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Acquisitions

AcquisitionsDistrict of ColumbiaMultifamilySoutheast

JLL Arranges Sale of 245-Unit Shay Apartments in D.C.’s Shaw Neighborhood

by John Nelson

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.

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AcquisitionsFloridaRetailSoutheast

Plaza Advisors Negotiates Sale of 183,877 SF Shopping Center in Orlando

by John Nelson

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.

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AcquisitionsArkansasRetailSoutheast

Legacy Realty Brokers $9.3M Sale of Kroger-Anchored Retail Center Near Little Rock, Arkansas

by John Nelson

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.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $2.1M Sale of Retail Property in Elgin, Illinois

by Kristin Harlow

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.

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AcquisitionsHealthcareTexas

MedProperties Acquires 61,660 SF Healthcare Asset in Metro Houston

by Taylor Williams

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.

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AcquisitionsCaliforniaRetailWestern

Hanley Brokers $4.9M Sale of Retail Building in Riverside, California

by Jeff Shaw

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.

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AcquisitionsCaliforniaRetailWestern

SRS Negotiates $5.1M Sale of Starbucks-Occupied Property in Inglewood, California

by Jeff Shaw

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.

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AcquisitionsCaliforniaIndustrialLoansWestern

Marcus & Millichap Arranges $6.5M in Acquisition Financing for Industrial Property in Santa Ana, California

by Jeff Shaw

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.

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AcquisitionsIndustrialNAINew JerseyNortheast

NAI Hanson Brokers Sale of 7,987 SF Industrial Building in Hackensack

by Taylor Williams

HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of a 7,987-square-foot industrial building located at 101 S. State St. in Hackensack. The building offers a clear height of 22 feet, one drive-in door and 11 parking spaces. David Ukleja of NAI Hanson represented the seller, BCB Janitorial Supply Co. Inc., in the transaction and procured the buyer, an entity doing business as APEX 101 Holdings LLC. The sales price was not disclosed.

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Independence-Square-Plano
AcquisitionsRetailTexas

JLL Negotiates Sale of 140,218 SF Independence Square Shopping Center in Plano

by Taylor Williams

PLANO, TEXAS — JLL has negotiated the sale of Independence Square, a 140,218-square-foot shopping center in Plano. Grocer Tom Thumb anchors the center, which was built in 1977 and renovated in 2005. Independence Square had a 94 percent occupancy rate at the time of sale, and other tenants on the roster include Oscar Nail Lounge, Cookies by Design, Great Clips, Little Greek Restaurant, Frost Bank, Jersey Mike’s and Workout Anytime. Chris Gerard, Barry Brown, Erin Lazarus and Ben Esterer of JLL represented the undisclosed seller in the transaction. The buyer was Dallas-based Head Capital Partners.

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