MANITOWOC, MCFARLAND AND MADISON, WIS. — Marcus & Millichap has arranged the sale of a 158-unit multifamily portfolio in Wisconsin for an undisclosed price. The properties include Benley Manor, Central Park West, Woodland Commons and The Trafalgar Apartments. Benley Manorf and Central Park West, located in Manitowoc, were built between 1996 and 1998 and offer townhome-style units. Woodland Commons in McFarland was built between 2005 and 2006 and offers amenities such as a pool, spa, community room and fitness center. The Trafalgar Apartments in Madison was built in 2005 and features in-unit washers and dryers along with private balconies. Matthew Whiteside of Marcus & Millichap represented the seller, a private investor, and the buyer, a private investor.
HENDERSON, NEV. — CTO Realty Growth has sold Eastern Commons, a 129,600-square-foot shopping center located in Henderson, roughly 15 miles southeast of Las Vegas. An undisclosed buyer acquired the property for $18.2 million. The seller plans to utilize proceeds from the sale for a 1031-exchange transaction.
RENO, NEV. — Kidder Mathews has arranged the sale of Quail Meadows, a multifamily property located at 5599 Quail Manor Court in Reno. A San Jose, Calif.-based private real estate investment firm acquired the asset from a QM56 LLC for $14.5 million. Gerrit Hillebrand and Ben Nelson of Kidder Mathews represented the seller, while Jim Henderson of Kidder Mathews arranged financing for the buyer in the transaction. Situated on 5.4 acres, the 53,140-square-foot property features 56 units spread across 10 residential buildings. The unit mix consists of 17 one-bedroom/one-bath units, 34 two-bedroom/two-bath units and five three-bedroom/two-bath units. At the time of sale, Quail Meadows was 98 percent occupied.
DELRAY BEACH, FLA. — Sarasota, Fla.-based Benderson Development has acquired Linton Commons, an 85,000-square-foot shopping center located in Delray Beach, a city in South Florida’s Palm Beach County. Tenants at the property include RH Outlet, Guitar Center, PetSmart, Chipotle Mexican Grill and AT&T. Matt Berres, Samer Khalil and Karick Brown of Newmark represented the undisclosed, privately held seller in the transaction. The Newmark team also procured Benderson as the buyer in cooperation with Newmark’s Bert Sanders. The sales price was not disclosed. Benderson’s portfolio in the state also includes a freestanding Publix in Pompano Beach, which was acquired in August, and a Publix-anchored shopping center in Englewood.
WASHINGTON, D.C. — Marcus & Millichap has brokered the sale of a 26-unit apartment building located at 2724 11th St. NW in the Columbia Heights neighborhood of Washington, D.C. The transaction follows a decade of legal disputes and a Chapter 11 bankruptcy filing by the seller. Nick Murray, Marty Zupancic and John Slowinski of Marcus & Millichap arranged the sale. The undisclosed buyer plans to implement a redevelopment at the property. The sales price was not disclosed.
MESA, ARIZ. — A joint venture that Crow Holdings Capital manages has purchased The Shops at Sossaman, a neighborhood shopping center in Mesa. Abington Emerson Investments sold the asset for $8.1 million. Built in 2002, The Shops at Sossaman features 34,151 square feet of retail space. At the time of sale, the property was fully occupied by a variety of tenants, including Banner Health Physical Therapy, East Valley Pet Urgent Care, Empower Academy and Crave Pizza. The asset is located at 7641 E. Guadalupe Road. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the buyer and seller in the deal.
LOS ANGELES — Marcus & Millichap has arranged the sale of 2900 Francis Avenue, a multifamily property located in Los Angeles’ Koreatown neighborhood. An undisclosed seller sold the asset to a private investor for $2.2 million, or $225,000 per unit. Jason Tuvia and Joshua Yeager of Marcus & Millichap represented the seller and secured the buyer in the transaction. Built in 1922, the value-add property features 10 one-bedroom/one-bath apartments that are subject to Los Angeles’ rent control laws.
STRASBURG, COLO. — Trevey Commercial Real Estate has arranged the sale of an office and retail property located at 1477 Main St. in Strasburg, a small town approximately 30 miles east of Denver. Maverick Holdings LLC sold the building to Strasburg Management Group for $1.3 million. Situated on 0.2 acres, the freestanding, owner-user building features 7,793 square feet of office and retail space. Heath Honbarrier and Nick Beach of Trevey Commercial Real Estate represented the seller, while Matt Trone of Cushman & Wakefield represented the buyer in the deal.
DENVER — NorthPeak Commercial Advisors has negotiated the sale of an office building located at 1638-1640 Logan St. in Denver. The asset traded for $1.2 million, or $221 per square foot. The undisclosed buyer plans to add a coffee shop to the first floor of the 5,657-square-foot building and keep the existing office tenants on the upper floors. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the undisclosed seller in the deal.
SCHAUMBURG, ILL. — Lee & Associates has brokered the sale of a 94,490-square-foot industrial facility in the Chicago suburb of Schaumburg for an undisclosed price. Constructed in 1988, the building is located at 2050 Mitchell Blvd. adjacent to Schaumburg Regional Airport. Terry Grapenthin, Michael Plumb and Ryan Earley of Lee & Associates represented the undisclosed seller. Nick Krejci and Noel Liston of Core Industrial Realty represented the buyer, a manufacturing user.