Acquisitions

JLL Negotiates $50M Sale of Mixed-Use Property in Nashville’s Music Row District

by John Nelson April 18, 2025

NASHVILLE, TENN. — JLL Capital Markets has facilitated the $50 million sale of Edgehill Village, a 58,468-square-foot mixed-use property located in Nashville’s Music Row district. Originally built in 1920 and 1934 and renovated in 2016, the property comprises 2.4 acres of retail and office space. Tenants at the property include Van Leeuwen Ice Cream, Barcelona, Consider the Wldflwrs, Warby Parker and Vow’d. Brad Buchanan and Jim Hamilton of JLL’s Investment Sales and Advisory team represented the seller, Charlotte-based Asana Partners, in the transaction. The buyer was not disclosed.

April 18, 2025

Acquisitions Maryland Office Southeast

Newmark Facilitates Sale of 132,207 SF Office Property in Suburban Baltimore

by John Nelson April 18, 2025

HUNT VALLEY, MD. — Newmark has facilitated the sale of 40 Wight Avenue, a 132,207-square-foot office property located in Hunt Valley, roughly 18 miles north of Baltimore. Built in 2017, the five-story office tower is situated near Hunt Valley Towne Center and a light rail station. Amenities at the property include an outdoor patio area, ample natural lighting and dining and retail offerings. The office complex was 90 percent leased at the time of sale. Nicholas Signor, Cristopher Abramson and Ben McCarty of Newmark represented the seller, an undisclosed national REIT, in the transaction. The buyer was an affiliate of Minnesota-based Onward Investors. The sales price was not disclosed.

April 18, 2025

Acquisitions Loans Multifamily Southeast Virginia

Greysteel Brokers Sale of 173-Unit Sherwood Forest Apartments in Norfolk, Virginia

by John Nelson April 18, 2025

NORFOLK, VA. — Greysteel has brokered the sale of Sherwood Forest, a 173-unit apartment community located at 2803 Early St. in Norfolk. Otto Snell of Greysteel represented the seller in the transaction. The buyer, seller and sales price were not disclosed. Jack Whitman of Greysteel arranged a $16 million acquisition loan through an undisclosed credit union that was underwritten with a fixed interest rate, 80 percent loan-to-value ratio, two years of interest-only payments and no prepayment penalty. The loan includes funds for property improvements at Sherwood Forest, which was originally delivered in 1965.

April 18, 2025

Acquisitions Retail Southeast Virginia

SRS Arranges $6.8M Sale-Leaseback of Retail Property in Manassas, Virginia Leased to The Learning Experience

by John Nelson April 18, 2025

MANASSAS, VA. — SRS Real Estate Partners has arranged the sale-leaseback of a single-tenant retail property located in Manassas, roughly 35 miles southwest of Washington, D.C., for $6.8 million. The Learning Experience, an early childhood education and childcare center, occupies the two-story, 11,150-square-foot property on a triple net lease basis. Originally built in 2023, the facility is operated by one of The Learning Experience’s largest franchisees. Situated at 10219 Dumfries Road, the property sits at the center of a retail corridor that includes a Walmart Supercenter, Harris Teeter, LA Fitness, Chick-fil-A, Raising Cane’s and Wawa convenience store. Andrew Fallon and Philip Wellde Jr. of SRS’ Washington, D.C. Capital Markets team represented the seller, an entity doing business as Ganges Manassas LLC, in the transaction. The 1031 exchange buyer was a Northern Virginia-based private investor. SRS has also listed a second site occupied by The Learning Experience in Northern Virginia for $7.6 million.

April 18, 2025

Acquisitions Development Restaurant Retail Texas

Younger Partners Arranges Sale of 42-Acre Retail Development Site in Lucas, Texas

by Taylor Williams April 18, 2025

LUCAS, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a 42-acre retail development site in Lucas, roughly 30 miles northeast of Dallas. The buyer, an affiliate of Dallas-based Malouf Interests, plans to develop a 130,000-square-foot grocery-anchored shopping center, a 25,000-square-foot restaurant village with 15 adjacent pad sites and a community park on the site. Michael Ytem and Tom Grunnah of Younger Partners represented both the buyer and the seller, JCBR Holdings, in the transaction. Construction is slated to begin in the fourth quarter, with completion anticipated for 2026.

April 18, 2025

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of Self-Storage Facility in Carrollton, Texas

by Taylor Williams April 18, 2025

CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of a self-storage facility in the northern Dallas metro of Carrollton. Extra Space Storage operates the facility, which was built in 1996 and expanded in 2001. The facility totals 114,236 net rentable square feet of space across 143 climate-controlled units, 448 drive-up units, six office suites and 101 uncovered parking spaces. Brandon Karr of Marcus & Millichap represented the buyer and seller, both of which were locally based entities that requested anonymity, in the transaction.

April 18, 2025

Acquisitions California Industrial Office Western

Pacific Coast Commercial Arranges $3.6M Sale of Office, Industrial Building in San Diego

by Amy Works April 18, 2025

SAN DIEGO — Pacific Coast Commercial has arranged the sale of an 11,700-square-foot office and industrial building located at 3341 Hancock St. in San Diego. The transaction also included two adjacent vacant parcels. Simon & Associates LLC sold the asset to SOMO Properties LLC for $3.6 million. Tommas Golia, Jason Vieira and Colton Speas of Pacific Coast Commercial represented the seller, while Trent Smith of Cushman & Wakefield represented the buyer in the transaction.

April 18, 2025

Acquisitions Illinois Loans Midwest Multifamily

Greystone Provides $120M Acquisition Loan for Chicago Apartment Tower

by Kristin Harlow April 18, 2025

CHICAGO — Greystone has provided a $120 million Fannie Mae loan for the acquisition of Fulbrix Apartments in Chicago’s Fulton Market. The 27-story apartment tower features 375 units at 160 N. Elizabeth St. Eric Rosenstock and Jesse Yodice of Greystone originated the financing on behalf of the borrower, Normandy Real Estate. The loan features a 10-year term with seven years of interest-only payments. The $170 million purchase marked Chicago’s largest multifamily sales transaction since 2023, according to Greystone.

April 18, 2025

Acquisitions Midwest Multifamily Wisconsin

Kiser Group Brokers $5.2M Sale of 120-Unit Multifamily Portfolio in Milwaukee

by Kristin Harlow April 18, 2025

MILWAUKEE — Kiser Group has brokered the sale of a 120-unit multifamily portfolio in Milwaukee’s Near West Side for $5.2 million. The four-property portfolio, which was 93 percent leased at the time of sale, included 2848 W. Wells St., 2929 W. Wisconsin Ave., 2635 W. Juneau Ave. and 2625 W. Juneau Ave. Luis Robles of Kiser brokered the transaction. The buyer owns a significant number of nearby assets. The deal represents the highest-volume multifamily sale in the Near West Side in 2025, according to Kiser.

April 18, 2025

Acquisitions Industrial New Jersey Northeast Office

CBRE Brokers $12.7M Sale of Industrial, Office Complex in Rockaway, New Jersey

by Taylor Williams April 18, 2025

ROCKAWAY, N.J. — CBRE has brokered the $12.7 million sale of Pine Street Commons, an industrial and office complex located in the Northern New Jersey community of Rockaway. The property consists of six buildings on a 17-acre site. According to LoopNet Inc., the property was built in 1955 and totals 63,050 square feet. Charles Berger and Jeffrey Babikian of CBRE represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Pine Street Commons was approximately 95 percent leased at the time of sale.

April 18, 2025

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