GLASTONBURY, CONN. — CBRE has negotiated the sale of The Tannery, a 250-unit apartment community in Glastonbury, a southern suburb of Hartford. Built in 2017, The Tannery offers a pool, sundeck with grilling areas, fitness center with a yoga studio, dog park, gaming area and a resident lounge. Units feature stainless steel appliances, granite countertops and wood-style vinyl plank flooring. Jeffrey Dunne, Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, a partnership between Lexington Partners LLC and a fund advised by UBS Realty Investors LLC, in the transaction. The team also procured the buyer, Jones Street Investment Partners.
GREER, S.C. — Development and investment firm CRG has sold Building C at The Cubes at Inland 85 in Greer, located midway between Greenville and Spartanburg. Investment management firm PRP purchased the asset for $119.5 million. An affiliate of Techtronic Industries Co. Ltd. fully occupies the 1.4 million-square-foot distribution center. Techtronic is a global consumer products company headquartered in Hong Kong. Its brand portfolio includes Milwaukee, Ryobi, Hoover and others within the cordless power tools, accessories, floorcare and do-it-yourself segments. Completed in early November, Building C features a clear height of 36 feet, 246 dock doors, a 185-foot truck court and 555 trailer parking spaces. The building is situated five miles from the Greenville-Spartanburg International Airport and four miles from Inland Port Greer, with rail connection to the Port of Charleston. “The project benefits from great access to major transportation, which we know is more important than ever as e-commerce providers are striving to meet the growing consumer demands for quick delivery,” says Mike Demperio, partner and senior vice president of the Southeast region at CRG. “Additionally, Greenville-Spartanburg continues to be an attractive investment market because of its business-friendly, labor-rich environment and easy access to the Southeast and Eastern Seaboard.” …
ST. LOUIS — Cushman & Wakefield has brokered the sale of two industrial buildings totaling 1.1 million square feet in St. Louis for $75.1 million. The buildings are part of Gateway Commerce Center and are situated within the city’s Metro East submarket. The facilities, Gateway East 520 and Gateway East 624, were both developed in 2016. James Carpenter, Mike Hanrahan, Ed Lampitt and Elizabeth Given of Cushman & Wakefield represented the seller, Dallas-based L&B Realty Advisors. Plymouth REIT was the buyer.
ELKHART, IND. — Holladay Properties has sold a 97,412-square-foot industrial building in Elkhart for an undisclosed price. The property, which is located at 2810 Bridger Court and built in 1999, is fully leased to All-State Industries and Midwest Sales and Service. Holladay acquired the asset from All-State Industries in 2020. Holladay’s Paul Phair coordinated the sale, while Ryan White of Pinnacle Properties represented the undisclosed buyer.
ELGIN, ILL. — SVN | Chicago Commercial has brokered the sale of McLean Square in Elgin for $2.7 million. The 23,405-square-foot retail strip center is situated on 2.5 acres along McLean Boulevard. Dollar Tree is the anchor tenant. David Coupe of SVN worked alongside Lee Kotler of Konnect Real Estate to reposition and lease up the asset, which had fallen into receivership. Buyer and seller information was not provided.
BAYTOWN, TEXAS — Marcus & Millichap has arranged the sale of Main Plaza Storage, a 554-unit self-storage facility located in the eastern Houston suburb of Baytown. The property spans 66,500 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction. Knobler also procured the New York-based buyer, which plans to implement a value-add program. Both parties requested anonymity.
HOUSTON — Colliers has negotiated the sale of Woodstone Manor Apartment Homes, a 144-unit complex in Houston. The property, which was 98 percent occupied at the time of sale, is located at 10250 Lands End Drive on the city’s southwest side. Bob Heard, Chip Nash and Todd Stewart of Colliers represented the undisclosed seller in the deal. The buyer was Gibby’s Capital Investments.
DALLAS — Illinois-based chemicals distributor Univar has sold a 57,418-square-foot industrial building located at 3636 Dan Morton Drive in southwest Dallas. The rail-served building sits on 8.5 acres and was vacant at the time of sale. Craig Jones and Caleb McCoy of JLL represented the seller in the transaction. Chicago-based Industrial Outdoor Ventures purchased the property for an undisclosed price.
POTTSVILLE, PA. — Namdar Realty Group has sold Cressona Mall, a 283,553-square-foot shopping center in Pottsville, about 100 miles northwest of Philadelphia. The center was 90 percent leased at the time of sale to tenants such as Giant Food, Planet Fitness, Ollie’s, Staples and Dollar General. The buyer and sales price were not disclosed. Jonathan Abda and Andrew Ebrani of Namdar represented the firm on an internal basis in the transaction. Cale Powers of Trinity RE Investment Services brokered the deal.
BOSTON — A partnership between True North Management Group and Boston-based Celera Properties has purchased a two-building office complex in the northern Boston suburb of Andover with plans to convert the property into a life sciences facility. The complex spans 233,726 square feet. Greg LaBine and Martha Nay of JLL arranged a $35.3 million floating-rate loan through OceanFirst Bank on behalf of the partnership. Proceeds will be used to acquire and reposition the complex.