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Bridge Crossing

BRENTWOOD, TENN. — Bridge Investment Group has sold Bridge Crossing, a three-story, 199,194-square-foot office building in Brentwood, about 10.3 miles south of Nashville. Pacific Oak Capital Advisors purchased the property for $46 million. Jay O’Meara, Morgan Hillenmeyer, Roscoe High and Ryan Reethof of CBRE represented Bridge Investment in the transaction. Originally built in 1989, Bridge Investment purchased the property in January 2018 and rebranded the building for multi-tenant use by adding new signage. Bridge Crossing recently underwent a $3 million renovation, including a $1.8 million parking lot expansion that added 147 additional parking spaces. The third floor was also updated, and enhancements were made to common areas, lobbies and elevators. Bridge Crossing is fully occupied with leases signed through May 2026. The building is anchored by Fleetcor Technologies Inc., an Atlanta-based business payment processing firm. The property also has tenants including information technology and services company Cognizant and Comdata, a payment processing company. Comdata, which has had its headquarters at Bridge Crossing since 1996, has recently expanded its lease to 50,690 square feet on the third floor. Located at 5301 Maryland Way, Bridge Crossing is situated within Maryland Farms, a 400-acre, mixed-use park with over 20,000 jobs. Brentwood overall has …

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811-SE-Everett-Mall-Way-Everett-WA

EVERETT, WASH. — Marcus & Millichap has arranged the sale of a retail center located at 811 S.E. Everett Mall Way in Everett. A limited liability company sold the asset to an undisclosed buyer for $5.8 million. Trader Joe’s, Dollar Tree, T-Mobile and Olympic Hot Tub occupy the 24,800-square retail property. Trader Joe’s has been at this location for more than 25 years and recently extended its lease. Clayton Brown and Ruthanne Romero of Brown Retail Group of Marcus & Millichap’s Seattle office represented the seller in the deal.

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EUCLID, OHIO — First National Realty Partners has acquired Shore Center Plaza in Euclid near Cleveland for an undisclosed price. The 111,152-square-foot shopping center is 94 percent occupied and anchored by a 47,348-square-foot Dave’s Supermarket. Other tenants include Dollar Tree, Citi Trends, Aaron’s, Little Caesar’s and Burger King. Seller and broker information was not provided.

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The-Morgan-Apartments-Austin

AUSTIN, TEXAS — A joint venture between California-based investment firm Archway Equities, CAF Capital Partners and Cleveland-based Citymark Capital has acquired The Morgan, a 504-unit apartment community in Austin. The value-add property was built in the mid-1980s on the city’s north side and was 95 percent occupied at the time of sale. The Morgan offers one- and two-bedroom units and an amenity package that includes multiple pools, a business center, walking trails, a dog park and an outdoor kitchen area. The seller was not disclosed.

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1-Van-de-Graaffe-Drive-Burlington-Massachusetts

BURLINGTON, MASS. — Newmark has arranged the sale of a 157,229-square-foot office building located at 1 Van de Graaff Drive in Burlington, a northern suburb of Boston. The property offers proximity to Interstate 95/Route 128 and amenities such as a cafeteria and a fitness center. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the undisclosed seller and procured the buyer, commercial owner-operator FoxRock Properties, in the transaction.

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TwentyTwenty-Portland-OR

PORTLAND, ORE. — PCCP has provided a $51 million senior loan to ColRich Multifamily for the purchase of Twenty Twenty, a seven-story apartment community located at 2020 N.E. Multnomah St. in Portland. Built in 2019, the property features 162 apartments in a mix of 18 studio units, 90 one-bedroom units and 53 two-bedroom units with a variety of den, penthouse and garden floorplans. Unit finishes include quartz countertops, hardwood flooring, stainless steel appliances, gas cooktops, custom cabinetry, in-unit washers/dryers and fireplaces and balconies in select units. Community amenities include two decks with grills, firepits and a Zen garden; a fitness center; bike lounge with repair station; pet lounge; and individual lockers. Additionally, the property sits above a two-level, subterranean parking garage. At the time of sale, the property was 67 percent leased. The asset was originally built as for-sale condominiums but was repositioned as a multifamily property.

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first warehouse

JACKSONVILLE, FLA. — Newtown Square, Penn.-based Graham Capital has acquired three fully leased warehouse buildings in Jacksonville’s Westside submarket. Mark Scott of Foundry Commercial represented Graham Capital in the transactions. The sales price and seller were not disclosed. The first warehouse property spans 216,000 square feet and is located at 1550 N Ellis Road. The other two properties are located at 7051 Stuart Ave. and 6982 Highway Ave. and total 153,625 square feet. All three buildings are located close to Interstate 10 and Interstate 295.

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BROOKLYN CENTER, MINN. — Kentaurus Capital has acquired Evergreen Park Manor, an 80-unit multifamily property in the Twin Cities suburb of Brooklyn Center. The purchase price was undisclosed. Completed in 1980, the property consists of four buildings. Recent upgrades include new flooring, trim, appliances, backsplashes and fixtures. Drew Rafshol and Ted Abramson of CBRE Minneapolis Multifamily represented the seller, ASK Properties.

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Bellrock-Summer-Street-Houston

HOUSTON — Bellrock Real Estate Partners has purchased Broadstone Summer Street, a 375-unit apartment community in Houston. Built in 2019, the property features stainless steel appliances, quartz countertops, walk-in closets, individual washers and dryers and private patios/balconies in select units. Amenities include a pool, fitness center, game room, resident lounge, theater room, pet park, outdoor grilling stations and a rooftop terrace. Hank Glasgow and Braden Harmon of Newmark arranged a $64.7 million floating-rate acquisition loan on behalf of the new ownership through a fund sponsored by CBRE Global Investors. The new ownership will rebrand the property as Bellrock Summer Street. The seller was not disclosed, but Broadstone is a brand of Houston-based Alliance Residential.

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York-Avenue-Manhattan

NEW YORK CITY — Avison Young has brokered the $61 million sale of a portfolio of 12 multifamily buildings totaling 261 units and two retail spaces on Manhattan’s Upper East Side. All properties in the portfolio are located between Second and York avenues and East 91st and East 73rd streets. James Nelson, Brandon Polakoff, David Shalom, Eric Karmitz and Bradley Rothschild of Avison Young represented the seller in addition to procuring the buyer in the transaction. Both parties requested anonymity.

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