WHEATON, ILL. — JVM Realty Corp. has acquired Courthouse Square, a 149-unit apartment community in the western Chicago suburb of Wheaton. The purchase price was undisclosed. Located at 250 S. Naperville Road, Courthouse Square was built in 2016 and consists of two six-story buildings. Amenities include a pool and sundeck, concierge service, package receiving, fitness center and yoga studio, event room, outdoor deck, heated indoor garage parking, pet wash and bike repair stations. With this latest acquisition, JVM now owns and manages eight apartment communities in Illinois and 23 throughout the Midwest. Kevin Girard, Mark Stern, Zach Kaufman and Avi Schiffman of JLL represented the undisclosed seller.
ST. AUGUSTINE, FLA. — JLL Capital Markets has arranged the $24.1 million sale of Parkway Village at St. Johns, a 52,070-square-foot retail center located at the intersection of International Golf Parkway and Commerce Lake Drive in St. Augustine, roughly 40 miles southeast of Jacksonville. Danny Finkle, Alex Sharrin, Eric Williams, Jorge Portela, Jeff Cicurel and Kim Flores of JLL brokered the sale on behalf of the developer and seller, a joint venture between Stiles Corp. and Cantrell & Morgan. Built in 2022, the property was fully leased at the time of sale. A 52,070-square-foot Publix anchors the center. Other tenants include Supercuts, Orangetheory Fitness and The Loop, with Starbucks Coffee and Heartland Dental occupying two outparcels. An undisclosed private buyer acquired the property.
LITTLETON, COLO. — Blue West Capital has arranged the acquisition of Shops at Belleview, a net-leased retail building, located at 2727 and 2817 W. Belleview Ave. in Littleton. A Hawaii-based 1031 exchange investor acquired the asset from an undisclosed seller for $4 million. Shops at Belleview consists of two structures totaling 7,359 square feet, and was fully occupied at the time of sale. Current tenants include Black Rock Coffee, WingStop, Marco’s Pizza, Metro by T-Mobile and Trinity Nails & Spa. Bryce McNeely of Blue West Capital represented the buyer in the deal.
VALPARAISO, IND. — Marcus & Millichap has brokered the $2.5 million sale of a 7,433-square-foot medical office building in Valparaiso, a city in Northwest Indiana. The newly constructed property, located at 4400 Calumet Ave., is leased to a dentist and an ophthalmology practice. Mitchell Kiven of Marcus & Millichap represented the seller, the property’s original developer. Kiven also procured the Indiana-based buyer. Dean Giannakopoulos and Frank Montalto of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer.
DURHAM, N.C. — MEAG, in cooperation with CBRE Investment Management, has acquired Liberty Warehouse, a 247-unit residential community in downtown Durham, on behalf of Munich Re Group. Located at 530 Foster St., the property features 20,700 square feet of ground-floor retail space that was fully leased at the time of sale. Amenities at the community include a 24-hour fitness center, saltwater pool, tenant lounge and club room, pet run and pet spa, electric vehicle charging stations and 376 parking spaces. Charleston-based Greystar manages the property. The investment is part of a separate account mandate that MEAG recently signed with CBRE Investment Management to invest in the U.S. residential market. The seller and sales price were not disclosed.
PORT ST. LUCIE, FLA. — JLL Capital Markets has brokered the sale of a newly developed manufacturing and distribution facility located at 11675 S.W. Tom Mackie Blvd. in the South Florida city of Port St. Lucie. Bridge Net Lease, a subsidiary of Bridge Investment Group, acquired the 411,852-square-foot property, which is situated within Tradition Center for Commerce, a 1,247-acre master-planned development with office, retail, industrial, multifamily, recreational and entertainment space. Jason DeWitt, Luis Castillo, Brian Shanfeld, Cody Brais and Josh Katlin of JLL represented the undisclosed seller in the transaction. The sales price was not disclosed.
HOUSTON — Dallas-based REIT NexPoint Residential Trust Inc. (NYSE: NXRT) has sold Hollister Place, a 260-unit apartment community in northwest Houston that was built in 1997. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, clubhouse, lounge and onsite laundry facilities. NexPoint acquired Hollister Place, which was 93 percent occupied at the time of sale, in 2017 and implemented a value-add program. The buyer was not disclosed.
BELLEVUE, NEB. — Marcus & Millichap has brokered the sale of 25th Street Storage, a self-storage facility featuring 324 non-climate-controlled units and totaling 57,700 net rentable square feet in Bellevue. The buyer and sales price were undisclosed. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company. The property also features 92 outdoor parking spaces that are available for rent.
SEEKONK, MASS. — Atlantic Capital Partners, a division of Boston-based brokerage firm Atlantic Retail, has arranged the sale of Ann & Hope Plaza, a 107,597-square-foot shopping center located in Bristol County in southern Massachusetts. Harbor Freight Tools, Petco and Bed Bath & Beyond anchor the center, which was 86 percent leased at the time of sale, though Bed Bath & Beyond plans to shutter this store as part of a larger wave of closures. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the seller, Massachusetts-based Seekonk Mall Trust, in the transaction. The team also procured the undisclosed, Rhode Island-based buyer.
DENVER — NAI Shames Makovsky has arranged the sale of a retail property located at 70 N. Broadway in Denver. Fleming Building LLC acquired the asset from 70 Broadway LLC for $6.3 million. The property features 17,500 square feet of retail space. Todd Snyder and Joey Gargotto of NAI Shames Makovsky represented the seller in the deal.