SHREVEPORT, LA. — Transwestern has arranged the $9 million sale of East Side Plaza, a 78,761-square-foot shopping center located at 7460 Youree Drive in Shreveport. Dalton Street Properties purchased the shopping center from Eastside Dunhill. Built in 2004, the property’s tenant roster includes Michael’s, Guitar Center, Dollar Tree and Cato. Fred Victor of Transwestern represented Eastside Dunhill in the transaction.
MERCED, CALIF. — Envoy Net Lease Partners has closed on a $4.5 million ground lease acquisition and development loan for a CVS/pharmacy property in Merced. Envoy financed 100 percent of the total cost of the project, allowing the undisclosed developer to retain full control and ownership of the property. The 2.2-acre site is located on Olive Avenue near highways 59 and 99.
GARDENA, CALIF. — Marcus & Millichap has arranged the sale a retail property located at 14600 S. Broadway in Gardena. A limited liability company sold the 37,088-square-foot property for $5.4 million. Twin Dragon Marketing Inc. occupies the property. Brandon Michaels of Marcus & Millichap represented the seller in the deal. The name of the buyer was not released.
NEW YORK CITY — New York Residence Inc. has brokered the purchase of a multifamily and retail building located at 165-167 Williams St. in downtown Manhattan. A private European equity fund acquired the 31,000-square-foot property from an investor group led by Eli Tabak of Bluestone Group for an undisclosed price. Originally built in 1907 as an office building, the 10-story building features ground-floor retail space, leased to Downtown Pharmacy, and 12 apartments on the upper floors. Thomas Guss and Saul Lalic of New York Residence Inc. represented the buyer, while Victor Sozio and Jesse Greshin of Ariel Property Advisors represented the seller in the transaction.
NEW YORK CITY — Rosewood Realty Group has arranged the sale of a portfolio of four contiguous multifamily buildings in Brooklyn’s Bedford-Stuyvesant neighborhood. 242-248 Bainbridge Partners acquired the portfolio from 242-248 Bainbridge Residences LLC for $10.2 million. Totaling 29,200 square feet, the properties offer 32 apartments, including 18 rent-stabilized units and 14 market-rate units. Michael Guttman of Rosewood represented the buyer and seller in the deal.
EDISON, N.J. — Marcus & Millichap has arranged the sale of Galleria 27, a retail property located in Edison. A private investor acquired the property for $2.4 million. Michael Lombardi and Alexander Pildes of Marcus & Millichap represented the seller, a private investor, and the buyer in the all-cash transaction.
ANN ARBOR, MICH. — Signature Associates has arranged the sale of four office buildings in Ann Arbor Commerce Park. The sales price was not disclosed. The buildings total 115,104 square feet and are located at 4220 Varsity Drive, 1050 Highland Drive, 1665 Highland Drive and 1777 Highland Drive. M.V. Ventures LLC purchased the buildings and now owns six buildings within the park. Jay Chavey and Bruce Morrison of Signature Associates represented the seller, CSFB 2005-C6 Highland Industrial LLC.
OVERLAND PARK, KAN. — Colliers International has brokered the sale of 101 acres of land in Overland Park. The sales price was not disclosed. The site is located at 167th Street and Antioch Road. John Stafford of Colliers brokered the transaction on behalf of the seller, S.I.K. LLC. John Nolan and Scott Buescher of Price Commercial Realty represented the undisclosed buyer.
COLUMBIA, S.C. AND GREENSBORO, N.C. — ARA Newmark has arranged two sales of student housing assets near the University of South Carolina and the University of North Carolina at Greensboro. The sales totaled more than $50 million. In the first transaction, Pittsburgh-based Campus First Student Living purchased The Club at Carolina Stadium in Columbia from Aspen Square Management for $30.5 million. Situated directly across from Carolina Stadium, the 240-unit, 486-bed asset was fully occupied at the time of sale. In the second deal, Shanghai-based private equity fund OC Ventures and operating partner SkyeCroft Realty purchased Sterling Cottages at West End in Greensboro from Houston-based The Dinerstein Cos. for an undisclosed price. Built in 2011, the 176-unit, 600-bed asset was 93 percent occupied at the time of sale. Ryan Lang of ARA Newmark’s Student Housing group in Austin, Texas, represented the sellers in both transactions.
PEACHTREE CITY, GA. — The $9.5 billion MEPT Fund, along with its affiliated funds, has purchased Kedron Village II, a 157,185-square-foot shopping center located in Peachtree City, about 30 miles southwest of downtown Atlanta. MEPT also owns the adjacent Kedron Village I, a 97,000-square-foot, grocery-anchored retail center. Built in 2006, Kedron Village II was 90 percent leased at the time of sale to tenants such as Ross Dress for Less, Bed Bath & Beyond and Petco. The weighted average remaining lease term for all tenants is nearly five years and 80 percent of the tenant base has been at the center for seven or more years. Bentall Kennedy, a Sun Life Investment Management company, advised MEPT in the transaction.