Acquisitions

IPA Brokers $27.5M Sale of Medical Office Building in Greenbelt, Maryland

by John Nelson July 23, 2025

GREENBELT, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $27.5 million sale of Maryland Trade Center III, a 192,000-square-foot medical office building in Greenbelt, a suburb of Washington, D.C. Robert Filley of IPA, along with Chez Eider of Marcus & Millichap, represented the seller, an entity doing business as Greenbelt Trade Center LLC. The duo also procured the buyer, CPF-HCRE – Greenbelt LLC, an affiliate of Chicago Pacific Founders. Brian Hosey served as Marcus & Millichap’s broker of record in Maryland for the transaction. Completed in 1989, Maryland Trade Center III is situated across from the Greenbelt Center shopping mall and within a half-mile of Luminis Health’s hospital and long-term recovery care center. Luminis Health recently selected the Class A building for its expansion of outpatient services. The property was 75 percent leased at the time of sale to tenants including Luminis Health, Greenbelt Oncology, Absolute Care of Maryland, LabCorp, Community Radiology Associates, Anne Arundel Dermatology and Health First Medical Group. Maryland Trade Center III has been upgraded in recent years with a new lobby and systems upgrades. Amenities include a two-story atrium lobby, tenant-only fitness center and a daycare facility.

July 23, 2025

Acquisitions District of Columbia Office Southeast

In-Rel Properties Acquires 130,000 SF Office Building in D.C.

by John Nelson July 23, 2025

WASHINGTON, D.C. — In-Rel Properties, a real estate investment and management firm based in Lake Worth Beach, Fla., has purchased a nearly 130,000-square-foot office building located at 2033 K St. NW in Washington, D.C.’s Golden Triangle district. The seller and sales price were not disclosed. In-Rel has tapped Carroll Cavanagh, Dimitri Hajimihalis and Emily Eppolito of CBRE to spearhead the leasing campaign at 2033 K Street. Renovated in 2019, the eight-story office building features a new lobby, fitness facility and conference center. In-Rel plans to install “town hall” speculative suites on the second and third floors to boost occupancy at the office building, which has a block of up to 60,000 square feet of contiguous space available for lease.

July 23, 2025

Acquisitions Industrial Texas

Alterra Acquires Industrial Outdoor Storage Facility in North Houston

by Taylor Williams July 23, 2025

HOUSTON — Philadelphia-based investment firm Alterra IOS has acquired an industrial outdoor storage facility in North Houston. The 3.7-acre facility at 1960 S. Starpoint Road is adjacent to George Bush International Airport and features two warehouses totaling 17,880 square feet that are leased to national tenants in the oil and gas production and pumping services sector. Jack Zalta of KSR NY brokered the deal. The seller and sales price were not disclosed.

July 23, 2025

Acquisitions Civic Northeast Pennsylvania

JLL Negotiates $74.4M Bankruptcy Sale of University of the Arts Portfolio in Downtown Philadelphia

by Taylor Williams July 23, 2025

PHILADELPHIA — JLL has negotiated the $74.4 million bankruptcy sale of the University of the Arts Portfolio, a collection of nine academic properties totaling roughly 760,000 square feet in downtown Philadelphia. Named after the academic institution that closed last year, the portfolio comprises a mix of educational facilities, theaters, dormitories and office buildings. These include Terra Hall, a 17-story educational facility, and Hamilton Hall, the oldest building on Broad Street that was constructed in 1824. Jim Galbally, Fran Coyne, Samantha Kupersmith, Brett Segal, Carl Fiebig and Tyler Margraf of JLL worked on behalf of the bankruptcy trustee, Alfred T. Giuliano Trustee, to arrange the buyers for the transaction.

July 23, 2025

Acquisitions Multifamily Nevada Student Housing Western

Kidder Mathews Arranges $14M Sale of LEV Apartments in Reno, Nevada

by Amy Works July 23, 2025

RENO, NEV. — Kidder Mathews has arranged the sale of LEV Apartments, a multifamily property located at 1617 N. Virginia St. in Reno. A Sacramento, Calif.-based private real estate investment firm acquired the asset from a student housing developer for $14 million. Situated adjacent to the University of Nevada, Reno, LEV Apartments features 128 studio/one-bath units and a one-bedroom/one-bath unit all with shared kitchen areas. At the time of sale, the property was 98 percent occupied. The asset was originally built in 1980 by the Saltern family. Ben Nelson of Kidder Mathews represented the seller and buyer in the transaction.

