MANCHESTER, PA. — Marcus & Millichap has brokered the $3.8 million sale of a 6,129-square-foot gas station in Manchester, a southern suburb of Harrisburg, that is occupied by fuel station and convenience store operator Sheetz. The newly built facility sits on a 3.3-acre site next to East Manchester Village Centre shopping center. Derrick Dougherty and Nick Geaneotes of Marcus & Millichap represented the seller and procured the buyer, both of which were Pennsylvania-based entities that requested anonymity, in the transaction.
ENGLEWOOD, COLO. — Bell Partners has completed the disposition of Bell Cherry Hills, an apartment community in Englewood. Terms of the transaction were not released. Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal. Located at 3650 S. Broadway St., the four-story, two-building property offers 306 studio, one-, two- and three-bedroom apartments. Each unit features granite countertops, Energy Star-rated appliances, energy-saving programmable thermostats and a private balcony or patio. Community amenities include a fitness center, resort-style pool and spa, outdoor kitchen, sky deck, resident lounge, game room, business center, dog park and grooming station, ski and bike repair shop, electric vehicle charging stations and two controlled-access parking garages.
BOLINGBROOK, ILL. — JRK Property Holdings has acquired Brook on Janes Apartments, a 288-unit multifamily community in the Chicago suburb of Bolingbrook. The purchase price was undisclosed. JRK utilized its JRK Platform 5 Fund, a $1 billion multifamily value-add and core plus fund that targets higher-quality, well-located multifamily investments built after 1990. The fund’s portfolio is comprised of institutional-quality assets with an average year built of 2019 located in Illinois, Florida, Kansas and California. Built by the undisclosed seller in 2017, Brook on Janes rises three stories at 401 Janes Ave. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a pool, clubhouse, fitness club, cookout area and gated dog park. Kevin Girard, Roberto Casas and Matt Lawton of JLL represented the seller. Annie Rice and Brandon Smith of JLL arranged agency acquisition financing with a 10-year, fixed-rate loan.
FORT COLLINS, COLO. — Cushman & Wakefield has arranged the sale of a single-tenant retail asset located at 425 S. College Ave. in Fort Collins, about 60 miles north of Denver. McWhinney sold the asset to an undisclosed investor for $7.3 million. Lucky’s Market occupies the 26,602-square-foot property on a long-term lease. The asset was built on 1.7 acres in 1966 and most recently renovated in 2018. During its ownership, McWhinney completed at $3 million renovation, adding bike parking and landscaping elements. Jon Hendrickson, Aaron Johnson, Aki Palmer and Cole VanMeveren of Cushman & Wakefield, along with Peter Pavlakis of Legend Retail Group, represented the seller in the deal.
WEST BEND, WIS. — Evans Senior Investments (ESI) has brokered the sale of Samaritan Health Center, a county-owned facility in West Bend, about 30 miles north of Milwaukee. The community was originally built in 1969 and renovated in 2009. The property offers three licensed programs: a skilled nursing facility, an assisted community-based residential facility (CBRF) and a supportive living, apartment-style residential care apartment complex (RCAC). Altogether, the center provides 186 beds, including 131 skilled nursing beds, 24 RCAC beds and 31 CBRF beds. According to ESI, Samaritan Health Center was 33 percent occupied at the time of marketing and struggling with negative cash flows. The property also needed substantial renovations. An independent owner-operator purchased the asset for an undisclosed price.
OLYMPIA, WASH. — Marcus & Millichap has brokered the sale of Arts Industrial Park, an industrial property in Olympia, about midway between the Seattle/Tacoma area and the Pacific Coast. A partnership sold the asset to a value-add syndicator buyer for $4.8 million. Located at 6221 Rich Road SE, Arts Industrial Park features 63,500 square feet of industrial space. The buyer plans to spend $1 million on renovations and improvements to the property. Matthew Herman and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the transaction.
HAGERSTOWN, MD. — Continental Realty Corp. (CRC) has sold Centre at Hagerstown, a shopping center in northern Maryland, for $36.3 million. The buyer was not disclosed. JLL brokered the transaction. Baltimore-based CRC purchased the 292,000-square-foot shopping center in 2019 for $23.5 million and has since sold nine of the center’s 10 freestanding pad sites for a total of $16.1 million. Located at the intersection of I-81 and National Pike at 17850 Garland Groh Blvd., Centre at Hagerstown was roughly 97 percent leased at the time of sale to tenants including Burlington, Crunch Fitness, HomeGoods, Marshalls, PetSmart, Regency Furniture, 2nd & Charles and Party City.
HARRISON, ARK. — Hanley Investment Group Real Estate Advisors has arranged the sale of a 145,588-square-foot shopping center located at 605-627 U.S. Highway 62 in Harrison, about 72 miles east of Fayetteville in north Arkansas. Built on 13.8 acres in 1978, the property was 95 percent leased at the time of sale to tenants including Tractor Supply, Planet Fitness, Big Lots, Dunham’s Sports, Golden Tickets Cinemas, Factory Connection and Popeyes. Five of the six tenants have signed new leases or extensions recently. The undisclosed buyer, which is based in Fayetteville, purchased the retail center from a consortium of multiple partners for an undisclosed price. Jeff Lefko, Kevin Fryman and Bill Asher of Hanley Investment, in association with ParaSell Inc., represented the seller in the transaction.
GREENVILLE, S.C. — Berkadia has arranged the sale of The Aspens Verdae, a newly built, 159-unit active adult community in Greenville. Texas-based active adult developer Aspens Senior Living sold the community to Charleston-based Blaze Capital Partners and Partners Group, acting on behalf of its clients. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders led the Berkadia team in the transaction. The sales price was not disclosed. Located in Greenville’s master-planned, 1,100-acre Verdae neighborhood, the Aspens Verdae provides direct access to retail, restaurants, healthcare and outdoor activities. The property was built in 2022 and features one- and two-bedroom apartments.
FATE, TEXAS — Tampa-based investment firm American Landmark has purchased Prose Eastgate, a 366-unit apartment community in Fate, a northeastern suburb of Dallas. Built in 2023, the property offers one- and two-bedroom units that are furnished with stainless steel appliances, granite countertops and walk-in closets. Amenities include a pool, outdoor grilling and dining stations, resident lounge, entertainment kitchen, a fitness center, business center, dog park and package lockers. The seller and sales price were not disclosed, but Prose is the workforce housing brand of Alliance Residential. American Landmark has since rebranded the property as Jameson Apartments.