Tuesday, October 14, 2025
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Acquisitions

AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Brokers $7.9M Sale of Chicago Multifamily Portfolio

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the $7.9 million sale of a six-property, 38-unit multifamily portfolio in Chicago’s Noble Square neighborhood. The assets are located at 1516 N. Greenview Ave., 1452 N. Greenview Ave., 1350 N. Greenview Ave., 1302 N. Cleaver St., 1362 W. Crystal St. and 1049 N. Marshfield Ave. The properties feature a mix of one-, two- and three-bedroom units, many of which have been recently renovated. The portfolio also includes 10 income-producing garage spaces. Tyler Preissing and James Ziegler of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a local investment group.

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AcquisitionsDevelopmentIllinoisLee & AssociatesMidwestMultifamily

Lee & Associates Negotiates $6.5M Sale of Multifamily Development Site in South Elgin, Illinois

by Kristin Harlow

SOUTH ELGIN, ILL. — Lee & Associates of Illinois has negotiated the $6.5 million sale of 84.4 acres of residential land at 325 Umbdenstock Road in South Elgin. John Cassidy, Jay Farnam and Ken Franzese of Lee & Associates represented the seller, Spohr Family Trust. The buyer, Lennar/CalAtlantic Group LLC, was self-represented. The site was previously marketed for an industrial use for more than a decade, according to Farnam. Lee & Associates secured a residential home builder to purchase the site and worked with the village on a land entitlement and approval process.

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AcquisitionsGeorgiaNet LeaseRestaurantRetailSoutheast

Marcus & Millichap Brokers $2.7M Sale of New Restaurant in Metro Atlanta Leased to Whataburger

by John Nelson

ACWORTH, GA. — Marcus & Millichap has brokered the $2.7 million sale of a newly built restaurant located at 3558 Cobb Parkway NW in Acworth, a northwest suburb of Atlanta. Whataburger occupies the freestanding restaurant, which features a double drive-thru, on a new 15-year corporate ground lease. Don McMinn and Andrew Koriwchak of Marcus & Millichap represented the seller, an unnamed developer based in Georgia, in the transaction. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap procured the unnamed buyer. The 3,318-square-foot Whataburger restaurant was delivered in April and is adjacent to a Walmart Super Center and Super Target.

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AcquisitionsHealthcareIllinoisMidwestOffice

Greenstone Partners Arranges $6.1M Sale of Medical Office Building in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Greenstone Partners has arranged the $6.1 million sale of 1952 McDowell Road, a 55,000-square-foot medical and office building in the Chicago suburb of Naperville. The anchor tenant is Advanced Behavioral Health Services, which occupies the entire third floor and recently extended its lease through 2029. The asset was 86 percent leased at the time of sale. Jason St. John and AJ Patel of Greenstone represented the seller, a Naperville-based office operator. An outside broker represented the buyer, a local investor.

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AcquisitionsConnecticutHealthcareNortheast

Chozick Realty Negotiates $10.5M Sale of Connecticut Medical Office Portfolio

by Taylor Williams

HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $10.5 million sale of a portfolio of three medical office properties totaling 94,400 square feet in Connecticut. The portfolio comprises the two-building, 66,000-square-foot Twin Ponds Office Centre in Tolland; Windham Professional Park, a two-building, 16,400-square-foot complex in Windham; and Ledgebrook North, a 12,000-square-foot, three-building property in Mansfield. Tom Boyle of Chozick represented the undisclosed seller in the deal.

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AcquisitionsNew YorkNortheastOfficeTop Stories

Norges Bank Investment Management Agrees to Acquire 95 Percent Stake in Manhattan Office Building for $542.6M

by Kristin Harlow

NEW YORK CITY — Norges Bank Investment Management, the world’s largest sovereign wealth fund, has agreed to acquire a 95 percent interest stake in Manhattan’s 1177 Avenue of the Americas for $542.6 million. The deal values the 1 million-square-foot office property at $571.1 million. Boston-based Beacon Capital Partners will acquire a 5 percent interest in the building and will perform the asset management duties for the property on behalf of the new ownership. Eastdil Secured served as exclusive advisor to the seller, a joint venture between California State Teachers’ Retirement System (CalSTRS) and New York City-based Silverstein Properties. The transaction is expected to close this quarter. The sellers acquired the Sixth Avenue building at the end of 2007 for more than $1 billion. The 47-story property was completed in 1992. Notable tenants include law firm Kramer Levin, private equity firm Mill Point Capital, nonprofit Practising Law Institute and global insurance and investment organization Starr. The asset features a recently renovated lobby with 60-foot-high ceilings and a new outpost of Naya, a fast-casual Middle Eastern restaurant. Norges Bank Investment Management is an investment fund created to manage revenue from Norway’s oil-and-gas resources. The fund invests in equities, fixed-income investments, real estate …

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AcquisitionsMultifamilyTexas

Westmount Realty Capital Sells 200-Unit Townhome Complex in San Antonio

by Taylor Williams

SAN ANTONIO — Westmount Realty Capital has sold Westmount at Houston Street, a 200-unit townhome complex located at 4611 E. Houston St. in San Antonio’s East submarket. Developed on 18 acres in 2003 and acquired by Westmount in 2019, the 37-building property offers two-, three- and four-bedroom units with garages. Amenities include a pool, playground, dog park and a clubhouse with a business and fitness center. The buyer and sales price were not disclosed. The property was 91.5 percent occupied at the time of sale.

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AcquisitionsHospitalityTexas

NewcrestImage Buys 176-Room, Hilton-Branded Hotel in Plano

by Taylor Williams

PLANO, TEXAS — Locally based hospitality owner-operator NewcrestImage has purchased the 176-roomNYLO Dallas Plano hotel, which is part of the Tapestry Collection by Hilton family of brands. The five-story hotel is located within the 2,600-acre Legacy District business park and features a 4,000 square-foot patio surrounding a heated outdoor pool. NewcrestImage plans to implement a value-add program. The seller and sales price were not disclosed.

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AcquisitionsNorthmarqRetailTexas

Northmarq Brokers Sale of 14,803 SF Retail Strip Center in Manvel, Texas

by Taylor Williams

MANVEL, TEXAS — Northmarq has brokered the sale of Sedona Lakes Plaza, a 14,803-square-foot retail strip center in Manvel, located south of Houston. The center was fully leased at the time of sale to tenants such as HOTWORX, Smart Core Labs and Behavioral Innovations. Riley Sharman led the Northmarq team that represented the seller, a Houston-based developer, in the transaction. The buyer was Dallas-based Metro Real Estate LLC.

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AcquisitionsMixed-UseNew YorkNortheast

Marcus & Millichap Brokers $10.9M Sale of Manhattan Mixed-Use Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $10.9 million sale of a 13,000-square-foot mixed-use building in Manhattan’s Little Italy neighborhood. Constructed in 1900, the building at 385 Broome St. comprises five apartments that feature a mix of floor plans and are currently vacant, as well as two ground-floor spaces. Peter Dodge, Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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