GARDNER, MASS. — Marcus & Millichap has brokered the $3.6 million sale of Washington Park Apartments, a 48-unit apartment property in Gardner. The property is located at 61 W. Broadway. Matthew Pierce of Marcus & Millichap’s Boston office represented the seller, a limited liability company, in the transaction. The buyer was a private investor.
AMSTON, CONN. — Northeast Private Client Group has arranged the sale of a 32-unit apartment community in Amston. The property traded for $2 million, which equates to a capitalization rate of 6.8 percent based on current net operating income. Taylor Perun and Rob Fiamengo of Northeast Private Client Group represented the seller, Hebron Properties, in the transaction. The buyer was Spin Ghar Properties LLC. The property is located at 102 Wellswood Road.
TEMPE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Davenport, a multifamily asset situated on 20.5 acres along Mill Avenue in Tempe. Tides Equities acquired the property from an affiliate of Abacus Capital Group for $55.5 million, or $125,566 per unit. Developed in 1973 and 1979, The Davenport features 442 units in a mix of studio, one- and two-bedroom layouts. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the transaction.
SAN LEANDRO, CALIF. — Newmark Knight Frank has arranged the sale of Westgate Center, a grocery-anchored mixed-use retail center located at 1933 Davis St. in San Leandro. SKB and WHI Real Estate Partners sold the property to a New York-based global private equity firm for an undisclosed price. The 586,407-square-foot property features a 361,132-square-foot retail component and 225,275 square feet of flex office and prototyping space. Walmart, Home Depot, Ross Dress for Less, Burlington and Dollar Tree are tenants at the retail portion. The second-floor flex space, branded as Gate510, offers an environment for entrepreneurs and creators to collaborate, invent, work and manufacture. Nicholas Bicardo, Brandon Rogoff and Grant Lammersen of NKF represented the seller in the deal.
CONIFER, COLO. — Dormie Capital Holdings has acquired Conifer Marketplace, a shopping center located at 10853 Highway 285 in Conifer, approximately 30 miles southwest of Denver. An undisclosed seller sold the property for $10.6 million. Built in 1984, the 86,659-square-foot retail property was 92 percent occupied at the time of sale. Tenants include Staples, O’Reilly Auto Parts and Anytime Fitness. Legend Investment Group, a division of Legend Partners, represented the seller. Matt Call and Heather Taylor of Navpoint represented the buyer in the deal.
LAKE OSWEGO, ORE. — Asana Partners has purchased Oswego Village, a five-building retail center located at 11 State St. in Lake Oswego, from an institutional seller for an undisclosed price. Situated on 7.7 acres, the 102,809-square-foot property was 84.5 percent leased at the time of sale. Tenants include Whole Foods 365, Ace Hardware, Tuesday Morning, North Lake Physical Therapy, Banfield Pet Hospital, Great Clips and Subway. Nick Kassab and Bryan Ley of HFF represented the seller in the transaction. Asana Partners acquired the property free and clear of existing debt.
VISTA, CALIF. — Cushman & Wakefield has arranged the sale of a freestanding industrial building, located at 2530 Pioneer Ave. in Vista. Ki’s Kitchen purchased the 9,150-square-foot property from BS Ventures for $1.8 million. Built in 1989, the property features a modernized conference room, private office space, open break room/reception, floor-to-ceiling glass walls, multiple restrooms, motorized grade loading and a secured fenced yard. The buyer, a privately owned commercial kitchen company, plans to relocate its own operations to the property from its current location in Carlsbad. Chris Baumgart and Jeffrey Sallen of Cushman & Wakefield’s San Diego office represented the seller in the deal.
LEAGUE CITY, TEXAS — Houston-based Keener Investments has acquired The Shore and Harbor Walk, two multifamily properties totaling 314 units in League City, about 25 miles southeast of Houston. Both Class B properties were built in the 1980s, have an average unit size of 880 square feet and feature pools, fitness centers, business centers and playgrounds. Keener will upgrade both properties’ unit interiors and amenity spaces. The seller was not disclosed.
CHICAGO — Interra Realty has brokered the sales of two multifamily buildings in Chicago’s South Shore community for $6.4 million. The first property, located at 6901 S. Paxton Ave., sold for $4.2 million. The 50-unit building includes a mix of one, two-, three- and four-bedroom units. At the time of sale, the property was 94 percent leased. The second property, located at 7250 S. Yates Blvd., sold for $2.2 million. The 29-unit building features hardwood flooring, granite countertops and in-unit laundry. The asset was 93 percent leased at the time of closing. David Goss, Jon Morgan, Ted Stratman, Lucas Fryman and Jeremy Morton of Interra represented the undisclosed buyers and seller.
DETROIT — Friedman Real Estate has negotiated the sale of a 26,600-square-foot office building in Detroit for an undisclosed price. The property is located at 610 W. Congress St. Congress Real Estate Ventures LLC sold the asset to 610 West Congress Partners LLC. Alan Stern and Steven Silverman of Friedman represented both parties in the sale.