NORRIDGE, ILL. — Lee & Associates has negotiated the $1.2 million sale of a 15,000-square-foot retail building in Norridge, about 15 miles northwest of Chicago. The property, partially occupied by Dollar General, is located at 7510 W. Irving Park Road. It also features a showroom. Rick Scardino and John Cassidy of Lee & Associates represented the seller. A private investor purchased the asset.
ARLINGTON, TEXAS — Locally based investment firm S2 Capital has acquired Cypress Club Apartments, a 272-unit multifamily community in Arlington. Built in 2014, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and playground. The seller was not disclosed. Mark Brandenburg of JLL arranged acquisition financing for the transaction through Freddie Mac.
SOUTH PLAINFIELD, N.J. — Edgewood Properties has purchased a 104,020-square-foot vacant office property in South Plainfield, just west of Staten Island. The property is located at 1001 Durham Ave. near I-287 and I-95, as well as Routes 1 and 22. The new ownership plans to either renovate the building and maintain its office use or redevelop the asset as an industrial distribution facility. Jose Cruz, Marc Duval and Jordan Avanzato of JLL represented the seller, ConnectOne Bancorp Inc., in the transaction.
AVENEL, N.J. — Lee & Associates has brokered the sale of an 81,000-square-foot industrial warehouse in Avenel, just west of Staten Island. The property, located at 80 Essex Ave., includes 7,500 square feet of office space, 11 loading dock doors, (expandable to 19) and space for truck parking. The property offers direct access to the New Jersey Turnpike, Route 440, the Goethals Bridge and Garden State Parkway. Planned upgrades include new paving and a truck court. Crista Governara, Drew Maffey and Rick Marchisio of Lee & Associates represented the buyer, TA Realty, as well as the undisclosed seller, in the transaction.
LINCOLN, R.I. — JLL’s Retail Capital Markets team has arranged the sale of the Lincoln Commons shopping center in Lincoln for $55.7 million. The 578,000-square-foot property is located at the I-295 and Route 146 intersection, close to downtown Providence. Tenants include Stop & Shop, Target, Marshalls and Homegoods. The buyer was Acadia Realty Trust. The seller was not disclosed.
MILFORD, N.H. — JLL has negotiated the sale of Lordens Plaza, a 148,102-square-foot shopping center in Milford, a small town near Nashua just inside New Hampshire’s southern border. Shaw’s Supermarket anchors the property, which is located at the intersection of State Routes 101 and 101A. Other tenants include Rite Aid and Fresenius Medical Care. Nat Heald and Chris Angelone led the JLL team on behalf of the seller, LNR. Seattle-based Bridge33 Capital was the buyer.
EL PASO, TEXAS — Greysteel has arranged the sale of Las Lomas Apartments, a 232-unit multifamily asset in El Paso. The property is located adjacent to several entertainment concepts, including Topgolf, Alamo Drafthouse Cinema and iFly indoor skydiving facility. Jack Stone, Doug Banerjee and Andrew Hanson of Greysteel represented the Chicago-based seller and procured the California-based buyer in the transaction.
IRVINE, CALIF. — Rockefeller Group has completed the sale of a newly constructed cross-dock industrial building located at 1445 S. Tippecanoe Ave. within the Tri-City Industrial Complex in Irvine. Nuveen Real Estate acquired the 344,249-square-foot facility for an undisclosed price. At the time of sale, the property was fully leased to Home Chef, a division of Kroger, and Protempo, a global third-party logistics provider. Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Chuck Belden, Kyle Kehner, Milo Lipson and Tim Pimentel of Cushman & Wakefield represented the seller in the deal.
INDIANAPOLIS — Sansone Group, in partnership with CenterSquare Investment Management, has acquired a 424,849-square-foot industrial building located at 7520 Georgetown Road in Indianapolis. The purchase price was not disclosed. The property is part of a larger master-planned industrial park. The building features 19,417 square feet of office space, 37 dock doors, 43 trailer parking stalls and 594 car parking spaces. Vince Bajardi and Jake Corrigan of St. Louis-based Sansone represented the company in the purchase. Matt Kiger of Newmark Knight Frank and Conrad Jacobs of Halakar Commercial Real Estate brokered the transaction. Duke Secured Financing 2009-1ALZ LLC was the seller.
BETHEL PARK, PITTSBURGH and NORTH VERSAILLES, PA. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired three senior living communities in the Pittsburgh metro area. The properties include The Residence at Bethel Park in Bethel Park, The Residence at Whitehall in Pittsburgh and Point Pleasant in North Versailles. Grace Management will take over operations of all three communities. The Residence at Bethel Park is also a rebrand to reflect the new ownership of the community, which was formerly known as The Residence at Logan. Terms of the deal, including the seller and price, were not disclosed. CPF plans to make capital investments in the campuses.
