MOUNT PROSPECT, ILL. — Marcus & Millichap has negotiated the $3.6 million sale of an 11,010-square-foot retail center in the Chicago suburb of Mount Prospect. Dunkin’ anchors the property, which is located at 200 W. Northwest Highway. The center is fully leased. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a Chicagoland-based limited liability company. The duo also secured and represented the buyer, a local private investor. The sale closed at 97 percent of the list price.
TORRANCE, CALIF. — NAI Capital Commercial has brokered the $6.7 million sale of Sylvia Square, a retail strip center located in Torrance. Built in 1974, the property totals 15,234 square feet. Sheri Messerlian and David Shaby of NAI represented the seller, an entity doing business as Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, in the transaction.
FORT WORTH, TEXAS — Global Real Estate Advisors (GREA) has negotiated the sale of Southgate Manor, a 158-unit multifamily property in Fort Worth. According to Apartments.com, the property was built in 1963 and features studio, one-, two- and three-bedroom units that range in from 425 to 1,065 square feet. Mark Allen of GREA represented the undisclosed, Texas-based seller in the transaction. The buyer and sales price were also not disclosed.
ATLANTA — Hunter Hotel Advisors, a national hospitality brokerage firm based in Atlanta, has arranged the sale of four hotels in Alabama totaling 361 rooms. The assets include Home2 Suites Madison Huntsville Airport, Hilton Garden Inn Madison, Home2 Suites Decatur Ingalls Harbor and Home2 Suites Opelika Auburn. Tim Osborne and Trey Scott of Hunter represented the seller, an undisclosed institutional investment firm, in the sale. The portfolio’s buyer and sales price were also not disclosed.
CHARLOTTE, N.C. — Northridge Capital, an independent real estate management firm based in Washington, D.C., has sold a historic creative office building in Charlotte’s FreeMoreWest submarket. An undisclosed real estate investment firm based in Charlotte purchased Grinnell Water Works, located at 1435 W. Morehead St., for $19.2 million. Alex Olofson of Stream Realty Partners and Jared Londry of PointBlank Ventures represented Northridge Capital in the transaction. Grinnell Water Works was built in 1930 and offers approximately 52,000 square feet of rentable office space across two floors. The asset was 70 percent leased at the time of sale.
WAYNESVILLE, N.C. — Divaris Real Estate has brokered the $14.8 million sale of Russ Avenue Plaza, a shopping center located at 1153-1220 Russ Ave. in Waynesville, approximately 26 miles west of Asheville, N.C. The 17-acre retail property formerly housed a big-box Kmart store. Jessica Johnson of Divaris represented the seller, an entity doing business as Russ Avenue Plaza LLC, in the transaction. The buyer and future plans for Russ Avenue Plaza were not disclosed.
GALVESTON, TEXAS — Colliers has arranged the sale of Lakeside at Campeche, a 320-unit apartment community located in the southeastern Texas city of Galveston. The property offers one- and two-bedroom units and amenities such as a pool, outdoor gym and grilling and dining stations. Chip Nash, Bob Heard and Jaleel Adatia of Colliers represented the seller, a California-based joint venture that owned the property for 20 years, in the transaction. Metro Dallas-based investment firm Clearworth Capital purchased the asset for an undisclosed price.
GARLAND, TEXAS — Houston-based brokerage firm Finial Group has negotiated the sale of a 7,692-square-foot industrial building located at 4309 Action St. in the northeastern Dallas suburb of Garland. The facility includes 1,500 square feet of office space. An undisclosed seller sold the property to Cenote Investment Group for an undisclosed price. Jason Gibbons of Finial Group brokered the deal.
HINGHAM, MASS. — Newmark has brokered the $45.2 million sale of Lincoln Plaza, a 127,505-square-foot shopping center located about 20 miles south of Boston in Hingham. A 68,087-square-foot Stop & Shop grocery store and a 31,882-square-foot Marshalls anchor the center, which was 99 percent leased at the time of sale. Robert Griffin, Jon Martin, Paul Penman and Matthew Adler of Newmark represented the seller, AEW, in the transaction and procured the buyer, a subsidiary of Jumbo Capital Inc. Casey O’Brien and Connor Scott of Newmark provided financial analysis support for the deal.
LEE’S SUMMIT, MO. — Avanti Residential has acquired the 308-unit Summit Square apartment community in the Kansas City suburb of Lee’s Summit for $80 million. Avanti now owns eight apartment properties in the greater Kansas City market. Built in 2018, Summit Square is located at 789 NW Donovan Road. Mac Crowther and Whittaker Potts of Newmark represented the seller, NorthPoint Development. Avanti owns and operates more than 8,000 apartment units in Colorado, Arizona, Utah, Florida and metro Kansas City.