HOUSTON — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Glenwood Apartment Homes, a 60-unit multifamily property in Houston. Built in 1981, the property features one- and two-bedroom units with an average size of 971 square feet that are furnished with granite countertops, walk-in closets and washer/dryer connections. Communal amenities include a pool and onsite laundry facilities. Bryce Smith of TMG represented the buyer and seller, both of which requested anonymity, in the transaction.
GREENVILLE, S.C. — The retail division of SVN | Blackstream, dubbed Reedy River Retail, has negotiated the $10.7 million sale of Woodruff Village Shopping Center in Greenville. Located at 1810-1848 Woodruff Road, Woodruff Village’s tenant roster includes Planet Fitness, Social Latitude and Habitat for Humanity’s Restore. Daniel Holloway and Dustin Tenney of Reedy River Retail represented the seller, an entity doing business as Woodruff Investment National Exchange LLC, in the transaction. Rox Pollard of Colliers represented the buyer, Greensboro, N.C.-based MarBro Realty LLC.
STRONGSVILLE, OHIO — Marcus & Millichap has negotiated the $15.9 million sale of the Cleveland Clinic Southpark Center in Strongsville, a southern suburb of Cleveland. The medical office building, located at 16761 Southpark Center, spans 166,524 square feet. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company. An Ohio-based real estate investment trust purchased the medical office building. The property sold above list price at a cap rate of 4.95 percent.
DUBLIN, OHIO — Hanley Investment Group Real Estate Advisors has arranged the sale of Perimeter Center in Dublin for $35 million. Giant Eagle Market District anchors the 139,486-square-foot shopping center, which is fully leased. Additional tenants include Chipotle, Edward Jones, Enterprise Rent-A-Car, Sport Clips, UPS Store and Jersey Mike’s Subs. The property was built in 1995. Kevin Fryman and Ed Hanley of Hanley Investment Group, in association with ParaSell Inc., represented the 1031 exchange buyer, an affiliate of California-based Orton Development Inc. Clinton Mitchell, Amy Sands and Michael Nieder of JLL represented the seller, an institutional owner. Chris Knight of JLL arranged a 10-year, fixed-rate acquisition loan through Mutual of Omaha Insurance Co. on behalf of the buyer.
NASHVILLE, TENN. — Brookfield Properties has inked a 37,429-square-foot office lease at Fifth + Broadway, a mixed-use development in downtown Nashville. The tenant, law firm Polsinelli, is relocating from nearby Truist Plaza to the 501 Commerce office building. Stewart Lyman of Cushman & Wakefield and Rob Lowe of Stream Realty Partners represented Brookfield Properties in the lease negotiations. Harrison Johnson, Kevin McLennan, Ian Murphy and Brad Serot of CBRE represented Polsinelli. In addition to the 367,000-square-foot 501 Commerce building, Fifth + Broadway also includes a residential tower with over 380 units, approximately 200,000 square feet of retail and dining, including the Assembly Food Hall, and the National Museum of African America Music. Developed by OliverMcMillan before being acquired by Brookfield Properties, Fifth + Broadway opened in 2020.
EVANSTON, ILL. — Energy, engineering and resource consulting firm Grumman/Butkus Associates has signed a 26,000-square-foot office lease renewal at 820 Davis Street in Evanston. The newly renovated building rises five stories and spans 85,985 square feet. The owner, Free Market Ventures, updated the exterior façade, lobby, common areas and amenities. Adam Showalter and Jessica O’Hara of Stream Realty Partners represented the landlord in the lease. Grumman/Butkus has occupied space in the building for the past 20 years.
TRENTON, OHIO — Northmarq has arranged a $2.6 million loan for the acquisition of Trenton Avenue Apartments in Trenton, a suburb of Cincinnati. The 52-unit multifamily property comprises multiple buildings. Chase Dawson of Northmarq arranged the fixed-rate loan, which features an 80 percent loan-to-value ratio, a five-year term and a 25-year amortization schedule. A regional bank provided the loan to the undisclosed borrower.
AUSTIN, TEXAS — Locally based developer Industry ATX has broken ground on Industry SOMA, a 23-unit affordable housing project in Austin’s South Menchaca neighborhood. The townhome-style residences will be reserved for households earning 80 percent or less of the area median income. Mark Odom Studio designed the project, which is slated for a fall 2025 completion.
SOUTH PLAINFIELD, N.J. — Lee & Associates has brokered the $36.5 million sale of a 200,000-square-foot industrial property located at 18-20 Harmrich Road in South Plainfield, about 40 miles south of Manhattan. The two-building property sits on 18 acres and features clear heights of 28 feet, multiple loading docks and additional outdoor storage space. Rick Marchisio, Crista Governara and Drew Maffey of Lee & Associates represented the undisclosed seller and the buyer, Boston-based investment firm Marcus Partners, in the off-market transaction.
EAST GREENBUSH, N.Y. — Commercial finance and advisory firm Axiom Capital Corp. has arranged an $11.6 million permanent loan for the refinancing of a 194,889-square-foot shopping center located in the Upstate New York community of East Greenbush. The property comprises five buildings on a 33.3-acre site and is currently leased to 19 tenants. Axiom Capital arranged the 10-year, fixed-rate loan on behalf of the undisclosed borrower. The name of the direct lender and property were also not disclosed.