DALLAS — Morning Calm Management, an investment and management firm based in South Florida, has purchased Towers at Park Central, an 875,000-square-foot office complex located at the corner of LBJ Freeway and U.S. Highway 75 in North Dallas. Towers at Park Central features a conference facility with training rooms, fitness center, tenant lounge and onsite food options, and the undisclosed seller previously invested more than $7 million in capital improvements during its hold period. Tenants include SCP Health, foodmaker Daisy Brand and insurance company Arthur J. Gallagher. Morning Calm Management has tapped Newmark to lease the complex.
COLLEGE STATION, TEXAS — Tailwind Group has acquired Campus Crossings on Marion Pugh, a 628-bed student housing property located near Texas A&M University in College Station. The community comprises 30 residential buildings offering a mix of one- and two-bedroom units. Shared amenities include two pools, a clubhouse, business center, dog park, fire pits and barbecue grills, as well as sand volleyball, tennis and basketball courts. The new ownership has plans to rebrand the property and invest in significant capital improvements. Campus Apartments sold the property. Brandon Buell of Berkadia brokered the deal.
AZLE, TEXAS — Marcus & Millichap has brokered the sale of Azco Center Point Storage, an 276-unit facility in Azle, located northwest of Fort Worth. The facility spans 37,228 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local investment group, and procured the buyer, a private partnership, in the transaction.
ENGLISHTOWN, N.J. — F.M. Ferrari Investments has acquired Royal Pines at Marlboro, an 89-unit active adult community in Englishtown, located in the Garden State’s Raritan Valley area. The sales price was $29.9 million. Built in 2008, Royal Pines at Marlboro offers one- and two-bedroom units that are mostly restricted to renters age 55 and above. Amenities include a fitness center, business center, game room, library and outdoor grilling and dining areas. Michael Oliver, Jose Cruz, J.B. Bruno, Steve Simonelli and Michael Zlotnick of JLL represented the seller, a joint venture between GRJ and Castellan Real Estate Partners, in the transaction.
WAYNE, N.J. — Cushman & Wakefield has negotiated the $22.2 million sale of Oak Hill Park, a 122,600-square-foot medical and office complex in Wayne, about 25 miles west of New York City. The two-building complex was recently renovated and was 95 percent leased at the time of sale. Frank DiTommaso, David Bernhaut, Andy Merin, Gary Gabriel and Seth Zuidema of Cushman & Wakefield represented the seller, Chopp Holdings, in the transaction. Brad Domenico of Progress Capital arranged acquisition financing on behalf of the undisclosed buyer.
LOWELL, MASS. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 90-bed skilled nursing facility in Lowell, a northern suburb of Boston. Located near Lowell General Hospital, the facility has historically maintained stable census levels with a steady stream of referrals and admissions, according to Blueprint. The regional buyer plans to implement a capital improvement program. The seller, price and name of the community were not disclosed.
TOTOWA, N.J. — Illinois-based investment firm Venture One Real Estate and Kovitz Investment Group have acquired a 67,048-square-foot industrial building in the Northern New Jersey community of Totowa. The building at 5 Taft Road, which was fully leased at the time of sale, features a clear height of 20 feet, six exterior docks, two drive-in doors and additional outdoor storage space. Jeffrey Fulton and Ed Schein of Team Resources represented Venture One in the transaction. The seller and sales price were not disclosed.
CHICAGO — Marcus & Millichap has brokered the sale of a 25-unit multifamily property in Chicago’s Streeterville neighborhood for $10.5 million. The property at 227 E. Walton Place rises 13 stories. Designed by Chicago architect Harry Weese, the building was completed in 1956 and designated a Chicago landmark in 2012. Of the 25 units, 24 have been updated, mostly in the last three years. Kyle Stengle, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, Brad Management, which previously worked with the same brokerage team to acquire the property through a condo deconversion in 2018. The buyer, Altitude Capital Partners, plans to modernize the common areas.
BURNSVILLE, MINN. — CBRE has arranged the sale of the DuPont Distribution Center in Burnsville, about 15 miles south of downtown Minneapolis. The sales price was undisclosed. The 177,153-square-foot industrial property is fully occupied by four tenants and features fenced and paved outdoor storage. Judd Welliver and Bentley Smith of CBRE represented the seller, Biynah Industrial Partners LLC. Sterling Management was the buyer.
CHICAGO — Peak Realty Chicago (PRC) has brokered the sale of a six-unit apartment building in Chicago’s Logan Square neighborhood for $2.7 million. The sales price marks the highest price per unit in the submarket, according to CoStar. A private investor purchased the property, which is located at 2852-54 W. Shakespeare Ave. and has been renovated within the last five years. Oren Pollack of PRC brokered the transaction. At the time of sale, the building was managed by PRC’s affiliate, Peak Properties LLC.