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Acquisitions

Upland-Flats-Colorado-Springs-CO
AcquisitionsColoradoMultifamilyWestern

Thompson Thrift Sells 300-Unit Upland Flats Multifamily Community in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — Thompson Thrift has sold Upland Flats in Colorado Springs to NALS Apartment Homes for an undisclosed figure. Matt Barnett, Dan Woodward, Jake Young and Dave Potarf of Walker & Dunlop brokered the sale. Thompson Thrift began developing the 300-unit community in 2021. The Watermark 2021 Multifamily Development Fund III LP provided equity for the project. Situated on 15.5 acres, Upland Flats’ amenity package includes 24-hour fitness centers, community gardens, dog parks and more.

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Westport-Plaza-Square-Costa-Mesa-CA
AcquisitionsCaliforniaRetailWestern

CBRE Arranges $25.7M Sale of Shopping Center in Costa Mesa, California

by Amy Works

COSTA MESA, CALIF. — CBRE has arranged the $25.7 million sale of Westport Plaza & Square, a 39,334-square-foot shopping center located in Costa Mesa. Built in 1975 and renovated in 2002 and 2018, the center is situated on 13.7 acres. Tenants at the property — which was 97 percent leased at the time of sale — include Plums Café & Catering, Fleur De Lys, Crumbl Cookies, Common Thread, House of Yogurt, Massimo’s Pizza and LaserAway. Westport Plaza & Square has roughly 54 years remaining on its long-term ground lease. Jimmy Slusher, along with Megan Lanni and Shaya Northrup of CBRE’s NRP-West team, represented both the seller, Newport Beach-based Space Investment Partners, and the buyer, Asana Partners, in the transaction.

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AcquisitionsIndustrialTexas

Oxford Partners Arranges Sale of 104,957 SF Industrial Building in North Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of a 104,957-square-foot industrial building in North Houston. According to Crexi.com, the building at 12001 Hirsch Road was built on 11.7 acres in 2010. Ryan Hartsell, Matt Rogers and Stephen Hazen of Oxford Partners represented the buyer, TF Warren Group, in the transaction. Carlton Anderson and Nathan Mai of Mohr Partners represented the undisclosed seller.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Brokers Sale of 59,252 SF Industrial Building in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — Lee & Associates has brokered the sale of a 59,252-square-foot industrial building in the South Texas city of Laredo. The front-load building sits on a 5.6-acre site within Unitec Business Park and includes 4,000 square feet of office space. Enrique Volkmer of Lee & Associates represented the seller, Vimex Ltd., in the transaction. The buyer was a company specializing in the manufacturing, distribution and servicing of heavy industrial trucks.

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AcquisitionsIndustrialTexas

Cravey Real Estate Negotiates Sale of 41,829 SF Industrial Building in Victoria, Texas

by Taylor Williams

VICTORIA, TEXAS — Regional brokerage firm Cravey Real Estate Services has negotiated the sale of a 41,829-square-foot industrial building in Victoria, about 85 miles north of Corpus Christi. The building is located at 203 Wayne Watkins Drive within a 16-acre industrial park and features a 30-foot clear height. John Foret of Cravey represented the seller, Ken Garner Manufacturing, in the transaction. The buyer was not disclosed.

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AcquisitionsIndustrialNew JerseyNortheast

CBRE Negotiates Sale of 236,000 SF Industrial Property in Somerset, New Jersey

by Taylor Williams

SOMERSET, N.J. — CBRE has negotiated the sale of Cottontail Logistics Center, a 236,000-square-foot industrial property located in the Northern New Jersey community of Somerset. The two-building property was completed in 2024 and features a clear height of 36 feet, 65 loading docks and 98 car parking spaces. Brian Fiumara and Elli Klapper of CBRE brokered the transaction. Cottontail Logistics Center was fully leased at the time of sale.

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AcquisitionsMultifamilyNew YorkNortheast

Adirondack Capital Partners Arranges $9.4M Sale of Overlook Apartments in Troy, New York

by Taylor Williams

TROY, N.Y. — Regional brokerage firm Adirondack Capital Partners has arranged the $9.4 million sale of Overlook Apartments, a 74-unit multifamily complex in Troy, located just north of Albany. The property was built in 2016. According to Apartments.com, units come in one- and two-bedroom floor plans, and amenities include a game room, lounge, picnic areas and onsite laundry facilities. Michael Hunter Coghill of Adirondack Capital Partners represented both the seller, an entity doing business as Overlook Revive LLC, and the buyer, Corridor Ventures, in the transaction.

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AcquisitionsDevelopmentFloridaIndustrialSoutheast

Parkway Sells 705,000 SF Industrial Building at Lakeland Central Park in Central Florida, Plans Phase II Expansion

by John Nelson

LAKELAND, FLA. — Parkway has sold LCP 200, a 705,000-square-foot industrial building located within Lakeland Central Park. The buyer was not disclosed, but The Ledger reports that Ashley Furniture purchased the facility for $70.5 million. Jared Bonshire, David Perez, Taylor Zambito, Ryan Hubbard, Lisa Ross and Trey Carswell of Cushman & Wakefield represented Parkway in the transaction. Since breaking ground in 2021, Parkway has completed the first phase of Lakeland Central Park, including the delivery of multiple pad-ready sites and the construction of LCP 200. Phase II of Lakeland Central Park will feature an extension to Winston Park Boulevard for direct interstate access, a 260,000-square-foot cross-dock industrial building and additional pad-ready sites that can accommodate 162,000 square feet to 1.6 million square feet.

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AcquisitionsMississippiSoutheastStudent Housing

TSB Realty Brokers Sale of 802-Bed Student Housing Community Near Mississippi State University

by John Nelson

STARKVILLE, MISS. — TSB Realty has brokered the sale of HELiX Starkville, an 802-bed student housing community located near the Mississippi State University (MSU) campus in Starkville. Columbus Pacific sold the property to a joint venture between Pumphouse Residential Group and WeldenField for an undisclosed price. SPM, an affiliate of PRG and WeldenField, will provide comprehensive property and construction management services for the community. Delivered in 2016, HELiX Starkville offers fully furnished units in a mix of one-, two- and four-bedroom floorplans on the southeastern edge of the MSU campus. Amenities include a two-story fitness center, resort-style pool, clubhouse with billiards, study enclaves and community TVs, tanning, gaming and coffee lounges and an outdoor grilling area. The property was 95 percent occupied at the time of sale.

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AcquisitionsCaliforniaMixed-UseMultifamilyOfficeWestern

Manova Partners Buys Parallel on Fourth Mixed-Use Property in San Mateo, California

by Amy Works

SAN MATEO, CALIF. — Manova Partners has acquired Parallel on Fourth, a mixed-use property in downtown San Mateo. Terms of the transaction were not disclosed. Located at 405 E. 4th Ave., the property offers 15 residential units above 62,338 square feet of office space and two levels of subterranean parking. Verkada, a provider of cloud-based security and operating systems, fully occupies the office space and master leases 13 of the residential units. The remaining units are offered at below market-rate rents. Eric Ramm of Manova negotiated the transaction on behalf of Manova Partners. Will Connors and Adam Lasoff of JLL Capital Markets represented the seller in the deal.

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