NEW YORK CITY — Marcus & Millichap has negotiated the $3.3 million sale of an eight-unit apartment building in the Bushwick neighborhood of Brooklyn. The property is located at 283-285 Evergreen Ave. Shaun Riney, Daniel Greenblatt and Thomas Shihadeh of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
KENNESAW, GA. — CBRE has brokered the sale of Mountain Park Estates, a 450-unit apartment community in Kennesaw, about 20 miles northwest of Atlanta. The community is situated about a mile from Kennesaw Marketplace, a 50-acre, Whole Foods-anchored mixed-use development completed in 2017. Amenities at Mountain Park Estates include a clubhouse, fitness center, swimming pool, outdoor lounge, fire pit and three lighted tennis courts. Greensboro, N.C.-based Bell Partners acquired the asset. which is located about 25 miles north of downtown Atlanta. The seller and sales price were not disclosed.
BIRMINGHAM, ALA. — Stage Equity has acquired Inverness Dental & Medical Plaza, a two-story, 21,019-square-foot medical building in Birmingham. The asset, which was delivered in 2001 and sits on 1.5 acres, was fully leased at the time of the sale. The property is located about nine miles from the University of Alabama at Birmingham (UAB). Brian Higdon of Marcus & Millichap represented the buyer in the transaction. Alex Perez and Brett Chetek of Chetek Group represented the seller, Inverness Dental Associates LLC. The sales price was not disclosed.
KILGORE, TEXAS — HFF has brokered the sale of a 550,000-square-foot distribution center leased to Orgill, the world’s largest independent hardware distributor, in the eastern Texas city of Kilgore. Built in 2007 on 65.2 acres, the property is currently being expanded by almost 329,000 square feet with completion expected in mid-2019. Adam Herrin and Stephen Bailey of HFF represented the seller, Elysian Partners LLC, in the transaction.
WOODINVILLE, WASH. — Locally based Park Row LLC has purchased The Park at Woodinville, a Class A industrial park located at 14103 NE 200th St. in Woodinville, a suburb approximately 20 miles northwest of Seattle. Newport Beach, Calif.-based KBS sold the property for $47.2 million, or $197 per square foot, in an off-market transaction. Todd Gauthier and Jason Bloom of Kidder Mathews represented the buyer in the deal. The five-building, 239,607-square-foot industrial park features a café/deli, loading docks and outdoor patios.
ORANGE, CALIF. — Alere Property Group has acquired North Orange Industrial Park, an industrial business park located in Orange from an undisclosed seller for $21.9 million in an off-market transaction. Mike Cargile and Loren Cargile of Voit Real Estate Services represented the buyer in the deal. The three-building asset features 138,970 square feet of industrial space in a variety of ground-level unit sizes and multi-tenant dock-high spaces. At the time of sale, the property was 100 percent occupied by a tenant mix of light industrial and distribution users.
DENVER — NAI Shames Makovsky has arranged the sale of a retail property, located at 2903 Larimer St. in Denver. Michio Iwahashi sold the asset to 2093 Larimer LLC for $3 million. The property features a 12,528-square-foot land parcel with two existing structures. Evan Makovsky and Todd Snyder of NAI Shames Makovsky represented the seller in the deal.
GRANDVIEW, MO. — Rainier Realty Investments LP, along with institutional investor CIL2 REIT LLC, has acquired Truman’s Marketplace, a 308,200-square-foot retail center in Grandview near Kansas City. The property is 98 percent leased by tenants such as Ross Dress for Less, TJ Maxx, Burlington, Petco and Price Chopper. Metropolitan Capital Advisors arranged acquisition financing. CIL2 is managed by Continuum Investments LLC. This is the sixth retail acquisition for Rainier and CIL2 in the past 20 months.
CHICAGO HEIGHTS, ILL. — Colliers International has arranged the sale of a 223,517-square-foot industrial facility located at 300 E. Joe Orr Road in Chicago Heights. The sales price was not disclosed, but the asking price was $3.1 million. The one-story facility features 18 cranes. The building also features an interior rail spur for Union Pacific, 10 drive-in doors, five drive-through bays and more than 12,000 square feet of office space. John Basile of Colliers represented the seller, Esmark Steel Group, a processor and distributor of flat-rolled steel. Ed Wabick of Paine Wetzel represented the buyer, private investor 300 E. Joe Orr Road LLC.
HAMPSHIRE, ILL. — RMC Holdings Hampshire has sold two land sites within Metrix Industrial Park at the northwest corner of Interstate 90 and State Route 20 in Hampshire. In the first transaction, The McCoy Group purchased 13 acres for the development of a Truck Country facility. Construction of the 40,000-square-foot facility is expected to begin this spring. In the second transaction, Stream’s Edge Properties LLC purchased 18 acres. Dave Schmidt and Linda Kost of Realty Metrix Commercial assisted Stream’s Edge with its acquisition, along with the rezoning of the land parcel and coordinating site work to expedite construction, which is scheduled to begin this spring. Metrix Industrial Park is a 45-acre project focused on trucking. It is adjacent to the new 33-acre Love’s Truck and Travel Stop, which is currently under construction and expected to open in April.