TAMPA, FLA. — Colliers International has brokered the $55 million sale of 10 single-tenant retail properties in Florida and Georgia that are net-leased to Walgreens. Mike Milano, Sean Glickman, Donald Jennewein, Nathan Lynch and Tara Paronto of Colliers arranged the transaction on behalf of the seller, Olympia Development Group. A California-based real estate investment company acquired six of the locations, while private investors purchased the other four locations as part of a 1031 exchange. The sales prices ranged from $2.7 million to $8.2 million. Two of the Walgreens stores are located in Naples, and the other Florida locations are in Sarasota, Temple Terrace, Bradenton, Merritt Island, Seminole, Dunedin and Oldsmar. The one Georgia property is located in Lawrenceville. Each building ranges between 15,000 and 17,000 square feet.
ALPHARETTA, GA. — Pollack Shores Real Estate Group has acquired AMLI Northwinds, an 800-unit apartment community in Alpharetta, roughly 25 miles north of Atlanta. The name of the seller and sales price were not disclosed. Pollack Shores will rename the community Avery at Northwinds and will invest more than $13 million in property upgrades and amenity improvements. Project plans call for new appliances, countertops and light fixtures for all residential units. Amenity upgrades will include renovations to the property’s three pools, a new fitness center and the conversion of two-thirds of the tennis courts into “The Hub.” The new area will provide a green space to host special events for residents. Atlanta-based Pollack Shores acquired the property in partnership with an account advised by UBS Asset Management. Matrix Residential, a subsidiary of Pollack Shores, will manage the community.
CHICAGO — An affiliate of Beacon Capital Partners has acquired 303 East Wacker, a 944,000-square-foot riverfront office tower in Chicago’s East Loop, for $182 million. Completed in 1980 by Metropolitan Structures, the 30-story tower has two penthouse levels and floor-to-ceiling windows offering unobstructed, 360-degree views of the Chicago River, Lake Michigan and the city skyline. A lower-level retail concourse at the property connects it directly to the Swissotel and Hyatt Regency Chicago hotels. The building also features a 294-space parking lot. The JLL Capital Markets team of Bruce Miller and Nooshin Felsenthal brokered the sale on behalf of the seller, Franklin Street Properties, while Keith Largay and Heather Brown arranged acquisition financing for the buyer. Previous owners of the trophy office building include a joint venture between Hines and J.P. Morgan Fleming Asset Management. The companies held the property from 1997 to 2007, implementing a renovation program before selling to Franklin Street Properties. Hines was still managing the leasing of the property at the time of sale to Beacon. Fujikawa Johnson & Associates was the original architect of the property. Notable tenants include AECOM, Hewlett-Packard, Kelly Scott Madison, Maximus Inc., Northwestern University, Senior Lifestyle Management LLC and XPO Logistics. Beacon …
NEW YORK CITY — Ariel Property Advisors has brokered the $3.2 million sale of a six-story multifamily building in East Harlem. Located at 57 E. 130th St., the newly constructed property includes five units and spans 6,268 square feet. The units feature Bosch appliances and walnut cabinetry in the kitchens as well as marble tiling with Grohe and Toto finishes in the bathrooms. Matthew L. Gillis, Michael A. Tortorici, Victor Sozio, Marko Agbaba, and Daniel Mahfar of Ariel Property Advisors represented the seller, Yoori Oh of Verse Development LLC, in the transaction. The buyer was Joshua Lee.
UNIONTOWN, PA. — Marcus & Millichap has negotiated the $1.4 million sale of a net-leased retail property occupied by Olive Garden in Uniontown. Located at 517 W. Main St., the 7,500-square-foot property is situated in a corridor with nearby retailers that include Home Depot and Target. Michael Lombardi and Steven Schiavello of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor.
LODI, N.J. — NAI James E. Hanson has arranged the sale of a 73,373-square-foot industrial facility in Lodi for an undisclosed price. Scott Perkins, Andrew Somple, Greg James, Christopher Todd and Justin Allessio of NAI James E. Hanson represented the seller, AEW, in the transaction. The buyer was Mood Fabrics. Located at 39 Robinson Road, the facility features 29-foot clear heights in 16,447 square feet of the building and 14-foot clear heights through the remaining 56,896 square feet. The facility also includes three tailgates and three drive-in doors.
SAN ANTONIO — JLL Capital Markets has brokered the sale of Cordoba Apartment Homes, a 260-unit multifamily community located at 7810 Callaghan Road in northwest San Antonio. Moses Siller and Zar Haro of JLL represented the seller, Leuven Group, in the transaction. The buyer, GVA Pro LLC, purchased the asset for an undisclosed price. According to Apartments.com, Cordoba’s monthly rental rates range from $644 for a studio apartment to $979 for a two-bedroom unit. Built in 1980 and renovated this year, the apartment community features two swimming pools, a tennis court, 24-hour laundry rooms and bilingual management.
HUMBLE, TEXAS — Marcus & Millichap has arranged the sale of The Centre at Eagle’s Nest, a 23,511-square-foot retail property located at 5324 Atascocita Road in Humble, about 19 miles northeast of Houston. Nate Newman and Logan Kelly of Marcus & Millichap’s The Woodlands office represented the seller, a limited liability company, in the transaction. Newman also secured and represented the buyer, another limited liability company. The sales price was undisclosed. Built in 2005, The Centre at Eagle’s Nest was fully leased at the time of sale to tenants that Kelly describes as “Amazon-proof.”
FRISCO, TEXAS — Greysteel has arranged the sale and financing for Preston Trace, a 40-unit apartment community located at 8660 Preston Trace Blvd. in Frisco. Built in 1976, the garden-style property’s units are reserved for renters earning 50 percent or less of the area median income (AMI). Doug Banerjee, Boyan Radic, John Marshall Doss, Andrew Mueller, Andrew Hanson, Scott Simon and Jack Stone of Greysteel represented the undisclosed seller in the transaction. The Greysteel team also originated a Fannie Mae acquisition loan on behalf of the undisclosed buyer.
CORAL SPRINGS, FLA. — Tiktin Real Estate Investment Services (TREIS) has brokered the $43 million sale of the Heron Bay Office and Retail Portfolio in Coral Springs. The Broward County portfolio includes Waterway Shoppes, a 40,258-square-foot retail center; Heron Bay III, a 45,344-square-foot, Class A office building; and Heron Bay IV, a 45,383-square-foot, Class A office building. Adam Tiktin and Alejandro Snyder of TREIS arranged the transaction on behalf of the sellers, RM-NA HB Three Office Building LLC, RM-NA HB Four Office Building LLC and RM-NA HB Waterway Shoppes LLC. Asuman 57th Street LLC acquired the assets. The sellers constructed the three buildings in 2006 and 2008. The portfolio is fully occupied by a mix of national, regional and local tenants.