WESTMINSTER, COLO. — Nexus Commercial Realty LLC has closed on the $2.6 million sale of The Abbey at Westminster, a 16-unit multifamily property at 7120 Hooker St. in Denver. Austin Smith and Sean Holamon of Nexus represented the seller, 7120 Hooker LLC. Gunnar Wilson, Brandon Kaufman and Nik McCarter represented the buyer, Claude and Tiffany Cismaru. The Abbey at Westminster totals 11,888 square feet and offers a mix of one- and two- bedroom units.
RIVERSIDE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $2.3 million sale of a two-tenant retail property occupied by a Jack in the Box restaurant with a drive-thru and a Verizon cell tower at 1115 W. La Cadena Drive in Riverside. The sale was made at a 4.52 percent capitalization rate. Hanley’s Austin Blodgett and Eric Wohl represented the seller, Greens Capital Ventures LLC, an affiliate of Irvine, Calif.-based Greens Group Inc. Allen Park of Packo Investments represented the unnamed buyer. Built in 2018, the 1,869-square-foot Jack in the Box building sits on a 0.49-acre lot.
CAMPBELL, CALIF. — Regency Centers Corp. (Nasdaq: REG) has acquired the retail component of The Pruneyard, a 27-acre mixed-use development in Silicon Valley that dates back to 1969. The Jacksonville, Fla.-based shopping center owner and developer purchased the property from a joint venture between Ellis Partners and investment funds managed by an affiliate of Fortress Investment Group LLC for $212.5 million. Situated in Campbell near State Route 17, The Pruneyard’s 258,000-square-foot shopping center is anchored by Trader Joe’s. The site was formerly a pear and prune orchard before the Brynteson family sold it in 1966, according to the Silicon Valley Business Journal. The recently renovated development also features three office towers spanning 365,000 square feet and a 171-room DoubleTree by Hilton hotel that were not part of the transaction. Other retailers and restaurants at The Pruneyard include Pruneyard Dine-In Cinemas, Marshall’s, Rock Bottom Brewery, Sports Basement, Café Artemis, Buca di Beppo, Peet’s Coffee, Chase Bank and Massage Envy. Coming to the center this fall are fitness concept Row House and DIY workshop retailer Board & Brush. Bryan Ley and Eric Kathrein of HFF represented the sellers in the transaction. San Francisco-based Ellis Partners is retaining a minority interest in the …
LAS VEGAS — Gindi Capital, a privately held investment company, has acquired a 9.5-acre property on the Las Vegas strip for $172 million from FX Luxury Las Vegas, an affiliate of Spectrum Group Management. The property is located at 3743-3759 Las Vegas Blvd., adjacent to Gindi’s other holdings on the strip, and contains 700 feet of street frontage. Gindi Capital is working with its development and design teams to plan a new flagship retail, entertainment and dining experience inside the building.
SEATTLE — EQ Office, an office portfolio operating company wholly owned by the Blackstone Group, has acquired U.S. Bank Centre and 999 Third Ave. in Seattle. The acquisitions increase EQ’s investment to 3.1 million rentable square feet of Class A office space in the city. EQ will manage both properties and plans to reposition them to accommodate Seattle’s evolving workforce. Both buildings are located in Seattle’s central business district. Tenants include U.S. Bank, DocuSign and Wells Fargo. EQ currently manages two properties in Seattle, The Exchange and 800 Fifth Ave. According to EQ, upon renovation U.S. Bank Centre will feature a retail marketplace catering both office tenants and area residents, while 999 Third Ave. will feature an improved exterior plaza area.
DENVER — RMR Office Property Fund LP has acquired Belleview Corporate Plaza, a two-building, 172,220-square-foot office property in Denver, for $39.1 million. Belleview Corporate Plaza is situated close to several retail and dining amenities and is near a light rail station. The property is 98 percent leased with a weighted average lease term of 6.5 years.
ALBUQUERQUE, N.M. — MCR has acquired the 110-room Residence Inn by Marriott Albuquerque Airport. Located five miles southeast of downtown. The property is located at 2301 International Ave. SE and features 110 pet-friendly rooms with full kitchens, free breakfast and Wi-Fi, an on-site convenience store, fitness center, indoor pool, barbecue area, business center and on-site laundry.
NORTH CHARLESTON, S.C. — Big V Property Group has acquired Promenade at Northwoods, a 322,428-square-foot shopping center in North Charleston. Hobby Lobby, Gander Outdoors and Ollie’s Bargain Outlet anchor the center, which was 85 percent leased at the time of sale. Other tenants include Boot Barn, Party City, Crunch Fitness, Moe’s Southwest Grill, Landmark Financial and Once Upon a Child. Promenade at Northwoods is located off Interstate 26, across from Northwoods Mall and 15 miles north of downtown Charleston. The seller and sales price were not disclosed.
GREENSBORO, N.C. — McConnell Center Associates has sold a three-building industrial portfolio in Greensboro for $49.3 million. The buildings total 670,536 square feet and are located at 4751, 4755 and 4754 McConnell Center Drive within McConnell Center, a master-planned industrial park totaling more than 1 million square feet. The property is situated six miles east of downtown Greensboro and 20 miles from Piedmont Triad International Airport. New York Life Insurance Co. acquired the portfolio. Patrick Nally and Chris Norvell of HFF and Tom Townes and John Schultz of Triad Commercial represented the seller in the transaction.
WILDEWOOD, S.C. — Cushman & Wakefield has arranged the $35 million sale of Wildewood Downs, a 248-unit seniors housing community in Wildewood. Wildewood Downs was developed between 2000 and 2014 and comprises 76 independent living homes, 60 independent living apartments, 40 assisted living units, eight memory care units and a 64-bed skilled nursing facility with an 80-bed licensed capacity. The property is located 13 miles north of downtown Columbia on 38 acres. David Kliewer, Paul Carr and Allen McMurtry of Cushman & Wakefield represented the seller, an affiliate of The Hollinger Group, in the transaction. Senior Living Communities (SLC) acquired the asset for $141,129 per unit using debt financing from a publicly traded REIT.