CARROLLTON, TEXAS — Lee & Associates has negotiated a 38,282-square-foot industrial lease at 1624 W. Crosby Road in Carrollton. Ken Wesson and Adam Graham of Lee & Associates represented the landlord, EastGroup, in the lease negotiations. Nick Lee of NAI Robert Lynn represented the tenant, Transitions Group, a Kansas-based furniture and housewares supplier.
MOBILE, ALA. — Hutton Co. has sold McGowin Park, an approximately 375,000-square-foot, open-air shopping center located at 3075 Government Blvd. in Mobile. Cole Credit Property Trust IV Inc. purchased the asset for $77.8 million. Completed in 2016, McGowin Park’s tenant roster includes Dick’s Sporting Goods, Field & Stream, HomeGoods, Ross Dress for Less, Hobby Lobby, Best Buy, Old Navy, Petco, Ashley Furniture HomeStore and Dollar Tree. The center is shadow-anchored by Costco and Regal Cinemas and features additional development opportunities with three outparcel pads and two restaurant pads. Richard Reid and Jim Hamilton of HFF represented Hutton Co. in the transaction. Kevin MacKenzie and Mark Sixour of HFF arranged a $42.8 million, seven-year, fixed-rate acquisition loan through a life insurance company on behalf of Cole Credit Property Trust IV.
TUCSON, ARIZ. — Monument Capital Management has acquired the 272-unit Brookwood Apartments in Tucson for $13 million. The community is located at 201 S. Kolb Road. Common-area amenities include a courtyard, pool, spa, game room, dog park, laundry facilities and barbecue area. Brookwood Apartments features one- and two-bedroom, garden-style homes with eat-in kitchens, walk-in closets and private patios or balconies. Monument Capital Management plans to implement value-add upgrades throughout the property to improve the units’ interiors, including washer/dryer connections, black appliances, refinished countertops, faux wood flooring, brushed nickel light and plumbing fixtures.
COLUMBUS, OHIO — Bull Realty has brokered the sale of a BIOMAT specialty medical facility in Columbus for $3.3 million. The 14,957-square-foot property is a plasma collection facility, one of over 200 collection facilities in 32 states owned by parent company Grifolis. The single-tenant, net-leased property is situated on 3.4 acres. BIOMAT has nine years remaining on the triple-net lease. Michael Bull and Nancy Miller of Atlanta-based Bull Realty represented the buyer, Apple Ridge/Cherry Ridge LLC, which purchased the property as part of a 1031 exchange. Brian Smith of Marcus & Millichap represented the seller, White Owl LLC.
CHICAGO — Baum Realty Group LLC has arranged the sale of a 16,180-square-foot mixed-use building located at 6-8 S. Clark St. in Chicago. The sales price was not disclosed. The first floor of the building was previously occupied by a Wendy’s restaurant while the other three floors have been vacant in recent years. Greg Dietz and Danny Spitz of Baum represented the undisclosed seller. An out-of-state investor purchased the property.
VERNON HILLS, ILL. — Inland Real Estate Acquisitions Inc. has purchased The Commons at Town Center in Vernon Hills, a northern suburb of Chicago, for an undisclosed price. The 85-unit apartment property is located at 1255 Town Center Road. Constructed in 2010, the property sits on 2.4 acres and features a mix of one-, two- and three-bedroom units. The property also includes 10,609 square feet of first-floor retail space. Tenants include Sam Martirano Salon & Spa, Hawthorn Dental Associates, Eight Piece Rolls, Design Studio Jewelry LLC and Giuseppe’s Pizza Restaurant. The Commons at Town Center was 96 percent leased at the time of sale. Joe Cosenza and Brett Smith of Inland closed the transaction on behalf of Inland Residential Properties Trust Inc.
WALPOLE, MASS. — A joint venture between Benchmark Senior Living and Farallon Capital Management has acquired New Pond Village, a continuing care retirement community (CCRC) in the Boston suburb of Walpole. BH Brightview New Pond Village LLC sold the property for an undisclosed price. The community offers 167 independent living units and 32 supportive living units. The three-story, 259,000-square-foot building was built in 1990 on 19.4 acres. New Pond is Massachusetts-based Benchmark’s 54th community and fourth CCRC. Allen McMurtry, Paul Carr, David Kliewer and Megan Fetter of Cushman & Wakefield represented the seller in the transaction.
SAN ANTONIO — San Antonio Commercial Advisors (SACA) has arranged the sale of Callaghan Road Shopping Center, an 11,369-square-foot retail asset situated on 1.1 acres near Callaghan Road and Loop 410 in San Antonio. Built in 1960, the center was 91 percent leased at the time of sale to tenants such as Zito’s Deli and Sandwich Shoppe, Lux Nails and Danny’s Cocina. Bradley Suttle of SACA represented the seller, a local family trust, in the transaction and procured the buyer, a Texas-based limited liability company.
HOUSTON — Marcus & Millichap has brokered the sale of A Discount Mini Storage, a 338-unit self-storage facility located at 3735 Mangum Road in Houston. Dave Knobler, Justin Miller, Derek Hargrove and Davis Hansen of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a Houston-based limited liability company.
FORT WORTH, TEXAS — JLL has arranged the sale of 3700 Hulen St., a 45,118-square-foot, five-building office property situated on 2.6 acres near the intersection of Interstate 30 and Chisholm Trail Parkway in Fort Worth. Pat McDowell and Matt Montague of JLL represented the seller, Chemical Management Co. Inc. 3700 Hulen LLC purchased the property for an undisclosed price.
