NEW JERSEY — Evans Senior Investments (ESI) has arranged the sale of a 120-bed skilled nursing community in New Jersey for $24 million. The property, the name and location of which were not released, was built in the last 20 years with multiple renovations since. ESI represented the seller, an independent owner-operator that sought to exit the long-term care industry. The buyer was an East Coast-based owner-operator of skilled nursing communities that wanted to grow its presence in New Jersey.
BURBANK, CALIF. — Cruzan and Independencia have purchased a post-production property in located at 2130 N. Hollywood Way in Burbank. Strategic Office Partners sold the asset for $37.4 million. Situated on 4.4 acres, the 95,000-square-foot facility was completed in 1965 and last renovated in 2017. Deluxe Media, a post-production, distribution and asset management company for the entertainment industry, occupies the single-story building. Mike Longo, Todd Tydlaska and Sean Sullivan of CBRE represented the seller in the deal. Greg Grant and Clayton Matsuda, also of CBRE, facilitated the acquisition loan on behalf of the buyer.
CHARLOTTE, N.C. — CBRE has facilitated the sale of Tranquil Court, a 62,983-square-foot mixed-use property located in Charlotte’s Midtown submarket. Childress Klein Properties and Gottesman Real Estate Partners acquired the property from Asana Partners for $32.7 million. The acquisition is the second joint venture between Childress Klein and Gottesman Real Estate Partners. Located at 2820 Selwyn Ave., Tranquil Court is situated about 4.4 miles from downtown Charlotte and is fully leased to a mix of 20 retail and office tenants. Built in 2009, the five-story property is adjacent to a residential property called Tranquil Court on Selwyn, which offers 104 residential units within four stories. Patrick Gildea, Matt Smith and Grayson Hawkins of CBRE represented the seller in the transaction.
ST. PETERS, MO. — Stan Johnson Co. has brokered the sale of an 11,591-square-foot industrial building in St. Peters, a northwest suburb of St. Louis, for more than $4.3 million. Herc Rentals occupies the single-tenant facility, which is located at 8016 Veterans Memorial Parkway. Built in 2008, the property sits on three acres. Zach Harris and Mark Grossman of Stan Johnson represented the seller, Nelson Grumney of Neland Investment Management. Patrick Doherty of Marcus & Millichap represented the buyer, a private investor completing a 1031 exchange.
DALLAS — California-based REIT PS Business Parks Inc. (NYSE: PSB) has acquired Port America, a 717,735-square-foot industrial development in Dallas, for $123 million. Port America, which is located near Dallas-Fort Worth International Airport, consists of eight buildings that were 96 percent leased at the time of sale. The average tenant suite is 8,000 square feet. The seller was not disclosed.
TEMPLE TERRACE, FLA. — CBRE has arranged the sale of Boardwalk at Morris Bridge, a 146-unit student housing property in the Tampa Bay area. Brooklyn, New York-based NorthEnd Equities purchased the property from Los Angeles-based Buff Management for $31.4 million. Michael Regan and Francesco Carriera of CBRE represented both the buyer and seller in the transaction. Built in 2001, Boardwalk at Morris Bridge is located at 8800 Boardwalk Trail Drive in Temple Terrace. The property is situated 2.9 miles from the University of South Florida and 4.8 miles from James A. Haley Veterans’ Hospital. The property offers two- and four-bedroom units with an average square footage of 1,548 square feet. All units are fully furnished and include living rooms with two sofas, coffee/end tables and a TV mounted to the wall. Community amenities include a swimming pool, fitness center, movie theater, study room, video game room and a hot tub. The property was 89 percent occupied at the end of July, and rents range from $1,360 to $2,400.
PITTSBORO, N.C. — Montecito Medical, a Nashville-based investor of healthcare-related properties, has acquired Chatham Park Medical Office Building, a 25,610-square-foot medical office property in Pittsboro, about 36.1 miles south of Durham. The sales price and seller were not disclosed. Built in 2016, Chatham Park is fully leased to UNC Health, a Chapel Hill-based healthcare system that is affiliated with the University of North Carolina School of Medicine and operates 12 hospitals across North Carolina. UNC Health provides family medicine, rheumatology, therapeutic infusion, cardiology, ENT, gastro, ophthalmology, orthopedics, urology, rehab, imaging and laboratory services at the Chatham Park clinic. Situated about 17 miles from Chapel Hill, the medical property is located close to Chatham Park, a 7,000-acre master-planned development that broke ground in 2014. Upon full buildout Chatham Park will include 22,000 single-family homes as well as onsite schools, 50 miles of walking and biking trails and 44 acres of retail, multifamily, restaurants, office and hospitality space.
FORT LAUDERDALE AND HIALEAH GARDENS, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of two convenience store and gas stations in South Florida that are leased to Wawa. The properties include a 6,119-square-foot Wawa currently under construction at 7878 N.W. 103rd St. in Hialeah Gardens and a newly built, 5,991-square-foot Wawa located at 6191 N. Powerline Road in Fort Lauderdale. Ferber Co. sold the Hialeah Gardens property for $11.6 million to an entity doing business as Hialeah WW LLC. Brightwork Real Estate sold the Fort Lauderdale Wawa for $10.8 million to an entity doing business as Powerline Wawa LLC. Patrick Nutt of SRS represented the sellers in both transactions.
HOUSTON — Bellomy & Co. has negotiated the sale of Houston Mini Storage, a 256-unit self-storage facility located about four miles north of downtown Houston. The property spans 34,660 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a Utah-based limited liability company, in the transaction. The duo also procured the buyer, a locally based entity doing business as Houston Mini Storage LLC.
PHOENIX — Decron Properties has purchased Broadstone Grand, a multifamily property located at 1003 W. Washington St. in Phoenix. Developer Alliance Residential Co. and partner Appian Capital sold the community for $106.5 million. Built in 2020, Broadstone Grand features 300 apartments; a pool area with waterfall feature and indoor-outdoor pool house; fitness center with outdoor yoga lawn and Peloton bikes; resident club room with demonstration kitchen; lounge and fireplace; and outdoor gourmet grilling areas. Additionally, the community’s gaming lounge offers a pool table, shuffleboard table, arcade games and entertainment island for resident events. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the sellers in the transaction.