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Acquisitions

AcquisitionsDevelopmentFloridaMultifamilySoutheast

Avison Young Brokers $38M Sale of Multifamily Development Site in Miami

by John Nelson

MIAMI — Avison Young has brokered the $38 million sale of a 7.9-acre multifamily development site located at 1556 110th Ave. in Miami. The site is approved for a 690-unit, 10-story project, dubbed Dolphin Square. David Duckworth, Michael Fay, John Crotty, Brian de la Fé and Wayne Schuchts of Avison Young arranged the transaction on behalf of the seller, Boca Raton, Fla.-based Procacci Development Corp. Leo A Daly designed the current site plan for the project, which is located near Dolphin Mall.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

Connor Group Acquires 314-Unit Apartment Community in Metro Charlotte

by John Nelson

HUNTERSVILLE, N.C. — The Connor Group has acquired The Alcove at Birkdale Village, a 314-unit apartment community located in Huntersville, roughly 20 miles outside of Charlotte. The property features units in one-, two- and three-bedroom layouts. Monthly rents at the property begin at $1,299, according to the community website. This marks the third property in the Charlotte submarket for the Ohio-based buyer. The seller and sales price were not disclosed. 

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AcquisitionsGeorgiaOfficeSoutheast

TerraCap Sells 196,000 SF Office Park in Metro Atlanta

by John Nelson

MARIETTA, GA. — TerraCap Management, a Florida-based investment firm, has sold Cobb Corporate Center, a 196,000-square-foot office campus located in Marietta, roughly 20 miles outside of Atlanta. TerraCap acquired the property, which comprises five single-story buildings, in July 2020 and executed 70,000 square feet of leases during the firm’s ownership. The buyer and sales price were not disclosed.

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AcquisitionsMultifamilyTexas

Northmarq Brokers Sale of 109-Unit Coral Cay Apartments in Corpus Christi

by Taylor Williams

CORPUS CHRISTI, TEXAS — Northmarq has brokered the sale of Coral Cay Apartments, a 109-unit multifamily property in Corpus Christi. Built in 1970, the property features an average unit size of 955 square feet and was 97 percent occupied at the time of sale. Sparkle Asset Management sold the property to an affiliate of SPV Property Management for an undisclosed price. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented both parties in the transaction. Cheryl Higley, also with Northmarq, arranged acquisition financing for the deal.

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AcquisitionsOfficeTexas

Colliers Arranges Sale of 54,000 SF Office Complex in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Colliers has arranged the sale of a 54,000-square-foot office complex located at 12600 Willow Springs Road in Fort Worth. The site spans 17.2 acres, and construction of the facility was completed in 2022. Cody Payne and Austin Edelmon of Colliers represented the seller and procured the buyer in the transaction, both of which were private investors that requested anonymity.

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AcquisitionsNet LeaseNew YorkNortheastRetail

Boulder Group Arranges $5M Sale of Retail Property Leased to 7-Eleven in Haverstraw, New York

by Taylor Williams

HAVERSTRAW, N.Y. — The Boulder Group, an Illinois-based brokerage firm, has arranged the $5 million sale of a 3,034-square-foot retail property in Haverstraw, about 35 miles north of Manhattan, that is net leased to 7-Eleven. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a regional developer, in the transaction. The buyer was a New York-based private investor that acquired the asset via a 1031 exchange. Both parties requested anonymity.

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AcquisitionsMultifamilyNew YorkNortheast

Stav Equities Negotiates $2.5M Sale of Vacant Multifamily Property in Brooklyn

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Stav Equities LLC has negotiated the $2.5 million sale of a vacant, four-story multifamily property located at 1362 Pacific St. in the Crown Heights area of Brooklyn. Andrew Levine, Josh Lipton and Jax Hindmarch of Invictus Property Advisors collaborated with Jacob Stavsky of Stav Equities LLC to execute the off-market transaction. The buyer and seller were not disclosed.

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AcquisitionsIllinoisMidwestMultifamilyRetail

Bradford Allen Acquires Multifamily, Retail Building in Chicago’s Ravenswood Neighborhood

by Kristin Harlow

CHICAGO — Bradford Allen Investment Advisors has acquired The Henry, a multifamily and retail building located at 4346 N. Honore St. in Chicago’s Ravenswood neighborhood. The purchase price was undisclosed. The five-story building, completed in 2019, features 38 apartment units and one retail space occupied by Culver’s. At the time of sale, the property was 97 percent occupied. Rents range from $1,751 to $3,000 per month. John Butler and Danielle Morse represented Bradford Allen on an internal basis. Tyler Hague and Lauren Stoliar of Colliers represented the undisclosed seller.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $1.1M Sale of Dollar General-Occupied Property in Warsaw, Illinois

by Kristin Harlow

WARSAW, ILL. — Marcus & Millichap has brokered the $1.1 million sale of a 7,489-square-foot retail property occupied by Dollar General in Warsaw, a city in western Illinois along the Mississippi River. The net-leased property is located at 511 Main St. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company. Edward Nelson and Jake Parker of Marcus & Millichap secured and represented the buyer, an individual trust completing a 1031 exchange.

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AcquisitionsDevelopmentMidwestRestaurantRetailWisconsin

Culver’s Operator Buys 1.6 Acres of Vacant Land in Paddock Lake, Wisconsin

by Kristin Harlow

PADDOCK LAKE, WIS. — Ashish Merchant, an operator of the Culver’s restaurant chain, has purchased 1.6 acres of vacant land on Highway 83 in Paddock Lake, about 15 miles west of Kenosha. The sales price was undisclosed. Tom Treder of Founders 3 Real Estate Services represented the buyer. The seller was PL 83 Development Inc., an affiliate of Bear Development. There are nearly 900 Culver’s restaurants across the United States. The first location opened in Wisconsin in 1984.

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