TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Wildflower Apartments, a multifamily property in Tucson. An entity doing business as Wildflower Apts LLC acquired the asset from Aim Higher Properties LLC for $2.5 million. Located at 2850 N. Alvernon Way, Wildflower features 28 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.
SHELTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Huntington Townhomes, a 99-unit multifamily property in Shelton, located in southern coastal Connecticut. Built on seven acres in 2008, the property features 86 townhomes and 13 two- and three-bedroom apartments with an average size of 1,414 square feet. Amenities include a pool, fitness center and outdoor grilling and dining stations. Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel of IPA represented the seller, Inland Private Capital Corp., and the buyer, Beachwold Residential, in the transaction.
HOUSTON — A partnership between locally based investment firm LandPark Advisors and The Porter Law Firm has purchased 2603 Augusta, a 244,804-square-foot office building in Houston’s Galleria district. The law firm is in the process of relocating from 2201 South Voss to the 16-story building, which features newly renovated common areas, including bathrooms and amenity spaces, as well as updated infrastructure. The new ownership also plans to add pickleball courts and a golf simulator to the amenity package. The sales price was not disclosed.
AUSTIN, TEXAS — Northmarq has brokered the sale of Cielo at North Domain, a 64-unit apartment complex in North Austin. Built in 1973, the property consists of eight two-story buildings that primarily house one-bedroom units with an average size of 600 square feet. About half the residences have been recently upgraded with new appliances, windows, fixtures, hardware and countertops. Hayden Schnieders, Scott Lamontagne, Will Collier and Jordan Vaughn of Northmarq represented the seller, Atlanta-based Zavala Capital Group, in the deal. The buyer was Texas Housing Conservancy, an Austin-based multifamily operator.
MILWAUKEE — Marcus & Millichap has arranged the sale of a 25,154-square-foot retail property occupied by grocer Sentry Foods in Milwaukee for an undisclosed price. The asset was built in 1960, and Sentry has occupied the space since 2008. There are 4.5 years remaining on the lease. Ben Kohl and Mitchell Kiven of Marcus & Millichap represented the seller, a local family. The property sold at 95 percent of the list price and a cap rate of 7.94 percent. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.
MICHIGAN AND WISCONSIN — NAI Pfefferle has negotiated the sale of a five-property self-storage portfolio in Michigan and Wisconsin. The assets total 355 units across 73,358 square feet. The sales price was undisclosed, but the asking price was $3.9 million. Jonathan Glassco of NAI Pfefferle brokered the sale. Buyer and seller information was not provided.
CHANNAHON, ILL. — Industrial Outdoor Ventures (IOV) has acquired a 10-acre industrial service facility in Channahon near Joliet for an undisclosed price. Located on Riverside Drive, the asset consists of four grade-level equipment maintenance facilities, each approximately 15,000 square feet. The yard area can accommodate 128 trailer parking stalls. The property, leased to six tenants on a short-term basis, is situated near the BNSF and UP intermodals as well as I-55 and I-80. Josh Hearne, Andrew Bobak and Reiner Pranger of Cawley Chicago have been named the leasing agents for the property. Patrick Stanton of Patrick Commercial represented the undisclosed seller.
PONTIAC, ILL. — Quantum Real Estate Advisors Inc. has brokered the $1.4 million sale of a 5,246-square-foot retail building in Pontiac, about 100 miles southwest of Chicago. The fully leased property is home to Jimmy John’s, T-Mobile, SmokeZone and Great Clips. Dan Waszak, Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, a Midwest-based developer, which constructed the building in 2019. The asset sold to a Southeast-based investor completing a 1031 exchange.
SEATTLE — EQT Exeter Real Estate Income Trust has purchased LogistiCenter @ Oxbow, a distribution facility in Seattle, for $81.5 million. Brett Hartzell and Paige Morgan of CBRE National Partners West represented the seller in the transaction. The seller was not disclosed, but the property was listed as a previous project on Dermody Properties’ website. Situated on 45.1 acres at 2871 S. 102nd St., LogistiCenter @ Oxbow offers 202,464 square feet of industrial space. Built in 2021, the property features low 10 percent coverage, 36-foot clear heights, 135-foot truck courts and a full drive-around capacity. The property was built as a build-to-suit for Amazon, according to Dermody Properties.
BRENTWOOD, CALIF. — CenterCal Properties and Heitman, through a joint venture, have purchased The Streets of Brentwood, a shopping destination in Brentwood. Terms of the transaction were not released. The Streets of Brentwood offers 358,700 square feet of retail and mixed-use space that serves four major California regions — Bay area, Tri-Valley, Sacramento Delta and the Central Valley. The buyers plan to reimage and enhance the center’s offerings, including the addition of a community gathering space for seasonal events and more lifestyle brands and restaurants.