NEW YORK CITY — Marcus & Millichap has negotiated the $17 million sale of a 12-unit residential building located at 180 W. 81st St. on Manhattan’s Upper West Side. The property spans 21,568 square feet and includes three commercial spaces. Daniel Handweiler, Haley Hasho, Jacob Kahn, Joe Koicim, Peter Von Der Ahe and Seth Glasser of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both companies were private investors that requested anonymity.
DAVENPORT, IOWA — Marcus & Millichap has brokered the sale of a 3,305-square-foot retail property occupied by T-Mobile in Davenport. An undisclosed buyer purchased the asset for $2.2 million. The building is located at 3150 E. 53rd St. T-Mobile has more than eight years remaining on its 10-year lease. Dominic Sulo and Samuel Malato of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Jon Ruzicka assisted in closing the transaction as broker of record in Iowa.
HUTCHINS, TEXAS — Marcus & Millichap has negotiated the sale of a 69,750-square-foot industrial building in Hutchins, a southern suburb of Dallas. The property was built on 11.9 acres in 1986 and was occupied by Bocks Board Packaging, a provider of corrugated and other specialty paper products, at the time of sale. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors, in the transaction.
HILLSBORO, ORE. — Shelter Holdings has completed the sale of Meadows at Heron Creek, a garden-style multifamily community in Hillsboro. RISE Properties Trust, a Canadian real estate investment trust with offices in Vancouver and Seattle, acquired the asset for $48.2 million, or $270,786 per unit. Built in 2012, Meadows at Heron Creek features 178 apartments, ample parking and greenbelt and transit accessibility. Anthony Palladino, Giovanni Napoli and Philip Assouad of Institutional Property Advisors, a division of Marcus & Millichap, facilitated the transaction between the seller and buyer.
SARASOTA, FLA. — A joint venture between Miami-based Limestone Asset Management and Orion Real Estate Group has purchased two retail properties in Sarasota for $15.5 million. The properties are located at 362 and 371 St. Armands Circle on Lido Key, four miles west of downtown Sarasota. French pastry shop Le Macaron, fashion retailer Breezin’ Up and women’s clothing store Sahara occupy the property at 362 St. Armands. Tommy Bahama occupies the space at 371 St. Armands. Florida-based Ocean Bank provided acquisition financing to the buyers. The seller(s) was not disclosed.
TALLAHASSEE, FLA. — Boutique National LLC has negotiated the $8.3 million sale of four office buildings within Woodcrest Office Park in Tallahassee. The buildings total 89,284 square feet and are located at 323-325 John Knox Road, three miles north of downtown Tallahassee. At the time of sale, the assets were leased to 26 tenants. Nick Ganey, Tommy Szarvas and Estevan Lamas of Boutique National represented the buyer, an undisclosed private investor, in the transaction. Jimmy Nystrom of NAI Talcor represented the seller, an undisclosed limited liability company.
CHICAGO — JLL Capital Markets has arranged the sale of a new 3,000-square-foot retail property occupied by 7-Eleven in Chicago for $5.9 million. Located at 3159 N. Clybourn Ave., the property opened in July. Alex Sharrin, Alex Geanakos and Truman Tiernan of JLL represented the seller, GW Property Group. The buyer was undisclosed. With more than 68,000 stores across 23 countries, 7-Eleven is the world’s largest store chain in the convenience retailing industry, according to JLL.
SAN JOSE, CALIF. — KBS Real Estate Investment Trust II has completed the disposition of 250 Holger Way, an office building located within District 237, a 415,492-square-foot office/R&D complex in San Jose. Foster City-based Bailard acquired the property for $38.2 million. The 76,410-square-foot office building is one of eight buildings that make up District 237, which was built in 1999 and 2001. All buildings of the property feature efficient floorplates and high visibility with more than 3,000 feet of Highway 237 frontage. Joe Moriarty, Scott Prosser, Jack DePuy, Russell Ingrum, Brad Zampa and Mike Walker of CBRE Northern California Capital Markets represented the seller, while the buyer was self-represented in the deal. Bruce Fischer, Howard Chu and Robyn Foianini of Greenberg Traurig LLP’s Orange County office provided legal counsel for KBS in the disposition.
CERRITOS, CALIF. — Lee & Associates Orange has arranged the sale of a freestanding industrial building located at 12836 Alondra Blvd. in Cerritos. The property traded for $22.6 million. The names of the seller and buyer were not released. Situated in Cerritos Industrial Park, the 109,368-square-foot facility features 10 dock-high loading positions, 24-foot clear heights, a fenced yard and major street frontage on Alondra Boulevard. Jeff Gahagan of Lee & Associates Orange represented the seller in the deal.
HIALEAH, FLA. — CTO Realty Growth has acquired Westland Gateway, a 108,000-square-foot shopping center in Hialeah, for $21 million. Aldi, dd’s Discount, Ross Dress for Less and Bed Bath & Beyond occupy the property. Westland Gateway is located at 1460 W. 49th St., 15 miles northwest of downtown Miami. Daytona Beach, Fla.-based CTO Realty purchased the asset through a 1031 exchange. The seller was not disclosed.