GLENDALE, WIS. — Founders 3 Real Estate Services has negotiated the $5.4 million sale of an 86,750-square-foot industrial building in the Milwaukee suburb of Glendale. The property sits on 3.5 acres at 6100 N. Baker Road. Scott Revolinski and Brett Deter of Founders 3 represented the seller, Grandview Park Partners LLC. The buyer was an entity doing business as 2022 Florist LLC.
PUYALLUP, WASH. — Equus Capital Partners has acquired Sierra Sun Apartments, a 150-unit property in the Seattle suburb of Puyallup. Built in 2006, Sierra Sun comprises 20 apartment buildings and an 8,500 square-foot clubhouse and amenity center. The community offers one-, two- and three-bedroom townhome-style units. Each unit includes an attached two car garage. Equus will conduct $2 million in renovations to the asset, including interior and exterior updates, as well as enhancements to the clubhouse and amenity center. Madison Apartment Group, a subsidiary of Equus, will oversee the upgrades in addition to managing the community. The investment is being made on behalf of a programmatic joint venture between an affiliate of Equus and a public pension plan that is based in the U.S.
MISSION VIEJO AND PALM DESERT, CALIF. — SRS Real Estate Partners has brokered the $15 million sale of two single-tenant retail properties in Southern California. Located in Mission Viejo and Palm Desert, Chick-fil-A occupies both buildings on triple-net ground leases. Jimmy Slusher, Eric Shain and John Read of CBRE represented the seller of the 4,800-square-foot Mission Viejo property, a local private investor. The Palm Desert property comprises 4,738 square feet on 1.6 acres within Monterey Crossing Shopping Center. Timothy Genske of CBRE and Bruce Bailey of The Bailey Group represented the seller, UCLA, which received the property as a donation. Matthew Mousavi and Patrick Luther of SRS represented the private, California-based buyer in both transactions.
MORENO VALLEY, CALIF. — Faris Lee Investments has brokered the $4.6 million sale of Woodstock Plaza, a retail strip center in Moreno Valley. The center was 75 percent occupied at the time of sale. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller in the all-cash transaction. A private investor acquired the property.
APOPKA, FLA. — JLL has arranged the $40.2 million sale of Crossroads 429, a two-building industrial property in Central Florida spanning 280,437 square feet. The 52.1-acre site is located at 2800 General Electric Road in Apopka and features rear-load configuration, 32-foot clear heights, 67 dock-high doors, 198 parking spaces and 93 trailer spaces. Drake Street Partners and Whalley Capital Group purchased Crossroads 429 from Summit Real Estate Group. Luis Castillo, Cody Braiz and Dennis Mitchell of JLL represented the seller and procured the buyers in the transaction.
HIALEAH, FLA. — Codina Partners has acquired the former Sears site at Westland Mall in Hialeah for an undisclosed price. The 15-acre parcel has been vacant since February 2020. The locally based buyer, following the closure of the sale, formed a joint venture with Westland Mall owner, Centennial, to redevelop the site and add a mixed-use concept with a residential component. Centennial acquired Westland Mall from Starwood Capital in 2021. The shopping center consists of more than 300,000 square feet of retail space that is anchored by Macy’s, JC Penney and the former Sears site. The construction timeline of the mixed-use redevelopment was not disclosed.
WACO, TEXAS — Marcus & Millichap has brokered the sale of a 122-room Holiday Inn & Suites hotel in Waco. The hotel was built on 2.8 acres in 2008 and offers a pool, fitness center and a business center.. Skyler Cooper of Marcus & Millichap represented the seller, undisclosed limited liability company, in the transaction. Cooper also procured the buyer, Dallas-based CenterPoint Hospitality. Chris Gomes and Allan Miller, also with Marcus & Millichap, assisted in closing the deal as supporting brokers.
HOUSTON — Partners Real Estate has arranged the sale of a 22-unit apartment building located at 4525 Weaver Road in North Houston. According to LoopNet Inc., the two-story building was constructed on a half-acre site in 1972 and renovated in 2022. Ryan DeGennaro of Partners represented the seller, Mell Investment Group, in the transaction. Enrique Moreno Jr. of eXp Commercial represented the undisclosed buyer.
BUFFALO, N.Y. — Community Preservation Partners (CPP) has acquired Ellicott Park Townhomes, a 220-unit affordable housing complex in downtown Buffalo. Built in 1967, the property consists of one-, two- and three-bedroom units that are reserved for households earning 60 percent or less of the area median income. The seller and sales price were not disclosed, but CPP plans to implement a $14.2 million capital improvement program that will be part of a total investment consideration of $54.7 million.
MASON, OHIO — Senior Living Investment Brokerage (SLIB) has brokered the sale of The Landing of Long Cove, an 81-unit assisted living and memory care community in Mason, about 25 miles northeast of Cincinnati. The sales price was undisclosed. Built in 2011, the property features 61 assisted living units and 20 memory care units. Daniel Geraghty and Bradley Clousing of SLIB brokered the sale. According to SLIB, the seller was interested in focusing its attention on communities that more closely align with its current footprint, while the buyer, a Midwest-based owner-operator, was looking to add to its existing footprint throughout the region. The buyer plans to make renovations to the community.