ACTON, MASS. — SVN | Parsons Commercial has negotiated the sale of a two-story retail strip center in Acton. The sales price was undisclosed. Located at 452 Great Road, the property sits on nearly two acres of land. The buyer, Surfloft LLC, will occupy a portion of the building, which will be the new site for its retail store, Surfside Pools and Sport Loft Ski Shop. Marci Alvarado and Jake Parsons ofSVN | Parsons Commercial represented Surfloft LLC in the transaction. Avison Young represented the seller, Worker’s Credit Union.
PEMBROKE PINES, FLA. — CBRE has negotiated the sale of Pembroke Place, a 158,463-square-foot shopping center in Pembroke Pines. Sedano’s grocery store, Crunch Fitness and Vargas University anchor the property, which is located 24 miles north of downtown Miami. Longpoint Realty Partners acquired the asset for an undisclosed price. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of Sterling Organization, in the transaction.
CHARLOTTE, N.C. — Ziff Properties has sold Terraces at University Place, a 65,112-square-foot shopping center in Charlotte’s University neighborhood. The asset was built in 2000 and was 97 percent occupied at the time of the sale to tenants including The Flying Saucer Draught Emporium, Que Onda Tacos, Iron Dish Korean BBQ, The Press Box Bar & Grill and Smoothie King. Tom Kolarczyk of HFF represented the seller in the transaction. LBX Investments acquired the property. Gregg Shapiro and Cory Fowler, also with HFF, arranged a 10-year, fixed-rate acquisition loan through TIAA Bank on behalf of the buyer. The sales price and loan amount were not disclosed.
GREENSBURG, PA. — Marcus & Millichap has arranged the $1 million sale of a 2,160-square-foot net-leased retail property in Greensburg. Located at 800 E. Pittsburgh St., the property is occupied by KeyBank. Jeremie Johnson and Nathan D. Whalen of Marcus & Millichap’s Indianapolis office represented the seller, a private investor, in the transaction. The buyer was a local investor.
LISLE, ILL. — Briar Meads Capital LLC has purchased a 300,000-square-foot office property located at 2441 and 2443 Warrenville Road in Lisle. The purchase price was not disclosed. Briar Meads plans to rebrand the property as The Westwood and work with Wright Heerema Architects to update amenities. Plans call for upgrades and expansions to the café, fitness center, conference center, lounges and outdoor areas in addition to renovations of the lobby and common area spaces. The asset consists of two office towers built in 1991 and 1997. Currently, 157,426 square feet of space is available for lease. Dan Svachula, Michael Simpson, Adam Showalter and Allyson Yates of Cushman & Wakefield will market the property for lease. NAI Hiffman will manage the property.
LINCOLN, NEB. — Investors Realty Inc. has brokered the sale of Williamsburg Apartments in Lincoln for $9.2 million. The 11-building, 138-unit complex is located at 3400 Serenity Circle. The property was constructed between 1978 and 1984. John Heine and R.J. Neary of Investors as well as Todd Watson of Century Sales & Management LLC represented the seller. The buyer, a private investor, purchased the asset as part of a 1031 tax-deferred exchange.
EDEN PRAIRIE, MINN. — First Washington Realty has purchased Prairie Village shopping center in Eden Prairie for an undisclosed price. Specialty grocery store Kowalski’s anchors the 78,313-square-foot shopping center. Effective immediately, the asset will be rebranded as Eden Prairie Village shopping center. The property is 98.4 percent leased. This is First Washington Realty’s third property in the Twin Cities.
ELK GROVE VILLAGE, ILL. — Lions Logistics has signed a 25,054-square-foot industrial lease in Elk Grove Village. The 50,117-square-foot building, located at 1260 Lunt Ave., is now fully leased. Chris Lydon and Chris Tecu of Avison Young represented the landlord, CenterPoint Properties. Main Street Real Estate Group represented Lions Logistics, a third-party logistics company. The building includes 2,929 square feet of newly constructed office space as well as two interior docks and one drive-in door.
LOS ANGELES — Meta Housing Corp., a Los Angeles-based developer, in a joint venture partnership with Western Community Housing, a Southern California-based nonprofit corporation, has broken ground on Vermont Corridor Apartments. The six-story, transit-oriented, affordable community is located in the Koreatown neighborhood of Los Angeles. The $51.4 million project will provide affordable housing for seniors age 62 and older earning between 25 and 60 percent of area median income. Of the 72 units to be built at the property, 36 will include supportive services funded through the County of Los Angeles’ Measure H and subsidized rents for residents experiencing varying levels of homelessness. These units were constructed with funding from Proposition HHH from the City of Los Angeles and a partnership with the Housing Authority of the City of Los Angeles (HACLA), the Los Angeles Housing and Community Investment Department (HCID) and the County of Los Angeles. “Affordable seniors housing is extremely difficult to find in Los Angeles,” says Kasey Burke, president of Meta Housing. “Los Angeles needs more affordable alternatives for older residents, and we are delivering that alternative in this project. This is a great example of public-private partnership working together to improve the community and the lives …
MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Modern on Gilbert, a multifamily community located at 1800 E. Covina St. in Mesa. S2 Capital acquired the property from a joint venture between Modern Residential Co. and Henley USA for $30 million, or $113,208 per unit. Developed in 1980, Modern on Gilbert is situated on more than 19 acres and features 265 apartments, a new clubhouse, fitness center, business center and package delivery center. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the transaction.