PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of The Pavilion, a 24-unit complex in Paris, located about 100 miles northeast of Dallas. According to Apartments.com, the property was built in 1984 and offers one- and two-bedroom units ranging in size from 750 to 950 square feet, as well as outdoor grilling and dining areas and a dog park. Chase Davis of TMG represented the buyer and seller, both of which requested anonymity, in the transaction.
WOODBURY, CONN. — Marcus & Millichap has arranged the sale of a self-storage development site in Woodbury, located in the western part of the state, that is approved for 217 units across 23,690 net rentable square feet of climate-controlled space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.
BRISTOL, PA. — NAI Mertz has brokered the sale of a 23,433-square-foot office building in Bristol, located northeast of Philadelphia in Bucks County. Zena Charokopos and Rick Gordon of NAI Mertz represented the seller in the transaction. Adam Lashner and Jeff Licht, also with NAI Mertz, represented the buyer, which plans to use the property as an adult care facility. Both parties requested anonymity.
PERRIS, CALIF. — An Ares Management fund has acquired an industrial building, located at 100 Walnut Ave. in Perris, from 100 Walnut LLC for $59.3 million. Built in 2022 on 9.6 acres, the 205,589-square-foot property features 36-foot clear heights, 27 dock doors and 1,200 amps of power. GPA Logistics currently occupies the entire building. Cody Lerner of Avison Young represented the buyer, while Carol Taubman of Westgate Industrial Properties represented the seller in the deal.
SAN DIEGO — JLL Capital Markets has arranged $20.6 million in acquisition financing and joint-venture equity for a multi-tenant corporate headquarters and distribution facility located at 2425 Auto Way in Escondido. The borrower is a joint venture between Stos Partners and a private investor. Aldon Cole and Brad Vansant of JLL Capital Markets Debt & Structured Finance arranged the short-term, floating-rate loan through an insurance company. Sound Image and Goodman fully lease the 88,690-square-foot facility, which features 20-foot to 22-foot clear heights, dock- and grade-level loading doors, 200 parking spaces and 10,000 square feet of office space.
BRIGHTON AND NORTHGLENN, COLO. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Brighton Care Center, a 108-bed skilled nursing facility located in Brighton, and Malley Transitional Care Center, a 162-bed skilled nursing facility located in Northglenn. These acquisitions are subject to a long-term, triple-net lease. “We are excited about growing in Colorado,” says Barry Port, Ensign’s CEO. “These facilities are a great fit to our existing portfolio and we look forward to the contribution each will have in our operational market and clusters in Colorado.” This acquisition brings Ensign’s growing portfolio to 271 healthcare operations, 26 of which also include senior living operations, across 13 states.
RIVERSIDE, CALIF. — Progressive Real Estate Partners has arranged the sales of two adjacent single-tenant retail properties that. Private investors acquired the properties in separate deals for a combined total of $4.2 million. Greg Bedell of Progressive Real Estate Partners represented the Los Angeles-based seller for both transactions. The transactions are: The $2.1 million, or $920 per square foot, sale of 3940 University Avenue. Plant Power, a fast-casual drive-thru restaurant with patio, occupies the 2,250-square-foot building. The $2.1 million, or $614 per square foot, sale of 3980 University Avenue. Richie’s Hot Chicken and Carlo’s Tijuana Tacos are tenants at the 3,500-square-foot building.
LAKEWOOD, WASH. — Marcus & Millichap has brokered the sale of an industrial building located at 2520 112th St. S in Lakewood. A limited liability company sold the asset for $3.4 million. The buyer is a locally owned vehicle upfitter for law enforcement agencies and will occupy the 19,200-square-foot property for its own use. Matthew Herman and Stren Lea of Marcus & Millichap’s Seattle office represented the seller in the deal.
ORLANDO, FLA. — Newmark has arranged the sale of Sawgrass Apartments, a 208-unit multifamily community located at 2859 South Conway Road in Orlando. The McKinley Cos., a multifamily investment firm based in Ann Arbor, Mich., acquired the property from Philadelphia-based PRG Real Estate for $50 million. Apartments feature studio, one-, two- and three-bedroom layouts that range in size from 658 to 1,117 square feet. Amenities at the community — which underwent $2.5 million in capital improvements in 2008 — include a lakeside dining area, sundeck and swimming pool, fitness center, pet park, car care center and electric vehicle charging stations. Scott Ramey, Ryan Moody, Patrick Dufour, Brad Downing, Andrew Visnick and Paul Grant of Newmark brokered the transaction. The buyer plans to rebrand Sawgrass Apartments as The Frederick, according to McKinley.
NASHVILLE, TENN. — Matthews Real Estate Investment Services has brokered the sale of a 10,656-square-foot shopping center located at 6700 Charlotte Pike in Nashville, about six miles outside of the city’s downtown district. The property is currently under construction and is fully preleased to tenants including Chase Bank, Pacific Dental Services and Sleep Outfitters, all of which are on 10-year leases. Hutt Cooke and Clay Smith of Matthews represented the seller, a partnership of five individual investors, in the $8.4 million, all-cash transaction. An undisclosed private investor acquired the property in a 1031 exchange.