FREDERICKSBURG, VA. — Coldwell Banker Commercial Elite has brokered the $3.8 million sale of an 11-acre multifamily site in Fredericksburg. The parcel is located off Noble Way close to the Wegmans at Celebrate Virginia and the 2.2 million-square-foot Central Park Power Center. The buyer, Hampton at Noble LP, a division of S.L. Nusbaum Realty Co., plans to develop a 128-unit luxury apartment community at the site. The property, known as Valor, will feature one-, two- and three-bedroom units with granite countertops and other high-end finishes. Community amenities will include a clubhouse, resort-style swimming pool, fitness center and outdoor grilling area. Hampton at Noble plans to deliver the clubhouse in the fourth quarter and deliver Valor’s first units in the first quarter of 2017. Brian Cunningham of Coldwell Banker Commercial Elite brokered the transaction.
DECATUR, GA. — The Boulder Group has arranged the $3.6 million sale of a 10,125-square-foot CVS/pharmacy located at 4037 Glenwood Road in Decatur, a suburb of Atlanta. Originally built in 1999, the asset has 21 years remaining on a recently extended lease, which features five five-year renewal option periods with 5 percent rental escalations in each period. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a real estate institution based in Atlanta’s East Cobb district, in the transaction. The buyer was a high net worth family trust.
PHOENIX — Cushman & Wakefield has arranged the sale of the former Giant Industries corporate headquarters office building in Phoenix for $8.5 million. United Insurance Co. of America sold the asset to Generations at Pinnacle Peak LLC, a Michigan-based investor that plans to convert the office property into an assisted living community. The two-story building was constructed in 1989 and contains approximately 66,283 square feet of space. The structure is situated on four acres of land. Larry Downey, vice chairman for Cushman & Wakefield, represented the seller in the transaction.
LITTLETON, COLO. — A 54-unit apartment building in Littleton has sold to an out-of-state buyer for $8.3 million. The community, called Broadridge Apartments, is located at 6900 S. Bannock St. It was built in 1965. Jeff Johnson and Matt Ritter, with the Johnson Ritter Team of Pinnacle Real Estate Advisors represented the buyer. Josh Newell of the same firm represented the seller.
ROCHESTER, MINN. — Mid-America Real Estate Corp. has brokered the sale of a 140,578-square-foot retail property in Rochester, approximately 80 miles southeast of Minneapolis. Texas-based Epic Real Estate Partners purchased the asset, located at the intersection of South Broadway and U.S. Highway 52, from Illinois-based Inland Private Capital for an undisclosed price. Broadway Commons features tenants such as Bed Bath & Beyond, Dress Barn, DSW Shoe Warehouse, Famous Footwear and Michaels. Carly Gallagher and Michael Sims of Mid-America Real Estate represented the seller in the transaction.
PHOENIX — Gabriel Partners has signed a long-term agreement for 19,202 square feet of office space in downtown Phoenix. The space is located at 40 North Central Ave. The technology-based, anti-money-laundering company will occupy the entire 22nd floor. Ryan Bartos and Matthew Coxhead of Savills Studley represented Gabriel Partners in the transaction. Pat Divine of Cushman and Wakefield represented the landlord.
KANSAS CITY, MO. — An affiliate of GFI Capital Resources Group has acquired a luxury 137-unit apartment complex in Kansas City for an undisclosed price. RMwest, which is located less than two blocks from the Kansas City Streetcar line, consists of one- and two-bedroom units. Each residence features granite countertops, stainless steel appliances, vinyl plank flooring, a washer and dryer and a patio or deck. Monthly rents at RMwest, range from $1,300 to $1,900. Community amenities include a covered parking garage, saltwater pool and sundeck, indoor lounge, game room and workspace areas. The entire building, which is located at 228 W. 4th St., is also wired for Google Fiber. CBRE represented the buyer in the transaction. The seller is undisclosed.
NAPERVILLE, ILL. — Avison Young has negotiated the sale of a two-building medical office portfolio in Naperville, a western suburb of Chicago, for an undisclosed price. Quadrangle Development Co. sold the two assets that total 70,000 square feet to a California-based healthcare REIT, American Healthcare Investors. The Class A buildings are 90 percent occupied. A three-story, 50,000-square-foot building, located at 1020 E. Ogden Ave., is anchored by DuPage Medical Group. The second building, which is located at 1012 W. 95th St., is 20,000 square feet and is anchored by Adventist Health System.
WEST VALLEY CITY, UTAH — Land Advisors has purchased the 61,630-square-foot Honeyville Grain Building in West Valley City for an undisclosed sum. The property is located at 1811 W. Alexander St., within the Decker Lake Business Complex. The seller, Intercon, formerly occupied the building. The company was represented by Luke Burbank of Newmark Grubb ACRES.
AUBURN HILLS, MICH. — SVN/ Stewart Commercial Group LLC has brokered the sale of a 15,600-square-foot shopping center for $6.9 million, or $445 per square foot. The property, located at 4901-4931 Baldwin Road in Auburn Hills, was 100 percent leased at the time of sale. Tenants in the shopping center, which is 33 miles northwest of Detroit, include Sherwin Williams, Chipotle, Aspen Dental, Potbelly Sandwich Shop and Visionworks. The property was built in 2015. Vladimir Hritcu and Dan Stewart of SVN/Stewart Commercial represented the undisclosed buyer in the transaction. The seller in the transaction was also undisclosed.