HILL COUNTRY VILLAGE, TEXAS — San Antonio Commercial Advisors (SACA) has brokered the sale of The Alley on Bitters, a 30,000-square-foot shopping center located at 555 W. Bitters Road in the San Antonio metro of Hill Country Village. Bradley Suttle of SACA marketed the property on behalf of the seller, Artisans’ Alley Inc. and procured the buyer, a private trust.
HOUSTON — CBRE has arranged the sale of a 120-room Staybridge Suites hotel located at 9000 S. Main Street in Houston. Michael Yu, Rahul Bijlani, Eric Guerrero and Agrama Mannapperuma of CBRE represented the undisclosed seller in the transaction. St. Louis-based Midas Hospitality purchased the asset, its first Texas-based acquisition, for an undisclosed price.
RALEIGH, N.C. — Electra America has acquired The Flats on 401, a 300-unit apartment community located at 5721 Goodstone Drive in Raleigh. HFF’s Jeff Glenn, Justin Good and Allan Lynch brokered the transaction on behalf of the seller, a local partnership. The sales price was not disclosed, but the Triangle Business Journal reports that the asset sold for $41.6 million. Constructed in 2015, the property will be rebranded as Level at 401 with approximately $1.5 million dedicated to renovations of individual units and common areas. Level at 401 includes studio, one- and two-bedroom units and features a swimming pool, clubhouse, fitness center, professional area, outdoor fireplace and cabana area, spin room and courtyard gardens.
CHICAGO — Interra Realty has brokered the sale of a 43-unit multifamily property in Chicago’s Rogers Park neighborhood for $3.9 million. The property is located at 7245 N. Rogers Ave. The building features a mix of 12 studios, 24 one-bedroom units and six two-bedroom units. A 1,200-square-foot, vacant commercial space is best suited for office tenants. Craig Martin of Interra represented both the sellers and the buyers, local investors.
BROADVIEW, ILL. — Printing Arts has signed a 46,973-square-foot industrial lease in Broadview, about 12 miles west of Chicago. The printing production and materials storage company will occupy the space at 2105 W. 21st St. Printing Arts is expanding from an adjacent building. Mandy Lewandowski of Darwin Realty represented the landlord, Welbic III Broadview 21 LLC, in the lease transaction.
PHOENIX — Jevan Capital has acquired the 301-unit La Reserve at Forty-Fifth apartment complex in Phoenix for $12.7 million. The community is located at 2627 N. 45th Ave. It was built in 1972. La Reserve offers one- to three-bedroom units. Amenities include three swimming pools, basketball court, three laundry facilities and two picnic areas. Brett Polachek and Jim Crews of Cushman & Wakefield Phoenix represented the seller, CEGOP-PHX 1 LLC, in this transaction.
ROSAMOND, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant retail property located at 2938 Rosamond Blvd. in Rosamond. Newmar LLC acquired the property from a private partnership for $7.6 million. Rite Aid occupies the 17,277-square-foot property, which was built in 2016. Bill Asher of Hanley Investment Group represented the seller, while Jim Halferty of Lee & Associates represented the buyer in the deal.
DALLAS — A subsidiary of Michigan-based energy solutions firm Paradise Ridge Hydrocarbons Inc., which has provided equipment and services for cannabis growers in Washington, Oregon and Colorado, has purchased a 31,800-square-foot facility in Dallas. Branded the Agri-Campus Headquarters, the property offers a mix of office and warehouse space. The company plans to acquire and develop similar real estate projects in Texas in anticipation of the state legalizing cannabis.
DALLAS — The Siegel Group Nevada Inc. has purchased the former Regency Hotel, a four-building, 153,000-square-foot hospitality property located on the LBJ Freeway in northeast Dallas, for approximately $5 million. Originally constructed as a Holiday Inn in 1977, the property features a bar and restaurant, theater, fitness center, pool and banquet areas. As part of the property’s repurposing, the company plans to demolish the building that houses the bar, restaurant and banquet areas and construct a stand-alone retail property in its place.
DRIPPING SPRINGS, TEXAS — JLL has negotiated the sale-leaseback of an 18,313-square-foot post-acute rehabilitation facility situated on 10.6 acres at 3035 W. Highway 290 in the Austin suburb of Dripping Springs. Arizona-based STORE Capital purchased the five-building property from Mentis Neuro Health, which will leaseback 100 percent of the space for 15 years. Rudy Hubbard, Kevin McConn and Rick Goings led the JLL team in the transaction.
