EDGEWATER, COLO. — California-based Trion Properties has acquired Terra Village Apartments in the Denver suburb of Edgewater for $110 million, or $273,631 per unit. The seller was not disclosed. Located at 6201 26th Ave., Terra Village features 402 apartments. Trion Properties plans to upgrade the property and units with new kitchen cabinets, stainless steel appliances, tile backsplashes, updated bathrooms and washers/dryers in each unit. Elliott Polanchyck, Will McCauley, Phil Dankner, Kevin Higgins and Marc Lippitt of Unique Properties/TCN Worldwide and the Unique Apartment Group handled the transaction.
NAPERVILLE AND WARRENVILLE, ILL. — Greenstone Partners has brokered the sale of a three-building office portfolio in Naperville and Warrenville for $16 million. Named the Cantera-Naperville Office Portfolio, the collection of assets totals 130,000 rentable square feet and is 86 percent leased. The properties are located at 4300 and 4580 Weaver Parkway in Warrenville and 1601 Bond St. in Naperville. Jason St. John and Paul Tesdal of Greenstone represented the seller, a Naperville-based real estate operator. The duo also procured the buyer, a Chicagoland-based family office that completed a 1031 exchange.
BOSTON — Arden Logistics Parks, the industrial investment arm of Philadelphia-based Arden Group, has purchased a portfolio of eight industrial properties totaling roughly 1.3 million square feet that are located throughout southeast Massachusetts. The sales price was $160 million. Specifically, the properties, which were built between 1968 and 2016, are located in Mansfield, Fall River, New Bedford, Seekonk, Attleboro and Norton. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines of CBRE represented the seller, Westbrook Partners, in the transaction. At the time of sale, the portfolio was 97 percent leased to 23 tenants, including Nestle, T-Mobile, Displays2Go and Whirlpool.
WELLESLEY, MASS. — Newmark has negotiated the sale of Park 9, a 375,058-square-foot office campus in Wellesley, a western suburb of Boston. The four-building development is leased to tenants such as Sun Life, Morgan Stanley and Boston Children’s Hospital and includes a 120,000-square-foot structure with immediate life sciences conversion potential. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, BentallGreenOak on behalf of Sun Life, in the transaction and procured the buyer, Beacon Capital Partners.
LAS VEGAS — Avison Young has arranged the sale-leaseback of two adjoining medical office buildings located at 7189 and 7195 Advanced Way in Las Vegas. Nashville, Tenn.-based Montecito Cos. acquired the assets from a group of six physician owners for $8.4 million, or $400 per square foot. Advanced Orthopedics and Sports Medicine fully occupy the two 21,000-square-foot properties. The seller signed a 15-year lease for the space. Built in 2009 and renovated in 2019 and 2020, the Class A properties feature orthopedic examination rooms, radiology and physical therapy spaces. The buildings are part of a three-building campus that includes an ambulatory surgery center building. Barton Hyde of Avison Young represented the seller in the deal.
ELK GROVE VILLAGE, ILL. — A joint venture between Clear Height Properties and Blackbird Investment Group has sold a 112,000-square-foot industrial building in Elk Grove Village for an undisclosed price. The property, located at 1250-1350 Greenleaf Ave., is fully leased to Brett Anthony Foods. In early 2018, Clear Height began planning with Brett Anthony Foods on site selection. Clear Height and Blackbird acquired the adjacent building at 1250 Greenleaf Ave. in January 2021 through a sale-leaseback transaction. A project team consisting of DSI Group, Michael Weber Architects, Cartland Kraus and Cage Engineering merged the two buildings via a 10,000-square-foot addition and completed improvements to the façade, main entrance, parking lot, landscaping and office portion. Michael Caprile, Zach Graham, Jason Lev and Ryan Bain of CBRE represented Clear Height in the sale. An institutional investor acquired the asset.
SHELTON, CONN. — New Jersey-based investment firm Devli Real Estate has acquired a 209,773-square-foot industrial property in Shelton, located in the southern coastal part of the state. The property sits on 14.7 acres at 510 River Road and is leased to Talalay Global, a manufacturer of mattresses and other bedding products. The seller and sales price were not disclosed.
CHATTANOOGA, TENN. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Towne Center North, an 89,327-square-foot shopping center located on 12.2 acres along Tenn. Highway 153 in Chattanooga. An entity doing business as Credi Bakersfield LP purchased the shopping center from an entity doing business as Towne Center North LLC for $16.7 million. Built in 2006, Towne Center North’s tenant roster includes Best Buy, Bed Bath & Beyond and PetSmart. Target shadow-anchors the property. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller in the transaction. Matt Berres, Samer Khalil, Karick Brown and Eric Tomchik of Newmark represented the buyer.
GARNER, N.C. — Newmark has arranged the sale of an 11,400-square-foot retail property located at 932 Heather Park Drive in Garner, approximately seven miles south of Raleigh. The property is triple-net-leased to KinderCare, an early childhood education and childcare provider with 1,500 learning centers nationwide. KinderCare has 12 years remaining on its lease term, which features four five-year extension options. Matt Berres, Samer Khalil, Karick Brown and Bert Sanders of Newmark represented the seller, an undisclosed public REIT, in the transaction. Clark Everitt of Investment Real Estate Associates (IREA) represented the private buyer, which purchased the facility for an undisclosed price.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of The Crossings 820, a 418-unit apartment community in Fort Worth. Built in phases between 1967 and 1971, the property features one-, two- and three-bedroom units and amenities such as multiple pools, courtyards and gardens and onsite laundry facilities. Al Silva of Marcus & Millichap represented the seller, Applesway Investments, in the transaction. Silva also procured the buyer, a private Dallas-based investment group. The previous ownership invested roughly $3.5 million in capital improvements to the property between 2015 and the present day.