CHANDLER, ARIZ. — Evergreen Devco has acquired Chandler Pavilions, a shopping center located at 800-890 N. 54th St. in Chandler. Invesco sold the asset for an undisclosed price. Built in 1998, the value-add center features 163,594 square feet of retail space. Current tenants include REI, Bed Bath & Beyond, Golf Galaxy and Cost Plus World Market. Pat Dempsey of JLL represented the seller. Phoenix Commercial Advisors will continue to serve as leasing agents for the property.
DURANGO, COLO. — Marcus & Millichap has arranged the sale of Durango Town Center, a retail shopping center located in Durango. A private partnership led by David Spriggs of Denver-based DMS Real Estate sold the asset to a private local investor for $13.3 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller, while Brian Hagger, also of Marcus & Millichap, represented the buyer. Phillip Gause of Marcus & Millichap Capital Corp. placed financing on behalf of the buyer. Located at 1125, 1145 and 1185 S. Camino Del Rio, Durango Town Center features 41,781 square feet of retail space.
SPRINGFIELD, ORE. — Senior Living Investment Brokerage has negotiated the sale of ElderHealth & Living Memory Care Village in Springfield. Built in 1988 and expanded in 1996, the memory care community features 95 beds across 59 units. The facility is approximately 30,215 square feet and is situated on approximately 5.1 acres of land. A regional operator with multiple West Coast communities acquired the property for an undisclosed price. The seller, a local owner-operator divesting its only seniors housing community, will stay on as a consultant. A local bank provided a balance-sheet loan for the acquisition. Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.
TAMPA, FLA. — The Radco Cos. has sold Mabry Manor, a 372-unit multifamily community in Tampa, for $42.8 million. The property offers studio, one- and two-bedroom floor plans. Communal amenities include a pool, sundeck, fitness center, clubhouse, fishing lakes with floating deck and fishing pier, coffee bar, laundry facilities and a business center. Radco acquired the asset in 2016 for $20.1 million. The asset is located at 4902 N. Macdill Ave., five miles northwest of downtown Tampa in the Northwest Tampa submarket. TLR Group acquired the community. Jason Stanton and Cole Whitaker of Berkadia represented the seller in the transaction.
BOCA RATON, FLA. — Fairstead has acquired Gould House, a 101-unit Section 8 seniors housing community in Boca Raton. The property is located on the Jewish Federation of South Palm Beach County Campus. While the seller and price were not disclosed, Fairstead did unveil plans for a $6 million rehabilitation of the entire complex. The project will include new kitchens, baths, lighting, HVAC, flooring and windows for all apartments, as well as common area improvements to the security systems, grounds, lobbies, community room and management office. Fairstead financed the acquisition through the issuance of federal Low-Income Housing Tax Credits (LIHTC) and tax-exempt bonds from the Housing Finance Authority of Palm Beach County. The Freddie Mac lender/bond purchaser in the transaction was Berkadia Commercial Mortgage LLC, and the LIHTC investor was Regions Affordable Housing LLC.
DALLAS — New York City-based REIT Brookfield Properties has acquired a 95,440-square-foot industrial facility that is situated on a 15.2-acre site at 4444 Irving Blvd. in West Dallas. The property features a 57,000-square-foot terminal with 118 doors and ample car and trailer parking space. A national transportation company fully leases the asset, according to Brookfield. The seller was not disclosed.
PHOENIX — Newmark Knight Frank (NKF) has brokered the sale of Crossroads at Deer Valley Plaza, a shopping center located at 1838 W. Bell Road in Phoenix. An investment group led by Jeff Geyser sold the property to an undisclosed buyer for $5.8 million. The transaction includes the retail center and two billboards. Built in 2008 and remodeled in 2018, Crossroads at Deer Valley Plaza is fully occupied by a variety of tenants, including Eyeglass World, Wing Stop, L.A. Insurance, Royal Vapor, Cricket and DC Dental. Jesse Goldsmith, Steven Julius and Chase Dorsett of NKF represented the seller in the transaction. Jason Fessinger and Kalen Rickard of Western Retail Advisors represented the buyer.
PORTLAND, ORE. — Norris & Stevens has arranged the purchase of an office building located in Southeast Portland. Confederated Tribes of the Grande Ronde Community of Oregon acquired the property from Portland Limited Partnership for $1.4 million. Located at 3580 SE 82nd Ave., the building features 5,000 square feet of office space. Duane Link of Portland-based Norris & Stevens represented the buyer, while Mark Latimer of CBRE represented the seller in the deal.
PHILADELPHIA — Marcus & Millichap has arranged the $15.3 million sale of The Parkside Portfolio, a collection of retail and office buildings totaling 78,194 square feet in the West Parkside neighborhood of Philadelphia. The buildings are located at 5050, 4946, 4952-64 Parkside Ave. and are leased to national anchor tenants including Davita, Santander Bank and Goodwill. The office portion of the portfolio was fully leased to homecare, government and local professional tenants. Derrick Dougherty and Scott Woodard of Marcus & Millichap represented the seller, Rockland Capital, in the transaction. The team also represented the buyer, The Leser Group.
FAYETTEVILLE, TENN. — Newmark Knight Frank (NKF) has arranged the sale of two industrial buildings totaling 773,800 square feet in Fayetteville. The first building, located at 1810 Wilson Parkway, is a 695,000-square-foot property that was fully leased at the time of sale. The tenant was not disclosed but according to LoopNet Inc., the tenant is Goodman Manufacturing Co., which also sold the building in a sale-leaseback transaction. The property spans 57.5 acres and features block and insulated metal construction, 26-foot and 34-foot clear heights, 44,374 square feet of air-conditioned office space and a drive-in truck loading dock with an overhead crane. The second building comprises 78,800 square feet and is located at 1700 Wilson Parkway. The building was vacant at the time of sale. It features a 64,800-square-foot warehouse with 20-foot clear heights, five dock doors and one drive-thru dock, as well as a 10,400-square-foot office on the ground level. BSD Properties purchased 1700 Wilson Parkway, and 1810 Wilson Parkway LLC purchased 1810 Wilson Parkway. Michael Reid and Bart Hardison of NKF represented both the buyer and seller in the transactions. The sales price was not disclosed. The seller and sales price of 1700 Wilson Parkway were not disclosed.
