MIAMISBURG, OHIO — Friedman Real Estate has brokered the sale of Prestige Plaza in Miamisburg, a southern suburb of Dayton. The sales price was undisclosed. The retail center, which totals 22,661 square feet, is home to tenants such as Leslie’s Pool Supplies. Rich Deptula of Friedman represented the undisclosed buyer and seller. Ten-X was the auction partner.
GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Country Gables, a multifamily property in Glendale. Western Wealth Capital sold the asset to Dalan Management for $28 million, or $201,439 per unit. Completed in 1984, Country Gables features 139 one- and two-bedroom/two-bath apartments with walk-in closets, stackable or full-size washer/dryers, private patios or balconies with designated storage space and vaulted ceilings in second-story units. Community amenities include a swimming pool, laundry facility, covered parking and controlled access gated entry. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the transaction. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets’ team arranged acquisition financing on behalf of the buyer. The direct lender was not disclosed.
SCOTTSDALE, ARIZ., AND PHOENIX — MCR has purchased two hotels in the greater Phoenix area: Holiday Inn Express & Suites Scottsdale – Old Town and Hampton Inn by Hilton Phoenix-Biltmore. With this acquisition, MCR now owns nine hotels in Arizona. Located at 3131 N. Scottsdale Road in Scottsdale, Holiday Inn Express & Suites features 169 suites and is 1.5 miles from Fashion Square Mall. Hampton Inn Phoenix-Biltmore, located 2310 E. Highland Ave. in Phoenix, features 121 rooms. Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller, MIG Real Estate, in the transaction. The sales price was not disclosed.
PUEBLO, COLO. — Cushman & Wakefield has arranged the sale of Belmont Heights Apartments, a multifamily community located at 1408-1224 E. 21st St. in Pueblo. Anchor Belmont purchased the asset from an entity doing business as Belmont Heights Apartments LLC for $3.6 million, or $100,000 per unit. Lee Wagner and Jeff Dimmen of Cushman & Wakefield’s Multifamily Investment Services team in Colorado Springs, Colo., represented the buyer and seller in the transaction. The five-building complex features 36 units, including select units offering extra half-bathrooms and fireplaces, 20 townhome-style units and outdoor courtyards. The property offers a mix of 16 one-bedroom, 16 two-bedroom and four three-bedroom floor plans.
MONROE, N.C. — Cushman & Wakefield has brokered the sale-leaseback of a 183,509-square-foot manufacturing facility located at 1710 Airport Road in Monroe. Circor International sold the property, which will continue to serve as the headquarters for the company’s IMO Pump brand. Built in 1979, the building was expanded in 2008. Rob Cochran, Bill Harrison, Nolan Ashton and Tommy Whitmore of Cushman & Wakefield represented Circor International in the transaction. Monroe Airport Industrial LLC, an affiliate of Welcome Group, acquired the facility for an undisclosed price. Ted Kakambouras of Welcome Group and Allen de Olazarra of Equity Real Estate Partners represented Welcome Group in the transaction. Jason Hochman, Ron Granite and Bradley Geiger of Cushman & Wakefield secured acquisition financing on behalf of the buyer.
NEW ORLEANS —SRSA Commercial Real Estate has arranged the sale of Algiers Plaza, a 228,000-square-foot shopping center located at 4100 General De Gaulle Drive in New Orleans. Tenants at the property include Winn-Dixie, Walgreens, Ross Dress for Less, T.J. Maxx, Petco, Five Below and Chick-fil-A. Steve Reisig, Kirsten Early and Christopher Robertson Jr. of SRSA, along with Scott DeYoung and Jeff Conover of Faris Lee Investments, represented the seller, N3 Real Estate, in the transaction. The buyer and sales price were not disclosed.
GOODYEAR, ARIZ. — Greenlight Communities has completed the disposition of Cabana Encanto, an attainable housing property located within the Palm Valley master-planned community in Goodyear. A partnership between Sunrise Multifamily and Ascent Equity Group acquired the asset for $61 million, or $213,287 per unit. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Situated on 8.8 acres, Cabana Encanto features 286 apartments with 9-foot ceilings, 8-foot keyless entry doors and front porches or patios. Community amenities include controlled access, a leasing office, clubhouse with social space, coworking booths with soundproof panels, a swimming pool, grilling stations, a multipurpose event lawn and Zen gardens.
MIDLAND, TEXAS — Marcus & Millichap has brokered the sale of a two-building, 21,000-square-foot industrial complex in the West Texas city of Midland. Built on 10 acres in 2011, the property was fully occupied at the time of sale by Arkos Field Services, which provides compression equipment for the natural gas industry. Adam Abushagur, Davis Cagle and Nathan Parkey of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.
HOUSTON — Dallas-based brokerage firm STRIVE has negotiated the sale of Greenwillow Shopping Center, a 10,033-square-foot, fully leased retail strip center in northwest Houston. According to LoopNet Inc., the property was built in 2003. Michael Hill and Jake Dutson of STRIVE represented the seller, a California-based private investor, in the transaction. The duo also procured the buyer, a local investor. Both parties requested anonymity.
PLAINSBORO, N.J. — Massachusetts-based investment firm Colony Hills Capital has acquired Addison at Princeton Meadows, a 440-unit apartment community located in the Central New Jersey community of Plainsboro. The sales price was $115 million. The garden-style property offers studio, one- and two-bedroom units and amenities such as a pool, fitness center, tennis court, basketball court, dog park and outdoor grilling and dining stations. Allan Szlafrok, Eli Maryl, Ohad Babo, and Michael Weiser of GFI Realty Services represented Colony Hills Capital, which plans to implement a value-add program, in the transaction. JLL represented the seller, New Jersey-based Kushner Real Estate Group (KRE).
