pimentel of Cushman & Wakefield represented the seller in the deal.
CHANDLER, ARIZ. — Cushman & Wakefield has arranged the sale of Jefferson Chandler, a Class A apartment community in Chandler. Irving, Texas-based JPI sold the property to RPC Chandler Apartments LLC, an entity formed by Dallas-based Rosewood Property Co., for an undisclosed price. Located at 3950 W. Chandler Blvd., Jefferson Chandler features 283 units in a mix of studio, one-, two- and three-bedroom floorplans with the average size of 924 square feet. The units offer nine-foot ceilings, wood-inspired plank flooring, quartz countertops, stainless steel appliances, washers/dryers, undermount kitchen sinks, pre-wiring for technology, private patios/balconies and exterior storage spaces. Community amenities include a clubhouse, resort-style swimming pool, poolside cabana area, outdoor grilling stations with lounge seating, putting green, high-tech fitness facility, yoga studio, latte lounge, social business hub, game room with billiards, off-leash pet park, pet wash area and covered parking. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the deal.
