DENVER — Kaufman Hagan has arranged the sale of 3478 W. 32nd Avenue, a 3,043-square-foot, owner-user retail building in Denver’s Highlands Square. The asset traded for $1.8 million, or $591.52 per square foot. The names of the seller and buyer were not released. Zachary Bierman of Kaufman Hagan represented the seller in the deal.
CHICAGO — Waterton has acquired The Mason, a 263-unit, 14-story apartment building located at 180 N. Ada St. in Chicago’s Fulton Market district. The purchase price was nearly $90 million, according to CoStar. Units come in studio, one-, two- and three-bedroom layouts. Waterton plans to implement a light value-add program, including in-unit flooring upgrades and enhancements to common areas and amenity spaces. The Mason’s amenities include a rooftop deck, pool deck, fitness center, remote work space, a dog wash and dog run.
MADISON, WIS. — Marcus & Millichap has arranged the sale of Whitney Point Apartments in Madison for an undisclosed price. The property features 48 multifamily units and three retail suites. Located at 5414 Mineral Point Road on the city’s west side, the asset was built in 2020 as Phase I of a larger redevelopment plan. The site allows for a proposed Phase II that would add approximately 100 residential units and 8,250 square feet of retail space. Matthew Whiteside, Paul Rider and Don Schmidt of Marcus & Millichap represented the seller, Whitney Point Properties LLC, and procured the buyer, Whitney Point LLC.
NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of an 83-unit apartment building in the Westchester Square area of The Bronx. The six-story, elevator-served building at 1776 Castle Hill Ave. was constructed in 1936 and houses 15 studios, 54 one-bedroom units, 13 two-bedroom apartments and one three-bedroom residence. Benjamin Myerow, Seth Glasser and Michael Fusco of Marcus & Millichap represented the seller, a local family, and procured the buyer, a 1031 exchange investor, in the transaction. Both parties requested anonymity.
MIAMI — Funds managed by Trinity Investments and Certares Real Estate Management have sold EAST Miami, a 352-room hotel located within the $1.1 billion Brickell City Centre mixed-use development. Funds affiliated with Blackstone Real Estate purchased the hotel for an undisclosed price. Built in 2016, EAST Miami features guest rooms, 89 serviced apartments and Sugar, a rooftop bar and dining venue. Trinity Investments and Certares acquired the property in 2021 from Swire Properties, the master developer of Brickell City Centre. Swire Hotels continues to operate the hotel under the company’s EAST hospitality brand.
GREENEVILLE, TENN. — Matthews has negotiated the sale of Greeneville Commons, a 224,139-square-foot shopping center located in Greeneville, a city in northeast Tennessee near the North Carolina border. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the undisclosed seller, a repeat institutional client, in the transaction. Matthews also procured the buyer, an affiliate of Hackney Real Estate Partners. The sales price was not disclosed. Greeneville Commons was more than 90 percent leased at the time of sale to tenants including Ross Dress for Less, Hobby Lobby, Five Below, Marshalls, Bath & Body Works, Workout Anytime, Xfinity, GNC and Rack Room Shoes.
BATON ROUGE, LA. — Marcus & Millichap has brokered the $6.8 million sale of Village Square, a 47,000-square-foot shopping center located at 3132 College Drive near the Louisiana State University (LSU) campus in Baton Rouge. Situated near the intersection of I-10, the property is shadow-anchored by Walmart and was leased to tenants including Office Depot, Sally Beauty, Coffee Call, Classy Nails, Teatery & Tapioca and Juicy Seafood at the time of sale. Zach Taylor and Eric Abbott of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, an unnamed developer based in Tennessee, in the transaction. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana in the deal. The buyer was not released. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group also negotiated the $5.2 million sale of Village Square’s two outparcels, which are leased to Capital One and IHOP, in May on behalf of the same seller.
DALLAS AND FORT WORTH, TEXAS — JLL has brokered the sale of the DFW Bulk Portfolio, a collection of four industrial buildings totaling approximately 1.7 million square feet across 122.6 acres in Dallas-Fort Worth. The names and addresses of the buildings, which were completed between 1999 and 2017, were not disclosed, but they are located in the North Fort Worth, East Fort Worth and Great Southwest submarkets. The portfolio, which was fully leased to six tenants at the time of sale, features a total of 318 dock-high doors, 13 grade-level doors and parking for 1,094 cars and 179 trailers, as well as average clear heights and truck court depths of 33 and 162 feet, respectively. Trent Agnew, Tom Weber, Pauli Kerr, Keenan Ryan and Brennan Fewin of JLL represented the undisclosed seller in the transaction. The buyer was a fund backed by Los Angeles-based Ares Real Estate.
ARLINGTON, TEXAS — Houston-based investment firm Welcome Group has purchased a 100,129-square-foot industrial building in Arlington. The single-tenant building at 3101 Pinewood Drive was constructed on 4.6 acres in 1977 and renovated in 2021. According to LoopNet Inc., building features include 22-foot clear heights, 13 dock-high loading doors and four grade-level doors. The seller and sales price were not disclosed.
KELLER, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged the sale of two industrial buildings totaling 9,800 square feet and a 2.9-acre land parcel in Keller, located north of Fort Worth. The properties are all located along South Main Street. Mark Boone and Matt Murff of LanCarte Commercial represented the buyer and seller, both of which requested anonymity, in the transaction.
