BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the sale of a car wash property located at 1701 Morrissey Drive in the Chicago suburb of Bloomington. The sales price was undisclosed. Meghan O’Neal-Rogozinski of AXIS 360 represented the buyer, 150 Partners LLC, which plans to continue operating the car wash while implementing significant upgrades in the coming months. Matthews Real Estate Investment Services represented the seller, Parkway Car Wash LLC.
SACRAMENTO, CALIF. — CBRE has arranged the sale of EVIVA Midtown, a Class A multifamily property in Sacramento. Sequoia Equities and Coit Financial sold the asset to CONAM, an affiliate entity of The CONAM Group’s Fund IV, for an undisclosed price. Marc Ross and Hasina Ahmadi of CBRE represented the sellers in the deal. Located at 1531 N. St., the six-story community offers 118 studio, one- and two-bedroom units with open floor plans, floor-to-ceiling windows, in-unit washers and dryers and Energy Star-rated stainless steel appliances. Community amenities include 5,639 square feet of retail space, a 24-hour fitness center, community lounge, fire pit, outdoor courtyard and 124 enclosed garage parking spaces.
FRISCO, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of Main Marketplace, a 115,736-square-foot shopping center located north of Dallas in Frisco. The center comprises nine buildings on a 14.6-acre site. At the time of sale, Main Marketplace was 97 percent leased to tenants such as Capriotti’s Sandwich Shop, Flix Brewhouse and Texas Family Fitness. Baylor Worman and Grayson Duyck of Matthews represented the buyer, a Texas-based private investor, in the all-cash transaction. Michael Austry and Jared Aubrey of CBRE represented the seller.
BLACKWOOD, N.J. — Berkadia has arranged the $23 million sale of three multifamily properties totaling 208 units in Blackwood, a suburb of Philadelphia. Blackwood Falls, Blackwood Terrace and Foxcroft Apartments had a combined occupancy rate of 85 percent at the time of sale. Nat Gambuzza and Trevor Fiebel of Berkadia represented the seller, Penn Properties, in the transaction while also procuring the buyer, Silverstone Properties. The new ownership assumed the seller’s existing debt at Blackwood Falls and Blackwood Terrace and plans to implement capital improvements across the portfolio.
FORT MYERS, FLA. — CBRE has brokered the $14.6 million sale of College Plaza, a retail center located at 7070 College Parkway in Fort Myers. An entity doing business as College Plaza Center LLC acquired the property from an entity doing business as College Venture 1 LLC. Jim Shiebler of CBRE represented both the buyer and seller in the transaction. Tenants at College Plaza, which totals 56,386 square feet, include Ada’s Natural Market, West Marine and Pet Supermarket. The center also features an outparcel occupied by Five Guys, Tijuana Flats and The Good Feet Store. College Plaza is situated within one mile of Florida Southern State College.
WALDORF, MD. — Marcus & Millichap has negotiated the $6.3 million sale of JSB Apartments, a 48-unit multifamily community located in Waldorf, a Maryland city near Washington, D.C. Marty Zupancic and Ryan Murray of Marcus & Millichap represented the seller, RGB Holding, in the transaction. JSB Apartments features one-bedroom units and is adjacent to the 150-acre Waldorf Station development, which will include a grocery store, fitness facility and retail space.
ELKHORN, NEB. — CBRE has arranged the sale of The Trails, an 85-unit build-to-rent community in the Omaha suburb of Elkhorn. The sales price was undisclosed. Located at 19111 Grand Ave. and completed this year, the property features a range of four- and five-bedroom floor plans averaging 1,814 square feet. Ted Abramson, Mark Seger and Jeremy Fink of CBRE represented the undisclosed seller. Curtis Capital Group was the buyer.
CLINTON TOWNSHIP, MICH. — Marcus & Millichap has brokered the $3.5 million sale of McLaren Macomb-Gratiot Medical Building, a 17,333-square-foot medical office property in the Detroit suburb of Clinton Township. The asset is fully leased to McLaren Macomb, a subsidiary of the McLaren Health Care Corp. The multi-specialty clinic serves as a hub for McLaren’s residency program and is situated near the affiliated 288-bed McLaren Macomb Hospital. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the seller, Platform Ventures LLC, and the buyer, Nova Sky Investments LLC.
SEATTLE — The special committee of the Board of Directors of Nordstrom (NYSE: JWN) has confirmed receipt of a proposal from Erik and Pete Nordstrom, members of the Nordstrom family, and El Puerto de Liverpool to acquire all of the outstanding shares of the Nordstrom, other than shares held by members of the Nordstrom family and Liverpool, for $23 per share in cash. If accepted, the deal would take the publicly traded company private. The proposal would be financed through a combination of rollover equity and cash commitment by members of the Nordstrom family and Liverpool and $250 million in new bank financing, with the existing indebtedness of the company to remain outstanding. There is no assurance that the company will pursue this transaction, and Nordstrom does not intend to disclose further developments regarding the proposal until further disclosure is determined to be appropriate or necessary. Morgan Stanley & Co. and Centerview Partners are acting as financial advisors to the special committee, and Sidley Austin LLP and Perkins Coie LLP are acting as legal counsel. Seattle-based Nordstrom’s stock price closed at $22.60 per share on Thursday, Sept. 5, up from $14.90 one year prior.
FONTANA, CALIF. — A joint venture between MCB Real Estate and a fund managed by DRA Advisors has purchased Falcon Ridge Town Center, a retail center at 15218-15320 Summit Ave. in Fontana, located in the Inland Empire region. An undisclosed party sold the asset for $65 million. Built in 2005 and renovated in 2023, Falcon Ridge offers 273,424 square feet of fully leased retail space. Current tenants include Ulta Beauty, Famous Footwear, Five Below, Michaels, Dollar Tree and Ross Dress for Less.