SANTA MONICA, CALIF. — Muselli Commercial Realtors has brokered the sale of a retail building located at 2914 Main St. in Santa Monica. An undisclosed buyer acquired the property for $3.2 million, or $1,780 per square foot. The buyer plans to occupy the 1,825-square-foot building, which is currently vacant. Evan Pozarny of Muselli Commercial Realtors represented the undisclosed seller in the deal.
LONGVIEW, COLO. — A regional private investor has acquired the 130-unit Mountain View Apartments in Longview for $10.5 million. The community is located at 2185 38th Ave. The asset has received recent capital upgrades. Major employers in the area include PeaceHealth St. John Medical Center, Winco Holdings Inc., Lower Columbia College, Pacific Lumber & Shipping Co. and Solvay Chemicals Inc. George Miller of Marcus & Millichap represented the buyer. The firm’s Joel Deis represented the seller, a regional private investment partnership, in this transaction.
EVERETT, WASH. — Brixton Capital has purchased Everett Mall, a 490,949-square-foot shopping center located in Everett, 28 miles north of Seattle. Everett Mall is home to a mix of national, regional and local tenants including Regal 16 Cinemas, LA Fitness, Burlington Coat Factory, Sears, Party City and Ulta Beauty. The seller and sales price were not disclosed.
ALEXANDRIA, VA. — Passco Cos. has acquired The Parker, a 360-unit multifamily community in Alexandria, roughly eight miles south of Washington, D.C., for $112.8 million. David Nachison of Eastdil Secured represented the seller, a joint venture between AEW Capital Management and MRP Realty, and Passco Cos. in the transaction. Chris Black and Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing through Fannie Mae on behalf of Irvine, Calif.-based Passco. Constructed in 2016, The Parker features two landscaped courtyards with gas grills and outdoor TVs, a swimming pool, virtual sport simulation room, fitness center, bike trail, outdoor fitness station and a dog park and washing station. The property is located next to the Huntington Metro Station and within walking distance to the Patent & Trademark Office. At the time of sale, The Parker was 92 percent occupied.
JERICHO, N.Y. — Getty Realty Corp. has acquired interests in 38 fee simple convenience store properties in metro Columbia, S.C., for $68.3 million. In July, the company entered into a sale-leaseback transaction with a U.S. subsidiary of Ireland-based Applegreen PLC. Under the revised terms of the transaction, Getty Realty acquired interests in the properties and simultaneously leased them under a unitary lease to Applegreen. The portfolio includes 33 convenience store and gasoline stations, many of which contain food offerings such as Burger King, Subway and Blimpie, and five standalone Burger King restaurants. The 15-year lease features four five-year renewal options, with rent scheduled to increase annually during the initial and renewal terms.
MEMPHIS, TENN. — Coastal Ridge Real Estate, in partnership with H. Katz Capital, has purchased The Preserve at Forest Creek, a 414-unit apartment community in Memphis, for $56.6 million. The joint venture acquired the asset from LivCor, a wholly owned subsidiary of Blackstone. Constructed in 2008, The Preserve at Forest Creek offers one- to three-bedroom units with monthly rents ranging from $929 to $1,518. Community amenities include a clubhouse with a bar, heated swimming pool, indoor sports court, fitness center, lighted tennis court, playground and detached garages. Located at 9230 Thornbury Blvd., the property is situated at the entrance to the Noncannah Technology Corridor, which is anchored by FedEx’s World Headquarters and FedEx’s World Tech Campus.
COLUMBIA, S.C. — CBRE has arranged the sale of Capitol Center, a 460,020-square-foot office building in Columbia. The 25-story tower is the tallest building in South Carolina, and was 87 percent leased at the time of sale to tenants including Haynsworth Sinkler Boyd, BB&T, Alliance Consulting Engineers, Gallivan White & Boyd and the South Carolina Department of Commerce. In addition, Capitol Center is home to Capital City Club, the building’s private dining club. Justin Parsonnet, Will Yowell, Ryan Reethof, Patrick Gildea, Martin Moore and Aaron Dupree of CBRE represented the seller, a joint venture between M&J Wilkow and Intercontinental Real Estate Corp., in the transaction. Hamilton Equity Partners, which acquired the building for an undisclosed price, will update the building’s main lobbies, conference facilities, elevators and common areas. Hamilton Equity has retained CBRE as the exclusive leasing agent for Capitol Center.
ORLANDO, FLA. — Hunter Hotel Advisors has arranged the $20.5 million sale of Comfort Inn Orlando Lake Buena Vista, a 200-room hotel situated a half-mile east of Walt Disney World in Orlando. Hunter Hotel Advisors represented the seller, Sun Vista Hotels, in the transaction. AD1 Global acquired the hotel, along with adjacent land that is entitled to build an additional 150 rooms. The hotel features an outdoor pool with a water slide, fitness center and complimentary shuttle service to Walt Disney World.
SAN ANTONIO — ARA Newmark has brokered the sale of Grand at the Dominion, a 320-unit, Class A multifamily community located at 23910 W. Interstate 10 in San Antonio. Situated across from the 53,000-square-foot Dominion Springs Plaza retail center, the property was 93 percent occupied at the time of sale. Grand at the Dominion’s community amenities include a pool with cabanas, yoga studio and indoor golf simulator. Pat Jones of ARA Newmark represented the seller, Embrey, a San Antonio-based development and management firm, in the transaction. New York-based Bluerock Real Estate LLC purchased the asset for an undisclosed price.
AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Wells Branch Self Storage, a 587-unit facility located at 1763 Wells Branch Parkway in Austin. Built in 1997 and situated less than a mile from Interstate 35, the facility measures 64,412 square feet and was 90 percent occupied at the time of sale. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a family trust based in New Jersey, in the transaction. The duo also procured the buyer, California-based Wells Branch Mini U Storage LLC.
