PLYMOUTH, MINN. — Marcus & Millichap has brokered the $11.3 million sale of a 64-unit townhome rental property in the Twin Cities suburb of Plymouth. Built in 1995, the property is situated along 18th Avenue near Parker Lake. Abe Roberts and Scott Harris represented the buyer and seller, neither of which were disclosed.
RALEIGH, N.C. — Alchemy Properties South, in partnership with New Valley Realty, has purchased two properties located in Raleigh for a combined $16 million. The site of the properties, which include a vacant lot at 303 S. Dawson St. and an adjacent retail building at 217 W. Martin St., will be redeveloped as a luxury residential building to feature up to 40 stories and 450 rental and condominium units. Morris Adjmi Architects and JDavis Architects will design the new building. Maxim Capital Group provided financing for the transaction. No construction timeline was disclosed.
LAWRENCE, KAN. — Quantum Real Estate Advisors Inc. has arranged the sale of a multi-tenant retail strip center in Lawrence for $3.5 million. Jersey Mike’s, which recently signed a new 10-year lease, anchors the property, which is located at 4801 Bauer Farm Drive. Zack Hilgendorf of Quantum represented the undisclosed buyer. The property sold to a family office based in Wichita.
BARABOO, REEDSBURG AND WYOCENA, WIS. — Greywolf Brokerage, a division of Greywolf Partners Inc., has negotiated the sale of a three-property portfolio of gas stations and convenience stores in Wisconsin for $1 million. The properties are located at 516 Ash St. in Baraboo, 306 E. Main St. in Reedsburg and 123 S. Washington St. in Wyocena. Together, the assets total 6,144 square feet. Steve Turner of Greywolf Brokerage represented the seller. Buyer and seller information was not provided.
MIAMI — Marcus & Millichap has arranged the sale of Keystone Shoppes, a 9,566-square-foot retail center located at 190 NW 42nd Ave. in Miami. Ruben Gonzalez and John Obando, private investors, acquired the property for $9.4 million. Jonathan De La Rosa of Marcus & Millichap marketed the center on behalf of the seller, Keystone Holdings. Chipotle Mexican Grill anchors the center.
HUTTO, TEXAS — Dallas-based investment firm SPI Advisory has acquired Skyview North, a 336-unit apartment community in the northern Austin suburb of Hutto. Formerly known as Prose Horizon, the property offers one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, tile backsplashes and full-size washers and dryers. Amenities include a pool, fitness center, clubhouse and a playground. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal. The seller and sales price were not disclosed.
LEWISBERRY, PA. — Lee & Associates has brokered the sale of a 189,000-square-foot industrial facility in Lewisberry, a southern suburb of Harrisburg. The distribution center at 525 Industrial Drive was built on a speculative basis and features a clear height of 32 feet, 45 loading docks and an ESFR sprinkler system. Bob Yoshimura, Joe Hill, Eric Mattson and Connor Sanbower of Lee & Associates represented the seller, a partnership between Boston-based firms High Street Logistics Properties and TA Realty, in the transaction.
LYNBROOK, N.Y. — Cushman & Wakefield has arranged a $27.2 million acquisition loan for Cornerstone Yorkshire, an 80-unit multifamily property located in the Long Island community of Lynbrook. The newly built complex houses a fitness center, clubroom and outdoor grilling and dining areas. John Alascio, Chuck Kohaut and T.J. Sullivan of Cushman & Wakefield arranged the loan on behalf of the borrower, The Birch Group.
PHOENIX — ABI Multifamily has arranged the sale of The Flats at 2030 Apartment Homes, a multifamily property located at 2030 W. Indian School Road in Phoenix. A Canada-based buyer acquired the asset from a Texas-based seller for $37 million, or $156,118 per unit. Alon Shnitzer Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented the buyer and seller in the transaction. Built in 1971, The Flats at 2030 Apartment Homes features 237 garden-style units spread across 11 residential buildings on 4.5 acres. The unit mix consists of 106 studios, 129 one-bedroom/one-bath units and two two-bedroom/one-bath units. Community amenities include two swimming pools, two laundry facilities, outdoor lounge areas, a Wi-Fi café, yoga studio, two enclosed dog parks, outdoor barbecue islands, valet trash services and free uncovered parking. Select interior and exterior renovations were made to the property in 2019 to 2022.
HENDERSON, NEV. — South Florida-based PEBB Enterprises has completed the disposition of Galleria Pavilion, a shopping center located at 601-617 Mall Ring Circle in Henderson. Dong Koo Kim and Jong Ok Kim, trustees of the Dong Koo Kim and Jong Ok Kim Family Trust, acquired the asset for $22.5 million. The 64,598-square-foot Galleria Pavilion is on an outparcel of Sunset Mall, a 1.1-million-square-foot retail center. At the time of sale, the multi-tenant Galleria Pavilion was 95 percent occupied. Current tenants include Buffalo Wild Wings, Panera Bread, Nothing Bundt Cakes, Aqua Tots and Plato’s Closet. PEBB originally purchased the property in October 2019, when it was only 37.4 percent occupied. Adam Malan and Deana Marcello of LOGIC Commercial Real Estate represented the seller, while Jennifer Lee of Berkshire Hathaway Home Services Nevada represented the buyers in the deal.