MONROE, N.C. — Big V Property Group has acquired Poplin Place, a 227,669-square-foot shopping center located in the southern Charlotte suburb of Monroe, for $28.3 million. Poplin Place was 94 percent leased at the time of the sale to tenants including T.J. Maxx, Ross Dress for Less, Big Lots and PetSmart, and is shadow-anchored by Target. Charlotte-based Berkeley Capital Advisors represented the seller, InvenTrust Properties, in the transaction.
BETHLEHEM, PA. — Larken Associates has acquired Pinnacle @ 65, a 10-story, 102,000-square-foot, mixed-use building in Bethlehem. The sales price was undisclosed. Located at 65 E. Elizabeth Ave., the property includes 48 residential units as well as 38,000 square feet of office and retail space. The building underwent a full renovation in 2017, including upgrades to the exterior façade, windows and common area corridors. Amenities include laundry and dry cleaning pick-up and drop-off, private storage units, and a package concierge system. Larken Associates acquired the property from Post Road Management.
LITTLETON, COLO. — AvalonBay Communities, an equity REIT, has purchased Ironwood at Red Rocks, a garden-style multifamily property located in Littleton. Embrey Partners developed and sold the property for an undisclosed price. The property features 256 units in a mix of one-, two- and three-bedroom units, the largest of which averages more than 1,300 square feet. Units feature large kitchen islands, under-mount sinks, granite countertops, stainless steel appliances, full-size washers and dryers, large patios and balconies, and spacious walk-in closets. Community amenities include a clubhouse, state-of-the-art fitness center, indoor yoga with spin bikes, a game room with billiards and shuffleboard, a resort-style pool with tanning ledges and a heated spa, an outdoor kitchen and lounge area with a fire pit, a catering kitchen and dining room, private garages and carports, a bike/ski workshop, and a pet spa. Shane Ozment and Terrance Hunt of Newmark Knight Frank Multifamily represented the seller in the transaction.
SAN DIEGO — Los Angeles-based Baron Equities has completed the sale of Aero Drive Self Storage, located at 9645 Aero Drive in the Kearny Mesa area of San Diego. A well-capitalized national operator acquired the facility for an undisclosed price. The property feature 88,000 square feet of self-storage space. Greg Wells of Cushman & Wakefield’s Self Storage Practice Group represented the buyer and seller in the transaction.
KENTWOOD, MICH. — Encore Real Estate Investment Services has arranged the $4.8 million sale of a single-tenant Ashley Furniture Homestore in Kentwood, about eight miles south of Grand Rapids. The 30,000-square-foot property is located on 28th Street. Ashley Furniture has approximately nine years remaining on its double net lease. Logan McAnallen of Encore represented the seller, a Michigan-based private partnership. A local real estate firm represented the undisclosed buyer.
WEST MILWAUKEE AND HARTLAND, WIS. — Zilber Property Group has acquired two industrial buildings in metro Milwaukee for an undisclosed price. The first is a 120,452-square-foot building located at 5000 Electric Ave. in West Milwaukee. Mainetti RTS fully occupies the property. The second is a 35,051-square-foot building at 1115 Cottonwood Ave. in Hartland. Axis Automation fully occupies the property, which is located within the Cottonwood Commerce Center. James Young of JLL represented the seller in the West Milwaukee transaction. Michael Kleber of Zilber represented Zilber.
MIAMI — Terreno Realty Corp. has sold an industrial property in Miami to an undisclosed buyer for $4.3 million. The property consists of one light industrial building totaling approximately 25,000 square feet on 1.2 acres, which was fully leased at the time of the sale to one tenant on a short-term basis.
NEW YORK CITY — Ariel Property Advisors has brokered the $4.5 million sale of a four-story mixed-use building in Brooklyn Heights. Located at 77 Atlantic Ave., the 7,895-square-foot property comprises two commercial units and six apartments. Victor Sozio, Sean Kelly and Matthew Lev of Ariel Property Advisors represented the seller, Silvershore Properties, in the transaction. The buyer was 77 ATL AVE LLC. The property is located near Brooklyn Bridge Park as well as retailers Urban Outfitters and Trader Joe’s.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Scottsdale Design District, a boutique showroom located on the corner of East Thomas Road and North 66th Street in Scottsdale. Chris Toci, Chad Littell and Brent Mallonee of Cushman & Wakefield represented the seller. The buyers were introduced to the asset by Brandon Holdings, the sponsor, and IX Advisors LLC, a real estate advisory based in Seattle. Local and nationally recognized interior designers, art dealers and retailers occupy the 109,652-square-foot property. Tenants include John Brooks, Pindler & Pindler, Century, Tower and Kravet.
DOUGLASVILLE, GA. — Site Centers Corp. has sold Douglasville Pavilion, a 266,247-square-foot shopping center in Douglasville. The Ainbinder Co. bought the property, which is located about 20 miles west of downtown Atlanta. The property’s anchors include Marshalls, Ross Dress for Less, Michaels, PetSmart, Big Lots and Office Max. Target is a shadow anchor. The center was 97 percent leased at the time of the sale. The sales price was not disclosed. CBRE represented Beachwood, Ohio-based Site Centers in the transaction.
