KANSAS CITY, KAN. — Taurus Investment Holdings LLC, a global private equity real estate firm, has acquired a light industrial portfolio in Kansas City for $55.2 million. Comprised of 20 buildings and more than 715,000 square feet, the portfolio will expand Taurus’ industrial platform to encompass 196 buildings totaling over 13 million square feet. Seller information and specific properties were not disclosed.
CHICAGO — Kiser Group has negotiated the sale of a 40-unit multifamily property located at 5301 N. Ashland Ave. in Chicago’s Andersonville neighborhood for $5 million. The building, comprised of 26 studio units and 14 one-bedroom units, went under contract in four days at the full asking price. Andy Friedman and Jake Parker of Kiser represented both the buyer, a local investor, and the seller, an unnamed family trust.
MUNSTER, IND. — Blue West Capital has arranged the sale of Ridgewood Plaza in Munster for $4.5 million. The 36,307-square-foot retail center is located on Ridge Road. Tenants include Fresenius, ATI Physical Therapy, Check ’n Go, GNC, Supercuts and Applebee’s. Carly Kelly of Blue West Capital represented the buyer, Time Equities Inc. A Chicago-based private investor was the seller.
CLINTON TOWNSHIP, MICH. — SRS Real Estate Partners has brokered the $2.5 million sale of an Aldi ground lease in Clinton Township, about 20 miles north of Detroit. The 19,744-square-foot, single-tenant building is located at 39827 S. Groesbeck Highway. Aldi has roughly 18 years remaining on its lease at the property, which was built in 2009. Frank Rogers and Michael Carter of SRS represented the seller, a Michigan-based private investor. SRS also represented the buyer, a Midwest-based private investor.
JACKSONVILLE, FLA. — Cushman & Wakefield has negotiated the sale of 6651 Gate Parkway, a 120,407-square-foot office building in Jacksonville. Mike Davis, Karl Johnston, Rick Brugge, Rick Colon, Dominic Montazemi, Zach Eicholtz and Chloe Strada of Cushman & Wakefield represented the seller, Real Capital Solutions, in the transaction. Aventura, Fla.-based MG3 REIT LLC acquired the property for $43.8 million. Located in the heart of Deerwood Park, the four-story building is fully leased to McKesson Corp., a provider of healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care and healthcare information solutions. Built-to-suit for McKesson in 2019, 6551 Gate Parkway houses nearly 800 employees and features collaborative workspace, lake views, highway visibility and walkable amenities. Additionally, 6551 Gate Parkway has received WELL and LEED Silver certifications.
SOUTHLAKE, TEXAS — JLL has brokered the sale of Southlake Business Park, a 182,129-square-foot light industrial development located near Fort Worth. The three-building park was developed in 2020 and was fully leased at the time of sale. Building features include 24- to 28-foot clear heights, 63 dock-high doors, 15 percent office finishes, ESFR fire protection systems and ample vehicle parking. Dustin Volz, Stephen Bailey, Dom Espinosa, Matthew Barge and Wesley Gilmer of JLL represented the seller, Holt Lunsford Commercial Investments, in the transaction. CBRE Global Investors purchased the asset for an undisclosed price. The development was fully leased to six tenants at the time of sale.
HOUSTON — Colliers International has brokered the sale of Atrium 10 Tower, a 79,956-square-foot office building located on Houston’s east side. The six-story property is situated on a 2.4-acre site that fronts Interstate 10 and Loop 610. David Carter of Colliers represented the undisclosed seller in the transaction. Guy Brown of Texas Overland represented the buyer, an entity doing business as 11811 Properties.
NEW YORK CITY — Harbor Group International (HGI) has entered into an agreement to buy 51 West 52nd Street, an office building in Midtown Manhattan known as the CBS Building, for $760 million. As the former owner-occupier, ViacomCBS will lease back its space on a short-term basis. The deal marks the first sale of the building since it originally opened in 1964. HGI plans to implement a significant capital program to reposition the property in support of a long-term leasing plan. Updates will include significant upgrades to the lobby and other tenant amenities. CBRE leases the building. The deal is expected to close by the end of the year.
GARFIELD, N.J. — CBRE has negotiated the sale of a three-building mixed-use property in Garfield, located in the northern part of the Garden State. The property consists of a 69,157-square-foot industrial building that Is fully leased and anchored by textile manufacturer Wearbest Weavers, as well as a retail structure and a two-unit apartment building. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin and Zach McHale of CBRE represented the undisclosed private seller in the transaction. The team also procured the buyer, New York City-based Snowball Developments LLC.
NEW YORK CITY AND TORONTO — KKR, a global private equity firm based in New York City, has agreed to sell a national portfolio of warehouses and distribution centers to Oxford Properties Group, a real estate owner and manager based in Toronto. The $2.2 billion deal is expected to close in the coming months. The portfolio comprises 149 properties located across 12 major industrial U.S. markets, including the Inland Empire in California, Dallas, Atlanta, Phoenix, Chicago, Houston, Tampa, Orlando, San Diego and the Baltimore-Washington, D.C. corridor. Since 2018, KKR and its management platform Alpha Industrial Properties assembled and maintained the portfolio across 50 individual transactions. The firm’s decision to focus on high-barrier-to-entry sites near major population centers attracted the strong offer from Oxford Properties, which is looking to allocate one-third of its global equity in industrial real estate. “Growing our U.S. industrial business is one of Oxford’s highest-conviction global investment strategies as we continue to build, buy and invest in the physical infrastructure that serves the digital economy,” says Ankit Bhatt, vice president of investments at Oxford Properties and leader of the firm’s U.S. industrial investment strategy. ”High-quality, infill, consumption-driven industrial portfolios of scale trade infrequently, so this transaction is …
