STOUGHTON, MASS. — Cushman & Wakefield has brokered the sale of the Arbors of Stoughton, a 91-unit assisted living and memory care community in Stoughton, about 20 miles south of Boston. The three-story facility opened in 2009. Richard Swartz, Jay Wagner and Jim Dooley of Cushman & Wakefield represented the seller, a partnership between The Gralia Group and an undisclosed institutional investor, in the transaction. A partnership between KIRCO and Everbrook Senior Living acquired the property. Cushman & Wakefield also arranged the acquisition financing through Comerica Bank on behalf of the borrower.
SARASOTA, FLA. — Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot shopping center in Sarasota. Burlington anchors the center, which houses 15 tenants, including Stage Door Studios, ofKors Bakery and EGGSTraordinary Café. Burlington recently downsized its footprint at the center, which it has anchored since 2001. Bee Ridge Square is located off exit 207 of I-75 at the intersection of Bee Ridge and Cattlemen roads. Justin Smith, Chris Peterson, Fred Victor and Sam Koonce of Atlantic Capital Partners represented the seller and procured the buyer in the transaction. The seller and sales price were not disclosed.
LAS VEGAS — A joint venture between BKM and TerraCore Capital has acquired Decatur Business Center, an 88,205-square-foot light industrial building in Las Vegas, for $25.9 million. The building is located at 5475 S. Decatur Blvd. It features warehouse, office and showroom space in a two-story, concrete tilt-up facility. Decatur Business Center is fully leased to five high-credit tenants across a range of industries. The sellers were Terry York Properties and Heller Cos. BKM represented itself in the off-market transaction.
BEAUMONT, CALIF. — Wood Investments Cos. has sold a 4,000-square-foot, single-tenant retail pad building in the Inland Empire city of Beaumont. The company recently developed the property, which Sherwin Williams occupies on a net-lease basis. Lee Csenar and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the $3.2 million transaction. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the Hemet-based buyer. The retail pad is located adjacent to San Gorgonio Village, a 78,000-square-foot shopping center that Wood Investments developed and owns.
ST. LOUIS — Cushman & Wakefield has brokered the sale of Oxford Hills, a 480-unit apartment community in St. Louis. The sales price was undisclosed. Located at 10304 Oxford Hills Drive, the property features amenities such as a pool, fitness center, dog park, clubhouse, playground, tennis courts and recreational areas. Matt Stephens, Hannah Ott and George Tikijian of Cushman & Wakefield represented the seller, Harbor Group International. FPA Multifamily was the buyer.
CORONA, CALIF. — Kearny Real Estate Co., a Los Angeles-based developer and investor, has sold Corona Lakeside Logistics Center, a five-building industrial park located in the Riverside County submarket of Inland Empire. The buyer, GLP Capital Partners, acquired the 730,000-square-foot development for $325 million. Michael Kendall, Richard Schwartz, Gian Bruno, Joey Reaume and Kenny Patricia of Colliers represented both parties in the transaction. The sales price represents the largest ground-lease ownership transfer in the history of the Inland Empire and one of the largest ever for Southern California, according to Colliers. “The buyer recognized the intrinsic value of this development and is thrilled to be adding it to its growing portfolio of Class A properties,” says Kendall. “Kearny built a best-in-class industrial development at the Inland Empire bullseye that is the I-15/CA-91 interchange.” “This is a culmination of seven years in the making,” adds Schwartz. “It was an honor to work with the Kearny team through the development phase and witness its project come to fruition.” Kearny recently delivered the park nearly two years after breaking ground. The developer signed a 99-year ground lease at the 37-acre site in 2019 with a private family owner, a deal that was …
TAMPA, FLA. — Boca Raton-based Basis Industrial has purchased portfolio of industrial properties located in Tampa for $33 million. The portfolio includes Brandywine Business Center at 3801 Corporex Park Drive; Corporex Plaza at 3902 Corporex Park Drive and Presidents Plaza Business Center at 4801 George Road. Together the properties total 224,108 square feet. Tenants at the properties, which were 96 percent occupied at the time of sale, include Joffrey’s Coffee, Global Alliance Distributors, Ademco Inc., E-Med Source and Tri-Ed Distribution. Anthony Scavo represented Basis Industrial on an internal basis. Douglas Mandel of Marcus & Millichap’s Institutional Property Advisors (IPA) division represented the undisclosed sellers.
ORLANDO, FLA. — CBRE has arranged the sale of an industrial portfolio comprising 241,124 square feet across three buildings in Orlando. Located at 10425 S. Orange Ave., 523 W. Grant St. and 44 27th St., the buildings total 130,400, 62,210 and 48,514 square feet, respectively. GID Industrial purchased the portfolio, which was fully leased to 14 tenants, including USPS, at the time of sale. José Lobón, Trey Barry, Frank Fallon, Royce Rose and Alain Bonvecchio of CBRE Capital Markets represented the undisclosed, Boston-based seller in the transaction. David Murphy and Monica Wonus of CBRE also assisted with the sale, the price of which was not disclosed.
KNOXVILLE, TENN. — MZ Capital Partners has purchased the Residences at Devanshire, a community comprising 87 single-family rental homes in Knoxville. Built in 2006, the property features units with three bedrooms and two full bathrooms. Homes also feature back porches or patios, attached garage parking and grass backyards. The sales price and seller were not disclosed.
RICHMOND, VA. — Cushman & Wakefield|Thalhimer’s Capital Markets Group has brokered the $7.3 million sale of Wistar Center in Richmond. Located at 8101-8157 Staples Mill Road, the portfolio comprises 49,092 square feet of industrial and retail space. Fully leased to 20 tenants, the retail property features 20,436 square feet. Totaling 28,656 square feet across two buildings, the industrial space was also fully leased at the time of sale. Bo McKown, Catharine Spangler and Eric Robison of Cushman & Wakefield|Thalhimer arranged the sale on behalf of the seller, Fernau LeBlanc Investment Partners. Prudent Growth Partners was the buyer.