KEARNY, N.J. — NAI James E. Hanson has brokered the $26.3 million sale of a 5.4-acre industrial development site in the Northern New Jersey community of Kearny. The site is located within five miles of Port Newark, just off Exit 15E of the New Jersey Turnpike. Kenneth Lundberg, Patrick Lennon and Lorenzo Lambiase of NAI Hanson represented the buyer, San Francisco-based REIT Terreno Realty Corp., in the acquisition of the land. The new ownership did not disclose specific development plans.
WESTPORT, CONN. — CBRE has negotiated the $15 million sale of a 35,777-square-foot office building in Westport, located in the southern coastal part of the state. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin and Travis Langer of CBRE represented the seller, EWKAI Post Road Properties LLC, in the transaction. The team also procured the buyer, an affiliate of Waterway Capital LLC. The property was fully leased, primarily to Wells Fargo, at the time of sale.
DORAL, FLA. — Shoma Group has sold Sanctuary Doral Apartments, a 226-unit, six-story apartment building in Doral. The buyer, Avanti Group, purchased the property for $102.5 million, or $453,539 per unit. Still Hunter of Walker & Dunlop represented the seller in the transaction. Built in 2020, Sanctuary Doral includes one-, two- and three-bedroom floorplans. Rental rates average $2,210 to $3,660 for a 12-month lease and $2,410 to $3,860 with a seven-month lease. Other community amenities include a gym with steam room and sauna, pet spa, pool, bike path, mini soccer field, yoga lawn and a two-story clubhouse. The apartment property was fully occupied at the time of sale. Located at 9400 NW 41st St., Sanctuary Doral is situated close to retailers and restaurants such as McDonald’s, Walgreens, Starbucks and Publix. The apartment community is also about 13.3 miles from downtown Miami and 17.7 miles from Miami Beach.
HOUSTON AND DALLAS — Simply Self Storage, an Orlando-based owner-operator whose holdings total roughly 80,000 self-storage units across 23 states, has acquired a portfolio of eight facilities totaling approximately 4,200 units in Houston and Dallas. Seven of the properties spanning about 620,000 net rentable square feet and 3,600 units are located in Houston, with a roughly a third of that inventory being climate-controlled space. The Dallas property spans 65,950 net rentable square feet and 600 units. The seller and sales price were not disclosed.
BENTONVILLE, ARK. — Global Net Lease Inc. (GNL) has acquired the Walmart Learning Center, a 90,000-square-foot training and development center in Bentonville that is leased to Walmart Inc. The sales price was $40.6 million. The Walmart Learning Center serves as the primary digital and onsite training and development facility for Walmart associates. The retail giant has seven years of remaining lease term at the facility.
HOUSTON — New York City-based investment firm The Praedium Group has purchased Lenox Grand Crossing, a 330-unit apartment community in the western Houston suburb of Katy that was built in 2020. Units within the 10-building community feature stainless steel appliances, granite countertops, tile backsplashes and full-sized washers and dryers. Amenities include a pool with cabanas, outdoor pavilion with grilling stations, recreational lounge with a pool table and bar seating, a fitness center, two dog parks and a package locker system. The seller was not disclosed.
NASHVILLE, TENN. — Embrey Partners LLC, a San Antonio-based real estate investment and development firm, has disposed of Knox at MetroCenter, a 322-unit multifamily community in Nashville. Newmark brokered the sale. The sales price and buyer were not disclosed. Located at 101 Athens Way, Knox at Metrocenter is located about three miles north of downtown Nashville and overlooks Amulet Lake. The apartment property has one- and two-bedroom floorplans with units featuring 9-foot ceilings, wood-style flooring, kitchens with granite countertops and stainless steel appliances, bathrooms with a garden tub and a built-in computer desk and bookshelves. Community amenities include a clubhouse with games and a media center, fitness center, spin and yoga room, swimming pool, outdoor grilling and dining areas, dog park and a pet spa.
SUGAR LAND, TEXAS — JLL has negotiated the sale of Commerce Center Sugar Land, a 93,945-square-foot industrial property located on the southwestern outskirts of Houston. Built between 2006 and 2007, Commerce Center Sugar Land consists of six buildings with warehouse, manufacturing and specialized lab space that feature 16- to 18-foot clear heights and a 37 percent office finish. Trent Agnew, Charles Strauss, Katherine Miller and Jack Moody of JLL represented the seller, an affiliate of Houston-based Griffin Partners, in the transaction. A subsidiary of ARKA Properties Group Inc. purchased the asset for an undisclosed price.
COLORADO SPRINGS, COLO. — KeyBank Real Estate Capital has secured a $40 million Freddie Mac loan for Hamilton Zanze, a San Francisco-based real estate investment company, for the acquisition of Enchanted Springs, an apartment property in Colorado Springs. Built in 2020, Enchanted Springs features 200 one-, two- and three-bedroom apartments spread across 10 three-story residential buildings. Community amenities include a pool, hot tub, sundeck, cabanas, grilling areas, fitness center and clubhouse lounge. Paul Angle and Nicholas Lynn of KeyBank Real Estate Capital structured the financing. The loan features a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule.
ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of a logistics center situated on 12 acres at 14353 E. Otero Ave. in Englewood, a suburb seven miles south of Denver. Terms of the off-market transaction were not released. Completed in 2021, the 136,915-square-foot building features 32-foot clear heights, 37 exterior dock doors, three drive-in bays, ESFR fire protection, office space and ample parking. The single-tenant building, which was vacant at the time of sale, also has a rear-loading configuration. Larry Thiel and Sean Devaney of JLL Capital Markets and Carmon Hicks with JLL Industrial Leasing represented the seller in the deal. Hicks, Chris Schultz and James McGill, also of JLL, are handling leasing for the new owner.