IRVING, TEXAS — STRIVE has brokered the sale of Riverside Retail Strip, a 14,030-square-foot, Class A retail center located at 6421 Riverside Drive in Irving. Built in 2016, the center was 100 percent occupied at the time of sale to tenants such as Wayback Burgers, Donut House and Yummy Thai. Jason Vitorino of STRIVE represented the seller, a Dallas-based developer, in the transaction.
PHOENIX — Regent Properties has purchased Camelback Commons, a 322,406-square-foot office campus in Phoenix, for $66.4 million. The Class A office property is located at 4722 and 4742 N. 24th St. It was built in 1986 and underwent a $4.5 million renovation in 2015. CBRE’s Barry Gabel and Chris Marchildon represented the seller, a joint venture between McCarthy Cook & Co. and Morgan Stanley Real Estate Investing, in this transaction. CBRE Capital Market’s Debt & Structured Finance team secured the financing for the buyer. The firm has also been retained to lease the property.
LOS ANGELES — Sussex Capital Group has acquired The Hillpointe, a 30-unit apartment property situated in the Hollywood Hills neighborhood of Los Angeles, for $13.4 million. The community is located at 2330 N. Cahuenga Blvd. It was built in 1987. Peter Sherman of Avison Young represented both the buyer and seller, Inco Monterra, in this transaction.
ELK GROVE VILLAGE, ILL. — Darwin Realty has negotiated a 103,987-square-foot industrial lease for Marketplace Brands LLC in Elk Grove Village. The seasonal food gifts distributor will occupy the entire building located at 951 Fargo Ave. The property was recently renovated and features 22-foot clear heights, 11,000 square feet of office space, 10 dock positions and one drive-in door. Richard G. Daly and Adam Haefner of Darwin Realty represented the landlord, a private institutional investor. Joe Bronson and Josh Will of NAI Hiffman represented the tenant in the lease transaction.
SPRING, TEXAS — Berkadia has arranged the sale of Modera Spring Town Center, a 396-unit multifamily asset located at 21801 Northcrest Drive in Spring. Developed in 2014, the garden-style property offers a mix of one, two- and three-bedroom units. Ryan Epstein, Jennifer Ray, Wes Breeding and Scott Bray of Berkadia represented the seller and developer, Mill Creek Residential, in the transaction. Abbey Residential Services Inc. purchased the property for an undisclosed price.
RICHARDSON, TEXAS — EDGE Realty Capital Markets has brokered the sale of 1910 N. Collins Blvd., a 7,580-square-foot office building located at the intersection of North Collins Boulevard and West Campbell Road in Richardson. Stroud Arthur of EDGE represented the seller, 1910 N. Collins Medical LP, in the transaction. Linda Marver Trust acquired the asset for an undisclosed price.
CUMBERLAND, R.I. — CBRE/New England has arranged the sale of Cumberland Crossing, a garden-style apartment community located at 100 Crossing Drive in Cumberland. An affiliate of Jones Street Investment Partners acquired the 288-unit property for an undisclosed price. Completed in 2001, the 12-building community features 84 one-bedroom units, 204 two-bedroom units and a clubhouse. Simon Butler and Biria St. John of CBRE/New England represented the undisclosed seller and procured the buyer in the deal.
TOLEDO, OHIO — The Cooper Commercial Investment Group has negotiated the sale of the Jesse James Plaza, a 35,850-square-foot retail center in Toledo, for $2.9 million. Examples of tenants include Safelite Autoglass, Wings & Grill and Reynolds Laundromat. The Kansas-based buyer purchased the property for 96 percent of the list price. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, a private investment group out of Ohio.
VENTURA, CALIF. — Marcus & Millichap has arranged the sale of College Square Strip Center, a retail property located at 134-156 N. Ashwood Ave. in Ventura. An undisclosed buyer acquired the 7,680-square-foot property for $2.3 million. Brandon Michaels of Marcus & Millichap represented the seller, a limited liability company, in the transaction.
WOODLAND HILLS, CALIF. — NAI Capital has arranged the acquisition of a restaurant property located at 19723 Ventura Blvd. in Woodland Hills. Canzonet Investments purchased the restaurant property from Green Springs Partners for $1.9 million, or $585 per square foot. Sushi Ichiban Kan leases the 3,567-square-foot property. Matt Ehrlich of NAI Capital represented the buyer in the transaction.
