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Acquisitions

6315-S-Rainbow-Blvd-Las-Vegas-NV
AcquisitionsNevadaRetailWestern

Avison Young Negotiates $6.6M Sale of 18,000 SF Retail Building in Las Vegas

by Amy Works

LAS VEGAS — Avison Young has facilitated the sale of an 18,000-square-foot retail property located at 6315 S. Rainbow Blvd. in Las Vegas. A Las Vegas-based private trust sold the asset to Syndicate MMA, a mixed martial arts gym and property tenant since 2019, for $6.6 million. Syndicate MMA occupies 15,000 square feet of the building, with a salon and medical practice occupying the remaining space. Hillary Steinberg and Corina Towle of Avison Young represented the seller, while Kevin Jacobson of Iron Will LLC represented the buyer in the deal.

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AcquisitionsBuild-to-RentMidwestMinnesotaSingle-Family Rental

CBRE Negotiates Sale of 66-Unit Build-to-Rent Community in Maple Grove, Minnesota

by Kristin Harlow

MAPLE GROVE, MINN. — CBRE has negotiated the sale of Mills Creek, a 66-unit build-to-rent community in the Twin Cities suburb of Maple Grove. Curtis Capital Group purchased the property from a joint venture between Watermark and PCCP for an undisclosed amount. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller. Built in 2019, the asset features detached homes averaging 1,679 square feet. Amenities include a clubroom, business center, pool, dog park, fitness center, community garden and walking trails.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges Two Multifamily Sales Totaling $10.6M in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has arranged the sales of two Chicago apartment buildings. A 14-unit property constructed in 2023 at 5069 N. Northwest Highway in the Jefferson Park neighborhood sold for $5.7 million, while an eight-unit building completed in 2020 at 2034 N. Avondale Ave. in the Bucktown neighborhood traded for $4.9 million. Brad Feldman of Interra represented the seller, a private local developer, in both transactions. Michael Duckler of Interra represented the confidential buyer of 5069 N. Northwest Highway. The private buyer of 2034 N. Avondale Ave. acquired the property as part of a 1031 exchange and assumed the seller’s debt on the asset. Both properties were fully occupied at the time of sale.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Brokers Sale of 42,780 SF Industrial Facility in Metro Chicago

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Entre Commercial Realty has brokered the sale of a 42,780-square-foot industrial facility at 2375 Estes Ave. in Elk Grove Village within the O’Hare submarket. The freestanding property features three docks, two drive-in doors, heavy power, a clear height of 22 feet and ample car parking. The buyer, Excel Restoration, will use the building as its headquarters. Cory Kay, Mike DeSerto and Elisabeth Lazzara of Entre represented the undisclosed seller, while colleague Kevin Kaplan represented the buyer.

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AcquisitionsIndustrialTexas

Outrigger, Longpoint Sell 304,576 SF Industrial Building in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — A partnership between Outrigger Industrial and Boston-based Longpoint Partners has sold a 304,576-square-foot industrial building in McKinney, located north of Dallas. The building at 400 Harry McKillop Blvd., which is known as M-75 Commerce Center, was completed in 2024 and was fully leased to a single tenant at the time of sale. Building features include 36-foot clear heights, a cross-dock configuration and climate-controlled space. The buyer and sales price were not disclosed.

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AcquisitionsIndustrialTexas

Cushman & Wakefield Brokers Sale of 86,904 SF Industrial Property in North Houston

by Taylor Williams

HOUSTON — Cushman & Wakefield has brokered the sale of Chisholm Trail Business Center, a two-building, 86,904-square-foot industrial property in North Houston. The rear-load buildings feature 18-foot clear heights and a mix of dock-high, semi-dock and ramp-access doors. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt, David Munson and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was Entrada Partners. The property was 86 percent leased at the time of sale.

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444-Madison-Avenue-Manhattan
AcquisitionsNew YorkNortheastOffice

Summit Properties Buys 500,000 SF Office Building in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Summit Properties has purchased 444 Madison Avenue, a 500,000-square-foot office building in Midtown Manhattan. The 42-story building occupies an entire blockfront between East 49th and 50th streets and offers amenities such as a tenant lounge, café, conference center and two landscaped terraces. Tenants include law firm Schwartz, Sladkus, Reich, Greenberg, Atlas, as well as The Doris Duke Foundation, EOS Hospitality and financial services firm Capital Dynamics. The seller and sales price were not disclosed. Summit Properties has tapped JLL as the new leasing agent.

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AcquisitionsNew YorkNortheast

JLL Arranges $28M Sale of Brooklyn Commercial Property Formerly Leased to Century 21

by Taylor Williams

NEW YORK CITY — JLL has arranged the $28 million sale of a 186,584-square-foot commercial property in the Bay Ridge area of Brooklyn that formerly housed a Century 21 store. The property at 423 88th St. consists of 62,792 square feet of commercial space across three floors and 123,729 square feet of parking across six stories and two roof decks. Jeffrey Julien, Brendan Maddigan and Michael Mazzara of JLL represented the seller, ASG Equities, in the deal. Michael Feratovic of Specialized Realty Group represented the buyer.

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AcquisitionsNortheastPennsylvaniaRetail

CBRE Brokers Sale of 63,392 SF Shopping Center in Lancaster, Pennsylvania

by Taylor Williams

LANCASTER, PA. — CBRE has brokered the sale of The Shops at Prospect, a 63,392-square-foot shopping center in Lancaster, located roughly midway between Philadelphia and Harrisburg. Grocer Giant anchors the center, which is also home to tenants such as Penn State Health and Hillcrest Pharmacy. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE represented the seller, Brixmor Property Group, in the transaction. Bennett Williams Commercial represented the buyer, Deerin Cos.

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AcquisitionsIndustrialSoutheastVirginia

Cushman & Wakefield Arranges $142M Sale of Eastport Industrial Park in Richmond

by Abby Cox

RICHMOND, VA. — Cushman & Wakefield has arranged the sale and financing of Eastport Industrial Park, a nearly 1.1 million-square-foot industrial portfolio in Richmond. Rockpoint purchased the property from Equus Capital Partners for $142 million. Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check of Cushman & Wakefield, alongside Eric Robison and Bo Mckown of Cushman & Wakefield | Thalhimer, represented the seller in the transaction. John Alascio, T.J. Sullivan, Chris Meloni and Michael Zelin, also with Cushman & Wakefield, arranged acquisition financing through an unnamed global alternative investment firm on behalf of Rockpoint. Situated near the Richmond International Airport, Eastport Industrial Park comprises eight buildings with 25-foot clear heights, 182 loading positions and modern infrastructure to support a diverse tenant base. The property was 97 percent leased to 19 tenants at the time of sale.

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