HOUSTON — Newmark has arranged the sale of a two-building, 115,000-square-foot office complex located at 6250 and 6260 Westpark Drive in Houston’s Galleria District. Built in 1973 and renovated in 2016, the complex offers amenities such as covered parking, multiple conference rooms and a deli. Spencer Hough and Connor Darling of Newmark, along with Jim Autenreith and Stephen Ghedi of Moody Rambin, represented the seller, Texas-based developer Presidium Group, in the transaction. The buyer was an entity doing business as Westpark @ 59 Office Plaza LLC.
HOUSTON — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Shores at Clear Lake, a 100-unit seniors housing community in Houston. Grace Management will take over the operations of the property, which is located on seven acres near Clear Lake and the NASA Johnson Space Center. The community offers assisted living and memory care services. The price and seller were not disclosed.
HOUSTON — Colliers International has negotiated the sale of a 64,846-square-foot industrial building located at 1314 Sam Houston Parkway in West Houston. Critical Rental Solutions occupies the single-tenant building, which was recently renovated and now features an upgraded roof, higher clear heights, heavier crane capacity and elevated power. Todd Moore of Colliers represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
LOS ANGELES — San Francisco-based SteelWave has purchased The Switchyard, a Class A creative office campus in the Arts District of Los Angeles. Los Angeles-based CEG Construction sold the property for $80 million. The Switchyard consists of two low-rise office buildings, offering a total of 150,451 square feet, located at 500 and 540 S. Santa Fe Ave. Constructed in 2019, the 500 property consists of a newly constructed five-story creative office building totaling 100,000 square feet and offering ground-floor retail space and a penthouse with an open deck. The 540 property consists of a two-story, 50,888-square-foot building, which was built in 2012. Both buildings feature secured parking and gated and secured entry. SteelWave plans to implement a capital improvements program at the campus, including updating the buildings’ exteriors and improving on-site amenities. Mike Condon Jr., Steve Marcussen, Erica Finck and Bailey Dawson of Cushman & Wakefield represented the buyer and seller in the deal. Cushman & Wakfield’s Peter Collins, Brittany Winn, Scott Menkus and Alexa Delahooke provided market leasing advisory, while Rob Rubano, Brian Share, Joseph Lieske, Ernesto Sanchez, Keith Padien and Greg Napper of Cushman & Wakefield assisted the buyer with financing.
EAST PALO ALTO, CALIF. — Regency Centers has completed the sale of Gateway 101, a shopping center located at 1771 E. Bayshore Road in East Palo Alto. A private foreign investor acquired the property for $53.2 million. Built in 2000 and renovated in 2017, Gateway 101 features 92,110 square feet of retail space. At the time of sale, the property was fully occupied by Target and Nordstrom Rack. The asset is a part of a larger 430,000-square-foot retail property. Bryan Ley, Eric Kathrein and Tony Ensbury of JLL Capital Markets represented the seller in the deal.
NEW YORK CITY — Illinois-based CenterPoint Properties has acquired a 145,144-square-foot industrial building in The Bronx. The warehouse sits on 4.8 acres and features 18 dock-high doors and 1.5 acres for parking. In addition, the facility is located near Hunts Point Food Distribution Center, the largest food distribution hub of its kind in the world, according to CenterPoint. The seller and sales price were not disclosed.
HUDSON, MASS. — JLL has negotiated the sale of Center at Hudson, an 85,000-square-foot shopping center in Hudson, about 30 miles west of Boston. A Stop & Shop grocery store anchors the property, which was 96 percent leased at the time of sale. Other tenants include Expo Nails, The Paper Store, Sperry’s Liquors and Eye Care Center. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction. The buyer was NNM Realty Trust, a regional owner-operator.
SWANSEA, MASS. — Jacobson Properties has brokered the $9.2 million sale of the East Bay Ambulatory Care Building, a 23,072-square-foot healthcare building in Swansea, located in the southern part of the state. The property was fully leased to East Bay Surgery Center, which focuses on ophthalmology, and Steward Saint Anne’s Hospital Center for Pain Management. East Bay Surgery Center Real Estate LLC sold the property to an undisclosed national healthcare real estate firm. Lisa Menin of Jacobson Properties brokered the deal.
PEWAUKEE, WIS. — Mohr Capital, a Dallas-based private investment firm, has acquired Riverwood Corporate Center II in Pewaukee, about 20 miles west of Milwaukee. The 112,000-square-foot office building serves as the headquarters of ProHealth Care, which signed a long-term lease through 2032. Built in 2002, the building is situated at the front entrance of the office park at the intersection of Riverwood Drive and State Highway 164. The three-story property features a cafeteria, executive wing, walking path, 460-space parking lot and several meeting areas. ProHealth, which is the largest healthcare provider between Milwaukee and Madison, has approximately 4,700 employees plus 1,000 doctors, according to Mohr. Matt Bear of Bear Real Estate Advisors represented Mohr in the transaction. The acquisition marks Mohr’s third investment in the Milwaukee market. Seller information was undisclosed.
MERRILLVILLE, IND. — Quantum Real Estate Advisors Inc. has brokered the $7 million sale of Broadway Place, a shopping center located at 6001-6091 Broadway St. in Northwest Indiana’s Merrillville. At the time of sale, the property was fully leased to CitiTrends, B2 Digital, Aaron’s Rents, Shoppers World and a few local tenants. Jason Lenhoff of Quantum represented the seller, a Chicago-based private investor. A New York-based private investment firm was the buyer.