PHOENIX — Newmark has arranged the $255 million sale of a four-property, Class A seniors housing portfolio in Phoenix and its suburbs. The LivGenerations portfolio totals 546 units comprising independent living, assisted living and memory care units. The seller built all four communities — LivGenerations Agritopia, LivGenerations Ahwatukee, LivGenerations Pinnacle Peak and LivGenerations Mayo Boulevard — between 2014 and early 2022. Newmark represented the seller, regional owner-operator and developer Liv Communities, in the transaction. The buyer was not disclosed.
LANCASTER, OHIO — Marcus & Millichap has arranged the $10.6 million sale of Plaza Shopping Center in Lancaster, about 33 miles southeast of Columbus. The 210,522-square-foot property was 87 percent leased at the time of sale to tenants such as Ollie’s Bargain Outlet, Planet Fitness, AutoZone, Family Dollar, UPS Store, Rent-A-Center and Buffalo Wild Wings. Scott Wiles, CJ Jackson, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, an Ohio-based REIT. The team also procured the buyer, Americas Realty LLC.
OLATHE, KAN. — Sealy & Co. has acquired a 569,584-square-foot industrial building in Olathe for an undisclosed price. The property, located at 1508 S. Green Road within the I-35 Logistics Park, is fully leased to a Fortune 500 tenant. The building features a clear height of 36 feet, 76 dock-high doors, three drive-in doors and a 135-foot truck court. Jason Gandy and Davis Gibbs led the acquisition on behalf of Sealy & Co. JLL brokered the sale on behalf of the seller, Scannell Properties.
DURHAM, N.C. — Northmarq has secured the sale of Trinity Commons at Erwin, a 342-unit apartment community located at 2530 Erwin Road in Durham. Jeff Glenn, Allan Lynch, Andrea Howard, Caylor Mark, John Currin and Ryan Bergin of Northmarq’s Carolinas investment sales team represented the seller, Northwestern Mutual Real Estate, in the transaction. The buyer and sales price were not disclosed. Amenities at Trinity Commons include a fitness center with yoga studio, resistance pool, hot and cold tubs, dry sauna, saltwater pool with a sundeck, three private courtyards with fountains, outdoor kitchen and bar with a pizza oven and secured parking garage.
POOLER, GA. — Marcus & Millichap has negotiated the $32 million sale of Pooler Pointe, a 160,683-square-foot shopping center located in Pooler. The property is located near Tanger Outlets Savannah, the Port of Savannah and Savannah/Hilton Head International Airport. Pooler Pointe’s tenant roster includes Hobby Lobby, HomeGoods and Dick’s Sporting Goods. Tim Giambrone of Marcus & Millichap’s Atlanta office represented the buyer, a private investment firm, in the transaction. The seller was also not disclosed.
MOBILE, ALA. — Legacy Realty Group Advisors has brokered the $7.4 million sale of Hillcrest Marketplace, a 76,000-square-foot shopping center located at 6300 Grelot Road in Mobile. The property was 95 percent leased at the time of sale to tenants including anchor Winn-Dixie. Jacob Baruch and Max Yardeni of Legacy Realty represented both the buyer and seller in the transaction. Both parties requested anonymity.
SAN DIEGO — Preservation Equity Fund Advisors has purchased Alcove East Village (formerly known as Nook East Village) in San Diego from an undisclosed seller for $20 million. Built in 2019, the five-story Alcove East Village features 91 affordable residences for individuals and veterans. Each apartment averages 254 square feet and includes kitchenettes with under-counter refrigerators, two-burner stove tops, microwaves, private bathrooms and hardwood floors. Select units offer balconies. The community has eight units allotted for residents earning up to 30 percent of the area median income (AMI), two units at 65 percent AMI, 80 units at 80 percent AMI and one manager unit. Regulatory agreements require five units to be fully handicap accessible and two unit to be accessible to the hearing and visually impaired. As of September 2022, the property was 95.6 percent occupied. Onsite amenities include a community room, laundry facilities, elevator, controlled access, leasing office, rooftop patio, bike parking, Amazon Hub lockers and valet trash pickup.
FREEPORT, ILL. — Coldwell Banker Commercial McGuire Mears & Associates has negotiated the sale of a 488,000-square-foot industrial facility in Freeport, a city in Northwest Illinois. The sales price was undisclosed, but the list price was $7 million. The building is roughly 70 years old and features a clear height of 26 feet, 30 exterior docks and 10 drive-in doors. Adam Shultz of Coldwell Banker Commercial McGuire Mears & Associates represented the seller, an affiliate of Janesville, Wis.-based Badger Property Investments LLC. The buyer was an affiliate of Milwaukee-based Phoenix Investors LLC.
DORAL, FLA. — Marcus & Millichap has brokered the $57 million sale of Doral Shops, a 113,354-square-foot shopping center located at 11402 N. West 41st St. in Doral, a suburb of Miami. Built in 2002 on nearly six acres, the shopping center was 99 percent leased at the time of sale to Navarro Discount Pharmacy, as well as 12 restaurants and several service-oriented tenants on the ground floor. The second floor of Doral Shops, which spans roughly 40,000 square feet, houses service retailers and some offices. Scott Sandelin and Edward Romo of Marcus & Millichap’s Miami office represented the seller, a limited liability company that developed Doral Shops 20 years ago. The buyer was also a limited liability company. Both parties requested anonymity.
PHOENIX — Cushman & Wakefield has brokered the sale of Westridge Shopping Center, located at 7540 and 7606 W. Indian Road in Phoenix. New Jersey-based Westridge Phoenix acquired the asset from DPM Westridge Shopping Center for $6.8 million. Built in 1985 and renovated in 2017, Westridge Shopping Center features 58,670 square feet of retail space on 5.3 acres. At the time of sale, the property was 81 percent leased. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the deal.