FRANKLIN, TENN. — Matthews Real Estate Investment Services has negotiated the $11.8 million sale of Carothers Crossing, a shopping center located in Franklin. Hutt Cooke and Clay Smith of Matthews Real Estate Investment Services represented the undisclosed seller in the transaction. The buyer was also not disclosed. Carothers Crossing is fully occupied by tenants such as Starbucks, FirstBank and Pacific Dental. The property includes an outparcel occupied by Life Time Fitness. The property also includes seven triple net leases. Located at 5040 Carothers Parkway, the property is situated off Interstate 65 and is 21.8 miles from Nashville.
INDIANAPOLIS — Stos Partners and Cardinal Industrial have acquired a 1.1 million-square-foot light industrial portfolio in metro Indianapolis for an undisclosed price. The 34-property portfolio is 95 percent occupied by a variety of tenants. The California-based buyers plan to make improvements such as roof and parking lot upgrades and adding amenities. Alex Cantu and Alex Davenport of Colliers represented the seller, Indianapolis-based Mann Properties. Colliers will assume leasing and property management services for the portfolio. Jeremy Thornton, Andrew Gibson and Nicole Sayers of Colliers arranged $67.5 million in acquisition financing through Wells Fargo Bank.
DULUTH, MINN. — CBRE has brokered the sale of ENDI Apartments in Duluth, a city in eastern Minnesota. The sales price was undisclosed. The 142-unit luxury multifamily property includes 13,876 square feet of retail space that is fully leased. The development is located at 2120 London Road along Lake Superior. Ted Abramson, Keith Collins and Abe Appert of CBRE represented the seller, Lift Bridge Partners LLC. Endi Plaza LLC was the buyer.
ORLAND PARK, ILL. — Quantum Real Estate Advisors Inc. has arranged the sale of a single-tenant retail building occupied by REI in Orland Park, a southern suburb of Chicago. The sales price was undisclosed. The property was fully renovated in 2021 and leased to REI on a new, long-term net lease. Chad Firsel of Quantum represented the seller, a Chicago-based development group. George Pino of Commercial Brokers International represented the buyer, a California-based private investor.
PLEASANTON, CALIF. — JLL Capital Markets has arranged the sale of Britannia Business Center, a four-building R&D and office campus at 4125, 4155, 4255 and 4385 Hopyard Road in the Bay Area city of Pleasanton. A Virtua Partners-managed company sold the asset to an undisclosed buyer for $78 million. Situated on 19.3 acres, Britannia Business Center features 292,000 square feet of R&D and office space. Originally built between 1997 and 1998, the property features 13-foot to 20-foot clear heights, eight roll-up doors, one dock-high door and 1,600 to 3,000 amps available. At the time of sale, the asset was 68.6 percent leased with nearly half of the tenancy being credit tenants. Erik Hanson, David Dokko and Nick Deaver of JLL Capital Markets represented the seller in the deal.
NORTH LAS VEGAS, NEV. — Newport Beach, Calif.-based CapRock Partners has completed the disposition of CapRock Interchange Industrial Center, a Class A industrial campus located at 5345-5445 E. Centennial Parkway in North Las Vegas. Terms of the transaction were not released. Developed in 2020 and 2021, CapRock Interchange Industrial Center features 684,000 square feet of Class A industrial space spread across two warehouses. The 174,000-square-foot Building 1 features 32-foot clear heights, 39 dock-high doors, two grade-level doors and 105 parking spaces. The 510,000-square-foot Building 2 features a cross-dock design, 36-foot clear heights, 89 dock-high doors, four grade-level doors, 115 trailer parking stalls and 249 parking spaces. At the time of sale, the property was 100 percent leased to BarkBox, Boxabl and Evanesce Packaging Solutions. Andrew Briner and Brett Hardy of Newmark represented CapRock in the transaction, while Rob Lujan, Xavier Wasiak and Jason Simon of JLL represented CapRock as local market experts.
SCOTTSDALE, ARIZ. — ABI Multifamily has negotiated the sale of Bella Villas Apartments, a multifamily community in Scottsdale. The property traded for $7 million, or $333,333 per unit. The undisclosed buyer and seller are both based in Arizona. Built in 1960, Bella Villas Apartments features 21 garden-style, two-bedroom/two-bath floor plans with air conditioning/heating, refrigerators and ranges/ovens. Community amenities include onsite laundry, private yards, covered parking and a community swimming pool. Royce Munroe of ABI Multifamily represented both parties in the transaction.
TULSA, OKLA. — CBRE has negotiated the sale of a 622,814-square-foot industrial building in Tulsa that is fully occupied by Port City Metals Services. Built on 50 acres in 1950, the property features 35-foot clear heights, 70-plus parking spaces and 32,838 square feet of office space. Dwayne Flynn and Ryan Shaffer of CBRE represented the seller, an entity doing business as 1315 LLC, in the transaction. Radix Equity LLC purchased the asset for $13 million.
FORT WORTH, TEXAS — MAG Capital Partners has sold a portfolio of three Texas industrial properties totaling 320,852 square feet. Cameron Ashley Building Products Inc. occupies the portfolio, which comprises a 136,882-square-foot asset in Dallas, a 79,970-square-foot facility in Lubbock and a 104,000-square-foot property in San Antonio. An Israel-based fund purchased the portfolio for an undisclosed price. Chelsea Mandel, Jonathan Wolfe and Jordan Shtulman of Stream Capital Partners represented MAG Capital Partners in the transaction while also securing the buyer.
HOUSTON — Chicago-based investment firm 29th Street Capital has purchased Villas at Hermann Park, a 320-unit apartment community located near Texas Medical Center in Houston. Built in 2000, the property offers one-, two- and three-bedroom units with stainless steel appliances, granite countertops and full-size washers and dryers. Amenities include a pool, two conference rooms, a 24-hour fitness center, package pickup room, outdoor grilling and picnic stations and shuttle service to Texas Medical Center. The new ownership plans to implement a value-add program. The seller was not disclosed.