July 23, 2025

Acquisitions Civic Colorado Western

Cushman & Wakefield, Berkshire Hathaway Broker $5M Sale of Former Public School in Loveland, Colorado

by Amy Works July 23, 2025

LOVELAND, COLO. — Cushman & Wakefield and Berkshire Hathaway have arranged the sale of 1500 Monroe Avenue, a former public school property in Loveland. Thompson School District sold the asset to St. John Paul II High School for $5 million. Built in 1963 on 6.6 acres, the 53,000-square-foot property was formerly utilized by Thompson School District. Travis Ackerman of Cushman & Wakefield and Jack Tretheway of Berkshire Hathaway represented the seller in the deal.

July 23, 2025

Acquisitions California Retail Western

Hanley Investment Group Negotiates $3.8M Sale of Two-Tenant Retail Pad Site in Metro Sacramento

by Amy Works July 23, 2025

ROCKLIN, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $3.8 million sale of a two-tenant retail pad site in Rocklin, approximately 25 miles northeast of downtown Sacramento, for $3.8 million. Situated at 2303 Sunset Blvd., the 6,122-square-foot building is occupied by U.S. Bank and a drive-thru Animal Urgent Care, each on a triple-net-lease. Built in 2022, the property sits on roughly 1 acre. Nearby tenants include Taco Bell, Safeway, Costco, Target, The Home Depot, WinCo Foods and Chipotle Mexican Grill. Eric Wohl and CJ Kiehler of Hanley represented the seller, a locally based private developer, in the transaction. Avi Narang of BRC Advisors Real Estate Investment Services represented the buyer, a private investor.

July 23, 2025

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale of 100,400 SF Logistics Center in Mount Prospect, Illinois

by Kristin Harlow July 23, 2025

MOUNT PROSPECT, ILL. — Colliers has arranged the sale of a 100,400-square-foot last-mile logistics facility in Mount Prospect for an undisclosed price. The property at 350 N. Wolf Road features a clear height of 32 feet, 12 exterior truck docks and paved parking. Jeff Devine, Steve Disse and Tyler Ziebel of Collieres represented the seller, a joint venture between Stotan Industrial and PCCP LLC. An institutional investor purchased the asset. The site was formerly home to an office building, which Stotan demolished to make way for the facility. Completed in early 2024, the property is fully leased to OnTrac, an e-commerce logistics provider.

July 23, 2025

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $6M Sale of Multifamily Property in Chicago’s Uptown Neighborhood

by Kristin Harlow July 23, 2025

CHICAGO — Kiser Group has brokered the $6 million sale of a multifamily property located at 1132-1140 W. Wilson Ave. in Chicago’s Uptown neighborhood. Originally completed as an adaptive reuse project in 2015, the asset was fully occupied at the time of sale. The building is located one block from the Chicago Transit Authority and across the street from Truman College. CedarSt sold the property to J&J Equities. Katie LeGrand and Jacob Price of Kiser Group brokered the transaction, which closed two months after the property was brought to market.

July 23, 2025

Acquisitions Development Kansas Midwest Restaurant Retail

Block & Co. Sells Retail Development Site in Overland Park, Kansas to Hyper Energy Bar

by Kristin Harlow July 23, 2025

OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has sold a retail development site at Oak Park Mall in Overland Park to Hyper Energy Bar, an Iowa-based drive-thru chain. Hyper Energy Bar sells energy drinks with caffeine, caffeine-free and sugar-free options. The 1.2-acre pad site is adjacent to tenants IHOP, Paris Baguette and Bank of America. Hyper Energy Bar is slated to open in the first quarter of 2026. Daniel Brocato and David Block of Block & Co. represented the landlord, while Pat Coppinger of Colliers represented the tenant.

July 23, 2025

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