DENVILLE, N.J. — Cushman & Wakefield has brokered the sale of a two-story, 15,879-square-foot office building located at 165 E. Main St. in the Northern New Jersey community of Denville. Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller the transaction. Toni Kaufmann of Realty Executives represented the new owner-occupier, which also requested anonymity.
HOUSTON — Atlanta-based investment firm MDH Partners has acquired a portfolio of nine industrial buildings totaling 563,343 square feet in northwest Houston. Two of the buildings are located at 7220 N. Sam Houston Parkway W, and the other seven buildings are located at 3403 N. Sam Houston Parkway W. The buildings were constructed between 2007 and 2013 and have an average suite size of 19,425 square feet. At the time of sale, the portfolio was 94 percent leased to 26 tenants. MDH Partners has tapped Stream Realty Partners as the new leasing agent. The seller and sales price were not disclosed.
LUBBOCK, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Birchwood Apartments, a 236-unit complex in Lubbock. Built in 1977, Birchwood Apartments offers one-, two- and three-bedroom floor plans with an average size of 713 square feet. Amenities include a pool, fitness center, clubhouse, business center, onsite laundry facilities, a dog park, playground and outdoor grilling stations. Yonnic Land of TMG represented the seller, Benefit Street Partners, in the transaction. Jon Krebbs of TMG procured the undisclosed, out-of-state buyer.
HOUSTON — JLL has brokered the sale of 5858 Westheimer, a 130,735-square-foot office building located in the Tanglewood area of West Houston. The eight-story building was constructed in 1981 and was 47 percent leased at the time of sale. Rick Goings and Dawson Hastings of JLL represented the seller, a special servicer, in the transaction. The buyer, an entity doing business as Geirin LandPark Westheimer LLC, plans to implement a value-add program that will upgrade the lobby, common areas, signage and spec suites.
ANSONIA, CONN. — Reliant RE Partners has purchased Bella Vista Apartments, a 91-unit multifamily building in Ansonia, located in New Haven County. The adaptive reuse building includes more than 8,000 square feet of commercial space and amenities such as a coffee lounge, business center and a gym. Victor Nolletti, Wes Klockner and Eric Pentore of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Bella Vista Ansonia LLC, in the transaction and procured Reliant as the buyer.
NEW YORK CITY — Marcus & Millichap has negotiated the sale of two multifamily development sites in Brooklyn. The combined sales price was $11.7 million. The adjoining sites at 2425 and 2413 Atlantic Ave. are located in the Ocean Hill neighborhood and offer a total of roughly 142,000 buildable square feet. Matthew Peters of Marcus & Millichap represented the sellers in the transactions and procured the buyer, a local private investor. All parties requested anonymity.
DAYTON, N.J. — CBRE has brokered the $5.7 million sale of an industrial outdoor storage (IOS) facility in Dayton, located in Central New Jersey. The site at 3 Wheeling Road includes a warehouse/service facility in addition to 3.5 acres of useable outdoor space. Mark Silverman, Elli Klapper, Liam McGregor and Mark Trevisan of CBRE represented the undisclosed seller in the transaction and procured the buyer, private investment firm Genesis.
SAN JOSE, CALIF. — San José State University (SJSU) has purchased Spartan Village on the Paseo (SVP) at 184 S. Market in downtown San Jose from Throckmorton Partners for $165 million. Throckmorton acquired the asset, the former Signia by Hilton Hotel south tower, in November 2023 and commenced a nine-month conversion into a 264-room student housing property with beds for approximately 700 undergraduate students. The 14-story property offers an onsite dining area and community kitchen, a fitness center, games room, co-learning spaces and a study lounge in the sky bridge. SJSU was granted access to $89 million in debt relief capacity as part of the state’s Higher Education Student Housing Grant program that allowed the university to enter a lease agreement with Throckmorton Partners. The agreement included an option to purchase after two years, which SJSU has implemented to assume ownership of the building.
PHOENIX — Speed Bay, sponsored by Academy Partners Group, has purchased a 228,733-square-foot portfolio of industrial properties in Phoenix from Top Ten Properties for $43.7 million, or $191.27 per square foot. The portfolio includes Carleton Square at 1711-1741 W. Rose Garden Lane, Top 10 Business Center at 4845 and 4855 W. McDowell Road and Valley Commerce Center at 4810-4828 S. 40th St. KBC Advisors represented the buyer, while the Leroy Breinholt team at Commercial Properties Inc./CORFAC International represented the seller in the deal.
GRESHAM, ORE. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of East Wind, an apartment community in Gresham. Terms of the transaction were not released. Hamid Panahi and Anthony Palladino of IPA and Whitney Rhoades of Marcus & Millichap represented the seller and procured the buyer in the deal. David Tabata of Marcus & Millichap served as broker of record in Oregon. Built in 1971, the three-story, eight-building property features 150 one-, two- and three-bedroom apartments with enclosed patios with planters boxes and large, dual-pane windows. Community amenities include a clubhouse with kitchen, individual leasing offices, a basketball court, playground and laundry facilities.