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Acquisitions

Veranda-Austin
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of 362-Unit Apartment Community in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Newmark has brokered the sale of Veranda, a 362-unit apartment community located at 7205 E. Ben White Blvd. in downtown Austin. Completed in 2024, the garden-style property offers one-, two- and three-bedroom apartments and townhomes with an average size of 802 square feet. Amenities include a pool, outdoor grilling and dining areas, a game room and a fitness center. Patton Jones and Andrew Dickson represented the seller, Wayfinder Real Estate, in the transaction. Adam Randall and John Westby-Gibson, also with Newmark, arranged acquisition financing on behalf of the buyer, a partnership between Missio Capital and Bow River Capital.

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AcquisitionsIndustrialNew YorkNortheastSelf-Storage

JLL Brokers Sale of 598-Unit Self-Storage Facility in Mount Kisco, New York

by Taylor Williams

MOUNT KISCO, N.Y. — JLL has brokered the sale of a 598-unit self-storage facility in Mount Kisco, about 45 miles north of Manhattan. CubeSmart operates the facility at 140 Radio Circle, which was completed in 2024 and spans 64,130 net rentable square feet, the majority of which (92 percent) is climate-controlled space. Guthrie Garvin led the JLL team that represented the seller, DHIP Group, in the transaction and procured the buyer, an affiliate of New York City-based investment firm Andover Properties. The facility was 57 percent occupied at the time of sale. The sales price was not disclosed.

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AcquisitionsNorth CarolinaRetailSoutheast

SRS Brokers $7M Sale of New Store in Castle Hayne, North Carolina Leased to Tractor Supply

by John Nelson

CASTLE HAYNE, N.C. — SRS Real Estate Partners has completed the $7 million sale of a newly built, 21,930-square-foot store in Castle Hayne leased to Tractor Supply. The store is situated on 11.5 acres at 3400 Castle Hayne Road, roughly 11 miles north of Wilmington, N.C. Tractor Supply had 14 years remaining on its corporate-guaranteed lease at the time of sale. Calvin Short of SRS represented the seller, a developer based in Pine Hurst, N.C., in the transaction. Pierce Mayson of Matthews Real Estate Investment Services represented the buyer, an unnamed investor based in Conyers, Ga., that was completing the second leg of a 1031 exchange.

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AcquisitionsMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $19.6M Sale of Multifamily Portfolio in The Bronx

by Taylor Williams

NEW YORK CITY — Local brokerage firm Ariel Property Advisors has arranged the $19.6 million sale of the Tegford Portfolio, a collection of nine rent-stabilized multifamily buildings totaling 237 units in the Longwood area of The Bronx. The buildings all rise five stories and are located along Wales Avenue, East 152nd Street, East 151st Street and Tinton Avenue. The portfolio also features 12 commercial spaces. Victor Sozio, Shimon Shkury, Jason Gold, Remi Mandell, Jake Brody and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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AcquisitionsNew YorkNortheastOffice

Brax Realty Negotiates $13.2M Sale of Office Building in Manhattan’s Flatiron District

by Taylor Williams

NEW YORK CITY — Local brokerage firm Brax Realty has negotiated the $13.2 million sale of an office building in Manhattan’s Flatiron District. According to LoopNet Inc., the six-story building at 174-176 5th Ave. was constructed in 1900 and totals 21,588 square feet. The building also houses commercial space that is leased to Eisenberg’s Sandwich/S&P and State & Liberty. Michael Ferrara and Cole Kinney Leonhardt of Brax Realty brokered the deal. The buyer and seller were not disclosed.

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Pioneer-Square-Self-Storage-Mesquite-NV.jpg
AcquisitionsIndustrialNevadaSelf-StorageWestern

TK Storage Sells 52,195 SF Pioneer Storage Self-Storage Facility in Mesquite, Nevada

by Amy Works

MESQUITE, NEV. — TK Storage has completed the sale of Pioneer Square, a 52,195-square-foot self-storage facility in Mesquite. A regional operator acquired the asset for an undisclosed price. Built in 2015 on 2.8 acres, Pioneer Storage offers 285 self-storage units across eight single-story self-storage buildings including 161 drive-up units. The property features a gated entry with digital keypad, an onsite management office in front of the entrance gate, 24/7 video surveillance throughout the facility, concrete driveways and units with roll-up doors. Jordan Farrer of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller in the transaction.

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2505-S-80th-St-Tacoma-WA
AcquisitionsHealthcareOfficeWashingtonWestern

Marcus & Millichap Brokers Sale of 27,199 SF Medical Office Building in Tacoma, Washington

by Amy Works

TACOMA, WASH. — The Vara Group of Marcus & Millichap has arranged the sale of NVA Referral Center, a net-lease property in Tacoma. A limited liability company sold the asset to an undisclosed buyer for $12.6 million. NVA Summit Veterinary Management LLC occupies the 27,199-square-foot property on a 10-year triple-net lease basis. The property is located at 2505 S. 80th St. Matthew Herman and RJ Vara of The Vara Group of Marcus & Millichap represented the seller in the deal.

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22350-Cactus-Ave-Moreno-Valley-CA
AcquisitionsCaliforniaRestaurantRetailWestern

Hanley Investment Group Arranges $2.7M Sale of Starbucks-Occupied Retail Property in Moreno Valley, California

by Amy Works

MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail property at 22350 Cactus Ave. in Moreno Valley. Glendale, Calif.-based Chase Partners sold the asset to an Orange County, Calif.-based private investor for $2.7 million, or $1,817 per square foot. Starbucks Coffee occupies the 1,500-square-foot property, which includes a drive-thru. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while David Kluver of Lee & Associates represented the buyer in the transaction.

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AcquisitionsIllinoisIndustrialMidwestOhio

Investcorp Completes Disposition of Midwest Industrial Portfolio for $365M

by Kristin Harlow

CHICAGO, CLEVELAND, CINCINNATI AND COLUMBUS — Investcorp has sold a portfolio of Midwest industrial properties for $365 million. The assets total approximately 3.5 million square feet and are located within metro Chicago, Cleveland, Cincinnati and Columbus. The portfolio includes a group of 23 light industrial facilities spanning more than 2 million square feet across Columbus, Cincinnati and Cleveland as well as an eight-building, 1 million-square-foot industrial park located three miles from the Chicago O’Hare International Airport and a 434,000-square-foot distribution facility in metro Cleveland.

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

Oppidan Sells Senior Living Community in Minneapolis for $140M

by Kristin Harlow

MINNEAPOLIS — Oppidan Investment Co. has sold The Pillars of Prospect Park, a senior living community in Minneapolis, for $140 million, according to a recently published certificate of real estate value. Ventas, doing business as VLSHRE PILLARS LLC, was the buyer. Oppidan originally opened the community in May 2020. Situated with proximity to the University of Minnesota campus, the property features 283 units, including 133 independent living, 106 assisted living and 44 memory care units. Amenities include an onsite bistro, salon spa, chapel, fitness center, golf simulator and roof deck.

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