BUFORD, GA. — Seefried Industrial Properties, along with an unnamed institutional partner, has purchased 53 acres in Buford for the development of a new speculative industrial project near Interstate 85. Stuart Bracey of Hughes Commercial represented Atlanta-based Seefried Industrial in the land acquisition. The two-building development, known as Gravel 85 Distribution Center, will span 626,616 square feet and include 384 parking spaces, 108 trailer spaces and 135- to 180-foot truck courts. The development team includes civil engineer Eberly & Associates and Randall Paulson Architects. Construction is set to begin in October.
MARIETTA, GA. — SRS Real Estate Partners has brokered the $11 million sale of Market Square, a 137,889-square-foot shopping center located at 2932 Canton Road in Marietta. The center sits on 13.4 acres and houses tenants such as Big Lots, Ace Hardware and Planet Fitness. A privately held entity doing business as MSQ Realty LLC purchased the asset from an entity doing business as Wood Marietta Center LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction, and the buyer was self-represented.
SAN JOSE, CALIF. — Global private investor KKR has purchased HQ @ First, an office campus in Silicon Valley totaling 603,666 square feet. Mori Trust Co. Ltd., a real estate development firm based in Japan, sold the campus to KKR for $535 million, according to several media outlets. The LEED Gold-certified property was fully leased at the time of sale to data memory and storage manufacturer Micron Technologies and IT securities firm Zscaler. The campus is located at 110, 120, 130 Holger Way in San Jose in the heart of Silicon Valley’s “Golden Triangle,” which is home to globally renowned tech firms such as Cisco Systems, Adobe, PayPal and eBay. Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak of Newmark brokered the transaction. KKR purchased HQ @ First via its KKR Real Estate Select Trust fund and selected San Francisco-based Drawbridge Realty to manage the office campus. “HQ @ First is a marquee property with great amenities, including onsite lab facilities, and access to Silicon Valley’s immense pool of talent,” says Justin Pattner, partner and head of real estate equity in the Americas at KKR. “We believe well-located trophy assets that can deliver a dynamic work environment for innovative …
IRVING, TEXAS — CBRE has brokered the sale of Trammell Crow at Passport Park, a 2 million-square-foot industrial complex in Irving. Built in 2018, the four-building property was 97 percent leased at the time of sale and features 40-foot clear heights, 205-foot truck court depths and ample car and trailer parking spaces. The Dallas-based real estate giant owns the property in conjunction with CBRE Global Investors. Ryan Thornton, Randy Baird, Jonathan Bryan and Eliza Bachhuber of CBRE represented ownership in the transaction. The buyer was an undisclosed, publicly traded REIT.
SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Infinity at the Rim, a 310-unit apartment community in San Antonio. Built in 2018, the mid-rise property is located on a five-acre site within The Rim, a 1.8 million-square-foot mixed-use development on the city’s northwest side. Units feature studio, one-, two- and three-bedroom floor plans with an average size of 997 square feet. Amenities include a rooftop terrace, infinity pool and an outdoor amphitheater. Will Balthrope and Drew Garza of IPA represented the seller, Florida-based DeBartolo Development, in the transaction and procured the Maryland-based buyer.
OCEANSIDE, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Dylan, a multifamily property located in Oceanside. 29th Street Capital sold the asset to 550 Los Arbolitos Owner LLC for $74.1 million, or $356,250 per unit. Built in 1973, The Dylan features 208 apartments in a mix of one-, two- and three-bedroom layouts. Community amenities include two swimming pools, two spas, a gym and a business center. Christopher Zorbas, Alexander Garcia Jr. and Tyler Martin of IPA represented the seller and procured the buyer in the deal.
SAN BERNARDINO, CALIF. — The Mogharebi Group has arranged the sale of Country Club Apartments, a 79-unit seniors housing community in San Bernardino. The buyer and seller were both private investment groups based in Los Angeles. The property sold for $18 million, or $228,000 per unit. “Due to the proven value-add upside, and close proximity to San Bernardino’s largest employers, the buyer pool was large,” says Otto Ozen, executive vice president of TMG. Ozen and Alex Mogharebi of TMG represented the seller in the transaction. Built in 1986, Country Club Apartments is a two-story community comprising 71,428 square feet of rentable space. The complex is situated on a 5.4-acre site. Country Club Apartments features two-bedroom floor plans with an average size of 903 square feet.
TUCSON, ARIZ. — CBRE has arranged the sale of an office building located at 222 E. Fifth St. in Tucson. 222 Building LLC sold the property to 222 Tucson LP for $8.9 million. Bryce Horner of CBRE represented the seller in the transaction. Originally constructed in 1952 and redeveloped in 2014, the three-story property features 25,350 square feet of Class A office space. Mister Car Wash (NYSE: MCW), which went public in June, utilizes the property as its corporate headquarters.
TUCSON, ARIZ. — Cushman & Wakefield|PICOR has brokered the sale of Vida Nueva Apartments, a multifamily property in Tucson. Equilibrium Villas Vida Blue LLC acquired the asset from Seajak Properties for $1.2 million. Located at 3525 N. Stone Ave., the 28,228-square-foot property features 24 apartments. Allan Mendelsberg and Conrad Martinez of Cushman & Wakefield|PICOR represented both parties in the transaction.
DUNCAN, S.C. — Cushman & Wakefield has brokered the $105.6 million sale of the Apple Valley Industrial Portfolio, a four-building portfolio of industrial facilities in the Upstate South Carolina market of Duncan. An affiliate of Lexington Realty Trust purchased the facilities from Panattoni and PCCP. Stewart Calhoun and Casey Masters of Cushman & Wakefield, along with Marcus Cornelius of CBRE and Ryan Koop of Broadstreet Partners, represented the sellers in the transaction. Situated near Inland Port Greer and BMW’s campus, the Class A portfolio is located off of Apple Valley Road and totals more than 1 million square feet.