MINNESOTA — Davis, a national healthcare real estate investment, development and management firm based in Minneapolis, has acquired a four-building outpatient medical portfolio from Lakeview Clinic for $31.3 million. The 114,346-square-foot portfolio includes properties in Waconia, Norwood, Chaska and Watertown. As part of the transaction, Lakeview extended its leases at each property. Founded in Waconia in 1957, Lakeview has grown to 62 providers across four locations offering a range of primary and specialty care services.
FORT COLLINS, COLO. — Ogilvie Partners has sold Prospect Innovation Campus, an industrial flex and research-and-development (R&D) campus in Fort Collins, to Denver-based ZS Capital Partners for $42 million. The 226,000-square-foot property comprises 11 buildings across four developments: Midpoint 3, River Center, Spring Creek and One Prospect. Constructed between late 1980s and early 2000, Prospect Innovation Campus offers a mix of small-bay industrial, flex and R&D space, as well as flexible suite configurations and a blend of office and warehouse components. The campus provides convenient access to I-25. Jeremy Ballenger, Tyler Carner, Patrick Devereaux, James Brady and Campbell Davis of CBRE represented the seller in the transaction.
EL SEGUNDO, CALIF. — Newmark has brokered the sale of a research-and-development (R&D) office facility in El Segundo, located just south of Los Angeles International Airport. Hackman Capital Partners sold the property, which is fully leased to electric vehicle manufacturer Rivian on a triple-net basis, to Majestic Realty for $27.2 million, or $480 per square foot. Situated on 2.1 acres at 401 Coral Circle, the 56,815-square-foot facility features 24-foot clear heights, six dock-high doors, 3,000 amps of power, a car wash and 110 parking stalls. Originally built in 1967 and renovated in 2020, the property serves as both a customer-facing service center and a highly secure R&D facility, supporting Rivian’s consumer and commercial vehicle lines. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Micheal Moll, Ryan Plummer, Andrew Briner and Aaron Banks of Newmark represented the seller in the deal. Blake Thompson and Travis Bailey, also with Newmark, provided support on the debt strategy and financing consideration throughout the transaction process.
SHEBOYGAN, WIS. — Northmarq has brokered the $31 million sale of Harbor Estates, a 186-unit multifamily property in Sheboygan, which is north of Milwaukee. Alex Malzone, Jake Lamb, Parker Stewart and Dominic Martinez of Northmarq represented the seller, a partnership between Harmoniq Residential and Midloch Investment Partners. Built in 2002, Harbor Estates offers a mix of one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center, putting green, underground parking and a pool.
MONAHANS, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of five self-storage facilities totaling 64,200 net rentable square feet across 529 units in Monahans, located just outside of Midland in West Texas. Known as the Double D Storage Portfolio, the facilities were originally developed on a combined 4.5 acres in 1993 and were 98 percent occupied at the time of sale. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
AUSTIN, TEXAS — An affiliate of Houston-based Hines has purchased 405 Colorado, a 206,000-square-foot office building in downtown Austin. The building was fully leased at the time of sale to tenants such as JPMorgan Chase, Bain & Co. and AllianceBernstein. Suites feature flexible configurations, and the building’s signature amenity is a 14th-floor sky lounge with conference rooms and a café. According to the Austin Business Journal, Brandywine Realty Trust sold the building for $151 million.
TULSA, OKLA. — Locally based investment firm TruCore Industrial has purchased a roughly 100,000-square-foot complex in northeast Tulsa. The property at 1872 N. 75th E. Ave. consists of four buildings that were fully leased at the time of sale to American Power Innovations, a manufacturer of power and energy equipment. The deal traded off-market. The seller and sales price were not disclosed.
DORAL, FLA. — Avison Young has arranged the $86 million sale of a 14-property small-bay industrial portfolio in Doral, a western suburb of Miami. The price equated to $296 per square foot. The portfolio, which is located along NW 54th Street, NW 56th Street, NW 79th Avenue and NW 82nd Avenue, spans 300,000 square feet. Martin Waas of Waas Realty LLC represented the sellers in the transaction. Waas Realty also handled the leasing and management of the warehouses since their development starting in 1973, according to South Florida Business Journal. Michael Fay and David Spillers of Avison Young, along with Industrial Advisors’ Tommy Gil and David Olade and Michael Waite of Miami Warehouse Real Estate, represented the buyer, Midtown Capital Partners.
NORFOLK, VA. — Newmark has negotiated the $26 million sale of 150 West Main Street, a 233,772-square-foot trophy office tower located in downtown Norfolk’s Waterside District. Kawa Capital Management was the buyer. Mark Williford, Will Bradley and Evan Wells of Newmark represented the seller, Gate Petroleum Co., in the transaction. Constructed in 2002, the 21-story tower’s onsite amenities include 24-hour security service, attached parking, a 2,000-square-foot multi-purpose meeting room, a full-service restaurant and a ground-level bank.
GERMANTOWN, TENN. — Marcus & Millichap has brokered the $24.5 million sale of Conrad Pearson Clinic, a 33,777-square-foot medical office building located in Germantown, roughly 21 miles southeast of Memphis. Spencer Koch and Chris Biuso of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the transaction. Built in 2002 at 1325 Wolf Park Drive, Conrad Pearson Clinic and its integrated affiliate, the Wolf River Surgery Center, fully occupied the property at the time of sale, according to LoopNet Inc. The property is situated near Methodist Le Bonheur Germantown Hospital, Saint Francis Medical Partners Germantown and Baptist Memorial Rehabilitation Hospital.
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