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Fla. asset sells for $72M; Phoenix Investors buys Wis. warehouse for $31M

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Fla. asset sells for $72M; Phoenix Investors buys Wis. warehouse for $31M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* An affiliate of Bainbridge Cos. sold the 250-unit Bainbridge Coral Springs multifamily complex at 10820 and 10890 W. Sample Rd. in Coral Springs, Fla., for $71.7 million to a Morris Cos. entity, The Real Deal reported, citing property records.

* Phoenix Investors purchased a more than 2 million-square-foot warehouse in Wauwatosa, Wis., that was built and operated by J.C. Penney, for about $31.3 million, with plans to renovate the property, the Milwaukee Business Journal reported.

* 947 Lincoln Road Investments Inc. sold a 7,500-square-foot lot at 1657 Michigan Ave./947 Lincoln Rd. in South Beach, Fla., to an affiliate of real estate firm Crown Acquisitions Inc. for roughly $25.7 million, the South Florida Business Journal reported. The property has an existing 8,625-square-foot retail building, which could be expanded to 13,871 square feet and redeveloped.

* A wholly owned unit of industrial-focused Black Creek Industrial REIT IV Inc. agreed to buy the around 57,000-square-foot, 100%-occupied Pompano Industrial Center in South Florida from Arctic Partners LTD for an expected price of roughly $7.4 million, with the deal expected to close in the second quarter.

* Healthcare-focused NorthWest Healthcare Properties REIT closed on the sale of the 86%-occupied Clinique Bois-De-Boulogne medical office building in Montreal, Quebec, during the fourth quarter of 2017.

* Farmland and farm-related property-focused Gladstone Land Corp. paid $2.1 million to purchase a 176-acre blueberry farm in Van Buren County, Mich., and entered into a 10-year, triple-net lease with True Blue Farms for the property.

Additional coverage

Simon Property JV seeks $2B for Fla. mall refinancing

Xenia Hotels wraps up $200M sale of Honolulu asset

AJ Property Management seeks up to $125M from NYC office building sale

Midtown development site up for grabs in New York