Friday, April 24, 2026
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Acquisitions

Brookfield Commons
AcquisitionsHealthcareOfficeSoutheastVirginia

Cushman & Wakefield | Thalhimer Brokers $32.5M Sale of Medical Office Property in Richmond

by Julia Sanders

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $32.5 million sale of Brookfield Commons, a 90,598-square-foot Class A medical office property located at 6600 West Broad St. in Richmond. Eric Robison, Catharine Spangler and Birck Turnbull of Cushman & Wakefield | Thalhimer represented the seller, an entity managed by Stanley Shield Partnership, in the transaction. Nashville-based Montecito Medical Real Estate acquired the property. Brookfield Commons is a newly renovated medical office property located directly off Interstate 64 along West Broad Street in Richmond’s Midtown district. Built in 1977 and formerly known as the headquarters for the Virginia Department of Transportation, Brookfield Commons underwent a full-scale renovation in 2019. The property was 100 percent leased at the time of sale to four tenants including Central Virginia’s only ENT surgery center, Richmond’s largest pulmonary practice, a full-service imaging center and one of the region’s largest women’s healthcare practices.

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Bedford Manor
AcquisitionsAffordable HousingMultifamilySoutheastTennessee

CPP Housing Acquires Affordable Housing Community in Shelbyville, Tennessee for $6.1M

by Julia Sanders

SHELBYVILLE, TENN. — Community Preservation Partners (CPP Housing) has acquired Bedford Manor Apartments, a 108-unit affordable housing community in Shelbyville, for $6.1 million. The property comprises 18 one-bedroom, 60 two-bedroom and 30 three-bedroom units for residents earning less than 50 percent of the area median income (AMI). CPP Housing is investing $12.3 million to renovate the 10-building property, which was built in 1968. Construction begins this month and is expected to finish in January 2022. CPP Housing plans to remodel the interior units to include new flooring, cabinets, countertops, appliances and lighting. The company also plans to make exterior improvements and security enhancements, such as improvements to the roofing, HVAC system, windows, lighting and security cameras. Americans with Disabilities Act units and ADA path of travel will also be updated as required by local jurisdictions. CPP Housing also plans to expand the property’s residential services to include programs such as health and wellness classes, financial literacy and food programs. CPP Housing is an affordable housing rehabilitation company with headquarters in Irvine, Calif., and Reston, Va.

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AcquisitionsIndustrialMidwestMissouriOhio

Box Equities Purchases Two Distribution Centers in Missouri, Ohio Totaling More than 1 MSF

by Kristin Harlow

MISSOURI AND OHIO — Box Equities has acquired two distribution centers in Missouri and Ohio. The first property is a 900,000-square-foot center anchored by Home Depot in Missouri. The second asset is a 150,000-square-foot Pepsi distribution center in Ohio. Seller information and sales prices were undisclosed. New York-based Box Equities, which launched only eight months ago, now owns and manages more than 1.8 million square feet of industrial real estate.

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AcquisitionsMidwestMissouriRetail

Investors Realty Brokers $20.3M Sale of Shopping Center Near Kansas City

by Kristin Harlow

INDEPENDENCE, MO. — Investors Realty Inc. has brokered the $20.3 million sale of Marketplace Shopping Center in Independence, just east of Kansas City. The 253,000-square-foot shopping center is 91 percent leased. Anchor tenant Price Chopper has occupied the property for 34 years. Other tenants include Petco, Big Lots, Viva Fashion and FedEx. Ember Grummons of Investors Realty represented the seller, a partnership between Walton Street Capital and NewQuest Epic. Grummons also procured the buyer, Wichita-based HJH Investments.

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AcquisitionsMidwestMultifamilyStudent HousingWisconsin

Becovic, Next Realty Acquire 232-Unit Apartment Portfolio Near Marquette University for $16.1M

by Kristin Harlow

MILWAUKEE — A joint venture partnership between Becovic and Next Realty has acquired a 14-building, 232-unit apartment portfolio within a one-mile radius of Marquette University in Milwaukee. The purchase price was $16.1 million. Units range from studios to four-bedroom floor plans. The portfolio was 95 percent leased at the time of sale. Taylor Grant of Park Equities represented the seller, Wiegand Enterprises LLC, which had owned the portfolio for roughly 20 years. Marquette University is home to nearly 12,000 students.

