CONROE, TEXAS — Locally based brokerage firm SVN | J. Beard Real Estate – Greater Houston has arranged the sale of an 8,320-square-foot office building in Conroe, about 40 miles north of Houston. The property was built in 1973. Linda Crumley of SVN | J. Beard represented the seller in the transaction. Brittany Jameson, also with SVN | J. Beard, represented the buyer, Milstead Properties LLC.
NEW YORK CITY — Quadrum Global, the parent company of boutique hospitality brand Arlo Hotels, has acquired a 147-room property in Brooklyn’s Williamsburg area that was formerly operated as The Williamsburg Hotel. Upon rebranding, the hotel will be the fourth in New York City to operate under the Arlo brand. The eight-story hotel includes eight suites, a 10,000-square-foot rooftop pool and lounge and additional onsite food-and-beverage options. The opening of the rebranded hotel is slated for September.
WOOLWICH TOWNSHIP, N.J. — Colliers has brokered the sale of a 106,528-square-foot industrial property in Woolwich Township, located in the southern part of the Garden State. Regional investment firm Faropoint sold the asset to an affiliate of DH Property Holdings for an undisclosed price. Marc Isdaner and Ian Richman of Colliers brokered the deal. At the time of sale, the property was fully leased to Diversified Industries, a provider of foam and adhesive products.
DANBURY, CONN. — New York-based brokerage firm Jacobson Properties has negotiated the $15.2 million sale of Western Connecticut Medical Center South, a 39,566-square-foot healthcare property located in Fairfield County. An affiliate of Connecticut Eye Consultants leases the entire medical office building. An entity doing business as Western Connecticut Medical Center South LLP sold the asset to an undisclosed institutional investment firm. Lisa Menin of Jacobson Properties brokered the deal.
SEATTLE — Senior Living Investment Brokerage (SLIB), a Chicago-based firm, has arranged the sale of three communities in the Pacific Northwest. The facilities offer a combined 93 units and 105 beds, and were built between 1991 and 1995. The buyer is a private owner-operator group out of Texas. The seller, price, names and locations were not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Matt Alley of SLIB handled the transaction.
YOUNGSTOWN, OHIO — Marcus & Millichap has brokered the sale of Boardman Center Plaza in Youngstown, a city in Northeast Ohio. The sales price was undisclosed. The 136,500-square-foot shopping center was 52 percent leased at the time of sale. Tenants include Guitar Center, Legends Food + Drink, FastSigns, Factory Boot Outlet and Harbor Pet Center. Included in the sale was a two-tenant building leased to Five Guys and Jimmy John’s. the property is located directly across the street from Southern Park Mall. Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Canadian private investor, and procured the buyer, a Texas-based private investor.
DULUTH, GA. — Cushman & Wakefield has brokered the $91 million sale of The Reserve at Sugarloaf, a multifamily community located at 2605 Meadow Church Road in Duluth, roughly 27 miles northeast of Atlanta. Built in 2002, the property comprises 333 units averaging 1,225 square feet in size. Amenities at the community include an indoor-outdoor fitness center, pool, pet park, internet café and car care center. Robert Stickel, Alex Brown, Ashlyn Warren and Wesley Lacefield of Cushman & Wakefield arranged the transaction on behalf of the seller, an institutional client of New York Life Real Estate Investors. Olen Properties acquired the asset.
REX, GA. — EverWest Real Estate Investors has purchased an industrial property located at 9485 Highway 42 North in Rex, roughly 20 miles outside Atlanta. InLight was the developer and seller. Situated on 21.1 acres, the development features two recently completed speculative distribution buildings totaling 268,400 square feet. The buildings span 130,000 and 138,400 square feet, respectively, and feature 32-foot clear heights, LED lighting, ESFR sprinklers, wide columns and 72 dock and four drive-in doors. Britton Burdette, Dennis Mitchell, Matt Wirth, Mitchell Townsend and Jim Freeman of JLL arranged the sale.
CHARLOTTE, N.C. — Northpond Partners has acquired Chadbourn Mill, an adaptive reuse project underway at a 1930s-era textile mill located within Charlotte’s Mill District. Northpond purchased the property from Federal Capital Partners (FCP) for $12.5 million, with plans to develop retail and restaurant space. Renovations will include the addition of two 7,000-square-foot patios and the installation of garage doors on the 18,000 square feet of ground-floor retail space at the property’s main building. Plans also include the addition of a lawn adjacent to the secondary, 2,100-square-foot retail building. The corporate headquarters for software developer Ekos will continue to occupy the second floor of the main building. Southwick Architecture + Interiors will serve as architect, and White Point Partners remains a partner on the development. Construction is expected to be complete in 2024. Stream Realty Partners arranged the sale on behalf of FCP and White Point.
HOUSTON — CareTrust REIT Inc. (NYSE: CTRE) has acquired a 125-bed skilled nursing facility located in the greater Houston area. The specific name and location of the property were not disclosed. An affiliate of Texas-based Evergreen Health Group will operate the community after entering into a 15-year, triple-net lease with CareTrust that includes two five-year extension options and annual CPI-based (Consumer Price Index) rent escalators. The seller was also not disclosed.