FLORHAM PARK, N.J. — CBRE has brokered the $9.2 million sale of a 50,600-square-foot office and industrial building in the Northern New Jersey community of Florham Park. The facility at 5 Vreeland Road was originally built in 1976 and formerly housed the operations of Tropar Trophy until the plaque-making company was sold last year. Tom Mallaney, Elli Klapper and Denise Kokulak of CBRE represented the seller, the Ilaria Family Trust, in the transaction. The team also procured the buyer, Faropoint, which has retained CBRE as the leasing agent.
LITHIA SPRINGS, GA. — CenterPoint Properties has purchased a 395,750-square-foot industrial facility located at 2124 Skyview Drive in Lithia Springs, about 19 miles west of Atlanta. The seller and sales price were not disclosed. Frank Fallon and George Fallon of CBRE brokered the transaction. Located less than one mile from I-20, the industrial facility was fully leased at the time of sale to an undisclosed logistics provider. The facility offers parking for 243 cars — expandable to 274 — and 53 trailers, as well as 47 docks with room for 31 more, three drive-in doors, 32-foot clear heights and an ESFR sprinkler system. The acquisition of the Lithia Springs property followed CenterPoint’s entry into the Atlanta market in May with the purchase of a 347,013-square-foot facility in Powder Springs, Ga.
MORGANTOWN, W.VA. — Centurion Property Group has acquired U Club Sunnyside, a 534-bed student housing community located near the West Virginia University campus in Morgantown. The new ownership plans to rebrand the property as The View at Morgantown and implement capital improvements following the acquisition. The seller and terms of the transaction, which was brokered by JLL, were not released. Developed in 2016, the property offers units in a mix of two- and four-bedroom configurations. Shared amenities include a resort-style pool, hot tub, fitness center, community kitchen, barbecue grills and dedicated study spaces.
WALTERBORO, S.C. — Marcus & Millichap has brokered the $9.3 million sale of Shoppes at Walterboro, a 53,330-square-foot shopping center located approximately 48 miles west of Charleston. Originally built in 2007 on 7.4 acres, the center was renovated in 2024 with a new roof and awnings, as well as a resurfaced parking lot. Walmart shadow-anchors the property, which was 97 percent leased at the time of sale to tenants including Five Below, Dollar Tree, Cato Fashions, Shoe Show, It’s Fashion, AT&T and China Buffet. Al Taf of Marcus & Millichap represented the seller in the transaction. Benjamin Yelm was Marcus & Millichap’s broker of record in South Carolina.
CHANNELVIEW, TEXAS — Apricus Realty Capital has acquired a 9.2-acre industrial outdoor storage (IOS) facility in Channelview, an eastern suburb of Houston. The facility at 403 W. Brentwood St. was fully leased at the time of sale to GFL Plant Services LP, which supports the petrochemicals industry. Apricus acquired the property in partnership with ABR Capital Partners. The seller and sales price were not disclosed.
HOUSTON — Locally based development and investment firm Triten Real Estate Partners has purchased a 140,181-square-foot industrial property in northwest Houston. According to LoopNet Inc., the building at 1811 Brittmoore Road, which was fully leased at the time of sale, was built in 2008 within a larger, master-planned business park. Stephen Bailey and Dom Espinosa of Newmark represented the undisclosed seller in the transaction.
NORTH PROVIDENCE, R.I. — CBRE has negotiated the sale of Residences at Brentwood, a 240-unit apartment complex in North Providence. Built in 1987, the property offers one- and two-bedroom units with an average size of 692 square feet. Amenities include an indoor and outdoor pool, fitness center and a clubhouse. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Massachusetts-based Taymil Partners, in the transaction. The buyer was FPA Multifamily.
MONTVALE, N.J. — Cushman & Wakefield has brokered the $5.7 million sale of a 29,898-square-foot office building in the Northern New Jersey community of Montvale. The single-tenant building at 20 Craig Road was fully leased at the time of sale to JURA Inc., a Swiss company that makes coffee machines. Andrew Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, Mountain Development Corp., in the transaction. Brian Anderson and Eddie Miro, also with Cushman & Wakefield, arranged the acquisition financing on behalf of the buyer, Fortune Touch LLC.
WEST VALLEY CITY, UTAH AND ENGLEWOOD, COLO. — Westcore has completed the disposition of The Raceway Commerce Center in West Valley City and Potomac Park I & II in Englewood to a partnership between Hyde Development and Mortenson Properties for an undisclosed price. Jeff Chiate, Will Strong, Michael Matchett, Phillip Eilers and John Schreck of Cushman & Wakefield, along with Joe Cesta, Tyler Carner and Jeremy Ballenger of CBRE, represented the seller and procured the buyer in the transaction. The properties are part of the National Core Industrial Portfolio, a multi-state portfolio totaling 2.4 million square feet across eight assets in six states. Located at 6057 W. SR-201 Frontage Road and 2234 S. 5900 West in West Valley City, The Raceway Commerce Center offers 397,894 square feet of industrial space with a clear height of 32 feet, expansive truck courts and LED lighting. Located at 7955 and 7901 S. Potomac St. in Englewood, Potomac Park I & II offer 28-foot to 30-foot clear heights, dock-high and drive-in loading and ESFR fire sprinklers.
ALGONQUIN, ILL. — Red Mountain Group Inc. has sold Algonquin Commons, a 548,000-square-foot retail power center in the Chicago suburb of Algonquin. Nuveen Real Estate was the buyer. Located along Randall Road, Algonquin Commons is home to tenants such as Trader Joe’s, The Fresh Market, Nordstrom Rack, Bob’s Furniture, Ulta Beauty, Old Navy, Dick’s Sporting Goods and Barnes & Noble. Red Mountain Group has focused on repositioning and restabilizing the center since its acquisition. Occupancy increased from 60 percent to more than 90 percent. Bill Bauman of Newmark represented Red Mountain Group in the sale.