Acquisitions

JLL Brokers $39.1M Sale of Publix-Anchored Shopping Center in Jupiter, Florida

by John Nelson July 14, 2023

JUPITER, FLA. — JLL Capital Markets has brokered the $39.1 million sale of Bluffs Square Shoppes, a 123,917-square-foot shopping center located in Jupiter. Constructed in 1986, the property is anchored by Publix. Other tenants at the center, which was 98 percent leased at the time of sale, include Walgreens, Uncle Eddie’s, Anthony’s Women Apparel, Goodwill, The UPS Store, Toojay’s Deli and Cafe Solé. Danny Finkle, Jorge Portela, Eric Williams and Kim Flores of JLL represented the seller, Sterling Organization, in the transaction. BPS Partners acquired the property.

July 14, 2023

Acquisitions Multifamily Seniors Housing Texas

JLL Arranges Sale of 105-Unit Seniors Housing Property in Broken Arrow, Oklahoma

by Taylor Williams July 14, 2023

BROKEN ARROW, OKLA. — JLL has arranged the sale of Prairie House, a 105-unit seniors housing property located in the Tulsa suburb of Broken Arrow. Prairie House was built in 2016 and features 73 assisted living units, ranging from studio to two-bedroom units, and 32 studio memory care units. Charles Bissell, Zach Brantley and Hope Brunner of JLL represented the seller, Prevarian Senior Living, in the transaction and procured the buyer, an entity doing business as TUL ALF 3 LLC. Legend Senior Living, an affiliate of the buyer, will operate the community. The price was not disclosed.

July 14, 2023

Acquisitions New York Northeast Office

Kaufman Organization Acquires Manhattan Office Building for $92.5M

by Taylor Williams July 14, 2023

NEW YORK CITY — The Kaufman Organization has acquired 875 Avenue of the Americas, a 26-story, 265,000-square-foot office building in Manhattan’s NoMad neighborhood, for $92.5 million. The building was originally constructed in 1926. Chris Varjan of Lee & Associates led a team that represented the seller, which had owned the property since 1975, in the transaction.

July 14, 2023

Acquisitions Industrial Massachusetts Northeast Self-Storage

Marcus & Millichap Brokers Sale of 1,100-Unit Self-Storage Facility in Peabody, Massachusetts

by Taylor Williams July 14, 2023

PEABODY, MASS. — Marcus & Millichap has brokered the sale of Andover Street Self Storage, a 1,100-unit facility located on the northern outskirts of Boston in Peabody. The facility spans 76,396 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.

July 14, 2023

Acquisitions Illinois Industrial Midwest

Lee & Associates Negotiates $2.7M Sale of Truck Maintenance Facility in South Elgin, Illinois

by Kristin Harlow July 14, 2023

SOUTH ELGIN, ILL. — Lee & Associates of Illinois has negotiated the $2.7 million sale of a 21,627-square-foot truck maintenance facility in South Elgin. The property at 1790 Gilpen Ave. features 20 drive-in doors and 1,904 square feet of office space. Kenneth Franzese and John Cassidy of Lee & Associates represented the seller, Rock Investment Group LLC. John Joyce of Lee & Associates represented the buyer, Nomad Investment Group LLC.

July 14, 2023

Acquisitions Hospitality Michigan Midwest

Marcus & Millichap Brokers $1.8M Sale of Bliss Point Inn Hotel in New Buffalo, Michigan

by Kristin Harlow July 14, 2023

NEW BUFFALO, MICH. — Marcus & Millichap has brokered the $1.8 million sale of the Bliss Point Inn hotel in New Buffalo, which is located just north of the Indiana state border and along Lake Michigan. Located at 11539 O’Brien Court, the property includes 90 rooms. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both private investors. Chris Gomes and Allan Miller of Marcus & Millichap were also listed on the deal as supporting brokers. Steve Chaben, the broker of record in Michigan, assisted in closing the transaction.

July 14, 2023

Acquisitions California Retail Western

Wood Investments Acquires 25,500 SF Retail Property in San Clemente, California

by Jeff Shaw July 14, 2023

SAN CLEMENTE, CALIF. — Wood Investments Cos. has acquired a 25,000-square-foot, single-tenant retail property in San Clemente for $7 million. The 99 Store occupies the property, which is situated within Pico Plaza shopping center. “The 99 Store has been a good tenant and partner of ours in other centers, and this was another opportunity to partner with them again,” says Patrick Wood, chief executive officer and president of Wood Investments. The seller was not disclosed.

July 14, 2023

Acquisitions California Retail Western

Progressive Brokers $7.2M Sale of Single-Tenant Retail Asset in Corona, California

by Jeff Shaw July 14, 2023

CORONA, CALIF. — Progressive Real Estate Partners has brokered the $7.2 million sale of a single-tenant retail property located in the Inland Empire city of Corona. Merit Auto Spa, a full-service car wash center, occupies the building, which is an outparcel to Corona Hills Marketplace. A California-based private investor purchased both the property and business. Victor Buendia of Progressive represented the undisclosed seller in the transaction.

July 14, 2023

Acquisitions California Multifamily Western

CBRE Arranges $5.5M Sale of Three Multifamily Properties in Orange County, California

by Jeff Shaw July 14, 2023

ORANGE, SANTA ANA AND SAN CLEMENTE, CALIF. — CBRE has brokered the sales of three fourplex apartment buildings in Orange County for a total $5.5 million. Dan Blackwell and Amanda Fielder represented the sellers and procured the buyers in all three transactions. CBRE brokered the sale of 609 S. Cypress St. in Orange for $1.8 million. The buyer was a private investor based in Orange County. The seller was an out-of-state private investor. The property was built in 1966 and offers three two-bedroom units and one three-bedroom unit. Blackwell and Fielder also represented the seller in the $1.7 million sale of a property at 405 Nobel Ave. in Santa Ana. The fourplex was built in 1969 and offers one-, two- and three-bedroom floor plans. Amenities include an on-site laundry facility and a balcony or patio for each unit. The community was recently renovated with new stairs, railings and exterior paint. Finally, Blackwell and Fielder arranged an off-market transaction for a 1031 exchange buyer in the purchase of a property at 143 W. Canada in San Clemente. Both the buyer and seller were Orange County-based private investors. The asset traded hands for $2 million. The building rises two stories and offers …

July 14, 2023

Acquisitions California Multifamily Western

Kidder Mathews Negotiates $3.6M Sale of Eight-Unit Apartment Building in Los Angeles

by Jeff Shaw July 14, 2023

LOS ANGELES — Kidder Mathews brokered the $3.6 million sale of a property at 4737 Kester Ave. in the Los Angeles neighborhood of Sherman Oaks. The property offers eight units across an 8,600-square-foot site. The community was built in 2014. According to Apartments.com, 4737 Kester Ave. rises three stories and is elevator-serviced. Units come in one-, two- and three-bedroom floor plans. Michael Monempour and David Saghian represented the seller, a private investor. The buyer was not disclosed.

July 14, 2023

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