PUEBLO, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a value-add multifamily asset located at 1024-1026 Oxford St. and 28 Amherst Ave. in Pueblo. An undisclosed buyer acquired the asset for $2.3 million. Built in 1971, the property features 35 units and is within walking distance of Safeway and King Soopers. Chris Knowlton of Pinnacle Real Estate represented the buyer and undisclosed seller in the deal.
NEW YORK CITY — Avison Young has brokered the $7 million sale of a vacant development site in the East Village of Manhattan. Located at 14 Second Ave., the property offers 15,042 buildable square feet. James Nelson, Brandon Polakoff and Toku Saito of Avison Young represented the undisclosed seller in the transaction. The buyer was developer Station Cos. The developer plans to build a 10-story residential building with full-floor condominium units on the property.
BOLINGBROOK, ILL. — Bridge Development Partners has purchased Fountain Square Commerce Center, a four-building industrial business park in Bolingbrook, for $73.5 million. Jeff Devine and Steve Disse of Colliers International represented the seller, Conor Commercial and partner LaSalle Investment Management. The buildings span 741,586 square feet. At the time of sale, two of the buildings were fully leased. The remaining 439,099 square feet are available for lease. Completed in 2016, the buildings feature a clear height of 32 feet. Bridge Development plans to develop a 216,320-square-foot speculative facility on the adjoining 12 vacant acres, which were also included in the sale.
INDEPENDENCE, MO. — Marcus & Millichap has brokered the $18.5 million sale of a 455-unit apartment portfolio in Independence, about 10 miles east of Kansas City. The three properties include the 193-unit Cimmaron, the 108-unit Hillside Apartments, and the 154-unit Sterling 24 Apartments. The portfolio was more than 95 percent occupied at the time of sale. Bradley Barham and Logan Weaver of Marcus & Millichap brokered the 1031 tax-deferred exchange. Neither the buyer nor the seller was disclosed.
CHARDON, OHIO — Montecito Medical Real Estate has acquired Chardon Surgery Center in Chardon, about 30 miles northeast of downtown Cleveland. The purchase price was not disclosed. Built in 1998, the nearly 24,000-square-foot medical office and surgery center features three operating rooms, a laser surgery center and a newly built MRI center. Precision Orthopedic Specialties and Kellis Eye Center jointly own the ambulatory center, which occupies one-third of the overall space in the building. The transaction marks Montecito’s 19th acquisition this year.
WEST BRIDGEWATER, MASS. — KeyPoint Partners has negotiated the $3.4 million sale of West Bridgewater Plaza, a retail property in West Bridgewater. The 133,000-square-foot retail center is located off Route 28. Don Mace of KeyPoint represented the buyer, the owner and operator of indoor entertainment concept FunZ. The buyer plans to open a FunZ location in the former Shaw’s space at the center.
FORKED RIVER, N.J. — HFF has negotiated the sale of Sunrise Plaza, a 255,940-square-foot retail center in Forked River. Located on more than 27 acres, the center is fully occupied by a tenant roster that includes Aldi, Kohl’s and The Home Depot. The center was built in 2007. Jose Cruz, Stephen Simonelli, Kevin O’Hearn and Michael Oliver of HFF represented the undisclosed seller in the transaction. The buyer was a public entity.
IRVING, TEXAS — New York City-based Extell Development Co. has acquired Four Seasons Resort & Club Dallas, a 405-room hotel located within Irving’s Las Colinas district, for $235 million. The sale price equates to about $580,000 per unit. The property offers access to a golf course and has several onsite bars and restaurants. According to hotel-online.com, the seller was Blackstone, which acquired the property from CW Capital Asset Management in 2014 for $150 million.
AUSTIN, TEXAS — HFF has negotiated the sale of Las Cimas II and III, a 313,716-square-foot office property in Austin. Completed in 2000 and 2001, the two buildings are located at the intersection of Loop 360 and Bee Cave Road on the city’s southwestern side. Amenities include a Whole Foods Market deli, fitness center and a conference room. HFF represented the seller, international investment firm GLL Real Estate Partners, and procured the buyer, Boston-based Rockpoint Group LLC.
BOSTON — Cushman & Wakefield Senior Housing Capital Markets, acting as advisor to HCP Inc., has arranged the sale of a portfolio of seniors housing communities managed by Brookdale Senior Living. HCP agreed to sell the 17 Brookdale-managed properties to funds managed by affiliates of Apollo Global Management LLC (NYSE: APO) for $264 million. The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, James Dooley and Sam Dylag.
