Acquisitions

BOCA RATON, FLA. — Cushman & Wakefield has negotiated the sale of Polo Club Shops, a 134,832-square-foot shopping center located in Boca Raton. The center is anchored by Publix, which completed a full demolition and reconstruction of its store in 2022, expanding the property by an additional 48,387 square feet. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Atlanta-based Jamestown Properties, in the transaction. The buyer, Publix Super Markets, purchased the shopping center for an undisclosed price. The Lakeland, Fla.-based grocer is operating with a new 20-year lease. Other tenants at Polo Club Shops include Beignets & Brews, Brendy’s Ice Cream, Ernie’s Açai Bowls, First Watch, Peak Beauty Studio, Manhattan Joe’s Pizzeria, Pet Supermarket and Phenix Salon Suites.

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CONYERS, GA. — Highline Real Estate Capital has acquired Salem Gate Market, a 177,527-square-foot shopping center located in Conyers, a southeast suburb of Atlanta in Rockdale County, for $25.4 million. Situated directly off I-20, the center’s tenant roster includes anchors Academy Sports + Outdoors and Floor & Décor. The Miami-based investor purchased Salem Gate Market from the undisclosed seller via its Highline Real Estate Fund 1, which launched in 2023 and has completed more than $350 million in acquisitions. Brad Buchanan and Jim Hamilton of JLL’s Atlanta office represented the seller in the transaction. Highline also recently sold an unanchored retail center in Conyers in a separate transaction totaling $9 million.

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IRVING, TEXAS — Fort Worth-based investment firm PHP Capital Partners has purchased Gateway Business Center, a 115,000-square-foot industrial park in Irving. The development consists of four buildings that house suites that range in size from 2,500 to 16,000 square feet. The seller and sales price were not disclosed. PHP Capital has tapped Property Advisers Realty Inc. as the leasing agent.

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Harborside-9-Jersey-City

JERSEY CITY — Locally based investment and development firm GN Management has acquired a multifamily development site in Jersey City with plans to construct a 57-story tower. The waterfront site is known as Harborside 9 and is approved for the development of 579 units, as well as 14,800 square feet of retail and a 555-space parking garage. Fifteen percent (87 residences) will be set aside as affordable housing. Information on floor plans and amenities was not disclosed. Jim Pompa of Coldwell Banker brokered the sale of the site from Panepinto Properties, which recently closed on financing for a 678-unit multifamily project at Harborside, to GN Management. Construction is targeted for a 2027 commencement.

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Keurig-Dr.-Pepper-Burlington-Massachusetts

BURLINGTON, MASS. — Newmark has arranged the $84.5 million sale of the 431,233-square-foot campus of Keurig Dr Pepper in Burlington, located north of Boston. The two-building campus was constructed in 2014 and consists of a 280,560-square-foot office building and a 150,673-square-foot research-and-development/manufacturing facility. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark represented the seller, Peakstone Realty Trust, in the transaction. The team also procured the buyer, Montana Avenue Capital Partners.

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Woodchase-Apts-San-Leandro-CA

SAN LEANDRO, CALIF. — Sack Capital Partners and Align Finance Partners have closed on structured financing on behalf of Step Up Housing for its $47.4 million acquisition of Woodchase Apartments, an affordable multifamily property in San Leandro. Sack will also provide asset and property management for the property. Located at 2795 San Leandro Blvd., Woodchase Apartments offers 186 studio, one- and two-bedroom floor plans spread across 13 buildings. Originally built in 1976, the community includes 93 loft-style apartments with 19-foot ceiling heights. Institutional Property Advisors represented the undisclosed seller in the deal.

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2470-Faraday-Ave-Carlsbad-CA

CARLSBAD, CALIF. — CBRE has brokered the $22.1 million sale-leaseback of 2470 Faraday Avenue, a 19.4-acre site in Carlsbad. BLT Enterprises acquired the asset from the seller, a global science and technology company. The site includes a 127,200-square-foot industrial research and development and manufacturing facility, which the seller will lease back. The facility features highly specialized lab and research and development space, as well as manufacturing and distribution space. The facility has been owned and operated by the seller since the mid-1970s. Hunter Rowe, Matt Carlson, Michael Longo, Eric Cox, Barbara Perrier, Joe Cesta and Brian Russell of CBRE represented the seller in the deal.

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3055-Shasta-View-Dr-Redding-CA

REDDING, CALIF. — SRS Real Estate Partners has arranged the sale-leaseback of a retail property located at 3055 Shasta View Drive in Redding. North State Grocery sold the asset to an undisclosed real estate investment trust for $12.8 million. Holiday Market occupies the 31,222-square-foot building, which was completed this year, on an absolute triple-net lease with 20 years remaining, including scheduled rent increases and multiple options to renew. The grocery store is part of the Holiday Marketplace that also includes Starbucks Coffee and Quick Quack Car Wash. Alexander Moore of SRS Capital Markets represented the seller in the transaction.

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INDIANA, LOUISIANA, WISCONSIN AND KANSAS — W. P. Carey has acquired four inpatient rehabilitation facilities (IRF) located in Indiana, Louisiana, Wisconsin and Kansas for $137 million. New Era Cos. and WB Development Partners developed and owned the 191,000-square-foot portfolio. The properties are triple-net leased to NewEra Nobis Operations Holdings, a healthcare provider specializing in comprehensive rehabilitation services for patients recovering from debilitating illnesses and injuries. The weighted average lease term is 17 years with fixed annual rent increases. As part of the transaction, W. P. Carey is also funding a 10-bed expansion of the Kansas facility. Nobis Rehabilitation Parters manages the properties. The inpatient rehabilitation sector largely serves elderly and Medicare-eligible individuals. IRFs typically provide shorter lengths of stay and superior health outcomes relative to other post-acute options, according to W. P. Carey.

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CHICAGO — CEDARst Cos. has purchased the Weyland, a seven-story, 132-unit apartment community in Chicago, for $34.6 million. Formerly known as A.M. 1980 Apartments, the property is located at 1980 N. Milwaukee Ave. at the gateway between the city’s Bucktown and Logan Square neighborhoods. Delivered in 2018, the asset features 6,245 square feet of ground-floor retail space and a mix of Class A amenities, including a fitness center, dog run and rooftop deck with views of Lake Michigan and the Chicago skyline. The building was 95 percent occupied at the time of sale. The Weyland marks CEDARst’s second Chicago acquisition of 2025, following the purchase of The Millie on Michigan in July. The company now owns and operates more than 5,000 units in Chicago.

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