MARLBORO, N.J. — JLL has negotiated the $15.9 million sale of Brook’s Edge Plaza, a 70,274-square-foot shopping center in the Northern New Jersey community of Marlboro. Asian Food Market anchors the center, which was built in 2003. At the time of sale, Brook’s Edge Plaza was 98 percent leased to a tenant roster that includes four in-line food-and-beverage users, as well as a nail salon, drycleaner and a barbershop. J.B. Bruno, Kevin O’Hearn, Jose Cruz and Shaelyn Nuckel of JLL represented the seller, First Montgomery Group, in the transaction and procured the undisclosed buyer.
WATERLOO, N.Y. — Marcus & Millichap has brokered the sale of Finger Lakes Self Storage, a 354-unit facility in the upstate New York community of Waterloo. Built in 2014, the facility consists of 34 climate-controlled units, 296 non-climate-controlled units and 24 covered parking spaces for a total of 58,250 net rentable square feet. Nathan Coe, Brett Hatcher, Gabriel Coe and Luke Dawley of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
COON RAPIDS, MINN. — Senior Living Investment Brokerage (SLIB) has brokered the sale of The Homestead at Coon Rapids, a 53-unit assisted living and memory care community in the northern Minneapolis suburb of Coon Rapids. The sales price was undisclosed. Built in 1999, the property features 29 assisted living units and 24 memory care units. The building totals 31,195 square feet on roughly three acres. Jason Punzel, Brad Clousing and Jake Anderson of SLIB brokered the sale. The seller was a large, national nonprofit looking to condense its portfolio to focus on core communities. The buyer was an in-state owner partnering with an in-state operator looking to grow its footprint in Minnesota.
RAYTOWN, MO. — Marcus & Millichap has arranged the sale of a two-tenant retail property totaling 6,360 square feet in Raytown, a southern suburb of Kansas City. The sales price was undisclosed. The fully leased building is home to Domino’s Pizza and SmileShack. Domino’s has occupied its space since 2015 and extended early through 2030. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a California-based limited liability company. A new loan was originated on the deal by the existing lender.
BURIEN, WASH. — Stratford Square LLC has completed the disposition of Stratford Square Apartments, a 32-unit multifamily property in Burien, approximately 10 miles south of Seattle. A local family operator acquired the asset for $7.3 million. Located at 12707-12733 13th Lane SW, Stratford Square Apartments features three three-story, garden-style buildings, each offering eight two-bedroom/1.5-bath units approximately 1,000 square feet in size, and four duplexes with two-bedroom/1.5-bath townhome-style units featuring parking garages. Originally built in 1988, the property offers covered and uncovered on-site parking, in-unit washers/dryers, dishwashers, fireplaces and balconies in most units. Jacob Odegard, Dan Chhan, Tim McKay, Dylan Roeter and Matt Kemper of Cushman & Wakefield represented the buyer, while Jon Breiner and Nick Hemming of Paragon Real Estate Advisors represented the seller in the transaction.
PHOENIX — Arizona-based Alliance Plumbing Service and Repair has completed the sale-leaseback of an industrial building located at 2626 E. Elwood St. in central Phoenix. Edgewood REIT acquired the asset for $6.4 million. Built in 2019, the property features a 25,393-square-foot building on a C-2-zoned lot and a secured yard with electrical gate for equipment and trucks. Alliance Plumbing has leased the property for 12 years. Brian Ackerman of Colliers in Arizona handled the transaction and assisted in structuring the lease for Alliance Plumbing. Edgewood REIT is a North Dakota-based REIT that was founded in 2010.
AIRWAY HEIGHTS, WASH. — Kidder Mathews has brokered the sale of The Autumn Leaf Furnished Apartments, located at 12911 W. 13th Ave. in Airway Heights, a suburb west of Spokane. The property traded for $3.6 million. Max Frame of the Simon and Anderson team at Kidder Mathews represented the undisclosed seller in the deal. The name of the buyer was also not released. Built in 2017, The Autumn Leaf features 24 units.
WESTMINSTER, COLO. — CW Real Estate Partners has arranged the sale of a retail property located at 10128 Wadsworth Parkway in Westminster, a northern suburb of Denver. Equitas Development LLC & CAP Cincy LLC acquired the asset from 10108 Wadsworth Parkway LLC for $3.3 million. 7-Eleven occupies the property on a net-lease basis. Chris Wiedenmayer of CW Real Estate Partners represented the seller in the transaction.
STRATFORD, CONN. — Regional brokerage firm Atlantic Capital Partners has negotiated the $24.6 million sale of North Town Center, a 115,000-square-foot shopping center located in the southern coastal Connecticut city of Stratford. Big Y Supermarket has anchored North Town Center, which was 93 percent leased at the time of sale, since 2008. Other tenants include X-Golf, Town Line Liquors and Town Fair Tire. Justin Smith, Chris Peterson, Sam Koonce and Matt Ericson of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction. Stephen Joseph of Atlantic Capital arranged long-term financing for the buyer.
LEESBURG, FLA. — A joint venture between The Sembler Co. and Forge Capital Partners, doing business as Forge Real Estate Partners V LP, has acquired Palm Plaza, a 133,419-square-foot shopping center located at 715 N. 14th St. in Leesburg, a city in Central Florida. Crosspoint sold the property for $17.8 million. Publix anchors Palm Plaza, which was 92 percent occupied at the time of sale. Other tenants at the center include Planet Fitness, Popeyes, Quest Diagnostics, Rent-A-Center, Firehouse Subs, Core Health, OneMain Financial, T-Mobile and The UPS Store. Brad Peterson, Whitaker Leonhardt and Tommy Isola of Colliers represented the seller in the transaction.