ROMEOVILLE, ILL. — The PMAT Cos. has acquired the Shops of Romeoville, an 82,660-square-foot retail center in the Chicago suburb of Romeoville. The purchase price was undisclosed. Tenants include TJ Maxx, Petco and Discovery Clothing. The lender-owned property had significant remaining instability and was 65 percent occupied with several month-to-month and short-term leases at the time of acquisition, according to PMAT. Within months of closing, PMAT renewed existing anchor tenancy and executed a new long-term lease with Ross Dress for Less. PMAT also worked with the Village of Romeoville to structure incentives to attract the right tenant mix for the remaining gaps. PMAT plans to reinvest in the site in conjunction with the village and to work with the existing retailers to achieve long-term commitments while bringing in new tenants.
PENNSAUKEN, N.J. — An affiliate of SNS Real Estate Investment Group has purchased a 30,266-square-foot vacant warehouse in the Northern New Jersey community of Pennsauken. According to LoopNet Inc., the building at 7101 Airport Highway was constructed in 1962 and features a clear height of 14 feet and three exterior dock doors. The site also houses a fenced-in yard area for outdoor storage. Ian Richmond of Colliers brokered the deal. The seller and sales price were not disclosed.
DALLAS — Partners Real Estate has brokered the sale of a 13,500-square-foot industrial building in the Dallas Design District. According to LoopNet Inc., the building at 155-165 Cole St. was originally constructed in 1966. Hanes Chatham Jr. and Graham Dressel of Partners represented the buyer, P4 Holdings, in the transaction. The seller and sales price were not disclosed.
WASHINGTON, D.C. — The CIM Group has sold The Argonne, a 276-unit apartment community located at 1629 Columbia Road NW in Washington, D.C.’s Adams Morgan neighborhood. The buyer and sales price were not disclosed. The eight-story brick property was originally built in 1923. Under CIM Group’s management, The Argonne has undergone upgrades to the building’s lobby, common areas, corridors and façade. Today, the property features floor plans ranging from studios to three-bedroom apartments, as well as a swimming pool, fitness center, conference center, yoga room and a dog park.
ANTIOCH, TENN. — NAI Nashville Stanton Group has brokered the $7 million sale of a 44,150-square-foot office building located at 5255 Hickory Hollow Parkway in Antioch, about 13 miles southeast of Nashville. An entity doing business as NCT LLC purchased the property from Rocketown of Middle Tennessee, a faith-based organization that operated the building as a live concert venue and skate park, according to the seller’s website. Ben Claybaker and Brandon Hoop of NAI Nashville Stanton Group represented the seller in the transaction. Sheri Ma of MM Realty and Management represented the buyer.
BOSTON — Newmark has negotiated the $39.1 million sale of a 26,000-square-foot office and retail building located at 801 Boylston St. in Boston’s Back Bay neighborhood. Fidelity Investments has served as the anchor tenant of the building, which according to LoopNet Inc. was constructed in 1998 and renovated in 2018, since 1999. Robert Griffin, Edward Maher, Matthew Pullen, Paul Penman and Jonathan Martin of Newmark represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Casey O’Brien of Newmark provided financial analysis support for the deal.
SEAFORD, DEL. — Marcus & Millichap has brokered the $7.4 million sale of a portfolio of two industrial buildings totaling 124,784 square feet in Seaford. The portfolio spans 23 acres, including a 10-acre tract that is undeveloped. Bob Johnson and Paul Johnson of Marcus & Millichap represented the seller, a Maryland-based limited liability company, in the transaction. Timothy Stephenson Jr. of Marcus & Millichap assisted in closing the deal as the broker of record, as did John McClellan and Kelly Jeter of SVN-Miller Commercial Real Estate.
WATERTOWN, MASS. — Boylston Properties and Wilder Cos. have welcomed seven new tenants to Arsenal Yards, a mixed-use destination located roughly 10 miles outside Boston that is a redevelopment of a former mall. J.Crew Factory and Jersey Mike’s Subs are now open at the property. Additionally, Butterbird, Splash and Dash, Marvelous Cuts, Medium Rare and Squeeze Massage are scheduled to open later this year. Arsenal Yards totals more than 1 million square feet and features life sciences, residential and hospitality uses, in addition to retail and restaurant space.
DETROIT — Detroit City Football Club (FC) has acquired the site of the former Southwest Detroit Hospital at the corner of Michigan Avenue and 20th Street for an undisclosed price. The organization plans to build a new stadium that will serve as the permanent home for soccer in Detroit, with a goal of opening a new soccer-specific stadium by the club’s 2027 season. Southwest Detroit Hospital opened in 1973 as the first Detroit hospital to hire and accredit African American doctors and nurses. The hospital existed for 17 years before closing in 1991 and declaring bankruptcy. The building has been abandoned for 18 years. Detroit City FC games are currently played at Keyworth Stadium in Hamtramck, about five miles north of downtown Detroit. The club will reveal more details around the stadium vision and programming after further consultation with city officials, local residents and long-time fans. A public engagement process is anticipated to kick off later this year.
CHICAGO — CBRE has arranged the sale of the Hotel Versey, a 137-room property located at 644 W. Diversey Parkway in Chicago. The sales price was undisclosed. Constructed and opened in 1925, the hotel is situated near the Lincoln Park Zoo, Lake Michigan beaches and Wrigley Field. The four-story property was recently renovated. Nate Sahn, James Foxx, Nicholas Endre, Marcello Campanini and Adam Foret of CBRE represented the seller, Lincoln Park Hotel PropCo LLC. The buyer was an entity doing business as REIT 644 LLC.