NORTHBOROUGH, MASS. — Steris Corp., a manufacturer of medical devices, has purchased a warehouse in Northborough, located about 30 miles west of Boston, for $6.8 million. The property, 425 Whitney St., is a 45,718-square-foot warehouse with office space. Steris already owns the neighboring property, 435 Whitney St. CBRE’s Bob Gibson, Rachel Marks and Chelsea Andre represented the seller, a fund managed by DRA Advisors LLC.
WOBURN and NORWOOD, MASS. — Cushman & Wakefield has arranged the sale of two seniors housing communities in the Boston suburbs. A joint venture between Benchmark Senior Living and Oz Real Estate sold Benchmark Senior Living at Woburn in Woburn as well as Benchmark Senior Living on Clapboardtree in Norwood. The communities offer a total of 177 assisted living and memory care units. Benchmark Senior Living will continue to manage the communities. The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, Tim Hosmer and Chris Remeika. The buyers and sales price were undisclosed.
CRANBERRY, PA. —Middletown Income Investors Cranberry LLC has purchased a single-tenant retail property in Cranberry, a northern suburb of Pittsburgh, for $14.1 million. A 24-hour Walmart Supercenter has fully occupied the property since 1999, and the retailer recently signed a 10-year lease extension. Patrick Luther of SRS, Phil Sambazis of Marcus & Millichap, along with Jeff Christian and Ryan Morita of First Street Brokerage, represented the seller, ACV Cranberry LLC, in the transaction. Zackary Hilgendorf of Quantum Real Estate Advisors represented Middletown.
LAKE HOPATCONG, N.J. — NAI James Hanson has negotiated the sale of a 6,000-square-foot retail building in Lake Hopatcong, located about 40 miles northwest of New York City. The retail center comprises seven rentable units, 50 feet of lake access and close proximity to Route 80 in Upstate New York. Joe Vindigni of NAI James Hanson represented the seller, BD Newhouse LLC in the transaction. The buyer was Gardners Shed. The sales price was undisclosed.
AUSTIN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Estancia Villas, a newly built, 312-unit apartment community in south Austin. The property is part of the 600-acre master-planned community of Estancia Hill Country, which upon completion will feature 130 acres of parks and nearly 280,000 square feet of retail and dining. Will Balthrope, Drew Kile and Jordan Featherston of IPA represented the seller and developer, JCI Residential. The buyer, Steadfast Cos., purchased the property for an undisclosed price.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of 4817 Brentwood Stair, an 8,120-square-foot retail strip center in Fort Worth. The property was built on roughly half an acre in 1977 near the intersection of Interstate 30 and Loop 820. Philip Levy of Marcus & Millichap marketed the property, which was 90 percent leased at the time of sale, on behalf of the seller, a private investor. Additional terms of sale were not disclosed.
LAS VEGAS — Invesco Real Estate and TA Realty Advisors have purchased 10 fully leased industrial buildings in Las Vegas from a private family trust for $117 million. Atlanta-based Invesco acquired four of the buildings, totaling 651,210 square feet, in North Las Vegas, while Boston-based TA Realty purchased the remaining six buildings, totaling 350,000 square feet in Southwest Las Vegas. Michael Kendall, Gian Carlo Bruno, Spencer Pinter, Dan Doherty, Paul Sweetlands, Chris Lane and Jerry Doty of Colliers International represented the seller in the deal.
MYRTLE BEACH, S.C. — Cushman & Wakefield has arranged the $47.6 million sale of The Vinings at Market Common, a 288-unit multifamily community in Myrtle Beach. The property is located at 2501 Hammock St., six miles southwest of downtown Myrtle Beach. The Vinings offers one-, two- and three-bedroom floor plans. Communal amenities include a swimming pool, 24-hour fitness center, car care center and multiple grilling stations. Alex Brown, Tai Cohen and Marc Robinson of Cushman & Wakefield represented the seller, Standard Capital Partners, in the transaction. Sillman Enterprises acquired the property.
MODESTO, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Chardonnay Ridge Apartments, a multifamily asset located on Celeste Drive in Modesto. A San Francisco-based private investment group acquired the property from a San Gabriel Valley-based private investor for $16.5 million, or $143,478 per unit. Built in 1979, Chardonnay Ridge features 115 units in a mix of one-, two- and three-bedroom layouts, with an average size of 741 square feet. Additionally, the community features a resort-style outdoor pool, 24-hour fitness center, reserved covered parking and on-site laundry facilities. Alex Mogharebi and Otto Ozen of TMG represented the seller and buyer in the transaction.
HOUSTON — Cypressbrook Co. has negotiated the sale of a 28,896-square-foot office/warehouse property located at 23219 West Hardy Road in Houston. According to LoopNet Inc., the property was built on 1998 and features 22-foot clear heights. Greg Usher of Cypressbrook represented the seller, WHRM Hardy Investments LLC, in the sale. Margaret Ann Cook of Fritsche Anderson Realty Partners represented the buyer, ieSmart Systems LLC.