CHAMBERSBURG, PA. — Marcus & Millichap has brokered the $6.5 million sale of a retail property in Chambersburg, about 150 miles west of Philadelphia. The property houses a 5,330-square-foot building that is under construction and net leased to convenience store operator Wawa for the next 20 years. Derrick Dougherty and Scott Woodard of Marcus & Millichap represented the seller, Paramount Realty, in the transaction. Dougherty and Jacob Haslach, also with Marcus & Millichap, procured the buyer, Maryland-based investment firm W.F. Chesley Real Estate.
LOS ANGELES — Senior Resources Group (SRG) has purchased Fountainview at Gonda, a seniors housing community in the Playa Vista submarket of Los Angeles, from Los Angeles Jewish Health (LAJHealth) for an undisclosed price. In conjunction with the acquisition, SRG has renamed the property Avocet Playa Vista. A continuing-care retirement community (CCRC), the 199-residence Avocet Playa Vista offers 175 independent living, 12 assisted living and 12 memory care units. Built in 2017 and designed by Gensler, Avocet Playa Vista residences are part of the Playa Vista homeowners association, enabling access to a full-service community with a full-service restaurant, bar/bistro, performing arts theatre, arts center, indoor pool and fitness center, mind and body programs, cultural events and onsite rehabilitative health care. SRG is committed to maintaining the Jewish values foundational to the community and its residents.
DENVER — New York-based KPR Centers has acquired University Hills, a grocery-anchored retail center in Denver, for $56.5 million. The name of the seller was not released. Located at 2750 S. Colorado Blvd., the 210,000-square-foot University Hills was fully leased at the time of sale to tenants including King Soopers, Michaels, Marshalls, Office Depot, PetSmart, Five Below, Ulta Beauty and Starbucks Coffee. Tom Lagos of Institutional Property Advisors, a division of Marcus & Millichap, represented KPR in the off-market transaction. KPR Centers is now present in 18 states, with approximately 10 million square feet of owned and self-managed properties.
SAN DIEGO — Miramar Acquisitions has acquired 7191 Carroll Road, a 3.6-acre industrial outdoor storage (IOS) facility in San Diego’s Miramar submarket, from TFI International for $14.6 million. Evan McDonald, Kurtis Blanchard and Mark Lewkowitz of Colliers represented the buyer and seller in the deal. The low-coverage site features a 6,300-square-foot cross-dock facility with excess paved and secured yard space. The property’s zoning allows for an array of outdoor industrial uses, including equipment and material storage, vehicle equipment and supplies sales and rentals, and trucking and transportation facilities.
SOUTHFIELD, MICH. — NAI Farbman, the brokerage arm of Farbman Group, has brokered the sale of a 114,397-square-foot office building in Southfield. The H.N. and Frances C. Berger Foundation, a California-based nonprofit that supports established organizations promoting healthcare, social services and education, purchased the property in 2012 as an investment. Given the current state of the office industry, the foundation opted to gift the building to another nonprofit, Volunteers of America, a Virginia-based organization founded in 1896 that provides affordable housing and other assistance to low-income residents. David Haboian of REDICO and Edward Wujek of CBRE represented H.N. and Frances C. Berger Foundation, while Ron Goldstone of NAI Farbman represented Volunteers of America. Following the gifting of the asset, Volunteers of America executed an analysis on the building to determine if it could be converted into a multi-story thrift store, a common practice for the group, which operates dozens of thrift stores nationwide. But the conversion proved too difficult to execute. The property then traded to the Tamaroff Jeffrey Automotive Group, a local automotive dealer of new and used cars. As a result, Volunteers of America raised money for its charity by trading the asset. The property is situated adjacent …
GARLAND, TEXAS — Metro Dallas-based investment firm ClearWorth Capital has sold Firewheel Town Village, a 154-unit active adult community in Garland, about 20 miles northeast of Dallas. Built in 2018, the property offers studio, one- and two-bedroom units and amenities such as a pool, clubhouse, TV lounge, salon, billiards room, fitness center and a computer/conference center. David Austin, Rob Key, Greg Toro and Cole Murphy of JLL represented ClearWorth in the deal and procured the buyer, Equity Partnership Holdings. The property was 98 percent occupied at the time of sale.
AUSTIN, TEXAS — Los Angeles-based investment firm Westwood Financial has purchased Trails at 620, a 69,037-square-foot shopping center in northwest Austin. The center was roughly 77 percent leased at the time of sale to tenants such as AT&T, Freebirds World Burrito, Black Rock Coffee, Restore Hyper Wellness, Kale Me Crazy, Mattress Firm and European Wax Center. Shea Petrick, Chris Gerard, and John Indelli of JLL represented the seller, Partners Capital, in the transaction.
ORLANDO, FLA. — Beachwold Residential LLC has purchased Avisa Lakes, a 292-unit, garden-style multifamily community located at 7960 Pine Crossing Circle in Orlando. Kyle Butler, Ted Taylor and Noli Muratovic of JLL represented the sellers, Lloyd Jones LLC and ST Real Estate Holding Inc., and procured the buyer in the $50 million sale. Additionally, JLL worked on behalf of Beachwold to secure a five-year Freddie Mac acquisition loan totaling $35 million. Avisa Lakes features one- and two-bedroom apartments averaging 850 square feet in size. The property was 96 percent occupied at the time of sale. Community amenities include a playground, swimming pool, entertainment clubhouse and game room, two dog parks, a soccer court, fitness center and a business center.
BOYNTON BEACH, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $31 million sale of Village Square at Golf, a 135,133-square-foot shopping center located in Boynton Beach. KC Market anchors the property, which was built in 1983 and renovated in 2012. Other tenants at the center, which was 93 percent occupied at the time of sale, include Enterprise Rent-A-Car, Quest Diagnostics, The UPS Store, Boynton Quality Medical Center and Anthony’s Ladies’ Apparel. Kirk Olson and Drew Kristol of IPA represented the seller, a publicly traded REIT, in the transaction. The buyer was not disclosed.
TAMPA, FLA. — Plaza Advisors has arranged the $12.6 million sale of Fowler Plaza South, a 57,093-square-foot shopping center in Tampa. The property was 97 percent leased at the time of sale to tenants including Dollar General, Champs Sports, AT&T, Jimmy John’s, Foot Locker and Amscot. Fowler Plaza South is located less than a half-mile west of the University of South Florida and across the street from Rithm, the ongoing mixed-use redevelopment project of the former University Mall. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller, SJS Realty Management, in the transaction. The buyer was not disclosed.