HYANNIS, MASS. — Linchris Hotel Corp., a Massachusetts-based hospitality owner-operator, has acquired the 266-room Cape Codder Resort & Spa in Hyannis. The resort houses four food-and-beverage concepts, a waterpark, fitness center, indoor and outdoor pools, a pickleball court and 18,000 square feet of meeting and event space. Alan Suzuki and Matthew Enright of JLL represented the seller, Catania Hospitality Group, in the transaction. Greg LaBine and Amy Lousararian, also with JLL, arranged acquisition financing through HarborOne Bank on behalf of the buyer.
GADSDEN, ALA. — An affiliate of Phoenix Investors has purchased an approximately 3 million-square-foot industrial campus located at 1000 Goodyear Ave. in Gadsden, which is roughly midway between Birmingham and Chattanooga along I-59. Global tire manufacturer Goodyear was the former occupant of the property, which is currently vacant. Adam Wolinetz of CBRE arranged an undisclosed amount of acquisition financing through International Bank of Commerce on behalf of Phoenix Investors. The seller and sales price were not disclosed. Renovated in 2015, the 156-acre park features 30 dock doors and clear heights of up to 30 feet, as well as ample car and trailer parking, rail access and proximity to I-759 and I-59. Phoenix Investors plans to make numerous capital and cosmetic improvements to repurpose the park and boost tenancy. The Milwaukee-based owner says the available space is easily divisible for multi-tenant occupancy and will be marketed in the near future for lease.
MYRTLE BEACH, S.C. — Cushman & Wakefield has arranged the $78.4 million sale of two adjacent multifamily communities in Myrtle Beach’s Little River submarket. The assets include The Banks at Bridgewater, a new 252-unit multifamily community, and Stepping Stone at Bridgewater, a 44-unit build-to-rent community. Tai Cohen, John Phoenix and Louis Smart of Cushman & Wakefield represented the seller, Wakefield Residential, in the transaction. PassiveInvesting.com, a private equity real estate investment firm based in the Carolinas, was the buyer. Craig Davis Properties developed Banks at Bridgewater earlier this year. The property’s amenities include a coffee bar, on-demand yoga, saltwater pool, walking trails and units featuring built-in workspaces. Built in 2020, Stepping Stone at Bridgewater comprises two-bedroom/two-bath duplexes with attached garages in a neighborhood, cul-de-sac-style setting.
STEUBENVILLE, OHIO — Sekulovski Group has arranged the $14 million sale of Rural King Plaza, a 215,360-square-foot shopping center located in Steubenville, roughly 40 miles west of Pittsburgh. A Brooklyn-based private investor acquired the property from PICOA Inc. of Los Angeles. Tony Sekulovski of Sekulovski Group brokered the transaction. Anchor Rural King, a farm supply store, occupies 104,230 square feet at the retail center, which was 97 percent leased at the time of sale. Other tenants at the property include Ollie’s and Planet Fitness, which occupy 43,600 and 20,365 square feet, respectively. A 17,000-square-foot Dollar Tree and a Kay Jewelers store also occupy the center.
LIBERTY, MO. — Northmarq has arranged the sale of Jefferson Park East, a 208-unit multifamily property in the Kansas City suburb of Liberty. Built in 1987, the value-add community is located at 1220 Missouri Court. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, Kansas City-based Maxus Properties. The buyer and sales price were not provided.
MAYWOOD, ILL. — Colliers has negotiated the sale of a 79,869-square-foot industrial building in Maywood, a western suburb of Chicago. The sales price was undisclosed. Completed in August, the property at 1900 Maywood Drive features a clear height of 32 feet. Built on a speculative basis, the development was leased to The Kroger Co. upon completion. Jeff Devine and Steve Disse of Colliers represented the seller, DSI Development. California-based Pacifica Real Estate was the buyer.
KENNESAW, GA. — Franklin Street has brokered the $13 million sale of Town Center Commons, a 72,168-square-foot shopping center located at 725 Ernest W. Barrett Parkway in Kennesaw, a northwest suburb of Atlanta. Nashville-based 615 Ventures purchased the retail center from Ardent Cos. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. Town Center Commons is anchored by Public Lands, the first Southeast location of a new outdoors and sporting goods retail concept from Dick’s Sporting Goods. Other tenants include Five Below, which recently renewed its lease, as well as The Original Mattress Factory, Affordable Dentures & Implants, Town Center Nails, K-Town Vapor Lounge, Automation Personnel Services and Pinch of Spice. The center, which is shadow-anchored by Dick’s Sporting Goods and Costco, was 96 percent leased at the time of sale.
TAMPA, FLA. — Colliers Mortgage has provided a Fannie Mae loan for the acquisition of French Quarter Apartments, a 57-unit multifamily community in Tampa. Built in 1968, the market-rate property features one- and two-bedroom units, as well as laundry facilities, a picnic area, barbecue grills, Spanish-speaking staff and a pool. Fritz Waldvogel of Colliers Mortgage’s Minneapolis office originated the seven-year loan on behalf of the undisclosed borrower.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $33.6 million sale of a portfolio of six South Bronx multifamily buildings totaling 297 units. The portfolio consists of 14 studios, 67 one-bedroom apartments, 196 two-bedroom units, 19 three-bedroom residences and one office space. Victor Sozio, Shimon Shkury, Daniel Mahfar and Jason Gold of Ariel represented the undisclosed seller in the transaction. The buyer was a partnership between PH Realty Capital & Rockledge.
WALTHAM, MASS. — Marcus & Millichap has brokered the sale of a 16,637-square-foot office building located at 230 Second Ave. in Waltham, a western suburb of Boston. The sales price was $3.4 million. The property was fully leased to six tenants at the time of sale. Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller, an entity doing business as Eastport 230 LLC, in the transaction. The duo also procured the buyer, a private investor that acquired the asset via a 1031 exchange.