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Acquisitions

AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $2.7M Sale of Apartment Building on Chicago’s West Side

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of a 35-unit apartment building in Chicago’s Austin neighborhood for $2.7 million. Built in the late 1920s, the property is located at 5550 W. North Ave. and features a mix of one- and two-bedroom units as well as ground-floor retail space. The building has undergone renovations within the past 10 years. Lucas Fryman, Ted Stratman and Sam Gutierrez of Interra represented the seller, New York-based real estate investment group Raskin Risers. The group also represented the buyer, a local real estate investor and manager that plans to make modest upgrades to the property.

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AcquisitionsFloridaMultifamilySoutheast

JBM Arranges $87.3M Sale of Versol Apartments in Bonita Springs, Florida

by Jeff Shaw

BONITA SPRINGS, FLA. — JBM Institutional Multifamily Advisors has arranged the sale of Versol, a 240-unit multifamily property located in Bonita Springs. TerraCap Management sold the property to an undisclosed buyer for $87.3 million. Sitting on 27.4 acres, the community features amenities including a pool, clubhouse, fitness center, outdoor kitchen, bocce ball court, Amazon Hub package lockers, and storage units and garages for rent.

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AcquisitionsGeorgiaRetailSoutheast

SRS Brokers Sale of 143,081 SF Blackwell Plaza Shopping Center in Marietta, Georgia

by Jeff Shaw

MARIETTA, GA. — SRS’ Investment Properties Group has arranged the sale of Blackwell Plaza, a 143,081-square-foot shopping center in Marietta, approximately 20 miles northwest of Atlanta. An entity doing business as RCG-Marietta VII LLC acquired the property from Stebri Enterprises for $10 million. Kyle Stonis and Pierce Mayson of SRS represented Stebri in the transaction. Sitting on 17 acres at the intersection of Canton Road and Piedmont Road, the property features tenants including Old Time Pottery and America’s Thrift Store.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Arranges Sale of 585-Unit Self-Storage Portfolio in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Marcus & Millichap has arranged the $6.4 million sale of the 10 Federal Texas Portfolio, a collection of three self-storage facilities totaling 585 units in Fort Worth. The portfolio spans five acres and 68,030 net rentable square feet. Stacey Gorman, Eric Jones, Cameron Bradford and Sam Slocum of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Brandon Karr and Danny Cunningham, also with Marcus & Millichap, procured the buyer, a private investor, and the firm’s Tim Speck assisted in closing the deal as the broker of record. The portfolio was 86 percent occupied at the time of sale.

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AcquisitionsOfficeTexas

Newmark Brokers Sale of 210,465 SF Office Complex in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — Newmark has brokered the sale of Wellington Centre, a 210,465-square-foot office complex located on the northern outskirts of Dallas in Addison. Built in 1986 and renovated in 2015, the property comprises a 10-story building with an adjacent parking garage on a three-acre site. Amenities include a cafeteria, tenant lounge and outdoor seating areas. Gary Carr, Chris Murphy, Robert Hill and Chase Tagen of Newmark represented the seller, Taiwanese investment firm Fidelity Commercial, in the transaction. Pratt Street Capital purchased the asset for an undisclosed price.

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AcquisitionsIndustrialNew YorkNortheastSelf-Storage

Marcus & Millichap Brokers Sale of 371-Unit Self-Storage Portfolio in Upstate New York

by Taylor Williams

BATAVIA AND DARIEN, N.Y. — Marcus & Millichap has brokered the sale of a portfolio of two self-storage facilities totaling 371 units in the upstate New York communities of Batavia and Darien. West Batavia Rentals and Broadway Rentals are located roughly 12 miles from one another and span 51,670 square feet of combined net rentable space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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AcquisitionsMultifamilyNortheastPennsylvania

Prestige Group Arranges $8.2M Sale of Philadelphia Multifamily Portfolio

by Taylor Williams

PHILADELPHIA — Locally based brokerage firm The Prestige Group has arranged the $8.2 million sale of a portfolio of two multifamily buildings totaling 50 units in Philadelphia’s Mount Airy neighborhood. Both buildings rise four stories and predominantly house one- and two-bedroom units. Bob Cohen of Prestige Group represented the seller in the off-market transaction, and Jon Mirsky and Sajan Shah of Prestige Group represented the buyer. Both parties requested anonymity. The portfolio was 95 percent occupied at the time of sale.

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Hampton-Inn-&-Suites-Yonkers
AcquisitionsHospitalityNew YorkNortheast

Excel Group Acquires 150-Room Hampton Inn & Suites Yonkers Hotel

by Taylor Williams

YONKERS, N.Y. — Virginia-based investment firm Excel Group has acquired the Hampton Inn & Suites Yonkers, a 150-room hotel located about 17 miles north of New York City. The property offers both traditional guestrooms and suites, and amenities include an indoor pool, fitness center, business center and meeting and event space. The seller and sales price were not disclosed.

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AcquisitionsMidwestMissouriRetail

Newmark Arranges Sale of 92,613 SF Retail Building in Jefferson City, Missouri

by Kristin Harlow

JEFFERSON CITY, MO. — Newmark has arranged the sale of a 92,613-square-foot retail building net leased to Orscheln Farm & Home in Jefferson City. The sales price was undisclosed, but the asking price of $6.7 million represented a cap rate of 5.5 percent. Matt Berres, Samer Khalil, Karick Brown, Michael VanBuskirk and Chris Robertson of Newmark represented the seller, a private developer, and procured the undisclosed buyer. Orscheln Farm & Home took occupancy of the property in 2017 and signed a new 15-year lease in 2021. The retailer operates 175 stores in 11 states.

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AcquisitionsIndustrialMichiganMidwest

Dominion Brokers Sale of 8,870 SF Industrial Building in Troy, Michigan

by Kristin Harlow

TROY, MICH. — Dominion Real Estate Advisors has brokered the sale of an 8,870-square-foot industrial building located at 1237 E. 14 Mile Road in Troy for an undisclosed price. Barry Landau and Eric Banks of Dominion represented the long-time owner, Expert Collision. Matt Cole of L. Mason Capitani/CORFAC International represented the buyer, S.C. Warren Auto & Glass Inc., which will continue to use the building as an automotive paint and repair shop.

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