NEW YORK CITY — Locally based brokerage firm Brax Realty has negotiated the $6.2 million sale of two adjacent apartment buildings in Manhattan’s East Village area. The buildings at 317 E. 14th St. and 319 E. 14th St. house 24 apartments between them as well as two retail spaces. According to LoopNet Inc., both buildings rise five stories and were constructed in 1910. Michael Ferrara and Cole Kinney Leonhardt of Brax Realty brokered the deal. The buyer and seller were not disclosed.
MANSFIELD, MASS. — Marcus & Millichap has brokered the $4.7 million sale of a 25-unit apartment building in Mansfield, a southern suburb of Boston. The building at 1 Samoset Ave., which is known locally as “The Grain Mill” and was converted from that use to residential in 1981, consists of 24 one-bedroom apartments and a two-bedroom penthouse. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which were local limited liability companies, in the transaction.
SNELLVILLE, GA. — JLL has arranged the sale of Presidential Commons, a 264,271-square-foot shopping center located in Snellville, a northeast suburb of Atlanta. Kroger anchors the property, which was 89 percent leased at the time of sale. Other tenants at the center include Petco, Ulta Beauty, Burlington, Five Below and Aaron’s. SITE Centers sold the property to Sterling Organization for an undisclosed price. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller in the transaction.
CHICAGO — SVN Chicago Commercial has brokered the sale of a historic building totaling 16,400 square feet in the city’s Wicker Park neighborhood for an undisclosed price. The property, built in 1907, is located at 1934 W. North Ave. near The Robey Hotel. Tim Rasmussen, Adam Napp and Chad Schroedl of SVN represented the undisclosed seller. The buyer, Envoi Partners LLC, plans to renovate the building and add nine rental units on the second and third floors. The property served as the filming location for MTV’s “The Real World Chicago” in 2001, and was later home to Cheetah Gym and Verge Gym.
GRAND FORKS, N.D. — Marcus & Millichap has arranged the sale of The Current, a 40-unit affordable housing community in Grand Forks. The sales price was undisclosed. Built in 2007, the Low-Income Housing Tax Credits property features 15 one-bedroom units and 25 two-bedroom units. Matthew Whiteside of Marcus & Millichap represented the seller, MDI Limited Partnership #110, and procured the buyer, Kemo Sabe Properties LLC.
COMMERCE TOWNSHIP, MICH. — Dominion Real Estate Advisors LLC has negotiated the sale of a 10,400-square-foot industrial building located at 3170 Walnut Lake Court in Commerce Township, a northwest suburb of Detroit. David Giltner of Dominion represented the undisclosed seller. David Wax of Burger & Co. represented the buyer, Valleyoak One LLC, which will operate a software company doing business as Brilliant Systems at the property. The sales price was undisclosed.
TEMPE, ARIZ. — Sagard Real Estate has purchased Trovita Rio, a multifamily property in Tempe, for an undisclosed price. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the undisclosed seller in the transaction. Built in 2019, Trovita Rio offers 209 apartments, a rooftop entertainment deck, fitness center, community clubhouse and electric vehicle charging stations.
LAKE OSWEGO, ORE. — A joint venture between Evergreen Medical Properties and Bain Capital’s real estate team has acquired 4004 Kruse Way Place, an office building in Lake Oswego, from San Francisco-based Shorenstein Properties for an undisclosed price. The joint venture plans to convert the three-story, 59,865-square-foot building, which is currently operating as traditional office space, into an outpatient healthcare facility. At the time of sale, asset was 74 percent occupied with Providence Health & Services as the anchor tenant. Evan Kovac of JLL Capital Markets National Medical Properties and Buzz Ellis of JLL Pacific Northwest Advisory represented the seller and procured the buyer in the transaction.
SEATTLE — Northmarq has negotiated the sale of Aldercrest Apartments, a multifamily property located at 303 10th Ave. in Seattle. An entity doing business as 303 10th Ave LLC acquired the asset for $13.1 million. Situated within the city’s First Hill district, Aldercrest Apartments offers 47 studio, one- and two-bedroom floorplans with nine-foot ceilings, bay windows and in-unit washers and dryers. Community amenities include landscaped grounds, controlled access, gated/assigned underground parking and 24-hour emergency maintenance. Tyler Smith, Steve Fischer, Joe Kinkopf, Brendan Greenheck, Taylor Wymna and Matt Johnson of Northmarq’s Seattle Multifamily Investment Sales team represented the undisclosed seller in the transaction.
SACRAMENTO, CALIF. — CBRE has arranged the sale of an industrial building located at 600-610 Sequoia Pacific Blvd. in Sacramento. Henderson Enterprises LP sold the asset to an undisclosed buyer for $5.8 million. WCP Solutions, a wholesale distributing company, occupies the entire 58,160-square-foot building. Situated on three acres, the property offers 22-foot clear heights, eight dock-high doors and two grade-level doors, as well as 6,880 square feet of office space. Matt Post, Todd Sanfilippo, Anthony DeLorenzo, Sammy Cemo and Nick Williams of CBRE represented the seller in the deal.