ST. JOHNS, FLA. — CBRE has brokered the $19.2 million sale of Shoppes at Beachwalk, a newly built, Publix-anchored shopping center located on County Road 210 in St. Johns, a suburb of Jacksonville. The developer, Pebb Enterprises, delivered the 58,887-square-foot shopping center last year. Publix Super Markets purchased Shoppes at Beachwalk, which was fully occupied at the time of sale. Casey Rosen and Dennis Carson of CBRE’s National Retail Partners team represented the seller in the transaction.
LACEY, WASH. — Matthews Real Estate Investment Services has arranged the sale of a healthcare building located at 5180 Yelm Highway in Lacey. An undisclosed seller sold the property to an undisclosed buyer for $8.2 million. DaVita occupies the property. Melanie Selleck and Devon Dykstra of Matthews Real Estate Investment Services represented the seller, while Lee & Associates represented the buyer in the deal.
WILLIAMSBURG, VA. — Broad Street Realty Inc. has plans to acquire Midtown Row, a mixed-use property in Williamsburg. The firm plans to close the $122 million acquisition by the end of the second quarter. The seller was not disclosed. Midtown Row features 240 student housing units with 620 beds. The property also includes 63,573 square feet of retail space, as well as entertainment and office space. The property is located adjacent to the historic campus of the College of William & Mary, less than one mile from Colonial Williamsburg and less than five miles from Jamestown, Yorktown and Busch Gardens.
CHESAPEAKE, VA. — Marcus & Millichap has arranged the sale of Marina Point Apartments, a 104-unit multifamily property in Chesapeake. Annapolis, Md.-based MRKT Realty LLC purchased the property for $14.2 million. Altay Uzun, Justin Ferguson, Theo Jolley and David Chae of Marcus & Millichap represented the seller, an undisclosed joint venture headed by Phil Capron. Built in 1965 and situated on 7.8 acres, Marina Point features 13 buildings and offers one-, two- and three-bedroom floorplans. Each unit features hardwood flooring and walk-in closets. Community amenities include package services, a playground, maintenance onsite, property manager onsite, picnic area and boat docks. Located at 1301 Canal Drive, the property is situated near the Elizabeth River, as well as retailers such as 7-Eleven and Walgreens. The property is also located 10.4 miles from Norfolk State University and 17.1 miles from Norfolk International Airport.
BOULDER, COLO. — CBRE has arranged the sale of a two-property student housing portfolio located near the University of Colorado, Boulder. Greystar acquired the communities — The Hive 9Seventy and The Hive Baseline — for an undisclosed price. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE represented the undisclosed seller in the transaction. The Hive 9Seventy is located at 970 28th St. and The Hive Baseline is located at 2726 Moorhead Ave. Both properties are located within walking distance of the university. “Our team is thrilled to represent this significant transaction in the high-barriers-to-entry Boulder market,” says Fitts. “The portfolio received amazing interest from investors and offered average monthly per-bed rents of $1,532, with the ability to drive revenue through furnishing the properties and unit renovations at The Hive Baseline.”
RIVERSIDE, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of ReNew Riverside, a multifamily property in Riverside. FPA sold the asset to Interwest Capital Group for $35.3 million, or $276,171 per unit. Built in 1987, the property features 128 two-bedroom units with an average size of 841 square feet. Community amenities include a swimming pool, business center, laundry facility and covered parking. Alexander Garcia Jr., Tyler Martin and Christopher Zorbas of IPA represented the seller and procured the buyer, which assumed the existing debt, in the deal.
NORCROSS, GA. — Dallas-based Westmount Realty Capital has purchased Atlanta Plaza 85, an infill industrial portfolio in the northeast Atlanta suburb of Norcross. The sales price and seller were not disclosed. Atlanta Plaza 85 is a 191,526-square-foot portfolio featuring nine flex/light industrial buildings, with each building averaging 21,281 square feet. The Atlanta Plaza 85 portfolio offers direct access to Interstates 85 and 285 and Jimmy Carter Boulevard. Built between 1979 and 1987, the portfolio was 91.9 percent leased at the time of sale to 49 tenants. Westmount Realty Capital plans to make capital upgrades of more than $1 million over the next five years, including roof replacements and repairs, corridor upgrades, space conversion and HVAC and paving repairs.
ROSWELL, GA. — Great Neck, N.Y.-based DNA Partners has sold Connexion at Holcomb Bridge, a 106,711-square-foot neighborhood shopping center in Roswell, about 21 miles from downtown Atlanta. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL Capital Markets represented DNA Partners in the sale. Brixmor Property Group purchased the property for $29.5 million. Connexion at Holcomb Bridge was 93 percent leased at the time of sale to tenants including Planet Fitness, Starbucks, Kale Me Crazy, My Salon Suite, Emory Healthcare Network, Dogtopia and From the Earth Brewing Co. Originally constructed in 1985, the property was expanded in 2014 and underwent a multimillion-dollar renovation in 2016. Situated on 11.8 acres at 1570 Holcomb Bridge Road, Connexion at Holcomb Bridge is located less than one mile from Ga Highway 400.
ROCHESTER, MINN. — Quantum Real Estate Advisors Inc. has arranged the sale of a freestanding medical office building in Rochester for an undisclosed price. Located at 124 Elton Hills Lane, the property is home to Bluestem Center for Child and Family Development. Seth Gilford of Quantum represented the seller, a Midwest healthcare provider. Zackary Hilgendorf of Quantum represented the buyer, a New York City-based medical acquisition fund.
HOLLAND, MICH. — JLL Capital Markets has brokered the sale of Felch Street Shopping Center in the Grand Rapids suburb of Holland. The sales price was undisclosed. The 166,100-square-foot shopping center is fully leased to tenants such as Barnes & Noble, Bed Bath and Beyond, Jo-Ann Fabrics, Old Navy, Jonathan Stevens Mattress, Party City, PetSmart, Shoe Carnival, T.J. Maxx and Ulta Beauty. Amy Sands, Clinton Mitchell, Michael Nieder and Matthew Schoenfeldt of JLL represented the undisclosed seller. A private fund based in the Southeast purchased the asset.