ROSEVILLE, CALIF. — Schnitzer Properties has purchased Highland Reserve Marketplace, a 191,416-square-foot retail center in Roseville, a suburb of Sacramento. Tenants at the center, which is situated on 21.5 acres, include Kohl’s, Ashley HomeStore, BevMo!, PetSmart, In-N-Out, Krispy Kreme, Freebird’s World Burrito, Yummy Cookie and Nurtishop. The seller and sales price were not released.
BALDWIN PARK, CALIF. — Kidder Mathews has arranged the sale a retail property located at 13822 Garvey Ave. in Baldwin Park, an eastern suburb of Los Angeles. A private family investor sold the asset to an undisclosed buyer for $18.1 million in a 1031 exchange transaction. LA Fitness occupies the 45,000-square-foot facility, which is located at the intersection of Interstate 10 and Garver Avenue. Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal., while Janet Neman and Angelica Gotzev of Kidder Mathews represented the buyer.
JUPITER, FLA. — Mesa West Capital has provided a $135 million acquisition loan for The Sophia at Abacoa, a 390-unit multifamily community in Jupiter. Matt Williams and James Maynard of Newmark arranged the loan on behalf of the borrower, Berkshire Residential Investments. Located in the Abacoa neighborhood, Sophia at Abacoa was built in 2002 and offers a variety of one-, two- and three-bedroom floor plans housed in low-rise residential buildings on a 22-acre site. The property features a wide variety of amenities including a clubhouse, fitness center, two resort-style pools, dog park, sand volleyball court, outdoor grilling areas with picnic tables and a car detailing station. The property also benefits from being within walking distance of downtown Abacoa, which features shopping, dining and entertainment options. The Sophia at Abacoa is also near Roger Dean Stadium, the spring training facility for the Miami Marlins and the St. Louis Cardinals, in addition to 16 golf and country clubs in Jupiter. With the loan for Berkshire, Mesa West Capital has originated over $550 million in first mortgage and mezzanine debt in Florida over the past 12 months.
CHARLOTTE, N.C. — Avison Young has brokered the $35 million sale of a 300,000-square-foot industrial facility located at 10800 Withers Cove Park Drive in southwest Charlotte. Built in 2000, the property was fully leased at the time of sale to Essendant, a national wholesale distributor of office supplies. The facility features a concrete tilt-wall construction, cross-dock loading, an ESFR sprinkler system and available land for future expansion opportunities or excess trailer parking. Tom Tropeano, Chris Loyd and Chris Skibinski of Avison Young’s Charlotte industrial team represented the private seller in the transaction. The buyer and seller were not disclosed.
DALE CITY, VA. — Sterling Organization has sold Cheshire Station, a Safeway-anchored shopping center in the Washington, D.C., suburb of Dale City. Haverford Properties, an investment firm based in Philadelphia, purchased the 105,054-square-foot shopping center for $29.1 million. Cheshire Station’s tenant roster includes Petco, AutoZone, GNC, Sprint, Starbucks Coffee, Sherwin-Williams and a Virginia ABC liquor store. CBRE brokered the transaction. Sterling sold the property along with Market at Opitz, another shopping center in Northern Virginia, for a combined sales price of $58.4 million. Sterling currently owns and manages approximately 70 properties throughout the United States spanning 11.4 million square feet and approaching $2.4 billion in value.
AUSTIN, TEXAS — New York-based investment firm Clarion Partners has acquired a 354-unit apartment community located at the entrance to The Domain in North Austin. Completed earlier this year, Modera Domain offers studio, one- and two-bedroom units with an average size of 846 square feet. Amenities include a pool, fitness center, outdoor grilling and dining areas, dog park and a resident lounge, as well as coworking and private workspaces. Patton Jones and Andrew Dickson of Newmark represented the seller, a joint venture between Mill Creek Residential and PGIM, in the transaction.
WOODWAY, TEXAS — Dallas-based brokerage firm SHOP Cos. has negotiated the sale of Crossroads West Shopping Center, a 36,864-square-foot retail center in Woodway, a suburb of Waco. The property is situated adjacent to an H-E-B grocery store and was approximately 97 percent leased at the time of sale. Tim Axilrod of SHOP Cos. represented the seller, a Texas-based limited liability company, in the transaction. The buyer and sales price were not disclosed.
HOUSTON — NAI Partners has brokered the sale of a 26,125-square-foot warehouse located at 6927 Brittmoore Road in northwest Houston. According to LoopNet Inc., the single-tenant property was built in 2006, renovated in 2015 and features 30-foot clear heights. Zane Carman and Clay Pritchett of NAI Partners represented the seller, an entity doing business as Brittmoore Properties LLC, in the transaction. Jack Gaffney of Finial Group represented the undisclosed buyer.
WARRINGTON, PA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Shops at Valley Square, an approximately 293,000-square-foot shopping center in Warrington, a northern suburb of Philadelphia. Built in 2007, the center consists of 89,447 square feet of office space and 203,701 square feet of retail space that houses tenants such as Ulta Beauty, Designer Shoe Warehouse, Bath & Body Works, Sleep Number and Eastern Mountain Sports. Food and beverage users include P.F. Chang’s, Panera Bread and Gran Rodeo Mexican Grill. Brad Nathanson of IPA represented the undisclosed seller and procured the buyer, Lamar Cos., in the transaction. The Shops at Valley Square was 70 percent leased at the time of sale.
INDIANAPOLIS — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired a 34,630-square-foot industrial facility in Indianapolis for an undisclosed price. The building sits on three acres at 6266 Morenci Trail. The seller, Printing Technologies Inc., has occupied the property since its founding in 1994. The facility was originally built in 1984. Based in Fort Worth, Texas, MAG Capital Partners is led by Dax Mitchell and Andrew Gi.