HOUSTON — JLL has brokered the sale of a 225,000-square-foot, vacant office building in northwest Houston. The nine-story building at 4646 W. Sam Houston N was built in 2001 within the 150-acre Westway Park master-planned development and was most recently leased to oilfield services company Schlumberger, now known as SLB. Marty Hogan and Kevin McConn of JLL represented the undisclosed seller in the transaction. The buyer was US Property Management.
NEWPORT BEACH, CALIF. — CrownPoint Partners, a California-based brokerage firm, has arranged the sale-leaseback of a portfolio of five gas stations in Texas. The locations were not disclosed, but the sites are situated within “high-growth” markets, according to CrownPoint. Julius Swolsky and Don Bingham III of CrownPoint represented the seller in the all-cash transaction and procured the buyer, a Delaware-based investment firm. Both parties requested anonymity.
AZUSA, CALIF. — A joint venture between Legacy Partners and PGIM has purchased University Village, a student housing property in Azusa, from Azusa Pacific University for $92 million. The community will be rebranded as Citrus Place Apartments and will be available for leasing by the end of September. Built in 1985, the property was previously used as student housing by Azusa Pacific University until the end of spring semester 2025. Located at 801 E. Alosta Ave., the 14-acre property consists of 20 two-story garden-style residential buildings offering a mix of 320 one- and two-bedroom apartments. Units include washers/dryers, kitchen appliances, dishwashers, central heating, air conditioning and individual hot water heaters. Community amenities include two outdoor swimming pools, a hot tub, a recreational room, two tennis courts, a basketball court and 600 parking spaces. In addition to the rebranding, Legacy Partners and PGIM plan to create a new leasing office and fitness center and make value-add improvements such as interior renovations, exterior paint and landscaping upgrades.
DALLAS — California-based healthcare investment firm HPA Exchange has acquired the Nexus Dallas Children’s Hospital, a 86,880-square-foot facility located at 9525 Greenville Ave. on the city’s north side. Nexus Health Systems operates the facility, which was renovated in 2022 as a build-to-suit for the provider. The pediatric hospital features 30 beds (expandable to 60) and offers seven care programs across 10 specialized services. The seller and sales price were not disclosed.
NORTH LAS VEGAS, NEV. — Rockefeller Group has completed the sale of a 104,440-square-foot industrial building within Cheyenne Industrial Park at 3130 N. Lamb Blvd. in North Las Vegas to an undisclosed buyer for $23.5 million. The distribution facility features a clear height of 32 feet, 18 dock-high doors, two grade-level doors, a 135-foot gated truck court, 105 auto parking stalls, 2,000 amps of power and 2,528 square feet of office space. The two-building Cheyenne Industrial Park was designed by HPA Architecture with Martin Harris Construction as general contractor. Both buildings feature six-inch floor slab thickness, LED lighting, TPO roofing, ESFR sprinklers and evaporative coolers. Jason Simon, Rob Lujan and Danny Leanos of JLL represented the seller in the deal.
LOS ANGELES — Insomniac Entertainment has acquired the Avalon Theatre in Los Angeles’ Hollywood submarket from Ligny LLC for $15.7 million. Located at 1735 Vine St., the two-story, 33,400-square-foot Avalon Theatre was built in 1927. Jason Lamoreaux of Coldwell Banker Commercial Real Estate Solutions represented the seller and buyer in the deal, which is the first time the property has traded hands in 50 years.
TUCSON, ARIZ. — Union Hospitality Group has purchased a 6,208-square-foot retail space at 2465 N. Campbell Ave. in Tucson. JPMorgan Chase Bank NA sold the asset for $2.4 million. Greg Furrier and Natalie Furrier of Cushman & Wakefield | PICOR represented the buyer, while Dave Hammack of Cushman & Wakefield | PICOR represented the seller in the deal.
LEAWOOD, KAN. — KBS has sold Park Place Village, a 10-building, 484,980-square-foot office and retail property in the Kansas City suburb of Leawood, for $100 million. DFW Land, a development company that specializes in the acquisition, development and sale of land in the Dallas-Fort Worth Metroplex area, was the buyer. Park Place Village was owned by KBS Real Estate Investment Trust III and purchased in 2015. Developed in phases between 2007 and 2013, the property features amenities such as boutique shops, upscale restaurants, a fitness center, bike storage, electric vehicle charging stations, onsite parking and a rooftop terrace. The surrounding area is home to shopping and entertainment venues, parking garages, the Aloft Hotel, 201 apartment units, 30 townhouses and 27 lofts. The asset was fully leased at the time of sale. Derek Fohl and Gary Carr of Newmark represented KBS in the sale with support from the brokerage firm’s Jim Postweiler, Peter Harwood, Jack Trager, Jake Paschen, Robert Hill, Chris Murphy and Austin Sheehan. Attorneys Bruce Fischer and Howard Chu along with paralegal Amanda Kennedy of Greenberg Traurig LLP represented KBS as legal counsel in the disposition. Ari Schwartzbard and Bill Weber of Newmark arranged a $62 million acquisition loan on …
CHICAGO — Essex Realty Group LLC has arranged the $11.1 million sale of 2407 W. Eastwood Avenue, a 40-unit apartment building in Chicago’s Lincoln Square neighborhood. Completed in 2017, the property features ground-floor retail space and studio and one-bedroom apartments. Amenities include garage parking, bike storage and shared laundry facilities. Jim Darrow and Jordan Gottlieb of Essex represented the undisclosed seller.
BOSTON — JLL has negotiated the $83 million sale of a 28,856-square-foot retail property in Boston’s Back Bay neighborhood. Known as the Mandarin Oriental Retail Collection, the spaces are located at 772 and 776-778 Boylston St. at the base of the Mandarin Oriental Hotel and within the Prudential Center. Citizens Bank anchors the space, which was 82 percent leased at the time of sale. Other tenants include Frette, MiniLuxe and Lunette Optic. Chris Angelone, Zach Nitsche, Sam Wiesman and Anthony Cutone of JLL represented the undisclosed seller in the transaction and procured the buyer, The Hennick Group.
