VERMILLION, S.D. — Marcus & Millichap has arranged the $2.1 million sale of a 2,365-square-foot retail property occupied by Starbucks in Vermillion, home of the University of South Dakota. The net-leased building has a new 10-year lease with Starbucks that features 7.5 percent rental increases every five years. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.
SAN BERNARDINO, CALIF. — The Mogharebi Group (TMG) has arranged the $21.5 million sale of Loma Villas, a newly constructed, 70-unit community in San Bernardino. Loma Villas features a mix of studio, one- and two-bedroom floor plans that include enclosed patios or balconies. Amenities include a pool and spa, fitness center, dog park, and grilling and picnic areas. TMG’s Alex Mogharebi, Otto Ozen and Bryan LaBar represented the seller, a regional owner and developer. The buyer is a Southern California-based private investor.
ALISO VIEJO, CALIF. — Sunland Nutrition has purchased a 40,792-square-foot industrial building in Aliso Viejo for $14 million. The nutritional ingredients distributor will use the building for its headquarters. The facility is located at 81-91 Columbia. It features 28-foot warehouse clear heights, two ground-level loading doors, two dock-high loading doors, large fenced yard, building-top signage and 4.25/1,000 parking ratio. JLL’s Xavier Nolasco, Brian Thene, Steve Wagner and Cameron Driscoll represented the undisclosed seller. Steve Crane of Daum Commercial represented Sunland Nutrition.
SOMERSET, N.J. — Cushman & Wakefield has brokered the sale of a 151,756-square-foot industrial development site in the Northern New Jersey community of Somerset. The fully entitled site is located at 110 Belmont Drive and spans 7.8 acres. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Mindy Lissner and David Gheriani of Cushman & Wakefield represented the seller, Braha Properties, in the transaction. Nevada-based Dermody Properties acquired the site with plans to construct a facility with a clear height of 40 feet, 30 loading positions and 93 car parking spaces.
HUDSON, MASS. — Brokerage firm Horvath & Tremblay has arranged the $21.9 million sale of Center at Hudson, an 84,605-square-foot shopping center located about 30 miles west of Boston. The grocery-anchored center consists of a freestanding, 58,266-square-foot Stop & Shop, which has operated out of that location since 1990 and recently extended its lease, and 26,339 square feet of inline space. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The deal traded at a cap rate of 6.35 percent.
NEW YORK CITY — New Jersey-based investment firm Cedarbridge Management has purchased a 54-unit multifamily building located at 4300 Broadway in Manhattan’s Washington Heights neighborhood for $12 million. The six-story building was originally constructed in 1955 and houses five commercial spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of local brokerage firm Rosewood Realty Group represented Cedarbridge and the undisclosed seller in the transaction. The deal traded at a cap rate of 7 percent.
SAVANNAH, GA. — Olympus Property has acquired Capital Crest at Godley Station, a 203-unit apartment community located in Savannah. Built in 2017 along Benton Boulevard, the property offers 14 floor plans in one-, two- and three-bedroom layouts. Amenities at the community include a 2,500-square-foot sports club, saltwater swimming pool, poolside cabanas and fireplace, a theater, car care center, dog park, pet spa and attached and detached garage parking. The seller and purchase price were not disclosed.
KeyBank Arranges $33M Acquisition Financing for Meadow Creek Apartments in Bridgeport, West Virginia
BRIDGEPORT, W.VA. — KeyBank Real Estate Capital (KBREC) has arranged a $33 million loan for the acquisition of Meadow Creek Apartments, a multifamily community located in Bridgeport. Built in 2017 on 31.5 acres, the property comprises 29 buildings ranging from two to four stories. Alan Isenstadt, Pranav Sarda and John Ward of KBREC structured the fixed-rate Fannie Mae loan. Moshe Feiner of Sevenstone Capital arranged the financing on behalf of the undisclosed borrower.
MESQUITE, TEXAS — CBRE has brokered the sale of two industrial buildings totaling 918,213 square feet in the eastern Dallas suburb of Mesquite. Buildings B and D at Alcott Station, a 160-acre development by Urban Logistics Realty, total 325,218 and 592,995 square feet, respectively. At the time of sale, Building B was vacant, and Building D was fully leased to third-party provider RJW Logistics Group. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented Urban Logistics Realty in the transaction. Institutional investment firm BentallGreenOak purchased the buildings for an undisclosed price.
CORPUS CHRISTI, TEXAS — Northmarq has arranged the sale of Indigo Apartments, a 220-unit multifamily property in Corpus Christi. According to Apartments.com, the property was built in 1969 and offers studio, one-, two-, three- and four-bedroom floor plans. Amenities include a pool, fitness center, business center, playground and a dog park. Moses Siller of Northmarq represented the seller, 3CM Multifamily, in the transaction. The buyer and sales price were not disclosed.