CHANDLER, ARIZ. — SRS Real Estate Partners has arranged the $3.3 million sale of a childcare property, located at 3700 W. Ray Road in Chandler. Busy Bees occupies the 10,904-square-foot property, with 15 years remaining on its absolute triple-net lease. Alexander Moore of SRS Capital Markets represented the buyer, a California-based private investor. The seller was a Phoenix-based investment group.
CHATTANOOGA, TENN. — Flagship Healthcare Properties has acquired East Ridge Physicians Building, a 27,657-square-foot medical outpatient building located at 929 Spring Creek Road in Chattanooga. Situated adjacent to the 128-bed HCA Parkridge East Hospital, the Class A facility was fully leased at the time of sale. The buyer acquired the property through its private REIT, Flagship Healthcare Trust. The seller and sales price were not disclosed. Built in 1985, East Ridge Physicians Building’s interior and exterior were renovated last year by the previous owner. Flagship will provide property management and asset management services for the facility.
WESTLAND, MICH. — Marcus & Millichap has arranged the sale of Five Star Store It, a 1,103-unit self-storage property in the Detroit suburb of Westland. The sales price was undisclosed. The facility sits on 22 acres at 5235 S. Merriman Road and features 30 climate-controlled units, 774 non-climate-controlled units and 229 parking spaces totaling 115,707 net rentable square feet. A retail component on the property will be converted into climate-controlled storage. Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap represented the private regional seller and procured the buyer, MyPlace Storage.
SHEBOYGAN, WIS. — NAI Pfefferle has brokered the sale of two office buildings in Sheboygan totaling 64,736 square feet. The sales price was undisclosed, but the asking price was $3.7 million. The properties are located at 4135 and 4136 Sud Parkway. Dane Checolinski and Tom Fisk of NAI Pfefferle brokered the sale.
GARLAND, TEXAS — Marcus & Millichap has brokered the sale of Storage Fit, a 140-unit self-storage facility in Garland, a northeastern suburb of Dallas. The facility is located at 3701 Dividend Drive and features 47,539 net rentable square feet. A West Coast-based 1031 exchange investor sold the property to a private, locally based investment group for an undisclosed price. Danny Cunningham and Brandon Karr of Marcus & Millichap brokered the deal.
PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of The Gardens Apartments, a 52-unit multifamily complex in Paris, about 115 miles northeast of Dallas. The property was built in 1970 and expanded in 2017, and unit interiors were recently upgraded. According to Apartments.com, residences come in one-, two- and three-bedroom units. Yonnic Land of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NORTH BRUNSWICK, N.J. — Regional investment firm Taconic Partners has acquired a 360,000-square-foot industrial property in North Brunswick, located roughly midway between Trenton and Newark, for $74.3 million. The site at 1735 Jersey Ave. spans 17 acres, and the building offers a clear height of 24 feet and 24 loading positions. Tenants at the property, which was fully leased at the time of the loan closing, include pallet manufacturer and distributor Kamps Inc. and furniture rental company Luxe Living Design. Jordan Avanzato, Marc Duval, Nicholas Stefans and Jason Lundy of JLL brokered the deal. The seller was not disclosed. Evan Pariser and Aaron Niedermayer, also with JLL, arranged $46.6 million acquisition financing through J.P. Morgan for the deal on behalf of Taconic Partners.
SAGINAW, TEXAS — Marcus & Millichap has brokered the sale of Ashton, a 152-unit apartment complex in Saginaw, a northern suburb of Fort Worth. Ashton is a 15-building community that was constructed on approximately eight acres in 1984 and recently received capital improvements to unit interiors and common areas. Residences come in one- and two-bedroom floor plans and include private balconies/patios. The amenity package consists of a pool, clubhouse, dog park and outdoor grilling and dining stations. Ford Braly, Al Silva and Dylan York of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
PASADENA, TEXAS — EDGE Capital Markets has arranged the sale of The Market at Crenshaw, a 37,103-square-foot retail strip center in Pasadena, an eastern suburb of Houston. Shadow-anchored by Academy Sports + Outdoors and Burlington, the center was 77 percent leased at the time of sale to a mix of national and local tenants. Kevin Holland and Britton Holland of EDGE represented the undisclosed seller in the transaction. The buyer was a national investor that also requested anonymity.
EXTON, PA. — JLL has arranged the $34.3 million sale of Exton Square, a 990,000-square-foot super-regional shopping center located on the western outskirts of Philadelphia. The center was originally built on 75 acres in 1973 and renovated in 2000. Whole Foods Market shadow-anchors the property, which is home to tenants such as Boscov’s, Macy’s, Main Line Health and Round1 Entertainment. Jim Galbally, David Monahan, Patrick Higgins and Fran Coyne of JLL represented the seller, PREIT, in the transaction. The buyer was Abrams Realty & Development.
