BROOKFIELD, WIS. — The Dickman Co. Inc./CORFAC International has negotiated the sale of an 8,500-square-foot industrial building in Brookfield. The sales price was not disclosed. The property is located at 21825 Doral Road. Cale Berg of the Dickman Co. represented the buyer, McCarthy Property Management LLC. Stephen Provancher of MLG Commercial represented the seller, Millicent F. Hawley.
AUSTIN, TEXAS — Intercontinental Real Estate Corp., a Boston-based real estate investment and development firm, has purchased 5th + Colorado, a newly built, 18-story office tower in Austin’s central business district. The company acquired the property from the developer, a joint venture between Lincoln Property Co. and Goldman Sachs, for $119 million, according to the Austin Business Journal. Located at the corner of 5th and Colorado streets within Austin’s Warehouse District, the 179,000-square-foot office tower comprises eight levels of structured parking, nine floors of Class A office space and a lobby level with 5,822 square feet of retail space. Built in 2016, 5th + Colorado is home to companies including Indeed.com, an online job search forum; Industrious, a co-working office concept; SoftServe Inc., a Ukranian software firm; Plains Capital Bank; and Sherri Hill, an Austin-based fashion brand relocating from 9011 Tuscany Way, according to the Journal. Amenities at the office tower include on-site management and security and a fitness center with showers and locker rooms. Located at 201 W. 5th St., the office building is within walking distance of Lady Bird Lake Hike and Bike Trail, the State Capitol, Austin City Hall, the Austin Convention Center and Republic Square Park. …
SAN JACINTO, CALIF. — Progressive Real Estate Partners has arranged the $4.9 million sale of Dollar General Town Center, a 27,112-square-foot retail center located in the Inland Empire community of San Jacinto. Dollar General anchors the fully occupied center. Greg Bedell of Progressive represented the seller, a private Huntington Beach-based investor, in the 1031 exchange transaction. Rob Sauser of PMZ Commercial represented the buyer, a private family trust based in Newport Beach.
CORONA, CALIF. — Six new tenants are set to open at Metro at Main, a mixed-use development located at North Main and Rincon streets in Corona. Tenants set to open include a 1,845-square-foot Coffee Bean & Tea Leaf; a 3,138-square-foot America’s Best Vision; a 1,398-square-foot Poki Cat; an 859-square-foot Organic Junkie; a 1,337-square-foot Meraki Salon; and a 1,199-square-foot Union Barber & Beer Lodge. The project features over 60,000 square feet of retail and 868 luxury residential units. Paul Galmarini and Gretchen Lastra of Progressive Real Estate Partners represented the landlord in the transactions.
CAMBRIDGE, MASS. — NKF has arranged the sale of an office and retail building located at 515 Massachusetts Ave. in Cambridge. S-BNK Cambridge LLC sold the asset to an undisclosed buyer for $30.1 million, or $649 per square foot. Santander Bank currently fully leases the 46,350-square-foot property. Geoffrey Millerd, Justin Smith, Paul Penman and Christian Brannelly of NKF represented the seller in the deal.
MIAMI — Blue Rock Partners LLC Affiliates, in partnership with institutional investors, has acquired Pinebrook Apartments, a 309-unit multifamily community in Miami. Pinebrook South Ltd. sold the property to the joint venture, known as Pinebrook Property Holdings LP, for $37.3 million. The joint venture comprises a Blue Rock Partners affiliate, a Canadian-based investment firm and a New York-based institutional investor. The company will invest roughly $3 million in exterior and interior upgrades and will rename the property The Park at Sheffield. Evan Kristol of Marcus & Millichap brokered the transaction, and Ladder Capital Finance LLC provided debt financing for the acquisition. At the time of sale, the property was 98 percent occupied.
SUGAR LAND, TEXAS — EDGE Realty Capital Markets has brokered the sale of Greenway Shopping Center, a 7,750-square-foot retail property located at 13400-13414 Greenway Drive in Sugar Land. The property was 100 percent leased at the time of sale. Josh Jacobs, Burdette Huffman and Kevin Holland of EDGE brokered the sale on behalf of the undisclosed seller. Other terms of sale were not released.
EL PASO, TEXAS — Condor Hospitality Trust Inc., a Maryland-based lodging REIT, has acquired the Fairfield Inn & Suites El Paso Airport, a Marriott-branded hotel located at 6611 Edgemere Blvd. in El Paso. Condor Hospitality purchased the asset from the undisclosed seller for $19 million. Amenities include a pool, fitness center and a business center. Condor Hospitality has retained Aimbridge Hospitality to manage the hotel.
COLERAIN AND WEST CHESTER, OHIO — Colliers International has brokered the sale-leaseback of two restaurant properties in Ohio for $5.3 million. Both single-tenant properties are net leased to TGI Friday’s. The property in West Chester sold for $2.2 million while the one in Colerain sold for $3.1 million. Chris Prosser, Jeff Johnston and Steve Timmel of Colliers International represented the seller, Bistro Real Estate Holdings. The buyer was not disclosed.
CARPENTERSVILLE, ILL. — Realty Metrix Commercial has negotiated four new leases at Spring Hill Market Place in Carpentersville, about 40 miles northwest of Chicago. MAACO Collision Repair, Pizza Hut, Tyke Play Kids Gym and Gyradikos have all signed leases at the 95,259-square-foot strip center. Built in 1990, the center is undergoing renovations to coincide with new tenant leases. Linda Kost and Dave Schmidt of Realty Metrix arranged the lease transactions.
