MOONACHIE, N.J. — Metro Philadelphia-based investment firm Seagis Property Group has purchased two industrial buildings totaling 19,296 square feet in the Northern New Jersey community of Moonachie. The two standalone buildings span 9,660 and 9,636 square feet and were both vacant at the time of sale. Seagis, which plans to implement a value-add program, purchased the properties from a private ownership group that occupied the buildings for its business, Corporate Jet Support. Chris Koeck of Newmark represented both parties in the transaction.
MCDONOUGH AND JONESBORO, GA. — A partnership between Birmingham, Ala.-based Growth Capital Partners (GCP) and AEW Capital Management LP has purchased a 2.9 million-square-foot industrial portfolio in Atlanta’s I-75 South industrial submarket. The seller and sales price were not disclosed. The portfolio comprises three Class A facilities in McDonough and Jonesboro that house four tenants, including Whirlpool Corp. and Caterpillar. The assets include 195 King Mill Road in McDonough, 150 Greenwood in McDonough and 9250 S. Main St. in Jonesboro. GCP’s existing portfolio spans 6.7 million square feet in Sun Belt markets such as Atlanta, Nashville, Houston, San Antonio, Charlotte and Jacksonville.
MEMPHIS, TENN. — Blue Vista Capital Management and Westmount Realty Capital have acquired Shelby Oaks Industrial Park, a 480,911-square-foot portfolio of light industrial and flex properties located in the Northeast submarket of Memphis. Situated near the interchange of I-240 and I-40, the 50-acre park spans 16 buildings and was more than 95 percent leased at the time of sale to 78 tenants across the technology, telecommunications, manufacturing, service and food-and-beverage industries. Shelby Oaks’ buildings feature distribution, warehouse, office and showroom space with a total of 76 dock-high doors and 90 grade-level doors, as well as clear heights ranging from 14 to 22 feet. The seller and sales price were not disclosed.
ALTAMONTE SPRINGS, FLA. — Atlanta-based Coro Realty Advisors has sold Wekiva Square, a 175,175-square-foot shopping center located at 945 Semoran Blvd. in Altamonte Springs, a suburb of Orlando. V3 Capital Group purchased the property for $23.5 million. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented Coro Realty in the transaction. Built in 1981 and most recently renovated this year, Wekiva Square was 99.1 percent leased at the time of sale to tenants including HomeGoods, Dollar Tree, Fancy Fruit and San Jose Mexican Restaurant. The center also includes a Kohl’s store that has a separately parceled ground lease.
NORTH CHARLESTON, S.C. — ECI Group has acquired The Factory at Garco Park, a 271-unit apartment community located at 4993 O’Hear Ave. in North Charleston’s Park Circle neighborhood. SouthState Bank provided an undisclosed amount of acquisition financing. Alex Okulski of Newmark represented the unnamed seller in the transaction. Atlanta-based ECI Group purchased the Factory at Garco Park for an undisclosed price in a 1031 exchange involving the recent sale of The Columns at Vinings in metro Atlanta. Built in 2017, Factory at Garco Park features studio, one-, two- and three-bedroom units, as well as a saltwater pool with cabanas, outdoor kitchen and grill area, outdoor pavilion, 24/7 fitness center, clubroom, conference room, dog park and pet spa, car washing station, Amazon Hub Lockers, boat storage, community bikes and a fire pit. The community represents ECI Group’s entry into the greater Charleston market.
DALLAS — JLL has negotiated the sale of a 1,252-unit self-storage facility located at 2500 Lone Star Drive in West Dallas. The three-story facility features 117,503 net rentable square feet of climate-controlled space and was 50 percent occupied at the time of sale. Austin-based CSW Development sold the property to Charlotte-based Madison Capital for an undisclosed price. Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL brokered the deal. The new ownership intends to rebrand the property as a Go Store It facility.
HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a portfolio of 28 Class B industrial buildings totaling 673,679 square feet in Houston. Known as The West Houston & Gemini Portfolio, the buildings are located throughout various infill submarkets and had a collective occupancy rate of 84 percent at the time of sale. The seller and sales price were not disclosed.
FRESNO, TEXAS — Primo Fitness, a California-based provider of exercise equipment, has purchased a 71,438-square-foot industrial building located at 701 Sycamore Drive in Fresno, a southern suburb of Houston. Jason Scholtz and Barkley Peschel of Colliers represented the seller, Lemark Investments, in the transaction. Haley Golden, Blair Golden and Lilly Golden of Evergreen Commercial Realty represented Primo Fitness.
WINSTON-SALEM, N.C. — Champion Real Estate Co. has purchased Villages at Wake Forest, a 75-unit portfolio comprising single-family homes and duplexes located across the street from Wake Forest University. Scott Clifton and Stewart Hayes of JLL represented Champion and the undisclosed seller in the $43 million transaction. Located at 961 Palm Drive in Winston-Salem, the 62-parcel portfolio, which will be rebranded as Victory at Wake Forest, is Champion’s first student housing community in North Carolina. The buyer plans to fully furnish all units and lease by the bed.
ORANGE AND EAST ORANGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the sale of two apartment complexes totaling 68 units in Northern New Jersey for a combined price of $8 million. The property at 57-61A E. Park St. in East Orange totals 22 units, and the complex at 453-475 Park Ave. in Orange comprises 46 units. Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.