HOUSTON — Dallas-based brokerage firm STRIVE has negotiated the sale of Washington Plaza, a 44,950-square-foot retail and office complex in West Houston. Built in 2008, the property was 97 percent leased at the time of sale. Jake Dutson and Michael Hill of STRIVE represented the undisclosed seller — and original developer — of the property, in the transaction. The duo also procured the buyer, Dhanani Private Equity Group.
PORTSMOUTH, N.H. — Newmark has brokered the $24.5 million sale of a 102,059-square-foot warehouse and distribution facility in Portsmouth, located along the Maine-New Hampshire border. The building at 100 New Hampshire Ave. was completed last fall and was delivered fully preleased to an HCA Healthcare subsidiary and paper products provider Georgia-Pacific. Tyler McGrail of Newmark represented the seller, The Kane Co., in the transaction and procured the buyer, Wenberry Associates LLC. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and Allie Percoco of Newmark provided support for the transaction.
VIRGINIA BEACH, VA. — Berkeley Capital Advisors has arranged the $102 million sale of Landstown Commons Shopping Center, a 408,851-square-foot, open-air retail center located in Virginia Beach. Kohl’s, Ross Dress for Less, Best Buy, Old Navy and Ulta Beauty anchor the center. Other tenants include Bath & Body Works, Carter’s, Burlington, Five Below, Dollar Tree and PetSmart. Rob Carter of Berkeley Capital Advisors represented the seller, Rye, N.Y.-based Acadia Realty Trust, in the transaction. Moritt Hock & Hamroff represented the buyer, an affiliate of Yale Realty Services. Additionally, The Bank of Montreal provided $73.4 million in acquisition financing for the deal.
MISSION VIEJO, CALIF. — Orange County-based DJM has sold Gateway Shopping Center, a 79,001-square-foot shopping center located in Mission Viejo. An institutional buyer purchased the property for $51 million. JLL represented DJM in the all-cash transaction. Completed in 1979 on 7.4 acres, Gateway Shopping Center features a mix of tenants including Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase, among others. The center was 97 percent leased at the time of sale. DJM acquired Gateway Center in December 2021 from Gerrity Group for $39.5 million. Following the acquisition, DJM completed a repositioning strategy that featured new leases with Pacific Dental and several restaurant and fitness tenants, as well as enhanced landscaping, refreshed paint and the addition of a weekly farmers market.
NEW LENOX, ILL. — Greenstone Partners has arranged the $2.6 million sale of The Sherwin-Williams Center, a two-tenant retail property on Lincoln Highway in New Lenox, a southwest suburb of Chicago. The asset is home to Sherwin-Williams and Don Jose’s, a local Mexican restaurant. Jason St. John of Greenstone represented the seller, a Chicago-based developer, and procured the buyer, a Georgia-based investment group.
DALLAS — A partnership between multifamily owner-operator Ashcroft Capital and two Chicago-based investment firms, Temerity Strategic Partners and Pearlmark, has acquired the Birchstone Cedar Ridge, a 360-unit apartment community in South Dallas. Built in 2024, Birchstone Cedar Ridge features one-, two- and three-bedroom units that range in size from 660 to 1,541 square feet. Amenities include a pool with cabanas, outdoor kitchen and grilling areas, a dog park, fitness center, business center and a community clubhouse. The seller and sales price were not disclosed.
CEDAR PARK, TEXAS — Local investment firm Klepper Industrial has purchased a 30,000-square-foot building in Cedar Park, a northern suburb of Austin. The structure is known as 1615 Scottsdale Building Two and is currently vacant. Stan Nowak of Partners Real Estate represented the buyer in the transaction. Witt Westbrook of JLL represented the seller, a partnership between BCA Industrial Partners and Growth Capital Partners.
OLD LYME, CONN. — A partnership between Zelco Properties & Development, Grossman Development Group and The McDevitt Co. has acquired a 102,500-square-foot shopping center in Old Lyme, located in southern coastal Connecticut. Anchored by Big Y World Class Market, Old Lyme Marketplace is also home to tenants such as Walgreens, Grand Wine & Spirits and The Bowerbird Gift Shop. The seller and sales price were not disclosed.
NORTH CHARLESTON, S.C. — JLL has brokered the sale of Link Apartments Mixson, a 358-unit property located at 4501 Mixson Ave. in North Charleston’s Park Circle submarket. Comunidad Realty Partners purchased the apartment community from Grubb Properties for an undisclosed price. John Gavigan, John Mikels, Ben Bury and Chase Monroe of JLL represented the seller in the transaction. Additionally, Robert Wooten and Jackson Finch originated a Freddie Mac loan for the acquisition. Link Apartments Mixson was developed in phases in 2014 and 2019. The community features a mix of one- and two-bedroom apartments, as well as a saltwater pool, 24/7 fitness center, coworking spaces, dog park and a community clubhouse with a coffee bar.
BALTIMORE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Highlandtown Village, a 57,524-square-foot shopping center located at 3800 E. Lombard St. in Baltimore. Built in 1987, the retail center was fully leased at the time of sale to tenants including Hazlo International Foods, Dollar Tree, Baltimore Bark House, Fishtail Wine and Song’s Beauty Supplies. The average tenant occupancy at Highlandtown Village exceeds 14 years, according to IPA. David Crotts and Dean Zang of IPA represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.