MIAMI — NAI Miami | Fort Lauderdale has brokered the $5.2 million sale of an office building located at 2150 Coral Way in Miami. Jeremy Larkin and Craig Merlin of NAI Miami | Fort Lauderdale represented the seller, an entity doing business as Ocean Coral Way Inc., in the transaction. Alphatur LLC acquired the property, which totals 17,450 square feet and is situated along Coral Way, a corridor connecting the Coral Gables district to Miami’s Brickell and Downtown districts.
CHANDLER, ARIZ. — Libitzky Property Cos. has acquired Parc Germann, a two-building industrial campus in the Phoenix suburb of Chandler, for an undisclosed price. Built in 2020, Parc Germann offers a total of 224,471 square feet of Class A industrial space that was 100 percent leased to three tenants at the time of acquisition. Situated on 16 acres, Parc Germann features a 92,261-square-foot building at 2215 E. Germann Road and a 132,210-square-foot warehouse at 2225 E. Germann Road. The buildings feature 28-foot clear heights and the campus offers 62 dock-high doors, 14 drive-in doors, 262 parking spaces and ideal ingress/egress. Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of Cushman & Wakefield National Industrial Advisory Group – Mountain West represented the undisclosed seller in the disposition.
TEMPE, ARIZ. — Newport Beach, Calif.-based BKM Capital Partners has purchased Ash Business Center, a nine-building, small-bay light industrial asset in Tempe, for $17.4 million. The name of the seller was not released. Located at 4666-5010 S. Ash Ave., the 89,728-square-foot Ash Business Center features 16 units averaging 5,608 square feet with 16- to 18-foot clear heights, 16 grade-level doors and ample parking.
SPENCERPORT, N.Y. — New York-based brokerage firm Legacy Realty Group Advisors has negotiated the sale of Spencerport Village Plaza, a 99,096-square-foot shopping center located on the western outskirts of Rochester. Tops Friendly Markets anchors the property, which is also home to tenants such as Dollar Tree, M&T Bank and Lamont Awards & Apparel. Jacob Baruch and Daniel Baruch of Legacy Realty represented the buyer and seller, both of which requested anonymity, in the transaction.
NEW YORK CITY — New York-based nonprofit organization Innovative Resources for Independence has purchased a 9,227-square-foot retail building in the Rego Park area of Queens. The sales price was $5.2 million. The building, which previously housed a Rite-Aid, is located at 65-35 Woodhaven Blvd. and includes 21 parking spaces. Andrew Jaworski, Dean Rosensweig, Chris Betting and Jojo Lewis of CBRE represented the undisclosed seller in the transaction.
MOORESVILLE, N.C. — Northmarq has brokered the $55 million sale of Braxton at Lake Norman, a 232-unit apartment community located at 118 Plantation Creek Drive in Mooresville, a suburb of Charlotte. Andrea Howard, Caylor Mark, John Currin, Allan Lynch, Jeff Glenn and Austin Jackson of Northmarq represented the seller, Passive Investing, in the transaction. Inwood Holdings LLC purchased the community, which was built in 2014 near I-77. Braxton at Lake Norman is situated on 20 acres near Lake Norman and features apartments averaging 1,055 square feet in size. Amenities include a saltwater swimming pool, 24-hour fitness center with rock climbing wall, drive-thru mail kiosk, car wash station and a pet park and spa.
HARRISONBURG, VA. — A partnership between Pearlmark and Seastone Capital has purchased 1433 Pleasant Valley, a 433,039-square-foot industrial building located off I-81 in Harrisonburg. The seller and sales price were not disclosed. The property was fully leased at the time of sale to two tenants: Marshalls and DRiV Automotive. Built more than 20 years ago on a 30.2-acre site in Virginia’s Shenandoah Valley region, the building is partially cross-docked and features 35-foot clear heights. A major life insurance company provided acquisition financing for the transaction, which represents the fourth investment for Pearlmark’s latest equity fund, Pearlmark Equity Partners II LP.
NORTH CHARLESTON, S.C. — American Landmark Apartments has purchased Ingleside Apartments, a 304-unit community located at 9345 Blue House Road in North Charleston. The Tampa-based investor plans to rebrand the property, its seventh in the Charleston metropolitan area, as Sage at Ingleside. The seller and sales price were not disclosed. Built in 2008, Sage at Ingleside offers amenities including a 24-hour fitness center, swimming pool, barbecue/picnic area, multipurpose clubhouse and an onsite dog park.
DALLAS — Solender/Hall, a brokerage firm that specializes in helping nonprofits, has negotiated the sale of a 63,000-square-foot office building located at 9696 Skillman St. in northeast Dallas. The buyer, nonprofit organization Dallas Metrocare Services, plans to use the three-story building to provide mental health services, housing and homeless assistance. The building will also house a pharmacy and healthcare clinic for military families. BBH Capital Investments sold the property for an undisclosed price.
AURORA, COLO. — CBRE has arranged a $15.4 million loan for Stratford Partners’ acquisition of Del Arte Townhomes in Aurora, just east of Denver. Located at 11135 E. Alameda Ave., Del Arte Townhomes offers 94 one- and two-bedroom apartments with washers/dryers and attached garages. Built in 2001, the community features eight two-story buildings across 6.5 acres. Scott Peterson, Bill Chiles, Brian Cruz and Colby Matzke of CBRE Capital Markets’ debt and structured finance team secured a five-year, interest-only agency loan. CBRE’s Shane Ozment, Terrance Hunt, Andy Hellman and Justin Hunt facilitated the sale of the community.
