LOUISVILLE, KY. — 29th Street Capital (29SC) has purchased Ashton Brook Apartments, a 274-unit multifamily community located in Louisville. The seller and sales price were not disclosed. Built in 1979, the Class B property features a swimming pool, fitness center, dog park, outdoor grilling and picnic area, playground and a laundry facility. Ashton Brook is situated near the headquarters of Haven Residential, 29SC’s in-house property management company that is taking over operations of the pet-friendly community.
Acquisitions
CHESAPEAKE, VA. — MDH Partners has acquired Chesapeake Industrial Park, a two-building, 182,000-square-foot industrial property located at 3804 and 3808 Cook Blvd. in Chesapeake. This is Atlanta-based MDH’s second Virginia purchase this year, following the purchase of AeroFarms Danville in May. Chamie Burroughs and Ricky Anderson of Colliers represented the undisclosed seller in the transaction. Joe DeHaven and Makenna Barbara served as the acquisition leads for MDH Partners. The sales price was not disclosed. The park’s two 90,000-square-foot facilities were fully leased at the time of sale and feature 30-foot clear heights and 23 dock-high doors.
GLASTONBURY, CONN. — Poag Shopping Centers has acquired The Shops at Somerset Square, a 113,422-square-foot retail center in Glastonbury, roughly 10 miles southeast of Hartford. The Tennessee-based investment firm has partnered with JLL to lease and manage the open-air center, which houses tenants such as Chipotle Mexican Grill, AT&T, Edward Jones, Francesca’s and Jos. A Bank. The seller and sales price were not disclosed.
LONGMONT, COLO. — An affiliate of Northbrook, Ill.-based Pine Tree, in partnership with New York-based Wafra Inc., has purchased Harvest Junction, a shopping center in Longmont, for $73.8 million. Completed in 2006, Harvest Junction features 364,000 square feet of retail space. Current tenants include Best Buy, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Michaels, Petco and Designer Shoe Warehouse. Barry Brown, Bryan Ley and Jason Schmidt of JLL’s Retail Capital Markets Investment Sales and Advisory team brokered the transaction.
Lincoln Property, Crow Holdings Sell 299,381 SF Kearny Mesa Logistics Center in San Diego
by Amy Works
SAN DIEGO — Lincoln Property Co. and a real estate fund advised by Crow Holdings Capital have completed the disposition of Kearny Mesa Logistics Center, a newly constructed Class A distribution facility in San Diego’s Kearny Mesa submarket. Terms of the transaction were not disclosed. Located at 5650 Kearny Mesa Road, the 299,381-square-foot facility features 36-foot clear heights, cross-dock configuration, abundant dock-high loading capabilities, 120-foot concrete truck courts and the option to accommodate an extensive pool of logistics-oriented users. Kevin Shannon, Andrew Briner, Bret Hardy, Jim Linn, Brunson Howard and Ken White of Newmark represented the sellers in the deal. The name of the buyer was not released.
HENDERSON, NEV. — RealComm Advisors has arranged the purchase of an industrial property located at 1175 Center Point Drive in Henderson. Laurie Pebworth acquired the asset for $5.1 million. Greg Pancirov and Paul Hoyt of RealComm Advisors represented the buyer in the deal.
JERSEY CITY, N.J. — Locally based brokerage firm B6 Real Estate Advisors has arranged the $15.1 million sale of a 67,158-square-foot development site in Jersey City. The transit-served parcel at 100 Forrest St. is located in the city’s Bergen-Lafayette neighborhood. Yanni Marmarou, Jack Drillock and Andrea Nestico of B6 Real Estate represented the undisclosed seller in the transaction. The buyer and plans for the site were also not disclosed.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $12.1 million sale of a 106-unit multifamily property in The Bronx. The rent-stabilized building at 725-737 Fox St. is located in the borough’s Longwood area and offers studio, one-, two- and three-bedroom units. Victor Sozio, Jason Gold, Shimon Shkury and Daniel Mahfar of Ariel Property Advisors represented the undisclosed seller in the transaction. The buyer was also not disclosed.
SHAWNEE, KAN. — Block & Co. Inc. Realtors has sold the Merriam Grand Station redevelopment site in Shawnee for an undisclosed price. The buyer, Drake Development, plans to redevelop the former Kmart and Pegah’s sites into two apartment buildings with retail and restaurant space. Drake will keep the Merriam Grand Station name. Completion is slated for 2025. Block & Co. will retain the management and leasing of the front lots on both sides of the development, including the Freddy’s Frozen Custard and the Krispy Kreme as well as the Shell gas station and the Chipotle that is under construction. David Block, Max Kosoglad and Alex Block of Block & Co. and Matt Pennington of Drake represented the respective parties in the sale.
ROCHESTER, MINN. — Marcus & Millichap has arranged the sale of Douglas Trail Townhomes in Rochester for $11.1 million. The 100-unit property is located at 5041 Weatherstone Circle NW. Built in 2001, the community features a playground, basketball court, laundry facilities and attached garages. Units range in size from 850 to 1,150 square feet. Chris Collins and Evan Miller of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and procured the buyer, also a limited liability company.