NEW YORK CITY — Locally based brokerage firm GFI Realty Services has arranged the $5.1 million sale of a 36-unit multifamily property located at 86-21 112th St. in the Richmond Hill area of Queens. The property was built in 1952 and comprises 18 one-bedroom units and 18 two-bedroom units. Ohad Babo and Yosef Magarefteh of GFI Realty represented the seller and procured the buyer, both of which were private investors, in the deal.
CHICAGO — A joint venture between Gencom and GD Holdings has acquired the 192-room St. Regis Chicago. The luxury hotel, which opened this week, is centrally located in the city’s Lakeshore East Loop community where the Chicago River meets Lake Michigan. While the sales price was undisclosed, JLL arranged $76 million in acquisition financing on behalf of the buyers through Värde Partners. The five-star hotel occupies the first 11 floors within a property that also houses 393 condominium units. Studio Gang Architects designed the 101-story tower, which is the third tallest in the city. Room rates start at $711 per night at the hotel, which is the first new luxury hotel to open in Chicago since 2013. Chicago-based Magellan Development Group oversaw development of the hotel, which is also part of Magellan’s 28-acre Lakeshore East master development. Magellan is retaining a partial ownership interest in the hotel. Located at 401 E. Wacker Drive, the St. Regis Chicago features nearly 12,000 square feet of meeting space, including the 5,000-square-foot Astor Ballroom. There are also 7,000 square feet of executive function rooms with views of landmarks such as the Magnificent Mile, Navy Pier, and Grant and Millennium parks. More than 21,000 square …
DALLAS — A partnership between German investment firm MEAG and CBRE Investment Management has acquired Laurel Preston Hollow, a 159-unit apartment complex in North Dallas. The property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, clubhouse, business center, dog park and multiple courtyards. The seller and sales price were not disclosed.
LONG BEACH, CALIF. — A private buyer has purchased a 68,845-square-foot medical office building in Long Beach for $29 million. The four-story building is located at 701 E. 28th St., across the street from MemorialCare Long Beach Medical Center. The Children’s Clinic Family Health, a nonprofit 501(c)(3) health center, occupies about 27 percent of the building. There are 14 other tenants providing various clinical medical services, including general medicine, urgent care, obstetrics/gynecology, urology, neurology, on-site surgery and imaging. CBRE’s Michael Longo, Mark Shaffer, Todd Tydlaska and Sean Sullivan, Anthony Delorenzo represented the seller, Jamison Properties, in the transaction.
PHOENIX — North Mountain Professional Plaza LLC has purchased Black Canyon Commerce Park, a 56,042-square-foot office building in Phoenix, for $5.6 million. The multi-tenant building is located at 2225 W. Peoria Ave. The asset is situated about 15 minutes from the Taiwan Semiconductor Manufacturing Company plant. Bob Deininger at Commercial Properties Inc. represented the buyer. Deininger and Ken Elmer have retained the lease listing of Black Canyon Commerce Park. The seller was not disclosed.
MILWAUKIE, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Clackamas View, an independent living, assisted living and memory care facility in Milwaukie, just south of Portland. The facility consists of 25 units and was built in 2012. The property totals 15,132 square feet on approximately 1.42 acres of land. The buyer was a private investor that will lease the community to a local operator. The buyer plans to spend money on capital improvements and focus on private pay residents. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson of SLIB handled the transaction. The seller and price were not disclosed.
BLOOMINGTON, MINN. — MLG Capital has acquired Hampshire Technology Center in the Minneapolis suburb of Bloomington for an undisclosed price. The Class B flex industrial property totals more than 144,000 square feet across 14 acres. MLG acquired the asset in partnership with Hoyt Properties and plans to make interior renovations. Hampshire Technology Center marks MLG’s 25th investment in metro Minneapolis and the 11th acquisition within its MLG Private Fund VI, which launched in May 2022.
MOKENA, ILL. — Marcus & Millichap has arranged the $4.1 million sale of a single-tenant industrial building in Mokena, a southern suburb of Chicago. The 39,816-square-foot property is located at 9860 Clearvue Court in Will County. Built in 2006, the facility features a clear height of 28 feet, seven drive-in doors and one dock. Colony Hardware, a national provider of tools, equipment, supplies, products and rental/repair services to commercial construction and industrial industries, fully occupies the property. Brent Holder and Peter Doughty of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.
PISCATAWAY, N.J. — JLL has brokered the $26.5 million sale of a 101,381-square-foot warehouse located at 100 New England Ave. in the Northern New Jersey community of Piscataway. The industrial facility sits on eight acres and features a clear height of 24 feet, six loading docks and one drive-in door. Marc Duval, Jordan Avanzato, Frank Recine, Nicholas Stefans, Jason Lundy and Jose Cruz of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.
STRATFORD, CONN. — Northeast Private Client Group (NEPCG) has arranged the $23 million sale of a portfolio of two multifamily properties totaling 129 units that are located in the southern coastal Connecticut community of Stratford. Sherwood Square features 105 units in studio, one- and two-bedroom floor plans. Avon Apartments consists of 24 units, the majority of which are one-bedroom residences. Brad Balletto and Robert Paterno of NEPCG represented the seller, New Jersey-based Navarino Properties, in the transaction, and procured the buyer, Maple Leaf.