APEX, N.C. — JLL Income Property Trust has acquired West Raleigh Distribution Center, a five-building, 985,000-square-foot industrial park located in the Raleigh suburb of Apex. The seller was not disclosed. Situated near I-540, West Raleigh Distribution Center was 87 percent leased at the time of sale to a mix of eight tenants, the largest of whom is a major distributor to the biotech and healthcare sectors. The buildings were constructed in 2024 and 2025.
FAIRHOPE, ALA. — Birmingham, Ala.-based Oakley Group has acquired Flats at East Bay in Fairhope for $49.8 million. Stoa Group was the seller. Craig Hey of Cushman & Wakefield arranged the sale. Oakley has appointed Arlington Properties to manage the 240-unit community, which is located at 9376 Twin Beech Road on the eastern shoreline of Mobile Bay, about 26 miles south of Mobile. Flats at East Bay was completed in 2024 and features 10 three-story buildings with one-, two- and three-bedroom units and amenities such as a resort-style pool with cabanas, a fitness center, dog park, walking trails, grills, coworking space with conference rooms, fire pit and electric vehicle charging stations.
HANOVER, MASS. — Houston-based owner-operator The Hanover Co. has sold a 297-unit apartment complex in Hanover, located southeast of Boston. Hanover Crossing Residences was built in 2023 and comprises four four-story buildings that house one-, two- and three-bedroom units with an average size of 934 square feet. Amenities include a pool, entertainment kitchen and social lounge, fitness center, coworking space and outdoor grilling and dining areas. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller in the transaction. The buyer was an affiliate of AEW Capital Management. The sales price was not disclosed.
WALTHAM, MASS. — Marcus & Millichap has brokered the $3.4 million sale of a nine-unit apartment building located in the western Boston suburb of Waltham. The building at 9-19 Brown St. houses a mix of one- and two-bedroom apartments and three-bedroom townhouses, as well as six rentable garages. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
BERWICK, MAINE — Colliers has negotiated the sale of a 24,280-square-foot industrial complex in Berwick, located on the Maine-New Hampshire border. The sales price was $1.9 million. The property consists of two buildings on an 8.4-acre site that were 76 percent leased to four tenants at the time of sale. Andrew Ward and Tim Braseth of Colliers represented the seller, Mick Construction Corp., in the transaction.
LAS VEGAS — MG Properties has acquired The Pearl at St. Rose, a multifamily community in Las Vegas’ Silverado Rancho master-planned community, from an affiliate of The CONAM Group for $64 million. Charles Steele, John Cunningham and Jared Glover of Berkadia represented the seller. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing through Freddie Mac. Situated along the St. Rose Corridor in South Las Vegas, The Pearl at St. Rose offers 270 apartments with spacious floor plans and modern interior finishes. Community amenities include a pool and spa, fitness center, dog park and resident clubhouse. The property was built in 2000.
AMERICAN FORK, UTAH — Gelt Venture Partners has acquired Alvera at the Meadows, an apartment property in American Fork, from a joint venture between Woodbury Corp., Garbett Homes and Cirrus Group for an undisclosed price. Brock Zylstra and Danny Shin of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA Capital Markets arranged acquisition financing for the buyer. Completed in 2021, Alvera at the Meadows features 142 apartments, a resort-style swimming pool with lazy river, a 24-hour workout facility, sauna, steam room and game room. Apartments offer keyless entry, vaulted or nine-foot ceilings, washers/dryers and private balconies or patios.
FAIRFIELD, CALIF. — A partnership between Faris Lee Investments and John Cumbelich & Associates has negotiated the sale of a 24,604-square-foot, two-building retail center located at 1370-1380 Holiday Lane in Fairfield. Built in 2005 on 2.3 acres, the center is roughly 42 percent occupied. Tenants include Aspen Dental, Peet’s Coffee & Tea, Togo’s Sandwich Shop and Golden 1 Credit Union. Additionally, the center features an anchor space totaling 14,375 square feet, which is currently unleased. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee, along with John Cumbelich and Joe Kuvetakis of John Cumbelich & Associates, represented the undisclosed seller in the transaction.
FULLERTON, CALIF. — Shopoff Realty Investments has sold the last remaining retail parcel at Sunrise Village, a 14-acre neighborhood shopping center located in the Orange County city of Fullerton, for $2.5 million. The recently sold property totals nearly half an acre and houses a veterinary clinic. The unused space at the parcel will be transformed into a fast-casual Korean restaurant. The remaining retail parcels at the property were previously sold to separate owners. The first parcel sale included a 1.4-acre corner retail space, which featured a drive-thru Del Taco and three adjacent retail pads. The other two retail parcels totaled roughly 1 acre apiece. Lennar Homes purchased The Pines at Fullerton, the 9.9-acre residential portion of Sunrise Village, in October 2023, with plans to build 113 homes. Construction is already underway on the site, with the first set of homes scheduled for delivery in 2026. Shopoff originally acquired the shopping center in 2021 for $26.5 million and secured approvals to redevelop the property into a mixed-use center with service-based tenants and housing options.
EVANSTON, ILL. — Continuum Development has acquired Church Street Plaza, a 144,833-square-foot retail complex in Evanston, for $31.2 million. Located at 900-950 N. Church St., the property spans a full city block with immediate access to CTA and Metra rail lines and is situated approximately a half mile from Northwestern University. Built in 2000 and redeveloped in 2023, the asset is 98 percent leased with tenants including a 12-screen AMC movie theater, Sky Zone indoor entertainment park and other stores and restaurants. Earlier this year, Continuum proposed the addition of a 27-story, 358-unit multifamily tower on the northwest corner of Church Street Plaza.