AUBURN, MAINE — Cardente Real Estate has arranged the sale of a warehouse building located at 279 Washington St. South in Auburn. Maurice Eastman and Lauren Eastman sold the 5,500-square-foot property to an undisclosed buyer. Cheri Bonawitz of Cardente Real Estate represented the seller, while Greg Perry, also of Cardente Real Estate, represented the buyer in the transaction.
NORTH PLAINFIELD, N.J. — Marcus & Millichap has arranged the sale of Grove Plaza, a retail property located at 789 Route 22 West in North Plainfield. A private investor sold the 19,845-square-foot property for $1.9 million. Alan Cafiero, Ben Sgambati and Brent Hyldahl of Marcus & Millichap represented the seller and buyer, a private investor, in the deal.
WEST MIAMI, FLA. — Chicago-based Waterton has purchased Soleste West Gables II, a 221-unit apartment community located at 2001 Ludlam Road in West Miami. Estate Investments Group (EIG), in partnership with Fortune Capital Partners and Mattoni Group, sold the asset to Waterton for $59 million. Completed in September, the community features studio, one- and two-bedroom units. Community amenities include a pool, resident lounge, movie theater, fitness center and a community park with a children’s playground. Waterton acquired the adjacent sister community Soleste West Gables in August 2016. Both properties have been renamed District West Gables.
NORCROSS, GA. — Cushman & Wakefield has brokered the $55.4 million sale of two apartment communities in Norcross, roughly 25 miles northeast of Atlanta. The portfolio includes the 386-unit Sienna Heights, which sold for $32.2 million, and the 301-unit Hickory Grove, which sold for $23.2 million. Tyler Averitt and Robbie O’Bryan of Cushman & Wakefield represented the seller, Schorr Investments, in the transaction. Comunidad Realty Partners acquired both properties. Constructed in 1972, Sienna Heights features a business center, playground, fitness center, soccer field and biking, hiking and jogging trails. Built in 1979, Hickory Grove features a picnic area, laundry facility, pool, playground and a sports court.
ATLANTA — The Collective, a new food hall concept, is set to join the forthcoming Coda development underway at 771 Spring St. in Midtown Atlanta’s Tech Square. The Collective will include eight to 10 eateries with communal seating areas opening up into a 20,000-square-foot outdoor space. The historic three-story Crum & Forster building located on the property will serve as an 8,000-square-foot, full-service restaurant with patio seating that will transition to the outdoor space. In addition to several prospective dining options, preliminary plans include a full-service central bar that will enable patrons to take advantage of open carry that will be permitted at Coda. Under development by Portman Holdings, Coda will feature 645,000 square feet of office space, an 80,000-square-foot data center, 30,000 square feet of street-level retail and the new food hall upon completion. Adrienne Crawford and Lily Heimburger of SRS Real Estate Partners are spearheading restaurant leasing for The Collective at Coda, which is slated to open in February 2019. Portman Holdings is also developing the neighboring Anthem Technology Center, a new 21-story, 352,000-square-foot building that will rise at the corner of 4th and West Peachtree streets.
DAVENPORT, FLA. — CBRE has arranged the $31.5 million sale of Village at Town Center, a 240-unit multifamily community in the Central Florida town of Davenport. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller, Chicago-based VennPoint Real Estate, in the transaction. New York-based Beachwold Partners LP acquired the property. Village at Town Center features a clubhouse, resort-style pool, fitness center, tennis court and water views. At the time of sale, the community was more than 90 percent occupied.
DALLAS — Marcus & Millichap has brokered the $92.8 million sale of nine multifamily properties totaling 1,798 units in Texas. Six of the properties accounting for 570 units are located in the Dallas-Fort Worth (DFW) metroplex. The sale also includes the disposition of the 70-unit Pinehurst Apartments in Longview, the 176-unit Crosswinds Apartments in Corpus Christi and a portfolio of properties located in Pasadena totaling 982 units. Nick Fluellen and Bard Hoover of Marcus & Millichap led the investment sales effort on each transaction. The names of the sellers and buyers for each asset were not disclosed.
FRISCO, TEXAS — MYCON General Contractors has completed construction of a 188,564-square-foot Walmart Supercenter store at 355 Stonebrook Parkway in Frisco. The big box property features surface parking and extensive landscaping. Raymond Harris & Associates provided architectural services for the project, construction of which began in July 2016. This is the 25th new construction project that MYCON has completed for Walmart in Texas since 2009.
IRVING, TEXAS — Bridge Investment Group LLC has purchased Tower 1320, a 243,109-square-foot, Class A office tower located within the 12,000-acre Las Colinas business district in Irving. Built in 1981, the 10-story tower features an adjacent two-story parking deck with 1,045 spaces. Evan Stone, Gary Carr, Eric Mackey, John Alvarado, Jared Chua, Robert Hill and Mary Claire Houseman of CBRE represented the seller, Arden Group, in the transaction. Peloton Commercial Real Estate will handle the marketing and leasing of the property.
FRISCO, PROSPER AND WAXAHACHIE, TEXAS — SHOP Cos. has brokered the sale of three retail centers totaling 43,026 square feet in the Dallas-Fort Worth (DFW) metroplex. Miami-based Antegrade Holdings purchase the 20,823-square-foot Frisco Market Center; a Texas-based limited liability company acquired the 10,149-square-foot La Cima Crossing in Prosper; and an Oklahoma-based investor bought the 12,054-square-foot Waxahachie Retail Center. Each of the centers was 100 percent leased at the time of sale.
