ARLINGTON HEIGHTS, ILL. — JLL Capital Markets has arranged the $25 million sale of FourNorth Apartments, a 76-unit boutique community in Arlington Heights. Completed in 2024, the property offers studio, one- and two-bedroom floor plans averaging 796 square feet. Amenities include a fitness center, resident lounge area, entertainment space, rooftop terrace and onsite management office. The five-story, pet-friendly building is 95 percent occupied. Bill Baumann, David Gaines and Sam Grohe of JLL represented the seller, Benchmark Developers. A private investor was the buyer.
Acquisitions
ADDISON, TEXAS— Newmark has brokered the sale of The Colonnade, an approximately 1 million-square-foot office campus located in the northern Dallas metro of Addison. The campus spans 12.4 acres and comprises three buildings that are connected by an enclosed, four-story atrium. The Colonnade was sold through the receivership process, with Stephen Schwalb, Chris Murphy, Robert Hill, Gary Carr and Austin Sheahan of Newmark representing the seller, a partnership between Trigild and CWCapital, in the transaction. The buyer, a partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co., has committed to investing approximately $100 million to reposition the campus. Initial property improvements are underway, with the first phase of upgrades expected to be completed throughout 2027.
HOUSTON — A partnership between Connecticut-based Cross Ocean Partners and Houston-based Fuller Realty has acquired Eldridge Place, an 828,784-square-foot office campus in Houston’s Energy Corridor. Eldridge Place comprises three buildings that span 245,315, 275,283 and 308,186 square feet. Engineering and construction firm Fluor Corp. anchors the campus with a footprint of 413,000 square feet, including occupancy of the entire third building. Other tenants at Eldridge Place, which had a campus-wide occupancy rate of 94 percent at the time of sale, include SM Energy, Pemex Procurement International, BakerRisk, Certarus and Petrobras America. Amenities include a fitness center, pickleball courts, a deli and a conference facility. The seller and sales price were not disclosed.
HELOTES, TEXAS — A limited partnership managed by Weitzman has purchased Helotes Plaza, a 51,933-square-foot shopping center located on the northwestern outskirts of San Antonio. The center was fully leased at the time of sale to tenants such as Dollar Tree, Advance Auto Parts, Dairy Queen, Harbor Health, Subway, Kumon and Momentum Physical Therapy. David Nicolson and Stephen Schmidt of Weitzman negotiated the sale on behalf of the partnership. SRS Real Estate Partners represented the undisclosed seller.
CHARLOTTE, N.C. — A joint venture between Lincoln Property Co., Vision Ventures and Hornets Sports & Entertainment has acquired Queen City Quarter, a 302,324-square-foot, four-level mixed-use destination in Uptown Charlotte. Formerly known as EpiCentre, the property spans 3.2 acres at 210 E. Trade St., which sits directly between the Charlotte Convention Center and Spectrum Center, home arena of the NBA’s Charlotte Hornets. Hornets Sports & Entertainment owns the team and operates Spectrum Center. Vision Ventures owned Queen City Quarter from 2010 to 2015. Patrick Gildea, Matt Smith, Adam Russ and Erin Varol of CBRE’s Charlotte office brokered the transaction. The property originally opened in 2008 and features restaurants, shops, offices and entertainment venues but has been in decline in terms of occupancy and traffic in recent years. CBRE took the then-known EpiCentre out of receivership in 2021 and announced it was leading the redevelopment and rebranding of the property to Queen City Quarter in 2022. The joint venture will evaluate opportunities to reposition the asset to “better serve the surrounding community and evolving needs of Uptown Charlotte.” According to Queen City Quarter’s property website and social media accounts, current tenants include Lucky Strike, Fleming’s Steakhouse, Insomnia Cookies, Kitchen + Kocktails, …
NEW YORK CITY — Nashville-based brokerage firm Matthews has negotiated the $12 million sale of 101 Bowery, a hospitality building in Manhattan’s Chinatown district that was formerly housed the New World Hotel. The building is a five-story, 13,260-square-foot, single-room occupancy (SRO) structure that comprises an owner-occupied ground-floor retail space and four vacant floors that are designated for lodging use. Stephen Dadourian of Matthews represented the seller, a local family, in the transaction. The buyer was not disclosed.
Joint Venture Purchases 962-Bed Student Housing Community Near Mississippi State University
by John Nelson
STARKVILLE, MISS. — A joint venture between an affiliate of Monument Square Investment Group and funds managed by an undisclosed investment management firm has purchased The Social Block and Townhomes, a 962-bed student housing community located near the Mississippi State University campus in Starkville. The property offers 385 units in two- and four-bedroom apartment and townhome configurations. Shared amenities include a resort-style pool, 24-hour fitness center, business lounge, green space and grilling stations. The seller and terms of the transaction were not released.
DAHLONEGA, GA. — JLL has arranged the sale of Dahlonega Village, a Publix-anchored shopping center located at 23 Maxwell Lane in Dahlonega, which sits 65 miles northeast of Atlanta. A private investor purchased the property from Watkins Real Estate Group for $21.2 million. Jim Hamilton, Brad Buchanan and Charlie Merrigan of JLL represented the seller in the transaction, and Austin Sumner Properties represented the buyer. Built in 2024, Dahlonega Village sits on 13.4 acres and has direct access to Ga. Highway 400. The grocery-anchored shopping center was fully leased at the time of sale to tenants including Great Clips, The UPS Store, Lifestyle Nail Bar, Spice Wing, Jersey Mike’s Subs, Tropical Smoothie Café, Rachel Remington Design, Itala Pizza and Hacienda Bar & Grill. Publix has 19 years remaining on its initial lease term at the center, according to JLL.
FOUNTAIN VALLEY, CALIF. — SlateView Capital has completed the acquisition of Parkview Estates, a 151-unit assisted living and memory care community located in Fountain View, approximately 40 miles southeast of Los Angeles. Amenities at the property, which was completed in 2021, include restaurant-style dining, activity spaces, a fitness and therapy area, a salon and a theater. The seller and sales price were not disclosed. This marks the second acquisition for SlateView since the firm’s inception. Azhar Jameeli, formerly of IRA Capital, and Kendall Young established SlateView in late August.
CHICAGO — Colliers has arranged the $70.6 million sale of a purpose-built educational facility at 161 W. 9th St. within Chicago’s Roosevelt Collection. The 102,000-square-foot property is fully occupied by the British International School of Chicago, South Loop, under a long-term absolute net lease. W. P. Carey acquired the property. Todd Noel, Mindy Korth, Kyle Campbell and David Burden of Colliers represented the seller, EPR Properties. Josh McGee, Austin Little, Christian Rahe and Jack Johnson of Colliers helped facilitate the transaction. Completed in 2015, the campus was designed to serve students from preschool through 12th grade and comprises a. three-story building.