CASTLE ROCK, COLO. — White Line Investments has purchased a 2,818-square-foot retail property at 21 N. Wilcox St. in Castle Rock. GPC LLC sold the asset for $1.3 million, or $479.06 per square foot. Built in 2021, the property is currently occupied by Granelli’s Pizzeria and Oasis Pet Salon. Charlie Cummings of Innovate Commercial Real Estate represented the buyer, which is a newly formed entity comprised of the property’s current tenants. John Propp of John Propp Commercial Group represented the seller in the deal.
URBANA, ILL. — Marcus & Millichap has brokered the $3.4 million sale of Gateway Shoppes at Five Points in Urbana. The 12-suite retail property consists of two strip centers totaling 29,595 square feet that were 95 percent leased at the time of sale. Jeremie Johnson and Nathan Whalen of Marcus & Millichap represented the seller, Prairie Holdings Newton LLC. David O’Keefe, Steve Bogoyevac and Johnathan Weir of Marcus & Millichap procured the buyer, Nikolas Chugay. Michael Derk of Marcus & Millichap Capital Corp. secured a $2.7 million acquisition loan on behalf of the buyer. The 10-year loan features a 6.74 percent interest rate with a 30-year amortization period and 80 percent loan-to-value ratio.
LANSING, MICH. — TruCore Investments has acquired a fully leased industrial building totaling 30,770 square feet at 4908 Contec Drive in Lansing. Built in 1999, the facility sits on 2.2 acres and features 24,050 square feet of warehouse space and 6,720 square feet of office space. There are 55 parking spaces, two conference rooms, a reception area, breakroom, two docks, two drive-in doors and a 24-foot warehouse ceiling height. The property is fully leased to Extend Your Reach, a full-service mail and marketing company. Christopher Miller of Martin Commercial Properties brokered the transaction.
DOLTON AND OAK LAWN, ILL. — Interra Realty has arranged two multifamily sales in suburban Chicago totaling 53 units. A three-building, 41-unit portfolio in Dolton sold for $3.2 million, while a 12-unit building in Oak Lawn transacted for $1.8 million. Michael Duckler of Interra represented the confidential buyers and sellers in both deals. The Dolton portfolio was nearly fully leased at the time of sale. Half of the units have recently undergone full or partial renovations, including new laminate flooring and updated kitchens. The Oak Lawn asset was fully leased at the time of sale. The price represented one of the highest price-per-unit sales in Oak Lawn in the last decade, according to CoStar data.
BOSTON — Marcus & Millichap has brokered the $7.3 million sale of Bennington Arms, a 28-unit apartment building in East Boston. The three-story building at 720 Bennington St. is located in the Orient Heights neighborhood and houses 17 one-bedroom units and 11 studios, half of which were recently renovated. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WHITMAN, MASS. — Locally based brokerage firm The Stubblebine Co. has negotiated the sale of a 14.3-acre industrial outdoor storage (IOS) facility in Whitman, located south of Boston in Plymouth County. The site at 215 Bedford St. includes a 23,255-square-foot warehouse and 4.8 paved acres. Matty Drouillard and James Stubblebine of The Stubblebine Co. represented the seller, a limited liability company, in the transaction and procured the buyer, Philadelphia-based Alterra IOS
BETHESDA, MD. — Solera Senior Living has acquired Brightview Bethesda Woodmont, an assisted living and memory care community located in Bethesda, a suburb of Washington, D.C. Brightview Senior Living sold the eight-story property for an undisclosed price. Solera will rebrand the community, which totals 113 units, as Modena Reserve at Bethesda. Amenities include rooftop decks, a formal dining room, upscale pub, multipurpose room for entertainment and gatherings, private dining room, library, fitness center, beauty and barber shop, movie theater and 24-hour concierge services. Solera also plans to reopen the community’s café, which will feature craft-brewed coffee and local gourmet pastries. Denver-based Solera owns and operates independent living, assisted living and memory care communities across seven states.
ORLANDO, FLA. — Core Investment Management (CORE) has acquired Dellagio Town Center, a 109,489-square-foot retail center in Orlando, for $37.5 million. Located along the Dr. Phillips retail corridor, the multi-tenant center features 30 different brands including AdventHealth Medical Group, Nola’s Ice Cream, Fleming’s Prime Steakhouse & Wine Bar, Fred Astaire Dance Studios and Fifth Third Bank. CORE plans to enhance the property with an improved tenant mix and aesthetic renovations.
JACKSONVILLE, FLA. — Cushman & Wakefield has brokered the sale of a 587,815-square-foot industrial facility located on a 28-acre parcel at 5245 Commonwealth Ave. in Jacksonville’s Westside submarket. Rick Brugge, Mike Davis, Rick Colon and Dominick Montazemi of Cushman & Wakefield represented the seller, a fund managed by DRA Advisors, in the transaction. Treetop Cos. acquired the property for an undisclosed price. Situated near I-10 and I-295, the property includes a vacant 560,688-square-foot warehouse and a 27,127-square-foot outparcel building fully leased to Conlan Tire.
AUBREY, TEXAS — Texas-based investment firm SPI Advisory has acquired Encore 380, a 416-unit apartment community in Aubrey, located north of the metroplex in Denton County. Built in 2017 as Century 380, the property offers one-, two-, three- and four-bedroom units that are furnished with stainless steel appliances, granite countertops, kitchen islands and washer/dryer connections. Select units feature private yards. Amenities include a pool, fitness center, clubhouse, playground, computer lounge, dog park, package lockers and outdoor grilling and dining stations. Eastdil Secured represented the undisclosed seller in the transaction. SPI plans to upgrade unit interiors, building exteriors and common spaces.