LEXINGTON, KY. — An 88-unit multifamily property, located at 1740 Jennifer Drive in Lexington, has sold for $1.3 million. Fred Sutterlin and Reed Weinberg of PRG Investments represented the seller in the transaction.
Southeast
OLIVE BRANCH, MISS. — Cushman & Wakefield has arranged the sale of the 1.1 million-square-foot Williams-Sonoma National Distribution Center, located in Olive Branch. The cross-docked facility is leased on a triple-net basis to William-Sonoma Retail Services. Stewart Calhoun and Robert Elms of Cushman & Wakefield, along with Dave Curran of Cushman & Wakefield/Commercial Advisors, represented the seller, a private investor, in the transaction. American Realty Capital was the buyer.
MARCO ISLAND, FLA. — A 12,000-square-foot office building, located at 900 N. Collier Blvd. in Marco Island, has sold for $2.75 million. David Stevens of Investment Properties Corp. of Naples represented the buyer, 900 North Collier Blvd. LLC, in the transaction. The seller was David Nassif as trustee under the land trust.
QUINCY, FLA. — A 9,000-square-foot Dollar General store, located in Quincy, has sold for $1.08 million. Rich Murphy and Stephen Counts of Calkain Cos. represented the buyer, a Colorado-based private investor, in the transaction. Brett Butler and Andrew Peeples of Stan Johnson Co. represented the seller.
ESSEX AND PARKVILLE, MD. — Beech Street Capital has provided two loans for the 611-unit Kings Mill Apartments, located at 1460 Hadwick Drive in Essex, and the 296-unit Tall Oaks Apartments, located at 1002 Pleasant Oaks Road in Parkville, totaling $33 million. Adam Bieber of Beech Street arranged the 10-year, fixed-rate loans with 9.5 years of yield maintenance and a 30-year amortization schedule on behalf of the borrower, a Baltimore-based developer and manager.
STUART, FLA. — Strategic Storage Trust has acquired eight self-storage facilities, located in South Carolina, Florida and Georgia, totaling 3,770 units. The purchase included: a 370-unit property, located at 1990 NW Federal Highway 1, and a 380-unit property, located at 6195 S. Kanner Highway in Stuart; a 590-unit property, located at 1060 King George Blvd., and a 450-unit property, located at 782 King George Blvd. in Savannah, Ga.; a 490-unit property, located at 512 Percival Road in Columbia, S.C.; a 660-unit property located at 298 Red Cedar St. in Bluffton, S.C.; a 250-unit property, located at 890 St. Peters Church Road, and a 580-unit property located at 120 Northpoint Drive in Lexington, S.C. The sites will be rebranded under the SmartStop Self Storage name.
HOLLYWOOD AND DANIA BEACH, FLA. — KTR Capital Partners has purchased a 13-building industrial flex/warehouse portfolio totaling 520,000 square feet, located in Hollywood and Dania Beach. The properties range in size from 24,000 square feet to 64,000 square feet. The portfolio is 95 percent leased. The company plans to invest additional capital to reposition the assets.
MIAMI — Marcus & Millichap has arranged the $3.25 million sale of a two-tenant, net-leased retail property, located at 12605 Biscayne Blvd. in Miami. The building is leased to T-Mobile, which signed a seven-year lease in 2011, and Smoothie King, which has a five-year lease. Drew Kristol and Kirk Olson of Marcus & Milichap represented the seller, a Miami Beach, Fla.-based limited liability company, in the transaction.
MONCKS CORNER, S.C. — A 29-unit multifamily property, located on Gulledge Street on Moncks Corner, has sold for $1.05 million. David Ingle of NAI Avant's Charleston, S.C., office represented the seller in the transaction. Delaware-based DC Realty Advisors was the buyer.
COLUMBIA, S.C. — Passco Cos. has purchased the 240-unit Broad River Trace, a Class A multifamily property located at 550 River Hill Circle in Columbia. Amenities include a resort-style pool, clubhouse with Wi-Fi service and a fishing pond. Sean Wood, Blake Okland, Dean Smith and John Heimburger with ARA represented Shoptaw Group, the seller, in the transaction and procured the buyer.