PURCHASE, N.Y. — CBRE has arranged the approximately $40 million sale of 100 Manhattanville Road, a 290,634-square-foot, Class A office property in Purchase, a northern suburb of New York City. Mastercard anchors the office complex, which features a cafeteria and fitness center. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin, Gene Pride and Stuart MacKenzie of CBRE represented the seller in the transaction, which was undisclosed. The team also procured the buyer, RPW Group.
DALLAS — Canada-based Granite Real Estate Investment Trust has acquired a 2.3 million-square-foot industrial facility situated on 101 acres at 1301 Chalk Hill Road in west Dallas that is fully leased for an initial lease term of 20 years. The Dallas Morning News reports that the tenant is Amazon. Features of the building, which is located about seven miles west of downtown, include 41-foot clear heights, 2,500 auto parking spaces and 300 trailer parking spaces. Granite REIT acquired the property as part of a $296 million acquisition package that also included large-scale industrial facilities in Georgia and Indiana.
ST. LOUIS — Lux Living and Big Sur Construction have sold Tribeca, a 160-unit luxury apartment community in the Central West End of St. Louis, for $44 million. Built in 2018 and located near Washington University and Barnes-Jewish Hospital, the six-story asset includes an outdoor pool, concierge robot, self-pour bar, fitness center, pet park and outdoor lounge. Will Mathews, Tyler Hague, Bob Galamba and Gregory Russell of Colliers International represented the buyers, Hamilton Zanze and an affiliate of Cantor Fitzgerald LP. Management of the property has been transitioned to Hamilton Zanze affiliate, Mission Rock Residential.
ELK GROVE VILLAGE, ILL. — JLL has brokered the sale of Mallard Crossing, an 80,708-square-foot retail center in Elk Grove Village. The sales price was not disclosed. Anchor tenants Aldi, Ross Dress for Less and Dollar Tree have all signed long-term leases within the past year. Located on Meacham Road, the property was recently renovated with a new roof, parking lot and façade. Janice Sellis of JLL represented the seller, IRC Retail Centers LLC. JLL also procured the buyer, a vehicle sponsored by AmCap Management LLC.
EASTON, OHIO — JLL has arranged the sale of One & Two Easton Oval, a two-building office property in Easton, for $41.4 million. The Class A asset spans 252,461 square feet and is situated approximately 10 miles northeast of Columbus’ central business district. Completed in the late 1990s, the property is 91.4 percent leased. Jim Postweiler, Peter Harwood, Derek Fohl and Patrick Shields of JLL represented the seller, Garrison Investment Group. Steve Buss and Marc Nanne of JLL represented the buyer, Minneapolis-based Founders Properties. Local JLL brokers Collin Wheeler and Aaron Duncan supported the sales effort. Keith Largay and Patrik Modig of JLL secured $27.8 million in acquisition financing. TCF Bank provided the seven-year, floating-rate loan.
CHICAGO — Interra Realty has brokered the sale of 1540 Fullerton in Chicago’s Lincoln Park neighborhood for $10.6 million. The four-story, 25-unit apartment property is located at 1540 W. Fullerton Ave. Completed in 2015, the fully leased asset includes 12 two-bedroom units, 12 three-bedroom units and one commercial space. Joe Smazal of Interra represented the private seller while Jeremy Morton and Ted Stratman of Interra represented the undisclosed buyer. At $425,400 per unit, the sale was the largest multifamily sale in Lincoln Park so far this year, according to CoStar data.
DELAFIELD, WIS. — An affiliate of Next Realty LLC has acquired Hillside Terrace Shopping Center in Delafield, about 25 miles west of Milwaukee. The purchase price was not disclosed. The 17,000-square-foot retail center is located on Hillside Drive. The property is fully leased to tenants such as Jimmy John’s, Pizza Hut, Stone Creek Coffee and Chris & Co. Salon. This is the seventh acquisition for Next Realty Fund IX LP.
KANSAS CITY, MO. — Kadean Construction has purchased the 5,250-square-foot building at 1821 McGee St. in Kansas City that the company has been leasing since January 2018. The purchase price was not disclosed. Kadean plans to immediately commence renovations to finish out approximately 2,700 square feet of existing shell space into new office space. The construction firm expects to fully occupy the space beginning in January. Headquartered in St. Louis, Kadean has been active in the Kansas City market since 2015.
NEW BRAUNFELS, TEXAS — California-based investment and development firm Passco Cos. has acquired Lakeview Villas, a 313-unit apartment community in New Braunfels, a northeastern suburb of San Antonio. The community’s one and two-bedroom units feature stainless steel appliances, hardwood-style flooring, granite countertops, brushed nickel hardware, gooseneck faucets in the kitchen and private detached garages. Amenities include a resort-style pool with tanning ledge and outdoor kitchen, poolside lounge and fire pit, as well as a fitness center, a resident clubhouse and a walking trail surrounding a lake on the grounds. Will Balthrope, Jordan Featherston and Drew Garza of Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale on behalf of the seller.
GETZVILLE, N.Y. — Citigroup has agreed to purchase 580 CrossPoint Parkway, a 158,000-square-foot office building in the CrossPoint Business Park, as well as approximately nine acres of adjacent land in the northern Buffalo suburb of Getzville. With this transaction, Citigroup will also extend its lease at the conjoined 107,000-square-foot office building located at 540 CrossPoint Parkway. Uniland Development Co. was the seller of 580 CrossPoint and is also the landlord of 540 Crosspoint. The Buffalo News reports the sale, which is expected to close in November, fetched a sales price of $52 million.