REBusinessOnline

Abbhi Capital Purchases One-Acre Development Parcel at Miami Worldcenter for $20M

MIAMI — Abbhi Capital, a Coral Gables, Fla.-based investment firm, has purchased a one-acre parcel within Miami Worldcenter for $20 million. The seller was Miami Worldcenter Associates, the developer behind Miami Worldcenter doing business as MWC Block A LLC. The $4 billion, 27-acre mixed-use development is now underway in downtown Miami across 10 city blocks. Robert Given, Troy Ballard and James Quinn of Cushman & Wakefield represented the seller in the land transaction.The assemblage …

Marcus & Millichap Brokers Sale of 253-Unit Multifamily Asset in West Chicago

WEST CHICAGO, ILL. — Marcus & Millichap has brokered the sale of Aspen Ridge in West Chicago for an undisclosed price. The 253-unit multifamily asset is situated in a wooded area near DuPage County Forest Preserve. Built in 1967 on 12 acres, the property features an Olympic-size pool, fitness center and playground. There are 77 one-bedroom units and 176 two-bedroom units. Ryan Engle, Andrean Angelov and Zack Mahoney of Marcus & Millichap represented the seller and procured the buyer. …

Monday Properties, Neo Capital Buy Multifamily Asset in Stamford, Connecticut, for $73M

STAMFORD, CONN. — A partnership between New York City-based Monday Properties and Neo Capital, an investment advisory firm based in London, has acquired Harbor Landing, a 218-unit multifamily asset in Stamford. The sales price was $73 million. Built in 2018, Harbor Landing features studio, one- and two-bedroom units and amenities such as a pool, fitness center and outdoor grilling areas. Jose Cruz, Steve Simonelli, Michael Oliver, Kevin O’Hearn and Ryan Robertson of JLL represented the …

TA Realty Sells Fremont Research Center in California to Kennedy Wilson for $32.3M

FREMONT, CALIF. — TA Realty has completed the sale of Fremont Research Center, a two-building portfolio in Fremont, to Kennedy Wilson Fund VI for $32.3 million.Located at 47200 Bayside Parkway and 3500 W. Warren Ave., the portfolio offers a total of 115,537 square feet of office, research and life sciences space. At the time of sale, the property was fully leased to two life sciences and aerospace defense users.Intuity Medical, a medical device company, occupies the 61,824-square-foot …

Partners Group Sells East Coast Industrial Portfolio for $1B

BAAR, SWITZERLAND — Partners Group has sold an industrial portfolio on the East Coast in excess of $1 billion on behalf of its institutional clients. The 8.6 million-square-foot portfolio comprises 88 shallow-bay and bulk distribution centers located across five markets: Raleigh-Durham, Atlanta, Nashville, Norfolk and Shenandoah Valley in Virginia.“We are proud to see the transformational results of the work we have done during the past three years and believe this exit represents an …

Marcus & Millichap Arranges $11.3M Sale of Miami Beach Property Leased to 7-Eleven

MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $11.3 million sale of a 4,370-square-foot retail property leased to 7-Eleven in Miami Beach. Alejandro D’Alba and Scott Sandelin of Marcus & Millichap marketed the property on behalf of the seller, an individual/personal trust known as Armando’s Service Station, Inc. (dba 7/11 Store). The buyer was Power Petroleum Inc, a fuel supplier based in South Florida that distributes multiple brands.The 7-Eleven convenience store is …

DWG Capital Partners Acquires Texas Industrial Property in Sale-Leaseback Transaction

COLUMBUS, TEXAS — DWG Capital Partners, a Los Angeles-based investment and advisory firm led by Judd Dunning, has acquired 1317 Business Highway 71 N. in Columbus, a light industrial facility located west of Houston. The 35,835-square-foot property was acquired from The Theut Co., a commercial glazing company and a division of Denver Glass Interiors, in a sale-leaseback transaction. Bryan Huber and Michael Soleimani of SAB Capital represented the tenant in the 17-year, absolute triple-net …

Greystone Bel Negotiates Sale of 267-Unit Apartment Portfolio in Chicago

CHICAGO — Greystone Bel Real Estate Advisors has negotiated the sale of a five-property multifamily portfolio totaling 267 units in Chicago. The sales price was undisclosed. The buildings are situated in the neighborhoods of Buena Park, Rogers Park, Ravenswood and Lincoln Square. The portfolio sold to three individual investors, who plan to make improvements to the 1920s-era properties. Bill Montana and Chris Sackley of Greystone Bel’s Chicago office represented the seller, a family

HLNP Sells Industrial Outdoor Storage Site in Hanover, Maryland for $21.1M

HANOVER, MD. — HLNP LLC has sold Last-Mile @ BWI, an industrial outdoor storage site located at 1200 Stoney Run Road in Hanover, for $21.1 million. The industrial-zoned land is 100 percent leased and was sold to NorthBridge Partners. Cris Abramson, Brian Kruger, Ben McCarty and Nicholas Signor of Newmark brokered the sale. Located directly adjacent to Baltimore-Washington International Airport (BWI), Last Mile @ BWI sits on 13.6 acres within Baltimore Commons Industrial Park, a …

Colliers Brokers Sale of 503,244 SF Distribution Center in Aurora, Illinois

AURORA, ILL. — Colliers International has brokered the sale of Butterfield VI Distribution Center, a 503,244-square-foot facility in Aurora, located about 40 miles west of Chicago. Situated on 34.5 acres at 2350 Frieder Lane, the warehouse features a clear height of 36 feet and parking for 125 trailers and 286 cars. Built in 2020, the property is 66 percent leased to LGSTX Distribution Services. It is located within the larger Butterfield Center for Business and Industry. Jeff Devine and …

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