Acquisitions

GREEN BAY, WIS. — Stage Equity Partners LLC has acquired St. Mary’s medical office building in Green Bay for $7.3 million. The 50,000-square-foot property is fully leased to St. Mary’s Hospital Medical Center and operates under the Prevea Health brand as well as St. Gianna Clinic. The asset is located at 1727 Shawano Ave., directly across from St. Mary’s Hospital Medical Center. Considered part of the hospital campus, the property offers heart care, physical and occupational therapy, behavioral healthcare, fertility care and other specialty services. Stage purchased the asset from its longtime physician owner with a new 10-year lease extension. MB Financial provided acquisition financing.

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RACINE, WIS. — Podolsky Circle CORFAC International has arranged the $2.7 million sale of a 31,638-square-foot office building in Racine, about 30 miles south of Milwaukee. Built in 2002, the two-story property is located at 5439 Durand Ave., across from Regency Mall. Multiple tenants occupy the building, including Associated Bank, Advanced Medical Imaging, CleanSlate Medical Group of Wisconsin and Habush, Habush & Rottier. The buyer, Gateway Investment Partners, plans to upgrade the common areas, restrooms, parking lot, signage and landscaping. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Spirit Lake Acquisition II LLC.

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175-Southbelt-Industrial-Drive-Houston

HOUSTON — NAI Partners has negotiated the sale of a distribution center totaling 172,848-square-feet located at 175 Southbelt Industrial Drive in Houston. Clay Pritchett of NAI Partners represented the buyer, TTD Houston Realty LLC, a subsidiary of New England-based online furniture importer and distributor East-West Furniture LLC. The company will relocate its entire operation from the Boston area to Houston. Derek Russell and Larry Gray of Oxford Partners represented the seller, CLARK-ELLIOT LLC.

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KENNEDALE, TEXAS — Karr Self-Storage, a division of Marcus & Millichap, has brokered the sale of Kennedale Self Storage, a 324-unit facility in Kennedale, a southeastern suburb of Fort Worth. The drive-up, non-climate-controlled units total 36,810 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor who built the property in 1985, in the sale. A Dallas-based self-storage owner/operator purchased the property for an undisclosed price.

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ROWLETT, TEXAS — Lee & Associates has arranged the sale of a 21,400-square-foot industrial building located at 5201 Grisham Drive in Rowlett, an eastern suburb of Dallas. Taylor Stell, Brett Lewis and George Tanghongs of Lee & Associates represented the seller, Favcon Partners, in the transaction. Other terms of sale were not disclosed.

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100-Merrick-Rd-NYC

NEW YORK CITY – Valley East Management has acquired a two-building office complex located at 100 Merrick Road within Rockville Centre in Long Island. A New York investment advisory firm sold the asset for an undisclosed price. The 141,000-square-foot complex features an on-site café, tenant storage and on-site parking. At the time of sale, the property was 93 percent leased to a variety of tenants in the legal services, medical/healthcare and accounting industries. Jose Cruz, Kevin O’Hearn, Jeffrey Julien, Stephen Simonelli and Michael Oliver of HFF represented the seller and procured the buyer in the deal.

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328-338-Commerce-Dr-Fairfield-CT

FAIRFIELD, CONN. – Angel Commercial has arranged the sale of two adjacent office buildings located at 328 and 338 Commerce Drive in Fairfield. CDR-328 LLC acquired the properties from 328 Commerce Drive LLC and 338 Commerce Drive LLC for $8.2 million. Situated on 1.9 acres, the properties total 48,958 square feet of office space. Angel Commercial solely handled the off-market transaction.

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GREENSBORO, N.C. —Vesper Holdings has acquired University Village, a 600-bed student housing community in Greensboro, for $40 million. The name of the seller was not disclosed. The community is located across the street from the main entrance of the University of North Carolina at Greensboro (UNCG). Constructed in 2006, the community includes a mix of two-, three- and four-bedroom floor plans with bed-to-bath parity. Community amenities include a clubhouse, swimming pool, 24-hour fitness center, business center, computer lab and tanning bed. Vesper plans to invest $1 million to renovate unit interiors and amenities, as well as enhance the property’s exteriors.

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MIDDLETOWN, N.Y. – Marcus & Millichap has brokered the sale of an office property located at 220 Crystal Run Road in Middletown. A private investor sold the property to an undisclosed buyer for $2.7 million. Since 1998, Fresenius Dialysis has occupied the 10,000-square-foot building. Michael Lombardi and Steven Schiavello of Marcus & Millichap represented the seller, while Christopher Mitchel and Ryan Moore, also of Marcus & Millichap, represented the buyer in the transaction.

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