SHAKER HEIGHTS, OHIO — NAI Pleasant Valley has brokered the sale of a 37,000-square-foot office building located at 20820 Chagrin Blvd. in Shaker Heights, just east of Cleveland. The sales price was undisclosed. Gerilyn Gleason and Jeffrey Kahn of NAI Pleasant Valley represented the seller. The local buyer plans to occupy the property, which is near the Van Aken District, an $18.5 million mixed-use project featuring multiple retailers and apartments.
NEW YORK CITY — RIPCO Real Estate (RIPCO) has brokered the $7.4 million sale of Woolsey Station Post Office, a 7,668-square-foot building occupied by the United States Postal Service in the Astoria neighborhood of Queens. Located at 2268 31st St., the property is situated near multiple retail and restaurant businesses and offers convenient access to Interstate 278. Greg Batista, Todd Cooper and Mark Kaplan represented the seller, Ditmars Associates, in the transaction. LG Astoria LLC was the buyer.
PORT WENTWORTH, GA. — JLL has arranged the $19.6 million sale of a 281,467-square-foot distribution center in Port Wentworth. The property is situated at 110 Little Hearst Parkway, within Savannah River International Trade Park and six miles from the Port of Savannah. The asset was delivered in 2019. Patrick Nally, Trent Agnew, Matt Wirth, Britton Burdette, Dennis Mitchell and Pete Pittroff of JLL represented the buyer, Exeter Property Group, in the transaction. The seller was not disclosed.
SARASOTA, FLA. — Marcus & Millichap has negotiated the $3.1 million sale of Beneva Oaks, a 40-unit affordable housing community in Sarasota. The property offers one- and two-bedroom floor plans ranging from 521 to 702 square feet. Communal amenities include a community room with a fully equipped kitchen. Beneva Oaks is located at 650 N. Beneva Road, three miles east of downtown Sarasota. Luis Baez, Miles Tombrink, Casey Babb and Shawn Rupp of Marcus & Millichap’s The Babb Group represented both the buyer and seller in the transaction. Though neither was disclosed, the Sarasota Herald-Tribune reports the buyer was Beneva Redevelopment LP and the seller was an affiliate of Goodwill Manasota.
WEST NEW YORK, N.J. — Marcus & Millichap has brokered the $2 million sale of a 14-unit apartment property located in West New York, a western suburb of New York City. The property is located at 6115 Madison St. and was constructed in 1934. Jonathan Zamora of Marcus & Millichap represented the seller and procured the buyer. Both parties were private investors that requested anonymity.
SEDONA, ARIZ. — SRS Real Estate Partners has arranged the sale of The Collective Sedona, a shopping center located at 7000 AZ-179 in Sedona. An Arizona-based private investor sold the asset to a California-based private investor for $11.7 million. Built in 2000 and 2003, the six-building property features 52,518 square feet of retail space on 6.2 acres. At the time of sale, the property was 84 percent occupied by a variety of tenants, including Hilton Resorts, AmTrust Bank, Bay Equity Home Loans, Cucina Rustica and Snap Fitness. Sean Thomas of the SRS National Net Lease Group’s Phoenix office represented the seller, while Jim Ashcraft of Ashcraft Investment Co. represented the buyer in the transaction.
WACO, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Vantage at Waco, a 288-unit apartment community. The property was built on 20.2 acres in 2017 and is located about four miles from Baylor University. Vantage at Waco offers one-, two- and three-bedroom units averaging 838 square feet and amenities such as a pool, fitness center, dog park, business center and outdoor grilling areas. Will Balthrope, Tommy Lovell III and Richard Robson of IPA represented the seller, Vantage Communities, in the transaction. The buyer was an undisclosed 1031 exchange investor based in another state.
AZLE, TEXAS — Marcus & Millichap has brokered the sale of Flat Rock Road RV Park, a 101-site property located in Azle, located northwest of Fort Worth. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity. The deal closed at a sales price that was originally negotiated before the COVID-19 outbreak, according to Denninger.
PHOENIX — CBRE has brokered the sale of a single-tenant office building located at 16212 N. 28th Ave. in Phoenix’s Deer Valley submarket. Merit Properties Group sold the asset to a fund managed by a Chicago-based investment management firm for $7.6 million. Barry Gabel, Chris Marchildon and Will Mast of CBRE’s Phoenix office represented the seller in the deal. Situated on 3.8 acres, the 61,304-square-foot property has been fully leased to a government entity since 2004. The building was constructed in 1980 and extensively renovated in 2004, with numerous specialized tenant improvements.
RANCHO CUCAMONGA, CALIF. — A toy company has purchased a freestanding industrial property located at 9568 Richmond Place in Rancho Cucamonga. A private seller sold the asset for $7.6 million. Built in 1991, the 42,978-square-foot building features 24-foot clear heights, five dock-high loading doors, one ground-level door and 76 parking spaces. Additionally, the property features a two-story, 7,563-square-foot office space. Jason Chao and Charlie Noebel of CBRE represented the seller in the transaction.