SEATTLE AND REDMOND, WASH. — Goodman Real Estate has sold two multifamily properties near Seattle for a combined total of $172 million. Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE represented the Seattle-based seller in both transactions. Each property was developed in 2024 and sold to undisclosed buyers. CRU at Willows 124 in Redmond traded for $94 million. The 195-unit, six-story building sits on 1.6 acres within a master-planned community adjacent to Willows Run Golf Club and includes 22,998 square feet of fully leased commercial space across three suites. The property features a mix of studio, one- and two-bedroom floor plans along with a rooftop terrace, three clubhouses, fitness center, two work-from-home lounges and a basketball court. Baldwyn Apartments is a 235-unit property located at 10712 5th Ave. NE in Seattle’s Northgate neighborhood, adjacent to the site of Simon Property Group’s Northgate Station redevelopment. Northgate Station is a 55-acre mixed-use project that includes the Kraken Community Iceplex and additional retail spaces that will be opening through 2028.
Acquisitions
LEHI, UTAH — Gelt Venture Partners (GVP) has purchased Drexler Townhomes, a Class A townhome community located south of Salt Lake City. The original developer sold the property for an undisclosed price in an off-market transaction. Completed in 2023, Drexler features 117 two-, three- and four-bedroom townhome units averaging 1,705 square feet with attached two-car garages and private driveways. The property is located on 10.8 acres at 2790 N. Segundo Drive. The original developer completed the conversion of 24 unfinished basements into fourth bedrooms, and GVP plans to finish 35 additional basement bedroom conversions.
LAGUNA NIGUEL, CALIF. — JLL Capital Markets has arranged the $20.5 million sale of Crown Valley Mall, a grocery-anchored retail center located near Laguna Beach. A private family, which had owned the property since it was originally built in 1969, sold the asset to Charlotte-based Asana Partners. Tenants at the 62,627-square-foot Crown Valley Mall include Smart & Final, Baja Fish Tacos, Domino’s and Avis. The property is located at 30252 Crown Valley Parkway. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets’ Sale and Advisory represented the seller and sourced the all-cash institutional buyer in the transaction.
HOLLAND, MICH. — An affiliate of Inland National Development Co. LLC, a member company of The Inland Real Estate Group of Cos. Inc., has sold Tru by Hilton Holland (98 rooms) and Home2 Suites by Hilton Holland (109 rooms) for a combined sales price of $32 million. The hotel properties are located along US 31, providing convenient access to Holland State Park and Ottawa Beach. Tru by Hilton caters to short-term travelers with amenities such as a hot breakfast, indoor heated pool and fitness center. Home2 Suites by Hilton is designed for extended-stay guests, featuring apartment-style accommodations with fully equipped in-suite kitchens, complimentary Wi-Fi and breakfast. Guests of both hotels can benefit from shared amenities.
CHICAGO — Kiser Group has brokered the $3.9 million sale of an 11-unit property located at 1756 W. North Ave. in Chicago’s Wicker Park neighborhood. The property consists of three commercial spaces and eight apartments. Gut-renovated in 2020, the building features updated plumbing, electrical, roofing, windows and interiors. The asset was fully occupied at the time of sale. Jake Parker, Andy Friedman and Viktor Radzieta of Kiser brokered the transaction. The property sold to an all-cash buyer.
DALLAS — Marcus & Millichap has brokered the sale of Infinity on the Point, a 249-unit apartment complex in North Dallas. According to Apartments.com, the property offers one- and two-bedroom units. Amenities at the three-story, garden-style property include a pool, sundeck, grilling stations, dog park, fitness center, package lockers and covered parking. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap, along with Drew Kile, Taylor Hill, Joey Tumminell, Michael Ware and William Hubbard of Marcus & Millichap’s Institutional Property Advisors (IPA) division, represented the seller, a California-based investment company, in the transaction. The team also procured the buyer, Reap Capital, which plans to rebrand the property as The Creekside at Vantage.
DALLAS — Newmark has arranged the sale of 8020 Park Lane, a 120,923-square-foot office building located within The Shops at Park Lane mixed-use district in North Dallas. Built in 2015, the five-story building was fully leased at the time of sale to Energy Transfer LP. Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan of Newmark represented the seller, Northwood Investors, in the transaction. Andrew Porteous, Clint Frease, Chris McColpin and Josh Francis, also with Newmark, arranged acquisition financing on behalf of the buyer, DFW Land.
INDIANAPOLIS — Colliers has negotiated the sale of a six-building industrial portfolio totaling 954,072 square feet throughout the Northwest, Northeast and Southwest submarkets of metro Indianapolis. The assets are located in Indianapolis, Fishers and Plainfield. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Jason Speckman, Jimmy Cohoat and Andrea Hopper of Colliers represented the seller, EQT. Wisconsin-based MLG Capital was the buyer. The portfolio was 90 percent leased to 10 tenants at the time of sale with a weighted average lease term of 4.6 years. Suite sizes range from approximately 24,000 square feet to more than 260,000 square feet. Roughly 40 percent of the square footage is leased to investment-grade tenants. Four of the six assets are located within Park 100, one of the largest industrial parks in Indianapolis.
MUNDELEIN, ILL. — Marcus & Millichap has arranged the nearly $14 million sale and financing of a LA Fitness-anchored, four-suite retail property in Mundelein. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, an experienced real estate investor and developer in Chicagoland. The Sharko | Weisenbeck | Mendoza Group also procured the out-of-state buyer, which completed a 1031 exchange. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $9.8 million in acquisition financing through a regional lender. The 89,357-square-foot shopping center is situated on 7.5 acres at 1555 S. Lake St. Built in 2019, the property is home to Kids Empire, The Dog Stop and The Picklr Club. The asset is part of Townline Square Shopping Center.
JACKSON, MISS. — Newmark has arranged the sale of Highland Village, a 217,589-square-foot shopping center located at 4500 I-55 N in Jackson. Mississippi’s only Whole Foods Market anchors the 14.5-acre property, which was originally developed in 1960 and redeveloped in 2017 by the seller, WS Development. Charlotte-based Asana Partners purchased the shopping center for an undisclosed price. Conor Lalor of Newmark represented the seller in the transaction. Highland Village was approximately 90 percent leased at the time of sale to tenants including Free People, Kendra Scott, lululemon and Maison Weiss.