PACOIMA, CALIF. — Newmark has arranged the sale of a five-building industrial portfolio in Pacoima. Chase Partners acquired the portfolio from a private local family for more than $16 million. John DeGrinis, Patrick DuRoss and Jeff Abraham of Newmark represented the buyer and seller in the transaction. Situated within the San Fernando Valley’s infill areas, the properties offer a total of 80,000 square feet. At the time of sale, the single-story portfolio was 100 percent occupied.
SAN ANTONIO — Terrain Capital Partners has purchased Haven at Westover Hills, a 326-unit apartment community located on San Antonio’s west side. Constructed in 2005 on 24 acres, the garden-style property’s amenities include a resort-style pool with sundeck and heated spa, fitness center, sand volleyball court, playground and a massage room. The average unit size is 1,010 square feet. Will Balthrope and Drew Garza of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, Flournoy Development Co., and procured the buyer in the transaction.
AUSTIN, TEXAS — Cushman & Wakefield has brokered the sale of The Plaza at Windsor Hills, a 200-unit multifamily property in North Austin. Built in 1983 and recently updated, the property features an amenity package that includes a pool, courtyard, bark park, clubhouse, outdoor grilling area, playground and a business center. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, Miami-based One Real Estate Investment, in the transaction. The buyer was Comunidad Partners.
LEWISVILLE, TEXAS — Weitzman has arranged the sale of The Shops at Vista Ridge, a 74,837-square-foot retail center located in the northern Dallas suburb of Lewisville. Texas Family Fitness and Harbor Freight Tools are the center’s anchor tenants, and other users include Salons by JC, McAlister’s Deli, Smoothie King and Hobbytown USA. Matthew Rosenfeld, Kevin Butkus and Giovanni Scardino of Weitzman handled negotiations on behalf of the seller, a partnership between New Jersey-based Lamar Cos. and Colorado-based Real Capital Solutions. The buyer was an undisclosed, locally based investment group.
SELINSGROVE, PA. — JLL has negotiated the $44.8 million sale of Monroe Marketplace, a 372,794-square-foot retail power center in Selinsgrove, about 170 miles northwest of Philadelphia. Giant Food Stores anchors the property, and other soft goods retailers include T.J. Maxx, Dick’s Sporting Goods, Kohl’s, Ross Dress for Less, Michaels, Old Navy, PetSmart and Ulta Beauty. Restaurant users include Longhorn Steakhouse and Buffalo Wild Wings. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the undisclosed institutional seller in the transaction. Acadia Realty Trust purchased the asset for an undisclosed price.
NORTH PROVIDENCE, R.I. — Maryland-based investment and development firm Greenberg Gibbons has acquired North Providence Marketplace, a 112,497-square-foot shopping center in Rhode Island. Grocer Shaw’s is the anchor tenant of the property, which was 82 percent leased at the time of sale to tenants such as Dollar Tree, Sally Beauty Supply, H&R Block and EbLens. Justin Smith, Chris Peterson, Bryan Anderson, Ben Starr, Sam Koonce and Molly Lynch of Atlantic Capital Partners represented Greenberg Gibbons and the unnamed seller in the transaction. The sales price was not disclosed, but Greenberg Gibbons acquired the asset in conjunction with a 92,000-square-foot center in Maryland for a combined $34.6 million.
ELIZABETH, N.J. — Cushman & Wakefield has brokered the $34.5 million sale of a 240,000-square-foot industrial asset located within a Qualified Opportunity Zone in the Northern New Jersey community of Elizabeth. Building features include 58 loading positions, 185-foot truck court depths and an adjacent lot for tractors/employee parking. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Eli Millstein, Chuck Fern and Gary Casaletto represented the undisclosed seller in the transaction. The buyer was also undisclosed. The property was fully leased to seven tenants at the time of sale.
TACOMA, WASH. — Bridge Industrial has purchased a 160-acre land assemblage for the development of Bridge Point Tacoma 2MM, a 2.5 million-square-foot industrial project. Texas-based BNSF Railway Co. sold the 19 land parcels for $158 million. The site has been vacant and in disrepair for several years, and Bridge has committed to maintaining the remediations performed prior to its acquisition and any future required remediation for its proposed development. Located at 5802 S. Burlington Way, Bridge Point Tacoma 2MM will span four buildings and feature approximately 20 acres of trailer storage space. The buildings will offer 40-foot clear heights and expansive truck courts, with tenant spaces ranging from 100,000 square feet to 1.5 million square feet. Bridge plans to break ground on the campus in August 2022, with completion slated for summer 2023. Todd Clarke, Matt Murray, Matt McLennan and Ty Clarke of Kidder Mathews represented Bridge Industrial in the transaction.
BEAUMONT, CALIF. — JLL Capital Markets has brokered the sale of Marketplace Beaumont, a shopping center situated on 51.7 acres at 1604, 1693 and 1642 E. Second St. in Beaumont. Completed in 2008, the 187,851-square-foot property was 91 percent occupied at the time of sale. Tenants include ALDI, Ross Dress for Less, Best Buy, Petco and Bed Bath & Beyond. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the buyer, while Aldon Cole and Pat Burger of JLL Debt Advisory team represented the seller, a private family trust that originally developed the center, in the deal. JLL worked with Brixton Capital to source the transaction and structure the existing financing.
FAIRFIELD, CALIF. — SRS Real Estate Partners has brokered the sale of a retail property located at 200 Travis Blvd. in Fairfield. A West Coast-based owner and operator of retail properties sold the asset to a Los Angeles-based private 1031 exchange investor for $6.7 million. Grocery Outlet occupies the 33,590-square-foot property, which was built in 1977 on 4.1 acres. Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented the seller and buyer in the deal.