MACON, GA. — Equus Capital Partners Ltd. has sold Madison River Place, a 240-unit apartment community in Macon, for $14.5 million. Mullberry Properties LLC purchased the property, which was 95 percent occupied at the time of sale. Built in 1988, the community features a resort-style swimming pool, fitness center, tennis and sand volleyball courts and a playground. Robert Stickel of Multi Housing Advisors represented the seller in the transaction. Greg Curci of Equus oversaw the company’s disposition of Madison River Place.
ELGIN, ILL. — Marcus & Millichap has brokered the $1.9 million sale of a 32-unit multifamily property in Elgin, approximately 40 miles northwest of Chicago. Unit sizes at the property, known as 230 South State Street, range from 490 to 990 square feet. Features include ample parking, on-site laundry and storage lockers. An undisclosed limited liability company sold the building located at 230 S. State St. to a private investor. Ryan Engle and Andrean Angelov of Marcus & Millichap listed the property on behalf of the seller and secured the buyer.
REDLANDS, CALIF. — Majestic Realty Co. has signed four new tenants at Mountain Grove, a 67-acre shopping center in Redlands. Jeff Stanley of Lee & Associates represented Farmer Boys in the lease of 2,502 square feet of restaurant space; Justin Schultz of CBRE represented Nike Inc. in the lease of 25,000 square feet of retail space; and Robert Brady of Voit Real Estate represented Waba Grill in a deal for 1,495 square feet of restaurant space. Additionally, JoJo’s Grill A Dog inked a deal for 1,209 square feet of restaurant space at the shopping center. John Hunter and Tom Cozzolino provided in-house representation for the landlord, Majestic, in the transactions.
NEW YORK CITY — Cignature Realty Associates has brokered the sale of a residential building located at 4300 Broadway in Upper Manhattan. Quantum Equities sold the property to Sugar Hill Capital Partners for $21.6 million. Built in 1955, the six-story, elevator-serviced building features 54 residential units and a 6,000-square-foot vacant retail space. The rent-regulated building features a mix of studios and one- and two-bedroom apartments. Lazer Sternhell and Peter Vanderpool of Cignature Realty Associates represented both parties in the off-market transaction.
NASHUA, N.H. — Burlington, Mass.-based Linear Retail Properties has acquired a free-standing building located at 235 Daniel Webster Highway in Nashua. The 29,554-square-foot property, which is occupied by Barnes & Noble Bookstore, sold for $12 million. The property is connected to three other Linear Retail centers: Daniel Webster Plaza, Daniel Webster Shops and Daniel Webster Crossing. The name of the seller was not released.
CYPRESS, TEXAS — Greg Usher of Cypressbrook Co. has represented Argen Polymer LLC in the purchase of two tracts of land totaling 10.8 acres and a warehouse building containing 15,000 square feet on Telge Road in Cypress. Steve Adkisson of Adkisson Group represented the seller, SF Telge Park LLC.
ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of North Davis Plaza, a 12,054-square-foot retail property located in Arlington. Bill G. Jordan of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Jordan also secured the buyer, a private investor. North Davis Plaza is located at 2430 N. Davis Drive. The shopping center was built in 1985 and is 52 percent occupied. Tenants include Animal Clinic of Arlington, Mr. Jim’s Pizza, Sportswear World and The Dog Grooming Shop.
COPPELL, TEXAS — Tom Smolik and Matthew Hickey of TIG have represented the unnamed landlord in a 25,568-square-foot, long-term lease renewal at Coppell Tech Center II, located at 1322 Crestside Drive in Coppell. Mark Miller of NAI Robert Lynn represented the tenant, MasTec International, in the transaction.
WESTON, FLA. — New York Life Real Estate Investors has purchased Weston Pointe, a 388,112-square-foot, four-building office park in Weston, a town in Broward County. Built between 1999 and 2006, Weston Pointe was 99 percent leased at the time of sale to tenants such as Wells Fargo, BB&T, Merrill Lynch, Regus, Ultimate Software and the General Services Administration. New York Life Real Estate Investors purchased the asset on behalf of the Madison Core Property Fund.
HOUMA, LA. — Venture Commercial Real Estate and SRSA Commercial Real Estate, two X Team International partners, have arranged a 20,023-square-foot lease for Northern Tool + Equipment in Houma. The family-owned and operated chain of hardware stores will occupy space at Houma Power Center, joining Old Navy, Burkes Outlet, Shoe Carnival and Pier 1 Imports. The shopping center is located between Martin Luther King Boulevard and West Main Street. Clay Mote of Venture Commercial and Kirsten Early of SRSA Commercial represented Northern Tool in the lease deal. Austin Lavin of Corporate Realty represented the landlord, Andrew Associates LLC. The Houma store will be Northern Tool’s second location in Louisiana.