MIAMI BEACH, FLA. — CB Richard Ellis (CBRE) has completed the sale of a 54-unit multifamily property located in Miami Beach. AnNell Apartments is locaated 700 Euclid Ave. in the South Beach submarket. The CBRE team of Calum Weaver and Richard Tarquinio represented the seller, Investors Management Group, a Los Angeles-based private equity firm. The buyer was Bar Invest Florida, an all-cash foreign buyer. The acquisition price was not released.
FAIRFAX, VA. — Washington, D.C.-based Greysteel has negotiated the sale of Oak Knolls Realty Corp. for $10 million. Oak Knolls Realty Corp. is a Florida S corporation that controls a single asset, the Oak Knolls apartment community, which is located at 3979 Oak St. in Fairfax. The community currently contains 110 units, but the City of Fairfax recently released a comprehensive plan that encourages the rezoning of the property for high-density residential development. The Greysteel team of Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown represented the buyer, Capital Investment Advisors.
JACKSONVILLE, FLA. — Newmark Grubb Phoenix Realty Group (NGP) has brokered the sale of a Jacksonville flex industrial building for $5.2 million. Situated near the interchange of Interstate 95 and Baymeadows Road at 8813 Western Way, the property contains 168,125 square feet of office and warehouse space. Bobby Gatling and Bryan Bartlett of NGP represented the seller, COFE Properties Fund 1 – Western Way LLC. Bruce Jackson of CB Richard Ellis represented the undisclosed buyer.
DURHAM, N.C. — Berkeley Capital Advisors has arranged the sale of a McDonald’s absolute net ground lease for $1.37 million. The property, which is located in Durham, totals approximately 1.7 acres. McDonald’s has a new 20-year lease in place. Berkeley’s Steve Horvath and Jay Levell represented the undisclosed seller. The buyer was a private trust.
MILWAUKEE — Irgens, a Milwaukee-based developer, has sold its portfolio of six medical office properties, located throughout Wisconsin, Illinois and Arizona, for $46.5 million. Toby Scrivner, Jeff Matulis and Daniel Herrold of Stan Johnson Co. represented the seller in the transaction. The buyer was an institutional REIT out of New York. The properties within the portfolio were all triple-net leased to market dominant hospital systems with more than 10 years remaining on their leases.
GRAND BLANC, MICH. — Ciena Healthcare has opened Regency at Grand Blanc, a skilled nursing center located at 1330 Grand Pointe Court in Grand Blanc Township, about 10 miles south of Flint. The $10 million, 68,000-square-foot seniors housing property features 94 short-term and long-term care suites and includes 50 private suites. The new facility is expected to create more than 150 full- and part-time jobs.
CHICAGO — Marcus & Millichap has arranged the sale of a 37-unit multifamily property in Chicago for $3.8 million. Stephen Rachman, an investment specialist at Marcus & Millichap’s Chicago O’Hare office secured the buyer, a limited liability company. The apartment building is located at 905 W. Carmen Ave. The building was 100 percent occupied at the time of sale and features all new windows.
ANN ARBOR, MICH. — Knight’s Steakhouse has signed a 5,200-square-foot retail lease at the former Borders flagship store in Ann Arbor. Knights will occupy the corner space in the multi-use redevelopment project located on the central campus of the University of Michigan. The property, which is located at 600 E. Liberty St., will be Knight’s third restaurant in Michigan. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the landlord, Hughes Properties, and the tenant in the transaction.
BOOTHWYN, PA. — Meridian Capital Group LLC has arranged $18 million in permanent financing for the Meetinghouse Apartments & Townhouses, a multifamily property located in Boothwyn. Meridian arranged the 10-year loan on behalf of The Kaiserman Co. The apartment property includes 245 luxury apartment units and 122 townhomes located at 3131 Meetinghouse Road, about 22 miles south of Philadelphia. Irwin Wenger and Jim Bologno of Meridian Capital’s office in Iselin, N.J. arranged the financing.
ONEONTA, N.Y. — Marcus & Millichap has arranged the $6.9 million sale of a 12,000-square-foot Walgreens located at 99 Chestnut St. in Oneonta, about 50 miles south of Utica. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, the project developer. The Walgreens triple-net lease has 21 years remaining on the primary term and two rare five-year options followed by 40 one- year options. The site is located across from Hartwick College and is near the State University of New York College at Oneonta. The colleges have a combined enrollment of more than 7,300 students. Surrounding retailers include BJ’s Wholesale Club, Walmart Supercenter, The Home Depot, Advance Auto Parts and Lowe’s. The Marcus & Millichap Ft. Lauderdale office represented the buyer.
