PARKVILLE, MD. — Neuman Commercial Group has arranged the sale of a 21,200-square-foot shopping center located at 1901‐7 E. Joppa Rd. in Parkville, roughly 10 miles northeast of Baltimore. Gil Neuman of Neuman represented the seller, Besche Realty, in the $4.5 million transaction. Originally built in 1965, the property was fully occupied by three tenants at the time of sale. The buyer was not disclosed.
BRYAN, TEXAS — Hilco Real Estate has arranged the $9.9 million sale of the Tru by Hilton Bryan College Station, a 98-room hotel in Central Texas. The property was built on 2.6 acres in 2018 near the Texas A&M University campus and offers a fitness center, children’s play area, meeting and event space and a lobby bar/lounge. Keith Worsham of Hilco Real Estate represented the seller, Wealth Hospitality, in the transaction. The buyer was not disclosed.
CHICAGO — Transwestern Real Estate Services has acquired Chicago-based MB Real Estate (MBRE), a full-service commercial real estate firm. The transaction adds 120 team members and a regional property management portfolio exceeding 12 million square feet. Founded in 1982, MBRE provides expertise in asset and facilities management, leasing services, project management, tenant representation and investment services. Its leasing and management portfolio includes high-profile properties such as Michigan Plaza, 181 W. Madison, Millennium Park and the Richard J. Daley Center. Celebrating its 45th anniversary in 2023, Transwestern is a diversified commercial real estate firm with more than 2,100 team members nationwide. MBRE began operating as Transwestern on Jan. 1. Financial terms of the transaction were not provided.
ROSEVILLE, OAKDALE AND WOODBURY, MINN. — JLL Capital Markets has arranged the sale of a seven-building industrial portfolio totaling 376,218 square feet in suburban Twin Cities for an undisclosed price. Five of the buildings are located in Oakdale, while one is in Woodbury and one is in Roseville. The portfolio is 96 percent leased to 18 tenants. Colin Ryan, David Berglund and Erin Fitzgerald of JLL represented the seller, Link Logistics, and procured the buyer, Minneapolis-based Biynah Industrial Partners. Matthew Schoenfeldt, Scott Loving and Lucas Borges of JLL arranged acquisition financing.
PAINESVILLE, OHIO — In a sale-leaseback transaction, DWG Capital Partners Inc. has acquired a 68,650-square-foot industrial facility in the Cleveland suburb of Painesville. The purchase price was undisclosed. T&T Machine Inc., a specialized manufacturer of machine parts for the healthcare, engineering, automotive, food & beverage and military sectors, was the seller. Built in 1999, the property is located at 892 Callendar Blvd. within the Blackbrook Road Industrial Park. Mitchell Hoffman of Raven Oak represented the seller. Dugan Kelley of Kelley Clarke PC and Mark Atkins of Reafco represented DWG Capital Partners, which is led by Judd Dunning.
MANCHESTER, CONN. — A joint venture between Virginia-based investment firm Harbor Group International and Cammeby’s International Group has acquired The Pavilions, a 932-unit apartment community in Manchester, an eastern suburb of Hartford. Built in phases between 1990 and 1992, the property offers one-, two- and three-bedroom units. The amenity package comprises multiple pools, fitness centers, resident lounges and tennis courts, as well as outdoor grilling and dining areas, a sand volleyball court and a dog park. The new ownership plans to invest $21.2 million in upgrades to unit interiors, common areas, amenity spaces and building exteriors.
FALCONER, N.Y. — New York-based investment firm GreyHill Group has acquired a 401,000-square-foot industrial property in the Western New York community of Falconer for $7.3 million. Orbis Corp. and Keywell Metals are the anchor tenants of the property, which is located at 2632 S. Work St. and features a clear height of 20 feet. The off-market deal traded at a price of approximately $18 per square foot. The seller and sales price were not disclosed.
ATLANTIC BEACH, N.C. — Marcus & Millichap has brokered the $18 million sale of Inn at Pine Knoll Shores, a 102-room oceanfront hotel located at 511 Salter Path Road in Atlantic Beach. Robert Hunter, Leo Reilly and McLean Hicklin of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, Blue Water Development, a development, investment and management company based in Ocean City, Md. Benjamin Yelm, Marcus & Millichap’s North Carolina broker of record, assisted in closing the transaction. Built in 1973, the seven-story Inn at Pine Knoll Shores hotel is located along the Bogue Banks, a 21-mile barrier island on the Atlantic Ocean’s coast. Food-and-beverage options at the recently renovated hotel include Clamdigger Restaurant and a tiki bar, the Cutty Sark Lounge.
LOS ANGELES — Northmarq has negotiated the sale of a three-community multifamily portfolio in the Los Angeles neighborhoods of Granada Hills and Northridge. Upside Investments sold the portfolio to LAApartment.biz, a private investor, for $55.5 million. The portfolio includes: Villa Verde Apartments, a 90-unit asset located at 10339 Zelzah Ave. in Northridge. The community features laundry facilities, a fitness center and pool. Zelzah Avenue Apartments, an 88-unit property at 10331 Zelzah Ave. in Northridge. Onsite amenities include laundry facilities, a fitness center, pool and grill. Northridge Pointe, a three-story, 68-unit community located at 8511 Balboa Blvd. in the Northridge/Granada Hills submarket. Community amenities include laundry facilities, an elevator, a fitness center and picnic areas. Vince Norris, Jim Fisher, Mike Smith, Mike Hanassab, Elliot Hassan and Steven Goldstein of Northmarq’s Los Angeles investment sales team represented the seller and buyer in the transaction.
LAKEWOOD, WASH. — Sage Homes Northwest has acquired a three-community multifamily portfolio from a private local owner for $20.4 million in an off-market transaction. The portfolio includes: Garden Park Apartments, a 49-unit property at 12802-12878 Lincoln Ave. SW Colonial Court Apartments, a 41-unit asset at 9120 Lawndale Ave., 9104 Newgrove Ave. SW and 9119 Kenwood Ave. SW Evergreen Court Apartments, a 40-unit community at 12805-12809 47th Ave. SW The buyer plans to perform value-add upgrades to the properties, which were built in the 1960s and 1970s, to bring the assets up to market-rate value. Brandon Lawler, Jerrid Anderson and Dylan Simon of Kidder Mathews’ Simon and Anderson team represented the buyer in the transaction.
