RIVERSIDE, CALIF. — Longpoint has acquired Five Points Plaza, a retail center located at 4652-4822 La Sierra Ave. in Riverside, from a private family that originally developed the center. Stater Bros, Del Taco, Jack in the Box and Dollar Tree are tenants at the 129,699-square-foot property. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets Investment Sales and Advisory represented the buyer in the transaction.
PARKER, COLO. — Trevey Commercial Real Estate has arranged the sale of Greg’s Auto Repair Building, a 9,104-square-foot freestanding commercial property situated on 0.77 acres at 10310 S. Dransfeldt Road in Parker. Bellagnu Land Holdings LLC (formerly Greg’s Auto Repair) sold the the property to 10310 Dransfeldt LLC for $3.3 million. The new owner plans to lease the building to Crash Champions, which is currently operating a facility in the adjacent building. Mitch Trevey and Nick Beach of Trevey Commercial Real Estate represented the seller, while Scott Churchley of Cresa represented the buyer in the transaction.
MONTICELLO, N.Y. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $3.2 million sale of Jefferson Garden Apartments, a 76-unit multifamily complex in Monticello, about 100 miles north of New York City. Completed in 1969 and last renovated in 2023, the garden-style property consists of seven buildings that house two studios, 47 one-bedroom apartments, 18 two-bedroom residences and nine three-bedroom units. Janet Bortz of Kislak represented the buyer and seller in the transaction.
DEERFIELD, ILL. — Mid-America Real Estate Corp. has brokered the sale of Deerbrook Shopping Center, a Jewel-Osco-anchored shopping center in the Chicago suburb of Deerfield. The 428,612-square-foot property is home to tenants such as Marshalls, Floor & Décor, Sky Zone, Office Depot, Starbucks, Panera, Noodles & Co., Sleep Number, City BBQ, Mattress Firm and Subway. Rick Drogosz, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, a global investment advisor. Core Acquisitions LLC was the buyer. The center offers immediate value-add and redevelopment opportunities, according to Mid-America.
ST. CLOUD, MINN. — Marcus & Millichap has arranged the sale of two multifamily properties in the Minneapolis suburb of St. Cloud for $9.7 million. Brookwood Apartments was built in 1987 and includes 102 units across 89,225 rentable square feet. Pine Pointe Apartments, constructed in 1989, features 78 units totaling 73,933 rentable square feet. The properties are less than a mile apart and offer a mix of studio, one-, two- and three-bedroom floor plans. Chris Collins and Evan Miller of Marcus & Millichap represented the seller, a Minnesota-based limited liability partnership. Collins and Matthew Shide procured the buyer, a Minnesota-based limited liability company.
MUNDELEIN, ILL. — SVN Chicago Commercial has negotiated the $1.5 million sale of a 31,600-square-foot industrial property at 404 Washington Blvd. in Mundelein. Situated on 2.4 acres, the property features a large, paved parking lot approved for outside storage and truck parking. The undisclosed buyer plans to use a portion of the building and lease out the rest. SVN Chicago Commercial’s Next Level Team represented the seller and procured the buyer.
NEW YORK CITY — Lument Securities has arranged the $140 million sale of four long-term healthcare communities in West Virginia. Marx Development Group (MDG) purchased the 511-bed portfolio and has selected its subsidiary, Majestic Care, to operate the communities. Laca Wong-Hammond of Lument Securities represented the seller, the State of West Virginia, in the transaction. The properties include Hopemont Hospital in Terra Alta, Jackie Withrow Hospital in Beckley, John Manchin Sr. Health Care Center in Fairmont and Lakin Hospital in West Columbia. In addition to funding the purchase, the closing provides for a minimum of another $80 million that MDG has committed to using for the construction of three to five new long-term care communities in the coming years.
NAPLES, FLA. — CBRE has brokered the sale of Altis Santa Barbara, a 242-unit apartment community located at 4710 Altis Drive in Naples. Northland purchased the property for an undisclosed price. Robert Given, Neal Victor and Chris Smiles of CBRE represented the seller, a joint venture sponsored by Altman, in the transaction. Tracy Kennedy, Tony Stein and Ryan Hall with CBRE assisted Northland with acquisition financing. Delivered in 2024, Altis Santa Barbara offers one-, two- and three-bedroom units, as well as private patios or balconies for all units and direct-access garages for select units.
MENIFEE, CALIF. — Patrinely, in partnership with affiliates of Dune Real Estate Partners, has completed the sale of a newly constructed warehouse building at Gateway at Menifee, a logistics campus at the intersection of I-215 and Scott Road in Menifee. Located at 33580 Zeiders Road, the property offers 93,575 square feet of Class A industrial space. The remaining two available buildings total 450,540 square feet (229,934 square feet and 220,606 square feet) and feature 36-foot clear heights, 81 total dock-high doors and 185-foot truck court depths each. Patrinely developed the project. Eloy Covarrubias, Joe Werdein, Rob Gunness and Garry Jenkins of CBRE are handling leasing and sales under the direction of Phillip Moore and Dennis Tarro of Patrinely.
AMES, IOWA — Coastal Ridge has acquired two student housing properties serving Iowa State University in Ames. The acquisitions were part of a portfolio that also included a property in Louisiana totaling just under 1,600 beds with a gross asset value of approximately $90 million. The acquisitions mark the firm’s initial deployment of capital from the Coastal Ridge Value-Add Student Housing Fund LP, the company’s inaugural institutional commingled fund. The per-bed cost across the three assets was approximately $56,000. New construction can exceed $100,000 per bed, according to Coastal Ridge.
