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Acquisitions

AcquisitionsFloridaMultifamilySoutheast

Bell Partners Acquires Multifamily Community in Broward County for $67M

by Alex Tostado

PLANTATION, FLA. — Bell Partners has purchased Broadstone Plantation, a 250-unit community located about eight miles from Fort Lauderdale in Plantation. Triad Business Journal reports the sales price was $67 million. The complex has been renamed Bell at Plantation and will be managed by Greensboro, N.C.-based Bell Partners. Bell at Plantation comprises five-story midrise buildings and three-story garden buildings with one- , two- and three-bedroom options. Amenities include a clubhouse, theater room, fitness center and a pool. The seller was undisclosed.

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AcquisitionsMultifamilySouth CarolinaSoutheast

Berkadia Negotiates $42.2M Sale of Loft Apartment Community in Greenville

by Alex Tostado

GREENVILLE, S.C. — Berkadia has negotiated the sale of West Village Lofts at Brandon Mill in Greenville for $42.2 million. West Village Lofts was redeveloped in 2017 and offers one- , two- and three-bedroom floor plans. Amenities include a dog park, pool, fitness center, wine cellar and a clubroom. The buyer and seller were undisclosed.

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AcquisitionsFloridaOfficeSoutheast

ICM Realty Sells Office Building in Boca Raton for $21.5M

by Alex Tostado

BOCA RATON, FLA. — ICM Realty has sold the Atrium at Broken Sound, a 97,584-square-foot, Class A office building in Boca Raton, to Alchemy-ABR Investment Partners and Breakers Capital Partners LLC for $21.5 million. The Atrium was built in 1986 on eight acres within The Park at Broken Sound, a 700-acre mixed-use development that offers residential options, shopping, cafes and a golf course. Schwartz Sladkus Reich Greenberg Atlas LLP represented the buyers in the transaction.

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AcquisitionsNew JerseyNew YorkNortheastRetail

Lidl US to Acquire 27 Best Market Stores in New York, New Jersey

by David Cohen

NEW YORK AND NEW JERSEY — Supermarket chains Lidl US and Best Market have announced an agreement in which Lidl will acquire 27 Best Market stores in New York and New Jersey. Beginning next year, the German discount retailer will convert the Best Market stores to the Lidl brand. The process will involve the remodeling, reinvestment and reflagging of Best Market locations as Lidl stores. Best Market is a privately owned fruit and grocery store chain headquartered in Bethpage, New York. Of the 27 Best Market locations, 24 are located in Long Island, two are located in New York City and one is located in New Jersey. The terms of the acquisition are undisclosed, and it is expected to close in the first quarter of 2019.

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AcquisitionsMultifamilyNew YorkNortheast

AMS Acquisitions Purchases Multifamily Development Site in Yonkers for $18.3M

by David Cohen

YONKERS, N.Y. — AMS Acquisitions has purchased a 50,000-square-foot development site in Yonkers for $18.3 million. The property is located at 55 Buena Vista Ave. AMS plans to build a 400,000-square-foot, 24-story, 361-unit residential building at the site, which is the former Teutonia Music Hall. AMS acquired the property from seller Kohl Construction. The AMS portfolio includes approximately two million square feet of retail, residential and office space in the tri-state region.

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AcquisitionsIndustrialNew YorkNortheast

Cushman & Wakefield Brokers $4.5M Sale of Warehouse in Queens

by David Cohen

NEW YORK CITY — Cushman & Wakefield has brokered the $4.5 million sale of a 10,000-square-foot warehouse in the Astoria neighborhood of Queens. Located at 19-57 Steinway St., the single-story property features 16-foot ceiling heights and four drive-in gates. A month-to-month tenant currently occupies the warehouse. Stephen R. Preuss of Cushman & Wakefield represented the seller, 19-57 Steinway ST RTY CP, in the transaction. The buyer was J&N Development.

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10930-Petal-St.-Dallas
AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Brokers Sale of 29,900 SF Industrial Property in Dallas

by Taylor Williams

DALLAS — Lee & Associates has brokered the sale of a 29,900-square-foot industrial property located at 10930 Petal St. in northeast Dallas. According to LoopNet Inc., the single-tenant property was built in 2003. Brett Lewis, Taylor Stell and George Tanghongs of Lee & Associates represented the seller in the transaction. Scott Axelrod of Henry S. Miller represented the buyer. Both parties requested anonymity.

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AcquisitionsRetailTexas

EDGE Realty Negotiates Purchase of 14,230 SF Retail Center in Houston

by Taylor Williams

HOUSTON — EDGE Realty Capital Markets has negotiated the purchase of Harrisburg Retail Center, a 14,230-square-foot asset located at 7011 Harrisburg Blvd. in the East Downtown submarket of Houston. Turimex Internacional, one of the largest transportation companies in Mexico and the United States, anchors the property. Burdette Huffman and Josh Jacobs of EDGE Realty represented the undisclosed seller in the transaction. Mark Kalil of Mark Kalil & Associates represented the buyer.

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AcquisitionsRetailTexas

Retail Solutions Arranges Sale of 13,905 SF Former Walgreens in Houston

by Taylor Williams

HOUSTON — Retail Solutions has arranged the sale of a 13,905-square-foot retail property in Houston formerly leased to Walgreens. The store, which was built in 1999, is located at 11220 Louetta Road on the city’s northwest side. Amandeep Singh of Retail Solutions represented the seller. Saqib Ali of Texas Real Estate Group represented the buyer. Other terms of sale were not disclosed.  

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AcquisitionsIllinoisMidwestMultifamily

Draper and Kramer Acquires 180-Unit Apartment Community in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Draper and Kramer has acquired North 680, a 180-unit apartment community in Schaumburg, a northwest suburb of Chicago. The purchase price was not disclosed. Draper and Kramer purchased the property as part of a 1031 tax-deferred exchange following the firm’s sale of Fieldpointe of St. Louis, a 318-unit community in suburban St. Louis. Located at 680 E. Algonquin Road, North 680 is comprised of 176 apartment units and four townhomes. Units range from 665 to 1,588 square feet. Amenities include a heated pool, dog park, clubhouse and fitness studio. Draper and Kramer plans to make select renovations to the property over time as needed.

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