TUCSON, ARIZ. — San Francisco-based Goodegg Investments and Manhattan Beach, Calif.-based Break of Day Capital have jointly acquired Mission Antigua, a 248-unit apartment community located in the Midvale Park area of Tucson, for an undisclosed price. Julie Lam and Annie Dickerson of Goodegg Investments and Gary Lipsky at Break of Day Capital led the acquisition teams. This is the eighth asset in Arizona for Break of Day Capital and the first for Goodegg Investments. Completed in 1989, Mission Antigua comprises 248 one-, two- and three- bedroom units and includes amenities such as a swimming pool, picnic area, fitness center and clubhouse. Individual unit amenities include fireplaces, ceiling fans, walk-in closets and balconies and patios. Select units include vaulted ceilings and in-unit washers and dryers. Approximately 70 percent of the units have been renovated, and Goodegg Investments and Break of Day Capital plan to renovate the remaining units.
SUISAN CITY, CALIF. — Red Bank, N.J.-based First National Realty Partners has acquired Heritage Park, a shopping center in Suisan City. Terms of the transaction were not released. Located approximately 42 miles southwest of Sacramento and 42 miles northeast of Oakland, Heritage Park features 167,000 square feet of retail space. A 60,000-square-foot Raley’s grocery store has anchored the property since 1989. Additional tenants include Ace Hardware, AutoZone, Dollar Tree, Dunkin Donuts, Mariner Finance and H&R Block. To date, First National Realty Partners’ portfolio includes nearly 9 million square feet of retail space spanning 20 states from coast-to-coast.
MODESTO, CALIF. — Faris Lee Investments has brokered the purchase of The Promenade Shopping Center, a community retail center in Modesto. A Modesto-based private family office acquired the property from an ownership group managed by Los Altos-based West Valley Properties for $25 million. Located at 3501 McHenry Ave., the 118,485-square-foot property was fully occupied at the time of sale. Current tenants include Ross Dress for Less, Barnes & Noble, AutoZone, Skechers, Hallmark, Cold Stone Creamery and Subway. Alexander Moore, Sean Cox and Don MacLellan of Faris Lee Investments represented the buyer in the transaction.
ADDISON, ILL. — Venture One Real Estate has acquired a 38,050-square-foot industrial building in Addison for an undisclosed price. The property, located at 502 Vista Ave., is fully leased to one tenant. Constructed in 1967, the building features a clear height of 14 feet, three dock doors, one drive-in door, parking for 44 cars and 6,904 square feet of office space. Noel Liston of Darwin Realty represented the undisclosed seller. Justin Lerner of Transwestern represented Venture One, which utilized its acquisition fund VK Industrial VI LP, a partnership between Venture One and Kovitz Investment Group.
OVIEDO, FLA. — JLL has arranged the sale of Oviedo Park Crossing, a 186,212-square-foot shopping center located roughly 16 miles northeast of Orlando in Oviedo. The open-air property was fully leased at the time of sale to tenants including Bed Bath & Beyond, T.J. Maxx, Ross Dress for Less, Michaels, Office Depot, PetSmart, Shoe Carnival, Sally Beauty Supply, America’s Best Contacts and Phenix Salon Suites. Situated on 29 acres at 1115 Vidina Place, the shopping center was completed in 1999 and renovated in 2019. The seller and sales price were not disclosed, but SITE Centers Corp.’s second-quarter results disclosed an affiliate sold the asset for $28 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction. Tamer Iskander with Tivoli Cove Capital represented the buyer, a group of Orlando-based private investors, in the deal.
LONG BEACH, CALIF. — Affiliates of Harbor Group International have purchased the Long Beach Coastal Collection, a portfolio of apartment communities in Long Beach, for $180 million. Built in 2019 and 2020, the portfolio features 348 apartments in a mix of studio, one- and two-bedroom layouts. Amenities at the properties include rooftop decks with panoramic views, 24-hour fitness centers, resident lounges, heated pools and spas, coworking spaces, and gaming and entertainment rooms. Geoff Boler of Eastdil Secured facilitated the transaction. The name of the seller was not released.
PHOENIX — LPC Desert West, the Southwest division of Dallas-based Lincoln Property Co., has completed the disposition of Twenty Seven Camelback, a Class A office building located in Phoenix’s Camelback Corridor. Rosebud Properties acquired the asset for $34 million. Located at 2777 E. Camelback Road, Twenty Seven Camelback features 109,291 square feet of office space. After acquiring the property in 2017, LPC implemented a renovation program, including an upgraded lobby, new conference facility, outdoor lounge area, and improved signage, landscape and hardscapes. Other amenities at the property include touchless entries, 13-foot ceilings, modern open layouts with exposed concrete aesthetics, flexible 36,000-square-foot floor plates and a two-level subterranean parking garage with direct elevator access to tenant spaces. At the time of sale, Twenty Seven Camelback was 87 percent occupied. Current tenants include UMB Bank, Abrazo Medical Group and Lavidge. LPC will continue to manage and lease the building for the new owners. Barry Gabel and Chris Marchildon of CBRE represented the seller in the deal.
HOUSTON — Capstone has arranged the sale of two manufactured housing properties totaling 322 sites in the Houston area. Anderson Oaks is a 177-site community on the city’s south side, and Chase Village is a 145-site property in the eastern suburb of Baytown. The properties had a combined occupancy rate of 97.5 percent at the time of sale. Ian Hilpl, Kevan Enger, Brian Hummell and Hunter LaRocca of Capstone represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
CARMEL, IND. — Gallelli Real Estate’s The Osborne Group has brokered the $29 million sale of a retail property occupied by CarMax Auto Superstore in the Indianapolis suburb of Carmel. The two-building property spans 55,536 square feet and features a main showroom, customer receiving bay, service shop and auto cleaning area. Robb Osborne and Kannon Kuhn of Osborne Group, along with Alex Davenport of Colliers, marketed the property on behalf of the seller, an entity doing business as MAX 22 LLC. Osborne’s team procured the buyer, Realty Income Corp. Used car dealer CarMax operates more than 220 locations across the United States.
RALEIGH, N.C. — Continental Realty Corp. (CRC) has purchased 800 St. Marys Apartments, a 65-unit multifamily community located at 800 St. Marys St. in downtown Raleigh’s Glenwood South neighborhood. Built in 2020 by Selwyn Property Group and Southeast Apartment Investors, 800 St. Marys is a four-story elevator building with townhomes and attached garages. Units come in one-, two- and three-bedroom floor plans ranging from 963 to 1,666 square feet, with an average unit size of 1,224 square feet. The community was 95 percent occupied at the time of sale. Community amenities include an outdoor terrace with a kitchen, fire pit with seating, fitness center, clubhouse equipped with flat screen TVs, wine lockers, complimentary coffee bar, business lounge with private conference center and a controlled-access parking garage. Adam Randall and John Westby-Gibson of Newmark originated an undisclosed amount of Freddie Mac acquisition financing on behalf of CRC, which purchased the asset through its Core Multifamily Fund LP in partnership with Baltimore-based Brown Advisory in an off-market transaction.