FORT WORTH, TEXAS — JLL has negotiated the sale of 714 Main, a 185,000-square-foot office building in downtown Fort Worth. Built in 1921 and renovated in 2010, the 24-story property is located near Sundance Square and the Fort Worth Convention Center. Ryan Matthews of JLL represented the seller, XTO Energy Inc., in the transaction. The buyer was Tennessee-based Development Service Group Inc. The deal marks the sixth disposition by JLL of XTO’s downtown Fort Worth office assets.
INDIANAPOLIS — JLL has arranged the sale of Lake Pointe Center III and IV in Indianapolis for an undisclosed price. M&J Wilkow and a fund manager by DRA Advisors LLC purchased the pair of office buildings, which span 170,000 square feet. Recently updated amenities include an on-site conference facility and fitness center. Jim Postweiler, Peter Harwood and Derek Fohl of JLL arranged the sale on behalf of the seller, USAA Real Estate.
CLIVE, IOWA — Carter Validus Mission Critical REIT II Inc. has purchased the Clive Healthcare Facility for $23.5 million. The 58,156-square-foot property is situated on one acre in Clive, about 10 miles east of Des Moines. Constructed in 2008, the facility is fully leased and anchored by an ambulatory surgery center. The seller was not disclosed.
TUSCON, ARIZ. — Tucson-based Holualoa Cos. has acquired Gateway at Tucson, a student housing property located at 2800 W. Broadway Blvd. in Tucson. Bethesda, Md.-based CW Capital Asset Management sold the property, which was marketed via RealINSIGHT Marketplace, for $12.9 million. Gateway at Tucson features 188 units, totaling 552 beds, in a mix of one-, two, three- and four-bedroom layouts, averaging 1,074 square feet. Each unit is rented fully furnished, including a full appliance package, and each bedroom features a private bathroom. Built in 2015, the property is comprised of 10 two-story residential buildings and two single-story common area buildings. Community amenities include a swimming pool and spa, basketball court, fitness center, business center, study rooms, tanning beds and shuttle service to University of Arizona and Pima Community College. Jim Crews of Cushman & Wakefield’s Phoenix office represented the seller in the deal.
ENGLEWOOD, COLO. — NAI Shames Makovsky has arranged the sale of an office building in Englewood, a suburb seven miles south of Denver. Choice Screening Inc. acquired the property from Concord LLC for $2.2 million. Located at 8668 Concord Center Drive, the property features 13,225 square feet of office space. Trent Rice of NAI Shames handled the transaction.
ALPHARETTA, GA. — Grandbridge Real Estate Capital has secured a $30.5 million acquisition loan for a 251,000-square-foot, Class A office building in Alpharetta, about 24 miles north of Atlanta. Gerry Robbins of Grandbridge secured the financing, which features an initial period of interest-only, a 10-year term and 30-year amortization schedule on behalf of the undisclosed borrower.
PHOENIX — Cushman & Wakefield has arranged the sale of Zen Senior Living, a 99-unit seniors housing community in Phoenix’s Paradise Valley neighborhood. Investment Concepts Inc., a California-based investor, acquired the property from FPA5 Paradise Village, an entity of San Francisco-based FPA Multifamily. The price was $12 million. The two-story, garden-style community was built in 1985 but recently underwent a $1.6 million renovation project. Floor plans average 846 square feet. Jim Crews from the Cushman & Wakefield Phoenix office represented the seller.
FORT COLLINS, COLO. — FourPoint Student Housing Investments has arranged the sale of Stadium Apartments, a 389-bed student housing community located near Colorado State University in Fort Collins. The property offers fully furnished units with shared amenities including outdoor hot tubs, a fitness center, clubhouse and rooftop lounge. Chris Epp, Chris Bancroft and Meredith Wolff of FourPoint represented the seller, CSU Student Housing, in the transaction. A joint venture between an affiliate of Heitman and Timberline Real Estate Ventures acquired the property for an undisclosed price.
NOVATO, CALIF. — Marcus & Millichap has negotiated the purchase of Diablo Plaza, a retail property located in Novato. A limited liability company acquired the asset for $5.6 million. Ethan Pintard of Marcus & Millichap represented the buyer in the deal. The seller was not disclosed. Located at 975 Diablo Ave., the 10,948-square-foot property was fully leased at the time of sale. Tenants include Panda Express, Orangetheory Fitness and Domino’s. The 38,202-square-foot lot also includes 46 parking spaces.
NEWBURGH, IND. — Marcus & Millichap has brokered the sale of a 560-unit self-storage facility in Newburgh in southwestern Indiana. The sales price was not disclosed. The facility, located at 6998 Loehr Road, spans 74,562 square feet. The property includes 88 climate-controlled units, 411 drive-up units and 61 parking spaces. Jeffrey Herrmann, Sean Delaney and Michael Mele of Marcus & Millichap marketed the property on behalf of the undisclosed sellers. The team also secured and represented the buyer, Iron Gurad Storage.
