COLUMBIA, S.C. — Montecito Medical Real Estate has received a $31.2 million loan for the acquisition of a cancer treatment center located in Columbia. First Citizens Bank’s Healthcare Finance group, part of the CIT division, provided the financing. The facility is currently leased to South Carolina Oncology Associates (SCOA).
ROANOKE, VA. — Cushman & Wakefield | Thalhimer has brokered the sale of Oak Grove Plaza, a nearly 50,000-square-foot shopping center located at 2061 Electric Road in Roanoke. An entity doing business as Omma Management LLC purchased the property for $4.8 million. William Poe and Payal Shah of Cushman & Wakefield | Thalhimer represented the undisclosed seller in the transaction.
EASTAMPTON, N.J. — New York City-based development and investment firm Rockefeller Group has sold a 345,600-square-foot warehouse and distribution center in Eastampton, located east of Philadelphia, for $83 million. Building features include a clear height of 36 feet, 185-foot truck court depths, 54 dock doors, 384 car parking spaces, 96 trailer parking spaces and 4,000 square feet of office space. Glendale Warehouse & Distribution Corp. purchased the facility and will use it to store and distribute spices and other food products. Tom Monahan, Gerard Monahan, Stephen D’Amato, Larry Schiffenhaus, Lauren Hageman and Ana Lazarides of CBRE represented Rockefeller Group in the transaction. Chuck Fern of Cushman & Wakefield represented the buyer.
WESTBOROUGH, MASS. — Locally based investment firm Grossman Development Group has purchased Bay State Commons, a 261,672-square-foot shopping center in Westborough, a western suburb of Boston. Grocer Roche Bros. anchors the center, and other tenants include Boston Interiors, Reliant Medical, Boston Ski & Tennis, Ted’s Montana Grill and Panera Bread. The new ownership plans to upgrade the property’s landscaping, signage and sidewalks. The seller and sales price were not disclosed.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $8.6 million sale of The St. Ann’s Portfolio, a collection of six multifamily buildings in The Bronx. The buildings total 82 residential units and four commercial spaces and are located in the Mott Haven neighborhood. Heritage Affordable Communities purchased the portfolio from Castellan Real Estate Partners. Victor Sozio, Shimon Shkury, Jason Gold and Daniel Mahfar of Ariel Property Advisors brokered the deal.
WOODBURY, N.Y. — Marcus & Millichap has brokered the $11.3 million sale of a 4,875-square-foot retail property in the Long Island community of Woodbury that is net leased to Chase Bank. The newly constructed building is located at 7920 Jericho Turnpike. Alan Lipsky and Barry Wolfe of Marcus & Millichap represented the seller, an entity doing business as 7940 Woodbury Partners LLC, in the transaction. The buyer was KIT Realty Inc. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
EUGENE, ORE. — Marcus & Millichap has arranged the sale of Ducks Village, a 650-bed student housing property located near the University of Oregon campus in Eugene. The 22-building community offers 230 units. Shared amenities include a renovated clubhouse, resort-style swimming pool, fire pits, a fitness center, basketball courts and a tanning booth. Joel Dumes and Patrick Mullowney of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the transaction.
VENTURA, CALIF. — Berkadia has brokered the sale of YOLO West Apartments, a multifamily community located at 11114 Darling Road in Ventura. California-based NUWI Capital sold the asset to California-based Universe Holdings for $20.3 million, or $452,222 per unit. Adrienne Barr of Berkadia Los Angeles represented the seller in the deal. Built 2019, YOLO West Apartments features 45 one- and two-bedroom floor plans, including four live-work units, with in-unit washers/dryers and private balconies. Community amenities include a fitness center, a picnic and game area, and a clubhouse.
CHICAGO — Kiser Group has brokered a condo deconversion sale in Chicago’s Lakeview neighborhood for $18.3 million. The property at 3825 N. Pine Grove features 94 units and 54 parking spaces. Andy Friedman and Jake Parker of Kiser brokered the transaction. The seller was 3825 N. Pine Grove Condominium Association. According to Parker, 90 percent of the units were investor-owned rental units while 10 percent were owner-occupied. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a property if 75 percent or more are in agreement. The threshold is 85 percent for the City of Chicago. Sellers then have the option to either move out of their units or lease them back from the new owner.
CINCINNATI — Montecito Medical has acquired two orthopedic medical office buildings in Cincinnati for an undisclosed price. The properties, which total more than 130,000 square feet, are fully leased to Beacon Orthopedics. One of the buildings is in Cincinnati while the other is in the suburb of Sharonville. Each property includes an ambulatory surgery center. Steve Timmel, Travis Likes, Jeff Johnston, Will Roberts and Lee Asher of CBRE represented the undisclosed seller. Beacon Orthopedics, which operates more than 20 locations in Ohio, Kentucky and Indiana, provides a full range of services, including clinical orthopedics, orthopedic surgery, physical therapy and imaging.
