CHICAGO — Quantum Real Estate Advisors Inc. has brokered the $3.8 million sale of an 11-unit multifamily building in Chicago’s West Town neighborhood. The property at 835 N. Wolcott Ave. was renovated in 2020. Quantum represented the out-of-state buyer, which completed a 1031 exchange. The seller was undisclosed.
BURBANK, ILL. — Time Equities Inc. (TEI) has purchased Burbank Plaza, a 28,000-square-foot retail strip center in Burbank, a southern suburb of Chicago. The purchase price was $3.1 million. Currently 91 percent leased and anchored by Family Dollar, the property is home to various tenants such as a dry cleaner, nail salon and phone store. One 2,500-square-foot space is available for lease. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI on an internal basis. Adam Foret of CBRE represented the private seller.
NEW YORK CITY — Ariel Property Advisors has negotiated the $19.1 million sale of a 160,000-square-foot mixed-use building located at 950 Westchester Ave. in the Longwood area of The Bronx. The 12-story building consists of 111 market-rate and affordable housing units and a community facility with seven office units and two retail spaces. Victor Sozio, Jason Gold, Howard Raber, Shimon Shkury and Daniel Mahfar of Ariel Property Advisors represented the undisclosed seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $11.7 million sale of a 26,260-square-foot shopping center in the Canarsie neighborhood of Brooklyn. The two-story center consists of five ground-floor spaces and a 12,000-square-foot second-level space that is occupied by A+ Kidz Academy. Scott Plasky and Alexander Arustamian of Marcus & Millichap represented the seller and procured the buyer, a private investor. Both parties requested anonymity.
MCKINNEY, TEXAS — The CONAM Group, a California-based investment firm, has acquired Arise Craig Ranch, a 270-unit apartment community located within the Craig Ranch master-planned development in the northern Dallas suburb of McKinney. Completed in 2018, Arise Craig Ranch offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops and tile backsplashes. Amenities include a pool, resident lounge, billiards room, courtyards, fitness center, movie theater, dog park and a business center. The seller and sales price were not disclosed.
CONROE, TEXAS — Colliers has brokered the sale of a 43,200-square-foot, single-tenant industrial building in Conroe, about 40 miles north of Houston. The site spans 9.9 acres and fronts I-45. Michelle Soderberg of Colliers represented the seller, an entity doing business as JMBG Ltd., in the transaction. Wade Nelson of Nelson Properties represented the buyer, Spring Glass & Mirror Ltd., which will use the building as its new headquarters. The sales price was not disclosed.
LUBBOCK, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 19,410-square-foot retail building in the West Texas city of Lubbock. The building, which was constructed in 2011 on the city’s southeast side, is fully leased to Tractor Supply Co. Jason Vitorino and Adam Gottschalk of STRIVE represented the seller, a Texas-based private investor, in the transaction. Additional terms of sale were not disclosed.
DOUGLASVILLE, GA. — Vista Residential Partners and Batson-Cook Development Co. have sold Sweetwater Vista Apartments, a 300-unit garden-style property located along Riverside Parkway in Douglasville, about 15 miles west of Atlanta. The buyer and sales price were not disclosed. Vista and Batson-Cook developed the property in 2021 using debt financing from Synovus Bank and joint venture equity. Situated near the 2,500-acre Sweetwater Creek State Park, Sweetwater Vista features a clubhouse, resort-style pool, dog park and open green spaces. The property features one-, two- and three-bedroom units ranging from 804 to 1,268 square feet, according to Apartments.com.
SANDY SPRINGS, GA. — Atlanta-based Bull Realty has brokered the $6.9 million sale of a 36,000-square-foot office building located at 5009 Roswell Road in Sandy Springs, a suburb of Atlanta. The seller was the property’s lender, an unnamed major bank. The buyer was also not disclosed. The property was 90 percent vacant at the time of sale. Michael Bull of Bull Realty represented the seller in the transaction.
EDISON, N.J. — Locally based brokerage firm Zimmel Associates has arranged the $49.7 million sale of a 122,000-square-foot office complex located at 1090 King Georges Post Road in the Northern New Jersey community of Edison. The campus is known as The Business Center at Edison and consists of 12 one-story, standalone buildings. David Zimmel of Zimmel Associates represented the seller, New Jersey-based Denholtz Properties, in the transaction. The buyer, Federal Business Centers, plans to redevelop the property for industrial usage.
