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Acquisitions

Triton-Towers-Renton-WA
AcquisitionsOfficeWashingtonWestern

Innovatus Capital Partners Acquires Triton Towers Office Campus in Renton, Washington

by Amy Works

RENTON, WASH. — Innovatus Capital Partners has purchased Triton Towers, a trio of seven-story office buildings in Renton. Terms of the transaction were not disclosed. Triton Towers features more than 400,000 square feet of Class A office space. At the time of sale, Tower Three was fully occupied, Tower One had 24,413 rentable square feet available, and Tower Two had 48,650 rentable square feet available. The property offers two conference centers, an exercise facility with showers and lockers, outdoor picnic areas, a full-time day porter service, bike storage and free surface parking. LPC West, the West Coast arm of Lincoln Property Co., will provide property management services for the asset.

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Nut-Tree-Plaza-Vacaville-CA
AcquisitionsCaliforniaRetailWestern

Nella Holdings, Tower Investments Buy 371,114 SF Nut Tree Plaza in Vacaville, California

by Amy Works

VACAVILLE, CALIF. — Nella Holdings and Tower Investments, two local family-owned companies, have acquired Nut Tree Plaza in Vacaville. A partnership managed by Dallas-based Dunhill Partners sold the asset for $124.5 million. Located at 1621 E. Monte Vista Ave, the 371,114-square-foot Nut Tree Plaza features 68 retail stores, 17 restaurants and outdoor attractions, including a kiddie train. Current tenants include Nordstrom Rack, ULTA Beauty, Best Buy, PetSmart, Five Below, Cost Plus World Market, HomeGoods, Old Navy, Buffalo Wild Wings, Michaels, Bevmo!, Panera Bread, Peet’s Coffee, See’s Candies, Jelly Belly Candy Store and Jamba Juice. At the time of sale, the property was 96 percent occupied. Dunhill Partners will provide property management services for the retail center. Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE’s National Retail Partners – West represented the seller, a partnership managed by Dallas-based Dunhill Partners, while DCA Partners facilitated the relationship between the buyers. Citibank and Wells Fargo financed the transaction.

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Sweetgrass Corner
AcquisitionsRetailSouth CarolinaSoutheast

Continental Realty Corp. Purchases Shopping Center in Mount Pleasant, South Carolina for $17M

by Julia Sanders

MOUNT PLEASANT, S.C. — Baltimore-based Continental Realty Corp. (CRC) has purchased Sweetgrass Corner, a nearly 90,000-square-foot neighborhood shopping center in Mount Pleasant. New Market Properties, a subsidiary of Atlanta-based Preferred Apartment Communities Inc, sold the property for $17 million. The buyer purchased the property on behalf of Continental Realty Fund V L.P., and a co-investment vehicle related to Fund V, which are both managed by CRC. Built in 1999, Sweetgrass Corner features 13 tenants offering a mix of medical and personal care services, as well as sit-down and fast-casual restaurants. The site was formerly anchored by a BI-LO supermarket that was shuttered as part of a strategic decision by its parent company in 2019. Located at 1909 N Highway 17, the center is adjacent to Mount Pleasant Towne Centre, a 510,000-square-foot regional shopping venue acquired by CRC in 2020. The property is also situated on approximately 10 acres between North Highway 17 and Hungry Neck Boulevard.

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Varnfield Business Park
AcquisitionsIndustrialSouth CarolinaSoutheast

WRS Acquires Three Industrial Buildings Totaling 55,643 SF in Metro Charleston

by Julia Sanders

SUMMERVILLE, S.C. — WRS Inc. Real Estate Investments has acquired three fully tenanted industrial/flex buildings totaling 55,643 square feet in Summerville. Patrick Marr of WRS Inc. represented the firm internally. The seller and sales price were not disclosed. The industrial/flex buildings include the following: 114-A&B Trigard Lane (20,803 square feet); 215-A&B Varnfield Drive (25,000 square feet); and 220 Varnfield Drive (9,840 square feet). The properties are located about 25 miles from Charleston and 18 miles from Charleston International Airport.

