SUNNYVALE, CALIF. — Lee & Associates has brokered the sale of a retail building located at 1109 E. Arques Ave. in Sunnyvale. The asset traded for $4.8 million. Neil Cowperthwaite and Winston Street of Lee & Associates Oakland represented the undisclosed seller in the deal. Union Bank occupies the 5,600-square-foot freestanding building on a long-term, triple-net lease.
MOORE, S.C. — PRP has purchased a new distribution center under construction in Moore totaling nearly 1.9 million square feet. Situated in South Carolina’s Upstate region, the modern distribution center will be fully leased to Hart Consumer Products, a subsidiary of Techtronic Industries Co. Ltd. that produces power tools and lawn and garden equipment. PRP will finish developing the build-to-suit project with joint venture partner Flint Development. The total capitalization of the development is $185 million and will be fully completed by the fourth quarter of 2023, according to PRP. The property will feature a cross-dock loading configuration, 40-foot clear heights, 338 dock doors, a 185-foot truck court and 835 spaces of excess trailer parking on 178 acres.
KISSIMMEE, FLA. — Lakeland, Fla.-based Publix Super Markets has purchased Osceola Village, a 121,445-square-foot shopping center located at 3040 Dyer Blvd. in Kissimmee, a suburb of Orlando. East Coast Acquisitions sold the Publix-anchored property for $36.1 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction and procured the buyer. Built in 2008 and renovated in 2022, Osceola Village was fully leased at the time of sale to tenants including Metro Diner, Insight Credit Union, Orlando Health, DaVita Dialysis and Goodwill, which recently entered a new 15-year lease.
MELBOURNE, FLA. — Franklin Street has negotiated the sale of Paradise Cay Apartments, a 197-unit multifamily property in Melbourne. Topaz Capital Group LLC purchased the community from Wells Boys & Girls Management for $34 million, or $172,588 per unit. Darron Kattan, Zachary Ames, Avery Jordan, Mark Savarese, Cary Brown and Cameron Wolfe of Franklin Street represented both parties in the 1031 transaction. Located on Florida’s Space Coast at 1900 Post Road, Paradise Cay features one-, two- and three-bedroom units ranging from 619 to 1,061 square feet. Community amenities include a swimming pool, basketball court and picnic areas and gated access.
TAKOMA PARK, MD. — Cushman & Wakefield has brokered the sale of Takoma Langley Crossroads, a 125,245-square-foot, grocery-anchored shopping center in Takoma Park, a city in suburban Maryland’s Montgomery County. Granite Canyon Partners purchased the grocery-anchored center for an undisclosed price. Cushman & Wakefield’s John Owendoff represented the unnamed seller in the transaction. The recently renovated shopping center was nearly fully leased at the time of sale to tenants including Aldi, Walgreens, Citibank, Taco Bell and 7-Eleven. Situated on nearly 10 acres at the intersection of University Boulevard and New Hampshire Avenue, Takoma Langley is located across the street from the Takoma Langley Transit Center, the largest non-Metrorail transfer point in the metro Washington, D.C., region and the future home of a Purple Line Metro stop.
EL PASO, TEXAS — A fund backed by New York-based investment firm Clarion Partners has acquired Rojas East Distribution Center, a 369,310-square-foot distribution center in El Paso. The two-building facility was built on 21.2 acres in 2021 and was fully leased at the time of sale. Building features include 28- to 32-foot clear heights, 56 dock doors, ESFR sprinkler systems and combined parking for 42 trailers and 292 cars. Dustin Volz led a JLL team that marketed the property on behalf of the seller and developer, Dallas-based Hunt Southwest.
HOUSTON — Locally based investment firm VIV Real Estate has acquired Envue Square, a 135-unit apartment complex in southeast Houston. The property offers one-, two- and three-bedroom units and amenities such as a pool, playground, clubhouse with a coffee bar, outdoor grilling and dining stations and onsite laundry facilities. VIV acquired the property in partnership with Texas Valley Group, and the new ownership plans to continue the value-add program put in place by the previous ownership. The seller and sales price were not disclosed.
MISSION, TEXAS — Northmarq has arranged the sale of Bella Rose, an 84-unit apartment complex located in the Rio Grande Valley city of Mission. Built in 2008, the property features units with renovated interiors and amenities such as a pool, fitness center and onsite maintenance and management. Zar Haro, Moses Siller, Phillip Grafe and Bryan VanCura of Northmarq represented the seller in the transaction. The buyer, an entity doing business as AZTEX RE Investments LLC, plans to combine Bella Rose with the neighboring 80-unit property that it purchased earlier this year.
WEST LAFAYETTE, IND. — Blue Vista Capital Management has acquired Wabash Landing Apartments in West Lafayette near Purdue University. The purchase price and seller were undisclosed. The property, which serves students, faculty and local professionals, features a mix of studio, one- and two-bedroom units. Amenities include a rooftop deck, fitness center, resident lounge, courtyard and study room. The property was fully leased as of July. Blue Vista’s affiliate student housing management company, PeakMade Real Estate, will manage the asset.
CLAY AND BALDWINSVILLE, N.Y. — Marcus & Millichap has negotiated the sale of the Store Your Stuff Portfolio, a duo of self-storage facilities totaling 748 units in Upstate New York. The facilities, which comprise 83,550 net rentable square feet across 80 climate-controlled units and 668 non-climate-controlled units, are specifically located in Clay and Baldwinsville, both of which are northern suburbs of Syracuse. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, an individual/personal trust, in the transaction. The trio also procured the buyer, a limited liability company. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.