WAUKEGAN, ILL. — Marcus & Millichap has negotiated the $2.7 million sale of a two-tenant retail property in the Chicago suburb of Waukegan. The 7,100-square-foot asset is home to Tropical Smoothie Café and Ivy Hall dispensary. The property at 992 S. Waukegan Road serves as an outlot to a casino and hotel that are currently under construction and slated to open in 2025. Both tenants’ leases feature 10 percent rental increases every five years. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not released.
TAMPA, FLA. — Berkadia has arranged $32.2 million in financing for the acquisition of 246 units at Palmera Pointe Apartments, a 361-unit rental condominium community located at 7417 Palmera Pointe Circle in Tampa. Axonic Properties was the borrower and previously acquired 36 units at the property. Mitch Sinberg, Brad Williamson, Matthew Robbins and Scott Wadler of Berkadia’s South Florida office secured the loan on behalf of the borrower. The five-year, non-recourse loan features $25 million of initial funding with an additional $7.2 million of funding for Axonic to execute its business plan.
WINTER PARK, FLA. — SRS Real Estate Partners has brokered the $7.7 million sale of a 29,987-square-foot single-tenant retail property located in Winter Park, a suburb of Orlando. Crunch Fitness occupies the property, which is located on 3.7 acres at 14150 W. Colonial Drive, on a 15-year triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based investment and development group, in the transaction. The buyer was a Florida-based private investor.
TOMBALL, TEXAS — Colliers has arranged the sale of Oak Bend Place, a 152-unit apartment complex in the northern Houston suburb of Tomball that was originally built in 1984. According to Apartments.com, the property offers two-bedroom units that range in size from 834 to 907 square feet and amenities such as a pool, pet play area and outdoor grilling and dining stations. Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers represented the seller, Alphil Investments, in the transaction. The buyer was not disclosed.
CYPRESS, TEXAS — Marcus & Millichap has brokered the sale of a 14,605-square-foot retail building in the northwestern Houston suburb of Cypress. The vacant building, which was most recently occupied by CVS, was originally constructed in 2002. James Bell and Watt Harrison of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.
CASTLE ROCK AND DENVER, COLO. — The Garrett Cos. has completed the sale of a two-property multifamily portfolio, totaling 434 apartments, to affiliates of Harbor Group International for $132.5 million. The portfolio includes The Prospector Modern Apartments at 3360 Esker Circle in Castle Rock and Ladora Modern Apartments at 18590 E. 61st Ave. in Denver. Prospector features 238 one-, two- and three-bedroom floorplans averaging 1,013 square feet, and Ladora offers 196 one-, two- and three-bedroom floorplans with an average apartment size of 1,024 square feet. Both assets were built in 2023 and are approaching lease up. Community amenities at the properties include resort-style pools, fitness centers, mail and package services, and pet parks and spas. Terrance Hunt, Shane Ozment, Andy Hellman and Justin Hunt of CBRE’s multifamily investment properties team in Denver represented the seller. Shawn Rosenthal, Jason Gaccione and Jake Salkovitz of CBRE’s New York office, along with Brady O’Donnell and Jill Haug of CBRE’s Denver office, arranged acquisition financing for the buyer.
GILBERT, ARIZ. — ViaWest Group has purchased a 428,427-square-foot industrial property in the Phoenix suburb of Gilbert for an undisclosed price. Situated on 26.9 acres, the campus features six buildings housing 11 tenants. At the time of sale, the property was 98 percent occupied. The properties feature 15-foot to 30-foot clear heights, 64 dock-high doors, 23 grade-level doors and 639 car parking spaces. The campus comprises a 108,212-square-foot building at 955 N. Fiesta Blvd., a 126,472-square-foot facility at 1171 and 1191 N. Fiesta Blvd., a 180,087-square-foot building at 2075 and 2135 W. Obispo Ave. and a 13,656-square-foot property at 2020 W. Guadalupe Road. Mark Detmer, Greer Oliver, Ryan Sitov and Connor Nebekey-Hay of JLL Capital Markets facilitated the transaction. The name of the seller was not released. Kevin MacKenzie, Jason Carlos and Jarrod Howard of JLL secured financing for the buyer. Steve Larsen of JLL is marketing the portfolio for lease.
LAS VEGAS — PBTK 95 has completed the disposition of a two-story office building in Las Vegas to a private buyer for $2.8 million. Travis Landes, Marc Magliarditi and Michael Hsu of CBRE represented the seller in the deal. Located at 6100 Elton Ave., the 18,000-square-foot building can accommodate a variety of layout configurations, allowing for an owner-user to occupy or a single- or multi-tenant build out. Additionally, the building offers 90 parking spaces with 38 covered, an outdoor courtyard and signage facing Interstate 95.
FRAMINGHAM, MASS. — Marcus & Millichap has brokered the $16.5 million sale of Rose Garden Apartments, a 72-unit multifamily complex located in the western Boston suburb of Framingham. The three-story building houses a mix of studio, one- and two-bedroom units, 21 of which were recently renovated. Evan Griffith, Tony Pepdjonovic and Jeremy Buckley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
BUCKLEY, WASH. — Marcus & Millichap has arranged the sale of Buckley Commercial Building and Yard, an industrial property in Buckley, approximately 25 miles east of Tacoma. A limited liability company sold the asset to an undisclosed buyer for $2.3 million, or nearly $220 per square foot. Located at 28515 WA-410, the property features 10,512 square feet of industrial space. Matthew Herman and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the transaction.