CHICAGO — CBRE has negotiated the sale of a 20,000-square-foot office building in Chicago’s West Loop for an undisclosed price. Located at 1218 W. Adams St., the property served as the Chicago headquarters of the Boy Scouts of America’s Pathway to Adventure Council since 1995. Tom Svoboda and Phil DeBoer of CBRE represented the seller, the Boy Scouts of America’s Pathway to Adventure Council. The buyer, Kensington School, plans to redevelop the building. Svoboda also represented the Boy Scouts in purchasing an 8,200-square-foot office suite at 1100 W. Washington Blvd. in Chicago’s West Loop.
FISHERS, IND. — The Klink Group of Marcus & Millichap has brokered the sale of Pine Creek Shoppes in the Indianapolis suburb of Fishers for $3.3 million. Constructed in 2000, the retail center is located at 8958 E. 96th St. Tenants include H&R Block, Nail Bar, Bailey & Wood Mortgage and Moon Face & Body Studio. Jordan Klink of the brokerage represented the seller, Vamoz LTD, a private investor based in New York. Matthew Ferguson and Pete Alveal of Premier Commercial procured the buyer, NOC Pine Creek LLC, an Indianapolis-based limited liability company.
VANCOUVER, WASH. — HFO Investment Real Estate has arranged the sale of Meadow Brook Place Apartments, a multifamily community located at 2231 NE Bridgecreek Ave. in Vancouver. California-based Aukum Group acquired the asset from Meadowbrook Place LLC, an entity associated with an Oregon family investor group, for $38.5 million. Built in 1996, Meadow Brook Place Apartments features 154 one-, two- and three-bedroom residences spread across 17 buildings, ample off-street parking, storage space, a rental office, pool and basketball court. Greg Frick, Tyler Johnson and Rob Marton of HFO facilitated the transaction.
MONTROSE, COLO. — Northmarq has arranged the forward sale of Basecamp Apartments in Montrose. Range Colorado sold the asset to Blueline Equity Partners for $33.5 million. Slated to open this year, Basecamp Apartments will offer one- and two-bedroom floor plans, ranging from 719 square feet to 995 square feet. The units will feature stainless steel appliances, wine refrigerators, hard-surface countertops and a modern flooring and lighting package. Alex Possick, Seth Gallman, Mark Jeffries and Jeff DeHarty of Northmarq’s Colorado Multifamily Investment Sales and Debt/Structured Finance team handled the transaction.
SOUTH JORDAN, UTAH — Stellar Senior Living has acquired Anthology of South Jordan, a 103-unit seniors housing community in South Jordan, a suburb of Salt Lake City. The new owner has changed the name to Copper Creek Senior Living. The property offers independent living, assisted living and memory care services. Copper Creek is located near retail, entertainment, recreational and healthcare destinations. Utah-based Stellar Senior Living is a family-owned senior living provider operating 28 senior living communities in nine states in the Western United States.
ALLEN, TEXAS — Avison Young has brokered the sale of a 115,200-square-foot office building located at 805 S. Central Expressway in Allen, a northeastern suburb of Dallas. Susan Gwin Burks, John Bowles, Bruce Butler and Philip Boren of Avison Young, along with Clint Madison and Rodney Helm of Cushman & Wakefield, represented the seller, Gladstone Commercial, in the transaction. Matt Middendorf of Middendorf Commercial Real Estate represented the buyer, Sol-Ark, which provides solar and other energy storage products. The new ownership plans to take full occupancy of the building, which was originally constructed in 1998.
DALLAS — Texas-based brokerage firm Wellington Realty has arranged the sale of The Ascent at Midtown, an 81-unit multifamily property located at 6431 Ridgecrest Road in northeast Dallas. The complex was built in 1980. According to Apartments.com, Ascent at Midtown offers one- and two-bedroom units. David Shaffer, Caleb Jones, and Investment Sales Associates, Will Miller, Chase Thompson and Charles Larkam of Wellington Realty brokered the deal. The buyer and seller were not disclosed.
TOMS RIVER AND BRICK, N.J. — Marcus & Millichap has brokered the $46 million sale of the Ocean County Middle Market Portfolio, a collection of 10 commercial properties totaling 310,023 square feet that are located in Southern New Jersey’s Toms River and Brick. The portfolio comprises five multi-tenant retail properties, two medical office buildings and three net-leased retail assets, one of which is vacant. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap, along with Brad Nathanson of Institutional Property Advisors, represented the seller, private investor Edele Hovnanian, in the transaction. The team also procured the buyer, Horizon Equities. At the time of sale, the portfolio was leased to more than 100 tenants and had a collective occupancy rate of 70 percent.
JEFFERSON, N.J. — Locally based developer Diversified Properties has acquired two lots totaling 9.8 acres in the Northern New Jersey community of Jefferson for the construction of a new multifamily project. Phase I of the project, which will be known as Jefferson Place, will total 32 units. Residences will be available in one- and two-bedroom floor plans and will range in size from 855 to 1,216 square feet. Amenities will include a fitness center, and an outdoor lounge with grilling and dining stations. Details of Phase II were not disclosed. John Schilp and Sigmund Schorr of NAI James E. Hanson represented Diversified Properties and the sellers of the tracts in the land deal. Sitework on Phase I will begin this spring.
TALLAHASSEE, FLA. — GBT Realty Corp. has sold Governor’s Marketplace, a 243,000-square-foot power retail center located on a 34.7-acre site along Governor’s Square Boulevard in Tallahassee. The buyer, an undisclosed private investor, purchased the property for $34 million. Brad Peterson of JLL represented Brentwood, Tenn.-based GBT Realty in the transaction. The shopping center was 96 percent leased at the time of sale to tenants such as Marshalls, Michaels, Urban Air, Old Navy, Ulta Beauty, Petco and David’s Bridal. The center had 10,000 square feet of space available at the time of sale. Also included in the sale was a nearly two-acre parcel at the southeast corner of Magnolia Avenue and Governor’s Square Boulevard that has two existing buildings on the site.