ST. CHARLES, ILL. — Cushman & Wakefield has brokered the sale of River Glen of St. Charles, located within the former Delnor Hospital, which was built in St. Charles in 1939. Located approximately 35 miles west of Chicago, the senior living community features 106 units of independent living, assisted living and memory care. The original hospital building has been converted into a modern, well-amenitized campus. Bridge Investment Group sold the asset to Citrine Senior Communities, a joint venture between affiliates of Citrine Investment Group and Jaybird Capital, for $20 million. Jaybird Senior Living will take over operations. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Tim Hosmer and Jack Griffin arranged the transaction.
HAMMOND, IND. — Marcus & Millichap has arranged the $4.6 million sale of a 14,158-square-foot retail center in Hammond, a city in Northwest Indiana. Built in 2017, the property is located at 1001 5th Ave. and is home to retail and medical tenants, including American Renal Associates. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the seller, a developer based in Hobart, Ind. The property sold to a 1031 exchange investor.
HOFFMAN ESTATES, ILL. — Belle Tire Distributors has purchased a 1.7-acre lot in the Chicago suburb of Hoffman Estates for $1 million. Rick Scardino of Lee & Associates represented the seller, Prairie Point Center Development LLC c/o Conor Commercial. Dave Chopp of DRC Realty represented Belle Tire.
NEWPORT NEWS, VA. — Cushman & Wakefield has brokered the $25 million sale of Hickory Point, a 175-unit, townhome-style rental community located at 399 Hickory Point Blvd. in Newport News. Jorge Rosa and T.J. Liberto of Cushman & Wakefield represented the seller, AION Partners, in the transaction. The buyer was not disclosed. Hickory Point comprises two- and three-bedroom apartments with private entrances, modern kitchen and bathrooms, built-in microwaves and washer and dryer connections. Amenities include a swimming pool and cabana.
NEW PORT RICHEY, FLA. — Franklin Street has arranged the sale of a 104,201-square-foot, single-tenant retail property located in New Port Richey, roughly 40 miles northwest of Tampa. Built in 1987 and situated within the Pasco Square shopping center, the building is fully occupied by retailer Bealls. Grant Equities LLC acquired the property for $7.2 million. Bryan Belk, John Tennant and Zack McNamara of Franklin Street represented the seller, an affiliate of Vanguard Associates Inc., in the transaction. McNamara previously negotiated a new, long-term lease with Bealls on behalf of the landlord, and Michael Conlon of Franklin Street Insurance Services secured the property, casualty and flood insurance policies on behalf of the buyer.
PANAMA CITY BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $1.5 million sale of a retail property in Panama City Beach triple-net leased to Green Dragon, a chain of retail cannabis dispensaries in Florida and Colorado. The 5,164-square-foot store is located at 917 Harrison Ave. and has a new 10-year lease in place. Patrick Nutt, William Wamble and Daniel Becker of SRS represented the seller, a Florida-based private investor, as well as the buyer, a private 1031 exchange buyer, in the transaction. Both parties requested anonymity. The sale of the Panama City Beach Green Dragon is the 17th transaction of a cannabis dispensary that SRS has brokered in the state of Florida, for a total of just under $50 million.
HOUSTON — Berkadia has arranged the sale of Metro Greenway, a 309-unit apartment community in Houston’s Greenway/Upper Kirby neighborhood. Developed in 2008 by The Dinerstein Cos., Metro Greenway is a four-story building that sits on a two-level parking garage. Units come in one- and two-bedroom floor plans and range in size from 709 to 1,272 square feet. Amenities include a pool, fitness center, outdoor kitchen, pet park, coffee bar and a resident lounge. Todd Marix, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel and Kyle Whitney of Berkadia represented the seller, Denver-based Simpson Housing, in the transaction. Dallas-based investment firm Westdale acquired the asset for an undisclosed price.
HOUSTON — An affiliate of locally based development and investment firm Adkisson Group has acquired a 19,800-square-foot office building in northwest Houston. According to LoopNet Inc., the property at 4809 Westway Park Blvd was built in 2005 and rises two stories. Travis Land of Partners Real Estate represented the buyer, which also plans to occupy the building, in the transaction. Jude Filippone of Traswestern represented the undisclosed seller.
KATY, TEXAS — Locally based investment firm The Vista Cos. has sold Vista Grand Reserve, a 12,000-square-foot medical office building in the western Houston suburb of Katy. According to LoopNet Inc., the building at 23543 Kingsland Blvd. was constructed in 2017. James Bell of Marcus & Millichap represented the seller in the transaction. Coldwell Banker Commercial/Lewis Realty Group represented the buyer, Santos Family Enterprises Ltd.
WEEHAWKEN, N.J. — JLL has arranged the sale of a 372-room, Marriott-branded hotel portfolio in the Northern New Jersey community of Weehawken. The portfolio comprises the 208-key EnVue Autograph Collection Port Imperial and the 164-key Residence Inn Port Imperial. Both hotels opened within the last five years and are situated along the Hudson River, offering guests ferry access to Manhattan. JLL represented the seller, Veris Residential, in the transaction. Navika Capital Group purchased the portfolio for an undisclosed price.