Thursday, July 9, 2026
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Acquisitions

AcquisitionsFloridaOfficeSoutheast

TerraCap Sells Office Building in Tampa for $21.8M

by Camren Skelton

TAMPA, FLA. — TerraCap Management LLC has sold Lakeview Center, a 186,300-square-foot office property located at 6700 Lakeview Center Drive in Tampa, for $21.8 million. Joe Rossi, Thevenin Campton and Claire Calzon of Colliers International arranged the transaction on behalf of TerraCap. Miami-based TriOut Advisory Group LLC acquired the asset. Lakeview Center serves as the headquarters for HealthPlan Services Inc., a medical insurance provider. Existing entitlements give TriOut the ability to expand by more than 190,000 square feet, which would allow the company to build other office buildings and parking structures. Originally constructed in 1984, Lakeview Center has undergone more than $3 million in renovations over the past five years, including a new roof, elevator refurbishments, an upgraded HVAC system and a new energy management system.

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AcquisitionsFloridaMultifamilySoutheast

ARA Newmark Arranges Sale of 268-Unit Multifamily Community in Orlando

by Camren Skelton

ORLANDO, FLA. — ARA Newmark has arranged the sale of Axis West, a 268-unit apartment community in Orlando. Scott Ramey, Patrick Dufour and Kevin Judd of ARA Newmark arranged the transaction on behalf of the seller, Flournoy Partners. The Georgia-based developer completed construction on Axis West in 2017. Bluerock Real Estate acquired the asset for an undisclosed price. The community features a coffee bar, central lake with a walking trail, clubhouse, fitness center with a spin room, car care center, saltwater swimming pool and a dog park. Axis West was 93 percent leased at the time of sale.

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AcquisitionsFloridaRetailSoutheast

Macken Sells Walmart-Anchored Retail Center Near Miami for $11.9M

by Camren Skelton

MIAMI GARDENS, FLA. — Macken Cos. has sold Palmetto Design Center, a 62,500-square-foot shopping center in Miami Gardens, located roughly 15 miles north of Miami. Rise Star LLC acquired the asset for $11.9 million. A joint venture between Macken Cos. and Zvi Shiff of DZD Holdings completed construction on the center in 2016. A 41,800-square-foot Walmart Neighborhood Market anchors Palmetto Design Center. Additional tenants include T-Mobile, Edible Arrangements, OPI Nails and Laundromat. In addition, the sale included a 0.75-acre outparcel that will be the site of a full-service Spin Car Wash. Walmart has 17 years remaining on its lease with 16 five-year extension options. The other tenants all have four years remaining on their respective leases, with extension options ranging from five to 25 years.

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AcquisitionsNortheastPennsylvaniaRetail

HFF Arranges $55.2M Sale of Retail Center in Lehigh Valley

by David Cohen

ALLENTOWN, PA. — HFF has arranged the $55.2 million sale of MacArthur Commons, a 371,886-square-foot, grocery-anchored retail center located at 2631 MacArthur Road in Lehigh Valley. HFF represented the seller, an affiliate of Abrams Realty & Development, in the transaction. HFF also arranged $50.4 million in acquisition financing for the undisclosed buyer. The buyer was able to obtain long-term lease extensions with the anchor tenants. Current tenants at the 47-acre center include GIANT Food Stores, Dick’s Sporting Goods, Big Lots and T.J.Maxx.

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AcquisitionsMultifamilyNew JerseyNortheast

Gebroe-Hammer Negotiates Sale of Apartment Community in New Jersey for $32.1M

by David Cohen

LINDENWOLD, N.J. — Gebroe-Hammer Associates has negotiated the sale of Woodland Village Apartments in Lindenwold for $32.1 million. The property, which is located at 401 E. Gibbsboro Road is a 546-unit, two-story, garden-style apartment complex. Gebroe-Hammer represented the seller, Odin Properties, in the transaction. The buyer was undisclosed. Odin purchased the property for $15.8 million in 2014 and fully renovated the 30-building, 28.4-acre complex.

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AcquisitionsMultifamilyNew YorkNortheast

Cignature Realty Orchestrates $6.2M Sale of Apartment Building in Hamilton Heights

by David Cohen

NEW YORK CITY — Cignature Realty Associates LLC has arranged the sale of 3594 Broadway, a 15,072-square-foot apartment building in the Hamilton Heights neighborhood of Manhattan. The six-story building features 25 units and was built in 1910. Peter Vanderpool of Cignature Realty represented both the seller, Sugar Hill Capital Partners, and the buyer, City Skyline Realty, a local private investment company.

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AcquisitionsConnecticutNortheastRetail

Marcus & Millichap Brokers $4.3M Sale of Retail Center in Connecticut

by David Cohen

SHELTON, CONN. — Marcus & Millichap has brokered the $4.3 million sale of Shelton Town Center, a 19,450-square-foot retail center in Shelton. Derrick Dougherty and Mark Krantz of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The undisclosed buyer purchased the property in all cash. Shelton Town Center is located at 350 Bridgeport Ave. and was originally built by the seller in 2006. Tenants at the retail center include a nail salon, pizza shop, liquor store and car rental company.

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AcquisitionsIllinoisIndustrialMidwest

ML Realty Purchases 55,120 SF Industrial Building in Addison, Illinois

by Kristin Harlow

ADDISON, ILL. — ML Realty Partners has purchased a 55,120-square-foot industrial building in Addison, about 20 miles west of Chicago. The purchase price was not disclosed. The single-tenant property is located at 31 S. Mitchell Court. Justin Lerner and Joe Karmin of Transwestern represented the undisclosed seller. Transwestern will also handle lease-up of the building.

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AcquisitionsMidwestMinnesota

Marcus & Millichap Arranges Sale of 68-Room Hotel in Hinckley, Minnesota for $1.7M

by Kristin Harlow

HINCKLEY, MINN. — Marcus & Millichap has arranged the sale of Days Inn Hinckley for $1.7 million. The 68-room hotel is located at 104 Grindstone Court in eastern Minnesota. Guests have access to complimentary breakfast, free Wi-Fi and an indoor pool. Jon Ruzicka of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and secured the buyer, also a limited liability company.

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14780-W-Mountain-View-Blvd-Surprise-AZ
AcquisitionsArizonaOfficeWestern

NAI Horizon Brokers $3.2M Sale of Office Building in Surprise, Arizona

by Amy Works

SURPRISE, ARIZ. — NAI Horizon has arranged the sale of an office building located at 14780 W. Mountain View Blvd. in Surprise. Bellevue, Wash.-based Surprise Mountain LLC sold the property to Scottsdale, Ariz.-based Development Services of America for $3.2 million. Constructed in 1998, the 32,505-square-foot property features 212 parking spaces. At the time of acquisition, the property was 82 percent occupied. Tyler Smith of NAI Horizon, along with Marcus Muirhead of Lee & Associates, represented the seller, while John Cerchiai of Lee & Associates represented the buyer in the deal.

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