MADISON, WIS. — Breneman Capital has acquired Fairhaven Court Apartments in Madison for an undisclosed price. The 58-unit apartment complex is located on Fairhaven Road. The property was built in two phases and includes a townhome building from 2007 and an apartment building from 2014. Units range from 579 to 1,528 square feet. Bruner Realty will manage the property. Breneman plans to make light renovations to select units.
CHICAGO — Marcus & Millichap has arranged the sale of a 25-unit multifamily property in Chicago for nearly $3 million. Built in 1928, the property is located at 2253 W. 111th St. in the city’s Morgan Park neighborhood. There are 25 two-bedroom floor plans across 31,185 rentable square feet. Jack Stanton and Kyle Stengle of Marcus & Millichap’s Stengle Stanton Group represented the seller, a longtime local investor. Buyer information was not provided.
ELK GROVE VILLAGE, ILL. — Brown Commercial Group has negotiated the sale of a 20,000-square-foot industrial building in the Chicago suburb of Elk Grove Village for $1.9 million. The property is located at 989 Pauly Drive. Mason Hezner of Brown represented the buyer, AES USA Corp., a distributor of flexible conduit systems for heavy industrial automotive markets. The buyer is moving from a 10,000-square-foot space in Elk Grove Village. CBRE represented the seller, Rumco Acquisition Corp.
GEORGETOWN, TEXAS — Marcus & Millichap has brokered the sale of Georgetown Mini Storage, a 144-unit self-storage facility located on the northern outskirts of Austin. The facility was built in 1983 and spans 26,400 net rentable square feet of non-climate-controlled space. Jon Danklefs and Douglas Diffie of Marcus & Millichap represented the undisclosed seller in the transaction. Danklefs also procured the buyer, New York-based Merit Hill Capital.
BRIDGEPORT, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $9.9 million sale of Bridgeport Commons Apartments, an 86-unit multifamily property in southern coastal Connecticut. The two-building property was originally built between 1967 and 1970 and is located directly across the street from Bridgeport Hospital. The unit mix comprises nine studios, 73 one-bedroom apartments and four two-bedroom residences. Brad Balletto, Rich Edwards and Robert Paterno of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
FREEHOLD, N.J. — Marcus & Millichap has brokered the $4.7 million sale of a retail property in Freehold, an eastern suburb of Trenton, that is leased to 7-Eleven on a triple-net basis. The property consists of a 3,100-square-foot convenience store and a 12-pump fuel station. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller in the transaction. Mark Krantz and Derrick Dougherty, also with Marcus & Millichap, represented the buyer. Both parties were locally based investors that requested anonymity.
FISHERS, IND. — Noble Investment Group has acquired the Courtyard by Marriott Indianapolis | Fishers and the dual-branded Hyatt House & Hyatt Place Indianapolis | Fishers. The two newly built hotels are located within the Fishers District, a 150-acre mixed-use development in the Indianapolis suburb of Fishers. The seller and sales price were undisclosed. Noble is a real estate investment manager specializing in the travel and hospitality sector.
CHICAGO — Chicago-based Harrison Street has sold three senior living properties to Inland Real Estate Group for an undisclosed price. The assets include Clarendale of St. Peters in St. Peters, Mo.; Clarendale of Chandler in Chandler, Ariz.; and Clarendale at Indian Lake in Hendersonville, Tenn. Harrison Street developed the properties in a joint venture with Ryan Cos. and Life Care Services. The communities comprise 635 senior living units, and the portfolio was 92 percent leased at the time of sale.
CITY OF INDUSTRY, CALIF. — Ardmore Home Design, a luxury wholesale furniture manufacturer and the building’s tenant, has acquired an industrial property in City of Industry for $59.9 million. Situated on 13 acres at 918 S. Stimson Ave., the 282,377-squared-foot distribution facility features 24- to 30-foot clear heights, 34 dock-high doors, two grade-level doors, 28 trailer stalls and 150 auto stalls. Patrick Nally, Makenna Peter, Mark Detmer and Even Moran of JLL represented the seller, while Rick Sherburne of HRS Commercial represented the buyer in the deal.
WAIKOLOA, HAWAII — A joint venture between Pacific Retail Capital Partners, Starwood Property Trust and Taconic Capital Advisors has purchased Kings’ Shops, a retail property in Waikoloa. Terms of the transaction were not released. Tenants at the nearly 70,000-square-foot Kings’ Shops include Tiffany & Co., Tommy Bahama, Tori Richard, Travis Matthews, Lululemon, Kahala, Roy’s Waikoloa Bar & Grill by Chef Roy Yamaguchi, Foster’s Kitchen and A-Bay’s Island Grill. The property also offers venues for live entertainment, including music and fire dancing, weekly farmers markets and monthly night market events.