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Georgia shopping center
AcquisitionsGeorgiaRetailSoutheast

Marcus & Millichap Arranges $7.7M Sale of Two Shopping Centers in South Georgia

by Julia Sanders

HINESVILLE AND BRUNSWICK, GA. — Marcus & Millichap has arranged the sale of two shopping centers in South Georgia for the combined sales price of $7.7 million. The two properties include Veterans Square in Hinesville and Canal Crossing in Brunswick. Constructed in 2018, Veterans Square is located on West Oglethorpe Highway. The property was fully leased at the time of sale to three tenants: Krispy Kreme, Mad Vapes and McAlister’s Deli. Built in 2018, Canal Crossing is located adjacent to the Sam’s Club in Brunswick. The center was fully leased at the time of sale to four tenants: Five Guys, Tropical Smoothie, Great Clips and Fuse Frozen Yogurt. Harrison Creason, Andrew Margulies and Benjamin Kapinos of Marcus & Millichap represented the seller, a limited liability company. John Leonard, Marcus & Millichap’s broker of record in Georgia, assisted in closing this transaction. The buyer was not disclosed.

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AcquisitionsIllinoisMidwestOfficeRetail

SVN | Chicago Commercial Brokers $33.5M Sale of Office Portfolio in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — SVN | Chicago Commercial has brokered the sale of a portfolio of office and retail buildings in Chicago’s Fulton Market district for $33.5 million. The portfolio comprises four buildings totaling more than 76,000 square feet as well as deeded parking spaces that can hold up to 58 cars. Scott Maesel, Drew Dillon, Chad Schroedl, Adam Thomas and Logan Parsons of SVN | Chicago Commercial’s Urban Team represented the seller. Buyer and seller information was not provided.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Arranges Sale of 20,273 SF Industrial Building in Suburban Chicago

by Kristin Harlow

CRESTWOOD, ILL. — Entre Commercial Realty has arranged the sale of a 20,273-square-foot industrial building in Crestwood, a southwest suburb of Chicago. The sales price was undisclosed. The property features five drive-in doors and an outdoor storage yard. The building is fully leased to two tenants. Jeff Locascio and Chris Wilbur of Entre represented the seller, TFZ Enterprises. Matthew Lee of Darwin Realty/CORFAC International represented the buyer, Commercial Business Properties LLC.

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AcquisitionsDevelopmentMidwestOhioRetail

Sheetz Purchases Vacant Lot in Seville, Ohio for $1.2M

by Kristin Harlow

SEVILLE, OHIO — Sheetz Inc., a gasoline station, convenience store and coffee shop chain owned by the Sheetz family, has purchased a vacant lot at 350 Center St. in Seville, about 40 miles south of Cleveland. The nearly 12-acre site sold for $1.2 million and will be custom-built for Sheetz. Jerry Fiume and Aaron Davis of SVN Summit Commercial Real Estate Advisors brokered the sale. The seller was undisclosed.

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AcquisitionsCompany NewsIndustrialOfficeTexasTop Stories

Mirae Asset Global Purchases Academy Sports Headquarters Campus in Metro Houston for $190M

by John Nelson

KATY, TEXAS — Mirae Asset Global Investments, a global investment firm based in Seoul, South Korea, has purchased the headquarters campus of sporting goods retail giant Academy Sports + Outdoors (Nasdaq: ASO) in the west Houston suburb of Katy. Phoenix-based Tratt Properties sold the 1.5 million-square-foot campus, which is triple-net leased to Academy Sports on a long-term lease, for $190 million. The 93-acre campus includes a little over 1.2 million square feet of warehouse space, 250,000 square feet of flexible office space and mezzanine space totaling approximately 800,000 square feet. Located at 1800 N. Mason Road, the site has immediate access to Interstate 10 and Texas Highway 99, which circles Houston. “From a logistics perspective, this property is exceptionally well-located, with access to highways in all directions,” says Ken Hedrick, executive managing director of Newmark. “The scarcity and increasing value of land in the west Houston area further enhance the property’s value.” Hedrick, along with Newmark colleagues Jerry Hopkins, Andrew Ragsdale, Alex Foshay and Kristian Nielsen, represented Tratt Properties in the sale. Dustin Stolly, Jordan Roeschlaub and Nick Scribani, also with Newmark, arranged acquisition financing on behalf of Mirae Asset Global. Tratt Properties is an active logistics real estate investor …

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