HOUSTON — Marcus & Millichap has brokered the portfolio sale of five self-storage facilities totaling 1,042 units in the greater Houston area. Two facilities are located in the northwestern suburb of Waller, and the other three facilities are scattered across the suburbs of Brookshire, Pattison and Hockley. The portfolio totals 148,745 net rentable square feet of climate- and non-climate-controlled space and includes both boat and RV storage spaces and more than 12 acres for future expansion. Dave Knobler, Mixson Staffel and Charles LeClaire of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
HOUSTON — The Dinerstein Cos., a locally based owner-operator, has sold 3411 Richmond, an 82,692-square-foot office building in Houston’s Greenway Plaza district. The seven-story office building was constructed in 1968 (renovated in1996) and was 89 percent leased at the time of sale. Marty Hogan of JLL and David Anderson of Cresa co-represented The Dinerstein Cos. in the transaction. Evelyn Ward and Paula Musa of Transwestern represented the buyer, HRGI Development LLC.
SEATTLE — Rise Properties Trust has completed the disposition of Northline, a multifamily asset in Seattle’s Bitter Lake neighborhood. FPA Multifamily acquired the property for $17.7 million, or $159,910 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Northline features 111 one- and two-bedroom apartments with open-concept layouts, updated kitchens, stainless steel appliances, wood-style flooring, wood-burning fireplaces and in-home laundry. Select units offer vaulted ceilings, sunken living rooms and private patios. Onsite amenities include a resident lounge, dog park and a covered outdoor gathering area with a barbecue, fireplace and seating.
OKLAHOMA CITY — SRS Real Estate Partners has arranged the $6.4 million sale of a portfolio of nine industrial outdoor storage (IOS) facilities in Oklahoma City. The portfolio consists of 43,000 square feet of buildings across 40.7 acres and was leased to nine tenants at the time of sale. Dave Faris of SRS represented the seller, a local family office, in the transaction. The buyer was an undisclosed, Kansas-based developer.
GLENDALE, WIS. — Hanley Investment Group Real Estate Advisors has arranged the sale of Cornerstone Shopping Center, a 13,308-square-foot retail center located in the North Shore trade area across from Bayshore, a mixed-use destination. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investor from North San Diego County. The buyer was SW Neighborhood Centers IV, an affiliate of Alabama-based commercial real estate firm Shannon Waltchack. The two-building property in Glendale was fully occupied at the time of sale. Built in 2003, the center is home to four tenants: Wild Fork Foods, Pearle Vision, Panera Bread and Vivo Infusion.
FORT LAUDERDALE, FLA. — Grover Corlew has purchased 200 East Broward, a 21-story, 235,211-square-foot office building in downtown Fort Lauderdale, for $69.7 million. The Boca Raton, Fla.-based firm plans to invest $20 million in capital improvements at the office building over the next two years, including overhauling the elevator bay and main lobby and building an amenity deck with a gym and conference facilities. Hermen Rodriguez and Ike Ojala of JLL represented the undisclosed seller in the transaction. Paul Stasaitis, also with JLL, arranged an undisclosed amount of acquisition financing through BridgeInvest.
LEXINGTON, KY. — Article Student Living has acquired Signature Apartments, a 280-bed student housing community located near the University of Kentucky campus in Lexington. The property was delivered in 2024 and offers units in one-, two- and four-bedroom configurations. Shared amenities include a resort-style pool, 24-hour fitness center, coffee bar, outdoor terrace and kitchen, clubhouse and group study rooms. The seller and terms of the transaction were not released.
HOUSTON — JLL has negotiated the sale of Park 845 Crossing, a 757,325-square-foot industrial park in North Houston. Built in phases between 2008 and 2014, Park 845 Crossing comprises five buildings on a 38.9-acre site at the interchange of I-45 and Beltway 8. Buildings offer a mix of rear-load and cross-dock configurations, range in size from approximately 54,000 to 245,000 square feet and feature 18- to 30-foot clear heights. Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Max Myers of JLL represented the seller, an affiliate of Equus Capital Partners, in the transaction. The buyer was New York City-based REIT INDUS Realty Trust.
AUSTIN, TEXAS — Newmark has brokered the sale of Oak Hill Plaza, a 115,512-square-foot shopping center in West Austin. The center sits on an 11.3-acre site at 7101 State Highway 71 and was 92.5 percent leased at the time of sale. Tenants include The Picklr, Dollar Tree, AutoZone, Jim’s Restaurant, Wells Fargo, Pluckers Wing Bar and Golden Chick. Conor Lalor, Kyle Minter, James Sharpe V and Cole Frantz of Newmark represented the seller, Partners Real Estate, which acquired the property in 2021, in the transaction. Fort Worth-based owner-operator Trademark Property Co. acquired Oak Hill Plaza in a joint venture with global investment firm Cohen & Steers.
FORT LEE, N.J. — JLL has negotiated the sale of Ridge Pointe, a 132-unit apartment building in the Northern New Jersey community of Fort Lee. Built as an office building in 1985 and converted to residential use in 2014, Ridge Pointe offers studio, one-, two- and three-bedroom units with an average size of 1,296 square feet. Amenities include a rooftop lounge, screening room, fitness center, billiards room and a children’s playroom. Mike Oliver, Steve Simonelli, Jose Cruz, Elizabeth DeVesty, Austin Pierce and C.J. Anania of JLL represented the undisclosed seller in the transaction. Thomas Didio Jr., Gerard Quinn, Michael Mataras and Tyler Caricato, also with JLL, arranged acquisition financing for the deal through Balbec Capital on behalf of the buyer, SELA Realty Investments.
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