Acquisitions

WASHINGTON, D.C. — Calkain Cos. has arranged the $14.9 million sale of MacArthur Retail & Professional Center, a 45,543-square-foot mixed-use building located at 5185 MacArthur Blvd. N.W. in Washington D.C.’s Palisades neighborhood. Rick Fernandez and Andrew Fallon of Calkain Cos. arranged the transaction on behalf of the undisclosed seller. A group of New York-based private investors acquired the asset, which was 90 percent leased at the time of sale to tenants such as Starbucks Coffee and The UPS Store on the ground floor. The upper two floors of the building house office space.

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WILLIAMSBURG, VA. — HREC Investment Advisors has brokered the sale of the 295-room DoubleTree by Hilton Hotel in Williamsburg. Ketan Patel and Monty Levy of HREC arranged the transaction on behalf of the seller, an affiliate of Waramaug Hospitality. An affiliate of Shamin Hotels, a Virginia-based hotel owner and operator, acquired the asset. The sales price was not disclosed. The DoubleTree by Hilton Hotel is located adjacent to the Busch Gardens theme park, a half-mile from Anheuser Busch’s Williamsburg Budweiser brewery and five miles from the Yorktown Naval Weapons Station.

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ELGIN AND DOWNERS GROVE, ILL. — Brown Commercial Group has negotiated the sale of two industrial buildings totaling 63,128 square feet in Illinois. The sales prices were not disclosed. Nottingham Realty Group LLC purchased a 38,128-square-foot industrial building located at 1700-1730 Todd Farm Drive in Elgin. The building is fully leased and located within the Windsor Commerce Center. Brian Lindgren of Brown represented the buyer, who was completing a 1031 exchange. John D’Orazio of Colliers International represented the seller, Cristie Ann Enterprises LLC. Lindgren also represented Premium Investment Properties LLC in its purchase of a 25,000-square-foot building at 2211-2239 Curtiss St. in Downers Grove. The seller was Simborg Industrial Real Estate LLC.

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SAUKVILLE, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 30,197-square-foot industrial building in Saukville, about 25 miles north of Milwaukee. The sales price was not disclosed. The property is located at 851 N. Progress Drive. Nick Keys and Roger Siegel of Dickman brokered the transaction. Progress13 LLC purchased the asset from Denz Group LLC.

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Hotel-MdR-LA

LOS ANGELES — HFF has arranged the sale of Hotel MdR – a DoubleTree by Hilton Hotel located at 13480 Maxella Ave. in West Los Angeles’ Marina del Rey submarket. Lubert-Adler, Channel West Group and Arris Investment sold the 283-room hotel to U.K.-based London & Regional Properties for an undisclosed price. Hotel MdR was renovated and repositioned as a soft-branded DoubleTree Hotel in 2014. The property features an outdoor heated pool and patio, fitness facility, 24/7 business center, market, energy room with ping-pong table, 5,429 square feet of indoor/outdoor event space and Barbianca Local Kitchen. Tony Malk, Scott Hall and Aaron Lapping of HFF represented the seller in the deal. Additionally, Brad Greenway, Kevin MacKenzie and Matthew Stewart of HFF arranged a five-year, floating-rate loan with a Germany-based lender for the buyer.

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3560-E-Main-St-Farmington-NM

FARMINGTON, N.M. — SVN|Chicago Commercial has arranged the sale of retail ground lease located at 3560 E. Main St. in Farmington. An institutional buyer acquired the property from a private investment group for $9.1 million. The Home Depot occupies the property on an absolute triple-net lease basis. Tim Franz of SVN|Chicago Commercial represented the seller in the transaction.

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2155-S-Josephine-St-Denver-CO

DENVER — JOS Investments LLC has completed the disposition of a multifamily property located at 2155 S. Josephine St. in Denver. 251 Josephine LLC purchased the 12,777-square-foot building for $3.4 million, or $270 per square foot. Matt Lewallen of Pinnacle Real Estate Advisors represented the buyer, while Kevin Calame, also of Pinnacle, represented the seller in the deal.

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TUCSON, ARIZ. — Cushman & Wakefield|PICOR has brokered the sale of La Promesa Apartments, a multifamily property located at 2485 N. Alvernon Way in Tucson. La Promesa Homes LLC acquired the property from Our Family Services LLC for $2.3 million. The multifamily complex features 40 apartments. Allan Mendelsberg and Daniel Leibsohn of Cushman & Wakefield|PICOR handled the transaction.

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MECHANICSBURG, PA., NEW HAVEN, CONN. — Wilder Cos., in partnership with an institutional retail real estate fund, has acquired Silver Spring Square in Mechanicsburg and the Marketplace at Hamden in New Haven. The sales prices in the separate transactions were not disclosed. Together, the two shopping centers total 800,000 square feet of space. The 570,000-square-foot Silver Spring Square is home to the only Wegmans in the Harrisburg trade area and is shadow anchored by a Target and Kohl’s. The Marketplace at Hamden, which was purchased in partnership with Silver Peak Real Estate Partners, features 235,000 square feet of retail space. Current tenants include T.J. Maxx, Staples, Old Navy, Petco, Pier One Imports, and TGI Fridays.

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NEW YORK CITY — Cushman & Wakefield has negotiated the sale of the Williamsburg campus of Boricua College located at 186 N 6th St. in Brooklyn for $31.1 million. The buyer was developer David Dweck. The campus consists of two adjoining lots with three brick buildings — a main school building, a gymnasium and a four-story multifamily building. All three buildings are vacant. Boricua College maintains three campuses in Manhattan at 3755 Broadway, the Bronx at 890 Washington and in Brooklyn at 9 Graham Ave. Guthrie Garvin, Brendan Maddigan, Ethan Stanton, Michael Gembecki and Alexander Ball of Cushman & Wakefield represented the seller, Boricua College, in the transaction.

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