Acquisitions

ACP Management Buys 89,389 SF South Mountain Crossing Shopping Center in Laveen, Arizona

by Amy Works November 10, 2023

LAVEEN, ARIZ. — Colliers has arranged the sale of South Mountain Crossing, a neighborhood shopping center located at 3510-3648 W. Southern Ave. and 5806-5950 S. 35th Ave. in Laveen. Santa Ana, Calif.-based ACP Management acquired the property from Fairfield, N.J.-based Lamar Cos. for an undisclosed price. Built in 2007, South Mountain Crossing features 89,389 square feet of retail space on 6.9 acres. The asset is part of a 200,000-square-foot community center that includes 15 businesses, medical facilities and a charter school. Seven tenants occupy the asset, including SkyZone Trampoline Park, Goodwill and Kids Empire. Mindy Korth and JK Jackson of Colliers in Arizona, in conjunction with El Warner and Caitlin Zirpolo of Colliers in Irvine, Calif., handled the transaction.

November 10, 2023

Acquisitions Colorado Industrial NAI Western

NAI Shames Makovsky Negotiates Acquisition of 34,782 SF Industrial Building in Denver

by Amy Works November 10, 2023

DENVER — NAI Shames Makovsky has arranged the purchase of an industrial property located at 6270 E. 50th Ave. in Denver. Albrook Partners acquired the asset from C.C.E. Real Estate LLC for $3.8 million. The property features 34,782 square feet of industrial space. Paul Cattin and Adam Hubschman of NAI Shames Makovsky represented the buyer in the deal.

November 10, 2023

Acquisitions Colorado Industrial Office Western

Marcus & Millichap Brokers $2.5M Sale of Industrial Property in Denver

by Amy Works November 10, 2023

DENVER — Marcus & Millichap has arranged the sale of a flex industrial building located at 1919 Federal Blvd. in Denver. A private investor sold the asset to an undisclosed buyer for $2.5 million. Situated on 0.4 acres, the 11,600-square-foot property features ample clear heights. Jake Klimas and Brandon Kramer of Marcus & Millichap represented the seller in the deal.

November 10, 2023

Acquisitions Multifamily Northeast Student Housing Vermont

CBRE Brokers Sale of 308-Bed Student Housing Community Near University of Vermont

by Taylor Williams November 10, 2023

WINOOSKI, VT. — CBRE has arranged the sale of Spinner Place, a 308-bed student housing community located near the University of Vermont in Winooski. The community offers shared amenities including a media room, fitness center and recreation room. The property also features ground-floor retail space that is leased to The Archives Bar, Champlain Nails, Asian Bistro and La Bella Skin Boutique. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, John Reed and Jack Reed of CBRE represented the undisclosed seller in the transaction. Property Income Advisors Inc. represented the undisclosed buyer. Mike Bryant and Brad Peters, also with CBRE, arranged acquisition financing on behalf of the buyer.

November 10, 2023

Acquisitions Illinois Midwest Multifamily Student Housing

JLL Brokers Sale of 481-Bed Student Housing Community in Normal, Illinois

by Kristin Harlow November 10, 2023

NORMAL, ILL. — JLL Capital Markets has brokered the sale of The Edge on Hovey, a 481-bed student housing community located adjacent to Illinois State University in Normal. The sales price was undisclosed. Built in 2004, the property features two-, three- and four-bedroom units averaging 1,470 square feet. The fully furnished units feature private walk-in closets, bed-bath parity and nine-foot ceilings. Amenities include a lobby, cyber lounge, fitness center, private study rooms, high-speed internet and controlled building access. Recently renovated, the community still presents the opportunity for value-add interior upgrades, according to JLL. The Edge also features a parking garage with 549 spaces and a 5,586-square-foot retail space. Scott Clifton, Teddy Leatherman, Kevin Kazlow, Jack Goldberger and Grace Picchiotti of JLL represented the seller, an entity of Blue Vista Capital Management. FPA Multifamily was the buyer.

November 10, 2023

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $10.2M Sale of Shopping Center in Streamwood, Illinois

by Kristin Harlow November 10, 2023

STREAMWOOD, ILL. — Marcus & Millichap has arranged the $10.2 million sale of Westview Center in Streamwood, a northwest suburb of Chicago. The 114,735-square-foot shopping center is fully occupied. Tenants include AutoZone, Dollar Tree, Oak Street Health, Chuck E. Cheese, American Freight and H&R Block. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Mark Ruble, Chris Lind and Brennan Clegg of Marcus & Millichap represented the buyer, a Midwest-based private investment group. The asset sold for 96 percent of the list price.

November 10, 2023

Acquisitions Connecticut Industrial Northeast

O,R&L Commercial Negotiates $1.6M Sale of Industrial Building in Cheshire, Connecticut

by Taylor Williams November 10, 2023

CHESHIRE, CONN. — Locally based brokerage firm O,R&L Commercial has negotiated the $1.6 million sale of a 25,320-square-foot industrial building in Cheshire, located roughly midway between Hartford and New Haven. The building is situated on a 2.3-acre site at 1187 Highland Ave. and was 88 percent leased at the time of sale. Richard Lee and Will Braun of O,R&L Commercial represented both the seller, Marshall Enterprises, in the transaction and procured the buyer, Dattco Inc.

November 10, 2023

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Arranges Sale of 358-Unit Ansley at Town Center Apartments Near Augusta

by John Nelson November 9, 2023

EVANS, GA. — Cushman & Wakefield has arranged the sale of Ansley at Town Center, a 358-unit apartment community in the Augusta suburb of Evans. The Shoptaw Group purchased the property from Spyglass Capital Partners for an undisclosed price. Taylor Bird, Nelson Abels, Laura Aylor and Jaime Slocumb of Cushman & Wakefield represented the seller in the transaction. Built in 2009 and 2012, Ansley at Town Center features a clubhouse with billiards and a coffee bar, business center, fitness center, saltwater pool and sundeck, pet play area, Luxer package locker room and grilling stations.

November 9, 2023

Acquisitions Louisiana Multifamily Southeast

Marcus & Millichap Brokers Sale of 200-Unit Olde Salem Village Apartments in Shreveport, Louisiana

by John Nelson November 9, 2023

SHREVEPORT, LA. — Marcus & Millichap has brokered the sale of Olde Salem Village, a 200-unit apartment community located at 6725 Buncombe Road in Shreveport. John Hamilton, Bryan Sisk and David Dorris of Marcus & Millichap represented the seller, Continental Foundation Inc., in the transaction. An entity doing business as Thara Properties LLC purchased the community for an undisclosed price. Built in 1984 on 14.5 acres, Olde Salem Village features a clubhouse, pool and a basketball/tennis court.

November 9, 2023

Acquisitions Healthcare Southeast Virginia

Laramar Group Acquires 35,406 SF Medical Office Building in Sterling, Virginia

by John Nelson November 9, 2023

STERLING, VA. — The Laramar Group has acquired Sterling Medical Plaza, a 35,406-square-foot medical office building located at 46440 Benedict Drive in Sterling, a suburb of Washington, D.C. The investment firm purchased the two-story property via Laramar Medical Properties Fund I for an undisclosed price. The seller was also not disclosed. Built in 1986 and renovated in 2021, Sterling Medical Plaza was 85 percent leased at the time of sale to tenants including Loudoun Medical Group, INOVA Health and Concentra.

November 9, 2023

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