LONG BEACH, CALIF. — Keely Partners has acquired the 22-unit Anaheim Road Apartments in Long Beach for $8 million. The community is located at 5401 E. Anaheim Road. It was built in 1987. The community contains 22 two-bedroom/two-bathroom units. Robert Stepp and Michael Toveg of Stepp Commercial represented both buyer and the seller, a private trust, in this transaction.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Woodway on the Green, a 176-unit multifamily complex in Fort Worth, for an undisclosed price. The property is located near Harris Hospital and Hulen Mall. Al Silva, Mark McCoy and Ford Braly of Marcus & Millichap represented the seller, a private investor who developed the property in 1979. Lubbock-based Madera Residential purchased the complex and will implement a capital improvement plan.
MEMORIAL CITY, TEXAS — NAI Partners has negotiated a 47,000-square-foot industrial sublease at 9811 Katy Freeway in the western Houston suburb of Memorial City. Jon Silberman, John Ferruzzo and Nick Peterson of NAI Partners represented the tenant, data processing firm Fairfield Nodal, in the sublease negotiations. The name and representative of the sub-landlord were not released.
PHILADELPHIA — Marcus & Millichap has arranged the sale of Dynasty Court Apartments, an apartment building located at 1003-1011 Race St. in the Chinatown neighborhood of Philadelphia. A local partnership sold the property to a local development company for $16.6 million. The property features 56 apartments, five retail storefronts on Race Street and 21 parking spaces. Andrew Townsend, Ridge McLaren and Clarke Talone of Marcus & Millichap represented the seller, while Townsend, McLaren, Talone and Philip Sharrow, also of Marcus & Millichap, represented the buyer in the deal. Additionally, Matthew Rosenberg of Marcus & Millichap Capital Corp. arranged acquisition financing for the buyer.
MILWAUKEE — Zenith Tech Inc. has signed a 5,000-square-foot office lease in Milwaukee. The Wisconsin-based concrete contractor will occupy the space at 2202 W. Clybourn St. Sal Strehlow of Colliers International brokered the lease transaction. The landlord was not disclosed.
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has brokered the sale of a development site located at 1508 Herkimer St. in the Ocean Hill section of Brooklyn. Van Herk Realty sold the 20,000-square-foot site to 1508 Herkimer LLC for $12.8 million. The buyer plans to build a four-story office building on the site. Once completed, the property will be occupied by a city agency that was looking for more space. Robert Klein of KDA represented the seller, while Allison Chambers, also of KDA, represented the buyer in the transaction.
NEW YORK CITY — Rosewood Realty Group has arranged the sale of an apartment building located at 2197 Ocean Blvd. in Brooklyn’s Madison neighborhood. Shirben Ocean 2197 LLC sold the property to 2197 Ocean LLC for $10 million. Built in 1928, the six-story, 30,000-square-foot building features 35 apartments. Michael Guttman of Rosewood Realty represented the buyer, while Aaron Jungreis, also of Rosewood Realty, represented the seller in the transaction.
WEST NEW YORK, N.J. — Marcus & Millichap has arranged the sale of a mixed-use property located at 6700 Park Ave. in West New York. A private investor sold the 16,000-square-foot property for $2.9 million. The building features 18 apartment units and one commercial storefront. Andrew Zuckerman of Marcus & Millichap represented the seller and buyer, a private investor, in the deal.
OAK PARK, ILL. — Magnolia Capital has purchased Vantage Oak Park in Oak Park for an undisclosed price. Built in 2016, the 270-unit apartment building features a mix of studio, one- and two-bedroom units. Brian Eisendrath and Mike Bryant of CBRE arranged a 10-year Freddie Mac loan on behalf of Magnolia Capital for the acquisition. CBRE also brokered the sales transaction.
MANKATO, MINN. — Marcus & Millichap has arranged the sale of Hubbell Crossing in Mankato in southern Minnesota for $1.4 million. The 20-unit apartment building is located at 230 Hubbell Ave. Built in 1985, the property features two-bedroom units. Chris Collins, Dan Linnell, Josh Talberg and Mox Gunderson of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured the private buyer.