GOODYEAR, ARIZ. — CIM Group has purchased Goodyear Airport 85, a recently completed industrial building adjacent to the Phoenix Goodyear Airport in Goodyear. Terms of the transaction were not released. Located at 1685 S. Litchfield Road, the 276,183-square-foot Goodyear Airport 85 is a rear-load industrial facility with 36-foot clear heights, 48 exterior dock doors and ample car, trailer and bicycle parking.
TEMECULA, CALIF. — Progressive Real Estate Partners has arranged the sale of Cross Creek Golf Club, located at 43860 Glen Meadows Road in Temecula. ANB Enterprises sold the asset, which includes the real estate and business, to Ken Tina LLC for $4.6 million. Brad Umansky and Greg Bedell of Progressive represented the seller, while Craig Way of Seaway Properties represented the buyer in the deal. Built in 2001, the Arthur Hill-designed, 18-hole Cross Creek Golf Club sits on 166 acres. The buyer plans to make significant investments to the upgrade the clubhouse, improve the condition of the golf course and potentially add new facilities for hosting weddings and special events. Touchstone Golf will manage the property.
RICHARDSON, TEXAS — Colliers has arranged the sale of Collins Commerce Center, a 75,601-square-foot office building located at 1651 N. Collins Road in the northeastern Dallas suburb of Richardson. Cody Payne and Michael Tran of Colliers represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
ST. LOUIS — One Metropolitan Square, an office tower in downtown St. Louis, has sold in two transactions totaling $145 million. One deal was for the building and a separate one was for the land. Kawa Capital Management, an independent asset management firm, purchased the leased fee interest. The seller, 601W Cos., had owned and operated the property since 2005. The building is 92 percent leased to 35 tenants in industries such as law, government, energy and architecture. This past summer, the U.S. Department of Agriculture signed a 20-year lease to occupy 163,000 square feet.
BOARDMAN, OHIO — First National Realty Partners has acquired Southland Crossings in Boardman, about 50 miles east of Akron. The purchase price and seller were undisclosed. Giant Eagle Supermarket anchors the 245,678-square-foot shopping center, which is located on Doral Drive. The property is 91 percent leased by tenants such as Ross Dress for Less, PetSmart, DSW and Michaels.
OMAHA, NEB. — Investors Realty has brokered the sale of a two-building industrial portfolio in Omaha for $8.5 million. The two adjacent buildings total 99,616 square feet and are located at the corner of 136th Street and Cornhusker Road. Ember Grummons of Investors Realty represented the buyer, STAG Industrial Holdings LLC. Joe Kutilek of Magnum Realty Inc. represented the seller, K & J Investments LLC.
EASTON, PA. — Global logistics operator Realterm has acquired a 307,290-square-foot warehouse that is located at 3747 Hecktown Road in the Lehigh Valley city of Easton. Built on 28.5 acres in 1986 and expanded in 2017, the single-tenant property features 32 loading positions, 56 trailer parking stalls, 370 car parking spaces and 4,800 square feet of freezer space. The property was fully leased at the time of sale. John Plower, Ryan Cottone, Zach Maguire and Jeff Lockard of JLL brokered the deal on behalf of Realterm. The seller was not disclosed.
FRANKLIN AND DANVERS, MASS. — Avison Young has brokered the $37.2 million sale of a portfolio of two industrial buildings totaling 205,324 square feet in metro Boston. The properties, which were fully leased at the time of sale to tenants such as Panera Bread, JNJ Industries, Lansing Building Products and McCue Corp., are located in the southwestern suburb of Franklin and the northern suburb of Danvers. Scott Jamieson and Brandon Dickason of Avison Young represented the seller, Arris Partners LLC, in the transaction and procured the buyer, Denver-based Black Creek Group.
BOSTON — MassHousing has provided $28.5 million in financing for Council Tower, a 145-unit affordable seniors housing property in the Roxbury neighborhood of Boston. Excluding the property manager’s unit, all of Council Tower’s 28 studios and 117 one-bedroom units are subsidized by a Section 8 Housing Assistance Payment contract. The borrower, the Council of Elders Housing Corp., will use proceeds to refinance existing debt, fund capital improvements and preserve the affordability of the 17-story building.
AVENTURA, FLA. — Cardone Capital, the Aventura-based institutional investment firm owned by entrepreneur and real estate mogul Grant Cardone, has acquired a portfolio of multifamily properties in South Florida for $740 million. The per-unit price equates to about $438,000. The sellers were not disclosed. The portfolio comprises four communities totaling 1,688 units. Two of the properties, totaling 716 units, are located in Fort Lauderdale. The other two properties, totaling 972 units, are in Sunrise and Weston, both located in West Broward County. Cardone Capital is rebranding each of the communities under its signature 10X banner. The two Fort Lauderdale properties are newly built and feature studio, one- two- and three-bedroom units. Amenities include pools and fitness centers. Both communities are located in the city’s downtown area. The other two communities were constructed in the 1990s and have value-add potential, according to the buyer. “Acquiring these four properties, essentially simultaneously, is the largest deal I’ve done in my 30-plus years as a real estate investor,” says Cardone, who serves as CEO of his namesake company. “Each property has its own personality, but what they all share is the first thing I look for in property investments — super-convenient locations in high-growth …