LAS CRUCES, N.M. — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of Dona Ana Storage, a self-storage property in Las Cruces. Haggar Group acquired the asset. Terms of the transaction were not released. The buyer has rebranded the facility as StorWise Self Storage. The property features 273 non-climate-controlled units with tilt-up concrete exterior walls, metal Kynar-coated roofs, concrete drive aisles, LED lighting, security cameras, an on-site management apartment, leasing office and keypad controlled gate. Thomas Parsons and Adam Schlosser of Marcus & Millichap’s Denver office, along with Matthew Reeves of the firm’s Albuquerque office, represented the seller in the deal.
HOLLYWOOD, FLA. — Cushman & Wakefield has arranged the $9.9 million sale of Hollywood Design Center, a fully leased, 57,383-square-foot industrial building in Hollywood. Dominic Montazemi, Mike Ciadella, Scott O’Donnell, Greg Miller and Miguel Alcivar of Cushman & Wakefield represented the seller, an entity doing business as Avid Asset Properties Hollywood LLC, in the transaction. Larry Genet and Tom O’Loughlin of CBRE also assisted the seller in the transaction. The buyer was an entity doing business as KD Properties Group LLC. Hollywood Design Center features two tenants on long-term leases. The center is the international headquarters for Silver Airways and houses the company’s training center, command center and executive offices. The other tenant is UHS Hardware, a national commercial and residential hardware supplier. UHS Hardware occupies the other half of the property and moved to Hollywood Design Center after outgrowing its old space nearby. Located at 2850 Greene St., the center features seven functional warehouse bays with 24-foot clear heights, LED lighting, air conditioning throughout and ESFR sprinkler systems. Built in 1968, the property features a new roof under warranty, multiple HVAC unit replacements, a resealed and restriped parking lot and cosmetic upgrades to the exterior façade.
LAS VEGAS — Colliers International Las Vegas has arranged the purchase of an industrial building located at 3873 W. Oquendo Road in Las Vegas. The buyer, 963963 LLC, purchased the property from an undisclosed seller for $2.9 million. Situated within Stadium Industrial Park, the asset features 20,064 square feet of industrial space. Chris Connell and Grant Traub of Colliers International represented the buyer in the transaction.
SAN ANTONIO — A partnership between hospitality management firm Scarlett Hotel Group (SHG), which has offices in Chicago and Nashville, and Denver-based private equity firm Trailbreak Partners has purchased the former Wyndham San Antonio RiverWalk Hotel. The new ownership is planning a $50 million capital improvement program of the 21-story, 390-room hotel, which originally opened as an office building in 1958. Planned renovations include upgrades to the 40,000 square feet of meeting space and enhanced food and beverage options, as well as the addition of nearly 3,000 square feet of dining/restaurant space and luxury rooftop amenities. In addition, the hotel will be operated under the InterContinental Hotel Group (IHG) family of brands moving forward. Completion of the project is slated for early 2023.
AUBREY, CROWLEY AND WYLIE, TEXAS — Bellomy & Co. has negotiated the sale of a portfolio of five self-storage facilities in the Dallas-Fort Worth metroplex. Totaling 1,736 units and 278,840 net rentable square feet, the Class A properties are located in Aubrey (north of Frisco), Crowley (south of Fort Worth) and Wylie (south of Dallas). Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Dallas-based seller in the transaction. The buyer was a New York-based investment firm doing business as Storage King USA.
SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of Limestone Oaks and Townhomes at Limestone Oaks, two multifamily properties totaling 400 units in northwest San Antonio. The properties were built in 1981 and 1984, respectively. Bryce Smith of TMG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
GARLAND, TEXAS — Western Wealth Capital, an investment firm based in Vancouver, has acquired the 288-unit Broadway Apartment Homes in the northeastern Dallas suburb of Garland. Built in 1982, the community features one- and two-bedroom units and amenities such as two pools, a fitness center and jogging trails. Bard Hoover, Nick Fluellen and David Fersing of Marcus & Millichap, along with Drew Kile and Joey Tumminello of Institutional Property Advisors, brokered the deal. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.
PHILADELPHIA — New Jersey-based Greek Development has acquired a 305,706-square-foot industrial facility located at the base of the Betsy Ross Bridge in Philadelphia. The price was $31.5 million. The property features clear heights of 19 to 21 feet, 30 loading doors and more than 350 parking spaces. John Plower, Ryan Cottone, Larry Maister and Kyle Lockard of JLL represented the seller, an entity doing business as 2121 Wheatsheaf Lane LLC, in the transaction. The property was leased to cocoa bean distributor Dependable Distribution Services at the time of sale.
CBRE Negotiates Sale of Two Industrial Properties Totaling 198,721 SF in Elizabethtown, Pennsylvania
ELIZABETHTOWN, PA. — CBRE has negotiated the sale of two industrial properties totaling 198,721 square feet within Conewago Industrial Park in Elizabethtown, located in Lancaster County. Built in 2019, the properties were fully leased at the time of sale to Bel-Aqua Pool Supply Co. and Packaging Corp. of America. Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE represented the seller, a partnership between Novaya Foxfield Industrial and Drake Real Estate Partners, in the transaction. Boston-based Cabot Properties purchased the assets for an undisclosed price.
INDIANAPOLIS — Colliers International has brokered the sale of The Academy Building in downtown Indianapolis for an undisclosed price. The historic office building, located at 429 E. Vermont St., rises four stories and spans 30,436 square feet. Built in 1911 as the girl’s school St. Mary’s Academy, the property is now 87 percent occupied by 21 tenants. Alex Cantu and Alex Davenport of Colliers represented the seller, The Health Foundation of Greater Indianapolis. Indianapolis-based Shook Realty Group LLC was the buyer.