TELLURIDE, COLO. — CoralTree Hospitality has taken over operations at Hotel Columbia. Situated in downtown Telluride, Hotel Columbia offers 21 rooms. The hotel has two hot tubs and provides on-site ski storage with boot dryers. CoralTree currently oversees three hotels in Colorado: Magnolia Hotel Denver, the Eddy Taproom & Hotel in Golden and the Hotel at the United States Air Force Academy in Colorado Springs, which is set to open in 2024.
PORTLAND, ORE. — Bronko LLC has acquired three industrial buildings and a parking lot located at 615-633 SE Clay St. and 1521 SE 7th Ave. in Portland. Norris & Stevens arranged the investment sale, valued at $2.6 million. Constructed between 1924 and 1925, the property consists of three commercial buildings, each spanning about 5,000 square feet. It also includes a parking lot measuring 10,000 square feet across the street from the buildings. The previous tenants included an auto transmission service, printing services and an upholstery supplier. Greg Nesting and Gabe Schnitzer of Norris & Stevens represented both the buyer and the seller, Robert R. Dickey et al., in this transaction.
WASHINGTON, D.C. — JLL has arranged the sale of The Shay, a 245-unit apartment community located at 1924 8th St. NW in Washington, D.C.’s Shaw neighborhood. Robert Jenkins and Bret Thompson of JLL represented the seller in the transaction. The buyer, seller and sales price were not disclosed, but multiple media outlets have reported that an affiliate of Bernstein Management purchased the asset from Dweck Properties. Built in 2015 about three blocks from the Shaw-Howard University Metro station, The Shay features studio, one- and two-bedroom units with floor-to-ceiling windows, nine-foot ceilings, stainless steel smart appliances and quartz countertops. Community amenities include a heated pool with sundeck, two landscaped rooftop decks with seating and grills, catering kitchen and dining area and a fitness center.
ORLANDO, FLA. — Plaza Advisors has negotiated the sale of Orlando Square, a 183,877-square-foot shopping center located at the southwest corner of Sand Lake Road and South Orange Blossom Trail in Orlando. The property was 85 percent leased at the time of sale to tenants including Ross Dress for Less, Office Depot, Ollie’s Bargain Outlet, Central Rock Gym, Chipotle Mexican Grill, Firehouse Subs, Bright Now Dental, Chick-fil-A and Chase Bank. Miami-based Core Investment Management purchased the center from an entity doing business as AGRE Orlando Square LLC. Plaza Advisors represented the seller in the transaction.
BENTON, ARK. — Legacy Realty Group Advisors has brokered the $9.3 million sale of Benton Commons, a 74,870-square-foot retail center located in Benton, roughly 25 miles southwest of Little Rock. Kroger anchors the property, and other tenants include State Farm Insurance, Sumo Express and H&R Block. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy represented the undisclosed buyer in the transaction. Todd Rice of Colliers Arkansas represented the undisclosed seller.
ELGIN, ILL. — Marcus & Millichap has brokered the $2.1 million sale of a 10,500-square-foot retail property in Elgin. Advance Auto Parts is the anchor tenant at the fully leased center, which is located at 1881 Larkin Ave. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. The team also procured the buyer, an East Coast-based limited liability company completing a 1031 exchange.
TOMBALL, TEXAS — MedProperties Realty Advisors, a Dallas-based private equity firm focused on healthcare assets, has acquired a 61,660-square-foot medical office building in Tomball, a northern suburb of Houston. Medical Center of Tomball was 92 percent leased at the time of sale and is home to primary care, orthopedic, gastroenterology, nephrology, pain management and behavioral health service providers. The facility also offers MRI and diagnostic imaging services and houses a pharmacy. Brian Bacharach, Kevin McConn Vasili Davos of JLL represented the seller, a partnership between Bryant + Stacy Group and Global Healthcare Partners, in the transaction. The trio also procured MedProperties as the buyer.
RIVERSIDE, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $4.9 million sale of a four-tenant retail property located in the Inland Empire city of Riverside. Built In 2020 and situated within Veteran’s Plaza, net-lease tenants at the 6,963-square-foot building include Starbucks Coffee, Express Gadget Repair, Desperate Measures and Jersey Mike’s Subs. Eric Wohl and CJ Kiehler of Hanley represented the seller, a California-based developer. Shirley Kim of Max Mega Group Realty represented the buyer, an international private investor.
INGLEWOOD, CALIF. — SRS Real Estate Partners has arranged the $5.1 million sale of a single-tenant retail property located in Inglewood, roughly 12 miles southwest of Los Angeles. Starbucks Coffee occupies the 1,008-square-foot building, which was built in 2021 on 0.4 acres, on a net-lease basis. Brian Wolfman and Zach Leffers of SRS represented the seller, a Los Angeles-based private investor. David Oberg and Zach Ordin of DLO Realty Group represented the buyer, a Los Angeles-based family office.
SANTA ANA, CALIF. — Marcus & Millichap has arranged an acquisition loan of $6.4 million for an industrial property in Santa Ana. The 19,152-square-foot asset is located at 1820 S. Santa Fe St. Richard Knorr of Marcus & Millichap Capital Corp. secured the financing with a national bank. The loan features a 6.14 percent interest rate with a 25-year self-liquidating term. Drew Wetherholt and Colin Wu of Marcus & Millichap arranged the sale. The buyer and seller were not disclosed.
