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Acquisitions

AcquisitionsMultifamilyNorth CarolinaSoutheast

Blackfin Sells Pressley South End Apartments in Charlotte for $78M

by John Nelson

CHARLOTTE, N.C. — Blackfin Real Estate Investors has sold Pressley South End, a 504-unit apartment community located at 1210 Pressley Road in Charlotte’s South End submarket. The undisclosed buyer purchased the community for $78 million. Built in 1969, the property comprises one-, two- and three-bedroom units and features onsite management and maintenance teams, a basketball court, playground, pet park and a walking trail. Deaton Investment Real Estate represented Blackfin in the transaction, which is the firm’s third sale in 2022. Blackfin purchased Pressley South End in June 2017 for $19 million.

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AcquisitionsHealthcareMixed-UseRetailSoutheastTennessee

PEBB Enterprises Sells Mixed-Use Shopping Center in Suburban Memphis for $35.5M

by John Nelson

GERMANTOWN, TENN. — PEBB Enterprises has sold Germantown Village Square, a 199,142-square-foot mixed-use property located at 7670 Poplar Ave. in the Memphis suburb of Germantown. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in its $35.5 million sale of the property to Hendon Properties LLC. Germantown Village Square includes 138,995 square feet of ground-floor retail space and 60,147 square feet of second-floor office space occupied primarily by West Clinic, a subsidiary of Baptist Memorial Health Services. Built in 1975 and renovated in 2000, the center was 90 percent leased at the time of sale to tenants including T.J. Maxx, DSW, Ulta Beauty, Old Navy and Five Below.

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AcquisitionsFloridaIndustrialSoutheast

Westmount Realty Capital Sells 246,818 SF Refrigerated Warehouse in St. Augustine, Florida

by John Nelson

ST. AUGUSTINE, FLA. — Westmount Realty Capital has sold a 246,818-square-foot refrigerated warehouse located at 4055 Deer Park Blvd. in St. Augustine. Built on 25 acres in 1994, the property was fully leased at the time of sale to KeHE Distributors, a national wholesale food distributor. The firm has been a tenant at the Deer Park facility since 2008. The buyer and sales price were not disclosed.

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AcquisitionsIndustrialMarylandSoutheast

Cushman & Wakefield Arranges Sale of 200,000 SF Industrial Property in Baltimore

by John Nelson

BALTIMORE — Cushman & Wakefield has arranged the sale of a 200,000-square-foot warehouse at 3501 E. Biddle St. in Baltimore. The 36-acre site is situated near the Port of Baltimore, I-95 and I-895 and includes two acres of available land for leasing. Metro Chicago-based Industrial Outdoor Ventures (IOV) purchased the property from SK Realty for an undisclosed price. Jonathan Carpenter, Graham Savage and McLane Fisher of Cushman & Wakefield represented IOV in the transaction. The warehouse was fully leased to three tenants at the time of sale.

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AcquisitionsBuild-to-RentDevelopmentSingle-Family RentalTexas

Empire Group Acquires 48 Acres in Fort Worth for Build-to-Rent Residential Project

by Taylor Williams

FORT WORTH, TEXAS — Arizona-based developer Empire Group of Cos. has acquired 48 acres near North Riverside Drive and Golden Triangle Boulevard in Fort Worth for the construction of a build-to-rent residential project. Empire plans to develop Village at Golden Triangle, which will comprise 323 homes on 30 acres, and sell the remaining 18 acres, which are zoned for office and/or retail development. Homes will come in a mix of one-, two- and three-bedroom formats with private backyards, and residential amenities will include a pool, outdoor grilling areas, a fitness center, walking paths, community clubhouse and a dog park. Construction is set to begin in the first quarter of 2023. Details of the commercial component were not disclosed. Empire Group acquired the land for $16 million.

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AcquisitionsMidwestMinnesotaMultifamily

The Connor Group Acquires 275-Unit Apartment Complex in Burnsville, Minnesota

by Kristin Harlow

BURNSVILLE, MINN. — The Connor Group has acquired RiZE on Grand in the Minneapolis suburb of Burnsville for an undisclosed price. The 275-unit apartment complex opened in 2021. Amenities include an outdoor pool, fitness center, game room, fire pits, rooftop deck and dog park. Keith Collins, Abe Appert and Ted Abramson of CBRE represented the seller, LeCesse Development Corp.

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AcquisitionsIndustrialTexas

Colliers Brokers Sale of 10,575 SF Industrial Property in Rosharon, Texas

by Taylor Williams

ROSHARON, TEXAS — Colliers has brokered the sale of a 10,575-square-foot industrial property in Rosharon, located south of Houston. Built in 2008, the crane-served complex consists of a main warehouse with office space, break rooms and a conference room, as well as a 1,200-square-foot outbuilding. Christopher Winters and Walter Menuet of Colliers represented the seller, Glenmorangie LLC, in the transaction. The buyer was not disclosed

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AcquisitionsMidwestMissouriMultifamilyStudent Housing

JLL Brokers Sale of 656-Bed Student Housing Community Near University of Missouri

by Kristin Harlow

COLUMBIA, MO. — JLL Capital Markets has brokered the sale of The Wylder, a 656-bed student housing community located near the University of Missouri in Columbia. Built in 1989 and renovated in 2000, The Wylder features a pool, study room, computer room, fitness center and sport courts. Teddy Leatherman, Stewart Hayes, Scott Clifton and Henry Voges of JLL represented the seller, Trimont Real Estate Advisors. Tailwind Group acquired the asset for an undisclosed price.

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AcquisitionsIllinoisMidwestRetail

RPT Realty Sells 227,690 SF Shopping Center in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — RPT Realty has sold Mount Prospect Plaza, a 227,690-square-foot shopping center in the Chicago suburb of Mount Prospect. LBX Investments LLC purchased the grocery-anchored asset for an undisclosed price. Tenants include Aldi, Marshalls, Burlington, Ross Dress for Less and LA Fitness. Walmart shadow anchors the property. George Good and Christian Williams led a CBRE team that represented RPT Realty.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Negotiates $4.2M Sale of Chicago Store Net Leased to Just Tires

by Kristin Harlow

CHICAGO — Marcus & Millichap has negotiated the sale of a 6,000-square-foot retail property net leased to Just Tires in Chicago for $4.2 million. The asset is located at 4809 N. Broadway St. in the Uptown neighborhood. Nicholas Kanich of Marcus & Millichap brokered the transaction between the Chicago-based seller and Delaware-based buyer.

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