NEW YORK CITY — JLL has brokered the $6.1 million sale of a 10-unit multifamily property located at 323 W. 89th St. in Manhattan’s West End Historic District. The unit mix consists of one studio, six one-bedroom apartments and three duplex apartments, as well as a basement office. A family office sold the property to a private investor, with both parties involved in the deal requesting anonymity. Hall Oster and Teddy Galligan of JLL brokered the deal.
NEW YORK CITY — MCR, the nation’s third-largest hotel owner-operator, has purchased three hotels in Central Florida totaling 384 rooms. The New York City-based investor acquired the assets, which include 169-room Hyatt Place Orlando/Lake Buena Vista in Orlando, the 111-room Hampton Inn Daytona Shores in Daytona Beach Shores and the 104-room Courtyard Marriott DeLand Historic Downtown in DeLand, for an undisclosed price. The seller was also not disclosed. All three hotels include fitness centers, pools and complimentary Wi-Fi. The acquisition brings MCR’s Florida portfolio to 13 hotels.
HAMPTON, VA. — Berkadia has arranged the $31 million sale of Carson Square, a 292-unit apartment community located at 1587 Briarfield Road in Hampton, a principal city in Virginia’s Hampton Roads region. A New Jersey-based entity doing business as Carson Square Assoc LLC purchased the garden-style community from Virginia-based Seminole Trail Properties. David Hudgins of Berkadia’s Norfolk office represented the seller in the transaction. Carson Square was built in 1971 and features renovated one-, two-, and three-bedroom apartments.
DURHAM, N.C. — CBRE has brokered the $20.7 million sale of Duke Medical Plaza, a 60,192-square-foot, Class A medical office building located at 4709 Creekstone Drive in Durham. Lee Asher, Zack Holderman, Jordan Selbiger, Trent Jemmett and Cole Reethof of CBRE’s U.S. Healthcare & Life Sciences Capital Markets practice represented the seller, Highwoods Properties, in the transaction. Ben Kilgore of CBRE | Raleigh and Patrick Gildea and Matt Smith of CBRE’s Charlotte office assisted in representing Highwoods. The buyer was not disclosed. Duke Medical Plaza was fully leased at the time of sale to Duke Health Integrated Practice, a subsidiary of Duke University Health System that recently signed a long-term lease extension. The facility serves as a full-service pediatric outpatient clinic offering 14 clinical pediatric services, including neurology, cardiology, endocrinology, gastroenterology, adolescent gynecology, oncology, rheumatology, nephrology, PT/OT/ST, pulmonary and onsite clinical laboratory and imaging.
DALLAS AND TAMPA, FLA. — SRS Real Estate Partners has expanded its Florida presence with the acquisition of full-service, Tampa-based firm Meridian Retail Group, which provides advisory services to retail, restaurant and entertainment clients. Meridian co-founders John Fahey and Tyler McRae will join SRS as senior vice presidents and market leaders, heading the Tampa office in conjunction with John Artope, executive vice president and managing principal of SRS. Fahey and McRae have 20 and 15 years of experience, respectively. Grant Burt, Caroline Connelly and Jacob Rasnick of Meridian will also join SRS, with a focus on tenant representation and leasing for retail clients.
PRINCETON, IND. — Cushman & Wakefield has brokered the sale of Circle Point Villas in Princeton, a city in Southwest Indiana. The sales price was undisclosed. The build-to-rent (BTR) community features 125 homes that average 1,220 square feet. Construction of the 19-acre development concluded this year. George Tikijian, Hannah Ott and Cameron Benz of Cushman & Wakefield represented the seller, Reinbrecht Homes. The asset sold to a joint venture between JMF Capital and Yellowstone Property Group. The deal marks the first investment sale of a purpose-built BTR community in Indiana, according to Cushman & Wakefield.
PROSPECT HEIGHTS, ILL. — Conor Commercial Real Estate, with its partner Globe Corp., has sold Executive Commerce Center in Prospect Heights, a northwest suburb of Chicago. The sales price was undisclosed. The 151,677-square-foot industrial building was developed in 2020 and fully leased in 2021. Syncreon, a third-party logistics provider for Samsung, leased the west half of the building for warehouse and distribution space. Plitek, a local manufacturer of precision die cut components and converted materials, leased the east half for its company headquarters and manufacturing facility. The building features a clear height of 32 feet, 35 truck docks, two drive-in doors and a 60-foot speed bay. Ed Halaburt and John Huguenard of JLL represented Conor, while Mike Sedjo, Jack Brennan and Ben Dickey of CBRE served as Conor’s leasing brokers. McShane Construction Co. and Ware Malcomb made up the design-build team. Wintrust provided construction financing.
COLUMBUS AND MAINEVILLE, OHIO — The Dowd Cos. has arranged the sale-leaseback of two Children of America schools in Ohio for $6.9 million. The properties at 8360 N. High St. in Columbus and 8261 Rivers Bend Drive in Mainesville total 21,949 square feet. Children of America is a childcare operator headquartered in Delray Beach, Fla. The company maintains more than 65 locations in 15 states with 13 new schools in development. John Dowd and Theresa Johnson of Dowd Cos. represented Children of America in the sale. The all-cash buyer completed a 1031 exchange. The transaction represented a cap rate of 7 percent.
BELLEVUE, WASH. — A Intracorp and equity partner HAL Real Estate have purchased a site that houses a vacant, 60,423-square-foot office building in Bellevue for $18 million. The site is located at 3190 160th Ave. SE in the Eastgate neighborhood. The building was constructed in 1982 and was previously leased to Washington Department of Ecology for several decades. Official plans for the site have not yet been announced, but the buyer may execute shorter-term leases at the existing office building until a redevelopment strategy is finalized. Pat Mutzel of Cushman & Wakefield’s Private Capital Group, in collaboration with Jeffrey Cole, Jeff Chiate, Bryce Aberg, Mike Adey, Nico Napolitano and Zach Harman of the firm’s West Coast Capital Markets Group, represented the seller, a private, high-net-worth investment group. Mutzel also advised the sale of the property in December 2019 for a price of $16.3 million.
SAN DIEGO — Cabrillo Credit Union has acquired a 20,060-square-foot office building in the Kearny Mesa submarket of San Diego for $7.9 million. The building is located at 3710 Ruffin Road. It features solar panels, open ceilings, creative office space, private offices, conference rooms, and employee breakrooms and restrooms on each floor. The property was renovated in 2019. CBRE’s Phil Linton and Nick Bonner represented the seller, the Council of Community Clinics, which will lease back a quarter of the building.