REBusinessOnline

Marcus & Millichap Brokers Sale of Two Mixed-Use Buildings in Brooklyn for $18.7M

NEW YORK CITY — Marcus & Millichap has brokered the $18.7 million sale of two mixed-use properties in Brooklyn located at 984-994 Winthrop St. and 4512-4524 Church Ave. Matt Fotis, Matt Shapiro and Tyler Workman of Marcus & Millichap represented the seller, Renaissance Realty Associates, in the transaction. The Bauta Family purchased both properties. The first property, 984-994 Winthrop St., is a four-story building consisting of five retail units and 39 residential units. The second, …

Transwestern Arranges Sale of 332-Unit Apartment Community in Dallas

DALLAS — Transwestern has arranged the sale of Highland Road Village, a 332-unit multifamily community located at 2704 S. Cockrell Hill Road in southwest Dallas. Built in 1965 and renovated in 2000, the property features one-, two- and three-bedroom units ranging in size from 418 to 1,222 square feet. Amenities include a soccer field, playground and access to nearby jogging trails. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern arranged the transaction on behalf of the …

IPA Brokers $60.5M Sale of 402-Unit Multifamily Property in Tempe, Arizona

TEMPE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Willow Creek, a value-add multifamily asset located in Tempe. Acacia Capital sold the property to JB Partners for $60.5 million, or $150,498 per unit. Constructed in 1984, the property features 402 apartment units, three swimming pools and a recently renovated clubhouse. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the

HFF Negotiates $4.5M Sale of Gas Station in Suburban Chicago

HICKORY HILLS, ILL. — HFF has negotiated the $4.5 million sale of a 4,500-square-foot BP/Circle K service station in Hickory Hills, a southwest suburb of Chicago. The property is located near I-294. BP and Circle K have operated at the property since 2004 under a triple net lease that has six years remaining. Marc Mandel, Steve Schrenk and Robin Stolberg of HFF marketed the asset on behalf of the seller, a private investor. The North American Development Group NNN REIT was the

Cooper Group Brokers $2.9M Sale of Retail Property in Aurora, Ohio

AURORA, OHIO — The Cooper Commercial Investment Group has brokered the $2.9 million sale of an 8,460-square-foot retail property in Aurora, a suburb of Cleveland. Tenants include Kay Jewelers, Mattress Warehouse and Samurai Japanese Steak House. The outparcel is part of Marketplace at Four Corners, a nearly 1 million-square-foot regional shopping center. Dan Cooper of Cooper Group represented the seller, a Florida-based private investment group. An East Coast-based private investment group …

SVN Arranges $2.4M Sale of Medical Office Building in Hoffman Estates, Illinois

HOFFMAN ESTATES, ILL. — SVN | Chicago Commercial has arranged the sale of a 20,500-square-foot medical office building known as Governor’s Plaza in Hoffman Estates for $2.4 million. The property is located at 2260 W. Higgins Road. The asset was 60 percent occupied at the time of sale. Olivia Czyzynski and Jennifer Hopkins of SVN represented the out-of-state seller. Zishan Alvi of Sky High Real Estate represented the undisclosed

Cornerstone Realty Capital Arranges $58M Construction Loan for Apartment Community Near Boston

QUINCY, MASS. — Cornerstone Realty Capital has arranged $58 million in financing for the construction of Quarry Hills Apartments, a 269-unit apartment community in Quincy. The borrower was undisclosed, though Chicago-based owner-operator Equity Apartments lists the property on its website. The community, which is located 11 miles south of downtown Boston, will consist of two five-story residential buildings. Amenities will include two courtyards, a firepit, outdoor kitchen, lounge area, …

Draper and Kramer, Intercontinental Acquire 298-Unit Apartment Building in Chicago

CHICAGO — Draper and Kramer Inc. and Intercontinental Real Estate Corp. have acquired Burnham Pointe, a 28-story, 298-unit apartment building in Chicago’s Printers Row neighborhood. The purchase price was not disclosed. Located at 730 S. Clark St., the property features a mix of one- and two-bedroom units as well as 14,391 square feet of ground-level retail space. The property is currently 96 percent occupied. The buyers plan to renovate the indoor aquatic area, fitness center, business …

Gorjian Acquisitions Purchases 16,000 SF Shopping Center in Toledo, Ohio

TOLEDO, OHIO — Joel J. Gorjian, principal of Gorjian Acquisitions, has completed the purchase of the Airport Plaza shopping center in Toledo for an undisclosed price. The 16,000-square-foot center is located on a 2.1-acre site along Airport Highway. Tenants include a nail salon and a laundry mat. The seller was a private investor. Gorjian has acquired 24 properties across the country in the last

Brickman, GreenOak Purchase Historic Office Building in Seattle’s CBD for $67.5M

SEATTLE — A joint venture between Brickman and GreenOak has acquired Central Building, an eight-story historic office property located at 810 Third Ave. in Seattle's central business district. KBS Strategic Opportunity REIT sold the property for $67.5 million. Originally built in 1907, the 192,176-square-foot building was 81 percent leased at the time of sale. Dave Otis, Michael Leggett, Logan Greer and Kevin Freels of HFF represented the seller and procured the buyer in the deal. …

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