STOCKBRIDGE, GA. — Phillips Edison Grocery Center REIT II Inc. has purchased Spivey Junction, an 81,475-square-foot grocery-anchored shopping center in Stockbridge, a southern suburb of Atlanta, for approximately $11.7 million. The property’s tenant roster includes Kroger, Kroger Fuel Center, Great Clips, Workout Anytime, Domino’s Pizza, Subway, Goodwill and Miracle Ear. The seller was MK EP Spivey LLC, a Delaware-based limited liability company. As of Dec. 9, Phillps Edison Grocery Center REIT II owned and managed 17 grocery-anchored shopping centers totaling 1.9 million square feet.
MARIETTA, GA. — The Cooper Commercial Investment Group has brokered the $8.5 million sale of the Village at Old Trace shopping center, a 40,985-square-foot retail property in Marietta, a northern suburb of Atlanta. The property was built in 2006 and was 93 percent leased at the time of sale. Dan Cooper of Cooper Commercial’s Cleveland, Ohio office represented the seller, a private investment group based in Ohio. The buyer was a local entity.
FARMERS BRANCH, TEXAS — Boxer Property has arranged a 23,893-square-foot office lease for Nurtur Health Inc. at 4001 McEwen Road in Farmers Branch. Gil Engelhardt, Jillian Brody and Mark Dowdle of Boxer represented the landlord. Cassidy Turley represented the tenant. 4001 McEwen Road is part of a three-building office complex. Amenities at the property include a walking trail, a gym, cafeteria and on-site security. The property is located 15 miles from DFW.
ST. CHARLES AND INDEPENDENCE, MO. — Cassidy Turley has arranged the $53 million sale of a 619,161-square-foot retail portfolio across five states. The seven-property portfolio is 84.7 percent leased to 76 tenants. The portfolio includes Regency Square, a 49,155-square-foot retail center in St. Charles, Mo.; Independence Corners, a 72,956 square foot shopping Center in Independence, Mo.; and five more shopping center properties in Pennsylvania, South Carolina Georgia and Arizona. More than 19 percent of the portfolio is occupied by grocery stores, and other tenants include Rite Aid, Tractor Supply and Stein Mart. Cassidy Turley represented the seller, PDSI. TriGate Capital purchased the portfolio.
BURNSVILLE, MINN. — Marcus & Millichap has brokered the $7 million sale of Whispering Oaks, a 72-unit apartment property in Burnsville. The property is located at 1600 W. 143rd St. and was originally constructed as condominiums. Units include fireplaces, in-unit washers and dryers, and multiple in-unit balconies. The building itself is equipped with underground parking, a swimming pool, community rooms and an elevator. Mox Gunderson and Dan Linnell of Marcus & Millichap’s Minneapolis office represented the seller, a private investor, and the buyer, a limited liability company.
HOUSTON — HFF has negotiated the sale and financing of a four-property, Class A apartment portfolio totaling more than 900 units in Houston. Southwest Multifamily Partners purchased the portfolio in a joint venture with an institutional co-investment partner. Todd Marix, Todd Stewart and Chris Curry of HFF marketed the property on behalf of the unnamed seller. Andy Scott, Jody Thornton and Michael Cosby of HFF’s debt placement team worked on behalf of the buyer to secure acquisition financing in four separate transactions through Freddie Mac’s CME program. The loans will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. The portfolio is 95 percent leased and located in the Texas Medical Center and Galleria submarkets. Lincoln Property Co. will manage the properties, which include Mirage Apartments at 2100 Bering Drive, Parque Del Oro Apartments at 8380 El Mundo St., San Melia Apartments at 6383 El Mundo St. and Versailles Park Apartments at 7200 Almeda.
HOLYOKE, MASS. — Brick, N.J.-based Tryko Partners has acquired the Mont Marie skilled nursing and age-restricted affordable housing campus in Holyoke. The Sisters of St. Joseph of Springfield (SSJ Springfield) sold the property for an undisclosed price. The 52-acre property includes the 84-bed Mont Marie Health Care Center, as well as the Mont Marie Senior Residence and St. Joseph Residence, which offer a total of 80 senior HUD rental units. The purchase was financed through CapitalSource. SSJ Springfield will retain use of the property’s chapel and cemetery through a lease agreement with Tryko.
NEW YORK CITY — CPEX Real Estate has brokered the sale of a development site at 2515-2517 Voorhies Ave. in Brooklyn’s Sheepshead Bay area. The two-lot site sold for $2.7 million, or $105 per buildable square foot. The 19,000-square-foot site is zoned approximately 25,650 buildable square feet of residential use. Additionally, the property was delivered with approved plans for construction. Sean Kelly, Orah Mansher, Sean Sears and James O’Neill represented the seller, Babe Realty Holding, in the transaction. The buyer, Hen Hui Gu Inc., was represented by Empire State Realty Group.
NEW YORK CITY — TerraCRG has arranged the sale a multifamily building, located at 43 Lexington Ave. in Brooklyn’s Clinton Hill neighborhood. The 3,200-square-foot building, which features four apartments and a full basement, sold for $1.75 million. The building offers two one-bedroom units and two two-bedroom units. Additionally, the basement is currently occupied by an art studio. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented both the seller and buyer in the transaction.
VIRGINIA BEACH, VA. — CBRE | Hampton Roads has brokered the $24.7 million sale of Bancroft Hall, a 244-unit apartment community located at 1031 Essex Court in Virginia Beach. S.L. Nusbaum purchased the property from Harbor Group International. The apartment community features a dog park, swimming pool, fitness center, children’s playground and media room equipped with Wi-Fi. Dan Johnson and Hank Hankins of CBRE | Hampton Roads represented the seller in the transaction.