HOUSTON — NAI Partners has brokered the sale of Sunny’s Self Storage, a 622-unit facility located at 1555 W. Grand Parkway N. in West Houston. The facility sits on a 2.5-acre site and spans 93,455 net rentable square feet. Ryan DeGennaro of NAI Partners represented the seller, Hetsun Partners, in the transaction. DeGennaro also assisted the buyer, an undisclosed regional investment firm, in closing the deal.
HOUSTON — California-based investment firm KBS has sold Ten West Corporate Center, a 199,000-square-foot office building located in the Energy Corridor area of West Houston. The four-story building, which was built in 1988 and fully leased at the time of sale, is located within the 500-acre Park Ten office development. Kevin McConn and Marty Hogan of JLL represented KBS in the transaction. Susan Hill, also with JLL, arranged acquisition financing on behalf of the buyer, a joint venture between New York City-based Ellingstone Group and an undisclosed institutional investor.
FORT WORTH, TEXAS — A joint venture between New York City-based CP Capital and Arizona-based Alliance Residential Co. has sold Broadstone Southside, a 179-unit multifamily property in Fort Worth. The buyer and purchase price were not disclosed. Built in 2020, the property offers one- and two-bedroom units that are furnished with stainless steel appliances and granite countertops. Amenities include a pool, fitness center, dog park and an entertainment patio with grilling stations and a fire pit. Michael Ware, Drew Kile, Taylor Hill, Joey Tumminello, Will Balthrope and Jeffrey Kindorf of Institutional Property Advisors (IPA), a division of Marcus & Millchap, represented the seller in the deal. The team also procured the buyer, Railfield.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of Agave Villas, a 94-unit apartment complex in Irving. According to Apartments.com, the property was built in 1980, features one- and two-bedroom units and offers amenities such as a pool, playground and picnic areas. David Fersing, Nick Fluellen, Bard Hoover and Wesley Racht of Marcus & Millichap represented the seller and procured an out-of-state investment firm as the buyer. Both parties requested anonymity.
MANTENO, ILL. — Provender Partners has acquired a 570,028-square-foot industrial facility in Manteno, about 55 miles south of downtown Chicago. The purchase price was $30 million. Located at 1125 Sycamore Road and built in 1999, the property is fully temperature-controlled. It features 84 docks, 132 trailer stalls and rail service. The facility serves as the Midwest distribution center for McKesson’s pharmaceutical supply chain. The acquisition also includes 50 acres of excess land, which is fully entitled for the development of an additional 620,000 square feet of industrial space. Provender is considering several options for the land, including future expansion of the existing building, speculative or build-to-suit development. This is the fourth and largest food-related industrial building that Provender has acquired in the Chicago area over the past 18 months. Will Mura and Ted Gates of CBRE brokered the sale, the seller in which was undisclosed.
CHICAGO — Becovic, a Chicago-based multifamily owner and operator, has acquired The Fleetwood in Chicago’s Edgewater Beach neighborhood for $7.2 million. The 59-unit apartment building is located at 6026 N. Winthrop Ave. Originally built in 1929, The Fleetwood rises eight stories with 21 studios, 37 one-bedroom units and one two-bedroom unit. The seller, an owner and operator of several apartments in the area, owned the property for almost 40 years.
EAST WINDSOR, CONN. — A joint venture between Wharton Industrial, an investment arm of New York City-based Wharton Equity Partners, and Boston-based Long Wharf Capital has acquired a 279,256-square-foot warehouse in Connecticut. The property, which is located in East Windsor, a northern suburb of Hartford, was built on 40 acres in 1979. Building features include a clear height of 18 to 20 feet, over 300 parking spaces and 5,000 square feet of designated office space. Chris Metcalfe and Jack Reed of CBRE brokered the deal and will also handle leasing of the property on behalf of the new ownership, which will implement a capital improvement program.
Waterford Property, Development Authority Acquire 265-Unit Apartment Building in Anaheim for $127.3M
ANAHEIM, CALIF. — Waterford Property Co., in partnership with California Statewide Community Development Authority (CSCDA), has purchased 1818 Platinum Triangle, a 265-unit multifamily property located at 1818 S. State College Blvd. in Anaheim’s Platinum Triangle. UDR sold the asset for $127.3 million. Upon taking ownership, Waterford and CSCDA will immediately lower rents for qualified new residents making between 60 percent and 120 percent of the area median income under CSCDA’s middle-income housing program. Joseph Smolen, Geoff Boler and Lee Redmond of Eastdil Secured represented the buyers in the deal.
CASTLE ROCK, COLO. — Blue West Capital has brokered the sale of a single-tenant building located at 220 S. Wilcox St. in Castle Rock. A California-based 1031 exchange investor acquired the newly constructed asset for $2.8 million. The United States Postal Service occupies the 5,382-square-foot property as a mission-critical financial station that combines retail operations and carrier logistics. Zach Wright and Brandon Gayeski of Blue West Capital represented the seller, a Midwest-based real estate development firm, in the deal.
NAMPA, IDAHO — Blueprint Healthcare Real Estate Advisors has arranged the sale of Streamside Assisted Living & Memory Care in Nampa. The community features 54 assisted living units and 25 secured memory care units. A regional buyer expanding in the Pacific Northwest acquired the property from a local seller. Further details were not disclosed.