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Acquisitions

Centerport-1-Fort-Worth
AcquisitionsIndustrialTexas

Cushman & Wakefield Arranges Sale of 122,259 SF Distribution Building in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Cushman & Wakefield has arranged the sale of Centerport 1, a 122,259-square-foot distribution building in Fort Worth. The building is located just south of DFW International Airport within the 1,300-acre Centerport Business Park and was fully leased at the time of sale to print and digital communications products provider Venture Solutions. Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. Rob Rubano, Max Schafer and Brian Share, also with Cushman & Wakefield, arranged acquisition financing on behalf of the buyer, Founders Properties.

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AcquisitionsOfficeTexas

CBRE Brokers Sale of 80,000 SF Office Building in West San Antonio

by Taylor Williams

SAN ANTONIO — CBRE has brokered the sale of an 80,000-square-foot office building located at 3900 Rogers Road on the west side of San Antonio. According to LoopNet Inc., the building was originally constructed in 2005. Larry Mendez and Yobana Castillo of CBRE represented the buyer, COPT Defense Properties, in the transaction. Chesapeake Associates Ltd. sold the asset for an undisclosed price.

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Mi-Place-@-West-Rancocas
AcquisitionsMultifamilyNew JerseyNortheast

Marcus & Millichap Brokers $33.6M Sale of Southern New Jersey Apartment Complex

by Taylor Williams

MOUNT HOLLY, N.J. — Marcus & Millichap has brokered the $33.6 million sale of Mi-Place @ West Rancocas, a 108-unit apartment complex in the Southern New Jersey community of Mount Holly. The property comprises 96 apartments and 12 two-story townhouses, each with an attached garage. Amenities include a clubhouse with a resident lounge, fitness center, game room, pool and a dog park. Chez Eider and Andrew Townsend of Marcus & Millichap represented the seller, Fernmoor Homes, in the transaction. The buyer was Universe Holdings.

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AcquisitionsConnecticutNortheastOffice

Water Street Acquires Interest in 252,000 SF Office Building in New Haven, Connecticut

by Taylor Williams

NEW HAVEN, CONN. — Locally based investment firm Water Street Properties has acquired an interest in a 252,000-square-foot office building in New Haven. The percentage was not disclosed. The building is located within the Long Wharf Maritime Center development and is home to tenants such as Ameriprise, Barclay Damon, Knights of Columbus, Morgan Stanley and Tek System. Evan O’Brien of Cushman & Wakefield arranged the sale of the interest from Knights of Columbus to Water Street, which now has operating control of the building, and has also been retained as the leasing agent.

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AcquisitionsCaliforniaRetailWestern

ExchangeRight Acquires 13 Net-Leased Properties from Tractor Supply in Sale-Leaseback

by Amy Works

PASADENA, CALIF. — Pasadena, Calif.-based ExchangeRight has purchased 13 net-leased properties as a sale-leaseback transaction with Tractor Supply. Totaling more than 425,000 square feet, the properties are in Arizona, Florida, Georgia, Indiana, Maryland, Ohio, Pennsylvania, South Carolina and Texas. With this acquisition, ExchangeRight has expanded its portfolio of assets net leased to Tractor Supply to more than 100 properties as of Oct. 31, 2024.

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AcquisitionsArizonaMultifamilyWestern

Highstreet Ventures Buys 17.8-Acre Multifamily Development Site in Buckeye, Arizona

by Amy Works

BUCKEYE, ARIZ. — Canada-based Highstreet Ventures has acquired a 17.8-acre parcel adjacent to Summit Community Church, which is located at 20555 W. Roosevelt St. in Buckeye, for $9.3 million. Highstreet Ventures plans to develop a 510-unit multifamily property on the site. The proposed three-story community will offer 144 studio units, 150 one-bedroom units and 216 two-bedroom layouts, as well as a clubhouse and pool. Michael Farrar and Art Rullo of Marcus & Millichap’s Phoenix office represented the buyer, while Bret Rinehart and Wesley Campbell of Land Advisors Organization represented the seller, Summit Community Lutheran Church, in the transaction.

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16980-Via-Tazon-San-Diego-CA
AcquisitionsCaliforniaIndustrialOfficeWestern

JLL Negotiates Sale of Vacant 35,312 SF Flex Office Building in San Diego

by Amy Works

SAN DIEGO — JLL Capital Markets has negotiated the sale of a fully vacant flex office building located at 16980 Via Tazon in San Diego. Montana Avenue Capital Partners sold the asset to a private investor for $9.9 million in an all-cash, off-market transaction. Built in 1984, the single-story, 35,312-square-foot property can accommodate a variety of uses, including wet/dry lab, manufacturing and creative office space. The building features 14- to 16-foot clear heights and roll-up doors for grade-level loading. Bob Prendergast, Lynn LaChapelle and Zac Saloff of JLL Capital Markets Investment Sales and Advisory team represented the seller in the deal.

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AcquisitionsCaliforniaHealthcareLee & AssociatesOfficeWestern

Lee & Associates Brokers Sale of 20,574 SF Office, Medical Building in Monrovia, California

by Amy Works

MONROVIA, CALIF. — Lee & Associates has arranged the sale of Huntington Professional Center, an office and medical center in Monrovia. The asset traded for $7.6 million. The names of the seller and buyer were not released. Located at 831 E. Huntington Drive, the two-story, 20,574-square-foot property offers 76 surface parking stalls. At the time of sale, the building was fully occupied by a variety of tenants, including Optum Healthcare, Tomdan (parent of Tommy Burgers) and Select Physical Therapy.

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AcquisitionsIllinoisIndustrialLoansMidwest

Gantry Arranges $14.7M Acquisition Loan for Industrial Property in Suburban St. Louis

by Kristin Harlow

COLLINSVILLE, ILL. — Gantry has arranged a $14.7 million permanent loan for the acquisition of Eastport Tech Center in the St. Louis suburb of Collinsville. The four-building industrial property, located on Eastport Plaza Drive, totals 202,508 square feet. The asset is fully leased to multiple tenants. Joe Monteleone and Bonnie Monteleone of Gantry represented the borrower, a private real estate company. A life insurance company provided the five-year, fixed-rate loan, which features a 30-year amortization.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $7.7M Sale of Retail Strip Center in Lake Zurich, Illinois

by Kristin Harlow

LAKE ZURICH, ILL. — Marcus & Millichap has brokered the $7.7 million sale of Lakeview Plaza, a retail strip center totaling 52,400 square feet in the Chicago suburb of Lake Zurich. Built in 1987, the property is home to restaurants, health and fitness tenants, and automotive service users. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private investment group, and procured the buyer, a family office specializing in owning and operating shopping centers.

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