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Acquisitions

AcquisitionsIllinoisMidwestMultifamily

Coldwell Banker Commercial Realty Negotiates Sale of 60-Unit Apartment Building Under Construction in Chicago

by Kristin Harlow

CHICAGO — Coldwell Banker Commercial Realty has negotiated the sale of a 60-unit apartment building under construction in Chicago’s Lincoln Square neighborhood. The sales price was undisclosed, but the list price was $4 million. The property at 5035 N. Lincoln Ave. will comprise 80 percent market-rate units and 20 percent affordable housing. Choudhry Muzaffar of Coldwell Banker brokered the sale. The buyer, TRIETH Development, intends to complete construction and add additional units. The development had been stalled for four years and went into receivership.

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AcquisitionsData CentersDevelopmentSoutheastVirginia

Greysteel Arranges Sale of 85-Acre Site in Culpepper, Virginia for Future Data Center Campus

by John Nelson

CULPEPPER, VA. — Greysteel has arranged the sale of an 85-acre site in Culpepper, a city in Northern Virginia that sits about 70 miles outside of Washington, D.C. The buyer is DataBank, a data center development firm that plans to develop a 1.4 million-square-foot data center campus on the site. The development will include up to three two-story data centers and an onsite substation. The buyer recently purchased 95 acres in the Atlanta market and 34 acres in New York. Zach Benlemlih of Greysteel’s Mid-Atlantic team represented the land seller and DataBank in the transaction. The construction timeline for the project was not disclosed.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

Northmarq Arranges $107M Sale of Alta Filament Apartments in Charlotte

by John Nelson

CHARLOTTE, N.C. — Northmarq has arranged the $107 million sale of Alta Filament, a 352-unit luxury apartment community located at 525 E. 21st St. in Charlotte. The newly built property is situated in the city’s Mill District neighborhood near Optimist Hall food hall and the Lynx Blue Line Light Rail. Allan Lynch, Caylor Mark, Andrea Howard, John Currin, Jeff Glenn and Austin Jackson of Northmarq represented the seller, Wood Partners, in the transaction. The buyer was Mid-America Apartment Communities. Amenities at Alta Filament include a community clubhouse, conference room, grilling areas and fire pits, a 24/7 fitness club with a rollup door to an outdoor lawn, swimming pool, sundeck trellis, pet spa and wash and a package delivery service. The community also features two oversized courtyards, a podcast/content creator studio and 10 private offices rentable by the month.

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AcquisitionsMultifamilySoutheastStudent HousingTennessee

Capstone Real Estate Sells Former Student Housing Community in Murfreesboro, Tennessee

by John Nelson

MURFREESBORO, TENN. — Capstone Real Estate Investment has sold Landmark Apartments, a 264-unit community located near the Middle Tennessee State University campus in Murfreesboro. The property was acquired as a student housing project by the company in 2020 and underwent significant renovations, including the transformation of the community into traditional multifamily. Landmark Apartments offers one-, two- and three-bedroom units. The buyer in the transaction was not disclosed.

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AcquisitionsMultifamilyTexas

Greysteel Arranges Sale of 16-Unit University Village Apartments in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Greysteel has arranged the sale of University Village, a 16-unit apartment complex that is located less than a block from Texas Christian University in Fort Worth. According to Apartments.com, the property was built in 1959 and offers one- and two-bedroom units. Andrew Mueller of Greysteel represented the buyer and seller, both of which requested anonymity, in the transaction.

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AcquisitionsRestaurantRetailTexas

STRIVE Negotiates Sale of 10,299 SF Restaurant Building in Katy, Texas

by Taylor Williams

KATY, TEXAS — Dallas-based brokerage firm STRIVE has negotiated the sale of a 10,299-square-foot retail building in Katy, a western suburb of Houston, that is leased to Mexican restaurant chain Uncle Julio’s. The building was originally constructed in 2015. Jackson Brewer and Jake Dutson of STRIVE represented the seller and procured the buyer, both of which were Houston-area investors that requested anonymity, in the transaction.

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AcquisitionsIndustrialNew JerseyNortheast

Newmark Brokers Sale of 404,713 SF Industrial Portfolio in Northern New Jersey

by Taylor Williams

CARTERET AND WEST CALDWELL, N.J. — Newmark has brokered the sale of a portfolio of five newly constructed industrial buildings totaling 404,713 square feet in Northern New Jersey. Three of the buildings are located in Carteret, and the other two are in West Caldwell. The buildings sit on a combined 28.4 acres, range in size from 50,802 to 134,453 square feet and feature clear heights of 32 to 36 feet and an aggregate parking ratio of 1.1 spaces per 1,000 square feet. Kevin Welsh, Brian Schulz, Jack Fraker and Dustin Volz of Newmark brokered the deal. The buyer and seller were not disclosed. The portfolio was fully leased at the time of sale.

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AcquisitionsNortheastPennsylvaniaRetail

Matthews Arranges $5.2M Sale of Retail Strip Center in Philadelphia

by Taylor Williams

PHILADELPHIA — California-based brokerage firm Matthews Real Estate Investment Services has arranged the $5.2 million sale of a 10,640-square-foot retail strip center in Philadelphia’s Kensington area. Built on two acres in 2015, the center was fully leased at the time of sale to Rise Dispensary and Fine Wine & Good Spirits. Alexander Machado, Daniel Gonzalez, Robert Goldberg and Ben Snyder of Matthews brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsMultifamilyNew YorkNortheast

Barberry Rose Sells Brooklyn Multifamily Portfolio for $5M

by Taylor Williams

NEW YORK CITY — New York-based investment firm Barberry Rose Management has sold a portfolio of three multifamily buildings totaling 49 units in Brooklyn’s Crown Heights neighborhood. The sales price was $5 million. The three contiguous, four-story buildings were all constructed in 1912. Ben Khakshoor, Alex Fuchs and Aaron Jungreis of locally based brokerage firm Rosewood Realty Group represented Barberry Rose and the buyer, Gilman Management, in the transaction.

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AcquisitionsHealthcareIllinoisMidwest

Cushman & Wakefield Brokers $11M Sale of Medical Office Portfolio in Libertyville, Illinois

by Kristin Harlow

LIBERTYVILLE, ILL. — Cushman & Wakefield has brokered the $11 million sale of the Hollister Grove Medical Office Portfolio in Libertyville, a northern suburb of Chicago. The portfolio consists of 1800 Hollister Drive, which totals 58,000 square feet across three floors. Located on the campus of Hollister Inc., the property is 91 percent leased to tenants such as Advocate Infusion Center, Illinois Retina Associates and Northwest Neurology. The other property in the portfolio is 1900 Hollister Drive, which totals 34,000 square feet across three floors. The building is 57 percent leased to tenants such as Weil Foot & Ankle, Northshore Allergy, Northshore Primary Care and Ear, Nose & Throat Specialists of IL. Gino Lollio, Travis Ives, Sushil Puria and Tyler Morss of Cushman & Wakefield represented the seller, Libertyville-based Hollister Inc., which is a medical supply manufacturer. Skokie-based Stage Equity Partners was the buyer.

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