TUCSON, ARIZ. — Golden Parachute Properties has acquired 11,200 square feet of medical office space at 6452 E. Carondelet Drive in Tucson. AM Properties LLC sold the asset for $3.2 million. Richard Kleiner and Alexis Corona of Cushman & Wakefield | PICOR represented the seller, while Matt Bollinger and John Allen Smith with Smith & Bollinger-Long Realty Co. represented the buyer in the transaction.
SHORT HILLS, N.J. — Columbia Pacific Advisors has taken ownership of two office buildings totaling 320,196 square feet in the Northern New Jersey community of Short Hills. The six-story building at 101 JFK Parkway spans 197,196 square feet and is home to tenants such as Franklin Mutual, Citizens Bank, Citibank, global law firm Dentons and Virtu Financial. The four-story building at 103 JFK Parkway totals 123,000 square feet and is currently vacant. Columbia, which was previously the lender on the buildings, has hired JLL to market the assets for lease.
NEW YORK CITY — Marcus & Millichap has brokered the $7.1 million sale of a 12,320-square-foot office and retail building located at 36-41 Bell Blvd. in the Bayside area of Queens. The two-story building comprises 12 spaces, with retail space on the ground floor and office space on the second floor. Anthony Cerrone and Michael Tuccillo of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
ORADELL, N.J. — Locally based brokerage firm SAGE Investment Real Estate Advisors has arranged the sale of a 24-unit apartment building in the Northern New Jersey community of Oradell. The property was built in the 1960s and offers one- and two-bedroom units. Greg Pine and Steve Tragash of SAGE represented the seller, an entity doing business as Oradell Associates LLC, in the transaction. The duo also procured the buyer, an undisclosed private investor.
CINCINNATI AND BOISE, IDAHO — Cincinnati-based The Kroger Co. and Boise, Idaho-based Albertsons Cos. Inc. have announced plans to sell an additional 166 grocery stores to C&S Wholesale Grocers in a divestiture package. This marks an amendment to an existing agreement with the buyer, which will now acquire a total of 579 stores in a $2.9 billion deal. The original divestiture package was announced in September of last year, in connection with a proposed merger between Kroger and Albertsons. In February, the Federal Trade Commission (FTC) sued to block Kroger’s $24.6 billion acquisition of Albertsons (which was originally announced October 2022), citing anticompetition concerns. The FTC alleged in a press release that a merger between the companies would create a “monopoly” as well as “lead to lower quality products and services” and threaten “the ability of employees to secure higher wages, better benefits and improved working conditions.” The deal would mark the largest supermarket merger in U.S. history, with Kroger and Albertsons operating thousands of stores nationally. Colorado and Washington also filed measures at the state level to block the merger. The companies hope to assuage the concerns of federal and state antitrust regulators with the enhanced divestiture package. According to …
CHARLOTTE, N.C. AND CHARLESTON, S.C. — Berkadia has arranged the sale of a multifamily portfolio comprising 2,164 units in South Carolina. The portfolio includes eight communities — Ivystone at Palmetto Pointe in Myrtle Beach; Mallard Pointe and Deerfield Apartments in Rock Hill; Deerfield Run, Waterford Apartments and Ivy Ridge in Easley; and Heritage Trace and Heatherstone Apartments in Piedmont. Caleb Troop of Berkadia’s Charlotte office, along with Mark Boyce of the firm’s Charleston office, represented the private buyer in the transaction. The seller and sales price were not disclosed. Brookside Properties has taken over property management at the communities on behalf of the buyer, which plans to renovate all units over the next three years and upgrade amenities.
MCCALLA, ALA. — Graham & Co. has negotiated the $13 million sale of a 111,983-square-foot distribution and manufacturing facility located in McCalla, about 20 miles southwest of Birmingham. The building, which is fully leased to auto supplier MOBIS, features 30-foot ceiling heights, 21 dock-high doors, ESFR sprinklers and a 130-foot truck court. Sonny Culp of Graham & Co., along with Doug Longyear of Cushman & Wakefield, brokered the transaction. PMUDO Alabama LLC purchased the facility from the developer, an entity doing business as AMR REIT Prestige Industrial II LLC. Built in 2022, the property is situated on 11 acres within Jefferson Metropolitan Industrial Park off I-20.
COLLIERVILLE, TENN. — JLL Capital Markets has brokered the $12 million sale of Collierville Crossing, a 94,331-square-foot shopping center located in Collierville, roughly 30 miles outside of Memphis. Academy Sports + Outdoors anchors the property, which was built in 2004. Other tenants at the center include La Hacienda, Sakura Japanese Restaurant, America’s Best Contacts and Eyeglasses, Sports Clips and Direct General Insurance. Desco Group and Affinius Capital sold the property to an entity doing business as RCG-Collierville VII LLC. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the sellers in the transaction.
BOYNTON BEACH, FLA. — Venture One Real Estate has acquired an industrial portfolio in South Florida through its acquisition fund, VK Industrial VI LP, which is cosponsored by Kovitz Investment Group. The portfolio comprises 197,600 square feet across three buildings located at 1200, 1210 and 1220 S.W. 35th Ave. in Boynton Beach. The properties were constructed between 2000 and 2019 and feature 30- to 35-foot clear heights, ESFR sprinkler systems and dock-high and drive-in loading positions. Tenant spaces within the buildings range from 9,000 to 44,000 square feet. Mike Davis, Dominic Montazemi and Greg Miller of Cushman & Wakefield represented the undisclosed seller in the transaction. The sales price was not disclosed. Christopher Thomson, Matthew McAllister and Eric Cantor of Cushman & Wakefield will market the property for lease on behalf of the buyer.
OXNARD, CALIF. — PSRS has arranged $54 million in financing for the acquisition of Esplanade Shopping Center, a grocery-anchored shopping center in Oxnard, approximately 70 miles west of Los Angeles. Kostas Kavayiotidis, Mike Davis and Matthew Farzinpour of PSRS provided the undisclosed borrower with a seven-year loan, including four years of interest-only payments. A life insurance company provided the financing. Walmart, The Home Depot, TJ Maxx, Nordstrom Rack, Bob’s Discount Furniture, Dick’s Sporting Goods, In-N-Out Burger, Chipotle Mexican Grill and BJ’s Restaurant are tenants at the 357,000-square-foot open-air shopping center.