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Champion Acquires Village at Wake Forest Student Housing Portfolio in Winston-Salem for $43M

by John Nelson October 19, 2022

WINSTON-SALEM, N.C. — Champion Real Estate Co. has purchased Villages at Wake Forest, a 75-unit portfolio comprising single-family homes and duplexes located across the street from Wake Forest University. Scott Clifton and Stewart Hayes of JLL represented Champion and the undisclosed seller in the $43 million transaction. Located at 961 Palm Drive in Winston-Salem, the 62-parcel portfolio, which will be rebranded as Victory at Wake Forest, is Champion’s first student housing community in North Carolina. The buyer plans to fully furnish all units and lease by the bed.

October 19, 2022

Acquisitions California Healthcare Office Western

Agora Realty Buys 75,000 SF Medical Office Building in Tarzana, California for $30M

by Amy Works October 19, 2022

TARZANA, CALIF. — Calabasas-based Agora Realty & Management has purchased Tarzana Medical Plaza, a three-story medical office building located at 5525 Etiwanda Ave. in Tarzana. An undisclosed seller sold the asset for $30 million in an off-market deal. At the time of sale, the 75,000-square-foot medical office building was 90 percent occupied. Current tenants include Providence Healthcare Systems, Cedars-Sinai Medical Care and Unilab Corp. Agora plans to complete an interior and exterior renovation on the property. Interior renovations will include upgraded elevator cabs, modern corridor finishes, lighting upgrades, and expanded and renovated lobby areas with enhanced wayfinding. The buyer also plans to add solar panels to reduce operating costs.

October 19, 2022

Acquisitions Development Florida Industrial Southeast

Cushman & Wakefield Arranges $18M Land Sale in Daytona Beach, Buyer Plans 777,200 SF Industrial Project

by John Nelson October 18, 2022

DAYTONA BEACH, FLA. — Cushman & Wakefield has arranged the $18 million sale of a 67-acre industrial land site located at 1094 S. Williamson Blvd. in Daytona Beach. The buyer, Karis, expects to deliver three Class A buildings totaling 777,200 square feet on the site by late 2023. Jared Bonshire, David Perez, Taylor Zambito and Matthew Trone of Cushman & Wakefield represented the buyer in the transaction. The sellers, John Schnebly and Craig Wells, are successor co-trustees of the Berrien H Becks Sr Revocable Trust. Karis has retained the Cushman & Wakefield team to lease the development, which will be located at the intersection of I-4 and I-95. The buildings will feature cross-dock configurations, up to 100 dock doors, 40-foot clear heights, large truck courts and ample off-dock trailer parking.

October 18, 2022

Acquisitions Hospitality South Carolina Southeast

Montford, Opterra Capital Acquire 136-Room Aloft by Marriott Hotel in North Charleston

by John Nelson October 18, 2022

NORTH CHARLESTON, S.C. — A partnership between The Montford Group and Opterra Capital has acquired the 136-room Aloft Charleston Airport and Convention Center hotel by Marriott in North Charlesotn. The hotel is situated across I-526 from Charleston International Airport and near the Tanger Outlets Charleston. The new ownership plans to invest nearly $3 million to renovate the hotel and has hired Aimbridge Hospitality as a third-party operator. The seller and sales price were not disclosed. The hotel features a fitness center, business center, market, lounge, indoor pool and dry cleaning services. In addition to the Aloft hotel, Montford and Opterra Capital are currently developing four hotels in the Charleston market, including Moxy by Marriott, which is currently under construction and scheduled to open in early 2023.

October 18, 2022

Acquisitions New Hampshire Northeast Retail

Atlantic Capital Partners Negotiates $10.7M Sale of Shopping Center in Hooksett, New Hampshire

by Taylor Williams October 18, 2022

HOOKSETT, N.H. — Boston-based brokerage firm Atlantic Capital Partners has negotiated the $10.7 million sale of a 155,820-square-foot shopping center in Hooksett, a northern suburb of Manchester. A 94,500-square-foot space formerly occupied by Kmart anchors the center, and other tenants include Applebee’s, Dollar Tree and New Hampshire Liquor & Wine Outlet. Justin Smith, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the seller, RK Centers, and procured the buyer, Brady Sullivan Properties, in the transaction.

October 18, 2022

Acquisitions California Office Western

Spectrum CRE Arranges $7.1M Sale of Office Building in Santa Clarita, California

by Amy Works October 18, 2022

SANTA CLARITA, CALIF. — Spectrum Commercial Real Estate has negotiated the off-market acquisition of an office property located at 25101 The Old Road in Santa Clarita. 360 Executive Suites SCV purchased the asset from an undisclosed seller for $7.1 million. The two-story building features 23,388 square feet of office space and comprises 90 private offices. Matt Sreden of Spectrum CRE represented the buyer in the deal.

October 18, 2022

Acquisitions Industrial Midwest Missouri Self-Storage

Argus Brokers Sale of 34,450 SF Self-Storage Facility in St. Louis

by Kristin Harlow October 18, 2022

ST. LOUIS — Argus Self Storage Advisors has brokered the sale of the Second Attic Self Storage property in St. Louis for an undisclosed price. The 34,450-square-foot facility sits on nearly two acres near I-170 and St. Charles Rock Road. Larry Goldman of Argus brokered the transaction. Second Attic Associates LLC sold the property to St. Charles Rock Storage LLC. INB Bank provided acquisition financing.

October 18, 2022

Acquisitions Multifamily Texas

ClearWorth Capital Acquires 202-Unit Multifamily Property in Richardson, Texas

by Taylor Williams October 17, 2022

RICHARDSON, TEXAS — Locally based investment firm ClearWorth Capital has acquired Belle Grove at Custer, a 202-unit multifamily property located in the northeastern Dallas suburb of Richardson. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a fitness center, business center, playground, tennis court, walking/biking trails and onsite laundry facilities. ClearWorth Capital purchased the asset from RealSource for an undisclosed price with plans to implement a value-add program. Chris Deuillet, William Hubbard and Jaxx Davis of CBRE brokered the deal. Belle Grove at Custer was 94 percent occupied at the time of sale.

October 17, 2022

Acquisitions Georgia Retail Southeast

Big V, Equity Street Capital Acquire 193,039 SF Retail Center in Brunswick, Georgia

by John Nelson October 17, 2022

BRUNSWICK, GA. — Big V Property Group, in partnership with Equity Street Capital, has acquired Glynn Isles, a 193,039-square-foot retail center located in the coastal Georgia city of Brunswick. Shadow-anchored by Target and Lowe’s Home Improvement, the center has averaged 98 percent occupancy. Tenants include Dick’s Sporting Goods, PetSmart, Ross Dress for Less, Michaels, Ulta Beauty and Old Navy. The seller and sales price were not disclosed.

October 17, 2022

Acquisitions Illinois Midwest Multifamily

Greenstone Partners Brokers $2M Sale of Apartment Building in Chicago’s Wicker Park

by Kristin Harlow October 17, 2022

CHICAGO — Greenstone Partners has brokered the sale of a 6,600-square-foot apartment building at 2049 W. Division St. in Chicago’s Wicker Park neighborhood for $2 million. The property features four recently renovated units as well as retail space. Brewster Hague and Danny Spitz of Greenstone represented the seller, a Chicago-based partnership, and procured the buyer, a California-based hospitality group.

October 17, 2022

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