EL CENTRO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $2.4 million sale of a single-tenant retail property located in El Centro, approximately midway between San Diego and Phoenix. 7-Eleven occupies the 2,940-square-foot building on a 15-year, triple-net ground lease. Bill Asher and Jeff Lefko of Hanley represented the seller, Imperial Retail Investments LLC, in the transaction. A self-represented, California-based private investor purchased the property.
BEAUMONT AND NEDERLAND, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of seven self-storage facilities totaling 2,627 units in southeast Texas. The properties were constructed in the 1970s and 1980s and total 389,501 net rentable square feet. Two of the properties are located in Beaumont, and two are located in Nederland, with the other facilities located in Groves, Bridge City and Orange. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a California-based liability company that purchased the portfolio in 2018, in the transaction. The duo also secured the buyer, a North Carolina-based limited liability company.
ARLINGTON, TEXAS — A joint venture between Southern California-based investment firm Magma Equities and a fund backed by Macquarie Asset Management has acquired Bardin Greene, a 285-unit apartment community in Arlington. Built in 2001, the property comprises 18 two-story buildings that house one-, two- and three-bedroom units on a 16-acre site. The amenity package consists of a pool, fitness center, business center, volleyball court, courtyard with a children’s play area, resident clubhouse and onsite laundry facilities. Brian Eisendrath of Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged acquisition financing for the deal through Los Angeles-based PCCP LLC. Moody National Cos. sold the asset off-market for an undisclosed price. The new ownership plans to implement a value-add program.
INDIAN LAND, S.C. — Berkadia has negotiated the $78 million sale of Indigo at Cross Creek, a 303-unit apartment community located at 2001 Cramer Circle in Indian Land, a South Carolina suburb of Charlotte. Tampa-based Argyle Real Estate Partners purchased the property from the seller, a partnership between Taft Development Group and UHF Development. Caleb Troop, Thomas Colaiezzi, Mark Boyce and Blake Coffey of Berkadia represented the seller in the transaction. As part of the deal, Argyle assumed an existing Fannie Mae mortgage. Built in 2017, Indigo at Cross Creek features one-, two- and three-bedroom floor plans averaging 1,134 square feet. Community amenities include a saltwater pool, one-mile walking trail, cabanas with outdoor fire pits, sundeck, grilling stations, business lounge with flat-screen TVs, fitness center, yoga studio, clubhouse, bocce ball court and a dog park.
KNOXVILLE, TENN. — CBRE has brokered the sale of TENN, a 603-bed student housing community located adjacent to the University of Tennessee campus in Knoxville. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Brett Carr of CBRE represented the seller, Campus Apartments, in the disposition of the property to Schenk Realty. The sales price was not disclosed. The community was developed in 2018 and is located within Knoxville’s Fort Sanders neighborhood at 1830 Cumberland Ave. TENN offers 140 fully furnished units in three-, four- and five-bedroom configurations. Shared amenities include a two-story clubhouse, swimming pool, courtyard grill stations and a fire pit, 24-hour fitness center, computer lab, TV lounge, Zen room, gaming lounge, group study rooms, a coffee station, free tanning, an indoor golf putting green, Amazon hub and ground-floor retail space.
HATTIESBURG, MISS. — Franklin Street has arranged the sale of Hattiesburg Climate Controlled Storage, a 404-unit self-storage facility located at 7329 US Highway 98 in Hattiesburg. Mississippi-based Anderson Construction purchased the facility from Atlanta-based Highline Storage Partners for an undisclosed price. Frank DeSalvo and David Perlleshi of Franklin Street’s National Self-Storage Team represented both parties in the transaction. The newly built, climate-controlled facility spans 50,225 rentable square feet and features keyless entry and video surveillance.
CHICAGO — Colliers has arranged the sale of seven retail properties and one industrial building in metro Chicago for $10.5 million. The sale represents the first part of a multi-phased transaction that encompasses 22 retail properties, three land sites and one industrial building. Peter Block and Rachel Patten of Colliers represented the seller, a family office. Indianapolis-based Arnold Meyer & Co. was the buyer. Block expects to close on the remaining properties in the portfolio this summer.
KANSAS CITY, MO. — Matthews Real Estate Investment Services has negotiated the sale of a portfolio of medical office buildings throughout metro Kansas City for an undisclosed price. Known as the Sabates Eye Centers Portfolio, the portfolio features five properties with 13 suites totaling 76,826 square feet and is 90 percent leased. Rahul Chhajed and Michael Moreno of Matthews represented the undisclosed seller. A private family office based in Ohio was the buyer.
DARIEN, ILL. — Mid-America Real Estate Corp. has brokered the sale of Darien Shopping Center in the western Chicago suburb of Darien for an undisclosed price. The 46,582-square-foot retail center is fully leased to tenants such as American Freight, Concentra Urgent Care, Chuck E. Cheese and World Star Nails & Spa. Jewel-Osco shadow anchors the property. Emily Gadomski and Rick Drogosz of Mid-America represented the private seller. The asset sold to a local private buyer.
WOODBRIDGE, N.J. — Marcus & Millichap has brokered the $11 million sale of a gas station and convenience mart in the Northern New Jersey community of Woodbridge. The property totals 4,453 square feet and is net leased to QuickChek. Justin Natalizio and Eric Anton of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
