DENVER — Pinnacle Real Estate Advisors has arranged the sale of Eliot Flats, a multifamily property located at 3233 Eliot St. in Denver. The asset traded for $8.8 million, or $220,000 per unit. Built in 2015, Eliot Flats offers 30 studio units and 10 one-bed/one-bath units. The property features a solar power system, Smart Water metering, and energy-efficient windows and finishes. Jim Knowlton of Pinnacle represented the undisclosed buyer in the deal. The name of the seller was not released.
BELVIDERE, ILL. — Cawley Commercial Real Estate (Cawley CRE) has brokered the sale of 140 acres in Belvidere, about 13 miles east of Rockford. A leading Fortune 500 company purchased the site with plans to build a 1.2 million-square-foot freezer cooler facility. Project costs are estimated at $1 billion. The project will include more than 1,000 trailer stalls as well as automation technology and will support the delivery of fresh and frozen food products across the Midwest. Completion is slated for 2027. David Conroy of Cawley CRE brokered the transaction.
EAGAN, MINN. — Transwestern Real Estate Services has arranged the sale of a 300,000-square-foot flex office building located at 1000 Blue Gentian Road in the Minneapolis suburb of Eagan. The sales price was undisclosed. The buyer, Hunt Electric Corp., will relocate its headquarters from nearby Bloomington. A national electric design, build and maintenance firm, Hunt Electric is currently headquartered in 160,000 square feet at 7900 Chicago Ave. S. Hunt Electric will own its new headquarters property and retain the four tenants currently occupying about half of the building. Chris Weirens, Nate Erickson, Alex Baron, Ben Youds and Max Stewart of Transwestern represented the buyer. Water Street Partners was the seller. Weirens, Erickson and Youds will also represent Hunt Electric in marketing its former property for sale or lease.
SOUTH BEND, IND. — A partnership between fifteenfortyseven Critical Systems Realty (1547) and Harrison Street has acquired the Global Access Point Union Station data center in South Bend for an undisclosed price. The data center sits atop the transcontinental fiber system connecting Chicago to the East Coast. Situated in the historic Union Station in northern Indiana, the property is ranked among the top U.S. carrier hotels and critical network hubs, according to 1547. The facility offers access to over 20 telecommunication network service providers. The buyers plan to make facility upgrades.
EL CAJON, CALIF. — Marcus & Millichap has arranged the sale of a multi-tenant retail property in El Cajon, an eastern suburb of San Diego. Two Squared LLC sold the asset to an undisclosed buyer for $1.5 million. At the time of sale, the 2,870-square-foot property was fully leased to two tenants, Final Touch Nails, Hair & Spa and Subway. The asset is located along the North 2nd Street retail corridor. Nick Totah and Ross Sanchez of The Totah Group of Marcus & Millichap’s San Diego downtown office represented the seller in the deal.
WAUKEGAN, ILL. — Interra Realty has brokered the $7.8 million sale of Sunset Village, an 84-unit multifamily property in the Chicago suburb of Waukegan. Located at 2205-10 N. Butrick St., the community was built over two phases in 1992 and 2001. There are 79 one-bedroom units and five two-bedroom units. Amenities include a secured entrance, lobby and lounge, fitness space, multiple laundry facilities and onsite parking. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the confidential seller. Waterloo and Zito represented a private local partnership in its acquisition.
CHASKA, MINN. — Marcus & Millichap has negotiated the $4.3 million sale of Townsquare Apartments in Chaska, an outer-ring suburb of Minneapolis. Located at 220 N. Walnut St. and built in 1989, the multifamily property features 30 units in two- and three-bedroom layouts. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the undisclosed seller. Jon Ruzicka, broker of record in Minnesota, assisted in closing the transaction. Nate Schammel of MRG Realty Partners represented the buyer, which completed the sale of a 12-unit apartment building in Minneapolis to exchange into this property.
ANNAPOLIS, MD. — Dallas-based Centennial, along with capital partners Sandeep Mathrani, Waterfall Asset Management and Lincoln Property Co. (LPC), has acquired Annapolis Mall, a 1.6 million-square-foot shopping mall in Annapolis. The mall sits roughly 30 miles east of Washington, D.C., in the Chesapeake Bay region. The property, which formerly operated as Westfield Annapolis, houses 200 shops and restaurants and is listed as the second-largest mall in the state, trailing only the 1.9 million-square-foot Arundel Mills mall in Hanover. Terms of the deal were not disclosed, but the seller and former operator, Paris-based mall giant Unibail-Rodamco-Westfield (URW), listed in its first-half 2024 earnings results that the company sold Annapolis Mall for $160 million. URW also reported it had received a nonrefundable deposit of $10 million as part of the disposition. According to Steven Levin, founder and CEO of Centennial, there are no other enclosed shopping centers located within a 25-minute drive of Annapolis Mall. “Long term, the property presents a unique opportunity to densify the site with complementary mixed uses that would benefit from retail as the integrated amenity,” says Levin. Annapolis Mall opened in 1980 and over the past few years has lost four anchor tenants — Lord & Taylor, Nordstrom, …
HOUSTON — Edge Realty Partners has negotiated the sale of a 24,000-square-foot retail property located at 5757 Westheimer Road in West Houston. The property is located within the Uptown/Galleria submarket and is home to a mix of national and local tenants. Chace Henke and Micha van Marcke of Edge represented the buyer, Last Mile Investments, in the transaction. Jim Bayne of Investar Real Estate Services represented the undisclosed seller.
HUMBLE, TEXAS — Partners Real Estate has arranged the sale of an 11,475-square-foot industrial building in the northern Houston suburb of Humble. According to LoopNet Inc., the building at 304-306 Wilson Road was constructed in 2016 and features a clear height of 16 feet. Darren O’Conor of Partners represented the buyer, an entity doing business as 304 Wilson LLC, in the transaction. Wyatt Huff and Hunter Stockard, also with Partners, represented the seller, Chosen Properties LLC.
