PHOENIX — ABI Multifamily has brokered the $2.1 million sale of a multifamily community located at 614-616 N.10th Ave. in downtown Phoenix. Built in 1936 and 1954 and renovated in 2023, the property features eight apartments in one- and two-bedroom layouts. Dallin Hammond, Mitchell Drake, Carson Griesemer, Tom Palestina, Andrew Arambula and Bryce Neagle of ABI represented the Arizona-based seller in the transaction. Both the buyer and seller were undisclosed.
LAKE BLUFF, ILL. — DarwinPW Realty/CORFAC International has brokered the sale of an industrial property located at 29870 N. Skokie Highway in Lake Bluff, a northern suburb of Chicago. The property features 26.8 acres of land and three buildings totaling 67,879 square feet. The space is home to functional industrial buildings, trailer parking and industrial outdoor storage. The three buildings are fully leased to 11 tenants. While much of the land is not usable for commercial purposes because of its native wetlands, the seven usable acres have been developed with outdoor storage, including a recently built paved and secure trailer lot. Jake Ehrenberg, Joel Mackintosh and Mike O’Malley of Perry Hill Ventures were the sellers. Matt Lewandowski of DarwinPW represented the buyer, a group of investors.
CENTENNIAL, COLO. — NavPoint Real Estate Group has negotiated the sale of a flex building, located at 7006 S. Alton Way in the Denver suburb of Centennial. Bill & Paulette Weinberger LLC sold the asset to J&K Capital LLC for $2.2 million. The asset, Building B, is a single-story property offering 9,850 square feet of flex space. Matt Kuble and Jordan Burgess of NavPoint Real Estate Group represented the seller, while Trent Rice of Pinnacle Real Estate Advisors represented the buyer in the deal.
SPRINGFIELD, ILL. — Marcus & Millichap has negotiated the $2.4 million sale of a 4,480-square-foot property occupied by IHOP in Springfield. The building is situated at 2600 Sunrise Drive just north of Capital City Shopping Center, which is home to AMC, Big Lots, Panera and McDonald’s. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Steven Weinstock of Marcus & Millichap assisted in closing the transaction, including a triple-net lease with a franchisee and 10 percent rental increases every five years.
CINCINNATI — CBRE has arranged the sale of a portfolio comprising six medical office building (MOB) properties in Northern Kentucky. Totaling 145,308 square feet, the properties are located in Florence, Fort Mitchell, Crittenden, Walton, Alexandria and Butler. Kentucky-based Zalla Cos. sold the portfolio to Chicago-based Remedy Medical Properties for an undisclosed price. Steve Timmel, Will Roberts, Chris Prosser and Travis Likes of CBRE’s Cincinnati office represented the seller in the transaction. St. Elizabeth Physicians, a health system based in Erlanger, Ky., fully occupies the portfolio.
HOUSTON — JLL has arranged the sale of Northwest Logistics Center, a 411,460-square-foot industrial facility in northwest Houston. The cross-dock building was constructed in 2018 and features 138 dock doors and 32-foot clear heights. Trent Agnew, Charlie Strauss, Parker McCormack, Tom Weber, Lance Young, Pauli Kerr, Matthew Barge and Brooke Petzold of JLL represented the undisclosed seller in the transaction and procured the buyer, New York City-based Sterling Investors.
FLORHAM PARK, N.J. — A joint venture between Vision Properties and The Birch Group has refinanced 180 Park Avenue, a 228,000-square-foot office building in Florham Park, about 30 miles west of New York City. The name of the life insurance company that provided the loan, as well as the amount, were not disclosed. Built in 2001, The Class A building is situated on 26.6 acres within the 268-acre Green at Florham Park master-planned development that is also home to Summit Medical Group, MD Anderson and the New York Jets. The joint venture acquired the building in October 2020.
MARLBORO, N.J. — JLL has negotiated the $15.9 million sale of Brook’s Edge Plaza, a 70,274-square-foot shopping center in the Northern New Jersey community of Marlboro. Asian Food Market anchors the center, which was built in 2003. At the time of sale, Brook’s Edge Plaza was 98 percent leased to a tenant roster that includes four in-line food-and-beverage users, as well as a nail salon, drycleaner and a barbershop. J.B. Bruno, Kevin O’Hearn, Jose Cruz and Shaelyn Nuckel of JLL represented the seller, First Montgomery Group, in the transaction and procured the undisclosed buyer.
WATERLOO, N.Y. — Marcus & Millichap has brokered the sale of Finger Lakes Self Storage, a 354-unit facility in the upstate New York community of Waterloo. Built in 2014, the facility consists of 34 climate-controlled units, 296 non-climate-controlled units and 24 covered parking spaces for a total of 58,250 net rentable square feet. Nathan Coe, Brett Hatcher, Gabriel Coe and Luke Dawley of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
COON RAPIDS, MINN. — Senior Living Investment Brokerage (SLIB) has brokered the sale of The Homestead at Coon Rapids, a 53-unit assisted living and memory care community in the northern Minneapolis suburb of Coon Rapids. The sales price was undisclosed. Built in 1999, the property features 29 assisted living units and 24 memory care units. The building totals 31,195 square feet on roughly three acres. Jason Punzel, Brad Clousing and Jake Anderson of SLIB brokered the sale. The seller was a large, national nonprofit looking to condense its portfolio to focus on core communities. The buyer was an in-state owner partnering with an in-state operator looking to grow its footprint in Minnesota.
