WESTMINSTER, COLO. — CW Real Estate Partners has arranged the sale of a retail property located at 10128 Wadsworth Parkway in Westminster, a northern suburb of Denver. Equitas Development LLC & CAP Cincy LLC acquired the asset from 10108 Wadsworth Parkway LLC for $3.3 million. 7-Eleven occupies the property on a net-lease basis. Chris Wiedenmayer of CW Real Estate Partners represented the seller in the transaction.
STRATFORD, CONN. — Regional brokerage firm Atlantic Capital Partners has negotiated the $24.6 million sale of North Town Center, a 115,000-square-foot shopping center located in the southern coastal Connecticut city of Stratford. Big Y Supermarket has anchored North Town Center, which was 93 percent leased at the time of sale, since 2008. Other tenants include X-Golf, Town Line Liquors and Town Fair Tire. Justin Smith, Chris Peterson, Sam Koonce and Matt Ericson of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction. Stephen Joseph of Atlantic Capital arranged long-term financing for the buyer.
LEESBURG, FLA. — A joint venture between The Sembler Co. and Forge Capital Partners, doing business as Forge Real Estate Partners V LP, has acquired Palm Plaza, a 133,419-square-foot shopping center located at 715 N. 14th St. in Leesburg, a city in Central Florida. Crosspoint sold the property for $17.8 million. Publix anchors Palm Plaza, which was 92 percent occupied at the time of sale. Other tenants at the center include Planet Fitness, Popeyes, Quest Diagnostics, Rent-A-Center, Firehouse Subs, Core Health, OneMain Financial, T-Mobile and The UPS Store. Brad Peterson, Whitaker Leonhardt and Tommy Isola of Colliers represented the seller in the transaction.
LAKEWOOD, COLO. — Brixton Capital has acquired The Windsor, a townhome and apartment property in Lakewood, from Boston-based TA Realty for $124.2 million. The buyer plans to rebrand the community as Brixton Townhomes at Bear Creek and complete a comprehensive renovation to unit interiors and enhance common area amenities. Located at 8152 W. Eastman Place on 29 acres, The Windsor features 53 buildings totaling 392,000 square feet of leasable space. The property offers 352 units, averaging 1,115 square feet, with one- and two-car direct-access garages, in-unit washers/dryers and nine- to 10-foot ceilings. San Francisco-based Carmel Properties originally built the property, which offers a blend of single-family-style living at apartment rental rates. In collaboration with Greystar, Brixton’s third-party property management company, the firm will provide asset management for the property. Brixton Capital and TA Realty were both self-represented in the transaction.
SEATTLE — Palisade Group and Sabal Investment Holdings have purchased two office buildings at 1000 and 1100 Dexter Ave. in Seattle’s South Lake Union submarket for $47.5 million, or $213 per square foot. Totaling 223,333 square feet, the Class A property offers access to various transportation options, including direct connectivity to Westlake, Eastlake and bike paths for the Fremont commuters, along with proximity to an abundance of walkable amenities and neighborhoods. Kevin Shannon, Nick Kucha, Michael Moll, Rachel Jones and Liam Ogburn of Newmark represented the sellers, SBC and Stockbridge, in the deal.
LOS ANGELES — Greystar has completed the disposition of Cobalt Apartments, a multifamily community in the West Los Angeles-Culver City area of Los Angeles. The acquisition price was not released. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer, Hello Group, in the deal. Built in 2019, Cobalt Apartments offers 135 units with stackable washers/dryers, stainless steel appliances and vinyl-plank flooring. Select units have large private patios or balconies, walk-in closets and linen closets. Community amenities include a clubhouse, fitness center, heated pool and spa, two open-air lounges, gated covered parking and bike storage.
LOS ANGELES — Newmark has arranged the sale of Fox Village Theatre at 945 Broxton Ave. and 10959 Weyburn Ave. in Los Angeles’ Westwood Village. Terms of the transaction were not released. Built in 1929, Fox Village Theatre had its original grand opening in 1931. Designed by Percy Park Lewis, Fox Village Theatre spans a combined building area of 24,099 square feet, including a 17,155-square-foot operating theatre and 6,944 square feet of retail space that includes a 3,088-square-foot Starbucks Coffee. The property also features a 170-foot tower. At the time of sale, the asset was 84 percent occupied. Steven Salas, Bill Bauman and Kyle Miller of Newmark represented the undisclosed sellers in the deal.
CHICAGO — Marriott International will purchase the Sheraton Grand Chicago in the city’s Streeterville neighborhood in a $500 million transaction, according to Marriott’s fourth-quarter 2023 results. Marriott will purchase the hotel for $300 million and spend an additional $200 million for the land. According to Crain’s Chicago Business, Tishman Realty has exercised its option to require Marriott to purchase the hotel, which was granted to Tishman as part of a 2017 settlement. The 1,218-room property is located at 301 E. North Water St.
MIDLAND, MICH. — Marcus & Millichap has arranged the $9.8 million sale of the Great Lakes Bay Surgery & Endoscopy Center in central Michigan’s Midland. The multi-tenant medical office building totals 23,420 square feet. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the undisclosed buyer and seller. The deal closed in 30 days with an all-cash buyer.
HUDSON, OHIO — The Cooper Commercial Investment Group has brokered the $3 million sale of University Hospital’s Hudson Health Center in Hudson, a northern suburb of Akron. The medical office building totals 16,352 square feet and is situated on 2.3 acres. There are just under five years remaining on the lease, which features annual rental increases. Bob Havasi and Dan Cooper of Cooper Group represented the undisclosed seller. The asset sold to an all-cash buyer based in California. The sales price represented a cap rate of 7.77 percent.
