WAUKEE AND JOHNSTON, IOWA — CBRE has brokered the sale of a two-property multifamily portfolio totaling 540 units in the Des Moines suburbs of Waukee and Johnston. CBRE’s Cy Fox, Ray Hamilton and Clark Matthews represented the sellers, ARTISAN Capital Group and MLG Capital. The portfolio includes Alice Patricia Apartments in Waukee and Sterling Pointe Apartments in Johnston. Built between 2013 and 2020, the properties are located less than eight miles apart.
FAIRFIELD AND VACAVILLE, CALIF. — Newmark has brokered the sale of NorthBay Health Medical Outpatient Building Collection in Northern California’s Solano County. Totaling 222,073 square feet, the six fully leased healthcare buildings are located in Fairfield and Vacaville, Calif. NorthBay Health fully occupies the portfolio, which comprises five medical outpatient facilities and NorthBay Health’s office headquarters. HealthCore Foundation acquired the portfolio for $130 million. Ben Appel, Justin Shepherd, Jay Miele, John Naro, Michael Greely and Ron Ott of Newmark advised the undisclosed seller in the deal.
DENVER — Colliers Denver Investment Services Group has arranged the sale of 4001 Holly Street, a multi-tenant industrial building on 2.5 acres in Denver’s North Central submarket. DMS Real Estate sold the asset to Watumull Properties Corp. for $8.5 million. T.J. Smith, Nick Rice and Brad Calbert of Colliers Denver Investment Services Group represented the seller in the deal. At the time of sale, the 53,740-square-foot property was fully leased to three tenants. The building is demised into five small-bay units, each with dock-high and drive-in loading, and includes a fenced, paved and lighted outdoor storage yard.
SAN DIEGO — Pacific Coast Commercial has arranged the sale of an office property located at 2831 Camino del Rio S in San Diego. An entity doing business as Camino Del Rio South LLC sold the asset to 2381 Camino Del Rio South LLC for $6.2 million. Tommas Golia, Jason Vieira and Colton Speas of Pacific Coast Commercial represented the seller, while the buyer was self-represented in the deal. Stewart Title Guaranty Co. handled escrow and title services for the transaction.
RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners has negotiated the $6 million sale of Allmark Plaza, a 16,926-square-foot retail center located in Rancho Cucamonga. Built in 1986, Allmark Plaza was fully leased at the time of sale to tenants including Domino’s Pizza, Mini-Mart, a nutrition shop, Mexican restaurant, diet center, salon, donut shop, day spa, dry cleaners and a dental office. Lance Mordachini and Monica Dal Bianco-West of Progressive represented the buyer, a California-based private investor. The seller, Allmark Property Management, represented itself.
HUMBLE, TEXAS — Marcus & Millichap has brokered the sale of a 73-room Hampton Inn & Suites hotel in Humble, a northern suburb of Houston. The hotel was in 2016 and offers amenities such as an outdoor pool, fitness center, meeting rooms and a breakfast area. Rajan Patel, Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WOODCLIFF LAKE, N.J. — Cushman & Wakefield has brokered the $109.5 million sale of Tice’s Corner, a lifestyle shopping center located in the Northern New Jersey community of Woodcliff Lake. The square footage was not disclosed, but according to the brokerage team, the sale represents “one of New Jersey’s largest single-asset retail transactions of the past decade.” Tenants include The Apple Store (anchor), Pottery Barn, Anthropologie and Free People. Joanna Manfro of Cushman & Wakefield represented the buyer, Boston-based owner-operator WS Development, in the transaction. David Waldman of David Adam Realty represented the seller, an institutional owner doing business as WS Tice’s Inc.
NEW YORK CITY — A partnership between California-based private equity firm Hawkins Way Capital and global investment firm Värde Partners has acquired a student housing property in Manhattan’s East Village for $28 million. According to StreetEasy, the building at 81 E. Third St. was built in 2003, rises 13 stories and features 45 units. Information on floor plans and amenities was not disclosed. The partnership acquired the building, which can also support traditional multifamily usage, in an off-market transaction. The seller was not disclosed.
NEW YORK CITY — JLL has brokered the $23.5 million sale of a mixed-use development site in Brooklyn. The 26,730-square-foot site at 1150 Broadway is located at the nexus of the borough’s Bedford-Stuyvesant and Bushwick neighborhoods and is zoned for the development of apartments, retail space and/or community facilities. Brendan Maddigan, Steve Rutman, Mike Mazzara and Ethan Stanton of JLL represented the seller, A-PLUS International Realty, in the transaction. The buyer, a partnership between Brooklyn-based YS Developers and Rabsky Group, did not disclose specific development plans for the site.
CORAL GABLES, FLA. — The City of Coral Gables has purchased a medical office building located at 475–495 Biltmore Way in the city’s downtown district for $24 million. ShareMD sold the 53,029-square-foot property, which shares a city block with Coral Gables City Hall and the City’s Planning and Zoning Department. The City of Coral Gables, which now controls the entire block, has retained ShareMD’s property management affiliate, Medicus Asset Management LLC, to continue managing the building for an initial one-year term. Blanca Commercial Real Estate was the leasing agent for the property. In addition to the sale, ShareMD has announced it is rebranding to Parallel Medical Properties effective immediately. The firm owns and operates a 500,000-square-foot portfolio of medical office buildings in Florida and California.