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AcquisitionsMidwestMinnesotaMultifamily

Seven-Building Multifamily Portfolio Trades Hands in St. Paul, Minnesota

by Kristin Harlow

ST. PAUL, MINN. — A seven-building multifamily portfolio totaling 174 units has traded hands in St. Paul for an undisclosed price. Live Green Apartments sold the brownstone buildings to a private investor. The properties range in size from 12 units to 44 units and were built from 1911 to the 1920s. Ted Abramson, Drew Rafshol, Keith Collins and Abe Appert of CBRE Minneapolis Multifamily represented the seller, which invested significant capital over the last several years to update roofs, windows, boilers, common areas and landscaping. Additionally, units and laundry areas received new flooring.

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Rite Aid occupies the 508,000-square-foot warehouse at 1755 E. Beamer St. in Woodland, Calif., (pictured) and the 926,860-square-foot warehouse at 2801 West Ave. H in Lancaster, Calif.
AcquisitionsCaliforniaIndustrialWestern

Westcore Buys Two Distribution Warehouses in California from Kimco Realty for $108M

by Amy Works

LANCASTER AND WOODLAND, CALIF. — Westcore has acquired a two-property industrial portfolio, totaling more than 1.4 million square feet of space, located at 2801 West Ave. H in Lancaster and 1755 E. Beamer St. in Woodland. Kimco Realty Corp. sold the portfolio for $108 million. Rite Aid occupies both distribution warehouses on 20-year leases. The Lancaster facility features 926,860 square feet and the Woodland property offers 508,000 square feet. Darla Long, Barbara Emmons and Rebecca Perlmutter of CBRE represented the seller, while Westcore was self-represented in the transaction.

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Autumn-Grove-Vancouver-WA
AcquisitionsMultifamilyWashingtonWestern

IPA Brokers Acquisition of 148-Unit Autumn Grove Apartments in Vancouver, Washington

by Amy Works

VANCOUVER, WASH. — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the purchase of Autumn Grove, a multifamily property located in Vancouver. Las Vegas-based The Calida Group acquired the property for an undisclosed price. The name of the seller was not released. Adjacent to the Vancouver Mall, the property features 148 apartments and was recently completed. At the time of sale, the community was 86 percent leased. Anthony Palladino, Giovanni Napoli, Philip Assouad, Ryan Dinius and Sidney Warsinske of IPA represented the buyer in the deal.

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1811-E-Northrop-Blvd-Chandler-AZ
AcquisitionsArizonaOfficeWestern

Silver Creek Development Acquires 130,642 SF Office Building in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — Silver Creek Development has purchased Ascend at Chandler Airport Center, a Class A office property located on 11 acres at 1811 E. Northrop Blvd. in Chandler. An undisclosed seller sold the asset for $34.2 million. Build in 2016 and renovated in 2018, the two-story building features 130,642 square feet of office space. At the time of sale, the property was fully leased on a long-term basis as the corporate headquarters of Zovio, a technology services company. Chris Toci and Chad Littell of Cushman & Wakefield represented both parties in the transaction. Greg Mayer, also of Cushman & Wakefield, provided leasing advisory services.

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Palmetto Blugg
AcquisitionsDevelopmentMixed-UseMultifamilySouth CarolinaSoutheast

Henderson Park, South Street Acquire 20,000-Acre Waterfront Resort Near Hilton Head

by Julia Sanders

PALMETTO BLUFF, S.C. — Henderson Park Capital Partners and South Street Partners have formed a joint venture to acquire Palmetto Bluff, a 20,000-acre resort in Bluffton that is surrounded by 32 miles of riverfront. The price was not disclosed. Palmetto Bluff features nature trails; two village centers complete with river access, boat storage and a canoe club; dining options; the Montage Palmetto Bluff resort; and a Jack Nicklaus Signature Golf Course. The land includes available residential neighborhoods ranging from multimillion-dollar compounds to single-family lots. The joint venture will oversee all aspects of development and management of the single-family residential and resort community. Working alongside Palmetto Bluff’s current leadership team and the Montage Hotels & Resorts leadership team, Henderson Park and South Street will bring extensive experience in sales, marketing, club and resort operations. The joint venture says it will release more information later on about future development plans.

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