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Clear-Creek-Commons-Golden-CO

GOLDEN, COLO. — Scottsdale, Ariz.-based The Wolff Cos. has completed the disposition of Clear Creek Commons, an active adult apartment community located at 1027 Washington Ave. in downtown Golden. Colorado Springs-based Griffis/Blessing acquired the 55-plus active seniors housing property for $18.7 million. Built in 2003, Clear Creek Commons features 45 apartments in a mix of one- and two-bedroom layouts, averaging 821 square feet. Each apartment offers a washer/dryer, spacious closets and secured off-street parking, while select units feature a private balcony or patio and a wood-burning fireplace. Community amenities include a gourmet entertainment kitchen and dining room, a cardio/fitness center, media room and business center, a community gardening space, scheduled transportation, concierge services and bi-weekly housekeeping. Additionally, the property is home to Sassafras Restaurant and offers direct access to the Clear Creek hiking trails and Parfet Park. Dan Woodward, David Potarf, Matt Barnett and Jack Young of CBRE’s Denver office represented the seller and arranged acquisition financing for the buyer.

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HOFFMAN ESTATES, ILL. — Harbert Management Corp. has acquired Poplar-Prairie Stone Crossing, a 316,575-square-foot shopping center in Hoffman Estates. The purchase price was not disclosed. Tenants include TJ Maxx, Ross Dress for Less, Cost Plus World Market, PetSmart, Old Navy and Ulta. Target shadow anchors the property. CBRE represented the seller, Walton Street Capital.

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CYPRESS, TEXAS — JLL has negotiated the sale of Cypress Pointe, a 173,344-square-foot, Kroger-anchored shopping center in the Houston metro of Cypress. The center was 99 percent leased at the time of sale. George Cushing, Wendy Vandeventer and Meaghan Gallacher of JLL represented the seller, Weingarten Realty Investors, which recently acquired a Kroger-anchored center in Houston, in the transaction. In addition, Cortney Cole and James Brolan of JLL placed a 10-year, fixed-rate acquisition loan through Morgan Stanley on behalf of the Houston-based buyer, Tarantino Properties.

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Westland-Fair-Las-Vegas-NV

LAS VEGAS — Houston-based Weingarten Realty Investors has completed the sale of Westland Fair, a shopping center in west Las Vegas. Southern California-based Cannon Commercial acquired the asset for an undisclosed price. The transaction included seven parcels totaling 214,127 square feet of retail space. Rob Ippolito and Michael Zobrist of Newmark Knight Frank represented the seller in the deal. Located at 1251 S. Decatur Blvd., Westland Fair is anchored by regional and national tenants, including Smart & Final Extra!, Michaels and PetSmart. Additional tenants include Raising Cane’s Chicken Fingers, Freddy’s Frozen Custard, Applebee’s, Panda Express, Jamba Juice and Office Depot.

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JEFFERSON CITY, MO. — Newmark Knight Frank (NKF) has arranged the $56.1 million sale-leaseback of the Jefferson City Medical Group (JCMG) portfolio. The two medical office assets total 184,181 square feet and are located at 1241 and 1225 W. Stadium Blvd. in central Missouri. JCMG is one of Missouri’s largest multi-specialty groups and has been serving the Jefferson City area for more than 25 years. The portfolio included JCMG’s medical building and its adjacent orthopedic center. Todd Perman, Dana Hamric and Richard Gerakitis of NKF, along with Kevin McLaughlin of NGZ, represented the sellers, four different ownership entities. MB Real Estate Advisors was the buyer.

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PASADENA, CALIF. — JLL has brokered the $193 million sale and secured $160 million in financing for The Pasadena Collection, an institutional-quality office portfolio in Pasadena. Swift Real Estate Partners acquired the asset from a global investment manager. Totaling 516,890 square feet, the portfolio includes a 146,313-square-foot building at 790 E. Colorado Blvd., a 211,792-square-foot building at 155 N. Lake Ave. and a 158,785-square-foot building at 35 N. Lake Ave. At the time of sale, the portfolio was 68 percent occupied. Michael Leggett, Andrew Harper and Matt McRoskey of JLL Capital Markets represented the seller, while Paul Brindley, Todd Sugimoto, Jeff Sause and Steven Paskover of JLL Capital Market secured acquisition financing for the buyer.

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TOPEKA, KAN. — Echo Development Group Inc., in association with Quivet Neck HCRE LLC, has acquired a Class A medical office building anchored by the University of Kansas Health System and Stormont Vail Health. The property spans approximately 27,000 square feet and is located at 601 SW. Corporate View. The fully occupied building is also home to a hearing, balance and physical therapy clinic as well as a pharmacy. An additional 1.5 acres adjacent to the building were included in the acquisition. Echo plans to build 20,000 square feet of complementary Class A medical space. Neither the seller nor the sales price were disclosed.

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MORTON GROVE, ILL. — Adelphia Properties has arranged the sale of an 8,020-square-foot retail building in Morton Grove for an undisclosed price. The property is situated on one acre at 9300 Waukegan Road near Skokie. Gail’s Carriage Grove, a restaurant and pancake house, is a tenant at the property. George Spirrison and Simeon Spirrison of Adelphia represented the seller, a private Chicago-based real estate investor. A local private buyer purchased the asset.

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VALPARAISO, IND. — Baum Realty Group LLC has brokered the sale of a 3,600-square-foot retail property leased to Starbucks and Rosati’s Pizza in Valparaiso for $1.4 million. The asset serves as an outparcel to a shopping center anchored by grocer Strack & Van Til. Starbucks recently extended its lease for an additional 10 years. Patrick Forkin of Baum represented the seller, a private regional investor. The buyer was not disclosed.

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grand-reserve-orange-ct

ORANGE, CONN. — CBRE has arranged the $35 million sale of Grand Reserve Orange, a 168-unit apartment community located in Orange, a western suburb of New Haven. Built in 2005, Grand Reserve Orange offers one-, two- and three-bedroom floor plans with amenities including a fitness center, resident clubhouse and pool. Jeffrey Dunne, Gene Pride, Eric Apfel, Simon Butler and Biria St. John of CBRE represented the seller, Fairfield Grand Reserve LLC. The team also procured the buyer, a private New Jersey investment firm.

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