WARWICK, R.I. — Massachusetts-based investment firm Capital Group Properties has purchased Warwick Center, a 160,000-square-foot retail center in Rhode Island. The property sits on 15 acres at the intersection of Interstates 95 and 295 and houses tenants such as Barnes & Noble, Designer Shoe Warehouse, Edge Fitness, Ulta Beauty, Carrabba’s Italian Restaurant and Walpole Outdoors. Capital Group Properties purchased the asset from institutional investment firm Nuveen Real Estate for $12.3 million and plans to upgrade the landscaping, parking areas, signage, lighting and building façade. Nat Heald, Bill Moylan, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction.
LITTLE ROCK, ARK. — MCR, a hotel owner-operator with offices in New York City and Dallas, has bought Homewood Suites by Hilton Little Rock Downtown, a 116-room extended stay property in Little Rock’s downtown district. The seller and sales price were not disclosed. Homewood Suites by Hilton Little Rock Downtown is a six-story hotel that offers studio, one- and two-bedroom suites. Room features include a fully equipped kitchen, refrigerator, microwave, dishwasher and twin burner stove. Hotel amenities include a pool, basketball court, complimentary breakfast, free Wi-Fi, 24-hour business center, a grab-and-go market with snacks and beverages, lobby lounge, covered parking, laundry facilities and 1,058 square feet of event space. Located at 400 River Market Ave., the property is situated 1.2 miles from downtown Little Rock and 5.9 miles from the University of Arkansas. The property is also 7.7 miles from the North Little Rock Municipal Airport.
NEWARK, N.J. — OneWall Communities, a Connecticut-based owner-operator, has sold two workforce housing buildings totaling 191 units in Newark for $30 million. The properties primarily house one- and two-bedroom units. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer and Zach McHale of CBRE represented OneWall Communities in the transaction. The team also procured the undisclosed buyer, which plans to implement a value-add program.
FREMONT, IND. — Marcus & Millichap has arranged the $4.9 million sale-leaseback of a 129,920-square-foot industrial building in Fremont, a city in northeast Indiana that is a few miles south of the Michigan state line. Koester Metals Inc. (KMI) occupies the property, which is located at 301 W. Water St. and was built in 1975. Nikalos Beery, Joseph DiSalvo and Forest Bender of Marcus & Millichap represented KMI in the transaction. Aaron Kuroiwa, Jack Friskney and Austin Meeker of Marcus & Millichap secured and represented the buyer, a limited liability company.
WICHITA, KAN. — SVN | Chicago Commercial has brokered the sale of a 15,120-square-foot retail property occupied by Walgreens in Wichita for $4.4 million. The net-leased property is located at 333 W. 13th St. Tim Franz of SVN represented the undisclosed seller. A California-based private equity group was the buyer.
MEDWAY, MASS. — JLL has negotiated the $21.7 million sale-leaseback of a 120,000-square-foot industrial flex building located in Medway, about 35 miles southwest of Boston. Built on nine acres in 1983, the property consists of 85,000 square feet of warehouse space and 35,000 square feet of newly renovated office space. Coler Yoakam, Michael Restivo, Martha Nay, Lenny Pierce and Sean Lync of JLL represented the seller and occupant, global IT firm Spencer Technologies, in the transaction. Amy Lousararian led a JLL team that arranged $14.5 million in acquisition financing through HarborOne Bank on behalf of the buyer, Dallas-based Lincoln Property Co.
NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $5.4 million sale of a portfolio of three multifamily properties totaling 18 units, as well as six retail spaces, in Brooklyn’s Sunset Park neighborhood. The buildings were all constructed in 1931 and house two-bedroom units that are rent-stabilized. Greg Corbin and Chaya Milworn of Rosewood Realty Group represented the buyer and seller, both of which requested anonymity, in the transaction.
DALLAS — Regent Properties has acquired Trammell Crow Center, a 50-story, 1.2 million-square-foot office tower located at 2001 Ross Ave. in downtown Dallas. The property is among the tallest buildings in the city. Regent purchased the skyscraper from a group of institutional investors advised by J.P. Morgan Global Alternatives. While terms of the transaction were not released, The Dallas Morning News reports that the Class A tower, along with a retail building and parking garage across the street, sold for more than $600 million. The property recently underwent $180 million in renovations, which included the development of a 2,000-space parking garage, 10,000-square-foot athletic club, 10,000-square-foot conference center, tenant lounge, outdoor gathering areas and 32,000 square feet of retail space. The acquisition also includes the adjacent full city block situated at 2000 Ross Ave., which can accommodate a new residential or office tower. The site is also home to a JW Marriott slated to open in 2023, which was not included in the sale. “Last year we set an objective to invest more than $2 billion in high-quality office real estate across Texas and the Sun Belt regions,” says Eric Fleiss, CEO of Regent Properties. “The purchase of this iconic asset during a …
NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of B’s Stor All, a 286-unit self-storage facility in the northeastern San Antonio suburb of New Braunfels. The property consists of 32,320 net rentable square feet of non-climate-controlled space across 237 units, along with 49 outdoor parking spaces. Jon Danklefs of Marcus & Millichap represented the seller, an undisclosed limited liability company, in the transaction. The buyer and sales price were also undisclosed.
PEARLAND, TEXAS — Locally based investment firm Welcome Group has acquired a 44,800-square-foot, single-tenant building in the southern Houston suburb of Pearland that consists of 31,400 square feet of warehousing space and 12,800 square feet of office space. The sale also included a five-acre parcel that can support 80,000 square feet of new development. John Ferruzzo of Transwestern represented the undisclosed seller in the transaction. Ryan Wasaff and John Wilson represented Welcome Group on an internal basis.