OMAHA, NEB. — Investors Realty has brokered the sale of the Hi-Park Campus in Omaha for $11.4 million. The asset consists of eight flex industrial buildings that were fully leased at the time of sale. Located on the southeast corner of 94th and F streets, the campus spans 150,000 square feet. Ember Grummons of Investors Realty represented the buyer, Fulton Acquisitions. Clint Seemann of Investors Realty and John Dickerson of OMNE represented the seller, Hannibal Properties.
ARLINGTON, TEXAS — JLL has negotiated the sale of a 12-building, 582,803-square-foot industrial portfolio in Arlington. The portfolio includes 109th Street Business Park (414,724 square feet), 2821 East Randol Mill (40,000 square feet), 1170-1180 109th Street (93,079 square feet) and 3016-3030 Avenue East (35,000 square feet). The infill buildings were collectively 77 percent leased at the time of sale. Stephen Bailey, Dustin Volz, Dom Espinosa, Wesley Gilmer and Pauli Kerr of JLL represented the seller, Fort Worth-based investment firm Fort Capital, in the transaction. The buyer was Arden Group, a national investment management firm.
PLANO, TEXAS — Florida-based investment firm CTO Realty Growth Inc. (NYSE: CTO) has purchased The Shops at Legacy North, an approximately 236,000-square-foot office and retail center in Plano, for $72.5 million. The property was built on 12.7 acres in 2007 and was 83 percent leased across its office and retail components at the time of sale. The retail portion of the property consists of 121,496 square feet and houses tenants such as Capital Grille, Seasons 52, Mexican Sugar, Benihana and Ra Sushi. The office component spans 114,936 square feet and is home to users such as Unum, Technologent, Timmons Group, BRP and Shift Digital.
AUSTIN, TEXAS — An affiliate of Miami-based One Real Estate Investment has acquired Lotus Village, a 222-unit apartment community in North Austin. Built in 2012, the property offers one-, two- and three-bedroom units with hardwood floors, individual washers and dryers and private balconies/patios. Communal amenities include a fitness center, clubhouse, business center, picnic area and a pet play area. Brad Williamson of Berkadia arranged acquisition financing through LoanCore on behalf of the buyer. The seller was undisclosed.
POMONA, CALIF. — Harbor International Group (HGI) has purchased The Olive Ridge Resort, a multifamily property in Pomona, for $46.8 million. Located at 2261 Valley Blvd., the 11-building community features 220 apartments in a mix of studio, one- and two-bedroom units. Community amenities include a fitness center; tennis and volleyball court; swimming pool and spa; business center; barbecue grilling stations; a junior soccer field; and on-site laundry facilities. Shane Shafer and Quinn Breslin of NorthMarq’s Newport Beach office handled the transaction.
BAKERSFIELD, CALIF. — Modesto-based Retail Equities has completed the disposition of East Hills Malls, a vacant shopping center situated on 38 acres in Bakersfield. A partnership between Steve Zimmerman of ZDI and Michael Heslov of Soboroff Partners acquired the asset for $7.2 million. Located at 2800-3200 Mall View Road, the 352,666-square-foot property was initially developed by the Hahn Co. in 1988. The property was formerly called City Lights at East Hills. Orbell Ovaness, Ara Rostamian and Aren Ohanian of Marcus & Millichap’s Los Angeles office represented the seller in the deal. Vincent Roche of Cushman & Wakefield/Pacific consulted on the transaction.
COLORADO SPRINGS, COLO. — Denver-based Quiver Investments has arranged the sale of Synergy Corporate Center, an office building located in Colorado Springs. Great Western Foloh sold the asset to a Colorado-based investor group for $6.5 million, or $148 per rentable square foot. Located at 5225 N. Academy Blvd., the property features 44,256 rentable square feet. At the time of sale, the building was 90 percent occupied. John Witt and Ben Swanson of Quiver Investments represented the seller, while Riki Hashimoto of Newmark represented the buyer in the deal.
SANTA FE SPRINGS, CALIF. — Matthews Real Estate Investment Services has brokered the sale of a medical office and retail building located at 13063 Rosecrans Ave. in Santa Fe Springs, a suburb of Los Angeles. The property traded hands for $5.4 million. The names of the seller and buyer were not released. Fresenius Medical Care and TNV International, a wholesale distributor of bulk ingredients for the nutritional supplement industry, occupy the property. Jake Linksy and Simon Assaf of Matthews brokered the transaction.
CLIFFSIDE PARK, N.J. — Cushman & Wakefield has brokered the $6.1 million sale of a 27-unit multifamily building in Cliffside Park, located across the Hudson River from Harlem. The sales price equates to roughly $226,000 per unit. Brian Whitmer, Andrew Schwartz, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller, A&J Inc., and procured the buyer, JTS Inc., in the transaction. The property was fully occupied at the time of sale.
ORLANDO, FLA. — Colliers International has brokered the sale of Park Center, a 200,400-square-foot industrial complex in Orlando. The Geneva Group, a real estate investment and property services firm based in Deerfield Beach, Fla., has purchased the property for $19 million. A private investor group doing business as Park Center Properties LLC was the seller. Park Center, which was fully leased at the time of sale, is located west of North John Young Parkway and north of Lake Breeze Drive, in Orlando’s Northwest Orange submarket. The transaction included eight parcels with a total of 16.7 acres. In addition to one vacant lot, the property includes six single-story small bay warehouses and one dock-high warehouse and assembly building. Geneva Group has begun on renovations of Park Center, including new paint and roofs, enhanced lighting, a parking lot overlay and new signage. Park Center was leased to 44 tenants at the time of the sale to predominantly local and regional businesses. Joe Rossi and Nick Hanson of Colliers brokered the transaction. With the acquisition of Park Center, Geneva Group now owns 631,352 square feet of industrial space in Central Florida.
