BELLEVUE, NEB. — Quantum Real Estate Advisors Inc. has brokered the $3.9 million sale of Thunderbird Plaza in Bellevue, about eight miles south of Omaha. Built in 2014, the 9,062-square-foot retail center is fully leased to tenants such as Taco Bell, Jersey Mike’s Subs, Generation V, Top Q Nails & Spa, Cricket Wireless and Pinnacle Bank. Zack Hilgendorf of Quantum represented the seller, a Salt Lake City-based private development group. A Midwest-based buyer purchased the asset.
SPRING, TEXAS — Berkadia has negotiated the sale of Alexan Auburn Lakes, a 346-unit multifamily community in Spring, a northern suburb of Houston. Built in 2015, the property offers one-, two- and three-bedroom units and amenities such as two pools, a dog park, lake and running trails. Ryan Epstein, Jennifer Ray, Wes Breeding and Scott Bray of Berkadia represented the seller, a partnership between Trammell Crow Residential and Prime Property Investors, in the transaction. Tucker Knight and Nick Murphy of Berkadia secured an undisclosed amount of acquisition financing for the deal on behalf of the buyer, Fort Worth-based Olympus Property.
TEMPE, ARIZ. — Greystar has purchased Flagstone Apartment Homes, a multifamily asset located 30 W. Carter Drive in Tempe. RedHill Realty Investors and its joint-venture partner sold the asset for an undisclosed price. Situated on nearly 18 acres, the property features 376 units in a mix of studio, one- and two-bedroom layouts. The 248,912-square-foot asset was built in 1985. Cliff David of Marcus & Millichap and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in deal.
SAN ANGELO, TEXAS — Austin-based FourPoint Student Housing Investments has brokered the sale of Angelo Place, a 480-bed student housing community located adjacent to Angelo State University in San Angelo, roughly midway between Lubbock and San Antonio. Built in 2007, the 120-unit property features amenities such as a pool, fitness center, clubhouse and a full-sized basketball court. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint led the sales effort on behalf of the seller, Atlas Real Estate Partners. The buyer was not disclosed.
SURPRISE, ARIZ. — Colliers International has arranged the sale of Greenway Crossings, a lifestyle retail center located at 16572-16630 W. Greenway Road in Surprise. Cedar Rapids, Iowa-based Transamerica Life Insurance Co. (Aegon USA Realty Advisors) sold the property to Phoenix-based Rose Garden III PL for an undisclosed price. Mindy Korth, Kirk Kuller and John Jackson of Colliers represented the seller, while Jim Edwards of Scottsdale-based Rein and Grossoehme Commercial Real Estate represented the buyer in the transaction. Built in 2006, the property features 66,516 square feet of retail space. The sale included three retail buildings and three undeveloped retail parcels. At the time of sale, the property was 85 percent leased.
YORK, PA. — Marcus & Millichap has brokered the sale of the Country View Townhomes in York. The 12-unit property, which is located at 2-14 Tate Way, sold for $1.8 million. Will Riter, Andrew Townsend, Clarke Talone, and Ridge MacLaren of Marcus & Millichap represented the buyer, a limited liability company, in the transaction. The seller was undisclosed. Country View Townhomes was constructed in 2007 and is comprised of 12 three-bedroom units.
ELGIN, ILL. — Conor Commercial Real Estate and Globe Corp. have sold Northwest Pointe II in Elgin for $29.8 million. Cabot Properties purchased the 385,372-square-foot industrial building. The property, which is fully leased to Box Partners, is situated on a 22-acre parcel within the Northwest Corporate Park. Construction on a third building at the park is expected to begin in spring 2019. John Huguenard and Ed Halaburt of JLL and Ken Franzese and John Cassidy of Lee & Associates represented the seller in the transaction.
CORALVILLE, IOWA — In two separate transactions, CBRE has arranged the sales of a Comfort Inn & Suites and a Quality Inn in Coralville, a suburb of Iowa City. The sales prices were not disclosed. The 62-room Comfort Inn & Suites is located at 214 W. 9th St., while the 55-room Quality Inn is located at 209 W. 9th St. Douglas Johnson of CBRE represented the undisclosed sellers. Two different investment groups purchased the assets.
LAKE BARRINGTON, ILL. — Brown Commercial Group has brokered the $2.6 million sale of a 32,000-square-foot industrial property in Lake Barrington, about 40 miles northwest of Chicago. The buyer, PEGA LLC, will use 10,000 square feet of the building for its own industrial business while an existing tenant will lease the remaining 22,000 square feet. Freund Properties LLC was the seller. Jim Pietrarosso represented both the buyer and the seller in the transaction. The fully leased building features four docks and drive-in doors as well as 9,100 square feet of office space.
FREMONT, OHIO — Senior Living Investment Brokerage has negotiated the sale of Pristine Senior Living and Post-Acute Care of Fremont, an 82-bed skilled nursing facility, for $2 million. The three-story community is located in Fremont, approximately 40 miles southeast of Toledo. Constructed in 1965 and expanded in 1989, the 73,515-square-foot property sits on 6.8 acres. The seller was Sandusky County, which previously leased the community to Pristine Senior Living. The lease term ended and Pristine exited the Ohio market. The buyer was a New-Jersey based company with 11 other communities in Ohio. The transaction was positioned as a value-add play, as the community’s occupancy was below 50 percent at the time of sale. The new owner plans to make capital improvements to the building. The price equates to a price per bed of $24,390 and a capitalization rate of 7.04 percent.
