TOMBALL, TEXAS — Colliers has brokered the sale of a 16,141-square-foot industrial flex building in the northeastern Houston suburb of Tomball. The building at 2121 Persimmon St., which is located on 2.5 acres within Tomball Business & Technology Park, was completed in 2023, according to LoopNet Inc. Tom Condon Jr. of Colliers represented the seller, KTB Properties LLC, in the transaction. Al Gosen of Texas United Realty represented the buyer, an entity doing business as W E Mauney LLC.
ARLINGTON, VA. — Shoreham Capital has purchased Infinity Apartment Homes, a multifamily community in Arlington, for $51 million. Located within the Columbia Pike Corridor near Amazon’s HQ2 project, the property features 227 units in a mix of studio, one-, two- and three-bedroom layouts. Amenities at Infinity Apartment Homes include a swimming pool, fitness center, resident lounge, bike storage, package lockers and a business center. Robert Dean and Jonathan Greenberg of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the transaction. Cameron Chalfant and Tyler Johnson of IPA arranged a $35 million acquisition loan on behalf of Shoreham. The property recently underwent significant upgrades to unit interiors, security systems, fixtures and finishes.
SUWANEE, GA. — Dermody Properties has acquired 3851 Lakefield Drive and an adjacent 10-acre parcel in Suwanee, approximately 30 miles northeast of Atlanta. Florida Food Products LLC sold the property, which features an existing 61,000-square-foot logistics facility, for an undisclosed price. Matt Wirth and Jim Freeman of JLL Capital Markets represented the seller in the transaction, and Dermody Properties was self-represented. Florida Food Products previously occupied the property and is consolidating operations at another regional facility. The building features upgraded office space, a 10-inch floor slab and a 105-mil roof. Additionally, Dermody Properties will develop a new, 93,320-square-foot logistics facility on the unoccupied land parcel. Construction is scheduled to begin early next year, and the building will be available for occupancy in the fourth quarter of 2025.
SANDY SPRINGS, GA. — Global Real Estate Advisors (GREA) has brokered the $36.7 million sale of Aqua Sandy Springs, an apartment community located at 100 Greyfield Lane in Sandy Springs, roughly 15 miles outside Atlanta. An entity doing business as Sandy Springs Residences II LLC acquired the property from an entity doing business as 29SC RN Property Owner LLC. Chandler Brown, Cory Sams and Taylor Brown of GREA represented the seller in the transaction. Built in 1985 and 2000, Aqua Sandy Springs features 219 units in one-, two- and three-bedroom floorplans. The new owner plans to implement a value-add program at the property, which is situated near Atlanta’s Central Perimeter district, downtown Roswell and Alpharetta.
ORLANDO, FLA. — Marcus & Millichap has arranged the $10.8 million sale of Turkey Lake Plaza, a retail center located at 7858 Turkey Lake Road in Orlando. Built in 2010, the property totals 19,719 square feet. Turkey Lake Plaza was leased to 12 tenants at the time of sale, including Gyu-Kaku Japanese BBQ. Tarek Chbeir of Marcus & Millichap procured the buyer, a local investor, in the transaction. The seller was also not disclosed.
VOORHEES, N.J. — New York City-based investment firm Montana Property Group has purchased Echelon Village Plaza, an 84,933-square-foot shopping center located in the Southern New Jersey community of Voorhees. The center was 92 percent leased at the time of sale to tenants such as Edge Fitness, Dollar Tree and Buffalo Wild Wings. Ohio-based REIT Site Centers sold the property for $8.5 million. Boston-based Atlantic Retail brokered the deal.
ST. LOUIS — Northmarq has negotiated the sale of Westpark Apartment & Townhomes, a 212-unit garden-style multifamily property in St. Louis. Located at 11409 Tivoli Lane, the community was largely built between 1996 and 2006 with a portion developed in 1969. Units range from 800 to more than 2,000 square feet. Amenities include a pool, fitness center, playground and basketball court. Dominic Martinez, Parker Stewart, Charlie McKee and Alex Malzone of Northmarq represented the seller, a locally based private investor, and the buyer, a national owner/operator of multifamily properties.
DECORAH, IOWA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.4 million loan for the acquisition of Briar Grove Apartments in Decorah, a city in northeast Iowa. The newly constructed, 92-unit apartment complex is located at 2342 Sweet Parkway Road. The luxury property features a mix of studio to two-bedroom layouts and is situated adjacent to the new Toppling Goliath Brewery & Taproom. Robert Bhat of MMCC arranged the five-year loan, which features an interest rate of 5.48 percent, three years of interest-only payments and a loan-to-value ratio of 65 percent. The lender and borrower were undisclosed.
CHICAGO — Interra Realty has brokered the sale of a 31-unit apartment building in Chicago’s Kenwood neighborhood for $4 million. Located at 4915 S. Drexel Blvd. and originally built in 1926, the property features 10 one-bedroom, 15 two-bedroom and six three-bedroom layouts. The building has undergone several improvements in recent years, including plumbing upgrades, a new reflective roof coating, tuckpointing and window replacements. Brad Feldman of Interra represented the seller, a local operator, and the buyer, a local private partnership that completed a 1031 exchange. The buyer plans to transition operations of the building from market-rate to affordable housing. The transaction marks the first time the property has traded hands in over 20 years.
CHICAGO — Quantum Real Estate Advisors Inc. has negotiated the $3.4 million sale of a timber loft building located at 1415 N. Dayton St. in Chicago’s Lincoln Park neighborhood. The 60,000-square-foot property was 80 percent vacant at the time of sale. The building sold to a local developer. The seller was undisclosed.