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Acquisitions

AcquisitionsIndustrialOfficeSouth CarolinaSoutheast

CBRE Arranges $13.8M Sale of Flex Property in Columbia, South Carolina

by John Nelson

COLUMBIA, S.C. — CBRE has arranged the $13.8 million sale of 20/21 Business Center, a 98,386-square-foot flex property located in Columbia. Red Bank, N.J.-based Denholtz was the buyer. Matt Smith, Patrick Gildea, Robert Hardaway, Aaron Dupree and Marie Diekmann of CBRE represented the seller, CB Equities, in the transaction. Situated on 17.6 acres, the property — which was 98 percent leased at the time of sale — comprises three buildings and three vacant land parcels. Additional features of the center include interstate visibility and expansion opportunities, as well as 17 dock doors and 10 drive-in doors. CBRE originally arranged CB Equities’ acquisition of the property in May 2022 for $10.5 million.

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AcquisitionsMultifamilyNew JerseyNortheast

Hudson Atlantic Negotiates $4.2M Sale of Apartment Building in Englishtown, New Jersey

by Taylor Williams

ENGLISHTOWN, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $4.2 million sale of an 18-unit apartment building in Englishtown, an eastern suburb of Trenton. According to LoopNet Inc., Englishtown Village Gardens was originally built in 1945 and was fully occupied at the time of sale. Dante Fusaro of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsNew MexicoRetailWestern

Faris Lee Investments Brokers $24.8M Sale of Pavilions San Mateo Retail Center in Albuquerque

by Amy Works

ALBUQUERQUE, N.M. — Faris Lee Investments has brokered the sale of Pavilions San Mateo, a retail center in Albuquerque. The asset traded for $24.8 million. Current tenants include Walmart Neighborhood Market, Old Navy, Dollar Tree and Orange Theory Fitness. Don MacLellan, Jeff Conover and Scott DeYoung of Faris Lee represented the undisclosed buyer. The name of the seller was not released.

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AcquisitionsArizonaHealthcareWestern

UHS of Tucson Acquires 76,770 SF Behavioral Health Hospital in Arizona for $19.1M

by Amy Works

TUCSON, ARIZ. — UHS of Tucson LLC has purchased Palo Verde Behavioral Health, a behavioral health hospital and medical office building in Tucson. TMC sold the asset for $19.1 million. Located at 2695 N. Craycroft Road, the property offers 76,770 square feet of space. Richard Kleiner of Cushman & Wakefield | PICOR represented the seller in the deal.

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1075-Corona-St-Denver-CO
AcquisitionsColoradoMultifamilyWestern

NorthPeak Commercial Arranges $10.8M Sale of Multifamily Property in Denver

by Amy Works

DENVER — NorthPeak Commercial Advisors has directed the sale of The Patrician, an apartment property at 1075 Corona St. in Denver. The asset traded for $10.8 million. Built in 1955, The Patrician offers 36 over-sized apartments, a 23-car underground garage and a landscaped courtyard. Greg Johnson and Conner Piretti of NorthPeak Commercial handled the transaction on behalf of the undisclosed buyer and seller.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $5.8M Sale of Retail Center in Suburban Chicago

by Kristin Harlow

TINLEY PARK, ILL. — Marcus & Millichap has brokered the $5.8 million sale of an 11-suite retail center in the Chicago suburb of Tinley Park. The property is situated on 3.5 acres at 7301 183rd St. Key tenants include Buffalo Wild Wings, which recently signed a seven-year lease extension and invested $600,000 in renovations, and Pop’s Italian Beef, which has operated at the location for 16 years. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a family partnership, and procured the buyer, a California-based private investor. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $4.1 million through a Midwest regional credit union on behalf of the buyer.

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AcquisitionsMidwestMultifamilyWisconsin

Kiser Group Negotiates $1.7M Sale of Multifamily Property in Milwaukee

by Kristin Harlow

MILWAUKEE — Kiser Group has negotiated the $1.7 million sale of a multifamily property located at 2820 W. Kilbourn Ave. in a historic neighborhood of Milwaukee. The asset was 94 percent occupied at the time of sale. Luis Robles of Kiser brokered the transaction. The buyer owns multiple buildings in the area.

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AcquisitionsRetailTexas

Trademark Sells 157,791 SF Waterside Shopping Center in Southwest Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. has sold Waterside, a 157,791-square-foot shopping center in southwest Fort Worth. Trademark debuted Waterside, the site of which originally served as a recreational facility for General Dynamics (later known as the Lockheed Martin Recreation Association), in 2016. Whole Foods Market anchors the center, which was 98 percent leased at the time of sale. Other tenants include REI, Tricky Fish and First Watch. Chris Gerard, Barry Brown, Erin Lazarus and Andrew Griffin of JLL represented Trademark, which sold the property in partnership with Swift Creek Real Estate Partners LLC, in the transaction. The buyer was The Georgetown Co. LLC.

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AcquisitionsCaliforniaMultifamilyWestern

American Assets Trust Acquires 192-Unit Multifamily Property in San Diego

by Amy Works

SAN DIEGO — American Assets Trust has purchased Genesee Park, an apartment community located at 3625 Earnscliff Place in San Diego, from Hess Genesee Park LLC for an undisclosed price. Rachel Parsons, Derreck Ostrzyzek, Mike Murphy, Chris Tresp and Kenji Thomas of CBRE represented the seller in the transaction. Built in 1985, Genesee Park consists of six buildings, each configured with three stories of residential space over one level of gated on-grade garage parking. The community features 192 one-, two- and three-bedroom floor plans, each averaging 1,051 square feet. Units offer an outdoor balcony, oversized windows and ample storage closets. Genesee Park also features a deck area with a pool, spa, lounge seating and outdoor dining tables.

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Rose-Garden-Biz-Park-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

BKM Capital Partners Sells 159,304 SF Rose Garden Business Park in Phoenix

by Amy Works

PHOENIX — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Rose Garden Business Park, a small-bay industrial park on 10.2 acres in Phoenix. An undisclosed affiliate of BKM Capital Partners acquired the asset for $35.1 million. Located at 1801-1831 W. Rose Garden Lane and 20801-20823 N. 19th Ave., the property consists of nine buildings offering a total of 159,304 square feet of industrial space. Originally built in 1987, Rose Garden Business Park features 18-foot clear heights, 43 grade-level doors and 16 dock doors. At the time of sale, the property was fully leased. Bob Buckley and Tracy Cartledge of Cushman & Wakefield, in collaboration with Will Strong, Michael Matchett, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, represented the seller in the deal.

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