ATLANTA — JLL Capital Markets has arranged the $50 million sale of Restoration Hardware (RH) Atlanta, a 63,831-square-foot store in Atlanta’s Buckhead district leased on a long-term basis to Restoration Hardware. Jim Hamilton, Coler Yoakam, Brad Buchanan and Andrew Kahn of JLL represented the seller, a partnership between an affiliate of LaSalle’s Income & Growth value-add fund series, Ferncroft Capital, Redan Group and Blackmount Real Estate Partners. RH, a global lifestyle company, has occupied the five-story building since it was constructed in 2014. RH Atlanta is located on 1.6 acres at 3030 Peachtree Road across the street from Jamestown’s Buckhead Village District and near the Buckhead Theatre. The sale transaction included a land parcel with development rights.
Acquisitions
WACO, TEXAS — CSD Realty has brokered the sale of a 438-unit self-storage facility located at 1620 La Salle Ave. in Waco. The facility spans 58,000 square feet. Craig Rice and Cole Rice of CSD Realty represented the seller, Unlimited Storage LLC, in the transaction. The duo also procured the buyer, Store Space Self Storage, a Florida-based investment firm.
HOUSTON — Equity Growth Partners LP has purchased a 135,296-square-foot industrial building that is situated on an 8.5-acre site at 5800 Clinton Drive in East Houston. According to LoopNet Inc., the single-tenant property was built in 1947 and renovated in 2007. Zack Taylor of Moody Rambin represented the seller, CDAB II LP, in the deal. David Boyd and Wes Williams of Boyd Commercial represented the buyer.
TAMPA, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $3.8 million sale of Double Branch Plaza, an 8,996-square-foot, multi-tenant retail strip center located at 12856 W Hillsborough Ave. in Tampa. The property was completed in 2020 and is situated on 1.5 acres. Patrick Nutt and Will Wamble of SRS represented the seller, a Florida-based developer, in the sale. The buyer was a private investor that owns a portfolio of multi-tenant properties in the area. At the time of initial marketing, Double Branch Plaza’s tenant roster included Le Peep Café, Ocean Nail Salon and Tropical Smoothie Cafe. There was still one vacancy left to fill whose lease was negotiated during the due diligence period, according to SRS.
HOUSTON — Colliers International has arranged the sale of a 90,423-square-foot office building located at 7155 Old Katy Road in Houston. The two-story building is situated on a 4.1-acre site in the North Loop West submarket. David Carter and Taylor Wright of Colliers represented the seller, Houston Eye Associates, in the transaction. The buyer, locally based investment firm Braun Enterprises, was self-represented.
LAWRENCE, MASS. — Marcus & Millichap has brokered the sale of a 106,693-square-foot industrial building located at 65 Manchester St. in Lawrence, a northern suburb of Boston. The sales price was $3 million. The property is situated within a qualified opportunity zone about 1.7 miles from Interstate 93. Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity. The property, which was built around the turn of the 20th century and renovated in 2002, was sold via online auction in conjunction with Evan Koransky at Ten-X.
FLORISSANT, MO. — First National Realty Partners has acquired The Shoppes at Cross Keys in Florissant, a northern suburb of St. Louis. The 339,464-square-foot shopping center is 93 percent occupied and features a 63,094-square-foot Schnucks and a 98,133-square-foot Home Depot. CBRE represented the seller, a Boston-based investment advisor. The sales price was undisclosed.
WASECA, MINN. — Phoenix Investors has acquired a 248,291-square-foot industrial flex building in Waseca for an undisclosed price. Phoenix plans to implement a capital improvement plan to reinvigorate the space for new users. There is currently 100,000 square feet available for lease. The facility sits on 19.7 acres at 229 Johnson Ave. SW. Dave Schoof of Coldwell Banker Commercial Fisher Group brokered the sale. The acquisition expands Phoenix’s footprint to 23 states.
SOUTHFIELD, MICH. — Quint Group, a private real estate investment firm headquartered in Quebec, Canada, has purchased Mars Corporate Center in Southfield. The purchase price was undisclosed. The 185,788-square-foot office building is currently 64 percent occupied by eight tenants, including Mars Advertising and IBI Group. Built in 1974, the property features a café and a five-story atrium. Friedman Real Estate represented the undisclosed seller and will represent the new ownership group in the management and leasing of the property. Quint has purchased or developed more than 10 million square feet of retail, industrial and office properties across Canada and the United States.
MAPLEWOOD, MINN. — Marcus & Millichap has arranged the sale of Sibley Cove in Maplewood for $10.9 million. The apartment complex features 81 units. Chris Collins, Evan Miller and Seth Barnett of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a Twin Cities-based limited liability company.