KANSAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 58-unit assisted living community in Central Kansas. Built in the early 1990s, the property was well maintained by current ownership, including a $400,000 capital expenditure investment to ensure the community remained competitive within the local market, according to Blueprint. The buyer was a Kansas-based owner-operator. Further details were not provided. Amy Sitzman, Giancarlo Riso and Kory Buzin of Blueprint brokered the sale.
Acquisitions
EAST MOLINE, ILL. — Marcus & Millichap has brokered the $2.7 million sale of a Caliber Collision-occupied property in East Moline, a city in northwest Illinois. The net-leased building, located at 3912 17th St., was recently upgraded with $400,000 in renovations, including parking lot resurfacing, new HVAC and new LED lighting. Jake Carter, Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.
LAKE MARY, FLA. — Cushman & Wakefield has arranged the sale of Shoppes of Lake Mary, a 74,234-square-foot shopping center located in Lake Mary, roughly 20 miles outside Orlando. The property was 97 percent leased at the time of sale to tenants including HomeSense, PNC Bank, Jeremiah’s Italian Ice and Gator’s Dockside. An entity related to shopping center owner/developer Phillips Edison & Co. acquired the property for an undisclosed price. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an affiliate of Nuveen Real Estate, in the transaction.
ANAHEIM, CALIF. — Marcus & Millichap has brokered the $79 million sale of Chateau de Ville, a 254-unit multifamily community in Anaheim. Built in 1970, the property features 21 buildings on nine acres, with a mix of one- and two-bedroom floorplans. Amenities at the community include a swimming pool, clubhouse and fitness center. Tyler Leeson and Matt Kipp of Marcus & Millichap arranged the sale on behalf of the seller, a long-term partnership, and procured the buyer, a private investor.
AURORA, COLO. — JLL Capital Markets has negotiated the sale of Commerce Square, an industrial property in the Denver suburb of Aurora that totals 145,242 square feet across two buildings. Situated on nine acres, the buildings feature rear-loading configurations, 18-foot clear heights, 38 docks, 11 drive-in doors and 265 parking spaces. Larry Thiel, Ryan Sitov and Rob Key of JLL represented the seller, Graham Street Realty, in the transaction. Midtown National Group acquired the property, which was leased to 12 tenants at the time of sale, for an undisclosed price. The leasing team for Commerce Square included Carmon Hicks and Jason White of JLL.
KAHULUI, HAWAII — Alexander & Baldwin has arranged one lease and completed the sale of two properties at Maui Business Park Phase II, its 125-acre mixed-use development located in Kahului on the island of Maui. The build-to-suit industrial lease totals 29,500 square feet. The undisclosed tenant plans to relocate operations to the site upon completion of the warehouse and distribution facility. The County of Maui also purchased 12.5 acres at the property for $17.4 million, with plans to construct a new facility for its Department of Transportation. Hamai Appliances Inc. also purchased two lots totaling 1.3 acres for $2.4 million. The buyer plans to build a showroom and service center on the site to expand its current operations.
HOUSTON — Partners Real Estate has arranged the sale of a 9,283-square-foot industrial building in northwest Houston. According to LoopNet Inc., the single-tenant property at 10959 Cutten Road was built in 2004 and features 16-foot clear heights and 20 dock-high doors. Wyatt Huff and Hunter Stockard of Partners represented the buyer, M-Tech Electric LLC, in the transaction. Nick Bergmann of CBRE represented the undisclosed seller.
TREXLERTOWN, PA. — Northmarq has brokered the sale of Mayo’s Mobile Home Park, a 75-site manufactured housing property in the Lehigh Valley city of Trexlertown. Mayo’s Mobile Home Park was built in 1950 and was 98 percent occupied at the time of sale. Ari Azarbarzin and Anthony Pino of Northmarq represented the seller, Mayo Homes Co., in the transaction. The buyer and sales price were not disclosed. The deal marks the first time that the property has traded hands since 1963.
CHICAGO — Interra Realty has brokered the $4.2 million sale of a 16-unit apartment building located at 5073 N. Wolcott Ave. in Chicago’s Ravenswood neighborhood. The boutique property features 13 two-bedroom units and three three-bedroom floor plans. All residences feature modernized kitchens and bathrooms, and the building has onsite laundry and storage lockers. Built in 1927, the vintage asset sold for full list price and was fully occupied at the time of sale. Joe Smazal of Interra represented the buyer, ICM Properties, a local real estate investor. Smazal also represented the seller, a private New York-based investor.
HOUSTON — Whitestone REIT (NYSE: WSR) has purchased Garden Oaks Shopping Center, a 107,000-square-foot shopping center in northwest Houston. German discount grocer Aldi anchors the center, which was 96 percent leased at the time of sale to a mix of 19 service and convenience-based tenants, including Planet Fitness. Ryan West, John Indelli, Ryan Olive and Clay Anderson of JLL represented the seller, a subsidiary of Silver Star Properties REIT, in the transaction. The sale follows the disposition of a nearby 14,000-square-foot retail strip center of the same name earlier this year.