BLUE SPRINGS, MO. — Marcus & Millichap has negotiated the $6.9 million sale of Copperleaf Village in Blue Springs, about 19 miles southeast of downtown Kansas City. The 32,978-square-foot retail center was 82 percent leased at the time of sale. Tenants consist of medical, dental, restaurant, convenience, fitness and insurance companies. The property was originally built in 1973 and renovated in 2006. Zach Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Kansas City-based partnership. The team also procured the buyer, an out-of-state limited liability company.
ROUND ROCK, TEXAS — Cushman & Wakefield has brokered the sale of Franklin Park of Round Rock, a 76-unit assisted living and memory care community located about 20 miles north of downtown Austin. Completed in 2017 by Franklin Development Co., the property offers memory care and assisted living services. Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin of Cushman & Wakefield represented the seller, a partnership between Franklin Park Senior Living and an unnamed institutional investor, in the transaction. The buyer was Inspired Healthcare Capital.
FRIENDSWOOD, TEXAS — Locally based brokerage and investment firm Baker Katz has acquired a 20,000-square-foot freestanding retail building in Friendswood, a southeastern suburb of Houston, with plans to reposition the asset. According to LoopNet Inc., the building at 18980 Gulf Freeway was originally built in 1980 as a pad structure for Baybrook Mall. Ben Brown negotiated the purchase for Baker Katz on an internal basis. The seller and sales price were not disclosed.
CARLSBAD, CALIF. — BentallGreenOak has acquired a R&D/life sciences flex building at 2210 Faraday Ave. within the Faraday Research Center in Carlsbad. Hill Cos. sold the freestanding asset for $35.7 million. The property consists of a single-story, 119,591-square-foot building with second-floor mezzanine space, 24-foot clear heights, dock and grade-level loading, heavy power and ample parking. Originally built in 1997, the property underwent significant renovates in 2005 and features existing life sciences and R&D buildout. Aric Starck and Drew Dodds of Cushman & Wakefield’s capital markets team in San Diego represented the seller in the deal. Don Trapani provided leasing advisory for the property.
COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of a medical office building located at 2960 N. Circle Drive in Colorado Springs. A local limited liability company sold the property to local investor for $4.2 million. Colorado Springs Family Practice occupies the 24,806-square-foot building, which was built in 2003 on two acres. Spencer Mason, Brandon Kramer and Erik Enstad of Marcus & Millichap’s Denver office represented the seller in the deal.
BILLINGS, MONT. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 32-unit assisted living facility in Billings. The community was built in 2015, spanning approximately 16,044 square feet on 1.4 acres of land. The seller was a local owner exiting the senior living market. The buyer is a nonprofit located in Montana. The price was not disclosed. Jason Punzel, Vince Viverito and Brad Goodsell of SLIB handled the transaction.
VINELAND, N.J. — Marcus & Millichap has brokered the $19.3 million sale of Maintree Shopping Center, a 138,445-square-foot retail center located in the Southern New Jersey community of Vineland. Grocer Acme anchors the center, which was originally built in 1996. Other tenants include Boston Market, Burger King, Pizza Hut, Sino Wok and Primo Hoagies. Joseph French Jr., Kodi Traver and Thomas Dalzell of Marcus & Millichap represented the seller, a New Jersey-based limited liability company, in the deal. French also procured the buyer, a California-based private investor.
CANTON, MISS. — Hodges Ward Elliott has brokered the sale of an 80-room Hampton Inn hotel located in Canton, about 30 miles north of Jackson, Miss. B.J. Patel, Clint Hodges and Michael Brandes of Hodges Ward Elliott represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed. Built in 2004 along I-55, the Hampton Inn Canton hotel features a business center, outdoor pool, fitness center, complimentary breakfast and connecting rooms.
PEACHTREE CITY, GA. — Northmarq has arranged the $3.3 million sale of Governor’s Walk, a 21,280-square-foot shopping center located at 1980 GA Highway 54 in Peachtree City. The property was fully leased at the time of sale to Car Wash, Donut Shop, Peachtree Pawn, Fresh Smoothie Café, Mary Nails, Curves, Carolina Hemp Co., Southern Crescent Spa, Peachtree Wax Studio, La Plaza R&R Inc., Flooring Store, Men’s World Barber, Rene’e Paige Salon and M&R Alterations. Jeff Enck of Northmarq represented the Florida-based seller in the transaction, as well as the California-based 1031 exchange buyer.
GREEN VALLEY, ARIZ. — Northmarq has arranged the sale of Sahuarita Mission, a multifamily community located at 1091 W. Beta St. in Green Valley. Sahuarita Mission Owner LLC (FSO Capital Partners) sold the asset to Cypress, Calif.-based WNC Apartment Ventures for $8.8 million, or $169,231 per unit. Built in 2000, Sahuarita Mission is an affordable multifamily community with four two- and three-story buildings on 2.9 acres. The fully occupied property features 52 two- and three-bedroom units, ranging in size from 822 square feet to 1,013 square feet, with walk-in closets, balcony or patio, plush carpet and automatic dishwashers. Community amenities include a clubhouse, children’s playground, picnic area with grill, laundry facilities and on-site leasing office. Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca of Northmarq Phoenix’s investment sales team represented the seller in the deal. Bryan Mummaw, Bryan Liu, Brandon Harrington, Christopher Gitibin, Brad Burns and Tyler Woodard of Northmarq’s debt and equity team secured a $5.9 million loan for the buyer through Northmarq’s relationship with Freddie Mac.