WESTPORT, CONN. — Matthews Real Estate Investment Services, a California-based brokerage firm, has negotiated the $10.6 million sale of a 17,358-square-foot mixed-use property in the coastal Connecticut city of Westport. The property consists of an 11,572-square-foot retail space leased to Urban Outfitters and the historic Sherwood House, a 5,786-square-foot building featuring a restaurant and office space. Joanna Manfro of Matthews represented the undisclosed seller in the transaction. Gregory Kim of Sequoia Property Group represented the buyer, a New York City-based 1031 exchange investor.
NEW YORK CITY — Marcus & Millichap has brokered the $8.2 million sale of a 10-unit apartment building in Brooklyn. The five-story building at 29 Willow St. is located in the Brooklyn Heights area and was originally constructed in 1900. Shaun Riney and Michael Salvatico of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors who requested anonymity, in the transaction.
LA CROSSE, WIS. — Marcus & Millichap has arranged the sale of a 107-room Home2 Suites by Hilton hotel in La Crosse, a city in southwest Wisconsin on the Mississippi River. The sales price was undisclosed. Built in 2016, the four-story property features an indoor pool, business center and fitness center. Ebrahim Valliani, Michael Klar and Dan Danielak of Marcus & Millichap represented the seller, while Valliani and Klar procured the buyer. Both the buyer and seller were regional hotel ownership groups. Chris Gomes and Allan Miller of Marcus & Millichap provided additional support for the transaction, and Todd Lindblom, broker of record in Wisconsin, assisted in closing the sale.
LOS ANGELES — The Mogharebi Group (TMG) has brokered the sale of Pinetree Terrace Apartments, a multifamily property located at 7940 Reseda Blvd. in Reseda, a neighborhood in the San Fernando Valley area of Los Angeles. GLS Building Corp. sold the asset to Foundation for Affordable Housing for $17.6 million. The buyer plans to transform the 58-unit property into long-term affordable housing. Built in 1978, Pinetree Terrace features a mix of one-, two- and three-bedroom floor plans, ranging from 900 square feet to 1,263 square feet, spread across five two-story residential buildings. Community amenities include a pool and spa, fitness center, laundry room, leasing office and subterranean parking. At the time of sale, the property was 100 percent occupied. Otto Ozen and Brian Nakamura of TMG represented the seller in the deal.
PHOENIX — JLL has arranged the $12.6 million sale of Corona Del Sol, a garden-style apartment property located at 27 E. Corona Ave. in Phoenix. A private high-net-worth seller sold the asset to KDF Communities for $12.6 million. Built in 1985, Corona Del Sol features 64 apartments, with an average size of 880 square feet. All units offer classic finishes and offer the potential for future value-add enhancements. At the time of sale, the property was 97 percent leased. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of JLL Capital Markets represented the seller and procured the buyer in the deal.
SAN JOSE, CALIF. — Marcus & Millichap has facilitated the purchase of a 1.1-acre ground lease at 3155 Stevens Creek in San Jose. The property sold for $10 million in an off-market transaction. The land is encumbered by a long-term lease to Lincoln Auto Dealership. The buyer is the tenant that owned the leasehold improvements on the property. Yuri Sergunin and J.J. Taughinbaugh of Marcus & Millichap represented the buyer in the deal. The seller was not disclosed.
TAMPA, FLA. — Multifamily developer ZOM Living has sold Azola South Tampa, a community located at 7701 Interbay Blvd. in Tampa. Miami-based multifamily investment firm Momentum Real Estate Partners acquired the property for $64.3 million. Situated on nine acres, the community comprises 214 apartments and townhomes. Amenities at the property include a 6,000-square-foot clubhouse with a lounge, coworking areas, kitchenette, game room and fitness center, as well as a swimming pool and a pavilion with seating and a summer kitchen and grilling area.
MIDWAY, GA. — JLL has negotiated the sale of Building D at Tradeport East, a 647,496-square-foot industrial facility in Midway, roughly 35 miles outside Savannah. Home textiles producer Town & Country Living fully occupies the facility, which was built in 2022. BlueScope Properties Group sold the building to SkyREM for an undisclosed price. Britton Burdette, Dennis Mitchell, Sean Devaney and Jim Freeman of JLL represented the seller in the transaction. Located at 313 Tradeport East Blvd., the property features a cross-dock configuration with 190-foot truck courts, 36-foot clear heights, 60-foot speed bays, ESFR sprinklers, LED lights, 2,822 square feet of office space, 144 dock-high doors, four drive-in doors and parking for 177 trucks and 327 cars.
CORDOVA, TENN. — The Shopping Center Group (TSCG) has brokered the sale of Market at Cordova Shopping Center, a 98,466-square-foot retail center located at 1800 N. Germantown Parkway in Cordova, roughly 20 miles east of Memphis. N&L Holdings acquired the property for an undisclosed price. John Reed and Hurston Reed of TSCG represented the undisclosed sellers in the transaction, and Jon Isbell of TSCG represented N&L Holdings. Anchor tenant The Life Church will vacate the center, opening up space that the new owner plans to populate with an Asian supermarket, food hall and a community gathering spot dubbed Grand Super Market, which will occupy the 55,000-square-foot anchor space.
WINSTON-SALEM, N.C. — Goodegg Investments has acquired Crowne Club Apartments, a 250-unit multifamily community located in Winston-Salem. Built in 1995, the property is situated near the Atrium Health Wake Forest Baptist Medical Center. The buyer purchased the property through its Goodegg Wealth Fund II and Goodegg Growth Fund III. “Our investors love strong value-add assets like this one,” says Julie Lam, CEO of Goodegg. The seller and sales price were not disclosed. According to Apartments.com, Crowne Club features one-, two- and three-bedroom apartments ranging in size from 850 to 1,400 square feet. Amenities include a swimming pool, fitness center, playground and a clubhouse.