HOUSTON — Davis Commercial Real Estate has negotiated the sale of three buildings on 21,303 square feet of land located at 4545, 4509 and 4503 Mount Vernon St. in Houston. The buyer, Light Hill Partners, plans to redevelop the properties. Light Hill Partners is a Houston-based company focused on acquiring and developing multifamily and single-family projects. A mid-rise multifamily development is planned for the site. Ashley Casterlin of Davis Commercial Real Estate represented the buyer in the transaction.
THE WOODLANDS, TEXAS — Colliers International has arranged the sale of ALORE Center, which comprises medical office and office buildings and a surgery center. The property is located at 26710 I-45 in The Woodlands submarket of Houston. Beth Young of Colliers International represented the seller. The buyer was Woodlands Medical Properties, an out-of-state investor.
PLANO, TEXAS — Marcus & Millichap has negotiated the sale of All Star Self-Storage, a 90,600-sqaure-foot self-storage facility located in Plano. Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Karr also secured the buyer, a limited liability company. All Star Self-Storage is located at 800 Fulgham Road. The 185-unit property comprises seven buildings constructed in 2002 on 4.8 acres and features garage-style doors, standing seam metal roofs, steel framing, brick facades, perimeter fencing and lighting, video surveillance, an on-site manager’s office and personalized key-pad entry/exit gates.
NEW ORLEANS — Cushman & Wakefield has brokered the $15.5 million sale of a 358,060-square-foot distribution center located at 1420 Sams Ave. in Elmwood Business Park, a 33 million-square-foot industrial park in New Orleans. Built in 1984, the property was 95.6 percent leased at the time of sale. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, Columbus Nova, in the transaction.
DECATUR, ALA. — Colliers International’s Southeast retail investment sales team has brokered the $10.9 million sale of The Market Shoppes, a power retail center located at 2407 6th Ave. in Decatur. Built in 2012, the Class A center was fully leased at the time of sale to tenants such as Kohl’s, Ulta Beauty, Lane Bryant and Mattress Firm. A family trust based in California purchased The Market Shoppes from Birmingham-based Blackwater Resources. Tony D’Ambrosio and Joe Montgomery of Colliers represented the seller in the transaction.
SANDY SPRINGS AND ROSWELL, GA. — Atlanta Property Group, an investor and owner of office and industrial assets in the metro Atlanta area, has disposed of three Class B office assets in Sandy Springs and Roswell. The buildings total 125,283 square feet and include Hightower Centre I and II at 8300 and 8302 Dunwoody Place in Sandy Springs and Pavilion Center at 9755 Dogwood Road in Roswell. Kevin Markwordt and Todd Syprett of Transwestern’s Southeast investment sales group represented Atlanta Property Group in the transaction.
NORTH ANDOVER AND WALTHAM, MASS. — Burlington, Mass.-based Linear Retail Properties has acquired a three-property retail portfolio, totaling 124,093 square feet, in Massachusetts for $57.5 million. The portfolio includes Eaglewood Shops at 175 Turnpike St. in North Andover, Main Street Marketplace at 1030 Main St. in Waltham and 1036 Main St. in Waltham. Acquired for $34.2 million, the 77,558-square-foot Eaglewood Shops is fully leased to Burtons Grill, Staples, Pier 1 Imports, Jos. A. Bank and Chipotle. The 44,461-square-foot Main Street Marketplace is fully leased and sold for $22.4 million. The adjacent 2,074-square-foot property, 1036 Main Street, was purchased for $850,000. The seller was Ross Hamlin.
SADDLE BROOK, N.J. — Vision Real Estate Partners has acquired a two-building neighborhood shopping center at 55-75 Mayhill St. in Saddle Brook. Situated on 12 acres, the center is anchored by a 62,000-square-foot A&P supermarket. The site is also approved for an additional 12,000 square feet of retail space. Constructed between 1998 and 2000, the 119,000-square-foot property offers 800 parking spaces and 45,000 square feet of near-term availability. Jose Cruz, Kevin O’Hearn and Robert Borny of HFF represented the undisclosed seller in the transaction. Jon Mikula and Jim Cadranell, also of HFF, secured acquisition financing for the buyer through Oritani Bank.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use property located at 36-01 Vernon Blvd. in the Long Island City neighborhood of Queens. The asset sold for $2.5 million, or $278 per square foot. The four-story, 9,000-square-foot building features one commercial unit and seven three-bedroom apartments. David Chkheidze of Cushman & Wakefield brokered the transaction. The names of the buyer and seller were not released.
SOUTH PADRE ISLAND, TEXAS — Marcus & Millichap has arranged the sale of Plaza 410, a 51,425-square-foot retail property located in South Padre Island. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Levy also represented the buyer, a private investor. Plaza 410 is located at 410 Padre Blvd. and is 74 percent leased to tenants including Tuesday Morning, Spec’s Family Partners, Tate’s Clothiers, Sisters Trading Co., Jong Mi Park, Subway, Coast to Coast Beachwear and SPI Fellowship Group. The building was constructed in 1985 and sits on a 2.7-acre lot.