FIRESTONE, COLO. — SRS Real Estate Partners has negotiated the sale of a retail building located at 10935 Colorado Blvd. in Firestone. An East Coast-based developer sold the asset to a local private investor for $5.4 million. The Learning Experience occupies the 10,000-square-foot building, which was built in 2023, under a new 15-year lease. Ryan Tomkins of SRS Capital Markets represented the seller in the deal.
WESTMINSTER, COLO. — Marcus & Millichap has arranged the sale of La Quinta Inn by Wyndham Denver Northglenn, a three-story hotel at 345 W. 120th Ave. in Westminster. A private seller sold the asset to a local buyer for an undisclosed price. Built in 1986 and renovated in 2023, La Quinta Inn offers 131 guest rooms and is centrally located between Boulder, Colo., and downtown Denver. Skyler Cooper and Christy McDougall of Marcus & Millichap represented the seller and procured the buyer in the deal. Adam Lewis served as Marcus & Millichap’s broker of record in Colorado.
NEW YORK CITY — Investment firm Gencom has acquired the 587-room Thompson Central Park Hotel in New York City. Ramsfield Hospitality Finance, funds managed by AB CarVal and Affinius Capital LLC provided a $230 million loan for the acquisition. Eastdil Secured represented the undisclosed seller in the transaction and also represented Gencom in arranging the acquisition financing. Situated on Manhattan’s Billionaires’ Row just south of Central Park, the luxury hotel rises 42 stories on 56th Street. Formerly the Parker Hotel, the property underwent a $100 million renovation and rebranding beginning in 2021. The hotel features 4,500 square feet of meeting space and various food-and-beverage concepts. A 6,500-square-foot Exhale Spa and fitness center is slated to open later this year. The hotel’s “Upper Stories” experience includes a private arrival and departure process and an exclusive guest lounge. A collection of guestrooms and suites are perched on the property’s topmost floors. Restaurants at the Thompson include Burger Joint, a popular burger eatery that is open for lunch and dinner; Parker’s, a restaurant on the hotel’s main level that features live music and crafted cocktails named after famous jazz songs; and Indian Accent, an upscale dining experience by Chef Manish Mehrotra that offers …
MABANK, TEXAS — Marcus & Millichap has brokered the sale of Pego Self Storage, a 568-unit facility in Mabank, about 55 miles southeast of Dallas. The complex consists of 12 buildings that span 72,262 net rentable square feet of space, including drive-up and climate-controlled units. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local owner-operator, in the transaction and procured the Austin-based buyer. Both parties requested anonymity.
DELRAY BEACH, FLA. — A joint venture between Certares and TMGOC Ventures has purchased The Ray Hotel, an upscale, 141-room hotel in Delray Beach, a coastal city in South Florida’s Palm Beach County. The seller and sales price were not disclosed. Alexandra Lalos Church, Zak Brodstein and Lauren Habig of Hodges Ward Elliott represented the seller in the transaction. Delivered in September 2021, The Ray is part of Hilton’s Curio Collection of high-end hotels. The property offers amenities including a rooftop restaurant and bar, rooftop pool deck, 1,800-square-foot fitness center and a modern event space. The Ray’s three full-service eateries include restaurants from Michelin-star chef Akira Back and Campi Italian, a concept from New York-based Host Restaurants.
JACKSONVILLE, ALA. — Marcus & Millichap has brokered the sale of Jacksonville Crossing, a 56,401-square-foot shopping center located at 1555 Pelham Road S in Jacksonville, a city in northeast Alabama. The sales price was not disclosed. Philip Levy and Zach Taylor of Marcus & Millichap represented the seller and secured the buyer, both of which are private investors that requested anonymity. Eddie Greenhalgh served as Marcus & Millichap’s broker of record in Alabama for the transaction. Situated about 36 miles from Talladega Superspeedway, Jacksonville Crossing was 67 percent leased at the time of sale to tenants including Dollar Tree, Baja California Grill, Cricket Wireless and Five Below, which recently signed a new 10-year lease at the center.
WESTPORT, CONN. — Marcus & Millichap has brokered the sale of a 28-unit apartment complex located about 50 miles northeast of New York City in Westport. The Westporter was built in 2019 and includes both flat- and townhouse-style units, as well as four ground-floor retail spaces. Eric Pentore, Victor Nolletti, Wes Klockner and Ross Friedel of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a fully occupied, multi-tenant retail property in the heart of Chicago’s Streeterville neighborhood for an undisclosed price. The standalone building at 227 E. Ontario St. is leased to Sweetgreen, Nando’s, CorePower Yoga, Big City Optical and Movement Physical Therapy. Joe Girardi and Emily Gadomski of Mid-America represented the undisclosed seller. The Shiner Group was the buyer.
SEATTLE — Alexandria Real Estate Equities, through an affiliate, has completed the sale of 1165 Eastlake Avenue East in Seattle’s Lake Union submarket to long-standing tenant Fred Hutch Cancer Center for $150 million. Alexandria developed and delivered the 100,086-square-foot, single-tenant, Class A life sciences building in 2021. Proceeds from the disposition of 1165 Eastlake will be reinvested into Alexandria’s leased development and redevelopment pipeline, which consists of research-and-development centers for top life sciences companies, including Bristol Myers Squibb and Novo Nordisk. As part of the transaction, Alexandria, through an affiliate, entered into a strategic joint venture partnership with Fred Hutch for nearby 1201 and 1208 Eastlake Avenue East, aggregating 206,031 rentable square feet, through a transfer of partial interests from the prior joint venture partner to Fred Hutch. Alexandria’s ownership interest in each 1201 and 1208 Eastlake remains unchanged at 30 percent. Fred Hutch executed early renewals at both properties, including a 15-year lease extension at 1201 Eastlake, where it occupies the entire building. These two life sciences facilities support the cancer center in its efforts to translate cancer and infectious disease discoveries into treatments and cures.
PHOENIX — ViaWest Group has completed the disposition of Canyon Corporate Plaza, a Class A office campus located on 11.6 acres in Phoenix, for an undisclosed price. The buyer is CaliberCos Inc., a Scottsdale, Ariz.-based financial services company in the alternative asset management space. Steve Lindley and Alexandra Loye of Cushman & Wakefield’s Capital Markets team represented the seller in the deal. Canyon Corporate Center offers 311,706 square feet of office space within a transit-oriented location in Phoenix’s I-17 Corridor and close to two stops on the newly opened light rail extension. At the time of sale, the property was nearly vacant.
