BRUNSWICK AND NILES, OHIO — United Church Homes, an Ohio-based nonprofit provider of senior living residential and healthcare services, has acquired two active adult communities in Northeast Ohio for an undisclosed price. Harbor Woods Living at Brunswick and Harbor Woods Living at Niles were each built in 2016. The four-story, rental properties consist of 127 units each and cater to active adults over age 55. Amenities include a fitness center, salon, library, game room and gathering spaces. Harbor Woods Living was the seller. United Church Homes says the acquisition is aligned with its strategy of expanding its portfolio of market-priced housing for middle-income, older adults.
BOSTON — JLL has negotiated the $12.2 million sale of a 26,500-square-foot industrial property located at 202 Southampton St. near downtown Boston. The single-story building features 29-foot clear heights, six loading docks with four drive-in doors and 33,000 square feet of excess parking housing 150 spaces. Michael Restivo of JLL represented the seller in the transaction. Brett Paulsrud and Sam Campbell of JLL arranged fixed-rate acquisition financing through Webster Five Centers Savings Bank on behalf of the buyer, a partnership between Oliver Street Capital and Bain Capital Real Estate.
PHOENIX — Cale Enterprises and Los Angeles-based 36th Street Partners have completed the disposition of Desert Gateway II, a two-building industrial property located at 747 and 777 W. Pinnacle Peak Road in Phoenix. A California-based private investor acquired the asset for $13.4 million in an off-market transaction. Completed in January 2018, the property features 76,874 square feet of Class A industrial space spread across two multi-tenant buildings. The 36,004-square-foot and 40,870-square-foot buildings feature 20-foot clear heights, 12-foot by 14-foot overhead doors, office build-out and air conditioning throughout the office and warehouse space. At the time of sale, the property was 95 percent occupied. Dylan Scott, Mike Ciosek and Eric Bell of Kidder Mathews served as leasing agents prior to the sale.
MADISON, WIS. — Marcus & Millichap has arranged the sale of a 117,791-square-foot industrial property in Madison for $6.4 million. Compass Group occupies the building, which is located at 2305 Daniels St. The tenant recently executed a new long-term, net lease. Brett Winger and Dominic Sulo of Marcus & Millichap’s The Sulo Group secured and represented the buyer, a limited liability company. Seller information was not disclosed.
MATTAPAN, MASS. — Avanath Capital Management, an owner-operator of affordable and workforce housing properties, has acquired Morton Village, a 207-unit community located in the Boston suburb of Mattapan. The workforce housing property was built in 1965 and features an average unit size of 920 square feet. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, the Mirak family, which built and managed the property for 55 years. The deal marks Avanath’s entry into the Boston affordable housing market.
LA QUINTA, CALIF. — San Diego-based Beacon Realty Advisors, in partnership with Charlotte-based Carolina Capital Real Estate Partners, has acquired Jefferson Square, a partially built, open-air retail center in La Quinta. Regency Centers, the original developer, sold the asset for an undisclosed price. Located at Fred Waring Drive and Jefferson Street, Jefferson Center is situated on approximately 10 acres. CVS/pharmacy currently anchors the property. Beacon plans to pursue a grocery, home improvement or medical tenant to occupy the existing vacant 14,000-square-foot box space. The Jefferson Center site features a fully constructed infrastructure with only half of the land fully developed.
DOTHAN, ALA. — Chase Properties has acquired Shops on the Circle, a 183,000-square-foot retail property in Dothan. TJ Maxx, Big Lots, PetSmart, Five Below and Old Navy anchor the center. The seller and sales price were not disclosed. Shops on the Circle is located at 3500 Ross Clark Circle, three miles northwest of downtown Dothan. Beachwood, Ohio-based Chase Properties says that despite COVID-19, the sale closed on schedule.
LANTANA, FLA. — HPI Real Estate Services & Investments has purchased a 752-unit, 72,910-square-foot CubeSmart self-storage facility in Lantana. CubeSmart manages the property, which is situated at 420 N. Fourth St., 11 miles south of downtown West Palm Beach. The asset was delivered in 2018 and offers 24-hour video surveillance, climate-controlled units and elevator access. The sales price was not disclosed, though Texas-based HPI says this is the first transaction of its new self-storage acquisition fund, which will acquire more than $125 million of assets over the next 12 months. According to Jon Erickson and Jonathan Vollinger of HPI, the all-cash deal closed in 37 days. Zack Urow and Richard Riddle of SkyView Advisors represented the seller, Florida-based Acorn Mini Storage, in the transaction.
ITASCA, ILL. — Stan Johnson Co. has arranged the sale of a 50,000-square-foot medical office building in Itasca, a western suburb of Chicago, for $20.6 million. The Class A property is located at 870 N. Arlington Heights Road. It is fully leased to a publicly traded healthcare services company under a 15-year net lease. The single-story building sits on six acres and includes traditional office space in addition to specialty pharmacy spaces, walk-in freezers and clean rooms. Construction of the property finished in August of this year. John Zimmerman and Craig Tomlinson of Stan Johnson represented the seller, a regional developer. A private group focused on single-tenant acquisitions was the buyer.
KALAMAZOO, MICH. — Berkadia has brokered the sale of a four-property, 427-unit multifamily property in Kalamazoo for an undisclosed price. The properties include Embassy Terrace, Greenbriar, Carriage Green and Regency Square. Jason Krug, Corey Krug, Kevin Dillion, Rick Vidrio, Rick Brace and Charley Henneghan of Berkadia’s Great Lakes team represented the Michigan-based seller as well as the buyer, Chicago-based Tricap Residential Group.